{"id":91318,"date":"2024-04-25T00:00:00","date_gmt":"2024-04-25T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=91318"},"modified":"2025-12-15T00:08:22","modified_gmt":"2025-12-15T00:08:22","slug":"abu-dhabi-raises-usd-5-bn-in-first-eurobond-sale-in-3-years","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/abu-dhabi-raises-usd-5-bn-in-first-eurobond-sale-in-3-years\/","title":{"rendered":"Abu Dhabi raises USD 5 bn in first eurobond sale in 3 years"},"content":{"rendered":"<section id=\"91320\" 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=\"91320\">\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\/25\/aed-2-bn-earmarked-for-post-rain-housing-damage-control\/\">\r\n                            THIS MORNING: AED 2 bn earmarked for post-rain housing damage control + 6G before the end of the decade?                        <\/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\/25\/aed-2-bn-earmarked-for-post-rain-housing-damage-control\/\" 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 event aims to bring together more than 1.5k leaders in global social investment to advance humanitarian efforts in Asia, according to an Abu Dhabi Media Office <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/community\/avpn-global-conference-2024-to-unite-social-investment-efforts-to-drive-humanitarian-action-in-asia\/\" style=\"\" rel=\"noopener\">statement<\/a>.<\/font><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><font face=\"Arial\"><strong>#2- Carpet and flooring industry event Domotex Middle East 2024 also wraps today <\/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.<\/font><\/p>\n<p class=\"tag-border-left\"><font face=\"Arial\"> HAPPENING THIS WEEK- <\/font><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><font face=\"Arial\"><strong>Lord Mayor Michael Manielli will be in the UAE this week to discuss carbon<\/strong><strong> markets and debt finance for vulnerable countries with officials<\/strong>, in a bid to follow up on the progress made during Cop28, where he led a delegation to the summit, he told <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/news\/uk\/2024\/04\/24\/lord-mayor-michael-mainelli-seeks-uae-breakthrough-as-uk-loses-net-zero-leader-mantle\/\" style=\"\" rel=\"noopener\">The National<\/a>. The exact agenda for his visit was not disclosed.<\/font><\/p>\n<p class=\"tag-border-left\"><font face=\"Arial\">AFTER THE STORM-<\/font><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <font face=\"Arial\"><strong>#1- The UAE cabinet has earmarked AED 2 bn to address the damages to <\/strong><strong>citizens\u2019 homes<\/strong>, with oversight from a newly formed committee, Dubai Ruler Sheikh <a target=\"_blank\" href=\"https:\/\/x.com\/HHShkMohd\/status\/1783114526335877391\" style=\"\" rel=\"noopener\">Mohammed bin Rashid Al Maktoum said<\/a>. Residents affected by flooding and infrastructure damage are advised to seek assistance from relevant authorities.<\/font><\/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\"><font face=\"Arial\"><strong>#2- It\u2019s not just UAE ins. companies that will see claims jump in the aftermath of the storm<\/strong> \u2014 claims and reins. costs are expected to jump in several GCC countries following last week\u2019s recent storms in the UAE, Oman, and Saudi Arabia, <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/62983\/%D9%85%D9%88%D8%AF%D9%8A%D8%B2-%D8%B4%D8%B1%D9%83%D8%A7%D8%AA-%D8%A7%D9%84%D8%AA%D8%A3%D9%85%D9%8A%D9%86-%D8%B3%D8%AA%D8%AA%D8%AD%D9%85%D9%84-%D9%86%D8%B3%D8%A8%D8%A9-%D8%B5%D8%BA%D9%8A%D8%B1%D8%A9-%D9%85%D9%86-%D8%A5%D8%AC%D9%85%D8%A7%D9%84%D9%8A-%D8%AE%D8%B3%D8%A7%D8%A6%D8%B1-%D8%A7%D9%84%D8%A3%D9%85%D8%B7%D8%A7%D8%B1-%D9%81%D9%8A-%D8%A7%D9%84%D8%AE%D9%84%D9%8A%D8%AC\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>&nbsp;reports, citing a new report by credit rating agency Moodys. <\/font><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><font face=\"Arial\"><strong>Still, the storm will have little impact on ins. companies\u2019 losses<\/strong>,<strong> <\/strong>on the back of relatively low ins. penetration in GCC countries and compulsory ins. such as third-party car ins. not covering weather-related damages. National protection schemes against significant losses in the ins. sector are also expected to be activated following the storms, further mitigating the impact on ins. companies\u2019 net incomes, Moody\u2019s added.<\/font><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><font face=\"Arial\"><strong>ICYMI #1-<\/strong> The credit rating agency <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/5e7d144e-f07b-4cf6-a5a5-78c31834f7c3\/gcc-insurers%25e2%2580%2599-income-to-expand-between-5-15%2525-in-2024--s&amp;p\" style=\"\" rel=\"noopener\">previously said<\/a> that the heavy rainfall would add pressure on local ins. companies, especially impacting small and medium-sized firms that have not seen recent income growth, and drive up reins. costs in upcoming renewals for local ins. providers relying on reins. services to mitigate their losses.<\/font><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><font face=\"Arial\"><strong>ICYMI #2-<\/strong> Some companies have seen ins. claims surge to a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/e76dd13f-0ff0-4b59-bffe-28f9b6255a94\/up-next:-drainage-infrastructure%3F\" style=\"\" rel=\"noopener\">record high<\/a> following last week\u2019s heavy rainfall compared to previous peaks after rainstorms. While vehicle damage claims account for most of the claims, the companies have also received claims from restaurants, shops and other small retailers valued at \u201chundreds of thousands.\u201d <\/font><\/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\"><font face=\"Arial\"><strong>#3- All roads blocked due to the storm in Sharjah are now open<\/strong> according to the local Emergency, Crisis, and Disaster Management Team in Sharjah, <a target=\"_blank\" href=\"https:\/\/gulfnews.com\/uae\/transport\/uae-rains-all-blocked-roads-reopen-in-sharjah-city-1.102314350\" style=\"\" rel=\"noopener\">Gulf News<\/a> writes.<\/font><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><font face=\"Arial\"><strong>#4-<\/strong><strong>All traffic fines in Dubai incurred on 16 April during the storm will be waived<\/strong>, according to Dubai Police\u2019s Commander-in-Chief Abdullah Khalifa Al Marri, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b2tgm3s-dubai-police-waive-all-traffic-fines-incurred\" style=\"\" rel=\"noopener\">Wam<\/a> writes. <\/font><\/p>\n<p class=\"tag-border-left\"><font face=\"Arial\">OUR NEXT CONFERENCE IN CAIRO-<\/font><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><font face=\"Arial\"><strong>Foreign investors are falling in love with Egypt again\u2026<\/strong> Foreign investors we speak with (debt, equity, and strategic alike) have growing appetite for Egypt. They\u2019re buying into local debt, eyeing promising shares, and committing bns of USD to both new ventures here and the growth of their existing businesses. They like the Egypt story that\u2019s taking shape after the float of the EGP, and its competitive advantages are clear to many of them: <strong>It\u2019s a massive consumer opportunity and a regional export hub of tomorrow.<\/strong><\/font><\/p>\n<p style=\"padding:0;margin:0;line-height:1.0;orphans:2;widows:2;text-align:left\"><font face=\"Arial\"><strong>The Enterprise Optimism Forum 2024 will do exactly what it says on the tin: <\/strong>Spark conversations about a future that sees Saudi Arabia, Egypt, and the the UAE at the heart of a more vital Middle East economy \u2014 and provide an early, actionable roadmap for those who are \u201clong Egypt.\u201d<\/font><\/p>\n<p style=\"padding:0;margin:0;line-height:1.0;orphans:2;widows:2;text-align:left\"><font face=\"Arial\"><strong>We\u2019ll be talking with you about the agenda over the coming couple of weeks.&nbsp;<\/strong>It features speakers from Egypt and abroad who are future-proofing their businesses and angling to capture tomorrow\u2019s opportunities \u2014 and who aren\u2019t afraid to answer some tough questions. <\/font><\/p>\n<p style=\"padding:0;margin:0;line-height:1.0;orphans:2;widows:2;text-align:left\"><font face=\"Arial\"><strong><a target=\"_blank\" href=\"https:\/\/optimism.enterprise.news\/\" style=\"\" rel=\"noopener\">*** Interested in attending? Tap or click here to let us know.<\/a><\/strong>&nbsp;Seating is limited. <\/font><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><font face=\"Arial\"><a href=\"https:\/\/optimism.enterprise.news\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/221.jpg?ssl=1\"><\/a> <\/font><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><font face=\"Arial\"><span style=\"background-color: transparent;\">THE BIG STORY ABROAD-<\/span><br \/><\/font><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><font face=\"Arial\"><strong>Yesterday, it was Tesla. Today, it\u2019s Meta\u2019s earnings getting ink everywhere in the Western <\/strong><strong>business press<\/strong> (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/meta-raises-2024-expenses-forecast-support-ai-development-2024-04-24\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-24\/meta-projects-higher-spending-weaker-revenue-amid-ai-push?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/6f00608a-8392-4062-b1f2-fb63910ac2dd\" style=\"\" rel=\"noopener\">FT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/04\/24\/meta-meta-q1-2024-earnings-.html\" style=\"\" rel=\"noopener\">CNBC<\/a>). The company\u2019s shares fell as much as 19% in after hours trading \u2014 wiping out nearly USD 200 bn of its market value \u2014 after raising capital expenditure guidance as it looks to ramp up spending on AI, and providing a cautious sales growth forecast. CEO Mark Zuckerberg defended its plans in a call with analysts, saying it will need to \u201cgrow our investment envelope meaningfully before we make much revenue from some of these new products.\u201d <\/font><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><font face=\"Arial\"><strong>The company otherwise posted solid revenues for 1Q 2024<\/strong>, rising 27% y-o-y to USD 36.5 bn, while net income more than doubled to USD 12.37 bn, according to its <a target=\"_blank\" href=\"https:\/\/investor.fb.com\/investor-news\/press-release-details\/2024\/Meta-Reports-First-Quarter-2024-Results\/default.aspx\" style=\"\" rel=\"noopener\">earnings release<\/a>.<\/font><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><font face=\"Arial\"><strong>ALSO- Binance founder Changpeng Zhao could face up to three years in prison<\/strong> for anti-money laundering and sanctions violations. Friends and acquaintances of Zhao sent in 350 pages worth of letters to bail him out, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-24\/friends-family-royalty-seek-mercy-for-crypto-s-richest-man\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. <\/font><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><font face=\"Arial\"><strong>IN OTHER TRIAL-RELATED NEWS- An Arizona grand jury has indicted 18 people \u2014 most<\/strong><strong> of whom are former US President Donald Trump\u2019s Republican allies \u2014 <\/strong>on charges of fraud, forgery, and conspiracy, for falsely declaring the Trump president in 2020. Trump himself was named an unindicted co-conspirator. