{"id":91368,"date":"2024-04-26T00:00:00","date_gmt":"2024-04-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=91368"},"modified":"2025-12-15T00:09:17","modified_gmt":"2025-12-15T00:09:17","slug":"banks-post-solid-1q-2024-earnings","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/banks-post-solid-1q-2024-earnings\/","title":{"rendered":"Banks post solid 1Q 2024 earnings"},"content":{"rendered":"<section id=\"91370\" 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=\"91370\">\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\/26\/updates-on-potential-acquisitions-from-adq-and-borouge-barcelona-fc-could-get-funds-from-dubai-investors\/\">\r\n                            THIS MORNING: Updates on potential acquisitions from ADQ and Borouge + Barcelona FC could get funds from Dubai investors                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/26\/updates-on-potential-acquisitions-from-adq-and-borouge-barcelona-fc-could-get-funds-from-dubai-investors\/1531-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1531.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1531.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1531.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1531.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91370\" class=\"content-area-description single-story post-91370 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-adq tag-borouge tag-ma-watch tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.5509a6a4-7484-4dc5-8cc7-a246056e3d67.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Good morning, wonderful people<\/strong><span style=\"background-color: transparent;\">, and welcome to a brisk issue as we wrap up a busy week.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The big stories here at home<\/strong> include <strong>fresh trade and macro figures<\/strong> from Vice President Sheikh Mohammed bin Rashid Al Maktoum, as well as news that <strong>Bayanat and Yahsat\u2019s merger has received shareholder approval<\/strong>, and a host of <strong>strong bank earnings<\/strong>.<\/p>\n<p class=\"tag-border-left\"> PUBLIC SERVICE ANNOUNCEMENTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- We\u2019re in for another foggy weekend<\/strong>, with skies expected to be clouded by rain and light fog until Sunday, the National Center of Meteorology <a target=\"_blank\" href=\"https:\/\/twitter.com\/ncmuae\/status\/1783528479041999294\" style=\"\" rel=\"noopener\">said on X<\/a>. Temperatures will hover around highs of 33\u00b0C in Dubai today and 36\u00b0C tomorrow, with overnight lows of 24\u00b0C. In <strong>Abu Dhabi<\/strong>, expect a higher chance of rain and highs of 36\u00b0C, with an overnight low of 20\u00b0C. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Reports of water contamination have surfaced in a small number of cases<\/strong> in thecountry after heavy rainfall, with the exact number undisclosed, the <a target=\"_blank\" href=\"https:\/\/twitter.com\/mohapuae\/status\/1783207296086012109\" style=\"\" rel=\"noopener\">Health Ministry said<\/a>. The ministry did not reveal a cause for the contamination but did mention that the affected individuals received hospital treatment for their symptoms.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- There\u2019s a new health office in town: <\/strong>The Dubai Health Authority has established adisaster and crisis management office to ramp up the emirate\u2019s health security system, focusing on readiness and capabilities for emergencies, according to <a target=\"_blank\" href=\"https:\/\/dha.gov.ae\/en\/media\/news\/886\" style=\"\" rel=\"noopener\">a statement<\/a>. The office will develop and manage the emergency, crisis, and disaster system with support from the recently launched Dubai Disaster and Crisis Medicine Programme, which aims to train some 10k government and private healthcare professionals over five years on emergency response skills. It will also be tasked with rolling out preventive strategies and training specialists to address disasters.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Schools in Sharjah are returning to in-person classes as of Monday<\/strong>, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b2u21mj-in-person-education-resumes-sharjah-monday\" style=\"\" rel=\"noopener\">Wam<\/a> reports. Schools in the emirate had temporarily moved online due to last week\u2019s storms and flooding.<\/p>\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>#1- KKR and Co. won\u2019t sell Upfield to ADQ: <\/strong>Private equity firm KKR and Co. has shelved the sales process for Flora and Country Crock spreads maker Upfield, after negotiations with Abu Dhabi sovereign wealth fund ADQ fell through over price disagreements, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-24\/kkr-shelves-10-billion-upfield-sale-after-adq-talks-fall-apart\" style=\"\" rel=\"noopener\">Bloomberg<\/a>&nbsp;reports, citing people with knowledge of the matter. The buyout firm, which had planned to raise USD 10 bn from the sale, is now considering retaining Upfield for longer, in addition to an IPO or minority stake sale, as Upfield drew \u201cmuted interest\u201d from private equity bidders, the sources added. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#2- Borouge-Borealis merger facing more delays?<\/strong> Talks between the Abu Dhabi National Oil Company (Adnoc) and Austria-based integrated oil and gas company OMV on a planned merger of ADX-listed <a target=\"_blank\" href=\"https:\/\/www.borouge.com\/en\/Pages\/home.aspx\" style=\"\" rel=\"noopener\">Borouge<\/a> and <a target=\"_blank\" href=\"https:\/\/www.borealisgroup.com\/\" style=\"\" rel=\"noopener\">Borealis<\/a> could continue to face delays until after Austria\u2019s national elections in the fall, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-25\/uae-deal-to-create-chemicals-giant-delayed-by-austria-elections?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>&nbsp;reports, citing several people with knowledge of the matter. The agreement, <a target=\"_blank\" href=\"https:\/\/www.omv.com\/en\/news\/omv-decides-to-pursue-negotiations-with-adnoc-on-a-potential-cooperation-regarding-their-polyolefins-businesses-\" style=\"\" rel=\"noopener\">initially announced in July<\/a>, is expected to be worth some USD 30 bn as the two companies create a combined petrochemical holding entity. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The sticking points:<\/strong> OMV is reportedly \u201cresisting\u201d injecting some EUR 1.7 bn into the merger to ensure an equal stake to Adnoc in the new entity, while Adnoc is reportedly resisting a push from the Austrian side to see the merged company listed on a second exchange, Bloomberg\u2019s sources say. Meanwhile, Borealis CEO Thomas Gangl \u2014 \u201can advocate of the [transaction]\u201d \u2014 has resigned from his position, which has impacted the progression of the negotiations, Bloomberg says. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Barcelona FC is reportedly in talks with unnamed Emirati investors to secure<\/strong><strong> a funding agreement<\/strong>, as the football club looks to secure additional income, <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/63013\/%D8%B1%D9%8A%D8%A7%D8%B6%D8%A9-%D9%88%D9%85%D8%A7%D9%84-%D8%A8%D8%B1%D8%B4%D9%84%D9%88%D9%86%D8%A9-%D9%8A%D8%AA%D9%88%D8%A7%D8%B5%D9%84-%D9%85%D8%B9-%D9%85%D8%B3%D8%AA%D8%AB%D9%85%D8%B1%D9%8A%D9%86-%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA%D9%8A%D9%8A%D9%86-%D9%84%D8%A5%D9%86%D9%82%D8%A7%D8%B0%D9%87-%D9%85%D8%A7%D9%84%D9%8A%D8%A7\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>&nbsp;reports, citing Spanish newspaper <a target=\"_blank\" href=\"https:\/\/www.mundodeportivo.com\/futbol\/fc-barcelona\/20240423\/1002233657\/posibles-negocios-barca-dubai-estados-unidos.html\" style=\"\" rel=\"noopener\">Mundo Deportivo<\/a>. The club is looking for a funding alternative after the failure of its agreement with German company Libro Football Finance, which bought a 10% stake in Barca Vision for EUR 60 mn but failed to fulfill payment commitments.<\/p>\n<p class=\"tag-border-left\"> HAPPENING THIS WEEK-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>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.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.admw.ae\/en\/\" style=\"\" rel=\"noopener\">Abu Dhabi Mobility Week<\/a><\/strong><strong> kicked off on Wednesday. <\/strong>The event, which is being organized by the Department of Municipalities and Transport, is geared towards developing the transportation landscape in Abu Dhabi. Hosting representatives from Abu Dhabi Department of Economic Development, Abu Dhabi Airports, Etihad Rail, Etihad Airways, and other sector players, the event closes on 1 May.<\/p>\n<p class=\"tag-border-left\">OUR NEXT CONFERENCE IN CAIRO-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><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><\/p>\n<p style=\"padding:0;margin:0;line-height:1.0;orphans:2;widows:2;text-align:left\"><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<\/p>\n<p style=\"padding:0;margin:0;line-height:1.0;orphans:2;widows:2;text-align:left\"><strong>We\u2019ll be talking with you about the agenda over the coming couple of weeks.<\/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. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.0;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/optimism.enterprise.news\/\" style=\"\" rel=\"noopener\">*** Interested in attending? Tap or click here to let us know.<\/a>&nbsp;<\/strong>Seating is limited. