{"id":91722,"date":"2024-05-07T00:00:00","date_gmt":"2024-05-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=91722"},"modified":"2025-12-15T00:15:38","modified_gmt":"2025-12-15T00:15:38","slug":"adnoc-drops-braskem-stake-acquisition-bid","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/adnoc-drops-braskem-stake-acquisition-bid\/","title":{"rendered":"Adnoc drops Braskem stake acquisition bid"},"content":{"rendered":"<section id=\"91724\" 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=\"91724\">\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\/05\/07\/plenty-of-news-from-day-one-of-the-arabian-travel-market\/\">\r\n                            THIS MORNING: Plenty of news from day one of the Arabian Travel Market + DIFC sees 2024 being its \u201cbusiest year\u201d yet                        <\/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\/05\/07\/plenty-of-news-from-day-one-of-the-arabian-travel-market\/\" 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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Also worth your attention: IHC has announced an AED 5 bn share buyback program on the heels of a strong 1Q 2024 earnings report. <\/p>\n<p class=\"tag-border-left\"> PUBLIC SERVICE ANNOUNCEMENTS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- WEATHER- The hot weather continues today<\/strong>, with <strong>Dubai<\/strong> seeing the mercury rise to 37\u00b0C, before cooling to an overnight low of 30\u00b0C, while <strong>Abu Dhabi<\/strong> will see temperatures hit 38\u00b0C. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Abu Dhabi now has a dedicated committee in place to handle housing grant <\/strong><strong>transfer requests predating 2 October, 2018,<\/strong> courtesy of the Abu Dhabi Housing Authority, according to the <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/infrastructure\/abu-dhabi-housing-authority-forms-committee-to-process-requests-disposing-of-housing-grants\/\" style=\"\" rel=\"noopener\">Abu Dhabi Media Office<\/a>. Citizens can present their housing transition cases to the newly formed committee at the Iskan Abu Dhabi Center until 31 July. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Certain conditions apply<\/strong>, including ownership of residential land or suitable housing, registration in the Real Estate Register as a housing grant recipient, absence of concurrent claims for other residential or housing grants or loans, and obtaining written consent from one\u2019s wife. Decisions made by the committee are considered final.<\/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- Call ADPHC for pest control services: <\/strong>Public health pest control services have been transferred over to the Abu Dhabi Public Health Centre (ADPHC) from the Abu Dhabi Waste Management Company \u2014 more commonly known as Tadweer Group \u2014 according to the <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/health\/abu-dhabi-public-health-centre-expands-services-to-include-public-health-pest-control\/\" style=\"\" rel=\"noopener\">Abu Dhabi Media Office<\/a>. ADPHC will now handle reports of pest proliferation in open areas and homes, manage permitting processes, and regulate the distribution of pesticides. Requests can be made via the Government Contact Centre at 800555 or the Tamm platform.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a><strong> #4- <\/strong><strong>The Dubai International Financial Center (DIFC) has launched consultations on <\/strong><strong>amendments that would provide statutory certainty to DIFC law <\/strong>extending beyond the English Common Law \u2014 which governs the jurisdiction \u2014 as it looks to provide a reference for interpretations that are not accounted for by the body of law, it said in a <a target=\"_blank\" href=\"https:\/\/www.difc.ae\/whats-on\/news\/difc-announces-consultation-for-amendments-to-difc-law-on-application-of-civil-and-commercial-laws\" style=\"\" rel=\"noopener\">statement<\/a>. Any gaps not provided by DIFC statute will then be backstopped by English common law, the statement added. You can send in your responses to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/300.pdf\" style=\"\" rel=\"noopener\">consultation (pdf)<\/a> before 1 June 2024. <\/p>\n<p class=\"tag-border-left\"> FROM THE ARABIAN TRAVEL MARKET- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Arabian Travel Market kicked off yesterday with a slew of fresh data from officials, updates on tourism initiatives in the region, and agreements. <\/strong>The highlights from day one:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt2\"><\/a> <strong>#1- Dubai hosted some 5.2 mn tourists in 1Q 2024<\/strong>, up 11% y-o-y, Dubai Crown Prince Hamdan bin Mohammed <a target=\"_blank\" href=\"https:\/\/twitter.com\/HamdanMohammed\/status\/1787422024710705491\" style=\"\" rel=\"noopener\">said on X<\/a>. Occupancy rates for the period stood at 83%, \u201cranking among the highest globally.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Abu Dhabi\u2019s Yas Island welcomed over 35 mn visitors in 2023<\/strong>, marking a 38% y-o-y increase, Abu Dhabi-based destination management company Miral said in a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/miral-announces-highest-ever-visitation-numbers-for-yas-island-and-saadiyat-island-in-2023-m8g872va\" style=\"\" rel=\"noopener\">press<\/a><a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/miral-announces-highest-ever-visitation-numbers-for-yas-island-and-saadiyat-island-in-2023-m8g872va\" style=\"\" rel=\"noopener\">release<\/a>. Saadiyat Island also saw a 44% y-o-y increase in visits during the year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt3\"><\/a><strong> #3- The unified GCC visa could be in place by the end of the year<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.khaleejtimes.com\/world\/gulf\/unified-gcc-tourist-visa-system-will-be-in-place-by-end-of-2024-uae-official-says\" style=\"\" rel=\"noopener\">Khaleej Times<\/a> quoted Chairman of the Sharjah Commerce and Tourism Authority (SCTDA) Khalid Jasim Al Midfa as saying at the event. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4-<\/strong><strong> Flydubai is set to complete its USD multi-mn retrofit project before year-end<\/strong>, aiming to upgrade the interior of its next-generation Boeing fleet, flydubai CEO Ghaith Al Ghaith said, according to <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b30lsvc-flydubai-rolls-out-comprehensive-fleet-retrofit\" style=\"\" rel=\"noopener\">Wam<\/a>. The ongoing project \u2014 launched in January \u2014 will see an upgrade in interiors and overall experience. Flydubai has carried over 5 mn passengers between January and April, marking a 13% y-o-y jump.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- Saudi low-cost airline Flynas is adding Abu Dhabi, Sharjah, and the soon-to-be <\/strong><strong>expanded Al Maktoum International Airport to its network<\/strong> as of September, from its bases in Riyadh, Dammam, Jeddah, and Al Madinah, <a target=\"_blank\" href=\"https:\/\/www.khaleejtimes.com\/world\/gulf\/uae-saudi-carrier-flynas-to-add-abu-dhabi-sharjah-and-al-maktoum-airport\" style=\"\" rel=\"noopener\">Khaleej Times<\/a> reports. The expansion will take the number of routes between the countries to nine, up from four currently. <\/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\"><strong>#1- Presight eyes more acquisitions:<\/strong> ADX-listed data analytics firm Presight AI Holding is considering partnering with an Abu Dhabi fund for acquisitions that will expand its international footprint, Presight CEO Thomas Pramotedham tells <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/abu-dhabis-presight-look-out-further-acquisitions-2024-05-06\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. \u201cWith the rising trend in AI, there are many companies available, but the key thing is how much it will add to Presight's existing growth strategy,\u201d Pramotedham said, without disclosing when these transactions would materialize.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>The company snagged a 51% majority stake in <a target=\"_blank\" href=\"https:\/\/aiqintelligence.ae\/\" style=\"\" rel=\"noopener\">AIQ<\/a>, Adnoc\u2019s AI joint venture with G42, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/4791a495-5208-4f04-98d3-9af270ad9fa7\/%253cmark%253epresight%253c%2Fmark%253e-gets-aiq-majority-stake\" style=\"\" rel=\"noopener\">last week<\/a>. Presight acquired the entirety of G42\u2019s 40% stake in AIQ, in addition to 11% of Adnoc\u2019s 60% stake in the JV.<\/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=\"wwtt4\"><\/a> <strong>#2- 2024 is set to be Dubai International Financial Center\u2019s (DIFC) \u201cbusiest year <\/strong><strong>ever,\u201d<\/strong> Dubai Financial Services Authority (DFSA) CEO Ian Johnston tells <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-06\/dubai-s-financial-center-difc-expects-busiest-year-as-firms-rush-in\" style=\"\" rel=\"noopener\">Bloomberg,<\/a> expecting that the financial center will see a \u201crecord number of firms\u201d registering in 2024. With the financial hub \u201calready about 50% ahead\u201d of its record registrations last year, which saw the DFSA issue <a target=\"_blank\" href=\"https:\/\/www.dfsa.ae\/news\/dfsa-continues-remarkable-growth-issuing-record-number-licences-its-inception'\" style=\"\" rel=\"noopener\">over 112 financial services licenses<\/a>, the DIFC is on track to meet its target. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another Chinese lender will soon set up shop in DIFC<\/strong>, Johnston also said, without disclosing the name of the Chinese bank, marking the fifth to establish a presence in the business center. \u201cOf the 29 globally systemically important banks in the world, we have 27 doing business in DIFC,\u201d Johnston said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER<\/strong>- DFSA saw a 125% y-o-y uptick in registrations by hedge fund managers in 2023 and expects continued strong interest from global hedge funds looking to set up shop in DIFC, Johnston said in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/fc6e7887-5dbe-4625-a4cd-4314e8f5103a\/abu-dhabi-investment-authority-eyes-minority-stake-in-china%25e2%2580%2599s-zhuhai-wanda-%2B-lots-of-m&amp;a-news-this-morning#:~:text=%232%2D%20DIFC%20%E2%9D%A4%EF%B8%8F%20hedgies,standards%2C%E2%80%9D%20Johnston%20noted.