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/grand-jury-indicts-18-alleged-arizona-fake-elector-scheme-re-elect-trump-2024-04-24\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/04\/24\/us\/arizona-fake-electors-trump.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/axios.com\/2024\/04\/24\/arizona-trump-fake-elector-indictment\" style=\"\" rel=\"noopener\">Axios<\/a>) <\/font><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><font face=\"Arial\"><strong>ALSO GETTING PLAY- A mega mining transaction around the corner? <\/strong>Australian minerBHP has reportedly made a play for British multinational miner Anglo American in what could be the industry\u2019s largest acquisition in years. The takeover would come as BHP looks to expand its portfolio of copper mines amid the energy transition, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/9141eee7-825a-41d7-913d-49e8c12e76db\" style=\"\" rel=\"noopener\">Financial Times<\/a> cites sources as saying.<\/font><\/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\"><font face=\"Arial\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/font><\/h4>\n<\/p><\/div>\n<p class=\"mb-10\"><font face=\"Arial\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/font><\/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\"><svg class=\"e-icon e-TypeGeneral3 white mr-8\"><font face=\"Arial\"><use xlink:href=\"#e-TypeGeneral3\"><\/use><\/font><\/svg><font face=\"Arial\"> Subscribe here<\/font><\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p class=\"tag-border-left\"><font face=\"Arial\">WATCH THIS SPACE- <\/font><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><font face=\"Arial\"><a id=\"wwtt1\"><\/a><strong> We\u2019re getting 6G before the decade is out: <\/strong>The Telecommunications and Digital Government Regulatory Authority (TDRA) has rolled out its roadmap for adopting 6G technology, aiming to adopt services UAE-wide before 2030, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b2tgloy-tdra-unveils-uae%E2%80%99s-roadmap\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The adoption plan kicks off this year with the establishment of a committee tasked with conducting scientific research, and overseeing \u201cthe development of technical standards and specifications for 6G.\u201d<\/font><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><font face=\"Arial\"><strong>The next-generation mobile network will build on the capabilities of 5G<\/strong> by improving frequency efficiency, connection density and traffic management. 6G networks will include AI, network virtualisation, sensing, and comprehensive coverage applications. <\/font><\/p>\n<p class=\"tag-border-left\"><font face=\"Arial\">DATA POINTS-<\/font><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><font face=\"Arial\"><a id=\"wwtt2\"><\/a> <strong>#1- Developers in Dubai averaged one launch per every 18 hours in 1Q 2024<\/strong>, with a record 34k new units across 120 off-plan project launches, <a target=\"_blank\" href=\"https:\/\/www.khaleejtimes.com\/business\/realty\/dubai-sees-a-new-property-project-launched-every-18-hours-in-q1-2024\" style=\"\" rel=\"noopener\">Khaleej Times<\/a> reports, citing preliminary numbers released by Cavendish Maxwell\u2019s property monitor. Some 30 projects were launched in March alone, adding 10k units to the market on the back of heightened demand in Dubai\u2019s real estate market.<\/font><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><font face=\"Arial\"><strong>IN CONTEXT- <\/strong>The value of real estate sales in Dubai climbed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/bf774c56-79bd-4bfa-b3fa-eefcf4a9d373\/dubai%25e2%2580%2599s-property-market-reeled-in-aed-109.8-bn-in-sales-in-1q-2024\" style=\"\" rel=\"noopener\">25.9%<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/bf774c56-79bd-4bfa-b3fa-eefcf4a9d373\/dubai%25e2%2580%2599s-property-market-reeled-in-aed-109.8-bn-in-sales-in-1q-2024\" style=\"\" rel=\"noopener\">y-o-y<\/a> in 1Q 2024 to AED 109.8 bn, with off-plan properties accounting for more than half of the units sold during the quarter. The off-plan market racked up AED 50.4 bn compared to AED 8.2 bn in the secondary market.<\/font><\/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\"> <font face=\"Arial\"><a id=\"wwtt3\"><\/a> <strong>#2- Dubai and Abu Dhabi were the only two cities in MENA to rank among the top 20 <\/strong><strong>in <\/strong><strong>the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1785.pdf\" style=\"\" rel=\"noopener\">IMD Smart City Index 2024<\/a><\/strong>, which surveyed 142 cities worldwide to measure how technology improves citizens\u2019 quality of life. Abu Dhabi sat at 10th position globally, up three spots from 2023, while Dubai jumped five places to 12th. <\/font><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><font face=\"Arial\"><strong>Fast facts: <\/strong>Abu Dhabi has been listed in the index\u2019s top tier since 2019, alongside Zurich, Oslo, Singapore, Beijing, and Seoul.<\/font><\/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\"><font face=\"Arial\"><strong>#3- The value of property transactions in Sharjah hit AED 10 bn in 1Q 2024<\/strong>, up67.1% y-o-y on the back of new development projects and government support, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b2tglm2-sharjah-real-estate-transactions-reach-aed-billion\" style=\"\" rel=\"noopener\">Wam<\/a> reports, citing Sharjah Real Estate Registration Department\u2019s latest quarterly report. The number of transactions \u2014 which include ownership transfers, sales, mortgages, and valuations \u2014 increased 9.3% y-o-y to nearly 23.5k during the quarter. Some 2.8k properties, including 2.2k residential units, were sold, collectively pooling AED 2.5 bn.<\/font><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><font face=\"Arial\"><strong>Who was involved:&nbsp;<\/strong>UAE citizens accounted for the lion\u2019s share, coming in at AED 4.4 bn across 7.6k properties. Investors from India put money into the second-largest number of properties in the emirate (683), followed by investors from Syria (484), Pakistan (275), and Jordan (227).<\/font><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-family: Arial; background-color: transparent;\">CIRCLE YOUR CALENDAR-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><font face=\"Arial\"><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\"><\/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\">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 next Sunday and Monday, 28-29 April<\/strong> in Riyadh, Saudi Arabia. The two-day meeting addresses global challenges in economic development, including energy transitions and geopolitical tensions. <\/font><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><font face=\"Arial\"><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\"><\/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\"><\/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>.<\/font><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><font face=\"Arial\"><strong>The International Congress of Arabic Publishing and Creative Industries, hosted <\/strong><strong>by the Abu Dhabi Arabic Language Centre, will convene next Sunday, 28 April<\/strong> at Manarat Al Saadiyat in Abu Dhabi, according to the <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/arts-culture\/3rd-international-congress-of-arabic-publishing-and-creative-industries-to-take-place-in-abu-dhabi\/\" style=\"\" rel=\"noopener\">Abu Dhabi Media Office<\/a>. The event will feature speakers from 50 countries to discuss Arabic literature and creative works. <\/font><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><font face=\"Arial\"><strong>Binghatti Development Company is set to unveil the details of Binghatti Hills, the<\/strong><strong> largest development project in Dubai\u2019s skyline, next Monday, 29 April<\/strong> at the Four Seasons Resort Dubai at Jumeirah Beach, followed by a four-day sales event, <a target=\"_blank\" href=\"https:\/\/www.albayan.ae\/economy\/uae\/2024-04-23-1.4860110\" style=\"\" rel=\"noopener\">Albayan<\/a> reports. The project will comprise 1.6k residential units and 21 commercial outlets. <\/font><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><font face=\"Arial\"><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. <\/font><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><font face=\"Arial\"><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. <\/font><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><font face=\"Arial\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/adbookfair.com\/ar\/adibf\" style=\"\" rel=\"noopener\">Abu Dhabi International Book Fair<\/a><\/strong><strong> (ADIBF 2024) is set to take place from 29 <\/strong><strong>April to 5 May at the Abu Dhabi National Exhibition Centre<\/strong> under the Department of Culture and Tourism. The fair will host 1,350 publishers from 90 countries and 375 local exhibitors presenting over 2k activities. <\/font><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><font face=\"Arial\"><strong>The<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.aimcongress.com\/\" style=\"\" rel=\"noopener\"><\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.aimcongress.com\/\" style=\"\" rel=\"noopener\">Annual Investment Meeting (AIM) Congress<\/a><\/strong><strong> is scheduled to be held on 7-9 <\/strong><strong>May at the Abu Dhabi National Exhibition Centre. <\/strong>Gathering senior government officials and industry experts, the summit will focus on exploring means of strengthening the economy under the theme Resilient, Sustainable Economic Growth \u2013 Creating a Healthy and Prospective Investment through FDI and FPI.<\/font><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><font face=\"Arial\"><strong>Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/font><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/earnings\/\">earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/telecoms\/\">telecoms<\/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=\"91322\" 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=\"91322\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/25\/abu-dhabi-raises-usd-5-bn-in-first-eurobond-sale-in-three-years\/\">\r\n                            Abu Dhabi raises USD 5 bn in first eurobond sale in three years                        <\/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\/25\/abu-dhabi-raises-usd-5-bn-in-first-eurobond-sale-in-three-years\/\" 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 offering was more than 4x oversubscribed, with investors reportedly submitting bids worth USD 22 bn, <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/economy\/2024\/04\/23\/%D8%A3%D8%A8%D9%88%D8%B8%D8%A8%D9%8A-%D8%AA%D8%A8%D8%AF%D8%A3-%D8%A8%D9%8A%D8%B9-%D8%AF%D9%8A%D9%86-%D9%82%D9%8A%D8%A7%D8%B3%D9%8A-%D8%B9%D9%84%D9%89-%D8%AB%D9%84%D8%A7%D8%AB-%D8%B4%D8%B1%D8%A7%D8%A6%D8%AD\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> reports<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the issuance:<\/strong> The issuance comprised three tranches with 5-, 10- and 30- tenors. The emirate narrowed the USD-denominated issuance thanks to strong investor demand from an earlier spread of 70 basis points (bps) over US treasuries, pricing the five-year tranche at 35 bps and the 10-year tranche at 45 bps over treasuries, while tightening the 30-year tranche to 90 bps over treasuries, down from 125 bps.