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><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> <\/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 BIG STORY ABROAD-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Earnings season still dominates front pages in the Western business press<\/strong>, with yesterday seeing Big Tech report 1Q 2024 results. The highlights:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Google parent Alphabet announced its first ever dividend payout and a plan to buy back USD 70 bn in shares<\/strong>, after beating forecasts with revenues coming in at <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1858.pdf\" style=\"\" rel=\"noopener\">USD 80.54 bn (pdf)<\/a>. The dividend payout, which comes after Meta announced its first dividend earlier this year, sent shares soaring 16% after the bell \u2014 setting it up for a more than USD 2 tn valuation. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/google-parent-alphabet-announces-first-ever-divided-20-cents-per-share-2024-04-25\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Microsoft also beat estimates as AI investments bear fruit<\/strong>, with revenues rising 17% y-o-y to USD 61.9 bn and net income rising to USD 21.9 bn, according to its <a target=\"_blank\" href=\"https:\/\/www.microsoft.com\/en-us\/Investor\/earnings\/default.aspx\" style=\"\" rel=\"noopener\">earnings release<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Snap saw its shares jump 25% in after hours trading<\/strong> after beating analyst expectations with a 21% y-o-y increase in revenues to USD 1.2 bn, according to its <a target=\"_blank\" href=\"https:\/\/www.nasdaq.com\/press-release\/snap-inc.-announces-first-quarter-2024-financial-results-2024-04-25\" style=\"\" rel=\"noopener\">earnings release<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- The one outlier was Intel, which missed analyst expectations as it suffers weakened demand for its PC chips<\/strong> and traditional data centers, as more companies eye more advanced AI server chips. Shares in Intel fell 8% following the results, which showed <a target=\"_blank\" href=\"https:\/\/www.intc.com\/news-events\/press-releases\/detail\/1692\/intel-reports-first-quarter-2024-financial-results\" style=\"\" rel=\"noopener\">revenues of USD 12.72 bn<\/a> during the quarter. <\/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>IN OTHER BUSINESS NEWS- TikTok parent ByteDance said it would rather shut down its <\/strong><strong>business in the US than sell it <\/strong>if push comes to shove and it is unable to legally fight <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\" style=\"\" rel=\"noopener\">US President Joe Biden\u2019s legislation<\/a> to ban the app from US app stores. Sources said the parent company would not want to give up its algorithm, which are core to its operations. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/bytedance-prefers-tiktok-shutdown-us-if-legal-options-fail-sources-say-2024-04-25\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p class=\"tag-border-left\"> CIRCLE YOUR CALENDAR- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The World Economic Forum\u2019s<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.weforum.org\/events\/special-meeting-on-global-collaboration-growth-and-energy-for-development-2024\/about\/\" style=\"\" rel=\"noopener\"><\/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. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It will feature over 700 participants, including Economy Minister Abdulla Bin Touq<\/strong>, who will sit on a <a target=\"_blank\" href=\"https:\/\/www.weforum.org\/events\/special-meeting-on-global-collaboration-growth-and-energy-for-development-2024\/sessions\/vacationomics\/\" style=\"\" rel=\"noopener\"><\/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>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><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. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><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. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>T<\/strong><strong>he Abu Dhabi International Book Fair is set to take place from 29 April to 5 May <\/strong>at the Abu Dhabi National Exhibition Centre (Adnec), with Egypt as the guest of honor and Egyptian novelist Naguib Mahfouz as the focus personality. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Arabian Travel Market is taking place from 6-9 May at DWTC Dubai<\/strong> under the theme Transforming Travel Through Entrepreneurship. The event will focus on issues relating to entrepreneurial strategies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/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. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.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.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/commodityinsights.spglobal.com\/mpgc.html?utm_source=google&amp;utm_medium=cpc&amp;utm_campaign=q2_2024_emea_events_mpgc&amp;utm_content=advert2&amp;utm_term=conferences&amp;gclid=Cj0KCQjw_qexBhCoARIsAFgBlesc2VesT9r8VORd_K-RgkzohOU9Of4VXtk10bx42ptVJMeOi2x_gdgaAjX3EALw_wcB\" style=\"\" rel=\"noopener\">Middle East Petroleum and Gas Conference<\/a><\/strong><strong> is set to take place from 20-22<\/strong><strong> May in Dubai<\/strong>, hosted by the Emirates National Oil Company and under the organization of S&amp;P Global Commodity Insights. The theme of the conference is \u201cEvolving Core Energy Markets within a Sustainable Landscape.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adq\/\">ADQ<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/borouge\/\">Borouge<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"91372\" 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=\"91372\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/26\/total-foreign-trade-reached-a-record-aed-4-45-tn-in-2023\/\">\r\n                            Total foreign trade reached a record AED 4.45 tn in 2023                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/26\/total-foreign-trade-reached-a-record-aed-4-45-tn-in-2023\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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More than AED 170 bn of total service exports in 2023 were generated from digital service exports, according to Al Maktoum.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Non-oil trade hit a record AED 3.5 tn in 2023, Al Maktoum said back in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ba7a061f-b01f-46a6-8b9b-c1b1af38d4f1\/%253cmark%253enon-oil%253c%2Fmark%253e-foreign%253cmark%253e-trade%253c%2Fmark%253e-reaches-aed-3.5-tn-in-2023\" style=\"\" rel=\"noopener\">February<\/a>. Trade in goods was up 12.6% y-o-y to AED 2.6 tn, while trade in services hit AED 900 bn. Exports of goods and services surpassed AED 1 tn for the first time. The UAE\u2019s merchandise exports during the year came in at about USD 488 bn (AED 1.792 tn), according to a recent World Trade Organization <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/b464716a-3011-4f5a-af6e-fd06a39ec339\/the-uae%25e2%2580%2599s%253cmark%253e-exports%253c%2Fmark%253e-hit-usd-488-bn-in-2023-%25e2%2580%2593wto\" style=\"\" rel=\"noopener\">report<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE was ranked 15th globally for outward foreign direct investment (FDI) <\/strong><strong>in 2023<\/strong>, the vice president said in a separate <a target=\"_blank\" href=\"https:\/\/x.com\/HHShkMohd\/status\/1783116124546125899\" style=\"\" rel=\"noopener\">X post<\/a>, citing United Nations Conference on Trade and Development data. Outward FDI flows surpassed AED 880 bn at the start of the year, according to the post.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context #1:<\/strong> The UAE pledged some USD 44.5 bn in outward foreign direct investments, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-03-21\/uae-eyes-further-africa-deals-after-egypt-bailout\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported previously, citing data from fDi Markets. In 2022, it pledged USD 52.8 bn in FDI investments in 2022, which exceeded Beijing\u2019s contributions 20x and those of the US 7x,. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context #2: <\/strong>TotalEmirati investments overseas reached an estimated USD 2.5 tn at the beginning of 2024, UAE International Investors Council Secretary-General Jamal bin Saif Al Jarwan said recently, according to <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b280zx0-uae-investments-abroad-hit-25-trillion-beginning\" style=\"\" rel=\"noopener\">Wam<\/a>. One of the UAE\u2019s \u201clandmark\u201d investments overseas is ADQ\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b0b97fcf-95b0-4d39-86ae-0a4989221520\" style=\"\" rel=\"noopener\">USD 35 bn investment<\/a> to develop Egypt\u2019s Ras Al Hekma, which is expected to drive the UAE\u2019s total investments in Egypt to around USD 65 bn, according to Al Jarwan.