{"id":92006,"date":"2024-05-15T00:00:00","date_gmt":"2024-05-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=92006"},"modified":"2025-12-15T00:20:18","modified_gmt":"2025-12-15T00:20:18","slug":"adia-eyes-stake-in-indian-snack-foods-maker","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/adia-eyes-stake-in-indian-snack-foods-maker\/","title":{"rendered":"ADIA eyes stake in Indian snack foods maker"},"content":{"rendered":"<section id=\"92008\" 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=\"92008\">\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\/15\/dubai-ranks-first-in-the-world-for-number-of-fdi-projects-in-2023\/\">\r\n                            THIS MORNING: Dubai ranks first in the world for number of FDI projects in 2023 + new quality of life strategy approved                        <\/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\/15\/dubai-ranks-first-in-the-world-for-number-of-fdi-projects-in-2023\/\" target=\"_blank\">\n                 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1129.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92009\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/15\/dubai-ranks-first-in-the-world-for-number-of-fdi-projects-in-2023\/1129-jpeg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1129.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1129.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1129.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1129.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92008\" class=\"content-area-description single-story post-92008 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-dnata tag-dubai tag-economy tag-enterpriseam-uae tag-goldman-sachs tag-real-estate tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.982b6524-06de-4757-a081-f1603cf6ab3f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Good morning, friends. <\/strong><span style=\"background-color: transparent;\">It\u2019s another busy day in our corner of the world as earnings and conference season brings us plenty of news.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s no single big story here at home, but two M&amp;A stories are vying for your attention:<\/strong> The Abu Dhabi Investment Authority is reportedly in talks to acquire a 75% stake as part of a Blackstone-led consortium, while Property Finder has raised USD 90 mn to buy out one of its shareholders.<\/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\"><a id=\"wwtt1\"><\/a> <strong>#1- Dubai ranked first in terms of greenfield FDI projects for the third consecutive year in <\/strong><strong>2023<\/strong>, according to fDI market data picked up by the <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2024\/may\/14-05\/dubai-ranked-no-1-globally\" style=\"\" rel=\"noopener\">Dubai Media Office<\/a>. The emirate saw some 1k greenfield projects launched during the year, with AED 39.26 bn in capital flows \u2014 the fifth highest city globally. It also saw a total of 1.6k FDI projects \u2014 a 39% y-o-y increase \u2014 with top sectors for FDI including financial services, business services, consumer products, and software and IT services.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By country<\/strong>: The top five countries pouring FDI flows into Dubai were Canada (26.5%), the US (17.5%), Saudi Arabia (8.9%), UK (8.2%), and India (5.5%).<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The Finance Ministry has collected AED 173.6 bn in value-added tax (VAT) and excise <\/strong><strong>tax <\/strong>since the taxes were levied until December last year, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b35d9pt-vat-excise-tax-revenues-reach-aed1736-billion-mof\" style=\"\" rel=\"noopener\">Wam<\/a> reports, citing statements from Finance Ministry Undersecretary Younis Haji Al Khouri. VAT collected at the state level amounted to AED 159 bn, while at the federal level they reached some AED 48 bn since implementation. Meanwhile, revenue from excise tax at the state level amounted to AED 14 bn, while the federal government collected AED 5.2 bn until the end of FY 2023. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The excise tax was introduced in the UAE in 2017, while the 5% VAT was introduced in 2018. <\/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=\"wwtt3\"><\/a> <strong>#3- The UAE\u2019s property sector boasts a pipeline of projects under construction valued at <\/strong><strong>USD 590 bn,<\/strong> a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/research-and-studies\/uaes-resilient-construction-sector-poised-for-growth-momentum-with-high-value-pipeline-of-590bln-in-2024-jll-x8z3ipe7\" style=\"\" rel=\"noopener\">press release<\/a> reads, citing the latest report from real estate consultancy JLL. Mixed-use projects account for 39% of the projects, with a total value of USD 232 bn, while residential developments make up 21% of the pipeline, amounting to USD 125 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The country accounts for 15% of the estimated USD 3.9 tn in projects under construction<\/strong> in the region, according to JLL. <\/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=\"wwtt2\"><\/a> <strong>#1- Dubai has approved a new quality of life strategy aimed at improving social infrastructure and turning the emirate into the \u201cbest city to live in,\u201d <\/strong>Dubai\u2019s Crown Prince Sheikh Hamdan bin Mohammed said in an <a target=\"_blank\" href=\"https:\/\/twitter.com\/HamdanMohammed\/status\/1790400195399737797?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1790400195399737797%7Ctwgr%5E35a3c269e7bffd9ea6ba05f9fac62f03686995e0%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.thenationalnews.com%2Fnews%2Fuae%2F2024%2F05%2F14%2Fsheikh-hamdan-announces-new-dubai-quality-of-life-strategy%2F\" style=\"\" rel=\"noopener\">X post<\/a>. The strategy involves developing over 200 parks, expanding cycling tracks on beaches by 300%, extending the length of night swimming beaches by 60%, designating new beaches for women, and plans to develop Dubai's outskirts. It will also involve expanding greenery and developing marine and natural wildlife reserves.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The private sector will be in on it: <\/strong>100 projects \u2014 out of a total of 200 \u2014 will be up for grabs for the private sector, according to <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b35daab-hamdan-bin-mohammed-approves-dubai-quality-life\" style=\"\" rel=\"noopener\">Wam<\/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- dnata to expand global footprint:<\/strong> Dubai-based air services provider dnata is planning several merger and acquisition transactions globally, the Emirates subsidiary CEO Steve Allen told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/emirates-groups-airport-travel-unit-dnata-looking-ma-deals-2024-05-14\/\" style=\"\" rel=\"noopener\">Reuters<\/a>, revealing that dnata has \u201cplenty [of transactions] at the end of the pipeline\u201d and is currently in talks with \u201c40 different companies.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Next destination, Brazil?<\/strong> Allen mentioned that dnata sees South America as a \u201chuge growth market opportunity\u201d for its growth, naming Brazil as one of those high-growth markets. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>UAE business giants are ramping up their presence in Brazil. Sovereign wealth fund Mubadala\u2019s investment arm Mubadala Capital earmarked <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/a7a9f8fa-4dab-4e70-b0e7-40ee8ce0f191\/mubadala-capital-plans-more-than-usd-13.5-bn-in-investments-in%253cmark%253e-brazil%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">USD 13.5 bn<\/a> investments in biofuels in Brazil, while technology and defense group Edge recently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/4538224b-4d74-4319-9425-ce18b2d0969a\/edge-acquires-51%2525-stake-in-condor,-strengthening-position-in-non-lethal-technologies-market\" style=\"\" rel=\"noopener\">acquired a 51% stake<\/a> in Brazil-based Condor.<\/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- Goldman Sachs plans to lure more international clients to invest in the Gulf,<\/strong> by launching investment strategies allowing the bank and its clients to deploy capital in the regions\u2019 stock markets, Goldman\u2019s global head of asset and wealth management Marc Nachmann told Bloomberg <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-14\/goldman-looks-to-entice-wealthy-clients-to-plow-cash-across-gulf\" style=\"\" rel=\"noopener\">(watch, runtime, 1:12)<\/a> in an interview during the Qatar Economic Forum. This move comes as Mena-based companies listed on the MSCI Emerging Markets Index are anticipated to grow from 7% to 10%, which should convince more international investors to \u201cpay more attention to the region,\u201d Nachmann said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4-<\/strong><strong>Trouble between Mubadala and Turkish startup Getir?