{"id":91817,"date":"2024-05-09T00:00:00","date_gmt":"2024-05-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=91817"},"modified":"2025-12-15T00:17:13","modified_gmt":"2025-12-15T00:17:13","slug":"wood-group-rejects-sidaras-gbp-1-4-bn-takeover-bid","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/wood-group-rejects-sidaras-gbp-1-4-bn-takeover-bid\/","title":{"rendered":"Wood Group rejects Sidara\u2019s GBP 1.4 bn takeover bid"},"content":{"rendered":"<section id=\"91819\" 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=\"91819\">\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\/09\/new-aed-16-8-bn-dubai-transport-strategy-spinneys-shares-start-trading-today\/\">\r\n                            THIS MORNING: New AED 16.8 bn Dubai transport strategy? 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M&amp;A. <\/strong>We have news of a rejected takeover bid by Dubai-based infrastructure firm Sidara \u2014 formerly Dar Group \u2014 of British multinational John Wood Group; Mubadala-owned Spanish oil refiner Cepsa divesting its upstream assets in Peru in a bid to transition towards green energy; and more on Phoenix\u2019s acquisition of Rekt and Taqa\u2019s potential takeover of Spain\u2019s Naturgy.<\/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\"><a id=\"wwtt5\"><\/a> <strong>#1- Your taxi ride in Dubai just got a little more expensive: <\/strong>Dubai Taxi has announced a new rate of AED 2.09 per km for taxi fares in Dubai, up from <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/business\/transport-and-logistics\/dubai-rta-sets-new-minimum-fare-for-taxis-during-major-events-new-years-eve-v7y4bj3d\" style=\"\" rel=\"noopener\">AED 1.97 per km<\/a>, according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/www.dubaitaxi.ae\/en\/our-services\/taxi\" style=\"\" rel=\"noopener\">website<\/a>. Fare hikes come on the back of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/44c5817d-5f3a-4219-ab2b-2a01650c4c0d\/distance-learning-is-back-tomorrow-and-after\" style=\"\" rel=\"noopener\">fuel prices climbing<\/a> for the fourth consecutive month in May, marking a seven-month high. The company left base rates unchanged at AED 12.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The Dubai Metro is set to resume normal services at several stations affected by the storm on 28 May<\/strong>, Dubai\u2019s Roads and Transport Authority (RTA) said in a <a target=\"_blank\" href=\"https:\/\/www.rta.ae\/wps\/portal\/rta\/ae\/home\/news-and-media\/all-news\/NewsDetails\/resuming-metro-services-at-stations-affected-by-weather-conditions-by-may-28th\" style=\"\" rel=\"noopener\">statement<\/a>. The Passive, Equity, Mashreq, and Energy metro stations will resume their normal operations after undergoing maintenance and safety tests.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Until then, you can catch the bus instead: <\/strong>The RTA will deploy over 150 buses on three routes during metro operation hours until operations resume, it said. Bus services grid passengers commuting from Business Bay Metro Station to several other key stations.<\/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- Mercedes-Benz is recalling over 2.5k SUVs in the UAE due to a transmission <\/strong><strong>issue<\/strong>, specifically in GLS\/GLE models from 2019 to 2023 with the M256 engine and automatic transmission NAG3, <a target=\"_blank\" href=\"https:\/\/www.khaleejtimes.com\/business\/auto\/uae-mercedes-benz-to-recall-over-2500-suvs-over-transmission-issue\" style=\"\" rel=\"noopener\">Khaleej Times<\/a> reports. Local importers across the country are coordinating the recall, reaching out to affected vehicle owners for necessary checks and repairs.<\/p>\n<p class=\"tag-border-left\"> HAPPENING TODAY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt4\"><\/a><strong> #1- Spinneys\u2019 shares will begin trading on the DFM today under the ticker SPINNEYS. <\/strong>The IPO <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/c4d11ecf-b359-4f9d-9acf-98da56eb5a55\/%253cmark%253espinneys%253c%2Fmark%253e%25e2%2580%2599-ipo-subscription-attracts-71-bn-in-orders\" style=\"\" rel=\"noopener\">raised<\/a> AED 1.38 bn, with over AED 71 bn in orders, as well as AED 275 mn from cornerstone investors. The final share price was set at AED 1.53 per share, giving the company a market cap of AED 5.51 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong> Our friends at HSBC Middle East are joint global coordinators alongside Emirates NBD Capital and Merrill Lynch. Our friends at EFG Hermes are joint bookrunners, while Rothschild Middle East is independent financial advisor. Emirates NBD Capital is also acting as listing advisor, while Emirates NBD Bank is lead receiving bank. Other receiving banks include our friends at FAB as well as MBank and Commercial Bank of Dubai.<\/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 trade missions in India:<\/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>The Sharjah-India Business Forum, held as part of the trade mission, <\/strong><strong>featured <\/strong><strong>around 160 business meetings seeking to attract Indian businessmen to Sharjah<\/strong>, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/13wkv3v-scci%E2%80%99s-trade-mission-india-holds-%E2%80%9Csharjah-india\" style=\"\" rel=\"noopener\">Wam<\/a> writes. The delegation met with:<\/p>\n<ul>\n<li>Indian Investment promotion agency <strong>Guidance Tamil Nadu<\/strong> to explore ways to strengthen bilateral economic and investment cooperation between both nations;<\/li>\n<li>The <strong>Madras Electrical Traders Association Chennai<\/strong>, comprising companies in the electricity trade sector, to explore cooperation and investments in the energy and electrical industries.<\/li>\n<\/ul>\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 <\/strong><strong>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 is on its final day at <\/strong>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> is also on its final day <\/strong><strong>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 two-day <\/strong><strong><a target=\"_blank\" href=\"https:\/\/dubai.ifinexpo.com\/\" style=\"\" rel=\"noopener\">Innovative Finance Expo<\/a><\/strong><strong> wraps today 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>***<br \/><\/strong><strong>DID YOU KNOW that we also cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Egypt<\/a><\/strong><strong>&nbsp;and <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong>?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a>&nbsp;to get your own copy of EnterpriseAM UAE delivered every weekday before 7am UAE time \u2014 without charge, thanks to our friends at Mashreq.<br \/><strong>***<\/strong><\/p>\n<p class=\"tag-border-left\">WATCH THIS SPACE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt3\"><\/a><strong> #1- The UAE is expected to reel in USD 30 bn in foreign direct investment (FDI) <\/strong><strong>inflows in 2024<\/strong>, International Investors Council Secretary General Jamal Al Jarwan said during a panel at the AIM Congress 2024 in Abu Dhabi, <a target=\"_blank\" href=\"https:\/\/www.khaleejtimes.com\/business\/uae-to-hit-30-billion-in-fdi-inflows-this-year\" style=\"\" rel=\"noopener\">Khaleej Times<\/a>&nbsp;reports. Despite regional tensions, the Emirates remains \u201cthe least risky market in the world,\u201d Al Jarwan said. This would see inflows increase 30% from the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/cb672c36-428a-4a18-ad74-00572f7b1e10\/the-uae-was-the-second-most-popular-destination-for-inward-investment-in-greenfields-last-year#:~:text=Total%20FDI%20flows%20into%20the%20UAE%20reached%20USD%2023%20bn%20in%202023%2C%20Economy%20Minister%20Abdulla%20bin%20Touq%20Al%20Marri%20told%20Asharq%20Business%20(watch%2C%20runtime%3A%202%3A32)%20on%20the%20sidelines%20of%20the%20World%20Economic%20Forum.\" style=\"\" rel=\"noopener\">USD 23 bn<\/a> recorded last year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The government is looking to draw in <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-09-05\/uae-seeks-to-draw-150-billion-foreign-investment-in-nine-years\" style=\"\" rel=\"noopener\">USD 150 bn<\/a> worth of FDI inflows by 2031. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#2<\/strong><strong>- The ADX is expecting three new listings in the second half of 2024<\/strong>, including two companies from a sector currently not yet represented in the market, ADX CEO Abdullah Al Nuaimi told <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/63542\/%D8%A8%D9%88%D8%B1%D8%B5%D8%A9-%D8%A3%D8%A8%D9%88%D8%B8%D8%A8%D9%8A-%D8%AA%D8%AA%D8%B1%D9%82%D8%A8-3-%D8%B7%D8%B1%D9%88%D8%AD%D8%A7%D8%AA-%D8%AC%D8%AF%D9%8A%D8%AF%D8%A9-%D8%AE%D9%84%D8%A7%D9%84-%D8%A7%D9%84%D9%86%D8%B5%D9%81-%D8%A7%D9%84%D8%AB%D8%A7%D9%86%D9%8A-%D9%85%D9%86-%D8%A7%D9%84%D8%B9%D8%A7%D9%85\/\" style=\"\" rel=\"noopener\">{Asharq Business}<\/a>. In 2023, the exchange welcomed six new companies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A look at our IPO pipeline:<\/strong> Supermarket chain operator LuLu Group International is reportedly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/7afffccb-5246-40b3-9f59-a15d3f145e46\/spinneys-plans-may-dfm-debut,-ksa-expansion-this-year\" style=\"\" rel=\"noopener\">gearing up for listing<\/a> in Abu Dhabi, with a possible dual listing on the Riyadh Stock Exchange. Edtech firm Alef Education has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/9e6ab588-7cbe-4ef7-acfb-97819fbace7d\/alef-education-moves-forward-with-planned-ipo\" style=\"\" rel=\"noopener\">also already tapped banks<\/a> to advise on its planned ADX IPO, while Etihad Airways\u2019 highly anticipated listing \u2014 which could become the first by a Gulf carrier \u2014 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/fb6668e9-b741-4d46-90fd-c0709ca49bf5\/etihad-airways-moves-forward-with-planned-ipo\" style=\"\" rel=\"noopener\">could take place<\/a> by year\u2019s end.