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/economy\/\">Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/fdi\/\">FDI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/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=\"91374\" 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=\"91374\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/26\/bayanat-yahsat-merger-gets-shareholder-approval\/\">\r\n                            Bayanat-Yahsat merger gets shareholder approval                        <\/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\/26\/bayanat-yahsat-merger-gets-shareholder-approval\/\" 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 merger will create a new entity, Space42, which is set to become the first AI-powered space tech company in the MENA region. The two companies had first announced their plans to merge <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/e404c4cb-b66f-4b7d-9f8c-007d02b2a771\/%253cmark%253ebayanat%253c%2Fmark%253e-%2B-yahsat-agree-on-all-share-merger\" style=\"\" rel=\"noopener\">back in December<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Refresher:<\/strong> The merger \u2014 which is expected to be valued at AED 15 bn (c.USD 4 bn) \u2014 will be executed via a share swap, with Bayanat holding 54% of Space42 and Yahsat holding the remaining balance. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next?<\/strong> The transaction is now pending regulatory approval before it\u2019s executed. The companies had previously said they expect the merger to come into effect in 2H 2024. Post-merger, Yahsat will delist from the ADX.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong> Houlihan Lokey counseled Bayanat with FTI Capital Advisors offering advisory support to Yahsat.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/bayanat\/\">Bayanat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma\/\">M&amp;A<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/space42\/\">Space42<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/yahsat\/\">Yahsat<\/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=\"91376 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=\"91376\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/26\/91376-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91376\" class=\"content-area-description single-story post-91376 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.mashreq.com\/en\/uae\/about-us\/our-company\/awards-accolades\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/945.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"91377\" 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=\"91377\">\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\">TRANSPORT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/26\/emirati-omani-consortium-snags-usd-1-35-bn-contract-for-uae-oman-rail-link\/\">\r\n                            Emirati-Omani consortium snags USD 1.35 bn contract for UAE-Oman rail link                        <\/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\/26\/emirati-omani-consortium-snags-usd-1-35-bn-contract-for-uae-oman-rail-link\/\" 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\/26\/emirati-omani-consortium-snags-usd-1-35-bn-contract-for-uae-oman-rail-link\/')\">\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\/26\/emirati-omani-consortium-snags-usd-1-35-bn-contract-for-uae-oman-rail-link\/\">\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=Emirati-Omani consortium snags USD 1.35 bn contract for UAE-Oman rail link&url=https:\/\/enterpriseam.com\/uae\/2024\/04\/26\/emirati-omani-consortium-snags-usd-1-35-bn-contract-for-uae-oman-rail-link\/\">\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\/26\/emirati-omani-consortium-snags-usd-1-35-bn-contract-for-uae-oman-rail-link\/&title=Emirati-Omani consortium snags USD 1.35 bn contract for UAE-Oman rail link\">\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=Emirati-Omani+consortium+snags+USD+1.35+bn+contract+for+UAE-Oman+rail+link+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F04%2F26%2Femirati-omani-consortium-snags-usd-1-35-bn-contract-for-uae-oman-rail-link%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\/26\/emirati-omani-consortium-snags-usd-1-35-bn-contract-for-uae-oman-rail-link\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1198.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91378\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/26\/emirati-omani-consortium-snags-usd-1-35-bn-contract-for-uae-oman-rail-link\/1198-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1198.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1198.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1198.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1198.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91377\" class=\"content-area-description single-story post-91377 post type-post status-publish format-standard has-post-thumbnail hentry category-transport tag-enterpriseam-uae tag-etihad-rail 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\/.cb63558c-6ddb-4a46-be7a-87a59e3d8196.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>USD 1.35 bn contract for UAE-Oman railway awarded:<\/strong> Oman\u2019s Galfar Engineering and Contracting's joint venture \u2014 including Trojan Construction Group \u2014 snapped up a USD 1.35 bn design and build contract for the UAE-Oman railway link, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/projects\/construction\/galfar-says-jv-bags-13bln-design-build-contract-for-abu-dhabi-sohar-rail-link-tb6v7wsv\" style=\"\" rel=\"noopener\">press release<\/a>. The construction timeline was not disclosed. The consortium also includes National Infrastructure Construction Company (NICC) and Tristar Engineering &amp; Construction, <a target=\"_blank\" href=\"https:\/\/www.meed.com\/contractors-win-oman-etihad-rail-packages\" style=\"\" rel=\"noopener\">Meed<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> The UAE and Oman <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> earlier this week, including AED 11 bn in allocations towards the rail link to kick off its construction. A contract <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/8fcdd964-ce57-4037-ad29-a1cb7e1979ac\/siemens-mobility-and-hassan-allam-construction-snag-uae-oman-rail-link-contract\" style=\"\" rel=\"noopener\">was also awarded<\/a> to Siemens Mobility and Egypt\u2019s Hassan Allam Construction to build, design and integrate signaling, telecom, and power supply systems for the railway link.<\/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 is 303 km long and connects Oman\u2019s Sohar Port to Abu Dhabi, in a bid to bolster trade between the countries. The rail line will serve both passenger and freight trains.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/etihad-rail\/\">Etihad Rail<\/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=\"91379\" 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=\"91379\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/26\/mashreq-emirates-nbd-adcb-and-united-arab-bank-post-solid-1q-earnings\/\">\r\n                            Mashreq, Emirates NBD, ADCB, and United Arab Bank post solid 1Q earnings                        <\/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\/26\/mashreq-emirates-nbd-adcb-and-united-arab-bank-post-solid-1q-earnings\/\" 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\/26\/mashreq-emirates-nbd-adcb-and-united-arab-bank-post-solid-1q-earnings\/')\">\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\/26\/mashreq-emirates-nbd-adcb-and-united-arab-bank-post-solid-1q-earnings\/\">\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=Mashreq, Emirates NBD, ADCB, and United Arab Bank post solid 1Q earnings&url=https:\/\/enterpriseam.com\/uae\/2024\/04\/26\/mashreq-emirates-nbd-adcb-and-united-arab-bank-post-solid-1q-earnings\/\">\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\/26\/mashreq-emirates-nbd-adcb-and-united-arab-bank-post-solid-1q-earnings\/&title=Mashreq, Emirates NBD, ADCB, and United Arab Bank post solid 1Q earnings\">\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=Mashreq%2C+Emirates+NBD%2C+ADCB%2C+and+United+Arab+Bank+post+solid+1Q+earnings+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F04%2F26%2Fmashreq-emirates-nbd-adcb-and-united-arab-bank-post-solid-1q-earnings%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\/26\/mashreq-emirates-nbd-adcb-and-united-arab-bank-post-solid-1q-earnings\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2673.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91380\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/26\/mashreq-emirates-nbd-adcb-and-united-arab-bank-post-solid-1q-earnings\/2673-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2673.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2673.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2673.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2673.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91379\" class=\"content-area-description single-story post-91379 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-abu-dhabi-commercial-bank tag-emirates-nbd 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\/.8c58357e-0c74-48ce-8665-9008a63aaf3a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> It\u2019s another day of bank-heavy earnings:<\/strong> Our friends at Mashreq, Emirates NBD, Abu Dhabi Commercial Bank, and United Arab Bank all reported their 1Q 2024 results yesterday. <\/p>\n<p class=\"tag-border-left\">MASHREQ-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our friends at Mashreq reported AED 2.0 bn in net income after tax in 1Q 2024<\/strong>, rising 25% y-o-y, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1859.pdf\" style=\"\" rel=\"noopener\">earnings report (pdf)<\/a>. On a pre-tax basis, net income came in at AED 2.3 bn (up 36% y-o-y), with the lender noting that its net income after tax remained strong despite the introduction of the 9% corporate tax.