\" style=\"\" rel=\"noopener\">February<\/a>. DIFC\u2019s company registrations <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/eb25943c-f5db-4d19-b6df-30e3f3a02d63\/earnings-watch:-ad-ports,-americana-group,%253cmark%253e-difc%253c%2Fmark%253e,-union-properties-and-more#:~:text=DIFC%E2%80%99s%20company%20registrations,year%20in%20total.\" style=\"\" rel=\"noopener\">jumped 34% y-o-y<\/a>, with 1.4k companies registering to set up shop in the freezone. The record growth in registrations was \u201csupported by both financial and innovation companies and non-financial companies.\u201d<\/p>\n<p class=\"tag-border-left\"> HAPPENING TODAY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/dubaifintechsummit.com\/\" style=\"\" rel=\"noopener\">Dubai Fintech Summit 2024<\/a><\/strong><strong> is on its second and final day<\/strong> at Madinat Jumeirah. The summit will host over 300 thought leaders on five stages and present tech from 200+ exhibitors.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Sharjah + Dubai trade missions in Asia:<\/strong> A trade delegation from the Sharjah Chamber of Commerce and Industry led by Chairman Abdullah Sultan Al Owais landed in India earlier this week and will be there until Friday, 10 May, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b2xmncj-sharjah-chamber-dispatch-trade-mission-india-5th\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The mission will be looking to strengthen economic ties and explore potential investments. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A Dubai International Chamber trade mission is also making the rounds in Indonesia and Vietnam<\/strong> to help local companies grow in these markets, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b2y82gf-dubai-international-chamber-gears-lead-trade\" style=\"\" rel=\"noopener\">Wam<\/a> reports. <\/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- The Arab Tourism Media Awards also kicked off yesterday and runs through to Thursday, 9 May,<\/strong> at the Dubai International Convention and Exhibition Centre, state news agency <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/it\/article\/b2x17qq-dubai-set-host-arab-tourism-media-awards-2024\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The Arab Union of Tourist Media will present awards to 34 Arab personalities, tourism institutions, and cities that have contributed to the tourism industry in the Arab region. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- 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> begins today and will run until <\/strong><strong>Thursday, 9 <\/strong><strong>May at the Abu Dhabi National Exhibition Center. <\/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>#5- The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/dubai.ifinexpo.com\/\" style=\"\" rel=\"noopener\">Innovative Finance Expo<\/a><\/strong><strong> is set to be held tomorrow and Thursday at the <\/strong><strong>Jumeirah Emirates Towers<\/strong> in Dubai. The event will bring together fintech and blockchain companies and experts to serve as a knowledge exchange platform, showcasing the latest developments in the financial sector, including DeFi crypto, foreign exchanges, payment, and finance technologies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- For our fellow iSheep: Apple is expected to unveil new iPads this afternoon <\/strong>at 6pm UAE time (7am Pacific). The expectation: a revamp of the line that restores some coherence to the offering (and for the Pro to get a FaceTime camera on the long edge). You can stream the announcement from <a target=\"_blank\" href=\"https:\/\/www.apple.com\/apple-events\/\" style=\"\" rel=\"noopener\">Apple\u2019s website<\/a> or its <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/@Apple\/videos\" style=\"\" rel=\"noopener\">Youtube channel<\/a>. <\/p>\n<p class=\"tag-border-left\"> THE BIG STORY ABROAD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hamas has accepted a ceasefire proposal \u2014 Israel says it\u2019s not enough and is <\/strong><strong>hammering Rafah. <\/strong>Here\u2019s what you need to know this morning:<\/p>\n<ul>\n<li><strong>Hamas <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/wrapup1-israel-begins-evacuating-part-rafah-ahead-threatened-assault-2024-05-06\/\" style=\"\" rel=\"noopener\">accepted<\/a><\/strong> a proposal from Egyptian and Qatari mediators;<\/li>\n<li><strong>Israel says <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-06\/hamas-says-accepts-proposal-for-cease-fire-with-israel?srnd=homepage-middle-east&amp;sref=mmeFTDW1\" style=\"\" rel=\"noopener\">it doesn\u2019t go far enough<\/a><\/strong> and plans to <a target=\"_blank\" href=\"https:\/\/www.axios.com\/2024\/05\/06\/israel-gaza-rafah-invasion-hamas-hostage-deal\" style=\"\" rel=\"noopener\">take over<\/a> the Rafah border crossing;<\/li>\n<li><strong>Israeli forces are <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2024\/05\/06\/world\/israel-gaza-war-hamas\/the-israeli-military-tells-civilians-in-eastern-rafah-to-move-to-a-humanitarian-zone?smid=url-share\" style=\"\" rel=\"noopener\">attacking<\/a><\/strong><strong> Rafah<\/strong> by air and on the ground. More than 1 mn people have sought refuge in city on Egypt\u2019s border, and the Israeli army is now telling at least <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/middle-east\/israel-warns-gazans-to-evacuate-rafah-neighborhoods-ahead-of-planned-offensive-8a8b156c?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">100k of them<\/a> in east Rafah to move into a so-called \u201chumanitarian zone;<\/li>\n<li><strong>Shuttle <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/14ff1d0c-23ec-419f-927b-1cfd0601071b\" style=\"\" rel=\"noopener\">diplomacy<\/a><\/strong><strong> continues today in Cairo<\/strong> after both sides said they\u2019d continue indirect talks.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan spoke to his Qatari and <\/strong><strong>Egyptian counterparts yesterday<\/strong> to discuss the agreement, commending the two countries\u2019 efforts, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/13wipxt-abdullah-bin-zayed-discusses-with-qatari-prime\" style=\"\" rel=\"noopener\">Wam reports<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s more foreign policy ugliness in the headlines: <\/strong>Russia has rattled Western capitals with an announcement that it\u2019s <a target=\"_blank\" href=\"https:\/\/www.politico.eu\/article\/russia-preparing-non-strategic-nuclear-weapons-drills\/\" style=\"\" rel=\"noopener\">running drills on the use of tactical nuclear weapons<\/a>. Pundits say the Kremlin is putting on pressure in response to French and British statements on Ukraine. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong>Tactical nukes are smaller, less-powerful weapons designed for use on the battlefield. Strategic nuclear weapons are the things designed to take-out cities. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN THE BUSINESS PAGES- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/lookout-santa-cruz-wins-pulitzer-prize-breaking-news-2024-05-06\/\" style=\"\" rel=\"noopener\">Reuters<\/a><\/strong><strong> won a Pulitzer Prize for its long-term investigation <\/strong><strong>into Elon Musk<\/strong>\u2019s business empire, including Tesla and SpaceX. The newswire also won for its <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/pictures\/reuters-wins-pulitzer-prize-breaking-news-photography-coverage-israel-hamas-war-2024-05-06\/\" style=\"\" rel=\"noopener\">photography of the war<\/a> between Hamas and Israel. <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/investigates\/section\/musk-inc\/\" style=\"\" rel=\"noopener\">You can read the full series here<\/a>, read the <a target=\"_blank\" href=\"https:\/\/www.pulitzer.org\/news\/2024-pulitzer-prize-announcement-0\" style=\"\" rel=\"noopener\">Pulitzer announcement<\/a>, or check out <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/379.pdf\" style=\"\" rel=\"noopener\">the long list (pdf)<\/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\">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><\/strong>&nbsp;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 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 Abu Dhabi Global Healthcare Week is set to take place between 13-15 May<\/strong> at the Abu Dhabi National Exhibition Centre. Hosted by Abu Dhabi\u2019s Department of Health, the event will bring together around 5k attendees, 100 exhibitors, and 1k delegates specialized in healthcare. Featured topics include AI, biotech, and genomics. You can find the event brochure <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/289.pdf\" style=\"\" rel=\"noopener\">here (pdf)<\/a>. <\/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.dwtc.com\/en\/events\/acres-real-estate-exhibition-2024\/\" style=\"\" rel=\"noopener\">Acres Real Estate Exhibition<\/a><\/strong><strong> is set to take place between 16-19 May <\/strong><strong>at the<\/strong><strong> Dubai World Trade Center<\/strong>. The event will gather leading property developers, investors, brokers, and experts, to showcase the latest projects and technologies in the real estate industry.<\/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>The Dubai Business Forum in Beijing, China is set to take place between 21-22 <\/strong><strong>August<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b30lsve-dubai-chambers-organise-dubai-business-forum-china\" style=\"\" rel=\"noopener\">Wam<\/a> reports. Hosted by Dubai Chambers, the event aims to attract foreign direct investments by presenting investment prospects. <\/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\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi\/\">Abu Dhabi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/tourism\/\">tourism<\/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=\"91726\" 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=\"91726\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/07\/adnoc-drops-braskem-bid-dp-world-completes-savan-logistics-acquisition\/\">\r\n                            Adnoc drops Braskem bid + DP World completes Savan Logistics acquisition                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/07\/adnoc-drops-braskem-bid-dp-world-completes-savan-logistics-acquisition\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Citigroup analysts say that \u201cit\u2019s too early\u201d to ascertain Adnoc\u2019s reasoning, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-06\/adnoc-abandons-negotiations-for-stake-in-brazil-petrochemicals-producer-braskem\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>Adnoc had submitted a USD 2.1 bn non-binding offer in November to acquire Brazilian conglomerate Novoner\u2019s 38.3% stake in Braskem. Its bid represented a premium of more than 100% over Braskem\u2019s closing share price at the time the bid was made, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/adnoc-makes-fresh-bid-buy-stake-brazils-braskem-2023-11-09\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported at the time. Braskem had also reportedly received a joint USD 7.6 bn offer earlier from Adnoc and Apollo for a stake. <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f25573aa-1f1b-4979-8add-0b0d4c9d20d6\/parkin-debuts-on-the-dfm-today\" style=\"\" rel=\"noopener\">In March<\/a>, an unnamed new bidder also entered the race for the shares.