<\/strong> Tensions between Turkish last-mile delivery startup <a target=\"_blank\" href=\"https:\/\/getir.com\/us\/\" style=\"\" rel=\"noopener\">Getir<\/a> \u2019s founders and Mubadala \u2014 its largest investor \u2014 are rising after a member of its top management, Chief Strategy Officer Derya Erdemli, was dismissed by the startup\u2019s management, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-13\/management-feud-at-delivery-app-getir-turns-bitter-after-exits\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing unnamed insider sources. Erdemli had been advising the startup to downsize operations, in line with its investors\u2019 advice to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/0578a16a-d7cd-43ef-b837-ae47c32564da\/dubai-mangroves-100-mn-trees-initiative-plans-revealed\" style=\"\" rel=\"noopener\">shut down foreign operations<\/a> and focus on Turkey. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>Getir\u2019s valuation crashed to USD 2.5 bn in September, falling steeply from USD 11.8 bn in 2022, the outlet said. This was due to the combination of easing of pandemic regulations and lockdown, as well as spiraling costs associated with acquisitions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Mubadala, along with other investors, provided Getir with additional funding \u2014 which Bloomberg says came in at about USD 200 mn \u2014 to Getir in late April. The investment was split into tranches, with USD 90 mn of the total already paid out, and full delivery contingent upon Getir meeting set targets, including changes to the board and a reshuffle of senior management, sources told Bloomberg last month.<\/p>\n<p class=\"tag-border-left\"> HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The Abu Dhabi Global Healthcare Week is on its final day <\/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>#2- US Energy Secretary Jennifer Granholm <\/strong><strong>is in our corner of the world for climate talks, as well as to participate <\/strong>in a meeting of the Net-Zero Producers Forum, which aims to reduce emissions and advance clean energy initiatives. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Industry and Advanced Technology minister Sultan Al Jaber met with Granholm <\/strong><strong>yesterday <\/strong>to discuss boosting bilateral relations through the <a target=\"_blank\" href=\"https:\/\/www.iea.org\/policies\/17310-pace-uae-us-clean-energy-strategic-partnership\" style=\"\" rel=\"noopener\">US-UAE Partnership for Accelerating Clean Energy (PACE)<\/a>, which aims to deploy USD 100 bn and 100 GW of clean energy by 2036, state news agency <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b35da4h-sultan-jaber-receives-energy-secretary-abu-dhabi\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The two officials also discussed the importance of achieving energy security and advancing AI technology in the sector. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s the Net-Zero Producers Forum?<\/strong> Launched in 2021, it\u2019s part of a bid to <a target=\"_blank\" href=\"https:\/\/www.saudigazette.com.sa\/article\/605928\" style=\"\" rel=\"noopener\">boost cooperation<\/a> between some of the biggest global oil producers on methane abatement, carbon capture, and use and storage technologies. Founding members include Saudi Arabia, the US, Canada, Norway, and Qatar. The UAE joined the group in 2022. NPF members account for 45% of global oil production and 40% of natural gas production, according to the <a target=\"_blank\" href=\"https:\/\/www.energy.gov\/articles\/united-arab-emirates-joins-sixth-member-net-zero-producers-forum\" style=\"\" rel=\"noopener\">US Energy Department website<\/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>#3- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.theairportshow.com\/\" style=\"\" rel=\"noopener\">The Airport Show<\/a><\/strong><strong> is on its second day today<\/strong>, and will wrap tomorrow at the Dubai World Trade Center. The event brings together airport suppliers, airport service providers, aviation executives, and regional decision makers to explore current innovations and new technologies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4-<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.terrapinn.com\/exhibition\/seamless-middle-east\/index.stm\" style=\"\" rel=\"noopener\">Seamless Middle East<\/a><\/strong><strong> is also on its second day at the&nbsp;<\/strong><strong>Dubai World Trade <\/strong><strong>Center<\/strong>, and runs until tomorrow. The three-day event includes a conference welcoming over 500 speakers to cover the latest trends, market disruptors, and technologies in digital commerce, and a multi-brand exhibition hosting over 700 exhibitors in the digital commerce industry. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- <\/strong><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> kicks off today and will wrap on Thursday, 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>#6- The Food Innovation Conference 2024 wraps up today at Jumeirah Emirates <\/strong><strong>Tower<\/strong>, Dubai. Organized by Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI) alongside the World Economic Forum, the conference brought together around 150 global food experts to discuss sustainable food solutions, state news agency <a target=\"_blank\" href=\"https:\/\/wam.ae\/ml\/article\/b34rur0-food-innovation-conference-2024-kicks-off-dubai\" style=\"\" rel=\"noopener\">Wam<\/a> reports. <\/p>\n<p class=\"tag-border-left\"> HAPPENING THIS WEEK-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>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 kick off tomorrow, and will run until Sunday, 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>***<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> 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\"><strong>Want to subscribe? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> 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\">JOIN US IN CAIRO? <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s top executives and business owners will gather in Cairo on Wednesday, 5 June <\/strong>for the Enterprise Optimism Forum.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the menu: <\/strong>Blunt talk about a future that sees Saudi Arabia, Egypt, and the UAE at the heart of a more vital Middle East economy. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The goal: <\/strong>To provide an early, actionable roadmap for those who are \u201clong Egypt.\u201d<\/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:\/\/forum.enterprise.news\/\" style=\"\" rel=\"noopener\">** Interested in attending? Tap or click here to let us know. **<\/a><\/strong> Seating is limited and available on an invitation-only basis. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/forum.enterprise.news\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/227.jpg?ssl=1\"><\/a> <\/p>\n<p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a mixed bag on global front pages this morning <\/strong>as a number of stories captivate the attention of the business pages. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The US has imposed a series of new tariffs on Chinese imports<\/strong>, including a 100% tariff on Chinese EVs as part of \u201c <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/business\/article\/2024\/may\/14\/joe-biden-tariff-chinese-made-electric-vehicles\" style=\"\" rel=\"noopener\">a package of measures designed to protect US manufacturers from cheap imports<\/a>.\u201d Also on the list: semiconductors. We have the details in this morning\u2019s Planet Finance, below. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>YOUR DAILY DOSE OF AI NEWS- Google introduced its AI assistant <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/fc2f9c44-76ad-4f00-8f1a-e15d268660f2\" style=\"\" rel=\"noopener\">Project Astra<\/a><\/strong><strong>. <\/strong>Think of Project Astra as your personal assistant who can help you find the keys you misplaced or explain a complicated piece of code. It will be powered by an upgraded version of Google\u2019s Gemini and eventually be available across all of Google\u2019s software. Like OpenAI\u2019s Scarlett Johansson-sounding model yesterday, <strong>Project Astra can interact with users through text, audio, and video.<\/strong> The Verge\u2019s David Pierce has a solid rundown <a target=\"_blank\" href=\"https:\/\/www.theverge.com\/2024\/5\/14\/24156296\/google-ai-gemini-astra-assistant-live-io\" style=\"\" rel=\"noopener\">here<\/a> if you want more. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Google is also going to start to roll out AI search summaries <\/strong>to its users, starting in the US.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- OpenAI cofounder\u2019s and chief scientist is <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/05\/14\/openai-co-founder-ilya-sutskever-says-he-will-leave-the-startup.html\" style=\"\" rel=\"noopener\">out<\/a><\/strong><strong>. <\/strong>Ilya Sutskever leaves six months after he participated in a palace coup that saw CEO Sam Altman briefly kicked out of the hot AI startup.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- THE MEME STOCK FRENZY CONTINUES <\/strong>as Roaring Kitty and his army of winged monkeys pushed Reddit shares up 7% to USD 62.34 during trading yesterday. It\u2019s reddit\u2019s second-highest close since it made its market debut. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want the backstory? <\/strong>Check out <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eba1a3ca-e0f0-4b43-8658-89d86cb25f25\/roaring-kitty-is-back%25e2%2580%25a6\" style=\"\" rel=\"noopener\">yesterday\u2019s Planet Finance<\/a>, where we dove into the return of Roaring Kitty and its impact on meme stocks. The Wall Street Journal is not along in wondering whether <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/finance\/stocks\/meme-stocks-jump-gamestop-amc-keith-gill-returns-c46f76c8?mod=hp_lead_pos7\" style=\"\" rel=\"noopener\">Kitty coming \u201cout of hibernation\u201d<\/a> means meme stocks are a thing again \u2014 or if this is just a blip.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Mining group Anglo American is planning to <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/why-the-world-has-gone-cuckoo-for-copper-ef8c385a\" style=\"\" rel=\"noopener\">break up<\/a><\/strong><strong> after rejecting second BHP <\/strong><strong>offer<\/strong> in a bid to retain control of its most profitable companies, including its copper mining outfit \u2014 a smart move given the current <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/f7487018-726e-4854-8165-dda1612e893f\" style=\"\" rel=\"noopener\">copper boom<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FROM THE REGION- Saudi officials are worried about their economy overheating. <\/strong>Saudi Finance Minister Mohamed Al Jadaan <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-14\/saudi-economic-overheating-fears-emerge-as-constraint-on-plans?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">thinks<\/a> the country needs to pace itself when it comes to all these massive investments. The Saudi economy needs to \u201ccatch up\u201d with the projects being implemented or else it risks \u201coverheating\u201d and \u201cleakages.\u201d<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p class=\"tag-border-left\"> CIRCLE YOUR CALENDAR- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The<\/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\"><\/a><\/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 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 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\"><\/a><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>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\"><\/a><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>The Mohammed Bin Rashid Space Center is set to host Geo-Spatial Week from <\/strong><strong>6-11 April 2025 in Dubai<\/strong> with the International Society for Photogrammetry and Remote Sensing, according to a <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2024\/may\/09-05\/mbrsc-set-to-host-geo-spatial\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2024\/may\/09-05\/mbrsc-set-to-host-geo-spatial\" style=\"\" rel=\"noopener\">Dubai Media Office statement<\/a>. The week-long event will welcome experts in photogrammetry, remote sensing, and spatial sciences.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dnata\/\">Dnata<\/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\/economy\/\">Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/goldman-sachs\/\">Goldman Sachs<\/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\/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=\"92010\" 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=\"92010\">\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\/15\/adia-eyes-an-acquisition-of-indian-based-haldirams-snacks-business-report\/\">\r\n                            ADIA is eyeing an acquisition of Indian-based Haldiram\u2019s snacks business. PLUS: CCL Industries buys out Albwardy JV                        <\/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\/15\/adia-eyes-an-acquisition-of-indian-based-haldirams-snacks-business-report\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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href=\"https:\/\/api.whatsapp.com\/send?text=ADIA+eyes+an+acquisition+of+Indian-based+Haldiram%E2%80%99s+snacks+business+%E2%80%93report+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F15%2Fadia-eyes-an-acquisition-of-indian-based-haldirams-snacks-business-report%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\/15\/adia-eyes-an-acquisition-of-indian-based-haldirams-snacks-business-report\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1121.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92011\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/15\/adia-eyes-an-acquisition-of-indian-based-haldirams-snacks-business-report\/1121-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1121.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1121.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1121.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1121.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92010\" class=\"content-area-description single-story post-92010 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-abu-dhabi-investment-authority tag-enterpriseam-uae tag-india tag-ma-watch tag-pacman-ccl 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\/.982b6524-06de-4757-a081-f1603cf6ab3f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Abu Dhabi Investment Authority (ADIA) is reportedly in discussions <\/strong><strong>with <\/strong><strong>Indian restaurant company <\/strong><strong><a target=\"_blank\" href=\"https:\/\/haldiram.com\/\" style=\"\" rel=\"noopener\">Haldiram<\/a><\/strong><strong> over a potential takeover of its snacks business<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/blackstone-led-consortium-eyes-snacks-business-indias-haldirams-sources-say-2024-05-14\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing two undisclosed sources with direct knowledge of the matter. ADIA is engaging in talks via a consortium led by US alternative investment management firm Blackstone, and which also includes Singaporean sovereign wealth fund GIC.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The Blackstone-led consortium has reportedly submitted a non-binding bid for a 75% majority stake in the Indian snacks business, with the potential agreement valuing the company at up to USD 8.5 bn. However, the final stake percentage and valuation are not yet conclusive, with talks still at an early stage, the sources added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>Haldiram was considering giving up a majority stake in both its snacks and restaurant businesses in <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/indias-tata-seeks-control-haldirams-snack-maker-wants-10-bln-valuation-sources-2023-09-06\/\" style=\"\" rel=\"noopener\">September 2023<\/a> to Indian IT company Tata Group for USD 10 bn. Negotiations with the local bidder have since ceased, with no active agreements in progress, Reuters reports, citing a separate, unnamed source.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADIA and GIC have investment ties: <\/strong>Talks of a consortium between the Abu Dhabi and Singaporean wealth funds and private equity firms KKR, Permira, and Hellman and Friedman were in play <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/c182a252-d3e4-456a-a031-b127a8bf90b2\/this-morning:-stormy-weather-ahead-%2B-agility-global-hits-the-adx-today\" style=\"\" rel=\"noopener\">earlier this month<\/a> for the purchase of a stake in international school operator Nord Anglia.<\/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>American-Canadian packaging and labeling firm CCL Industries has acquired <\/strong><strong>100% of its joint venture with the UAE\u2019s Albwardy Family, <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.albwardy.com\/business-portfolio\/industrial-engineering\/pacman-ccl\" style=\"\" rel=\"noopener\">Pacman-CCL<\/a><\/strong><strong>,<\/strong> according to a <a target=\"_blank\" href=\"https:\/\/www.accesswire.com\/862059\/ccl-industries-signs-agreement-to-acquire-100-of-middle-east-venture\" style=\"\" rel=\"noopener\">statement<\/a>. The acquisition is expected to be completed this summer, the statement said, adding that financial details will be disclosed upon completion. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fast facts:<\/strong> Albwardy family also owns Spinneys Dubai, which it listed on the DFM earlier this month, as well as several food and logistics ventures, including Al Seer, and hospitality and ins. businesses.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>The JV operates five production facilities across the UAE, Saudi Arabia, Egypt, Oman, and Pakistan, and is the Middle East\u2019s largest label converter. It serves clients in the home and personal care, pharma, oil lubricants, food, beverage and dairy markets.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi-investment-authority\/\">Abu Dhabi Investment Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/india\/\">India<\/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\/pacman-ccl\/\">Pacman-CCL<\/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=\"92012\" 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=\"92012\">\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\/15\/property-finder-secures-usd-90-mn-to-buy-out-beco-capital\/\">\r\n                            Property Finder secures USD 90 mn to buy out Beco Capital                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/15\/property-finder-secures-usd-90-mn-to-buy-out-beco-capital\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Beco Capital \u2014 Property Finder\u2019s first institutional investor \u2014 exited Property Finder \u201cwith a strong return on investment,\u201d providing no further details on the transaction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The transaction marks Francisco Partners\u2019 first investment of its kind in the Emirates<\/strong>, signaling continued foreign investor interest in the UAE\u2019s real estate market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Property Finder \u2014 currently valued at around USD 1 bn, making it one of the region\u2019s unicorns \u2014 is looking to expand into Saudi Arabia and Turkey<\/strong> after having expanded operations in Qatar, Bahrain, and Egypt. The real estate platform <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Lahyani sees \u201chyper-growth\u201d in the UAE\u2019s property market coming to an end: <\/strong>\u201cA real estate market that grows at 50% is not going to be sustainable for the long run and everybody knows that. What we\u2019re seeing right now is a transition from a hyper growth market to a market that is going to continue to grow but in a more sustainable way,\u201d he said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors: <\/strong>JPMorgan &amp; Chase Co. and White &amp; Case served as advisers to Property Finder on the transaction.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/beco-capital\/\">Beco Capital<\/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\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/property-finder\/\">Property Finder<\/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=\"92014 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=\"92014\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/15\/92014-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92014\" class=\"content-area-description single-story post-92014 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.mashreq.com\/en\/uae\/about-us\/our-company\/awards-accolades\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/945.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92015\" 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=\"92015\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/15\/peak-earnings-season-2\/\">\r\n                            Peak earnings season                        <\/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\/15\/peak-earnings-season-2\/\" 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\/15\/peak-earnings-season-2\/')\">\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\/15\/peak-earnings-season-2\/\">\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=Peak earnings season&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/15\/peak-earnings-season-2\/\">\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\/15\/peak-earnings-season-2\/&title=Peak earnings season\">\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=Peak+earnings+season+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F15%2Fpeak-earnings-season-2%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\/15\/peak-earnings-season-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/210.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92016\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/15\/peak-earnings-season-2\/210-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/210.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"210.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/210.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/210.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92015\" class=\"content-area-description single-story post-92015 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-aram-group tag-dubai-investments tag-e7 tag-earnings-watch tag-emaar tag-enterpriseam-uae tag-gulf-medical-projects tag-investcorp-capital tag-naeem-holding-for-investments tag-national-cement-company tag-sharjah-cement-and-industrial-development tag-spinneys tag-tabreed tag-unikai-foods tag-yahsat 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\/.982b6524-06de-4757-a081-f1603cf6ab3f.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">SPINNEYS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Spinneys\u2019 net income grew 12.8% y-o-y to AED 74.7 mn in 1Q 2024,<\/strong> according to the company\u2019s first <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/993.pdf\" style=\"\" rel=\"noopener\">financial statements (pdf)<\/a> filed with the DFM since listing last week. Growth came despite one-off IPO-related costs of AED 10 mn and pre-store opening expenses in Saudi Arabia, and was driven by efficient sourcing and supply chain capabilities and a successful private label strategy, the company said in a separate <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/992.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company booked AED 814.8 mn in revenues, <\/strong>climbing 10.9% y-o-y on the back of better performance across its retail segment, which saw transactions up by 9.5% y-o-y to 802k. Revenue improvement was also boosted by heightened customer demand and a 10.9% y-o-y increase in e-commerce sales, the company said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead: <\/strong>The company plans to launch several new stores and concepts in 2024, including three new stores in the UAE, and Spinneys\u2019 first standalone dining concept \u2014 dubbed The Kitchen \u2014 in 1H 2024. Spinneys will also debut a La Strada store in Saudi Arabia in 1H 2024, with three more stores slated to launch by the end of the year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Spinneys debuted on DFM this month:<\/strong> Al Seer Group listed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/7afffccb-5246-40b3-9f59-a15d3f145e46\/\" style=\"\" rel=\"noopener\">900 mn of its shares<\/a> \u2014 equivalent to a 25% stake \u2014 in Spinneys on the DFM earlier in May, raising <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\">AED 1.38 bn<\/a> after receiving more than AED 71 bn in orders.<\/p>\n<p class=\"tag-border-left\">EMAAR-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A solid quarter for Emaar: <\/strong>Real estate developer Emaar Properties saw its net income before tax grow 16% y-o-y to AED 4.3 bn in 1Q 2024 as the real estate sector continued to see robust demand, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1055.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Revenues came in at AED 6.7 bn, marking a c. 6% y-o-y increase. Growth in retail sales and tourism demand also boosted performance. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The developer made a record AED 13.5 bn in property sales during the quarter<\/strong>, marking a 47% y-o-y growth. Its revenue backlog from property sales rose to AED 78.3 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- In real estate, sales \u2260 revenues.