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Driving the growth:<\/strong> \u201cThe main drivers include exceptional business growth, healthy client margins, the current interest rate environment, and low risk costs,\u201d Mashreq said. The bank also reported 23% y-o-y growth in its net interest income, rising to AED 2.1 bn, which accounted for 68% of the lender\u2019s total revenues for the quarter. Non-interest income rose 29% y-o-y, coming in at nearly AED 997 mn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cMashreq has demonstrated remarkable strength and adaptability amid global challenges, maintaining solid asset growth, financing, and capital adequacy ratios,\u201d said Mashreq Chairman Abdul Aziz Al Ghurair. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead:<\/strong> \u201cOur efforts to launch our Digital Retail Bank in Pakistan remain afoot, which will mark a significant step in our international expansion,\u201d said Group CEO Ahmed Abdelaal. \u201cAdditionally, the initiation of corporate banking operations in the United Kingdom and the opening of a new branch in Mumbai are pivotal in our mission to deliver innovative banking solutions across diverse markets. In Egypt, the launch of Mashreq NEO represents a key development in offering simplified and innovative banking experiences, which align with our goals to enhance customer satisfaction,\u201d Abdelaal said.<\/p>\n<p class=\"tag-border-left\">EMIRATES NBD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emirates NBD reported a bottom line after tax of AED 6.7 bn in 1Q 2024,<\/strong> up 12% y-o-y and 67% from the previous quarter,according to the bank\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1842.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. The company attributes the net income growth to \u201cregional growth, increased transaction volumes, a low-cost funding base, and substantial impaired loan recoveries.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emirates NBD\u2019s Shariah-compliant banking arm, Emirates Islamic, posted a record <\/strong><strong>bottom line of AED 811 mn<\/strong> during the quarter. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Operating income rose 3% y-o-y to AED 10.7 bn during the quarter<\/strong>, on the back of loan and fee and commission growth, the bank said. Meanwhile, total assets crossed the AED 900 mn mark for the first time. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead:<\/strong>The bank sees the UAE\u2019s non-oil sector continuing to grow this year, and notes that it has yet to see impacts from geopolitical developments in the region on its operational environment, but remains \u201cmindful of the potential risks.\u201d<\/p>\n<p class=\"tag-border-left\">ADCB-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi Commercial Bank (ADCB)\u2019s net income after tax rose 14% y-o-y to AED <\/strong><strong>2.14 bn in 1Q 2024<\/strong>, according to the bank\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1851.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Growth was driven by \u201csolid loan growth\u201d in the lender\u2019s corporate and investment banking and retail banking businesses, with net loans from corporate and investment banking growing 28% y-o-y.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Net interest income increased 16% y-o-y to AED 3.3 bn<\/strong>, while non-interest income jumped 21% y-o-y to AED 1.29 bn. ADCB\u2019s operating income stood at AED 4.59 bn in 1Q 2024, up 17% y-o-y. Total assets during the quarter totaled AED 594 bn, representing an increase of 19% y-o-y, with interest earnings assets making up AED 492 bn. <\/p>\n<p class=\"tag-border-left\">UNITED ARAB BANK- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>United Arab Bank\u2019s net income after tax rose 25% y-o-y to AED 68 mn in 1Q 2024<\/strong>, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1860.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Meanwhile, total income increased 33% y-o-y to AED 163 mn during the quarter. The growth in net income came on the back of a \u201csignificant increase\u201d in the banks\u2019 assets, hitting AED 17.9 bn, as well as a prudent risk management approach, the bank said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead:<\/strong> \u201cWe will pursue our ambitious vision relentlessly and accelerate the pace of investments in our growth strategy with a focus on developing innovative products and services that meet all customer aspirations whilst upholding the highest standards of compliance and internal controls,\u201d Chairman Sheikh Mohammed bin Faisal bin Sultan Al Qassimi said.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi-commercial-bank\/\">Abu Dhabi Commercial Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/emirates-nbd\/\">Emirates NBD<\/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=\"91381\" 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=\"91381\">\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\">STARTUP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/26\/shorages-closes-usd-1-mn-pre-series-a-funding-from-saudi-based-joa-capital\/\">\r\n                            Shorages closes USD 1 mn pre-series A funding from Saudi-based Joa Capital                        <\/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\/26\/shorages-closes-usd-1-mn-pre-series-a-funding-from-saudi-based-joa-capital\/\" 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\/26\/shorages-closes-usd-1-mn-pre-series-a-funding-from-saudi-based-joa-capital\/')\">\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\/26\/shorages-closes-usd-1-mn-pre-series-a-funding-from-saudi-based-joa-capital\/\">\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=Shorages closes USD 1 mn pre-series A funding from Saudi-based Joa Capital&url=https:\/\/enterpriseam.com\/uae\/2024\/04\/26\/shorages-closes-usd-1-mn-pre-series-a-funding-from-saudi-based-joa-capital\/\">\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\/26\/shorages-closes-usd-1-mn-pre-series-a-funding-from-saudi-based-joa-capital\/&title=Shorages closes USD 1 mn pre-series A funding from Saudi-based Joa Capital\">\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=Shorages+closes+USD+1+mn+pre-series+A+funding+from+Saudi-based+Joa+Capital+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F04%2F26%2Fshorages-closes-usd-1-mn-pre-series-a-funding-from-saudi-based-joa-capital%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\/26\/shorages-closes-usd-1-mn-pre-series-a-funding-from-saudi-based-joa-capital\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2547.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91382\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/26\/shorages-closes-usd-1-mn-pre-series-a-funding-from-saudi-based-joa-capital\/2547-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2547.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2547.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2547.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2547.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91381\" class=\"content-area-description single-story post-91381 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterpriseam-uae tag-logistics tag-startup tag-startup-watch tag-venture-capital wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.fe79a71d-0be5-4427-a83c-a2b2d119b491.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Dubai-based<\/strong><strong>logistics startup <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.shorages.com\/\" style=\"\" rel=\"noopener\">Shorages<\/a><\/strong><strong> has secured USD 1 mn in a pre-series A <\/strong><strong>funding round <\/strong>following the company\u2019s expansion to Saudi Arabia in <a target=\"_blank\" href=\"https:\/\/www.shorages.com\/blog\/introducing-shorages-fulfillment-center-in-ksa\" style=\"\" rel=\"noopener\">November<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2024\/04\/shorages-raises-1-million-pre-series-round\" style=\"\" rel=\"noopener\">{press release}<\/a>. The seed round was led by Riyadh-based investment manager <a target=\"_blank\" href=\"https:\/\/www.joa.capital\/\" style=\"\" rel=\"noopener\">Joa Capital<\/a> through their S3 Ventures Fund.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The seed round will help <\/strong><strong>Shorages<\/strong><strong> expand its warehouses across the GCC, <\/strong>while also facilitating the expansion of more brands within Saudi Arabia, thus serving to build a \u201cbridge between the UAE and KSA,\u201d according to the statement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More on Shorages:<\/strong> Established in 2019 by Rayan Osseiran (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/rayan-osseiran-5725b49b\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), Shorages offers a network of fulfillment centers that can receive inventory and dispatch orders locally and internationally for contracted merchants. The company also has a management and order fulfillment system, allowing merchants to monitor their stock levels, order statuses, and sales performance, and offers product registration services.