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Braskem still has options:<\/strong> Brazilian state-owned oil producer and owner of a 36.1% stake in Braskem has preferential rights to buy the stake, which it is \u201cready\u201d to exercise after completing due diligence if it has to, CEO Jean Paul Prates told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-06\/petrobras-waits-on-offers-from-braskem-s-other-suitors-ceo-says\" style=\"\" rel=\"noopener\">Bloomberg<\/a> separately. \u201cOther companies\u201d are also conducting due diligence, Prates said, without disclosing any names.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reax:<\/strong>The Brazilian company\u2019s stock closed down 14.5%, after falling as much as 16% in intraday trading on the news, according to Bloomberg. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The acquisition was one of several Adnoc is looking at as part of a push into the <\/strong><strong>chemicals sector and away from oil<\/strong>, including a multi-bn USD acquisition of German chemicals group Covestro, which has also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/40defb25-3f93-4dbc-8a68-349b11bca13e\/some-disruptions-continue-at-dxb-following-tuesday%25e2%2580%2599s-storm\" style=\"\" rel=\"noopener\">stalled<\/a> and could see the company submit a bid higher than EUR 11.3 bn (AED 44.9 bn). Adnoc is also working on merging its two plastic units, Borealis and Borouge, but the transaction is also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/72ee5c31-9697-415d-a2fa-9d74ede3b7fb\/updates-on-potential-acquisitions-from-adq-and%253cmark%253e-borouge%253c%2Fmark%253e-%2B-barcelona-fc-could-get-funds-from-dubai-investors\" style=\"\" rel=\"noopener\">facing delays<\/a> due to changes in management, elections in Austria, and sticking points over technicalities of the merger. <\/p>\n<p class=\"tag-border-left\">OTHER M&amp;A NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.dpworld.com\/en\" style=\"\" rel=\"noopener\">DP World<\/a><\/strong><strong> has finalized its acquisition of Laos-based Savan Logistics,<\/strong> which operates the Savannakhet dry port in Laos' Savannakhet Special Economic Zone, according to a <a target=\"_blank\" href=\"https:\/\/www.dpworld.com\/australia\/news\/releases\/dp-world-acquires-savan-logistics--operator-of-dry-port-in-savannakhet\/?utm_medium=gl-linkedin&amp;utm_source=organic&amp;utm_campaign=savan-logistics\" style=\"\" rel=\"noopener\">statement<\/a>. No details were provided on the value of the transaction. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The move sees DP World assuming management of the dry port<\/strong>, a logistics hub linking supply chains along a multinational corridor connecting Laos with Cambodia, Myanmar, Thailand, and Vietnam. Aside from managing the dry port and its warehouses, DP World will also coordinate cross-border transport, freight forwarding, and integrated logistics solutions at the site, the statement said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adnoc\/\">Adnoc<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dp-world\/\">DP World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"91728\" 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=\"91728\">\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\">COFFEE WITH\u2026<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/07\/coffee-with-karim-el-solh-ceo-of-gulf-capital\/\">\r\n                            Coffee with: Karim El Solh, CEO of Gulf 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\/05\/07\/coffee-with-karim-el-solh-ceo-of-gulf-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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Plenty of sectors are ripe for growth and investment, from AI to healthcare and renewables, and private equity firms here in the UAE and the wider region are capitalizing on the momentum.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Whether it\u2019s the IPO boom&nbsp;<\/strong><strong>that has sustained itself despite global headwinds<\/strong>, new forms of capital \u2014 like private capital \u2014 gaining a foothold in the region, or the focus on growth capital as opposed to leverage buyouts, the region is fast becoming a hotspot for investors looking to make substantial returns. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>When it comes to exciting industries in the region, Gulf Capital is all in on five: <\/strong>Fintech, healthcare, business services, consumer, and sustainability \u2014 which it defines as water and food security, renewables, and the energy transition. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>As the firm prepares to reach first close on its fourth fund<\/strong>, which El Solh hopes will help it cross the USD 3 bn mark in assets under management, <strong>we sat down with El Solh for coffee in Dubai<\/strong> to discuss what the firm has in store over the coming year, which markets he\u2019s bullish on, and why dealmaking in the Gulf is booming.<\/p>\n<p class=\"tag-border-left\">KEY TAKEAWAYS: <\/p>\n<ul>\n<li><strong>Gulf Capital plans to achieve first close on its fourth fund in 2H 2024<\/strong>, with an eye to raise more than USD 800 mn;<\/li>\n<li><strong>Asia and the Middle East are bright spots<\/strong> for investors for the next few decades;<\/li>\n<li><strong>The momentum in the regional stock market scene is fueling more exits<\/strong> in the region;<\/li>\n<li>The firm will be doing <strong>most of its fundraising from LPs in Asia and the Gulf. <\/strong><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Enterprise: <\/strong>How has the Gulf managed to sustain its dealmaking momentum despite a global liquidity crunch and economic headwinds? <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Karim El Solh: It\u2019s a story of sharp contrast. <\/strong>When the US and Europe are slowing down, we\u2019re having our best year ever here. The region is growing very fast, and Europe is entering recession. Diversification of the economy and the expansion of non-oil sectors is working very nicely. Countries in the region are launching a number of new industries that are really paying off, from tourism, to healthcare, to banking, to technology. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Even though there\u2019s a lot of clouds on the horizon globally, the only bright spot today is in the Gulf region<\/strong>. Another one is India. Those two markets are very promising both from a growth and exit perspective. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We're working on four exits this year \u2014 probably the most we\u2019ve ever done in a year. <\/strong>This is at a time when exits in Europe are slowing down, and it\u2019s very difficult to sell companies. We started the year in January with the strategic <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/921663fd-eb36-45eb-9f4d-c1ad80707a4b\/gulf-capital-offloads-stake-in%253cmark%253e-amcan%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">sale of Amcan<\/a>, a leading sports and nutritional supplements distribution company, and we have three exits in the pipeline. That\u2019s refreshing for global LPs. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The average growth in profitability for all of our portfolio companies in 4Q 2023 was 46% on the previous year.<\/strong> For the full year, we grew 33% on the previous year. That kind of growth excites global investors because they\u2019re not seeing it anywhere else.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Part of it is the growth of the economy, but the other part is us working with our operating partners to grow our companies. <\/strong>We don\u2019t rely on leverage. The way we make our money is by doubling and tripling profitability. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On all of our exits, we increase profit by 224%. <\/strong>That\u2019s how we generate our returns. When people ask if we\u2019re impacted by the high interest rates, I say not really, because I never put leverage on companies. This is in sharp contrast to your typical US leverage buyout and European leveraged buyouts; they put a ton of leverage, and when Libor \u2014 the London interbank offered rate \u2014 was close to zero, it was very easy to make money on cheap financing. But now Libor is over 5%, and the cost of borrowing is over 11%. It becomes very onerous, and their companies are very stressed because of it.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: How do you make sure your companies are making returns? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>KS: We\u2019re a control buyout fund.<\/strong> 80% of our acquisitions have been control buyouts, and I think looking ahead, it will be 100%. We insist on control because we bring a deep bench of operating partners. We clean, fix, and grow our companies \u2014 we\u2019re an active owner. We cannot transform a company with a small minority stake. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: Looking ahead, what\u2019s your preferred exit strategy? Are you looking at IPOs or strategic sales? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>KS: Historically, we were very focused on selling to strategic buyers because we have controlling stakes and market leaders. <\/strong>The sectors we focus on are growing fast. They attract a lot of global investors and strategic buyers. With <a target=\"_blank\" href=\"https:\/\/www.gulfcapital.com\/2022\/11\/02\/gulf-capital-sells-100-of-chef-middle-east-to-nasdaq-listed-the-chefs-warehouse-nasdaq-chef-for-c-us-100-million-in-an-exit-that-generates-2-5x-returns\/#:~:text=Gulf%20Capital%2C%20one%20of%20the,)%2C%20a%20Nasdaq%2Dlisted%20speciality\" style=\"\" rel=\"noopener\">Chef Middle East<\/a>, we held an auction and got a bid from Thailand and Germany, but it was eventually sold to a US company \u2014 the Chef\u2019s Warehouse, which is listed on Nasdaq. We got a 2.5x return on that investment. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But now I\u2019m seeing a lot of global investors coming here<\/strong>, and they're approaching us. We\u2019re speaking to three or four of them, so that\u2019s a new exit avenue which we didn\u2019t have before. They\u2019re investing out of big funds, USD 20 bn funds. They need a minimum equity check of USD 300 mn. For me, that\u2019s great, because we write checks of USD 50-100 mn. We double, triple the size of these companies, and we can sell to them.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The other thing that is new is how vibrant and exciting the regional stock markets have become. <\/strong>Historically, we had to go to London to do IPOs of companies like Gulf Marine Services, because the markets here were not open. Now, it's much more exciting to do IPOs here than internationally. I think the IPO route for the next two years could be an exciting one. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: Global investors coming here is an interesting opportunity for you. But is there concern over competition? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>KS: <\/strong>We are in the midmarket space, while most of the ones coming here are in the big check space, so we are not overlapping. They will never spend time like we do on a USD 40-60 mn transaction when they are a USD 20 bn fund. It doesn\u2019t move the needle for them. They need bigger tickets. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: What do you have in line this year in terms of investments and funds?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>KS: We became more and more sector-focused after 2016. <\/strong>After 2015, there was an oil crash. Oil prices dropped by 70%. It was then \u2014 as we launched our third fund \u2014 that we shifted from being a generalist and investing a lot in oil and gas to looking into the future.We mapped out 45 sectors and we picked the five fastest growing sectors. We\u2019re now building a pipeline from these sectors for our fourth fund. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We hope to achieve the first close on our fourth fund in the second half of the year. <\/strong>Fund III is 90% deployed, so we have 10% left. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: Do you have a certain goal for the size of the fourth fund? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>KS: <\/strong>We\u2019ve been growing steadily. Our first fund was USD 160 mn, the second was USD 533 mn, and the third fund was USD 750 mn. Hopefully, our fourth fund cover is USD 800 mn or more. We\u2019ll typically invest in 12 companies per fund, and the average ticket is USD 50-100 mn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: What does your LP mix look like right now?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>KS: Historically, we\u2019re backed by a number of sovereign wealth funds, pension funds, funds of funds and family offices<\/strong>, around half from the Gulf and the other half from outside the region \u2014 a lot from Asia, and some from Europe. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I think for this upcoming fund, the most fertile grounds for fundraising would be the Gulf and Asia. <\/strong>The economies are doing well; they\u2019re liquid, they like the Gulf, and they\u2019re keen to put money here. I see much less appetite from Europe because Europe is going through a lot of issues, from economic recession to lack of liquidity. With that context in mind, I see European investors pulling back, maybe going back to looking at their countries, while the Asian sovereigns are coming here en masse. We\u2019re much more excited to look east rather than west when it comes not only to investments, but fundraising as well.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: And speaking of Asia, you were recently on a roadshow there. <\/strong>What\u2019s exciting to you about Asia right now and which countries and sectors specifically are you looking at? <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>KS: I think the pleasant surprise I found was Japan. <\/strong>It was very nice to see the strong revival Japan\u2019s going through. Local players are very excited to invest in Japanese private equity and there\u2019s more activity and more take-private. You feel they\u2019re going through a generation shift, after being a sleepy destination. That was a bright spot. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>India is very exciting as well. <\/strong>China is facing some issues, but I think they\u2019re stabilizing and you can already see a rebound in the Hong Kong stock market. I think 2024 could be the year where they turn the page and resume the growth they had before. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asia is a very exciting consumer market<\/strong>, with a big population that\u2019s growing fast. Our head of Singapore has a consumer background, used to work at firms like LVMH, Zegna and Nike, and has a unique network of potential investments in that sector, so that\u2019s an interesting play. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re also looking at bringing our healthcare companies to Asia.<\/strong> We own the largest fertility platform here \u2014 <a target=\"_blank\" href=\"https:\/\/www.artfertilityclinics.com\/en\" style=\"\" rel=\"noopener\">ART Fertility<\/a>. We\u2019ve expanded to India, and opened 10 centers, and we will soon open 15 new centers. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I think the corridor we\u2019re investing in from the near to Far East today is the fastest growing corridor in the world. <\/strong>It\u2019s an exciting region, and if you look 30 years from now, the European economy will increase 1.5x, the US 1.8x, the Gulf will triple in size, Southeast Asia will quadruple, and India will quintuple.<strong> If you want growth, you have to be in this corridor where we\u2019re playing. It\u2019s not in Europe, it\u2019s on the near to far east \u2014 the new Silk Road. <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: Since healthcare is one of your focal sectors, can you tell us more about the growing consolidation trend in the industry here in the UAE? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>KS: There\u2019s a lot of action on hospitals now<\/strong>, but this is not a sector we look at because hospitals tend to be very capex-heavy and take a long time to scale. We prefer asset-light businesses, like clinics and our fertility platform. In four years, we went from one to 15 centers across the Gulf and India. You can scale and build faster and will have generated a much higher return investing in clinics and asset-light healthcare opportunities than in hospitals.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E: Back to your strategy and priorities for the year: What will your investment-to-exit ratio look like?&nbsp;<\/strong><strong>And can you give us a breakdown of the investments you plan to make per market? <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>KS: I think this year we will see much more exits than new investments. <\/strong>We've been growing our companies for a long time, and we\u2019ve reached record profitability. It's an excellent time to be harvesting our portfolio. I expect the exit-to-investments ratio to be 2:1. That\u2019s where we are in the life cycle of our fund. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fund IV will be probably 70% Gulf, 30% Asia.<\/strong> But as we do more bolt-on acquisitions \u2014 acquisitions of smaller companies \u2014 most of which come from Asia, it could become 50:50. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/coffee-with\/\">Coffee With<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment\/\">investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/private-equity\/\">private equity<\/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=\"91730 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=\"91730\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/07\/91730-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91730\" class=\"content-area-description single-story post-91730 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.mashreq.com\/en\/uae\/about-us\/our-company\/awards-accolades\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/945.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"91731\" 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=\"91731\">\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\">STARTUP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/07\/uae-startups-led-mena-funding-in-april\/\">\r\n                            A spotlight on how much capital was raised by UAE, MENA startups in April                        <\/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\/05\/07\/uae-startups-led-mena-funding-in-april\/\" 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\/05\/07\/uae-startups-led-mena-funding-in-april\/')\">\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\/05\/07\/uae-startups-led-mena-funding-in-april\/\">\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=UAE startups led MENA funding in April&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/07\/uae-startups-led-mena-funding-in-april\/\">\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\/05\/07\/uae-startups-led-mena-funding-in-april\/&title=UAE startups led MENA funding in April\">\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=UAE+startups+led+MENA+funding+in+April+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F07%2Fuae-startups-led-mena-funding-in-april%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\/05\/07\/uae-startups-led-mena-funding-in-april\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/545.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91732\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/07\/uae-startups-led-mena-funding-in-april\/545-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/545.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"545.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/545.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/545.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91731\" class=\"content-area-description single-story post-91731 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-ecommerce tag-enterpriseam-uae tag-fintech tag-investment-watch tag-startup-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.a0bd5269-451b-4480-a005-6fc61ffab1a1.