<\/strong> With off-plan sales dominating the industry, most real estate companies book a sale when you sign a contract to buy a home. But they only record (some or all) of the value of the unit it sold you when it (a) delivers the unit to you or (b) hits a percentage completion on a total project. In most cases, then, revenues are composed of sales from past periods, while sales in a given quarter will be recognized as revenues in the future when units are completed or delivered.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How Emaar\u2019s subsidiaries performed: <\/strong>Emaar Development\u2019s revenues reached AED 3.5 bn during the quarter, while Emaar Malls\u2019 posted AED 1.4 bn in revenues. <\/p>\n<p class=\"tag-border-left\">AD PORTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi-based port operator AD Ports Group recorded a 10% y-o-y increase in net <\/strong><strong>income to AED 400.0 mn in 1Q 2024<\/strong>, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/989.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. The company\u2019s revenue more than doubled to AED 3.9 bn, marking a 22% y-o-y increase after adjusting for the impact of M&amp;A. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Breakdown:<\/strong> Revenues from the group\u2019s Ports Clusters rose 80% y-o-y to AED 565 mn, which AD Ports attributed to growth in port leases, general cargo handling, and Ro-Ro handling. The maritime &amp; shipping division\u2019s revenue rose 92% y-o-y to AED 1.76 bn, making it the largest contributor of revenue and EBITDA, according to the release. Meanwhile, the logistics segment's revenue rose seven-fold to AED 1.08 bn, boosted by recent acquisitions and a new logistics JV in Uzbekistan.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Key acquisitions drove AD Ports' earnings growth: <\/strong>Strategic acquisitions, including Noatum Logistics, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/fa88ef7a-2644-4432-a331-dd76bc5856ec\/%253cmark%253enoatum%253c%2Fmark%253e-closes-100%2525-acquisition-of-ses%25c3%25a9-auto-logistics\" style=\"\" rel=\"noopener\">Ses\u00e9 Auto Logistics<\/a>, and the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/987696ea-d3c3-47ef-973b-a6e01b097c33\/ad-ports-reports-surge-in-income-in-1q-2023\" style=\"\" rel=\"noopener\">Global Feeder Shipping<\/a> in late January, all contributed to higher revenues during the quarter.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead:<\/strong> \u201cGoing forward, we plan to commercialize and drive up utilization of existing and upcoming assets, maximizing their value, while we focus on consolidating our position in Abu Dhabi across all clusters, as foreign direct investments in the UAE continue to soar, Group Chief Strategy and Growth Officer Ross Thompson said.<\/p>\n<p class=\"tag-border-left\">FERTIGLOBE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Urea and ammonia exporter<\/strong><strong>Fertiglobe\u2019s adjusted net income fell 11.9% y-o-y in 1Q 2024<\/strong><strong>to USD 119 mn <\/strong>on the back of lower prices and market volatility, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/991.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. The company\u2019s revenues also dipped 20% y-o-y to USD 552 mn, with decreasing crop and energy prices and reduced imports from India and Europe impacting performance.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the bright side:<\/strong> Sales volumes were up 5% y-o-y, driven by increased production and efficient inventory management, with ammonia sales rising 22% and urea sales rising 1%, Fertiglobe CEO Ahmed El Hoshy said. Adnoc's <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f5eb8599-ea93-4db9-b4fc-9dafd3da1ea4\/\" style=\"\" rel=\"noopener\">acquisition of OCI's 50% stake<\/a> in Fertiglobe, set to be completed this year, is also expected to drive the company's growth into new markets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead:<\/strong> Adnoc's <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/e51b7223-8a39-4dd8-a43f-5472e304d4a0\/adnoc-gets-the-green-light-for%253cmark%253e-fertiglobe%253c%2Fmark%253e-acquisition\" style=\"\" rel=\"noopener\">planned acquisition<\/a> of OCI\u2019s 50% stake in Fertiglobe is expected to close this year, Fertiglobe said. The transaction \u201csupports Fertiglobe\u2019s growth strategy\u201d and is set to support the company\u2019s expansion into new markets and \u201c[unlock] further potential in its core products of urea and ammonia.\u201d<\/p>\n<p class=\"tag-border-left\">YAHSAT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Yah Satellite Communications Company\u2019s (Yahsat) net income attributable to <\/strong><strong>shareholders rose 96% y-o-y to AED 185.9 mn in 1Q 2024<\/strong>, according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1123.pdf\" style=\"\" rel=\"noopener\">financials (pdf)<\/a>. The company posted revenue growth of 1% y-o-y amounting to AED 371 mn for the period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Infrastructure and managed solutions drove growth: <\/strong>Yahsat attributed its strong quarterly performance to 1% y-o-y growth in its infrastructure operations, which supply long-term indexed communications capacity to the government, as well as 19% y-o-y growth in managed solutions, which deliver satellite comms to government entities, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1026.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead: <\/strong>The company is currently working towards finalizing its USD 5.1 bn capacity and managed services mandate contract with the government, along with procuring two new satellites, Al Yah 4 and Al Yah 5, according to Yahsat CEO Ali Al Hashemi. The company is also \u201cworking on completing the procurement of Thuraya 4, to be launched into space in the second half of this year.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember- <\/strong>The company is also looking to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/53d46aff-789a-46af-9c91-6efdd88b0865\/bayanat-%253cmark%253eyahsat%253c%2Fmark%253e-merger-gets-shareholder-approval\" style=\"\" rel=\"noopener\">finalize its merger with Bayanat<\/a> in 2H 2024, after the two companies\u2019 boards signed off on the merger in April. <\/p>\n<p class=\"tag-border-left\">DUBAI INVESTMENTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai Investments net income fell 61.8% y-o-y to to AED 120 mn 1Q 2024 <\/strong>due to an unfavorable base effect on the back of a one-off gain on the fair value of investment properties in 2023, according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/990.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Excluding the one-off gain, Dubai Investments\u2019 bottom line would have risen 90% y-o-y during the quarter. The company recorded AED 791.9 mn in revenues during the quarter, down 21.6% y-o-y. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead: <\/strong>\u201cThe group\u2019s dedication to prudent portfolio growth and strategic asset expansion remains unwavering, as evidenced by the upcoming launch of DIP Angola that promises infrastructure development and economic growth in Africa,\u201d the company said. The company will focus on rolling out key real estate projects initiated in the previous year. <\/p>\n<p class=\"tag-border-left\">E7-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E7 Group had a stable quarter:<\/strong> Printing company E7\u2019s net income after tax increased 29.4% y-o-y to AED 26.6 mn for 1Q 2024, according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1011.pdf\" style=\"\" rel=\"noopener\">financials (pdf)<\/a>. The company\u2019s revenues remained somewhat stable, inching down 1% y-o-y to AED 126 mn due primarily to a revised delivery schedule of a key commercial printing contract, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/998.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/998.pdf\" style=\"\" rel=\"noopener\">)<\/a>. Revenues from the contract will be realized in 2Q 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Refresher:<\/strong> E7 reported a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/b3a43530-70c0-404c-8fa2-227e0c99abad\/so-many-earnings\" style=\"\" rel=\"noopener\">net loss of 51.1 mn in 2023<\/a>, compared to a net income of AED 67.9 mn in 2022. Net income was influenced by E7's <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/cbae4a36-d432-4cb2-ab7e-d95ba087ae31\" style=\"\" rel=\"noopener\">listing on the ADX<\/a> as a de-spac entity, the region\u2019s first. The company\u2019s board approved a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/28424386-3fdc-4979-95bf-21891eece3b3\/third-wave-of-bond-default-looms-in-china\" style=\"\" rel=\"noopener\">1:10 share split<\/a> back in April to help attract retail investors and \u201cindirectly improve\u201d liquidity. <\/p>\n<p class=\"tag-border-left\">BAYANAT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Geospatial services provider Bayanat saw its net income after <\/strong><strong>tax fall 53% y-o-y to AED 10.3 mn in 1Q 2024<\/strong>, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1124.pdf\" style=\"\" rel=\"noopener\">financials (pdf)<\/a>. Bayant saw its revenues climb 12% y-o-y to AED 113.3 mn for the quarter, driven by \u201cthe expansion of its market presence and its strong product range and service offerings,\u201d it said in its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1081.