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/startup\/\">startup<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/startup-watch\/\">STARTUP WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/venture-capital\/\">VENTURE CAPITAL<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"91383\" 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=\"91383\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/26\/dnata-appoints-new-airport-operations-senior-vp-shakeup-at-shuaa\/\">\r\n                            Dnata appoints new airport operations senior VP + Shakeup at Shuaa                        <\/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\/26\/dnata-appoints-new-airport-operations-senior-vp-shakeup-at-shuaa\/\" 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\/26\/dnata-appoints-new-airport-operations-senior-vp-shakeup-at-shuaa\/')\">\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\/26\/dnata-appoints-new-airport-operations-senior-vp-shakeup-at-shuaa\/\">\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=Dnata appoints new airport operations senior VP + Shakeup at Shuaa&url=https:\/\/enterpriseam.com\/uae\/2024\/04\/26\/dnata-appoints-new-airport-operations-senior-vp-shakeup-at-shuaa\/\">\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\/26\/dnata-appoints-new-airport-operations-senior-vp-shakeup-at-shuaa\/&title=Dnata appoints new airport operations senior VP + Shakeup at Shuaa\">\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=Dnata+appoints+new+airport+operations+senior+VP+%2B+Shakeup+at+Shuaa+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F04%2F26%2Fdnata-appoints-new-airport-operations-senior-vp-shakeup-at-shuaa%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\/26\/dnata-appoints-new-airport-operations-senior-vp-shakeup-at-shuaa\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1786.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91384\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/26\/dnata-appoints-new-airport-operations-senior-vp-shakeup-at-shuaa\/1786-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1786.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1786.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1786.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1786.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91383\" class=\"content-area-description single-story post-91383 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-dnata tag-enterpriseam-uae tag-moves tag-shuaa-capital wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.d41d0e10-a041-410e-93a0-eb65392f844b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Dubai-based air services provider <strong><a target=\"_blank\" href=\"https:\/\/www.dnata.com\/en\" style=\"\" rel=\"noopener\">Dnata<\/a><\/strong> has appointed <strong>Clive Sauv\u00e9-Hopkins<\/strong> (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/clivesauvehopkins\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as <strong>senior <\/strong><strong>vice president <\/strong>of its <strong>airport operations division<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.dnata.com\/media-centre\/dnata-appoints-global-head-of-airport-operations\/\" style=\"\" rel=\"noopener\">statement<\/a>. Hopkins will oversee dnata\u2019s ground handling and cargo operations at 97 airports in 16 countries. Hopkins has held several senior leadership positions with Swissport, Servisair, Aviapartner, Qatar Airways, and the Abu Dhabi Developmental Holding Company, according to the press release.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shuaa Capital Chairman Fadhel Al Ali has stepped down after five years in the <\/strong><strong>position<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1853.pdf\" style=\"\" rel=\"noopener\">DFM disclosure (pdf)<\/a>. Three independent board members were also re-elected: Badr Al Olama (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/badr-al-olama-828816\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), Ahmed Al Ahmadi (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/ahmedalahmadi\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), and Hamda AlMheiri. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER:<\/strong> Shuaa Capital reached an agreement with its bondholders to restructure some <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/45e7e740-359e-4d17-9f86-21bf01480bbd\/%253cmark%253eshuaa%253c%2Fmark%253e%253cmark%253e-capital%253c%2Fmark%253e-restructures-usd-150-mn-debt\" style=\"\" rel=\"noopener\">USD 150 mn in outstanding bonds<\/a> owed by a special purpose vehicle it owns. The restructuring agreement came as the investment bank is pushing through a wider restructuring that it says is a checkpoint on the road to a \u201ccapital injection that will restore business stability and continuity,\u201d after its net losses <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/b3a43530-70c0-404c-8fa2-227e0c99abad\" style=\"\" rel=\"noopener\">deepened fivefold over the past year<\/a>. Shuaa had also said following the debt restructuring agreement it is \u201cputting in place a new management team and is working to complete its capital optimization plan imminently.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Dubai Crown Prince Sheikh Hamdan bin Mohamed Al Maktoum has tapped <strong>Muna Al<\/strong><strong> Marzooqi<\/strong> (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/muna-al-marzooqi-8a1ba9a8\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as <strong>Dubai Health Authority\u2019s CEO of corporate shared support services<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/www.albayan.ae\/uae\/news\/2024-04-25-1.4861446\" style=\"\" rel=\"noopener\">Al Bayan<\/a>. Al Marzooqi was previously head of the Federal Tax Authority\u2019s institutional excellence division. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Amlak Finance<\/strong> tapped <strong>Jamal Hamed Almarri<\/strong> as <strong>chairman<\/strong>, while <strong>Shaker Fareed <\/strong><strong>Zainal<\/strong> (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/shaker-zainal-17622b44\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) was named <strong>vice chairman<\/strong>, a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1852.pdf\" style=\"\" rel=\"noopener\">DFM disclosure (pdf)<\/a> reads. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dnata\/\">Dnata<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/shuaa-capital\/\">Shuaa Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"91385\" 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     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class=\"\r\n                story-section            \"\r\n            id=\"91386\">\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\/26\/climate-change-behind-the-intensity-of-last-weeks-storm\/\">\r\n                            How G42 fits into the US-China tech race                        <\/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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                       <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1861.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91387\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/26\/climate-change-behind-the-intensity-of-last-weeks-storm\/1861-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1861.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1861.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1861.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1861.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91386\" class=\"content-area-description single-story post-91386 post type-post status-publish format-standard has-post-thumbnail hentry category-uae-in-the-news tag-ai tag-china tag-climate-change tag-enterpriseam-uae tag-g42 tag-microsoft tag-tech 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\/.e992c566-024d-4743-b2a7-243ad24f417e.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Leading the conversation on the UAE in the foreign press:<\/strong> Reports that climate change was a major culprit behind last week\u2019s historic storms. Analysis from the World Weather Attribution research initiative indicated that climate change made the storm up to 40% more intense. Researchers have also suggested that the flooding, \u201cwhich came from two separate and near simultaneous storm systems, would not have happened without El Nino.\u201d (You can read more about <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/680f2e7e-93a5-401f-8562-ffdd0456b34b\" style=\"\" rel=\"noopener\">El Nino on Enterprise Climate, here<\/a>.) The <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/dubai-flooding-climate-change-cause-blame-d14743eb0e4a60c75074cb74bb44b035\" style=\"\" rel=\"noopener\">{Associated Press}<\/a> and <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-25\/dubai-flooding-was-up-to-40-more-intense-due-to-climate-change\" style=\"\" rel=\"noopener\">{<\/a><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-25\/dubai-flooding-was-up-to-40-more-intense-due-to-climate-change\" style=\"\" rel=\"noopener\">Bloomberg}<\/a> took note of the story. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-25\/g42-allies-with-us-over-china-in-global-ai-conflict\" style=\"\" rel=\"noopener\">Bloomberg<\/a> says<strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ab8a12c3-4caf-4243-940c-f007b4d33c7a\/\" style=\"\" rel=\"noopener\">Microsoft\u2019s investment in G42<\/a><\/strong> makes it a key player in the US-China tech race.