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>Abu Dhabi has been eyeing a fresh eurobond issuance for some months, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-02-26\/abu-dhabi-plans-eurobond-sale-to-join-emerging-market-debt-rush\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported in February, joining a wave of debt issuances from emerging economies and looking to boost liquidity.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi \u201cdoesn\u2019t need the money,\u201d <\/strong>senior portfolio manager at Arqaam Capital Mehdi Popotte told Bloomberg, however the eurobond sale will allow the emirate to bolster its presence in the debt market, \u201c[paving] the way for Abu Dhabi\u2019s government-related entities to issue further later this year,\u201d Popotte added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> S&amp;P Global Ratings <a target=\"_blank\" href=\"https:\/\/disclosure.spglobal.com\/ratings\/en\/regulatory\/article\/-\/view\/type\/HTML\/id\/3094184\" style=\"\" rel=\"noopener\">expected<\/a> the emirate to issue around USD 2 bn in new debt annually until 2026 in order to \u201cmaintain a presence in the market,\u201d in addition to repaying an average of USD 3 bn per year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisers: <\/strong>The bond sale was managed by our friends at HSBC Holdings and First Abu Dhabi Bank, as well as Abu Dhabi Commercial Bank, Citigroup, JPMorgan Chase &amp; Co, Morgan Stanley, and Standard Chartered.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi\/\">Abu Dhabi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt-watch\/\">DEBT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"91324\" 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=\"91324\">\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\">INVESTMENT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/25\/adq-australias-plenary-to-launch-investment-platform\/\">\r\n                            ADQ, Australia\u2019s Plenary to launch investment platform following acquisition                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/25\/adq-australias-plenary-to-launch-investment-platform\/\" 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 platform will focus on investing in public and social infrastructure in high-growth markets, including the GCC, MENA and Central Asia. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Australian media first got wind of the transaction <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/3e59f622-c561-4bbc-8dfd-4cddff155d03\/dubai-airports-are-officially-back-to-normal-%2B-adq-to-buy-usd-1-bn-stake-in-australian-asset-manager#:~:text=ALSO%20HAPPENING%20NOW,markets%2C%20he%20said.\" style=\"\" rel=\"noopener\">yesterday<\/a><\/strong>, reporting that ADQ will acquire the 49% stake for USD 1 bn, citing statements from Plenary Chairman John O\u2019Rourke. The acquisition is expected to take several months to complete.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who is selling?<\/strong> The transaction will see Canadian pension fund Caisse de d\u00e9p\u00f4t et placement du Qu\u00e9bec (CDPQ) sell its entire <a target=\"_blank\" href=\"https:\/\/www.cdpq.com\/en\/news\/pressreleases\/cdpq-acquires-20-of-plenary-group-holdings\" style=\"\" rel=\"noopener\">20% stake<\/a> in Plenary. The remaining shares will be acquired through a capital injection that will help the company expand its presence across Australia, MENA, Asia, the UK, and Europe, the statement reads. CDQP will retain its majority stake in Plenary\u2019s US construction arm, Plenary Americas.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who owns what?<\/strong> Plenary will continue to be owned by its Australian founders and senior management, according to the statement. The shareholders include founders Ray Wilson and Paul Oppenheim, CEO David Lamming, and CIO Paul Crowe. Alongside three other executives, they will all retain their 41% stake in Plenary. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This marks ADQ\u2019s first foray into Australia<\/strong>, ADQ Deputy Group CEO Hamad Al Hammadi said. \u201cWe are confident that our partnership in Plenary will unlock significant opportunities to contribute to the development of state-of-the-art infrastructure assets, boosting economic growth and social welfare in the target geographies. ADQ\u2019s existing portfolio of infrastructure assets\u2026will serve as a catalyst to leverage the significant potential of public-private partnership projects together with Plenary,\u201d he said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Plenary already has a presence in the region:<\/strong> The company established its presence in the UAE in 2022 with the UAE\u2019s first schools infrastructure public-private partnership (PPP), the Zayed City Schools project. It has also been awarded other \u201cmajor projects\u201d expected to be announced soon, the statement said, without disclosing further details.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adq\/\">ADQ<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/infrastructure\/\">infrastructure<\/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=\"91326 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=\"91326\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/25\/91326-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91326\" class=\"content-area-description single-story post-91326 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\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=\"91327\" 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=\"91327\">\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\">CAPITAL MARKETS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/25\/al-mal-capital-reit-completes-aed-180-mn-capital-increase\/\">\r\n                            Al Mal Capital REIT completes AED 180 mn capital increase through tradable rights issue                        <\/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\/25\/al-mal-capital-reit-completes-aed-180-mn-capital-increase\/\" 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\/25\/al-mal-capital-reit-completes-aed-180-mn-capital-increase\/')\">\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\/25\/al-mal-capital-reit-completes-aed-180-mn-capital-increase\/\">\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=Al Mal Capital REIT completes AED 180 mn capital increase&url=https:\/\/enterpriseam.com\/uae\/2024\/04\/25\/al-mal-capital-reit-completes-aed-180-mn-capital-increase\/\">\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\/25\/al-mal-capital-reit-completes-aed-180-mn-capital-increase\/&title=Al Mal Capital REIT completes AED 180 mn capital increase\">\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=Al+Mal+Capital+REIT+completes+AED+180+mn+capital+increase+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F04%2F25%2Fal-mal-capital-reit-completes-aed-180-mn-capital-increase%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\/25\/al-mal-capital-reit-completes-aed-180-mn-capital-increase\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2358.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91328\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/25\/al-mal-capital-reit-completes-aed-180-mn-capital-increase\/2358-jpg-20\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2358.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2358.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2358.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2358.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91327\" class=\"content-area-description single-story post-91327 post type-post status-publish format-standard has-post-thumbnail hentry category-capital-markets tag-capital-markets tag-real-estate wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.ee79043e-d8ae-4baa-a035-a8e12dd12a8e.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong><a target=\"_blank\" href=\"https:\/\/www.almalcapital.com\/\" style=\"\" rel=\"noopener\">Al Mal Capital<\/a><\/strong><strong>\u2019s real estate investment trust (REIT) raised AED 180 mn after <\/strong><strong>completing a tradable rights issue <\/strong>in a bid to grow and acquire new assets, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1767.pdf\" style=\"\" rel=\"noopener\">DFM disclosure (pdf)<\/a>. The transaction \u2014 which was greenlit by the Securities and Commodities Authority \u2014 increased the REIT\u2019s total equity to over AED 540 mn. Al Mal is a unit of Dubai Investments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER- <\/strong>Al Mal Capital\u2019s REIT said in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ae8206f2-a4af-4962-9b40-5f7b063744d6\" style=\"\" rel=\"noopener\">February<\/a> it planned to issue 400 mn new units at AED 1.1 apiece, leading to a share capital increase of up to AED 440 mn if fully subscribed. The company said it would use the proceeds to execute its investment <a target=\"_blank\" href=\"https:\/\/www.almalcapitalreit.com\/documents\/AMCREIT_amend_prosp_28_09_2023.pdf\" style=\"\" rel=\"noopener\">strategy (pdf)<\/a>, which is geared at diversifying the portfolio, with a minimum of 75% of the funds allocated in the UAE and up to 25% in the GCC and other countries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The mechanics: <\/strong>Existing unit holders received tradable rights at a ratio of one right for every 0.88 units they owned on 23 February. Every full right allowed the unit owners to ultimately buy a new unit at a price of AED 1.10. Rights were tradeable on the Dubai Financial Market from 26 February to 15 March 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- How rights work:<\/strong> Existing unit holders have the option of not exercising their rights (ie: doing nothing); they can exercise their rights (buy units in proportion to the rights they hold); or trade the rights (sell them to someone else through a DFM-listed broker \u2014 and buy more rights if they want more of the Al Mal REIT). Investors who own no units can buy the rights from current unit holders, and folks who do nothing or sell their rights would be diluted down if the rights issuance sees others subscribing.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\u201cUsing the increased capital now available to us as a result of this rights issue, AMCREIT will continue with its plans to diversify our portfolio through the acquisition of high-quality education and healthcare assets,\u201d said Al Mal Capital CEO Naser Al Nabulsi.