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Six UAE <\/strong><strong>startups raised a combined USD 32 mn in April 2024<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2024\/05\/mena-startups-raise-55-million-april-2024-78-march\" style=\"\" rel=\"noopener\">Wamda<\/a> reports, marking nearly a 1000% y-o-y increase compared to the USD 3 mn three UAE startups raised in April 2023, according to Enterprise calculations based on Wamda <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2023\/05\/mena-startups-raised-7-million-april-2023\" style=\"\" rel=\"noopener\">figures from last year<\/a>. UAE startups landed the largest sum of investments in MENA during the month, eclipsing Saudi Arabia.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who raised money: <\/strong>The largest ticket across the region was UAE fintech outfit Fortis, which <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/586c657f-184c-496b-a0c4-fef52291fadd\/\" style=\"\" rel=\"noopener\">raised USD 20 mn<\/a> in Series A funding. Dubai-based e-commerce platform Wee Marketplace also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/4e73d5aa-7c83-474d-ac6d-8dd807afb940\/wee-marketplace-bags-usd-10-mn-in-pre-series-a-funding\" style=\"\" rel=\"noopener\">secured USD 10 mn<\/a> in equity and debt from SIG Investment as part of its pre-series A funding, while Shorages <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/eaa04a1c-7a4b-4718-a023-a290090945d5\/%253cmark%253eshorages%253c%2Fmark%253e-closes-usd-1-mn-pre-series-a-funding-from-saudi-based-joa-capital\" style=\"\" rel=\"noopener\">closed a USD 1 mn<\/a> pre-series A led by Riyadh-based investment manager Joa Capital. Wamda does not provide further information on the other startups it says raised funding last month. <\/p>\n<p class=\"tag-border-left\"> THE REGIONAL PICTURE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investments in MENA startups rose 7x y-o-y to USD 55 mn in April<\/strong>, according to our math. Meanwhile, that figure shrank 78% on a monthly basis with startups landing USD 254 mn in <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2024\/04\/mena-startups-raise-254-million-march-pushing-q1-429-million\" style=\"\" rel=\"noopener\">March 2024<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fintech is king: <\/strong>Four fintech companies from the region bagged USD 25.7 mn in April, followed by ecommerce at USD 10.5 mn, AI companies at USD 8 mn, and SaaS providers at USD 3.5 mn. The bulk of funding went to companies that are at stages beyond the seed level.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investors are bullish on B2B startups<\/strong>, with USD 42.5 mn raised by B2B companies across 12 transactions, while B2B2C companies landed USD 11 mn, and those with a B2C model bagged USD 1.2 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Only one female founder was funded in April with a slim USD 100k<\/strong>, while male-founded startups reeled in USD 43 mn during the month. The remaining USD 11.9 mn went towards startups with mixed-gender leadership.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ecommerce\/\">Ecommerce<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/fintech\/\">fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment-watch\/\">INVESTMENT WATCH<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"91733\" 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=\"91733\">\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\/05\/07\/ihc-reports-bottom-line-growth-in-1q-2024-plans-aed-5-bn-share-buyback\/\">\r\n                            IHC reports bottom line growth in 1Q 2024, plans AED 5 bn share buyback                        <\/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\/05\/07\/ihc-reports-bottom-line-growth-in-1q-2024-plans-aed-5-bn-share-buyback\/\" 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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href=\"https:\/\/api.whatsapp.com\/send?text=IHC+reports+bottom+line+growth+in+1Q+2024%2C+plans+AED+5+bn+share+buyback+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F07%2Fihc-reports-bottom-line-growth-in-1q-2024-plans-aed-5-bn-share-buyback%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\/05\/07\/ihc-reports-bottom-line-growth-in-1q-2024-plans-aed-5-bn-share-buyback\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/628.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91734\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/07\/ihc-reports-bottom-line-growth-in-1q-2024-plans-aed-5-bn-share-buyback\/628-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/628.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"628.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/628.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/628.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91733\" class=\"content-area-description single-story post-91733 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-capital-markets tag-international-holding-company 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\/5\/.a0bd5269-451b-4480-a005-6fc61ffab1a1.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>IHC bottom line rises 87% in 1Q, announces AED 5 bn share buyback: <\/strong>ADX-listed conglomerate International Holding Company (IHC) saw its net income climb 87% y-o-y to AED 8 bn in 1Q 2024, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/332.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf).<\/a> The investment giant posted AED 19.3 bn in revenues, up 22% y-o-y during the quarter.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The conglomerate attributed its robust growth to \u201cpositive performance from key segments,\u201d <\/strong>particularly real estate \u2014 driven by the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/80677ede-8a02-4dcb-a25d-05577d22ffe7\/investors-are-still-loving-gulf-ipos\" style=\"\" rel=\"noopener\">transfer<\/a> of several assets under Modon Holding \u2014 as well as the marine and dredging segment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IHC plans to buy back to AED 5 bn of its shares <\/strong>over one year, leveraging its stable income growth \u201cto enhance shareholder value through increased earnings per share,\u201d the conglomerate said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/331.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a>. The share buyback program will see IHC cancel the shares after repurchasing them, pending board approval.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead, 2PointZero will help IHC diversify its portfolio <\/strong>\u201cand penetrate new markets and regions, aiming to maximize our impact,\" IHC CEO Syed Basar Shueb said. IHC set up 2PointZero in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/d6306190-3d8d-4978-8256-05e11406e561\/new-ihc-holdco%253cmark%253e-2pointzero-%253c%2Fmark%253elaunches,-holds-aed-100-bn-portfolio\" style=\"\" rel=\"noopener\">January<\/a> as a holding company with some AED 100 bn (USD 27 bn) of assets under its umbrella, including Chimera Investment, private-markets focused firm Lunate, crypto mining player Citadel Technologies, Middle-East focused Sagasse Investments, Egypt\u2019s Beltone Financial Holding, as well as Abu Dhabi\u2019s International Resources Holding.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/international-holding-company\/\">International Holding Company<\/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=\"91735\" 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=\"91735\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/07\/alpha-dhabi-empower-al-khaleej-and-ncth-report-1q-2024-earnings\/\">\r\n                            Alpha Dhabi, Empower, Al Khaleej, and NCTH report 1Q 2024 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\/05\/07\/alpha-dhabi-empower-al-khaleej-and-ncth-report-1q-2024-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(); 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The decline in net income was attributed to the recently introduced corporate tax and the <a target=\"_blank\" href=\"https:\/\/www.adx.ae\/English\/Pages\/NewsDetails.aspx?viewid=20220105090535-ALPHADHABI\" style=\"\" rel=\"noopener\">merger<\/a> of Pure Health with ADQ\u2019s healthcare subsidiaries in 2022.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Alpha Dhabi\u2019s revenues stood at a record AED 14.2 bn during the quarter<\/strong>, up 11% y-o-y. Its net operating income jumped 232% y-o-y to AED 2.56 bn, according to a separate <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/284.pdf\" style=\"\" rel=\"noopener\">summary of its financials (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Strategic partnerships and acquisitions also contributed to robust performance. <\/strong>Alpha Dhabi <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/0818a4c1-5ac6-4db3-92e1-2be1957b0421\/%253cmark%253ealpha%253c%2Fmark%253e%253cmark%253e-dhabi%253c%2Fmark%253e-transfers-25%2525-stake-in-gordon-technologies-to-its-jv-with-adnoc-drilling\" style=\"\" rel=\"noopener\">transferred its 25% stake<\/a> in Gordon Technologies to its recently formed JV with Adnoc Drilling during the quarter, and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/4824b656-c9e1-4d9e-8b0b-60ec651c6828\/adq-to-acquire-49%2525-stake-in%253cmark%253e-alpha%253c%2Fmark%253e%253cmark%253e-dhabi%253c%2Fmark%253e-construction%253cmark%253e-holding%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">shed a 49% stake<\/a> in its construction unit Alpha Dhabi Construction Holding to ADQ. The company also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/fa7faa39-cc5a-43f8-ab24-7aea18e4060c\/national-corporation-for-tourism-and-hotels-acquires-alpha-dhabi-subsidiaries\" style=\"\" rel=\"noopener\">sold three of its hotel businesses<\/a> in exchange for 1.25 bn new shares in the National Corporation for Tourism and Hotels, and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/fd237bd9-9efc-4ba9-abd5-e4398d06c153\/new-global-lifestyle-jv-for-admo-lifestyle-%2B-addmind\" style=\"\" rel=\"noopener\">launched a global lifestyle vertical<\/a> with Admo Lifestyle Holding via its luxury lifestyle subsidiary ADMO.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead:<\/strong> \u201cAs we chart the path forward into 2024, our aim is to build on this energy by unlocking exciting opportunities here in the UAE as well as expanding our global footprint. To do this, we will be both active and agile by exploring possibilities, including the adoption of Artificial Intelligence solutions, that expand and add depth to our portfolio,\u201d said Alpha Dhabi CEO Hamad Al Ameri.