<strong> <\/strong><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/g42\/\">G42<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/microsoft\/\">Microsoft<\/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\/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=\"91388\" 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=\"91388\">\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\/26\/another-step-closer-to-flying-taxis\/\">\r\n                            Another step closer to flying taxis                        <\/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\/26\/another-step-closer-to-flying-taxis\/\" 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\/26\/another-step-closer-to-flying-taxis\/')\">\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\/26\/another-step-closer-to-flying-taxis\/\">\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=Another step closer to flying taxis&url=https:\/\/enterpriseam.com\/uae\/2024\/04\/26\/another-step-closer-to-flying-taxis\/\">\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\/26\/another-step-closer-to-flying-taxis\/&title=Another step closer to flying taxis\">\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=Another+step+closer+to+flying+taxis+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F04%2F26%2Fanother-step-closer-to-flying-taxis%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\/26\/another-step-closer-to-flying-taxis\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1847.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91389\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/26\/another-step-closer-to-flying-taxis\/1847-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1847.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1847.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1847.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1847.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91388\" class=\"content-area-description single-story post-91388 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-enterpriseam-uae tag-healthcare tag-real-estate tag-samana-developers 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\/.c5950eb4-5134-48c3-86f5-5503db8b896e.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>First UAE vertiport gets green light: <\/strong>The General Civil Aviation Authority (GCAA) granted operational approval for the country\u2019s inaugural vertiport, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/13vt03b-gcaa-grants-operational-approval-for-uaes-first\" style=\"\" rel=\"noopener\">reports Wam<\/a>. The vertiport debuted on the sidelines of the <a target=\"_blank\" href=\"https:\/\/driftx.com\/\" style=\"\" rel=\"noopener\">DRIFTx<\/a> event in Abu Dhabi. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fast facts: <\/strong>The GCAA published the world\u2019s first national regulation related to vertiports \u2014 covering their design and operational requirements \u2014 back in <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/details\/1395303114515\" style=\"\" rel=\"noopener\">December 2022<\/a>. The authority has since announced a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/d357a6c6-320f-47cc-830a-353536e621c3#:~:text=Dubai%20will%20see,press%20release.\" style=\"\" rel=\"noopener\">plan<\/a> to launch air taxis by 1Q 2026. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Archer is moving forward with its air taxi plans:<\/strong> California-based electric flying car manufacturer <a target=\"_blank\" href=\"https:\/\/www.archer.com\/\" style=\"\" rel=\"noopener\">Archer Aviation<\/a> also signed a framework agreement with the Abu Dhabi Investment Office (ADIO) to construct vertiports in Abu Dhabi, according to an Abu Dhabi Media Office <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/economy\/archer-and-adio-to-accelerate-commercial-air-taxi-operations-across-uae\/\" style=\"\" rel=\"noopener\">statement<\/a>. The framework agreement also includes \u201coperational enablement\u201d for air taxis in the country, as well as locally manufacturing Archer\u2019s Midnight aircraft. Abu Dhabi-headquartered aviation services provider <a target=\"_blank\" href=\"https:\/\/falcongroup.ae\/\" style=\"\" rel=\"noopener\">Falcon Aviation<\/a> had earlier inked an agreement with Archer to develop a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/b2a4a77b-0207-4729-b482-df5e077c487f\/dubai-to-abu-dhabi-in-30-minutes\" style=\"\" rel=\"noopener\">vertiport network<\/a> in key locations across Dubai and Abu Dhabi by 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u2026as is Joby Aviation<\/strong>, which inked an MoU with Abu Dhabi\u2019s department of municipalities and transport to lay the groundwork for it to introduce inter-emirate electric air tax services as early as 2025, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b2u21sk-joby-partners-with-abu-dhabi-establish-electric\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The air taxi manufacturer <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/c9da5c2f-75c5-47ca-8ad5-4611bf95779e\/flying-taxis-are-coming\" style=\"\" rel=\"noopener\">already holds a license<\/a> to operate in Dubai for six years.<\/p>\n<p class=\"tag-border-left\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Samana launches new Dubai project: <\/strong>Dubai-based real estate firm <a target=\"_blank\" href=\"https:\/\/www.samanadevelopers.com\/barari-views\/search\/?utm_source=paid_search&amp;utm_medium=google_search&amp;utm_campaign=SD_Brand_ROW_google_search_GLB_En_Feb_2024&amp;campaign_id=CMP-01291-M9L9J&amp;ch_campaign_id=21082067947&amp;adgroup_id=163502356470&amp;extension_id=&amp;match_type=e&amp;gclid=&amp;keyword=samana%20developers&amp;ad_position=&amp;gad_source=1\" style=\"\" rel=\"noopener\">Samana<\/a><a target=\"_blank\" href=\"https:\/\/www.samanadevelopers.com\/barari-views\/search\/?utm_source=paid_search&amp;utm_medium=google_search&amp;utm_campaign=SD_Brand_ROW_google_search_GLB_En_Feb_2024&amp;campaign_id=CMP-01291-M9L9J&amp;ch_campaign_id=21082067947&amp;adgroup_id=163502356470&amp;extension_id=&amp;match_type=e&amp;gclid=&amp;keyword=samana%20developers&amp;ad_position=&amp;gad_source=1\" style=\"\" rel=\"noopener\">Developers<\/a> inaugurated its AED 272.2 mn development in Dubai Production City, the Samana Lake Views Project, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/samana-developers-launches-dh1bln-lake-views-complex-in-dubai-production-city-xow17a6x\" style=\"\" rel=\"noopener\">press release<\/a>. The development comprises two towers, offering some 1k apartments across 794k sqft. It is slated for handover in October 2027, with prices starting from USD 178k.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> Samana said in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/88606a2b-b5d4-4050-94ec-82e90005c5a6\/samana-to-invest-aed-12.5-bn-in-dubai-this-year\" style=\"\" rel=\"noopener\">March<\/a> it plans to build residential projects in the emirate at a cost of AED 12.5 bn over 2024. The company will award 18 construction contracts to construction firms to build the residential projects, most of which are waterfront developments. It expects to rake in some AED 8.8 bn in sales in 2024 after recording AED 3.3 bn in sales last year.<\/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>The central bank (CBUAE) has partnered with American IT company Accenture to<\/strong><strong> ramp up its Supervisory Technology (SupTech) initiative<\/strong> and Enterprise Data Management (EDM) program, focusing on licencing, supervising, and enforcing digital solutions over the next two years, it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1855.pdf\" style=\"\" rel=\"noopener\">statement<\/a>. SupTech seeks to automate and streamline supervisory activities for banks and licensed financial institutions, while EDM provides advanced analytics, automation, and AI-driven decision-making via a single portal.<\/p>\n<p class=\"tag-border-left\">HEALTHCARE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi backs disease prevention:<\/strong> Reaching the Last Mile, a global health portfolio backed by President Sheikh Mohamed bin Zayed Al Nahyan, has invested AED 55 mn in the Global Institute for Disease Elimination, which was established in 2019 by the president to accelerate the elimination of preventable infectious diseases, according to the <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/health\/reaching-the-last-mile-invests-aed55m-in-global-institute-for-disease-elimination\/\" style=\"\" rel=\"noopener\">Abu Dhabi Media Office<\/a>. This marks the portfolio\u2019s second investment in the institute. <\/p>\n<p class=\"tag-border-left\">EDUCATION- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1-<\/strong><strong>Sharjah gets a new university:<\/strong> Sharjah Ruler Sheikh Sultan bin Mohammed Al Qasimi issued a decree establishing a new nonprofit scientific university, the University of Dhaid, with registration and admission set to begin in the 2024-25 academic year, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b2u21gh-sharjah-ruler-establishes-dhaid-university\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The university will specialize in agriculture, environment, food, and livestock, with several facilities, centers, and projects set to be constructed. Sheikh Sultan \u2014 who will be the new university\u2019s president \u2014 also issued a decree forming the university\u2019s board of trustees, in addition to appointing Aisha Ahmad Abu Shlaibi as the University of Dhaid\u2019s chancellor.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2-<\/strong><strong>The King Sejong Institute \u2014 a foundation aiming to spread knowledge of the <\/strong><strong>Korean language \u2014 has inaugurated its MENA HQ in Sharjah<\/strong>, <a target=\"_blank\" href=\"https:\/\/gulfnews.com\/uae\/king-sejong-institute-opens-regional-centre-in-sharjah-kicks-off-pilot-courses-1.102323516\" style=\"\" rel=\"noopener\">Gulf News<\/a> reports. The South Korean government-run institute\u2019s initial courses will begin before July, and will be taught at Sharjah University.