<\/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=\"wwtt1\"><\/a> <strong>#3- An AED 16.8 bn transport strategy\u2026: <\/strong>Dubai\u2019s Executive Council approved a transport strategy yesterday that aims to nearly double the contribution of logistics and transport to the emirate\u2019s economy to AED 16.8 bn, state news agency <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b31soqh-aed128-billion-plan-for-worlds-largest-airport\" style=\"\" rel=\"noopener\">Wam<\/a> reported late yesterday. The strategy will also aim to increase tech adoption in infrastructure by 75%, reduce carbon emissions in the sector by 30%, and improve operational efficiency by 10%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u2026and reduced traffic flows? <\/strong>The council also approved a plan to reduce traffic in the emirate by increasing public bus routes \u2014 improving trip times by 59% \u2014 and expanding remote work policies, as well as encouraging students to use school transport. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>The council approved a strategy aiming to increase Dubai\u2019s data capacity fivefold, boosting \u201cvalue addition\u201d by AED 14.3 bn annually, according to Wam.<\/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>#4- Gulf Pharma Industries (Jalphar) plans to expand to key markets <\/strong>as part of its new strategic expansion plan to accelerate revenue growth by \u201ccompressing the times it takes to internationalize products,\u201d Julphar\u2019s senior executives said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/545.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The new plan will see the pharma firm shift to a parallel market model, moving away from its previous approach of developing and launching products locally in the UAE before exporting them. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Jalphar\u2019s income took a blow last year amid regional tensions: <\/strong>The pharma company\u2019s sales were impacted in 2023 by ongoing regional headwinds, including Egypt\u2019s currency devaluation, the civil war in Sudan, Iraq\u2019s import restrictions, and Algeria's nationalization efforts. The company\u2019s board cited these as factors behind the modest 1.4% y-o-y growth in sales <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/541.pdf\" style=\"\" rel=\"noopener\">last year (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> Julphar widened its net losses to AED 98.5 mn last year, from AED 31.7 mn in 2022, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/540.pdf\" style=\"\" rel=\"noopener\">financial statements (pdf)<\/a>.<\/p>\n<p class=\"tag-border-left\"> DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The UAE held the second-largest share (33%) of Fitch-rated ESG sukuk <\/strong><strong>globally in 1Q <\/strong><strong>2024<\/strong>, following Saudi Arabia\u2019s 45%, according to a <a target=\"_blank\" href=\"https:\/\/www.fitchratings.com\/research\/islamic-finance\/esg-sukuk-growth-amid-regulatory-initiatives-market-to-cross-usd50-billion-07-05-2024\" style=\"\" rel=\"noopener\">statement<\/a>. Outstanding global ESG sukuk rose 60.3% y-o-y to USD 40 bn across all currencies during the quarter, constituting 12% of global outstanding sukuk in hard currencies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Formula 1 Etihad Airways Abu Dhabi Grand Prix 2024 contributed AED 1.16 bn<\/strong><strong> to <\/strong><strong>Abu Dhabi\u2019s economy<\/strong> in 2023, making it the region's largest sporting and entertainment event, the <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/sport\/formula-1-etihad-airways-abu-dhabi-grand-prix-generates-aed116bn-for-emirates-economy-in-2023-via-attendee-spend\/\" style=\"\" rel=\"noopener\">Abu Dhabi Media Office<\/a> reports, citing event organizer Ethara. <\/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>The war in Gaza and a dysfunctional global EV market <\/strong>are two of the big stories that you need to know this morning. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Joe Biden has warned Israel that he will cut off shipments of offensive weapons <\/strong>(we\u2019re \u2026 not sure what weapon isn\u2019t offensive?) <strong>to Israel \u201cif they go into Rafah.\u201d<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In his own words: <\/strong>\u201cI made it clear that if they go into Rafah \u2014 they haven\u2019t gone in Rafah yet \u2014 if they go into Rafah, I\u2019m not supplying the weapons that have been used historically to deal with Rafah, to deal with the cities \u2014 that deal with that problem,\u201d he said in an <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/05\/08\/politics\/joe-biden-interview-cnntv\/index.html\" style=\"\" rel=\"noopener\">{exclusive with CNN}<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The story is leading front pages around the world: <\/strong><a target=\"_blank\" href=\"https:\/\/www.politico.com\/news\/2024\/05\/08\/biden-says-u-s-will-cut-off-offensive-weapons-to-israel-if-they-go-into-rafah-00156943\" style=\"\" rel=\"noopener\">Politico<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/3cde9d07-4c90-4f2c-86f4-f1dc307bd9f5\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/middle-east\/how-netanyahu-pushed-biden-to-the-edge-of-his-red-line-031d7782?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">Wall Street<\/a><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/middle-east\/how-netanyahu-pushed-biden-to-the-edge-of-his-red-line-031d7782?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-08\/biden-widens-rift-with-israel-in-move-that-paused-bomb-shipments?srnd=homepage-middle-east&amp;sref=mmeFTDW1\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/biden-says-bombs-us-has-paused-sending-israel-have-killed-civilians-2024-05-08\/\" style=\"\" rel=\"noopener\">Reuters<\/a>.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Those Chinese-made EVs you see plying Cairo's streets? They're part of a global problem<\/strong><strong>. <\/strong>Sales of EVs are up sharply at BMW \u2014 and the Bavarian carmaker saw its margins collapse in 1Q as a result, reports Germany\u2019s <a target=\"_blank\" href=\"https:\/\/www.handelsblatt.com\/unternehmen\/industrie\/bmw-bmw-verkauft-deutlich-mehr-elektroautos-gewinn-bricht-ein-01\/100037035.html\" style=\"\" rel=\"noopener\">Handelsblatt<\/a>. The culprit? Competition is rising in a softening market in which many players have tons of excess product, forcing it to cut selling prices. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A lot of that oversupply is coming from China<\/strong>, where companies are now pushing EVs on other markets \u2014 including here in the Middle East. That has even friendly trade partners on edge and saw the European Union this week threaten to impose sanctions on Chinese EVs unless Beijing takes action in the short term, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-08\/china-s-factory-glut-alarms-the-world-but-there-s-no-quick-fix?srnd=homepage-middle-east&amp;sref=mmeFTDW1\" style=\"\" rel=\"noopener\">Bloomberg<\/a> notes. EC boss Ursula von der Leyen said China is \u201cflooding our market with massively subsidized electric cars,\u201d <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/eus-von-der-leyen-china-must-be-stopped-flooding-ev-market-2024-05-08\/\" style=\"\" rel=\"noopener\">Reuters<\/a> adds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Chinese companies could look to start producing EVs in other countries <\/strong>in a bid to ease tensions \u2014 much as Japanese automakers did to smooth-out economic relations with the US back in the 1980s. Two cases in point: EV leader Byd as well as Neta Auto plan to start producing EVs in the lucrative Indonesian market, with Byd saying it will invest USD 1 bn in its plant, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/ea5985a7-ecc0-41fe-bf7e-6493b1bdec33\" style=\"\" rel=\"noopener\">Financial Times<\/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>AND- <\/strong>Top French business daily <a target=\"_blank\" href=\"https:\/\/www.lesechos.fr\/monde\/europe\/europeennes-2024-lue-deploie-toutes-ses-forces-pour-lutter-contre-la-desinformation-2093847\" style=\"\" rel=\"noopener\">Les echos<\/a> reports that <strong>European officials are worried about <\/strong><strong>deep fakes and disinformation<\/strong> campaigns heading into the 6-9 June European Parliament elections. <\/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.&nbsp;<\/strong>It features speakers from Egypt and abroad who are future-proofing their businesses and angling to capture tomorrow\u2019s opportunities \u2014 and who aren\u2019t afraid to answer some tough questions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.0;orphans:2;widows:2;text-align:left\">&nbsp;<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 style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">***<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TAP OR CLICK HERE TO READ WITH ALL OF THE LINKS <\/strong>to our background and external sources.