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next for Al Mal? <\/strong>The Dubai-based asset manager plans to acquire an AED 400 mn educational asset \u2014 potentially growing the portfolio's value too close to AED 1 bn \u2014 and a healthcare facility later in the year, the disclosure said. The REIT said at the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/b1680788-cbf0-42c8-a839-7105f7bdf785\/opec%2B-steady-on-voluntary-production-cuts-%2B%253cmark%253e-al%253c%2Fmark%253e%253cmark%253e-mal%253c%2Fmark%253e%253cmark%253e-capital%253c%2Fmark%253e-plans-to-acquire-a-dubai-school-soon\" style=\"\" rel=\"noopener\">start of the month<\/a> that it would purchase a new school in Dubai within the next two months.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Uh, Enterprise? What\u2019s a REIT?<\/strong> A real estate investment trust is a mutual fund that owns, finances or manages income-generating real estate assets \u2014 commercial, residential, office, and other properties. Some will also invest in real-estate-related securities or private equity transactions that are directly related to the industry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The REIT could kick off another capital increase in 4Q 2024<\/strong>,<strong> <\/strong>with plans to up the number of units available to 1.5-1.8 bn units by year-end, Al Mal Capital MENA Direct Investments Director Sanjay Vig previously <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/b1680788-cbf0-42c8-a839-7105f7bdf785\/opec%2B-steady-on-voluntary-production-cuts-%2B%253cmark%253e-al%253c%2Fmark%253e%253cmark%253e-mal%253c%2Fmark%253e%253cmark%253e-capital%253c%2Fmark%253e-plans-to-acquire-a-dubai-school-soon\" style=\"\" rel=\"noopener\">said<\/a>.<\/p>\n<p class=\"tag-border-left\"> IN OTHER CAPITAL MARKETS NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DFM greenlights price stabilization for BHM Capital:<\/strong> Financial services firm BHM Capital received approval from the Dubai Financial Market (DFM) to carry out price stabilization mechanisms for listed stocks, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1783.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The approval will allow BHM Capital to conduct price stabilization transactions to prop up companies\u2019 share prices. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong>Price stabilizing mechanisms involve underwriters purchasing shares in the secondary market to manage volatility in share prices after an initial public offering or other transactions. Think of it as a really strategic share-buyback program run by a banker with the aim of helping a share perform better out of the gate. Share stabilization programs are typically time-limited and wrap up in a matter of weeks after a transaction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Spinneys has tapped BHM Capital as its price stabilization manager<\/strong>, making the retail chain the first company to benefit from BHM Capital\u2019s service following its debut on DFM. The company is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/d2a54037-631a-4700-87bb-d4dfce3e824b\/%253cmark%253espinneys%253c%2Fmark%253e-ipo-could-raise-as-much-as-aed-1.38-bn\" style=\"\" rel=\"noopener\">offering a 25% stake on the DFM<\/a>, and is set to raise up to AED 1.38 bn, with shares expected to begin trading on 9 May.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/real-estate\/\">Real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"91329\" 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=\"91329\">\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\">INVESTMENT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/25\/core-holdings-eyes-education-real-estate-acquisitions-with-aed-5-bn-in-planned-investments\/\">\r\n                            Core Holdings eyes education, real estate acquisitions with AED 5 bn in planned investments                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/25\/core-holdings-eyes-education-real-estate-acquisitions-with-aed-5-bn-in-planned-investments\/\" 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\/25\/core-holdings-eyes-education-real-estate-acquisitions-with-aed-5-bn-in-planned-investments\/')\">\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\/25\/core-holdings-eyes-education-real-estate-acquisitions-with-aed-5-bn-in-planned-investments\/\">\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=Core Holdings eyes education, real estate acquisitions with AED 5 bn in planned investments&url=https:\/\/enterpriseam.com\/uae\/2024\/04\/25\/core-holdings-eyes-education-real-estate-acquisitions-with-aed-5-bn-in-planned-investments\/\">\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\/25\/core-holdings-eyes-education-real-estate-acquisitions-with-aed-5-bn-in-planned-investments\/&title=Core Holdings eyes education, real estate acquisitions with AED 5 bn in planned investments\">\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=Core+Holdings+eyes+education%2C+real+estate+acquisitions+with+AED+5+bn+in+planned+investments+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F04%2F25%2Fcore-holdings-eyes-education-real-estate-acquisitions-with-aed-5-bn-in-planned-investments%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\/25\/core-holdings-eyes-education-real-estate-acquisitions-with-aed-5-bn-in-planned-investments\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1246.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91330\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/25\/core-holdings-eyes-education-real-estate-acquisitions-with-aed-5-bn-in-planned-investments\/1246-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1246.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1246.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1246.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1246.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91329\" class=\"content-area-description single-story post-91329 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-education tag-ma-watch tag-real-estate wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.3f25edfe-87c9-47f7-911d-d5a1de2b5e4e.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Asset manager <\/strong><strong><a target=\"_blank\" href=\"https:\/\/core.create-nation.com\/\" style=\"\" rel=\"noopener\">Core International Holdings<\/a><\/strong><strong> is investing AED 5 bn over the next <\/strong><strong>five years<\/strong> to boost its portfolio holdings in education, real estate, and financial management, state news agency <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b2sv664-core-international-holdings-commits-aed5-billion\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The primary objective of the investment will be to \u201cenhance the education and scientific publishing sector via its education arm,\u201d Dar Al Marefah, CEO Hany Sabry said, without clarifying the exact breakdown of investments. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company will also look at land acquisition, development, and project management through its real estate arm<\/strong>, Ara Real Estate Development, and is eyeing Saudi Arabia for investments, according to Wam. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That\u2019s on top of a fresh <\/strong><strong><a target=\"_blank\" href=\"https:\/\/tradearabia.com\/news\/CONS_421301.html\" style=\"\" rel=\"noopener\">AED 22 bn investment<\/a><\/strong><strong> Ara recently made into a new gated community<\/strong> in Madinat Jumeirah in Abu Dhabi, dubbed Arabian Hills Estate, which it will manage and develop. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The investment firm has five subsidiaries, spanning real estate, education, asset management and financial services<\/strong> \u2014 with its asset management arm alone holding AED 723 mn assets, its real estate arm owning an AED 369 mn land bank.<\/p>\n<p class=\"tag-border-left\">OTHER INVESTMENT NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investcorp launches USD 1 bn fund for GCC, China investments:&nbsp;<\/strong>Mubadala-backed Bahraini asset manager <a target=\"_blank\" href=\"https:\/\/www.investcorp.com\/\" style=\"\" rel=\"noopener\">Investcorp<\/a> launched a new USD 1 bn investment fund, Investcorp Golden Horizon, geared towards investing in high-growth companies in consumer, healthcare, logistics, and business services across Saudi Arabia, the wider GCC region, and China, according to a <a target=\"_blank\" href=\"https:\/\/www.investcorp.com\/investcorp-launches-a-usd-1-billion-platform-to-be-anchored-by-china-investment-corporation-to-invest-in-the-gcc-and-china\/\" style=\"\" rel=\"noopener\">statement<\/a>. China\u2019s sovereign wealth fund the China Investment Corporation, alongside private investors from the GCC, will anchor the fund. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/real-estate\/\">Real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"91331\" 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=\"91331\">\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\">Tech<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/25\/how-is-the-uae-faring-when-it-comes-to-cybersecurity-preparedness\/\">\r\n                            How is the UAE faring when it comes to cybersecurity preparedness?                        <\/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\/25\/how-is-the-uae-faring-when-it-comes-to-cybersecurity-preparedness\/\" 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\/25\/how-is-the-uae-faring-when-it-comes-to-cybersecurity-preparedness\/')\">\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\/25\/how-is-the-uae-faring-when-it-comes-to-cybersecurity-preparedness\/\">\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=How is the UAE faring when it comes to cybersecurity preparedness?&url=https:\/\/enterpriseam.com\/uae\/2024\/04\/25\/how-is-the-uae-faring-when-it-comes-to-cybersecurity-preparedness\/\">\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\/25\/how-is-the-uae-faring-when-it-comes-to-cybersecurity-preparedness\/&title=How is the UAE faring when it comes to cybersecurity preparedness?\">\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=How+is+the+UAE+faring+when+it+comes+to+cybersecurity+preparedness%3F+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F04%2F25%2Fhow-is-the-uae-faring-when-it-comes-to-cybersecurity-preparedness%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\/25\/how-is-the-uae-faring-when-it-comes-to-cybersecurity-preparedness\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1342.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91332\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/25\/how-is-the-uae-faring-when-it-comes-to-cybersecurity-preparedness\/1342-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1342.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1342.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1342.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1342.