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/healthcare\/\">Healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/real-estate\/\">Real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/samana-developers\/\">Samana Developers<\/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=\"91390\" 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=\"91390\">\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\/26\/banks-post-strong-1q-2024-results\/\">\r\n                            Banks post strong 1Q 2024 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\/26\/banks-post-strong-1q-2024-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(); 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The bank\u2019s net income attributable to shareholders stood at EUR 1.275 bn for the quarter, surpassing analyst expectations and increasing 10% y-o-y. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shares in the bank were up 8%<\/strong> at market close. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Barclays is back in the black:<\/strong> Barclays reported earnings attributable to shareholders of GBP 1.55 bn for 1Q 2024, surpassing analyst expectations and rebounding from a net loss of GBP 111 mn in 4Q 2023, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/1862.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. The British lender bounced back after implementing its overhaul plans, which included further investment in UK consumer businesses and the acquisition of Tesco Bank, according to Barclays CEO, C.S. Venkatakrishnan. The bank\u2019s shares closed up 6.7%. <\/p>\n<p class=\"tag-border-left\">ALSO WORTH KNOWING-<\/p>\n<ul>\n<li><strong>The JPY hit a fresh 34-year low against the greenback<\/strong>, slipping past the 155 mark as the USD continues to strengthen \u2014 raising speculation that the Japanese government will intervene to stabilize FX markets. (<a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/03\/27\/japans-yen-hits-34-year-low-heating-talk-of-intervention.html\" style=\"\" rel=\"noopener\">CNBC<\/a>) <\/li>\n<li><strong>Quantitative hedge funds see high returns:<\/strong> Computer-driven hedge funds are reaping high returns from trends in financial markets, with hedges on rising cocoa prices and a weakening JPY seeing a 12% gain in 1Q 2024, as per a Soci\u00e9t\u00e9 G\u00e9n\u00e9rale index. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/e2275dd9-77d3-4d1a-a695-8e168c14693f\" style=\"\" rel=\"noopener\">Financial Times<\/a>)<\/li>\n<\/ul>\n<p class=\"tag-border-left\">THE MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are mostly in the green this morning<\/strong> ahead of a key Bank of Japan monetary policy meeting that follows a historic low for the JPY. Meanwhile, <strong>US futures point to a strong opening<\/strong> after a strong earning showing from Big Tech. <\/p>\n<p><a target=\"_blank\" id=\"t.fb03479beb6fd6cd12cbea7a6e68b010e6855781\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p>\n<div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,041<\/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: -5.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,169<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +2.7%)<\/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\">3,547<\/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: -7.7%)<\/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-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>EIBOR<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.0% 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\">12,254<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.8% (YTD: 2.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">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\">5,048<\/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: +5.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,078<\/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: +4.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,939<\/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: +9.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 89.28<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 1.56<\/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\">-4.8%<\/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>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,342.20<\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 64,433.95<\/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: 45.8%)<\/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 DFM rose 0.1% yesterday<\/strong> on turnover of AED 592.1 mn. The index is up 2.7% 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>National General Ins. Company (+10.1%), GFH Financial Group (+5.8%) and Commercial Bank of Dubai (+4.2%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Agility (-10.0%), Watania International Holding (-5.4%) and Deyaar Development (-4.8%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over on the ADX<\/strong>, the index stayed flat on turnover of AED 992.2 mn. Meanwhile Nasdaq Dubai fell 0.2%.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/barclays\/\">Barclays<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/deutsche-bank\/\">Deutsche Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"91392\" 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=\"91392\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/26\/uae-wraps-trade-agreement-talks-with-chile\/\">\r\n                            UAE wraps trade agreement talks with Chile                        <\/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\/26\/uae-wraps-trade-agreement-talks-with-chile\/\" 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 agreement will support growth in open and rules-based trade and investment, and open up access for UAE companies and exporters to Chile and the rest of Latin America.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fast facts:<\/strong> Non-oil trade between the UAE and Chile reached USD 305.1 mn in 2023, up 23.6% since 2019.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE <\/strong><strong>\u2764\ufe0f trade<\/strong><strong> with Latin America: <\/strong>Al Zeyoudi inked a similar agreement in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ba99b01d-8551-4a86-8d3a-e3e1f8653593\/uae-wraps-partnership-talks-with-costa-rica-%2B-plans-to-cooperate-with-kazakhstan-on-data-centers-and-ai-infrastructure\" style=\"\" rel=\"noopener\">January<\/a> with Costa Rica to streamline trade and customs procedures. The minister also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/7fe33ad7-2474-409b-b42e-6f605d19bdfa\/uae-and%253cmark%253e-colombia%253c%2Fmark%253e-ink-trade-and-economic-agreement.-plus:-new-eu-gcc-climate-platform-and-bin-zayed-phones-iranian-fm\" style=\"\" rel=\"noopener\">signed an agreement<\/a> with Colombia last week.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SPEAKING OF LATIN AMERICA- UAE President Sheikh Mohammed bin Zayed Al Nahyan<\/strong><strong> discussed further economic and trade cooperation with his Costa Rican counterpart<\/strong>, Rodrigo Chaves Robles, during a phone call yesterday, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b2u21se-uae-costa-rican-presidents-discuss-bilateral\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The two leaders discussed potential cooperation in renewables, sustainability, and environmental conservation, as well as greentech and agricultural innovation. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">OTHER DIPLOMACY NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Foreign Affairs Minister Abdullah bin Zayed Al Nahyan met with the UN\u2019s deputy secretary general, Amina Mohammed, to discuss cooperation<\/strong> on humanitarian and development issues, as well as ongoing tensions in the Middle East and the situation in Gaza, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b2u21vd-abdullah-bin-zayed-receives-deputy\" style=\"\" rel=\"noopener\">Wam<\/a> reported. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/comprehensive-economic-partnership-agreement\/\">Comprehensive Economic Partnership Agreement<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/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=\"91394\" 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=\"91394\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">MY MORNING ROUTINE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/26\/my-morning-routine-kareem-elsirafy-managing-partner-at-modus-capital\/\">\r\n                            My Morning Routine: Kareem Elsirafy, managing partner at Modus Capital                        <\/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\/26\/my-morning-routine-kareem-elsirafy-managing-partner-at-modus-capital\/\" 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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Speaking to us this week is Kareem Elsirafy (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/kareemelsirafy\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), managing partner and founder of Modus Capital. Edited excerpts from our conversation:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I\u2019m Kareem, an Egyptian American entrepreneur turned investor. <\/strong>I\u2019m the managing partner and founder of <a target=\"_blank\" href=\"https:\/\/modus.vc\/\" style=\"\" rel=\"noopener\">Modus Capital<\/a>, which is a venture platform. We invest in early stage tech companies the traditional way, but also through venture building. We essentially cobuild and cofound companies with smart and skilled entrepreneurs and subject matter experts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My last startup was a SaaS company in New York in the health and human services<\/strong><strong> industry.