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">***<\/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 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><a target=\"_blank\" href=\"https:\/\/gpca.org.ae\/conferences\/scc\/\" style=\"\" rel=\"noopener\">The Gulf Petrochemicals and Chemicals Association Supply Chain<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/gpca.org.ae\/conferences\/scc\/\" style=\"\" rel=\"noopener\">Conference<\/a><\/strong><strong> is scheduled<\/strong><strong> for next Wednesday and Thursday, 15-16 May<\/strong> at the Address Sky View Hotel in Dubai. The conference will bring together industry players under the theme Harnessing Connectivity for a Sustainable Tomorrow, discussing supply chain connectivity and AI integration in the industry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The<\/strong><strong> International Exhibition of National Security and Resilience<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.isnrabudhabi.com\/\" style=\"\" rel=\"noopener\">2024 Conference<\/a><\/strong><strong> is <\/strong><strong>happening<\/strong><strong> on 21-22 May 2024 at Adnec Abu Dhabi<\/strong>, coinciding with the International Exhibition of National Security and Resilience, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/de\/article\/b30lt9y-isnr-2024-conference-begin-21st-may-abu-dhabi\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The conference is set to gather top CEOs, leaders, and experts from different fields to discuss security challenges and promote strategic partnerships.<\/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\/adx\/\">ADX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai\/\">Dubai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ipo-watch\/\">IPO WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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=\"91821\" 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=\"91821\">\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\/09\/wood-group-rejects-sidaras-gbp-1-4-bn-takeover-bid\/\">\r\n                            Wood Group rejects Sidara\u2019s GBP 1.4 bn takeover bid                        <\/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\/09\/wood-group-rejects-sidaras-gbp-1-4-bn-takeover-bid\/\" 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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Wood Group\u2019s statement came following reports from <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-08\/sidara-is-said-to-weigh-potential-acquisition-of-john-wood-group?embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> earlier in the day signaling interest from Sidara in a stake in the Aberdeen-based firm.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale:<\/strong> Sidara had submitted a preliminary offer to buy the consultancy firm for GBP 2.05 per share, a proposal Wood Group deemed was \u201cfundamentally undervaluing Wood and its future prospects.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sidara still has a chance:<\/strong> Wood has set 5 June as a deadline for Sidara to submit another offer or withdraw its bid. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wood is in a tight spot: <\/strong><a target=\"_blank\" href=\"https:\/\/pressreleasehub.pa.media\/article\/sparta-capital-sends-letter-to-board-of-directors-of-wood-group-16005.html#:~:text=In%20particular%2C%20the,during%20this%20process.\" style=\"\" rel=\"noopener\">Last month<\/a>, shareholder Sparta Capital Management urged Wood to consider listing in the US or selling the company after negotiations with buyout group Apollo to buy the company <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/apollo-global-says-does-not-intend-make-offer-uks-wood-group-2023-05-15\/\" style=\"\" rel=\"noopener\">fell through<\/a>. Apollo\u2019s bid \u2014 which it withdrew last month \u2014 had valued the company at GBP 1.66 bn at the time. Wood\u2019s shares had fallen about 25% over the past year, Bloomberg reports, giving it a market value of GBP 1.1 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reax:&nbsp;<\/strong>Wood\u2019s shares rose as much as 26% in intraday trading, before closing up nearly 17% at GBP 1.92, putting Sidara\u2019s offer at a 7% premium above yesterday\u2019s closing price and 24% above Tuesday\u2019s closing price of GBP 1.65.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisers: <\/strong>JPMorgan Chase and Morgan Stanley serve as joint financial advisers and corporate brokers to Wood.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> Sidara sold a 19% stake worth USD 1.4 bn in engineering group Worley <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/4c6ccb5d-64ee-444d-8660-24be9fdaad47\/chief-ai-officers-for-all-dubai-gov%25e2%2580%2599t-entities-%2B%253cmark%253e-sidara%253c%2Fmark%253e-offloads-usd-1.4-bn-stake-in-worley#:~:text=%231%2D%20Has%20Sidara,advisor%20to%20Sidara.\" style=\"\" rel=\"noopener\">last month<\/a>. The stake sale saw Sidara\u2019s share in the Australian firm shrink to 4.5% after it had been Worley\u2019s largest shareholder. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> Dar Group recently <a target=\"_blank\" href=\"https:\/\/www.sidaracollaborative.com\/article-1.html\" style=\"\" rel=\"noopener\">rebranded<\/a> to Sidara, a holding firm with 17 brands under its belt, including Middle East-focused Dar. The company is currently working on building Dubai International Financial Centre\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/91fc258f-b8e5-458a-a1ef-cbe387864a46\/difc-kicks-off-construction-on-aed-1-bn-immersive-tower#:~:text=New%20office%20tower,in%20April%202027.\" style=\"\" rel=\"noopener\">new AED 1.1 bn tower<\/a>, slated for completion by April 2027.<\/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>ADX-listed crypto firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.thephoenixgroup.com\/\" style=\"\" rel=\"noopener\">Phoenix Group<\/a><\/strong><strong> completed its acquisition of a 12.5% <\/strong><strong>minority stake in Dubai-based web3 gaming firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/rektstudio.com\/\" style=\"\" rel=\"noopener\">Rekt Studios<\/a><\/strong><strong> yesterday,<\/strong> with the acquisition executed through Phoenix\u2019s wholly-owned subsidiary, Phoenix INV Holdings, <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/business\/fintech\/abu-dhabi-listed-crypto-firm-phoenix-group-acquires-125-stake-in-rekt-studios-vyi491yh\" style=\"\" rel=\"noopener\">Zawya<\/a> reports. The company had previously said the transaction was valued at <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f7d0e57c-6384-4975-8801-30291cf93252\/phoenix-group-gets-green-light-to-acquire-12.5%2525-of%253cmark%253e-rekt%253c%2Fmark%253e-studios\" style=\"\" rel=\"noopener\">USD 2.5 mn<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:&nbsp;<\/strong>Phoenix\u2019s board gave the acquisition the green light <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f7d0e57c-6384-4975-8801-30291cf93252\/phoenix-group-gets-green-light-to-acquire-12.5%2525-of%253cmark%253e-rekt%253c%2Fmark%253e-studios\" style=\"\" rel=\"noopener\">last month<\/a>. The crypto conglomerate has doubled down on its efforts to expand its footprint since <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/a91af067-1959-4846-b417-55c43961b097\" style=\"\" rel=\"noopener\">debuting<\/a> on the ADX in December to strong investor appetite. The company shelled out <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/5ebddda6-5b63-4a7f-a4d5-9e0ea2aabb32\/phoenix-subsidiary-buys-btc-mining-machines-from-bitmain-to-boost-hashing-power\" style=\"\" rel=\"noopener\">USD 187 mn for BTC mining machines<\/a> from Bitmain Development and snagged a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/8b459a04-d274-4c85-a9d9-a9e180774c2e\/crypto-conglomerate%253cmark%253e-phoenix-%253c%2Fmark%253egroup-to-acquire-25%2525-stake-in-monetization-platform-lyvely\" style=\"\" rel=\"noopener\">25% stake<\/a> in UAE-based content monetization platform <a target=\"_blank\" href=\"https:\/\/lyvely.com\/\" style=\"\" rel=\"noopener\">Lyvely<\/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\/ma\/\">M&amp;A<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/phoenix-group\/\">Phoenix Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/sidara\/\">Sidara<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/web3\/\">Web3<\/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=\"91823\" 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=\"91823\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/09\/mubadala-backed-cepsa-sells-upstream-assets-in-peru\/\">\r\n                            Mubadala-backed Cepsa sells upstream assets in Peru to Canada\u2019s PetroTal                        <\/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\/09\/mubadala-backed-cepsa-sells-upstream-assets-in-peru\/\" 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 transaction also includes the transfer of one of Cepsa\u2019s subsidiaries that manages a Los Angeles oil field to the Canadian oil company. The value of the transaction was not disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The transaction is part of Cepsa\u2019s 2030 green strategy<\/strong>, which will see the company shift towards sustainable energy by investing around EUR 8 bn in green hydrogen and biofuel for heavy transportation and industries such as trucking, shipping, and airlines, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-30\/abu-dhabi-s-spanish-refiner-aims-to-be-global-hydrogen-behemoth\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported in March.