<\/p>\n<p class=\"tag-border-left\">EMPOWER-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A marginal drop in Empower\u2019s bottomline:<\/strong> Emirates Central Cooling Systems Corporation (Empower) recorded a 1% drop y-o-y in net income in 1Q 2024 to AED 167.4 mn, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/319.pdf\" style=\"\" rel=\"noopener\">financial statements (pdf)<\/a>. The company's revenues were up 8.8% y-o-y to AED 537.7 mn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Empower\u2019s portfolio expanded in 1Q: <\/strong>The company began the process of connecting <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/0120be66-0d37-493e-b6c9-5b9cb7e2afab\/\" style=\"\" rel=\"noopener\">Dubai\u2019s Al Wasl skyscraper<\/a> to its district cooling network last month and inked an agreement with Al Habtoor Group to supply <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f2763b67-18f3-41bd-a185-f5b68b8527f3\/\" style=\"\" rel=\"noopener\">Al Habtoor Tower<\/a> with district cooling services.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Empower expects revenues to keep rising: <\/strong>Stricter government regulations are anticipated to curb greenhouse gases in the coming years which will likely boost the expansion of district cooling, which offers more energy efficiency than conventional systems, the statement adds.<\/p>\n<p class=\"tag-border-left\">AL KHALEEJ INVESTMENTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Khaleej Investments turns to the black in 1Q: <\/strong>Ras Al Khaimah-based Al Khaleej Investments turned to profitability in 1Q 2024, reporting a net income of AED 4.6 mn over the period, compared to the AED 1.8 mn loss recorded in the same quarter last year, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/335.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Its top line remained mostly flat during the first three months of 2024, with revenues standing at AED 4.27 mn during the quarter. <\/p>\n<p class=\"tag-border-left\">NATIONAL CORPORATION FOR TOURISM AND HOTELS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The National Corporation for Tourism &amp; Hotels saw its net income grow to AED 19.6 mn <\/strong><strong>in 1Q 2024, <\/strong>marking a modest 2% y-o-y increase, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/339.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. The hospitality firm\u2019s revenues also inched up 0.9% y-o-y to AED 171.7 mn during the three-month period. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/al-khaleej-investments\/\">Al Khaleej Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/alpha-dhabi\/\">Alpha Dhabi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ihc\/\">IHC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/international-holding-company\/\">International Holding Company<\/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=\"91737\" 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=\"91737\">\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\/05\/07\/ajman-bank-speedinvest-tap-new-hires-plus-digital-school-board-reinstated\/\">\r\n                            Ajman Bank + Speedinvest tap new hires. PLUS: Digital School board reinstated                        <\/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\/05\/07\/ajman-bank-speedinvest-tap-new-hires-plus-digital-school-board-reinstated\/\" 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\/05\/07\/ajman-bank-speedinvest-tap-new-hires-plus-digital-school-board-reinstated\/')\">\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\/05\/07\/ajman-bank-speedinvest-tap-new-hires-plus-digital-school-board-reinstated\/\">\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=Ajman Bank + Speedinvest tap new hires. PLUS: Digital School board reinstated&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/07\/ajman-bank-speedinvest-tap-new-hires-plus-digital-school-board-reinstated\/\">\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\/05\/07\/ajman-bank-speedinvest-tap-new-hires-plus-digital-school-board-reinstated\/&title=Ajman Bank + Speedinvest tap new hires. PLUS: Digital School board reinstated\">\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=Ajman+Bank+%2B+Speedinvest+tap+new+hires.+PLUS%3A+Digital+School+board+reinstated+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F07%2Fajman-bank-speedinvest-tap-new-hires-plus-digital-school-board-reinstated%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\/05\/07\/ajman-bank-speedinvest-tap-new-hires-plus-digital-school-board-reinstated\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/268.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91738\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/07\/ajman-bank-speedinvest-tap-new-hires-plus-digital-school-board-reinstated\/268-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/268.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"268.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/268.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/268.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91737\" class=\"content-area-description single-story post-91737 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-ajman-bank tag-banking tag-enterpriseam-uae tag-moves tag-speedinvest tag-vc 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\/5\/.a0bd5269-451b-4480-a005-6fc61ffab1a1.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ajman Bank <\/strong>has appointed<strong>Adrian Hodges<\/strong><strong> (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/adrian-hodges-269b00a\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">LinkedIn<\/a><\/strong><strong>)<\/strong> as its new<strong> group treasurer<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7192526019273076736\/\" style=\"\" rel=\"noopener\">statement<\/a>. Hodges has over three decades worth of experience in treasury and global markets, and served previously as the head of global markets solutions at the Commercial Bank of Dubai.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Pan-European venture capital fund <strong><a target=\"_blank\" href=\"https:\/\/www.speedinvest.com\/\" style=\"\" rel=\"noopener\">Speedinvest<\/a><\/strong> appointed<strong> Rana Abdel Latif <\/strong>(<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/rana-abdel-latif\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as a <strong>partner <\/strong>in its<strong> emerging markets team<\/strong>, tasked with identifying future startup investments across the region, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/282.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. Rana has almost a decade of experience in M&A and financial transactions from her previous positions at Nclude Fintech Innovation Fund and Qalaa Holdings.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai ruler Mohammed bin Rashid Al <\/strong><strong>Maktoum has issued a directive to reconstitute the board of directors of <\/strong><strong><a target=\"_blank\" href=\"https:\/\/thedigitalschool.org\/\" style=\"\" rel=\"noopener\">the Digital School<\/a><\/strong>, one of the educational projects of the Mohammed Bin Rashid Al Maktoum Global Initiatives, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b30lt71-mohammed-bin-rashid-issues-decision-reconstituting\" style=\"\" rel=\"noopener\">Wam<\/a> reports. AI and Digital Economy minister Omar bin Sultan Al Olama was appointed head of the board, which will serve for three years until members are reappointed or a new board of directors is formed. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ajman-bank\/\">Ajman Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/speedinvest\/\">Speedinvest<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/vc\/\">VC<\/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=\"91739\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n    <div class=\"issue-sponsor-slides-div\">\r\n        \r\n    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class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/07\/emirates-to-promote-tourism-in-turkey-malaysia-and-china\/\">\r\n                            Emirates to promote tourism in Turkey, Malaysia and China + DFM suspends trading in Ekttitab Holding                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/340.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91741\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/07\/emirates-to-promote-tourism-in-turkey-malaysia-and-china\/340-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/340.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"340.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/340.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/340.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91740\" class=\"content-area-description single-story post-91740 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-ai tag-also-on-our-radar tag-aviation tag-capital-markets tag-dfm tag-education tag-emirates-airline tag-enterpriseam-uae tag-finance tag-healthcare tag-hospitality tag-infrastructure tag-m42 tag-real-estate tag-state-street tag-tanzania tag-tourism 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\/5\/.a0bd5269-451b-4480-a005-6fc61ffab1a1.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">AVIATION- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Emirates inks slew of partnerships: <\/strong>National carrier Emirates signed a number of partnership agreements yesterday during its participation in the Arabian Travel Market in Dubai, according to a <a target=\"_blank\" href=\"https:\/\/www.emirates.com\/media-centre\/emirates-kicks-off-atm-signs-mous-with-tourism-boards-of-malaysia-and-turkey-and-abu-dhabi-chamber-of-commerce\/\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Emirates and Tourism Malaysia signed an MoU aimed at enhancing tourism in Malaysia <\/strong>by organizing familiarization trips from GCC and Mena markets, where the carrier operates, and exploring launching joint advertising campaigns.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Emirates will team up with the T\u00fcrkiye Tourism Promotion and Development Agency to boost tourist traffic to Turkey<\/strong> in markets across the carrier\u2019s network by launching joint marketing campaigns. The agreement will also see Emirates explore opportunities with the agency to organize familiarization trips to Turkey.