<\/strong> It started from an idea on a pitch deck raising USD 2. 2 mn in seed funding, to now being worth USD 2 bn. That journey is very exhausting. This was from 2011 to 2015, and by 2015, I got founder burnout, so I transitioned out and exited. I took a little bit of time off to see what I wanted to do, and started consulting companies in New York and in LA with a team of operators. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We were helping companies break through stagnated growth<\/strong>, preparing and supporting them on raising funds and their next round. Our investor network saw that we were this value creation team that was helping companies, and asked if they could invest in these companies, so we started this ad hoc investment and operationally supporting company model. We started bringing our network transactions every month, and they suggested we set up a fund. While we thought about doing that in 2017, two of the companies we were working with got acquired by quasi-governmental organizations here in the UAE. That made me look at the region. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I landed in Cairo \u2014 because I\u2019m Egyptian, of course \u2014 and I spent all of 2018 and 2019<\/strong><strong> learning about the ecosystem in the MENA region<\/strong>. What I identified was there's lots of economic opportunity, and opportunity to build valuable tech companies, and there's a lot of great talent, but not a lot of people who have gone from idea to exit. So if you're a first time entrepreneur, which most of the people in the Middle East are, where can you find skilled, experienced talent that's been there and done that? That\u2019s where we come in, and this is how the venture building model came up.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We started with a pilot in Egypt and then came to the UAE<\/strong> during covid and set up in Abu Dhabi and partnered with Hub71. Now, we're in Egypt, Saudi Arabia, and Abu Dhabi.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I have three main areas of focus:<\/strong> fundraising, strategic operations and planning, and portfolio management, which involves providing the entrepreneurs I work with strategic brainpower and decision making where support is needed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I think the focus now in the region is on building companies whose v<\/strong><strong>alue is substantiated<\/strong>. Companies were raising money with valuations based on how much they're raising, and I see that this is an issue from the VC industry, where companies were pumping up the markup on their portfolio, so they can raise a second fund and a third fund. That model doesn\u2019t work here. We\u2019re not in Europe or the US, where you have the most mature public markets where companies can IPO.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I <\/strong><strong>think that investors are going to look at proper metrics and KPIs and invest into a<\/strong><strong> business based on its business merits<\/strong>. I think it is also the best time for investors to find companies. Anybody who's made tons of money always made it by investing in a down cycle, and then riding the wave up \u2014 so people who are being super conservative with their funds right now, I think are making a mistake. Now is the time to put money in.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I don\u2019t think the [investment lull] is over. <\/strong>I think we are teetering between the tail end of it and the beginning of the upswing, but I think we'll have definitive clarity in the next 18 months.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I usually wake up around 4 or 4:30am.<\/strong> We have an international team and part of our executive team and my partners are in the US, so it allows me to catch them at the end of their day and I get to catch up with them. I wake up, read the Quran for a few minutes, and then do some reading. I don\u2019t look at my phone for the first hour I'm awake. After that, I'll go to the gym, where I usually will be talking on the phone with people in the US. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Once I\u2019m back from the gym, that's when I start looking at my computer.<\/strong> From 6-7am to 9-10am, this is where I get most of my work done. People in the US are sleeping, and people in Egypt and the UAE are still sleeping, so this is the time I own. After 10am, the company owns my time. That has me talking to my executive team, putting out fires, getting on calls. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It's important for everybody, especially people who are in leadership positions, to do a<\/strong><strong> cost benefit analysis<\/strong>, and weigh the cost of their time, money, energy, mental capacity, etc, against the benefit for this task. If you do a cost benefit analysis for every task that you have, the ones that have a very big cost and very low benefit clearly go to the bottom of the list. The ones that have very low cost and very high benefits are the ones you probably want to do first because you can bang them out and get them done.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One thing that never changes is that being at the top of an organization is very lonely.<\/strong> You're the good guy when it's convenient \u2014 which is seldom \u2014 and you're always the bad guy [laughs], because the ball stops with you. There's a lot of crisis management, and every day there\u2019s a punch in the face. But every day, I have to punch back. Some days, it's easy. Some days it\u2019s extremely challenging, because as the company grows, the problems just get bigger and everything is on a bigger scale.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>During the week, I always make sure to spend at least the last two hours in the evening<\/strong><strong> \u2014 or at least 30-45 minutes in the morning \u2014 with my family.<\/strong> But it can be in extremes \u2014 Modus is technically a startup, and I\u2019m an entrepreneur, so this isn't a corporate job where I can go play golf three days a week. So sometimes I go super hard all week, and totally disconnect on the weekend, or go super hard two or three months and then take two or three weeks where I switch off. Work life balance depends on the status of the business, so the more the business grows and matures and gets more stability, the more I can control that balance.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>When I do switch off after my workday, I usually just hang out with my wife and my<\/strong><strong> daughter in front of the TV.<\/strong> Most of the time, it\u2019s either <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/@msrachel\" style=\"\" rel=\"noopener\">Ms. Rachel<\/a> or <a target=\"_blank\" href=\"https:\/\/blippi.com\/\" style=\"\" rel=\"noopener\">Blippi<\/a> playing on TV.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I really enjoy <\/strong><strong><a target=\"_blank\" href=\"https:\/\/conversationswithloulou.com\/all-podcast\/\" style=\"\" rel=\"noopener\">Conversations with Loulou<\/a><\/strong><strong>.<\/strong> I was on one and I got hooked after. Those are great to hear the perspectives and stories of other people in the ecosystem. I\u2019m also a big World War II documentary nerd, and I read a lot of <a target=\"_blank\" href=\"https:\/\/a16z.com\/news-content\/#latest\" style=\"\" rel=\"noopener\">Andreessen Horowitz (aka a16z\u2019s) blog<\/a> and Jack Abraham, the founder of Atomic, which is a venture builder. My two hobbies are snowboarding and racing motorcycles. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The best piece of advice I've been given is don't trade what you want right now for what<\/strong><strong> you ultimately want in the future<\/strong>. It was given to me by my high school football coach. He always told me not to chase the short term, and to always be forward thinking. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/modus-capital\/\">Modus Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/venture-capital\/\">VENTURE CAPITAL<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"91396\" 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\/26\/91396-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91396\" class=\"content-area-description single-story post-91396 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;\">23-29 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, Dubai World Trade Centre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">24 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>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 style=\"font-weight:400;\">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>20-22 May (Monday-Wednesday): Middle East Petroleum & Gas Conference, Dubai.<\/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\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>Foreign trade hits AED 4.45 bn in 2023 | Bayanat-Yahsat merger gets shareholder nod | UAE vertiport gets regulatory green light<\/p>\n","protected":false},"featured_media":91369,"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-91368","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"d8fd672b-1cc7-4f8f-ae87-974be84ca194","teaser":"Foreign trade hits AED 4.45 bn in 2023 | Bayanat-Yahsat merger gets shareholder nod | UAE vertiport gets regulatory green light","photo_url":"https:\/\/ent.news\/2024\/1\/883.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast 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