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More on Cepsa:<\/strong> Abu Dhabi wealth fund Mubadala <a target=\"_blank\" href=\"https:\/\/www.mubadala.com\/en\/news\/carlyle-group-completes-acquisition-shareholding-cepsa-mubadala\" style=\"\" rel=\"noopener\">holds a majority stake<\/a> in Cepsa, the second largest oil company in Spain, while the global investment firm The Carlyle Group owns 37%. <\/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>Naturgy gas supplies won\u2019t be affected by Taqa\u2019s potential takeover: <\/strong>Abu Dhabi National Energy Company\u2019s (Taqa) potential acquisition of Madrid-based gas producer and renewable energy player Naturgy will not impact its gas supply contracts with Algeria, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/naturgy-says-gas-supply-contracts-with-algeria-unaffected-by-shareholding-2024-05-07\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported, citing a company statement. The statement came in response to reports that Algeria will <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/algeria-cancel-gas-deliveries-naturgy-if-shares-sold-another-company-source-says-2024-05-06\/\" style=\"\" rel=\"noopener\">cease its gas exports<\/a> to Naturgy if the gas producer\u2019s shareholder structure changes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cThere have never been any clauses in the supply contracts (the current contracts expire in 2030\/31) that were affected by possible changes in the shareholding of either party,\u201d Reuters quoted a spokesperson as saying. \u201cIn fact, such shareholder changes have occurred in the past and have had no impact on the contracts' performance,\u201d he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong>Taqa is in talks with Naturgy\u2019s two largest shareholders \u2014 <a target=\"_blank\" href=\"https:\/\/www.cvc.com\/\" style=\"\" rel=\"noopener\">CVC Capital Partners<\/a> and <a target=\"_blank\" href=\"https:\/\/www.global-infra.com\/\" style=\"\" rel=\"noopener\">Global Infrastructure Partners<\/a> \u2014 to potentially acquire their stakes in the Spanish company, a transaction that the Spanish and Algerian governments are reportedly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/74706d6e-3315-4796-99f7-ca904f248f8b\/taqa%25e2%2580%2599s-naturgy-bid-could-hit-resistance-in-spain-%2B-algeria,-reports-suggest\" style=\"\" rel=\"noopener\">considering blocking<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shareholder ownership: <\/strong>Caixabank owner Criteria owns a 26.7% stake in Naturgy, while GIP and CVC each own around 20%, according to Reuters. Algerian state-owned oil company Sonatrach holds a 4.1% stake in Naturgy and is a major international partner of the Spanish energy company.<\/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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/mubadala\/\">Mubadala<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/taqa\/\">Taqa<\/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=\"91825 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=\"91825\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/09\/91825-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91825\" class=\"content-area-description single-story post-91825 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=\"91826\" 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=\"91826\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/09\/aldar-properties-launches-usd-500-mn-green-sukuk\/\">\r\n                            Aldar Properties launches USD 500 mn green sukuk                        <\/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\/09\/aldar-properties-launches-usd-500-mn-green-sukuk\/\" 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\/09\/aldar-properties-launches-usd-500-mn-green-sukuk\/')\">\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\/09\/aldar-properties-launches-usd-500-mn-green-sukuk\/\">\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=Aldar Properties launches USD 500 mn green sukuk&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/09\/aldar-properties-launches-usd-500-mn-green-sukuk\/\">\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\/09\/aldar-properties-launches-usd-500-mn-green-sukuk\/&title=Aldar Properties launches USD 500 mn green sukuk\">\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=Aldar+Properties+launches+USD+500+mn+green+sukuk+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F09%2Faldar-properties-launches-usd-500-mn-green-sukuk%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\/09\/aldar-properties-launches-usd-500-mn-green-sukuk\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/424.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91827\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/09\/aldar-properties-launches-usd-500-mn-green-sukuk\/424-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/424.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"424.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/424.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/424.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91826\" class=\"content-area-description single-story post-91826 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-aldar-properties tag-debt tag-debt-watch tag-enterpriseam-uae tag-real-estate tag-sukuk 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\/.0369b3e2-ec9a-47da-8779-f6362424f9f4.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Aldar Properties has started selling USD 500 mn in 10-year green sukuk <\/strong>at 110 basis points over US treasuries, narrowed down from guidance of 140 bps on strong investor demand, <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/islamic-economy\/islamic-finance\/aldar-properties-starts-selling-10-year-green-sukuk-document-says-wby47opp\" style=\"\" rel=\"noopener\">Reuters<\/a> reported yesterday, citing an arranging bank document. The issuance attracted USD 1.9 bn in orders, and comes under its USD 2 bn trust certificates programme.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The proceeds will go towards financing, refinancing and investing in green projects<\/strong>, the newswire said, without disclosing specifics. This is Aldar Properties\u2019 second USD 500 mn green sukuk issuance, following <a target=\"_blank\" href=\"https:\/\/www.aldar.com\/en\/news-and-media\/aldar-investment-properties-issues-usd-500-million-10-year-inaugural-green-sukuk\" style=\"\" rel=\"noopener\">last year's debut<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> The Abu-Dhabi based developer had also reportedly issued a tender purchase offer for its outstanding trust certificates worth USD 500 mn, which are set to mature in September 2025, according to the report.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors: <\/strong>Our friends at HSBC, alongside Standard Chartered Bank, are global coordinators for the issuance. Our friends at Mashreq and First Abu Dhabi Bank, alongside Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates NBD Capital, and Morgan Stanely were selected as the joint lead managers and bookrunners for the issuance.<\/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\/aldar-properties\/\">Aldar Properties<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt-watch\/\">DEBT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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\/sukuk\/\">Sukuk<\/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=\"91828\" 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=\"91828\">\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\/09\/adnoc-ls-dubai-taxi-dana-gas-and-more-report-1q-earnings\/\">\r\n                            Adnoc L&amp;S, Dubai Taxi, Dana Gas, and more report 1Q earnings                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/09\/adnoc-ls-dubai-taxi-dana-gas-and-more-report-1q-earnings\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The company logged AED 3.1 bn (USD 870 mn) in revenues for the quarter, marking a 42% y-o-y increase. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The growth comes on the back of what the company says is a successful growth <\/strong><strong>strategy<\/strong>, which will see it <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/95b304d1-352b-4243-accf-ab4257d37956\/%253cmark%253eadnoc%253c%2Fmark%253e-to-float-15%2525-stake-in-logistics-subsidiary\" style=\"\" rel=\"noopener\">invest over USD 5 bn<\/a> to raise its valuation over the medium term and integrate AI in its operations, in a bid to boost \u201coperational efficiency, safety, and sustainability goals.\u201c<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Growth projections:<\/strong> Adnoc\u2019s logistics division expects 30% revenue growth over the medium term, surpassing earlier projections of \u201cmid-to-high single-digit percentage growth.\u201d Moreover, the company expects bottom line growth to be in the low 20% range in 2024, while targeting net income growth in the \u201clow-teens\u201d in the medium term. <\/p>\n<p class=\"tag-border-left\">DUBAI TAXI-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai Taxi\u2019s net income grew 15% y-o-y to AED 108 mn in 1Q 2024,<\/strong> according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/503.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Growth came despite the introduction of corporate tax during the quarter, and amid the company doubling its fleet size with the acquisition of 94 new taxi licenses. Excluding the tax impact, Dubai Taxi\u2019s bottom line increased 26% y-o-y. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company booked AED 558.4 mn in revenues,<\/strong> climbing 16% y-o-y on the back of better performance across its business segments, and boosted by more trips, longer trip lengths, and higher tariffs. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead:<\/strong> \u201cLooking ahead, we are confident in the steady growth of Dubai\u2019s population underpinned by strong economic fundamentals and its status as a leading business and leisure destination. In addition to our plans to grow further in Dubai, we see attractive opportunities to expand and broaden our services in neighboring emirates,\u201d CEO Mansoor Rahma Alfalasi said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Dubai Taxi debuted on DFM last year: <\/strong>Dubai\u2019s Roads and Transport Authority <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f6994c97-0933-4cb3-a1d6-941adcefedc3\/%253cmark%253edubai%253c%2Fmark%253e%253cmark%253e-taxi%253c%2Fmark%253e-company-shares-jump-on-dfm-debut\" style=\"\" rel=\"noopener\">listed Dubai Taxi on the DFM<\/a> in December, raising AED 1.16 bn on the back of heavy investor appetite, with orders covering the transaction 130x.<\/p>\n<p class=\"tag-border-left\">EMSTEEL- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emsteel posts lower growth, revenues in 1Q: <\/strong>Emirates Steel Arkan (Emsteel) saw its net income slump 16% y-o-y to AED 128 mn in 1Q 2024 on the back of lower exports amid heightened freight prices, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/508.pdf\" style=\"\" rel=\"noopener\">financial statements (pdf)<\/a>. The steel manufacturing firm reported an 11% y-o-y drop in revenues to AED 2.13 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Reasons behind the drop in performance: <\/strong>A decline in global steel prices on the back of China\u2019s economic slowdown and European investors\u2019 faltering confidence, coupled with the Red Sea shipping disruptions that resulted in higher freight costs, resulted in challenging conditions for its exports business,the company said in its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/507.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. <\/p>\n<p class=\"tag-border-left\">DANA GAS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sharjah\u2019s Dana Gas saw its net income fall 24% y-o-y to AED 139 mn<\/strong><strong> in 1Q 2024 <\/strong>on the back of lower oil and gas prices, it said in its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/505.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Revenues also saw a 20% y-o-y decline to AED 356 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Iraq\u2019s Khor Mor attack might impact its KM250 project: <\/strong>While the company resumed normal output levels at its Khor Mor gas field in Iraq\u2019s Kurdistan region, after <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/edition\/uae\/2024-04-30\" style=\"\" rel=\"noopener\">halting production<\/a> due to a drone attack that hit the field late in April, the company anticipates that the attack might impact the completion schedule of their KM250 project.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> The <a target=\"_blank\" href=\"https:\/\/www.danagas.com\/operations\/kri\/\" style=\"\" rel=\"noopener\">KM250 project<\/a> is a USD 806 mn expansion within the Kurdistan Gas Project, led by Dana Gas, Sharjah-based <a target=\"_blank\" href=\"https:\/\/www.crescentpetroleum.com\/\" style=\"\" rel=\"noopener\">Crescent Petroleum<\/a>, and the Kurdistan government, aimed at increasing gas production and supply in the Kurdistan region of Iraq. The project was scheduled for completion in April 2024. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cPrior to the incident, we realized profits during the quarter despite lower condensate prices and reduced output from Egypt. In the [Kurdistan region in Iraq] we posted strong production numbers as our plant continues to produce above the 500 mn standard cubic feet per day (MMscf\/d) level it had reached at the end of last year,\u201d Dana Gas CEO Richard Hall said.<\/p>\n<p class=\"tag-border-left\">ARADA DEVELOPMENTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sharjah-based and Nasdaq-listed real estate developer Arada Developments saw its net<\/strong><strong> income dip 8.5%<\/strong> y-o-y to AED 311 mn in 2023, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/525.pdf\" style=\"\" rel=\"noopener\">financials (pdf)<\/a>. The developer\u2019s revenues rose 11.5% y-o-y to AED 2.77 bn during the year. <\/p>\n<p class=\"tag-border-left\"> SUKOON INS.-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sukoon Ins.\u2019 net income rose 20% y-o-y to AED 81.7 mn in 1Q 2024<\/strong>, according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/510.pdf\" style=\"\" rel=\"noopener\">financials (pdf)<\/a>. The company\u2019s ins. revenues rose 15.8% to AED 1.23 bn during the quarter.<\/p>\n<p class=\"tag-border-left\">AMLAK FINANCE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Amlak Finance\u2019s net income rose 93% y-o-y to AED 27 mn in 1Q 2024<\/strong>, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/584.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. The financial services provider\u2019s revenue fell 9% y-o-y to AED 68 mn during the quarter. The company\u2019s operating costs stood at AED 23 mn in 1Q 2024, down 23% y-o-y.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company repaid AED 23 mn in debt to financiers during the quarter<\/strong>, and is currently in advanced negotiations with its remaining commercial financiers to exit a common terms agreement initially inked in 2014.<\/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-ls\/\">Adnoc L&amp;S<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dana-gas\/\">Dana Gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai-taxi\/\">Dubai Taxi<\/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\/emirates-steel-arkan\/\">Emirates Steel Arkan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/sukoon-ins\/\">Sukoon Ins.<\/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=\"91830\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            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data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1138.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1138.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91830\" class=\"content-area-description single-story post-91830 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam-uae tag-mohamed-bin-zayed-al-nahyan tag-moves 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\/.bd0760fe-4411-4e1e-b62d-075c7a043f75.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sheikh Mohamed appoints directors at Abu Dhabi Accountability Authority:<\/strong> President Sheikh Mohamed bin Zayed Al Nahyan appointed Mohamed Saeed Al Qubaisi as director general of the integrity and anti-corruption unit, and Wael Abdulqader Mahmoud as director general of the auditing unit at the Abu Dhabi Accountability Authority, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/13wkv6t-his-capacity-ruler-abu-dhabi-uae-president-issues\" style=\"\" rel=\"noopener\">Wam<\/a> reports.<\/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\/mohamed-bin-zayed-al-nahyan\/\">Mohamed bin Zayed Al Nahyan<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"91832\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n    <div class=\"issue-sponsor-slides-div\">\r\n        \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/43010.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.mashreq.com\/en\/uae\/neo\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/20607.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Rise every day<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/43009.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/hap.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/117160.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>From OUR FAMILY to YOURS<\/span>\r\n                <\/div>\r\n            <\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"91833\" 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=\"91833\">\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\">UAE IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/09\/more-on-uae-china-and-uae-israel-relations-cloud-seeding-deepfake-debunked\/\">\r\n                            More on UAE-China and UAE-Israel relations + cloud seeding deepfake, debunked                        <\/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\/09\/more-on-uae-china-and-uae-israel-relations-cloud-seeding-deepfake-debunked\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" 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href=\"https:\/\/x.com\/intent\/post?text=More on UAE-China and UAE-Israel relations + cloud seeding deepfake, debunked&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/09\/more-on-uae-china-and-uae-israel-relations-cloud-seeding-deepfake-debunked\/\">\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\/09\/more-on-uae-china-and-uae-israel-relations-cloud-seeding-deepfake-debunked\/&title=More on UAE-China and UAE-Israel relations + cloud seeding deepfake, debunked\">\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=More+on+UAE-China+and+UAE-Israel+relations+%2B+cloud+seeding+deepfake%2C+debunked+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F09%2Fmore-on-uae-china-and-uae-israel-relations-cloud-seeding-deepfake-debunked%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\/09\/more-on-uae-china-and-uae-israel-relations-cloud-seeding-deepfake-debunked\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/605.