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91331\" class=\"content-area-description single-story post-91331 post type-post status-publish format-standard has-post-thumbnail hentry category-_newspack_tech tag-tech 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\/.20a03bb8-8423-4647-8ca7-b5d8f8e2565a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>SIGN OF THE TIMES- Some 91% of companies in the UAE rely on AI to ramp up<\/strong><strong> their security defenses<\/strong>,<strong> <\/strong>focusing on threat detection, response, and recovery, digital communications technology conglomerate Cisco said in a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/research-and-studies\/cisco-study-reveals-91-of-uae-companies-use-ai-technologies-in-their-cybersecurity-strategies-to-address-todays-rapidly-evolving-threat-landscape-dt4i40k8\" style=\"\" rel=\"noopener\">press release<\/a>. This figure is forecasted to continue rising, with nearly all (99%) companies surveyed intending to bolster their cybersecurity budgets in the coming years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Robust cybersecurity planning comes on the back of expected threats in the landscape:<\/strong> Some 65% of companies in the UAE faced cybersecurity incidents in the past year that disrupted their business operations, with associated costs exceeding USD 300k for many. 85% expect to face similar incidents in the next one to two years, while 68% of organizations said they plan to roll out significant upgrades to their IT infrastructure over the period to combat security challenges.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AI as a means to combat the cyber talent gap: <\/strong>At the time of Cisco's survey, 90% of companies in the UAE experienced a cyber talent shortage, with only half of the respondents employing over 10 cybersecurity-related roles. The vast majority (95%) of companies are eyeing AI technology integration into their cybersecurity frameworks to bridge over 10% of vacant cybersecurity roles, signaling a positive trend towards innovative tech solutions to address talent scarcity.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Companies like pointed solutions:<\/strong> 82% of UAE companies said that having multiple-point solutions slowed down their team\u2019s ability to detect, respond to, and recover from incidents. Meanwhile, 78% of organizations currently deploy ten or more point solutions in their security stacks, while 26% said they have 30 or more, which, according to Cisco\u2019s analysis \u201craises concerns.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE ahead globally? <\/strong>UAE companies reported higher interest in enhancing their cybersecurity and IT infrastructure with AI-powered technologies than companies across 30 global markets, according to Cisco\u2019s latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1752.pdf\" style=\"\" rel=\"noopener\">Cybersecurity Readiness Index (pdf)<\/a>. A little over half (52%) of the total companies surveyed said they planned to upgrade their IT infrastructure in the next 1-2 years, while 97% of companies said they would increase spending on cybersecurity in 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Almost nine in 10 companies surveyed \u2014 including those based in the UAE \u2014 expect their cybersecurity budget to grow by more than 10% over the next year. <\/strong>This comes after 91% of the companies increased their cybersecurity budgets over the past two years, with 61% growing their budgets by at least 20% and 30% increasing them by 30% or more to ward off risk due to digitization, more sophisticated attacks, and financial impact of cyber incidents, which for 12% of the companies surveyed, exceeded USD 1 mn.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/tech\/\">tech<\/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=\"91333\" 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=\"91333\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/25\/commercial-bank-of-dubai-adib-and-palm-sports-report-1q-results\/\">\r\n                            Commercial Bank of Dubai, ADIB, and Palm Sports report 1Q results                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/25\/commercial-bank-of-dubai-adib-and-palm-sports-report-1q-results\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2024\/04\/25\/commercial-bank-of-dubai-adib-and-palm-sports-report-1q-results\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/uae\/2024\/04\/25\/commercial-bank-of-dubai-adib-and-palm-sports-report-1q-results\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Commercial Bank of Dubai, ADIB, and Palm Sports report 1Q results&url=https:\/\/enterpriseam.com\/uae\/2024\/04\/25\/commercial-bank-of-dubai-adib-and-palm-sports-report-1q-results\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/uae\/2024\/04\/25\/commercial-bank-of-dubai-adib-and-palm-sports-report-1q-results\/&title=Commercial Bank of Dubai, ADIB, and Palm Sports report 1Q results\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Commercial+Bank+of+Dubai%2C+ADIB%2C+and+Palm+Sports+report+1Q+results+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F04%2F25%2Fcommercial-bank-of-dubai-adib-and-palm-sports-report-1q-results%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/25\/commercial-bank-of-dubai-adib-and-palm-sports-report-1q-results\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2013.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91334\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/25\/commercial-bank-of-dubai-adib-and-palm-sports-report-1q-results\/2013-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2013.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2013.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2013.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2013.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91333\" class=\"content-area-description single-story post-91333 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-banking tag-commercial-bank-of-dubai 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\/.d81b4c15-d5f8-4e8c-bd94-4f9fff2c1b54.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> We have a (small) handful of earnings this morning<\/strong>, including the Commercial Bank of Dubai, Abu Dhabi Islamic Bank, and International Holding Company subsidiary Palm Sports all reporting 1Q 2024 results. <\/p>\n<p class=\"tag-border-left\">ABU DHABI ISLAMIC BANK-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi Islamic Bank (ADIB) saw its net income after tax increase 32% y-o-y <\/strong><strong>in 1Q 2024 to AED 1.45 bn<\/strong>, according to the bank\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1793.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. ADIB\u2019s revenues grew 24% y-o-y during 1Q 2024, reaching AED 2.5 bn on the back of expansion in every business segment and product line. The revenue surge was also driven by a 33% y-o-y increase in non-funded income, boosted by a 40% growth in fees and commissions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Total assets and deposits contributed to the strong growth:<\/strong> ADIB\u2019s total assets grew by 13% y-o-y during the first quarter of the year, fueled by 8% y-o-y growth in financing and 25% growth in investments. Customer deposits climbed 13% to AED 160 bn, primarily propelled by a 9% increase in current and savings accounts, which now make up 66% of total deposits.<\/p>\n<p class=\"tag-border-left\">COMMERCIAL BANK OF DUBAI-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Commercial Bank of Dubai (CBD) saw its net income after tax rise 21.9% y-o-y <\/strong><strong>to AED <\/strong><strong>701 mn in 1Q 2024<\/strong>, according to the lender\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1791.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. CBD attributed its success to the expansion in its loan book and current and savings accounts which drove an increase in the lender\u2019s net interest earnings. This growth was further bolstered by non-funded income, which surpassed corporate tax charges, according to the statement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A good quarter overall:<\/strong> The lender saw a 10.9% y-o-y increase in operating income to AED 1.4 bn. This growth was underpinned by a 7.9% y-o-y rise in net interest income, supported by loan and current and savings accounts expansion and high market interest rates. CBD\u2019s net impairment losses were down 23.1% y-o-y.<\/p>\n<p class=\"tag-border-left\">PALM SPORTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>International Holding Company sports management subsidiary Palms Sports saw <\/strong><strong>its net income before tax double during 1Q 2024 to reach AED 16.8 mn<\/strong>, according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1816.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Palms Sports\u2019 total revenues increased by 207% y-o-y, reaching AED 285 mn during the quarter.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Palms Sports saw its net income fall 21% y-o-y to AED 105 mn in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/3cb65711-5857-4fe8-8b60-151147f4c89c\/al-seer-marine-posts-aed-1-bn-net-loss-%2B%253cmark%253e-palms%253c%2Fmark%253e%253cmark%253e-sports%253c%2Fmark%253e-operating-income-rises,-bottom-line-drops\" style=\"\" rel=\"noopener\">2023<\/a>. The IHC-backed company attributed the current growth in net income to its new investment strategy, which includes securing long-term service contracts and embarking on an 'acquisition spree' across diverse sectors to expand its range of services. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/commercial-bank-of-dubai\/\">Commercial Bank of Dubai<\/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=\"91335\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n    <div class=\"issue-sponsor-slides-div\">\r\n        \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/43010.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.mashreq.com\/en\/uae\/neo\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/20607.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Rise every day<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/43009.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/hap.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/117160.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>From OUR FAMILY to YOURS<\/span>\r\n                <\/div>\r\n            <\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"91336\" 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=\"91336\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">UAE IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/25\/the-gulfs-petro-usd-influence\/\">\r\n                            The Gulf\u2019s petro-USD influence                        <\/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\/25\/the-gulfs-petro-usd-influence\/\" 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\/25\/the-gulfs-petro-usd-influence\/')\">\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\/25\/the-gulfs-petro-usd-influence\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The Gulf\u2019s petro-USD influence&url=https:\/\/enterpriseam.com\/uae\/2024\/04\/25\/the-gulfs-petro-usd-influence\/\">\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\/25\/the-gulfs-petro-usd-influence\/&title=The Gulf\u2019s petro-USD influence\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+Gulf%E2%80%99s+petro-USD+influence+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F04%2F25%2Fthe-gulfs-petro-usd-influence%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\/25\/the-gulfs-petro-usd-influence\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2818.