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead: <\/strong>Bayant will continue to work with Yahsat to finalize their <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/53d46aff-789a-46af-9c91-6efdd88b0865\/bayanat-%253cmark%253eyahsat%253c%2Fmark%253e-merger-gets-shareholder-approval\" style=\"\" rel=\"noopener\">merger<\/a>, creating AI-powered space tech firm Space42, set for completion in 2H 2024.<\/p>\n<p class=\"tag-border-left\">SHARJAH CEMENT AND INDUSTRIAL DEVELOPMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sharjah Cement turns to the black in 1Q: <\/strong>Sharjah Cement and Industrial Development turned to profitability in 1Q 2024, reporting a net income of AED 8.4 mn for the quarter, compared to the AED 7.4 mn loss incurred during the same period last year, according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1084.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. The company attributed the recorded income to lower raw material and energy costs, along with higher investment returns. Sharjah Cement saw its revenues rise to AED 167 mn during the quarter, up 6% y-o-y, according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1083.pdf\" style=\"\" rel=\"noopener\">financial statements (pdf)<\/a>. <\/p>\n<p class=\"tag-border-left\">TABREED-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>District cooling firm Tabreed\u2019s net income after tax fell 52% y-o-y to AED <\/strong><strong>112 mn in 1Q <\/strong><strong>2024 <\/strong>on the back of one-off gains in the same period last year,according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1085.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Tabreed posted AED 122 mn in net income before tax, marking a 4% y-o-y rise during the quarter. The district cooling company\u2019s revenues remained relatively flat in 1Q at AED 468 mn, up 0.8% y-o-y from the AED 464 mn reported during the same period last year. <\/p>\n<p class=\"tag-border-left\">INVESTCORP CAPITAL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investcorp Capital\u2019s bottom line dropped 35% y-o-y to USD 49 mn in 3Q of its 2023\/24 <\/strong><strong>fiscal year<\/strong>, owing to lower value gains and performance fees, which it attributes to \u201cthe prevailing market conditions,\u201d according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1082.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. The company saw flat growth in its revenue from capital financing services, logging USD 33 mn during the quarter, compared to USD 34 mn in the same period the previous year, while its revenue from capital deployment tumbled 44% y-o-y to USD 29 mn. Investcorp\u2019s fiscal year runs from July to June.<\/p>\n<p class=\"tag-border-left\">ARAM GROUP-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ARAM Group saw its net income rise 56% y-o-y to AED 455k in 1Q 2024, <\/strong>driven by an appreciation of its share investment in Kuwait Hotel, according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1042.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. The investment company\u2019s revenues remained relatively flat at AED 2.4 mn \u2014 97% of its budgeted revenue \u2014 during the period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ARAM achieved its highest occupancy level recorded at 96.54%<\/strong>, up nearly eight percentage points from the previous year, but growth was hindered by its limited number of available rental units following the disposal of its Industrial Area 3 property.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead: <\/strong>The company plans to roll out \u201ccontinuous improvements to current facilities and strategic projects in the pipeline,\u201d it said. It will also focus on diversifying its portfolio, and is in the process of setting up new investment plans and strategic initiatives to expand operations into high-yield business segments. <\/p>\n<p class=\"tag-border-left\">NAEEM HOLDING FOR INVESTMENTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Naeem Holding for Investments turned to the black in 1Q 2024, <\/strong>reporting a bottom line of USD 492.8k over the period, compared to the USD 37k loss recorded in the same quarter last year, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1001.pdf\" style=\"\" rel=\"noopener\">financial statements (pdf)<\/a>. Its top line stood at USD 3.4 mn during the first three months of 2024, reflecting an increase of 59% y-o-y during the quarter. <\/p>\n<p class=\"tag-border-left\">NATIONAL CEMENT COMPANY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai\u2019s National Cement posted a 155% y-o-y increase in net income to AED 129.5 <\/strong><strong>mn in 1Q 2024<\/strong>, according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/986.pdf\" style=\"\" rel=\"noopener\">unaudited financials (pdf)<\/a>. The cement manufacturer\u2019s revenues rose 30.5% y-o-y to AED 55.3 mn.<\/p>\n<p class=\"tag-border-left\">UNIKAI FOODS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai-based Unikai Foods reported a bottom line of AED 4.4 mn in 1Q 2024<\/strong>, up 712% y-o-y, according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/987.pdf\" style=\"\" rel=\"noopener\">unaudited financials (pdf)<\/a>. The company\u2019s revenues increased 23.1% y-o-y to AED 96.5 mn, according to the statement. <\/p>\n<p class=\"tag-border-left\"> GULF MEDICAL PROJECTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gulf Medical Projects saw a 39% y-o-y jump in its bottom line, reaching AED 23 mn in 1Q <\/strong><strong>2023, <\/strong>according to the hospital operator\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1022.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. The company logged AED 167 mn in revenues for the period, marking a 23% y-o-y increase. <\/p>\n<p class=\"tag-border-left\">EMIRATES INVESTMENT BANK-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emirates Investment Bank\u2019s bottom line fell 8.5% y-o-y to AED 31.1 mn in 1Q 2024, <\/strong>according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1025.pdf\" style=\"\" rel=\"noopener\">consolidated financials (pdf)<\/a>. The investment bank\u2019s interest income rose 35.5% y-o-y to AED 30.8 mn, while its net income from both interest and investments more than doubled to AED 41.4 mn, posting a 117.4% y-o-y growth.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/aram-group\/\">ARAM Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai-investments\/\">Dubai Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/e7\/\">E7<\/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\/emaar\/\">Emaar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/gulf-medical-projects\/\">Gulf Medical Projects<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investcorp-capital\/\">Investcorp Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/naeem-holding-for-investments\/\">Naeem Holding for Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/national-cement-company\/\">National Cement Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/sharjah-cement-and-industrial-development\/\">Sharjah Cement and Industrial Development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/spinneys\/\">Spinneys<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/tabreed\/\">Tabreed<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/unikai-foods\/\">Unikai Foods<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/yahsat\/\">Yahsat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92017\" 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=\"92017\">\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\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/15\/blue-owl-appoints-new-regional-executive-haitham-abdulkarim\/\">\r\n                            Blue Owl appoints new regional executive Haitham Abdulkarim                        <\/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\/15\/blue-owl-appoints-new-regional-executive-haitham-abdulkarim\/\" 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\/15\/blue-owl-appoints-new-regional-executive-haitham-abdulkarim\/')\">\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\/15\/blue-owl-appoints-new-regional-executive-haitham-abdulkarim\/\">\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=Blue Owl appoints new regional executive Haitham Abdulkarim&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/15\/blue-owl-appoints-new-regional-executive-haitham-abdulkarim\/\">\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\/15\/blue-owl-appoints-new-regional-executive-haitham-abdulkarim\/&title=Blue Owl appoints new regional executive Haitham Abdulkarim\">\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=Blue+Owl+appoints+new+regional+executive+Haitham+Abdulkarim+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F15%2Fblue-owl-appoints-new-regional-executive-haitham-abdulkarim%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\/15\/blue-owl-appoints-new-regional-executive-haitham-abdulkarim\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1128.