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91834\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/09\/more-on-uae-china-and-uae-israel-relations-cloud-seeding-deepfake-debunked\/605-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/605.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"605.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/605.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/605.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91833\" class=\"content-area-description single-story post-91833 post type-post status-publish format-standard has-post-thumbnail hentry category-uae-in-the-news tag-china tag-cloud-seeding tag-enterpriseam-uae tag-gaza tag-israel tag-uae-in-the-news wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.61ec96cf-e739-4423-a4ca-725bc7dd96e4.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a mixed bag for the UAE in the foreign press this morning<\/strong>: <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/gaza-war-caools-israels-once-red-hot-business-ties-with-uae-2024-05-08\/\" style=\"\" rel=\"noopener\">Reuters<\/a> is the latest to speculate on cooling UAE-Israel business relations amid the war in Gaza, while <a target=\"_blank\" href=\"https:\/\/www.businessinsider.com\/uae-forges-china-ties-but-wont-get-j20-stealth-fighter-2024-5\" style=\"\" rel=\"noopener\">Business Insider<\/a>&nbsp;looks into what it says is a balancing act between maintaining ties with China and the US as it looks to secure jets for its air force. Meanwhile, <a target=\"_blank\" href=\"https:\/\/factcheck.afp.com\/doc.afp.com.34QY3MA\" style=\"\" rel=\"noopener\">AFP<\/a>&nbsp;is out with a fact check to debunk a circulating video of a truck in Dubai streets that social media users claimed was conducting cloud seeding operations. The outlet spoke with the video\u2019s creator, who confirmed it was fabricated. <\/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\/cloud-seeding\/\">cloud seeding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/gaza\/\">Gaza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/uae-in-the-news\/\">UAE IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"91835\" 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=\"91835\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/09\/adnoc-secures-another-15-year-lng-supply-agreement-for-al-ruwais\/\">\r\n                            Adnoc secures another 15-year LNG supply agreement for Al Ruwais                        <\/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\/09\/adnoc-secures-another-15-year-lng-supply-agreement-for-al-ruwais\/\" 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\/09\/adnoc-secures-another-15-year-lng-supply-agreement-for-al-ruwais\/')\">\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\/09\/adnoc-secures-another-15-year-lng-supply-agreement-for-al-ruwais\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Adnoc secures another 15-year LNG supply agreement for Al Ruwais&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/09\/adnoc-secures-another-15-year-lng-supply-agreement-for-al-ruwais\/\">\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\/09\/adnoc-secures-another-15-year-lng-supply-agreement-for-al-ruwais\/&title=Adnoc secures another 15-year LNG supply agreement for Al Ruwais\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Adnoc+secures+another+15-year+LNG+supply+agreement+for+Al+Ruwais+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F09%2Fadnoc-secures-another-15-year-lng-supply-agreement-for-al-ruwais%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\/09\/adnoc-secures-another-15-year-lng-supply-agreement-for-al-ruwais\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/606.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91836\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/09\/adnoc-secures-another-15-year-lng-supply-agreement-for-al-ruwais\/606-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/606.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"606.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/606.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/606.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91835\" class=\"content-area-description single-story post-91835 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-arabian-travel-market tag-aviation tag-department-of-economy-and-tourism tag-emirates-airlines tag-energy tag-enterpriseam-uae tag-etihad-airways tag-finance tag-fintech tag-trade wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.81f37d38-8a20-4639-83a0-12696fb9fcea.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">ENERGY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Adnoc secures another 15-year LNG supply agreement for Al Ruwais: <\/strong>Abu Dhabi National Oil Company (Adnoc) signed a preliminary 15-year agreement with German energy giant Energie Baden-W\u00fcrttemberg, to supply it with 0.6 mn tons of liquefied natural gas (LNG) per year, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b31snxc-adnoc-signs-third-long-term-heads-agreement-for\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The LNG will be sourced from Adnoc\u2019s lower-carbon Ruwais LNG project in Abu Dhabi, with deliveries set to begin in 2028 once the facility is operational. A finalized agreement will be subject to receiving regulatory approval and the companies reaching a definitive sale and purchase agreement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Adnoc is yet to make a final investment decision on the Ruwais project, but a final call is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/9b82da7f-5abf-4706-9357-0842a9172fa5\" style=\"\" rel=\"noopener\">expected to be reached in 1H 2024<\/a>. With the facility set to double the firm\u2019s LNG export capacity, Adnoc will use its own funds to further expand production.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is the third long-term LNG supply agreement for the project: <\/strong>Adnoc inked similar 15-year agreements with <a target=\"_blank\" href=\"https:\/\/www.adnoc.ae\/en\/news-and-media\/press-releases\/2023\/adnoc-signs-first-long-term-lng-heads-of-agreement-from-ruwais-low-carbon-lng-project\" style=\"\" rel=\"noopener\">China's ENN Natural Gas<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/39b1c076-be9f-416a-91c1-cb72267526cf\/adnoc-secures-another-lng-supply-agreement-for-al-ruwais\" style=\"\" rel=\"noopener\">SEFE Marketing &amp; Trading Singapore<\/a>, a subsidiary of Germany\u2019s state-owned energy firm Securing Energy for Europe, to deliver to each some 1 mn tons of LNG annually from the new plant.<\/p>\n<p class=\"tag-border-left\">TRADE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Ramping up trade with Uzbekistan: <\/strong>The Dubai Integrated Economic Zones Authority (DIEZ) inked an agreement with Uzbekistan\u2019s Investment, Industry, and Trade Ministry to increase trade, with a focus on tech and sustainability, according to the <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2024\/may\/08-05\/diez-and-the-ministry-of-investment\" style=\"\" rel=\"noopener\">Dubai Media Office<\/a>. The two sides also agreed to establish a joint digital platform for cooperation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>The UAE and Uzbekistan also recently inked agreements across sectors like tech and AI, trade, and wastewater treatment, including an MoU to co-invest in digital infrastructure in Uzbekistan, as part of the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/365e4f19-0034-4fd3-9bd1-9c4bae255290\/uae,-uzbekistan-ink-agreements-to-boost-economic-cooperation\" style=\"\" rel=\"noopener\">latest session of their joint economic committee<\/a>. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- More trade with Korea, too:<\/strong> Dubai Chambers inked an MoU with Invest Seoul to ramp up investment and trade between Dubai and Seoul, focusing on trade missions, conferences, and business events, according to the <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2024\/may\/08-05\/dubai-chambers-and-invest-seoul\" style=\"\" rel=\"noopener\">Dubai Media Office<\/a>. The chamber also signed an agreement with the Korea Federation of SMEs to promote partnerships between companies in Dubai and South Korea.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fast fact: <\/strong>Non-oil bilateral trade between Dubai and South Korea reached over AED 16.5 bn in 2023. Some 289 South Korean companies are currently registered as active members of the Dubai Chamber of Commerce.<\/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> #1- Singapore-based payments company Nium and Emirates NBD are partnering <\/strong><strong>to <\/strong><strong>streamline cross-border payments in the UAE<\/strong>, particularly remittances, with Emirates NBD using Nium\u2019s platform and global network, a <a target=\"_blank\" href=\"https:\/\/www.prnewswire.com\/news-releases\/emirates-nbd-and-nium-join-forces-to-transform-global-cross-border-payments-in-the-middle-east-302137380.html\" style=\"\" rel=\"noopener\">press release<\/a> reads.