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91337\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/25\/the-gulfs-petro-usd-influence\/2818-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2818.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2818.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2818.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2818.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91336\" class=\"content-area-description single-story post-91336 post type-post status-publish format-standard has-post-thumbnail hentry category-uae-in-the-news tag-enterpriseam-uae tag-oil-and-gas tag-uae-in-the-news 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\/.e09d2ebc-ac88-4837-9bb0-d1cab129a8cb.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Gulf region\u2019s \u201cpetro-USD\u201d power is in the spotlight in a long <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-24\/gulf-states-learn-the-power-and-limits-of-petrodollar-persuasion?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a><\/strong><strong>&nbsp;feature<\/strong><strong> \u2014 part of Bloomberg Markets\u2019 April\/May Gulf Issue \u2014 diving into the confluence of wealth and \u201csoft power\u201d <\/strong>\u2014 and what the shift away from oil will mean for both of these in the region as we head into a less fossil-fuel-focused world. The UAE\u2019s investments in everything from ports to agricultural land and overseas real estate exemplifies this shift, Bloomberg writes.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/uae-in-the-news\/\">UAE IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"91338\" 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=\"91338\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/25\/siemens-mobility-and-hassan-allam-construction-snag-uae-oman-rail-link-contract\/\">\r\n                            Siemens Mobility and Hassan Allam Construction snag UAE-Oman rail link contract                        <\/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\/25\/siemens-mobility-and-hassan-allam-construction-snag-uae-oman-rail-link-contract\/\" 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\/25\/siemens-mobility-and-hassan-allam-construction-snag-uae-oman-rail-link-contract\/')\">\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\/25\/siemens-mobility-and-hassan-allam-construction-snag-uae-oman-rail-link-contract\/\">\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=Siemens Mobility and Hassan Allam Construction snag UAE-Oman rail link contract&url=https:\/\/enterpriseam.com\/uae\/2024\/04\/25\/siemens-mobility-and-hassan-allam-construction-snag-uae-oman-rail-link-contract\/\">\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\/25\/siemens-mobility-and-hassan-allam-construction-snag-uae-oman-rail-link-contract\/&title=Siemens Mobility and Hassan Allam Construction snag UAE-Oman rail link contract\">\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=Siemens+Mobility+and+Hassan+Allam+Construction+snag+UAE-Oman+rail+link+contract+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F04%2F25%2Fsiemens-mobility-and-hassan-allam-construction-snag-uae-oman-rail-link-contract%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\/25\/siemens-mobility-and-hassan-allam-construction-snag-uae-oman-rail-link-contract\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1818.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91339\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/25\/siemens-mobility-and-hassan-allam-construction-snag-uae-oman-rail-link-contract\/1818-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1818.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1818.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1818.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1818.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91338\" class=\"content-area-description single-story post-91338 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-abu-dhabi tag-adx tag-also-on-our-radar tag-aviation tag-central-bank-of-the-uae tag-dubai-international-financial-center tag-enterpriseam-uae tag-etihad-rail tag-fintech tag-healthcare tag-siemens tag-tech tag-transport wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.98e0a156-2c2e-487d-af54-fe4af3766c6b.mp3\"><\/audio><\/figure><p class=\"tag-border-left\"> TRANSPORT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Siemens Mobility and Egypt\u2019s Hassan Allam Construction will build, design and integrate <\/strong><strong>signaling, telecom, and power supply systems for the UAE-Oman railway link<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1781.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The link \u2014 also known as the Hafeet Railway \u2014 is 303 km long and connects Oman\u2019s Sohar Port to Abu Dhabi. The value of the contract was not disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- The UAE and Oman <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/708e3db3-9849-441c-b644-4412a3d64600\/uae-signs-usd-35-bn-partnerships-with-oman\" style=\"\" rel=\"noopener\">inked USD 35 bn partnerships<\/a><\/strong><strong> earlier this week<\/strong>, including AED 11 bn in allocations towards the rail link to kick off its construction. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> Etihad Rail had inked an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/5f7c0fa0-7ff5-40da-a538-6bf6b52690ea\/uae-and%253cmark%253e-%253cmark%253eoman%253c%2Fmark%253e%253c%2Fmark%253e-allocate-aed-11-bn-to-uae-%253cmark%253eoman%253c%2Fmark%253e-railway-contracts\" style=\"\" rel=\"noopener\">agreement<\/a> with Omani national railway developer, Oman Rail, in 2022 to set up the Oman-Etihad Rail Company, a USD 3 bn (c. AED 11 bn) 50-50 JV, for the design, development, and operation of Hafeet Railway. The transport link between the UAE and Oman, first announced in September, is aimed at bolstering trade between the two countries and the region. The rail line will serve both passenger and freight trains.<\/p>\n<p class=\"tag-border-left\"> HEALTH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai and Singapore-based private equity health firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/tvmcapitalhealthcare.com\/\" style=\"\" rel=\"noopener\">TVM Capital Healthcare<\/a><\/strong><strong> poured<\/strong><strong> USD 17 mn in German mental health programs provider <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.neurocaregroup.com\/\" style=\"\" rel=\"noopener\">n<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.neurocaregroup.com\/\" style=\"\" rel=\"noopener\">eurocare group AG<\/a><\/strong>, <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2024\/04\/tvm-capital-healthcare-invests-17-million-neurocare\" style=\"\" rel=\"noopener\">Wamda<\/a> reports. TVM Capital Healthcare's investment will expedite neurocare's global expansion ambitions, including expanding into the US and Saudi Arabia, and developing new hardware and software.<\/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- The Central Bank of the UAE granted digital payments services provider Network<\/strong><strong>International a stored value facility (SVF) license<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.network.ae\/en\/news\/view\/network-international-obtains-stored-value-facility-licence-from-uae-central-bank\" style=\"\" rel=\"noopener\">press release<\/a>. The SVF license enables Network International to issue stored value products, including e-wallets and prepaid cards. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART-<\/strong> A stored value facility refers to facilities \u2014 including non-cash assets like rewards points, cryptocurrencies, or virtual assets \u2014 that customers can pay in exchange for the storage of the value of that facility to make payments with the stored value products. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Shariah-compliant lending app <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.qardly.ae\/\" style=\"\" rel=\"noopener\">Qardly<\/a><\/strong><strong> has soft-<\/strong><strong>launched in the Emirates<\/strong>, allowing users to exchange no-interest loans, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1784.pdf\" style=\"\" rel=\"noopener\">press release<\/a>. <\/p>\n<p class=\"tag-border-left\"> TECH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Italian marketing solutions company <\/strong><strong><a target=\"_blank\" href=\"https:\/\/webidoo.me\/\" style=\"\" rel=\"noopener\">Webidoo<\/a><\/strong><strong> has established its regional headquarters<\/strong><strong> in the Dubai International Financial Center (DIFC) Innovation Hub<\/strong>, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b2tgllz-difc-welcomes-marketing-growth-solutions-platform\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The partnership will facilitate knowledge-sharing and joint initiatives to drive AI and Web3 technology adoption.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The Abu Dhabi Global Market (ADGM) and Estonian blockchain security auditor <\/strong><strong><a target=\"_blank\" href=\"https:\/\/hackenio.cc\/main\" style=\"\" rel=\"noopener\">Hacken<\/a><\/strong><strong> have partnered to establish new standards for blockchain security and compliance<\/strong>, a <a target=\"_blank\" href=\"https:\/\/www.adgm.com\/media\/announcements\/adgm-and-hacken-forge-partnership-to-elevate-blockchain-security-standards\" style=\"\" rel=\"noopener\">press release<\/a> reads. <\/p>\n<p class=\"tag-border-left\"> CAPITAL MARKETS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Astana International Exchange to join ADX\u2019s Tabadul: <\/strong>The Abu Dhabi Securities Exchange (ADX) signed an agreement with Kazakhstan\u2019s Astana International Exchange (AIX) to officially add AIX to ADX\u2019s cross-market trading platform, <a target=\"_blank\" href=\"https:\/\/tabadul.sa\/\" style=\"\" rel=\"noopener\">Tabadul<\/a>, reports <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b2tglox-astana-international-exchange-joins-adxs-tabadul\" style=\"\" rel=\"noopener\">Wam<\/a>. The partnership will allow investors to access and directly trade on both bourses through Tabadul, with Kazakhstan\u2019s Freedom Finance Global and BHM Capital onboarded as Tabadul hub brokers, facilitating trading access between Kazakhstan and the UAE.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AIX joins current Tabadul members <\/strong>ADX, Bahrain Bourse, and Muscat Securities Market.<\/p>\n<p class=\"tag-border-left\"> AVIATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Victor lands in Abu Dhabi: <\/strong>Europe\u2019s on-demand jet charter platform Victor has moved its global headquarters to Erth Abu Dhabi, reports <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b2tglrw-victor-jet-charter-platform-moves-headquarters-abu\" style=\"\" rel=\"noopener\">Wam<\/a>. This comes after the company was acquired by Abu Dhabi Investment Group in <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1792.pdf\" style=\"\" rel=\"noopener\">November 2023 (pdf)<\/a>. The company seeks to leverage the emirate\u2019s aviation facilities, regulatory framework, and strategic location next to key markets to boost its MENA market share and expand operations in the region, focusing on Saudi Arabia, Kuwait, Qatar, Egypt and Turkey. It is the first platform to offer sophisticated jet chartering services in the UAE.