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Emirates and the Abu Dhabi Chamber of Commerce and Industry (ADCCI) will offer discounted travel services to ADCCI\u2019s employees <\/strong>under a partnership agreement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Emirates also signed an MoU with the China Cultural Centre in the UAE to promote inbound tourism to China, <\/strong>via joint advertising campaigns across Emirates\u2019 global network and facilitating trips to China, \u201cto increase awareness about the market\u2019s touristic appeal and develop more business and trade opportunities,\u201d a separate <a target=\"_blank\" href=\"https:\/\/www.emirates.com\/media-centre\/emirates-and-china-cultural-centre-establish-strategic-partnership-to-boost-tourism\/\" style=\"\" rel=\"noopener\">statement<\/a> reads.<\/p>\n<p class=\"tag-border-left\">CAPITAL MARKETS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Trading in DFM-listed Ekttitab Holding was suspended by the Capital Markets <\/strong><strong>Authority<\/strong> on Thursday due to reservations by the external auditor on its FY 2023 earnings, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/270.pdf\" style=\"\" rel=\"noopener\">bourse filing (pdf)<\/a>. The company has to clarify the nature of an \u201cinvestment in an associate company\u201d company, following the proper reporting guidelines, no later than 15 August.<\/p>\n<p class=\"tag-border-left\">FINANCE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asset manager State Street is reopening its Dubai office amid the region\u2019s rapid growth<\/strong>, particularly given the surge in IPO activity, CEO Yie-Hsin Hung told Bloombergin an interview (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/videos\/2024-05-06\/state-street-ceo-on-dubai-reopening-video\" style=\"\" rel=\"noopener\">watch, runtime: 5:32<\/a>). The Dubai office will focus on asset management, complementing the company\u2019s operations in Abu Dhabi, which primarily concentrate on investor servicing. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">HEALTHCARE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>M42 + AstraZeneca partner on preventive medicine and companion diagnostics: <\/strong>Abu Dhabi-based G42 healthcare arm M42 has inked an agreement with AstraZeneca to conduct sequencing of hereditary breast cancer in a bid to advance and develop preventive medicine in the field, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b30lsye-m42-astrazeneca-sign-agreement-advance-prevention\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The partnership will see the two companies launch one of the first companion diagnostics programs in the Gulf, which involves using tech to determine whether a patient qualifies for a certain treatment. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">INFRASTRUCTURE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Expanding water project in Tanzania:<\/strong> Suqia UAE and Emirates Red Crescent are drilling new artesian wells to provide clean drinking water to an additional 1 mn people in various regions and villages in Tanzania under the the UAE Water Aid Foundation initiative, according to the <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2024\/may\/06-05\/dewa\" style=\"\" rel=\"noopener\">Dubai Media Office<\/a>. <\/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\">HOSPITALITY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mered taps HBA as interior designs partner for new Dubai tower: <\/strong>Dubai-based real estate developer <a target=\"_blank\" href=\"https:\/\/mered.ae\/\" style=\"\" rel=\"noopener\">Mered<\/a> is partnering with American hospitality design firm Hirsch Bedner Associates (<a target=\"_blank\" href=\"https:\/\/www.hba.com\/\" style=\"\" rel=\"noopener\">HBA<\/a>) for the interior development of its <a target=\"_blank\" href=\"https:\/\/iconic-tower.ae\/\" style=\"\" rel=\"noopener\">Iconic Tower<\/a>, it said on <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/mered-ae_mered-luxuryrealestate-dubairealestate-activity-7191807909444411394-80-_\/?utm_source=share&utm_medium=member_desktop\" style=\"\" rel=\"noopener\">LinkedIn<\/a>. The residential tower will offer some 310 apartment units in Dubai Internet City, and is slated for handover in 2Q 2027.<\/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\">EDUCATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New index measuring AI in humanities:<\/strong> The University of Dubai and the Artificial Intelligence Journalism for Research and Forecasting have launched the Arab Index for Artificial Intelligence in Universities, according to a <a target=\"_blank\" href=\"https:\/\/aijwf.com\/university-of-dubai-to-host-the-4th-edition-of-artificial-intelligence-journalism-world-forum-aijwf\/\" style=\"\" rel=\"noopener\">press release<\/a>. The Index measures the integration of AI technologies into humanities and theoretical sciences across Arab universities through six indicators: curricula, professors, labs, student skills, and the scientific research index.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/aviation\/\">Aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dfm\/\">DFM<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/emirates-airline\/\">Emirates Airline<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/finance\/\">Finance<\/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\/hospitality\/\">hospitality<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/m42\/\">M42<\/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\/state-street\/\">State Street<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/tanzania\/\">Tanzania<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"91742\" 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=\"91742\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/07\/eu-calls-on-china-for-reciprocal-market-access-as-cheap-chinese-products-flood-the-bloc\/\">\r\n                            EU calls on China for reciprocal market access as cheap Chinese products flood the bloc                        <\/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\/05\/07\/eu-calls-on-china-for-reciprocal-market-access-as-cheap-chinese-products-flood-the-bloc\/\" target=\"_blank\">\n                    Open in new tab           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             <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/378.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91743\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/07\/eu-calls-on-china-for-reciprocal-market-access-as-cheap-chinese-products-flood-the-bloc\/378-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/378.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"378.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/378.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/378.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91742\" class=\"content-area-description single-story post-91742 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-china tag-enterpriseam-uae tag-eu tag-france tag-planet-finance tag-trade tag-ursula-von-der-leyen 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\/5\/.a0bd5269-451b-4480-a005-6fc61ffab1a1.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EU is ready to face China head-on over cheap imports: <\/strong>President of the European Commission Ursula von der Leyen called on China to work towards a more balanced trade relationship with the European Union during her meeting with Chinese President Xi Jinping in Paris yesterday. Von der Leyen warned that \u201cEurope will not waver from making tough decisions needed to protect its economy and security,\u201d while China is restricting the bloc\u2019s access to its markets and flooding Europe with heavily-subsidized Chinese products, according to a European Commision <a target=\"_blank\" href=\"https:\/\/ec.europa.eu\/commission\/presscorner\/detail\/en\/statement_24_2464\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But China argues that a clampdown on its imports would harm the global green<\/strong><strong> transition: <\/strong>China\u2019s cheaper green technologies are necessary to further the energy transition, Xi Jinping's Special Envoy for Climate Change Liu Zhenmin told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-01\/xi-jinping-s-climate-change-envoy-says-energy-transition-needs-china\" style=\"\" rel=\"noopener\">Bloomberg<\/a> on Thursday. Backlash from the US and EU would result in a \u201cdelay in the substitution of fossil fuels by renewables globally,\u201d Liu said, adding that energy transition costs would increase by up to USD 6 tn \u2014 equating to a 20% jump \u2014 without cheaper Chinese products and technology.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: Tensions over green technology <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f632262b-ef65-48db-857c-1040385d7956\/today:-green-hydrogen-updates-from-morocco-and-oman-%2B-are-smaller-cop-summits-on-the-horizon%3F\" style=\"\" rel=\"noopener\">have been brewing<\/a><\/strong><strong> for a while between<\/strong><strong> China and the West<\/strong> over the oversupply of cheap solar panels and EVs from China, which has crowded US and European markets and threatened domestic production. The European Commission launched an investigation <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f632262b-ef65-48db-857c-1040385d7956\/today:-green-hydrogen-updates-from-morocco-and-oman-%2B-are-smaller-cop-summits-on-the-horizon%3F\" style=\"\" rel=\"noopener\">in September<\/a> to consider imposing punitive tariffs on Chinese EV imports as a protection measure for local producers.<\/p>\n<p class=\"tag-border-left\">THE MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are in the green this morning <\/strong>as traders in Korea and Japan returned from a long weekend. The sole exception is the Hang Seng. US stock futures were largely unchanged in overnight trading, while European futures are doing a bit better, pointing to a comfortable start to the trading day. <\/p>\n<p><a target=\"_blank\" id=\"t.9f25f43592db503b2c142bb045bd2207c3e4297e\" 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\">9,035<\/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: -5.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,156<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +2.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">3,539<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: -7.