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- EIF pushes for more financial literacy: <\/strong>The Emirates Institute of Finance (EIF) inked five MoUs with local and international educational institutions and universities, in a bid to accelerate skills across finance, banking, and ins. sectors, and to ramp up financial infrastructure, <a target=\"_blank\" href=\"https:\/\/www.albayan.ae\/economy\/uae\/2024-05-08-1.4868394\" style=\"\" rel=\"noopener\">Al Bayan<\/a> reports. The agreements include partnerships with the Anwar Gargash Diplomatic Academy and the University of Birmingham Dubai to integrate financial training programs into the curriculum and promote expertise and resource swapping. EIF also signed agreements with Harvard University and MIT\u2019s e-learning platform EdX, the Taiwan Academy of Banking and Finance, and the CFA Society Emirates.<\/p>\n<p class=\"tag-border-left\">FINTECH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Liv to tokenize real-world asset investing: <\/strong>Emirates NBD\u2019s digital bank Liv inked an MoU with B2B alternative asset solutions provider <a target=\"_blank\" href=\"https:\/\/www.ctrl-alt.co\/\" style=\"\" rel=\"noopener\">Ctrl Alt<\/a> to explore infrastructure solutions for tokenizing real-world assets, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b317923-liv-signs-mou-with-ctrl-alt-explore-tokenisation\" style=\"\" rel=\"noopener\">Wam<\/a> reports. Asset tokenization is projected to reach USD 16.1 tn in value by 2030, Emirates NBD Group Head of Retail Banking and Wealth Management Marwan Hadi said, citing a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/588.pdf\" style=\"\" rel=\"noopener\">report<\/a> by the Boston Consulting Group.<\/p>\n<p class=\"tag-border-left\">VENTURE CAPITAL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hacken to work on blockchain compliance for Klumi: <\/strong>Abu Dhabi-based blockchain venture capital firm Klumi signed an agreement with blockchain security auditor Hacken to ensure the security of all Klumi\u2019s blockchain and investment activity within the Abu Dhabi Global Market (ADGM), according to a <a target=\"_blank\" href=\"https:\/\/www.klumiventures.com\/post\/klumi-ventures-hacken-forge-strategic-alliance-to-expand-the-web3-ecosystem-in-uae\" style=\"\" rel=\"noopener\">press release<\/a>. Under the partnership, Hacken will run its monitoring technologies across Klumi Ventures' portfolio companies, to conduct \u201creal-time security assessments and ensure continuous compliance with ADGM\u2019s standards.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER-<\/strong> Klumi Ventures obtained a license to operate in ADGM <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/0f9f788a-6e58-4f13-b171-ca963782f2c3\/\" style=\"\" rel=\"noopener\">last month<\/a>, allowing Klumi to launch two funds, a USD 100 mn fund for investing in decentralized sectors, and a USD 15 mn qualified investors fund for pre-seed and seed investments in early-stage Web3 startups.<\/p>\n<p class=\"tag-border-left\">SUSTAINABILITY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Abu Dhabi Dark Sky Policy was introduced to protect the visual appeal of the <\/strong><strong>night sky and promote sustainability in Abu Dhabi<\/strong>, according to a Abu Dhabi Media Office <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/infrastructure\/department-of-municipalities-and-transport-launches-abu-dhabi-dark-sky-policy\/\" style=\"\" rel=\"noopener\">statement<\/a>. The initiative is dedicated to countering light pollution by promoting responsible lighting practices. It is in line with global efforts led by the International Dark Sky Association, focusing on sustainable lighting systems, environmental conservation, wildlife protection, scientific exploration, public health, and sustainable progress.<\/p>\n<p class=\"tag-border-left\">TRANSPORT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The pilot phase of the Cabby app for taxi drivers in Ajman is now underway<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.khaleejtimes.com\/uae\/transport\/uae-cabby-app-launched-for-taxi-drivers-in-ajman\" style=\"\" rel=\"noopener\">Khaleej Times<\/a> reports. The app aims to up the efficiency of drivers affiliated with franchise companies in the emirate through features like monitoring trip earnings, outstanding payments, and performance indicators. <\/p>\n<p class=\"tag-border-left\">TOURISM-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The Dubai Department of Economy and Tourism (DET) and Emirates have partnered&nbsp;<\/strong>to enhance Dubai's reputation as a trade, tourism, and investment hub through joint initiatives, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b31soki-dubai-department-economy-and-tourism-emirates-sign\" style=\"\" rel=\"noopener\">Wam<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Emirates and MSC Cruises extended their collaboration for an additional two <\/strong><strong>seasons<\/strong>, according to a Dubai Media Office <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2024\/may\/08-05\/emirates-and-msc-cruises\" style=\"\" rel=\"noopener\">statement<\/a>. Over the next two years, customers can reserve a Fly&amp;Cruise vacation bundle with MSC Cruises, encompassing round-trip Emirates flights from 21 airports spanning Europe and South America.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Etihad, JetBlue expand partnership with loyalty benefits: <\/strong>Abu Dhabi hub carrier Etihad Airways and US airline JetBlue introduced loyalty benefits to their codeshare partnership, according to a <a target=\"_blank\" href=\"https:\/\/www.etihad.com\/en\/news\/jetblue-and-etihad-airways-announce-loyalty-partnership-as-part-of-codeshare-agreement\" style=\"\" rel=\"noopener\">statement<\/a> by Etihad. The benefits \u2014 which logged into effect yesterday \u2014 allow members of JetBlue\u2019s TrueBlue loyalty program and Etihad Guest to earn and redeem rewards when flying with either airline. Redemption options were also expanded as part of the agreement, with Etihad Guest miles redeemable for flights, hotel stays, and reward cards.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fast fact: <\/strong>Etihad and JetBlue\u2019s partnership dates back over a decade, and grids Boston and New York to over 70 destinations in Etihad\u2019s network and 40 destinations in JetBlue\u2019s network within the Americas.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/arabian-travel-market\/\">Arabian Travel Market<\/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\/department-of-economy-and-tourism\/\">Department of Economy and Tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/emirates-airlines\/\">Emirates Airlines<\/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\/etihad-airways\/\">Etihad Airways<\/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\/fintech\/\">fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"91837\" 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=\"91837\">\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\/09\/tim-apple-wont-be-here-forever\/\">\r\n                            On who will lead Apple after Tim cook, slumping pandemic winners, and real estate jitters                        <\/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\/09\/tim-apple-wont-be-here-forever\/\" 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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Their stock prices are tanking. <\/strong>Shares in Tesla, Zoom, Byd, Pinterest, Pinterest and others who boomed during the early days of covid-19 are now struggling, according to <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/8faaafb4-e170-48ce-8957-9f93c0f41c4a\" style=\"\" rel=\"noopener\">Financial Times<\/a> reporting based on data from Bloomberg and S&amp;P Global. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The 50 shares that performed the best in 2020 have lost about a third of their value <\/strong>since the start of 2021, shedding the equivalent of about USD 1.5 tn in market cap. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Tim Cook won\u2019t be at Apple forever. Is John Ternus emerging as his successor? <\/strong>That\u2019s the claim from <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-08\/apple-s-next-ceo-list-of-aapl-insiders-who-could-succeed-tim-cook\" style=\"\" rel=\"noopener\">Bloomberg\u2019s Mark Gurman<\/a>, a longtime Apple watcher who was the only pundit we can think of who correctly said the company would use the M4 chip in the iPad Pros it announced earlier this week. The Apple hardware engineering boss is well-liked and respected and is a more likely candidate even than software Craig Federighi. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Turkish central bankers hope that a projected 36% inflation rate by year\u2019s end will <\/strong><strong>attract foreign interest <\/strong>in its local currency debt. Pundits think this month will see inflation there peak at about 70%, suggesting that real interest rates are coming in at something around -20%. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-08\/turkey-s-inflation-math-is-no-longer-a-dealbreaker-for-investors\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Jitters about the global real estate market are still in the spotlight<\/strong>, with the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/884cc30c-5326-4db5-ba0c-bf9f1572234f\" style=\"\" rel=\"noopener\">Financial<\/a><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/884cc30c-5326-4db5-ba0c-bf9f1572234f\" style=\"\" rel=\"noopener\">Times<\/a> taking note of rents falling in Hong Kong amid softening demand for both corporate and residential real estate. And high-profile US real estate investor Barry Sternlicht warns that he expects as much as one small regional US bank to fail every week as property owners struggle with high interest rates, inflation, and vacant properties, writes <a target=\"_blank\" href=\"https:\/\/fortune.com\/2024\/05\/08\/billionaire-real-estate-investor-barry-sternlicht-one-bank-failure-each-week\/\" style=\"\" rel=\"noopener\">Fortune<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND speaking of interest rates: Sweden cut rates <\/strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/cd9066ae-0891-4402-b47a-35d41e18b8e6\" style=\"\" rel=\"noopener\">for the first time in eight years<\/a> \u201cas European monetary policymakers diverge from the US to support their economies even if it comes at the expense of their currencies.