<\/p>\n<p class=\"tag-border-left\"> INFRASTRUCTURE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Energy and Infrastructure Ministry has <\/strong><strong><a target=\"_blank\" href=\"https:\/\/twitter.com\/MOEIUAE\/status\/1783057559693271191\" style=\"\" rel=\"noopener\">launched tenders<\/a><\/strong><strong> for four <\/strong><strong>construction and renovation projects: <\/strong><\/p>\n<ul>\n<li><strong>Construction of<\/strong><strong> an additional building for the Federal Authority for Identity and Citizenship in Abu Dhabi<\/strong>, with a bidding deadline on 30 April; <\/li>\n<li><strong>Renovating the Energy and Infrastructure Ministry building in Sharjah<\/strong>, with a bidding deadline on 30 April; <\/li>\n<li><strong>Providing engineering consulting services for the construction of a correctional facility in Sharjah<\/strong>, with the deadline for bidding on 8 May; <\/li>\n<li><strong>Completing the construction of the General directorate Civil Defense Building in Ras Al Khaimah<\/strong>, with a bidding deadline on 16 May. More details on the tenders are available on the ministry\u2019s <a target=\"_blank\" href=\"https:\/\/infradservices.moei.gov.ae\/en-us\/Competition\/Pages\/AvailableTenders.aspx\" style=\"\" rel=\"noopener\">website<\/a>.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi\/\">Abu Dhabi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adx\/\">ADX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/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\/aviation\/\">Aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/central-bank-of-the-uae\/\">Central Bank of the UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai-international-financial-center\/\">Dubai International Financial Center<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/etihad-rail\/\">Etihad Rail<\/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\/healthcare\/\">Healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/siemens\/\">Siemens<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/tech\/\">tech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"91340\" 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=\"91340\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/25\/third-wave-of-bond-default-looms-in-china\/\">\r\n                            Third wave of bond default looms in China                        <\/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 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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91341\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/25\/third-wave-of-bond-default-looms-in-china\/1554-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1554.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1554.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1554.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1554.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91340\" class=\"content-area-description single-story post-91340 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-china tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.6b1ce6b8-1514-4ca1-b6fe-17134681d7e0.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>China\u2019s economy is edging closer to a potential third wave of bond defaults<\/strong>, on the back of sluggish economic growth, tight government policies and high financing costs, according to a <a target=\"_blank\" href=\"https:\/\/www.spglobal.com\/ratings\/en\/research\/articles\/240423-china-could-face-a-third-default-wave-after-the-current-trough-13082861\" style=\"\" rel=\"noopener\">report<\/a>&nbsp;from S&amp;P Global. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This scenario, expected as early as next year, would mark the third wave of corporate <\/strong><strong>defaults in 10 years<\/strong>, signaling that the government\u2019s current directives might be \u201ccreating distorted incentives in the economy,\u201d Charles Chang, greater China country lead for corporates at S&amp;P told <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/04\/24\/china-may-have-to-brace-for-a-new-wave-of-bond-defaults-sp-says.html\" style=\"\" rel=\"noopener\">{CNBC}<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\u201c<strong>Policies aimed at reining in excessive leverage drove the two default waves so far.<\/strong> More policies with similar aims, scale, and effects may lead to the next wave of defaults,\u201d Chang said in the report.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Too much interference in the market?<\/strong> China\u2019s corporate bond default rate fell to 0.2% in 2023, the lowest in at least eight years and well below the 2.6% global rate, according to S&amp;P data. \u201cTo a certain extent this is not a good sign, because we see this divergence as something that\u2019s not the result of the functioning of markets,\u201d Chang said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cWe\u2019ve seen directives or guidance from the government in the past year to discourage<\/strong><strong> defaults in the bond market.\u201d <\/strong>But the future of the bond market in the country \u2014 once those directives end \u2014 remains uncertain, he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Stabilizing the real property sector is key<\/strong>,<strong> <\/strong>as it can \u201cpotentially ease off some of the negative wealth effects that we\u2019ve been seeing since the middle of last year,\u201d according to Chang. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Navigating the risks:<\/strong> The Chinese government should prioritize addressing the real estate market slump in a \u201ccomprehensive strategy,\u201d that includes financial risk management, productivity growth and bolstering social safety nets to encourage consumer spending, according to Director of the Fiscal Affairs Department at the IMF, Vitot Gaspar.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"background-color: transparent;\">THE MARKETS THIS MORNING-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are down this morning following two straight days of rallies<\/strong>, with Japan\u2019s Nikkei 225 falling 1.8% and South Korea\u2019s Kospi slipping 1.12%. <strong>US futures also fell<\/strong> after Meta\u2019s disappointing earnings forecast and ahead of the release of US GDP data later today.<\/p>\n<p><a target=\"_blank\" id=\"t.8cd4139eecbb3cd3c72436e7b934952c511a8854\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p>\n<div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,045<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: -5.6%)<\/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\">4,167<\/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: +2.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Nasdaq Dubai UAE20<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3,554<\/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: -7.5%)<\/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>USD : AED<\/strong><strong> CBUAE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 3.67<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 3.67<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EIBOR<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4.9% 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-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,355<\/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\">-1.0% (YTD: +3.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">25,917<\/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\">-3.2% (YTD: +4.1%)<\/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>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\">5,061.9<\/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: +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\">8,036.7<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +4.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,983.6<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.5% (YTD: +11.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">87.8<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">1.7<\/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\">-5.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">2,345.5<\/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%<\/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\">64,805.8<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.9% (YTD: +137%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ADX fell 0.1% yesterday<\/strong> on turnover of AED 990.6 mn. The index is down 5.6% 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>Presight AI Holding (+4.8%), Bayanat (+4.1%) and Abu Dhabi National Company for Building Materials (+4.1%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Rapco Investment (-9.2%), Palms Sports (-8.2%) and Al Seer Marine Supplies and Equipment (-2.8%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over on the DFM<\/strong>, the index stayed flat on turnover of AED 546.2 mn. Meanwhile, Nasdaq Dubai fell 0.2%.<\/p>\n<p class=\"tag-border-left\">CORPORATE ACTIONS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E&amp; has approved a new progressive dividend policy<\/strong> that will see it pay out dividends with an annual increase of 3 fils per share for the next three years, reaching a dividend per share of 89 fils by 2026, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1756.pdf\" style=\"\" rel=\"noopener\">bourse filing (pdf)<\/a>. The company paid out some AED 3.5 bn in dividends for 1H 2023, and will pay another AED 3.5 bn for 2H 2023 on 10 May. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Wathba National Ins. has approved a dividend payout of AED 51 mn for 2023<\/strong>,according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1772.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E7 Group has agreed on a 1:10 share split<\/strong>, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1796.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>. Each existing share, valued at AED 2.5, will now be split into ten shares, each valued at AED 0.25. The share capital of the company is AED 524 mn, constituting approximately 2 bn shares with a nominal value of AED 0.25 each.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Americana Restaurants International has approved a dividend payout of AED 661 <\/strong><strong>mn for 2023<\/strong>, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1817.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                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<img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1765.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91343\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/25\/uae-to-invest-usd-500-mn-in-kenya-including-in-mining-and-tech-ecuador-next-in-line-for-trade-agreement\/1765-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1765.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1765.