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92018\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/15\/blue-owl-appoints-new-regional-executive-haitham-abdulkarim\/1128-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1128.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1128.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1128.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1128.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92017\" class=\"content-area-description single-story post-92017 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-blue-owl tag-enterpriseam-uae tag-fintech 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\/.982b6524-06de-4757-a081-f1603cf6ab3f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US-based asset management company Blue Owl has appointed Haitham Abdulkarim<\/strong><strong> (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/habdulkarim\/?original_referer=https%3A%2F%2Fwww%2Egoogle%2Ecom%2F&originalSubdomain=ae\" style=\"\" rel=\"noopener\">LinkedIn<\/a><\/strong><strong>) to lead the company\u2019s institutional business in the region<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/www.prnewswire.com\/news-releases\/blue-owl-capital-hires-haitham-abdulkarim-to-oversee-institutional-business-in-middle-east-302143753.html\" style=\"\" rel=\"noopener\">a statement<\/a>. Abdulkarim previously headed BlackRock in the UAE. The appointment comes as Blue Owl expects to open its regional office in Abu Dhabi in the coming months, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-09-22\/blue-owl-plans-to-open-abu-dhabi-office-in-middle-east-expansion\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported previously. The company, with USD 174 bn worth of assets under management, is looking to get a foothold in the region by securing funds from family offices, pensions and sovereign wealth funds. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/blue-owl\/\">Blue Owl<\/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\/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=\"92019\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n    <div class=\"issue-sponsor-slides-div\">\r\n        \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/43010.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.mashreq.com\/en\/uae\/neo\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/20607.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Rise every day<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/43009.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/hap.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/20617.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>From OUR FAMILY to YOURS<\/span>\r\n                <\/div>\r\n            <\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92020\" 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=\"92020\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">UAE IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/15\/abu-dhabis-first-licensed-microbrewery-more-on-us-uae-ai-ties\/\">\r\n                            Abu Dhabi\u2019s first licensed microbrewery + more on US-UAE AI ties                        <\/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\/15\/abu-dhabis-first-licensed-microbrewery-more-on-us-uae-ai-ties\/\" 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\/15\/abu-dhabis-first-licensed-microbrewery-more-on-us-uae-ai-ties\/')\">\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\/15\/abu-dhabis-first-licensed-microbrewery-more-on-us-uae-ai-ties\/\">\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=Abu Dhabi\u2019s first licensed microbrewery + more on US-UAE AI ties&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/15\/abu-dhabis-first-licensed-microbrewery-more-on-us-uae-ai-ties\/\">\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\/15\/abu-dhabis-first-licensed-microbrewery-more-on-us-uae-ai-ties\/&title=Abu Dhabi\u2019s first licensed microbrewery + more on US-UAE AI ties\">\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=Abu+Dhabi%E2%80%99s+first+licensed+microbrewery+%2B+more+on+US-UAE+AI+ties+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F15%2Fabu-dhabis-first-licensed-microbrewery-more-on-us-uae-ai-ties%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\/15\/abu-dhabis-first-licensed-microbrewery-more-on-us-uae-ai-ties\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1689.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92021\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/15\/abu-dhabis-first-licensed-microbrewery-more-on-us-uae-ai-ties\/1689-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1689.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1689.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1689.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1689.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92020\" class=\"content-area-description single-story post-92020 post type-post status-publish format-standard has-post-thumbnail hentry category-uae-in-the-news tag-abu-dhabi tag-ai tag-enterpriseam-uae 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\/.982b6524-06de-4757-a081-f1603cf6ab3f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s relatively quiet for UAE in the news<\/strong>: <a target=\"_blank\" href=\"https:\/\/www.france24.com\/en\/live-news\/20240514-taboo-to-brew-conservative-gulf-gets-first-local-beer\" style=\"\" rel=\"noopener\">France24<\/a> has a feature out on Chad McGehee, the founder of the Abu Dhabi-based Craft pub, and his efforts to set up the sole licensed microbrewery in the Arab Gulf region. Plans to establish the pub followed Abu Dhabi's relaxation of alcohol laws in 2021, in a bid to attract more tourists to the emirate. Meanwhile, the <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/technology\/2024\/05\/14\/middle-east-ai-tech-companies-saudi-arabia-uae\/\" style=\"\" rel=\"noopener\">Washington Post<\/a> looks at the US\u2019 increased interest in the UAE\u2019s AI sector, and how the two countries are managing \u201crisks\u201d associated with Chinese investments in the sector. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi\/\">Abu Dhabi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ai\/\">AI<\/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=\"92022\" 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=\"92022\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/15\/a-new-digital-asset-player-sets-up-shop-in-the-adgm\/\">\r\n                            A new digital asset player sets up shop in the ADGM                        <\/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\/15\/a-new-digital-asset-player-sets-up-shop-in-the-adgm\/\" 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\/15\/a-new-digital-asset-player-sets-up-shop-in-the-adgm\/')\">\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\/15\/a-new-digital-asset-player-sets-up-shop-in-the-adgm\/\">\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=A new digital asset player sets up shop in the ADGM&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/15\/a-new-digital-asset-player-sets-up-shop-in-the-adgm\/\">\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\/15\/a-new-digital-asset-player-sets-up-shop-in-the-adgm\/&title=A new digital asset player sets up shop in the ADGM\">\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=A+new+digital+asset+player+sets+up+shop+in+the+ADGM+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F15%2Fa-new-digital-asset-player-sets-up-shop-in-the-adgm%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\/15\/a-new-digital-asset-player-sets-up-shop-in-the-adgm\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/755.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92023\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/15\/a-new-digital-asset-player-sets-up-shop-in-the-adgm\/755-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/755.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"755.