\u201d <\/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 truly mixed this morning<\/strong>, with the ASX 200 and Kospi each down less than 1% and the Nikkei, Hang Seng, and Shanghai Composite all up around 0.2% \u2014 with no obvious driver in sight backing this morning\u2019s performance. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US equities futures were flat overnight after the Dow turned in its sixth straight day of <\/strong><strong>gains<\/strong>, while European stock futures point to a weak (if positive) open for markets across the continent.<\/p>\n<p><a target=\"_blank\" id=\"t.51994e995d2936c59a2b63bc5d0cd45e9ed6c69a\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p>\n<div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,177<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.2% (YTD: -2.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,193<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.9% (YTD: +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>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\">3,601<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.5% (YTD: -6.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : AED<\/strong><strong> CBUAE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 3.67<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 3.67<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EIBOR<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.1% o\/n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.3% 1 yr<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/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\">12,460<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.8% (YTD: +4.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">25,989<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.7% (YTD: +4.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,188<\/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: +8.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,354<\/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: +8.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,038<\/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: +11.4%)<\/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>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 83.77<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex)<\/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 2.19<\/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\">-0.9%<\/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>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 2,322.30<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.9%<\/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 61,518.20<\/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\">-2.3% (YTD: +45.5%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ADX rose 1.2% yesterday<\/strong> on turnover of AED 1.1 bn. The index is down 2.6% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>e&amp; (+4.5%), Gulf Cement Co. (+4.2%) and Ooredoo (+4.0%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Aram Group (-8.5%), Rapco Investment (-8.0%) and Abu Dhabi National Takaful (-6.0%). <\/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 0.9% on turnover of AED 349.0 mn. Meanwhile Nasdaq Dubai closed up 1.5%.<\/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\/apple\/\">Apple<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/pandemic\/\">pandemic<\/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\/real-estate\/\">Real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"91839\" 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=\"91839\">\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\/09\/trade-minister-meets-with-global-trade-partners-at-aim-congress\/\">\r\n                            Trade minister meets with global trade partners at AIM Congress                        <\/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\/09\/trade-minister-meets-with-global-trade-partners-at-aim-congress\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n  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href=\"https:\/\/api.whatsapp.com\/send?text=Trade+minister+meets+with+global+trade+partners+at+AIM+Congress+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F09%2Ftrade-minister-meets-with-global-trade-partners-at-aim-congress%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\/09\/trade-minister-meets-with-global-trade-partners-at-aim-congress\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/603.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"91840\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/09\/trade-minister-meets-with-global-trade-partners-at-aim-congress\/603-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/603.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"603.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/603.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/603.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91839\" class=\"content-area-description single-story post-91839 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-aim-congress tag-diplomacy tag-enterpriseam-uae tag-trade tag-uae-jordan-relations 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\/.da094b52-ed4d-4dde-860c-0bc8318c6426.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Trade Minister Thani bin Ahmed Al Zeyoudi met with several global trade partners on the <\/strong><strong>first day of the Annual Investment Meeting (AIM) Congress<\/strong>, Al Zeyoudi said in an <a target=\"_blank\" href=\"https:\/\/twitter.com\/ThaniAlZeyoudi\/status\/1787908137380360573\" style=\"\" rel=\"noopener\">X thread<\/a>. <\/p>\n<ul>\n<li>Al Zeyoudi met <strong>Madagascar President Andry Rajoelina<\/strong> to discuss investment priorities and enhance capital exchange;<\/li>\n<li>He also held a meeting with <strong>Bangladeshi Finance Minister Abul Hassan Mahmood Ali<\/strong>, <strong>Guatemalan Economy Minister Antonio Romero<\/strong>, and <strong>Guatemalan Foreign Minister Julio Orozco<\/strong> to explore key development prospects in Central America and Asia;<\/li>\n<li>and met with <strong>Vice Chairman of South Korea's LB Investment<\/strong>, Brian Bonchum Koo, to discuss the investment company\u2019s startup portfolio, and solutions under its USD 1.2 tn assets under management.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE + Jordan partner on maritime sector:<\/strong> The UAE and Jordan also signed an MoU \u201cto drive cooperation, capacity building, and knowledge exchange and enhance mutual recognition of seafarers\u2019 certificates of competence,\u201d with a focus on exploring prospective areas of cooperation and capacity-building in the maritime sector, according to a Foreign Ministry <a target=\"_blank\" href=\"https:\/\/twitter.com\/MOEIUAE\/status\/1788091923518943735\" style=\"\" rel=\"noopener\">post on X<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PLUS- <\/strong><strong>The UAE strongly condemned Israel\u2019s invasion of Rafah<\/strong> and the seizure of the border crossing, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b31so5v-uae-strongly-condemns-israeli-forces-invasion-and\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The Foreign Ministry also condemned any forced displacement of Palestinians, calling for an \u201cimmediate effort\u201d to reach a ceasefire.<\/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\/aim-congress\/\">aim congress<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/uae-jordan-relations\/\">UAE-Jordan relations<\/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=\"91841\" 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\/09\/91841-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-91841\" class=\"content-area-description single-story post-91841 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;\">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>6-9 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>12-16 May (Sunday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/euff.ae\/\" style=\"\">European Film Festival<\/a><\/span><span>, Cultural Foundation, Abu <\/span><span>Dhabi<\/span><span style=\"font-weight:400;\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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\">AUGUST<\/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;\">21-22 August (Wednesday-Thursday): Dubai Business Forum in Beijing, China.<\/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>Mubadala\u2019s Cepsa divests energy assets | Aldar issues USD 500 mn green sukuk | USD 30 bn in FDI this year?<\/p>\n","protected":false},"featured_media":91818,"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-91817","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"0366c2c2-5191-4125-b274-1bdc8d1312d6","teaser":"Mubadala\u2019s Cepsa divests energy assets | Aldar issues USD 500 mn green sukuk | USD 30 bn in FDI this 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