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1765.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1765.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91342\" class=\"content-area-description single-story post-91342 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-diplomacy tag-gaza tag-mining tag-trade 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\/.e89614e4-f6b3-40c5-a18a-37515087ead9.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE, Kenya ink USD 500 mn investment framework agreement:<\/strong> Abu Dhabi sovereign wealth fund ADQ and Kenya\u2019s National Treasury and Economic Planning Ministry have entered into a USD 500 mn framework agreement, seeking to invest in key sectors within the East African nation, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b2tgm6o-adq-establishes-framework-agreement-worth-500\" style=\"\" rel=\"noopener\">Wam<\/a> wrote.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u2026and agree to collaborate on mining and tech: <\/strong>The UAE\u2019s Investment Ministry and Kenya's Ministry of Finance and National Treasury have also signed an MoU to collaborate on investments in the fields of mining and technology, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b2tgm6p-uae-kenya-sign-investment-mou-develop-mining\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The two countries will look at cooperation in mineral exploration, mine development, mineral processing, refining, and mineral marketing, as well as research and development in the sector, in Kenya. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> Foreign Trade Minister Thani Al Zeyoudi finalized a trade and economic agreement with his Kenyan counterpart Rebecca Miano in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/3e973d68-8287-4d82-abec-a21a75edb941\/uae,%253cmark%253e-kenya%253c%2Fmark%253e-finalize-trade-agreement\" style=\"\" rel=\"noopener\">February<\/a>, aiming to support growth in trade and investment flows, as well as cooperation on food production, mining, technology, and logistics.<\/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>Another trade and economic agreement coming?&nbsp;<\/strong>Foreign Trade Minister Thani bin Ahmed Al Zeyoudi and his Ecuadorian counterpart Sonsoles Garcia agreed to kick off negotiations for a trade and economic partnership agreement between both countries, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/13vquxx-uae-ecuador-announce-intent-commence-cepa\" style=\"\" rel=\"noopener\">Wam<\/a> reported yesterday. The minister namechecked agriculture, tourism, infrastructure, technology, renewable energy as potential sectors for cooperation. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> The UAE signed an economic and trade agreement <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/7fe33ad7-2474-409b-b42e-6f605d19bdfa\/uae-and-colombia-ink-trade-and-economic-agreement.-plus:-new-eu-gcc-climate-platform-and-bin-zayed-phones-iranian-fm\" style=\"\" rel=\"noopener\">with Colombia<\/a> last week, one day after <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/9994b950-7b03-4bcc-8cd5-b20e99edab0f\/uae-pledges-usd-100-mn-to-support-sudan-%2B-inks-trade-agreement-with-costa-rica\" style=\"\" rel=\"noopener\">inking another with Costa Rica<\/a>, the latest in a series of agreements aimed at boosting the UAE\u2019s non-oil foreign trade. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"background-color: transparent;\">OTHER DIPLOMACY NEWS-<\/span><\/p>\n<ul>\n<li><strong>President Sheikh Mohamed bin Zayed Al Nahyan met with Bahraini King Hamad bin Isa Al Khalifa<\/strong> to explore boosting ties, discuss the situation in the region and urge de-escalation and calm, and strengthen Gulf relations. (<a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b2tgluz-uae-president-king-bahrain-discuss-fraternal\" style=\"\" rel=\"noopener\">Wam<\/a>)<\/li>\n<li><strong>Foreign Affairs Minister Abdullah bin Zayed Al Nahyan also met with his Bahraini counterpart<\/strong>, to discuss boosting cooperation and the situation in Gaza. (<a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b2tglrr-abdullah-bin-zayed-receives-bahraini\" style=\"\" rel=\"noopener\">Wam<\/a>) <\/li>\n<li><strong>President Sheikh Mohamed bin Zayed Al Nahyan also spoke with Spanish Prime Minister Pedro Sanchez<\/strong> over the phone to discuss boosting ties and the situation in the region. (<a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b2tgmcf-uae-president-and-prime-minister-spain-discuss\" style=\"\" rel=\"noopener\">Wam<\/a>)<\/li>\n<li><strong>Justice Minister Abdullah bin Sultan Al Nuaimi met with Albanian Interior Minister Taulant Balla to discuss judicial cooperation<\/strong> and exchanging expertise in the fields of extradition and combating money laundering and crime. (<a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b2tgm6n-minister-justice-albanian-interior-minister\" style=\"\" rel=\"noopener\">Wam<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/gaza\/\">Gaza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/mining\/\">mining<\/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=\"91344\" 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\/25\/91344-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91344\" class=\"content-area-description single-story post-91344 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 style=\"font-weight:400;\">21 April-7 May (Sunday- Tuesday): The ICC Women's T20 World Cup Global Qualifier 2024. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">23-25 April (Tuesday-Thursday): Connecting Green Hydrogen MENA, Madinat Jumeirah Conference Centre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>23-25 April (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.argusmedia.com\/en\/events\/conferences\/fertilizer-asia-conference\" style=\"\">Argus Fertilizer Asia Conference<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>23-25 April (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.domotex.de\/en\/about-us\/domotex-worldwide\/domotex-middle-east\/\" style=\"\">Domotex Middle East 2024<\/a><\/span><span 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>23-25 April (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/avpn.asia\/conference\/\" style=\"\">The AVPN Global Conference 2024<\/a><\/span><span style=\"font-weight:400;\">, The St. Regis Saadiyat Island Resort and Park Hyatt Abu Dhabi Hotel and Villas, 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;\">23-29 April (Tuesday-Monday): Subscription period for retail investors for Spinneys\u2019 IPO.<\/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;\">23-30 April (Tuesday-Tuesday): Subscription period for institutional investors for Spinneys\u2019 IPO.<\/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>27-28 April (Saturday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.frontiersincancer.com\/\" style=\"\">Frontiers in Advanced Hepato-Biliary Cancers and Transplant Oncology<\/a><\/span><span style=\"font-weight:400;\">, Cleveland Clinic 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 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>28 April (Sunday): International Congress of Arabic Publishing and Creative Industries, Manarat Al Saadiyat in Abu Dhabi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>29-30 April (Monday- Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/events.globalreinsurance.com\/dwic\/\" style=\"\">Dubai World Ins. Congress<\/a><\/span><span style=\"font-weight:400;\">, Atlantis, The Palm. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>29 April- 5 May (Friday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/adbookfair.com\/en\/adibf\/participation-terms-and-conditions\" style=\"\">The Abu Dhabi International Book Fair<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi National Exhibition Centre (ADNEC). <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MAY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1-2 May (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.capitalmarketsummit.ae\/\" style=\"\">Capital Markets Summit<\/a><\/span><span style=\"font-weight:400;\">, Madinat Jumeirah, Dubai  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1-5 May (Wednesday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.sharjahanimation.com\/agenda\" style=\"\">The Sharjah Animation Conference<\/a><\/span><span style=\"font-weight:400;\">, Expo Centre Sharjah. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>6-7 May (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/dubaifintechsummit.com\/\" style=\"\">Dubai Fintech Summit 2024<\/a><\/span><span style=\"font-weight:400;\">, Madinat Jumeirah.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>6-9 May (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wtm.com\/atm\/en-gb\/lp\/register-for-arabian-travel-market.html?utm_source=google&utm_medium=cpc&utm_campaign=cpc&utm_content=search_branded&gad_source=1&gclid=CjwKCAjwh4-wBhB3EiwAeJsppIU3GbvlJ38AFwezne5fd-tNEyE4gz2rOCTb_BMKLmi6gtMVN4PHWRoCEH0QAvD_BwE\" style=\"\">The Arabian Travel Market<\/a><\/span><span style=\"font-weight:400;\">, Dubai World Trade Centre, Dubai. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>7-9 May (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.aimcongress.com\/\" style=\"\">AIM Congress<\/a><\/span><span style=\"font-weight:400;\"> 2024, Abu Dhabi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">8-9 May (Wednesday-Thursday): Innovative Finance Expo, Jumeirah Emirates Towers.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>8-12 May (Wednesday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.tradearabia.com\/news\/TTN_419864.html\" style=\"\">Schmetterling Annual Conference<\/a><\/span><span style=\"font-weight:400;\">, Al Ain and Abu Dhabi. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">9 May (Thursday): Spinneys shares begin trading.<\/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 style=\"font-weight:400;\">27-29 May (Monday-Wednesday): Arab Media Forum, Dubai.<\/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;\">Signposted to happen sometime in 1H 2024:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Spinneys inaugurates its first store in KSA<\/span><\/li>\n<\/ul>\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<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime before the end of the year:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Spinneys inaugurates three more stores in KSA<\/span><\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>ADQ launches investment platform with Australia\u2019s Plenary | USD 500 mn investment in Kenya | CBD, Adib, and Palm Sports report 1Q earnings<\/p>\n","protected":false},"featured_media":91319,"menu_order":0,"template":"","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-91318","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"32bc4366-3e66-4624-83cc-97dd5f5cc0c4","teaser":"ADQ launches investment platform with Australia\u2019s Plenary | USD 500 mn investment in Kenya | CBD, Adib, and Palm Sports report 1Q earnings","photo_url":"https:\/\/ent.news\/2024\/2\/2819.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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