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : AED<\/strong><strong> CBUAE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 3.67<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 3.67<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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\">5.3% 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-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>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\">12,373<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: +3.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">26,114<\/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\">+3.3% (YTD: +4.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,181<\/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: +8.6%)<\/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>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\">8,213<\/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: +6.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,957<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: +9.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 83.46<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.19<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,331.20<\/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\">+1.0%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 63,476.20<\/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\">-0.6% (YTD: +50.1%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ADX closed flat yesterday<\/strong> on turnover of AED 1.1 bn. The index is down 5.7% 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>Eshraq Investments (+5.1%), Palms Sports (+3.6%) and Al Seer Marine Supplies and Equipment (+3.3%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>GFH Financial Group (-5.4%), Gulf Medical Projects (-4.0%) and Gulf Cement (-3.8%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over on the DFM<\/strong>, the index rose 0.3% on turnover of AED 215.2 mn. Meanwhile Nasdaq Dubai closed up 0.4%.<\/p>\n<p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Agility subsidiary Agility Global approved a dividend payout of USD 130 mn for 2024<\/strong>, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/292.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>. The Kuwaiti logistics outfit <a target=\"_blank\" href=\"https:\/\/www.agility.com\/en\/\" style=\"\" rel=\"noopener\">Agility<\/a> subsidiary will distribute USD 65 mn in 1H 2024, one month after listing on the ADX, with the remaining USD 65 mn paid out in the second half of the year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>The Kuwaiti logistics outfit\u2019s operations and asset management subsidiary received approval from the Abu Dhabi Securities Exchange (ADX) to move forward with a technical listing on the Abu Dhabi bourse <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/1c28017f-4c14-44da-ad68-d82bd92e6abf\/%253cmark%253eagility%253c%2Fmark%253e-gets-adx-green-light-for-direct-listing\" style=\"\" rel=\"noopener\">last week<\/a>. Shares closed up <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/40cd08aa-1d5d-4ea6-a6e3-dfba0d137825\/%253cmark%253eagility%253c%2Fmark%253e-global-shares-jump-more-than-four-fold-on-adx-debut\" style=\"\" rel=\"noopener\">327%<\/a> on their trading debut on the ADX.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Al Yah Satellite Communications Company\u2019s board approved an interim dividend <\/strong><strong>distribution of AED 200.8 mn, <\/strong>according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/309.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>. This brings the total dividend for the year to AED 401.6 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Real estate firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/manazelgroup.com\/\" style=\"\" rel=\"noopener\">Manazel<\/a><\/strong><strong> has <\/strong><strong>tapped investment banking firm Houlihan Lokey to <\/strong><strong>act as its financial advisor<\/strong> on its capital optimization plan, the developer said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/337.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/eu\/\">EU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/france\/\">France<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ursula-von-der-leyen\/\">Ursula von der Leyen<\/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=\"91744\" 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=\"91744\">\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\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/07\/uae-new-zealand-launch-trade-talks\/\">\r\n                            UAE + New Zealand launch trade talks                        <\/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\/05\/07\/uae-new-zealand-launch-trade-talks\/\" 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\/05\/07\/uae-new-zealand-launch-trade-talks\/')\">\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\/05\/07\/uae-new-zealand-launch-trade-talks\/\">\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=UAE + New Zealand launch trade talks&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/07\/uae-new-zealand-launch-trade-talks\/\">\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\/05\/07\/uae-new-zealand-launch-trade-talks\/&title=UAE + New Zealand launch trade talks\">\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=UAE+%2B+New+Zealand+launch+trade+talks+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F07%2Fuae-new-zealand-launch-trade-talks%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\/05\/07\/uae-new-zealand-launch-trade-talks\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/356.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91745\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/07\/uae-new-zealand-launch-trade-talks\/356-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/356.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"356.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/356.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/356.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91744\" class=\"content-area-description single-story post-91744 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-australia tag-cepa tag-diplomacy tag-enterpriseam-uae tag-new-zealand 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\/5\/.a0bd5269-451b-4480-a005-6fc61ffab1a1.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The UAE and New Zealand are in discussions to sign an economic partnership and trade agreement<\/strong>, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b30lt43-uae-new-zealand-launch-comprehensive-economic\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The agreement would cover sectors including agriculture, tourism, technology, logistics, education, healthcare, and renewable energy. The two countries have already conducted \u201cexploratory discussions\u201d and public consultations, and are now \u201ceager to get started,\u201d Trade Minister Thani bin Ahmed Al Zeyoudi said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Foreign Minister Abdullah bin Zayed and his Australian counterpart Penny Wong <\/strong><strong>discussed increasing bilateral cooperation<\/strong>, as well as ongoing regional tensions, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b30lt19-abdullah-bin-zayed-australian-counterpart-discuss\" style=\"\" rel=\"noopener\">Wam<\/a> reports. They emphasized the importance of strengthening ties between the two nations in trade, investment, and security. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- Ras Al Khaimah Ruler Sheikh Saud bin Saqr Al Qasimi met with Italian Tourism Minister Daniela Santanch\u00e8 to discuss boosting cooperation<\/strong> on tourism and sustainable development, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b30ltfq-saud-bin-saqr-receives-italian-minister-tourism\" style=\"\" rel=\"noopener\">Wam<\/a> reported. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/australia\/\">Australia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/cepa\/\">CEPA<\/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\/new-zealand\/\">New Zealand<\/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=\"91746\" 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\/05\/07\/91746-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91746\" class=\"content-area-description single-story post-91746 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;\">MAY<\/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;\">5-10 May (Sunday-Friday): Sharjah Chamber of Commerce and Industry sends trade delegation to India<\/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;\">5-10 May (Sunday-Friday): Dubai International Chamber sends trade mission to Indonesia and Vietnam<\/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 style=\"font-weight:400;\">6-9 May (Monday-Thursday): The Arab Tourism Media Awards, Dubai International Convention and Exhibition Centre.<\/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;\">13-15 May (Monday-Wednesday): The Abu Dhabi Global Healthcare Week, Abu Dhabi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">14-15 May (Tuesday-Wednesday): Seamless Middle East, Dubai World Trade Centre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>14-16 May (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.theairportshow.com\/\" style=\"\">The Airport Show<\/a><\/span><span style=\"font-weight:400;\">, Dubai World Trade Centre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">16-19 May (Thursday-Sunday): Acres Real Estate 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>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 style=\"font-weight:400;\">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<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 2028:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\"> Abu Dhabi to host the 47th Chess Olympiad<\/span><\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Coffee with: Gulf Capital\u2019s Karim El Solh | IHC plans AED 5 bn share buyback | UAE, New Zealand launch trade talks<\/p>\n","protected":false},"featured_media":91723,"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-91722","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"b0a694b8-8a4e-4e9e-aa3c-54f18f1bdffe","teaser":"Coffee with: Gulf Capital\u2019s Karim El Solh | IHC plans AED 5 bn share buyback | UAE, New Zealand launch trade talks","photo_url":"https:\/\/ent.news\/2024\/1\/1909.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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