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/755.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/755.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92022\" class=\"content-area-description single-story post-92022 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-enterpriseam-uae tag-fb tag-financial-services tag-healthcare tag-logistics tag-m42 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\/.982b6524-06de-4757-a081-f1603cf6ab3f.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">FINANCIAL SERVICES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>ADGM watchdog grants Liminal greenlight: <\/strong><a target=\"_blank\" href=\"https:\/\/www.liminalcustody.com\/\" style=\"\" rel=\"noopener\">Liminal Custody<\/a>, a digital wallet infrastructure provider, will now be able to operate as a digital asset custodian in the Mena region after receiving a financial services permission license from Abu Dhabi Global Market\u2019s (ADGM) regulator, the Financial Services Regulatory Authority (FSRA), according to a <a target=\"_blank\" href=\"https:\/\/www.adgm.com\/media\/announcements\/liminal-secures-key-adgm-fsp-license\" style=\"\" rel=\"noopener\">statement<\/a>. The FSP license will allow Liminal to hold and manage digital assets for retail and institutional investors, hedge funds, and venture capital firms, Liminal <a target=\"_blank\" href=\"https:\/\/twitter.com\/liminalcustody\/status\/1789968903151456345\" style=\"\" rel=\"noopener\">said<\/a>.<\/p>\n<p class=\"tag-border-left\"> LOGISTICS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1-<\/strong><strong>RSA cold chain JV breaks ground on Jebel Ali facility: <\/strong>RSA Cold Chain, a joint venture between Dubai-based <a target=\"_blank\" href=\"https:\/\/www.rsa.global\/\" style=\"\" rel=\"noopener\">RSA Global<\/a> and US publicly listed temperature-controlled warehousing company Americold, began construction of its flagship facility in Dubai's Jebel Ali Freezone (Jafza), according to <a target=\"_blank\" href=\"https:\/\/www.rsa.global\/blog\/scaling-up-rsa-cold-chain-initiates-advanced-regional-distribution-centre-with-groundbreaking-ceremony\" style=\"\" rel=\"noopener\">a press release<\/a>. Built in collaboration with <a target=\"_blank\" href=\"https:\/\/www.groupamana.com\/\" style=\"\" rel=\"noopener\">Group Amana<\/a>, the center will feature eight chambers and expand pallet capacity by 40k, maintaining temperatures as low as -25\u00b0C. The project is scheduled for completion in 1Q 2025, with plans to double capacity to 70,600 pallets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- DP World + Einride to deploy the Middle East\u2019s largest fleet of driverless electric <\/strong><strong>cargo vehicles: <\/strong>DP World and autonomous and electric freight mobility outfit <a target=\"_blank\" href=\"https:\/\/einride.tech\/\" style=\"\" rel=\"noopener\">Einride<\/a> have inked an agreement to electrify inter-terminal container flows at Jebel Ali Port, according to a <a target=\"_blank\" href=\"https:\/\/einride.tech\/press\/dp-world-and-einride\" style=\"\" rel=\"noopener\">press release<\/a>. The agreement will see the dispatch of 100 connected electric trucks \u2014 the largest fleet of its type in the region. Deployment will begin late this year, and will ramp up to support 1.6k container movements per day. Pilot trials for autonomous trips will kick off in 2025, the statement said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the fleet:<\/strong> The fleet will be managed through Einride Sage \u2014 a digital operating system that can analyze, optimize, and increase efficiency of electric and autonomous road freight operations, according to the statement. The fleet will curb some 14.k tonnes of CO2 and 158 tonnes of nitrogen oxide emissions per day, once it reaches full capacity.<\/p>\n<p class=\"tag-border-left\">HEALTHCARE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>M42\u2019s biobank is on track to open next year: <\/strong>Abu Dhabi-based G42 healthcare arm M42 is set to launch a 2 sqkm net-zero biobank in Masdar City next year, in collaboration with Abu Dhabi\u2019s Department of Health, M42 Senior VP Albarah Elkhani tells <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/news\/uae\/2024\/05\/14\/abu-dhabi-biobank-cord-blood\/\" style=\"\" rel=\"noopener\">The National<\/a>. The center will hold the largest collection of human biomaterials in the region, storing up to 5 mn biological samples and 100k stem cells. It will also feature the region's first public cord-blood bank.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The center will serve the entire region,<\/strong> in a bid to address the underrepresentation of Middle Eastern and Asian communities in global clinical trials, and facilitate research efforts for novel treatments and drug discovery. It will employ local talent, with collaborations with universities currently underway to develop programmes on biobanking to ramp up local expertise.<\/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>Tadweer to build waste sorting facility in Abu Dhabi: <\/strong>Abu Dhabi waste management company Tadweer has issued tenders to establish the emirate\u2019s first greenfield Material Recovery Facility, according to a <a target=\"_blank\" href=\"https:\/\/tadweer.ae\/news\/tadweer-group-to-build-abu-dhabis-first-ever-dedicated-facility-for-recovering-and-capturing-valuable-recyclable-materials-from-waste\/\" style=\"\" rel=\"noopener\">statement<\/a>. Construction on the plant, which will have the capacity to process 1.3 mn metric tons of waste annually, will start by the end of the year after the contract is awarded, with operations set to begin in 2026.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The plant will sort recyclables from solid waste, reducing landfill use and producing materials for Abu Dhabi\u2019s waste-to-energy facility, the statement adds. The project will contribute to Tadweer Group's goal of diverting 80% of waste from landfills by 2030. The long-term plan for the facility also includes providing feedstock to produce sustainable aviation fuel. <\/p>\n<p class=\"tag-border-left\">FOOD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi-based agrofood tech company Silal has opened a 12 sqkm automated<\/strong><strong> packhouse in Al Ain<\/strong>, the <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/technology\/silal-inaugurates-largest-automated-packhouse-in-uae\/\" style=\"\" rel=\"noopener\">Abu Dhabi Media Office<\/a> reports. The new facility, equipped with 28 precooling chambers and nine cold stores, has a daily capacity of 325 tons and is capable of producing 180k packs per day. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/fb\/\">F&amp;B<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/financial-services\/\">financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/healthcare\/\">Healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/m42\/\">M42<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92024\" 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=\"92024\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/15\/us-quadruples-tariffs-on-chinese-evs-to-100\/\">\r\n                            US quadruples tariffs on Chinese EVs to 100%                        <\/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\/15\/us-quadruples-tariffs-on-chinese-evs-to-100\/\" 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\/15\/us-quadruples-tariffs-on-chinese-evs-to-100\/')\">\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\/15\/us-quadruples-tariffs-on-chinese-evs-to-100\/\">\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=US quadruples tariffs on Chinese EVs to 100%&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/15\/us-quadruples-tariffs-on-chinese-evs-to-100\/\">\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\/15\/us-quadruples-tariffs-on-chinese-evs-to-100\/&title=US quadruples tariffs on Chinese EVs to 100%\">\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=US+quadruples+tariffs+on+Chinese+EVs+to+100%25+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F15%2Fus-quadruples-tariffs-on-chinese-evs-to-100%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\/15\/us-quadruples-tariffs-on-chinese-evs-to-100\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1078.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92025\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/15\/us-quadruples-tariffs-on-chinese-evs-to-100\/1078-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1078.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1078.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1078.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1078.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92024\" class=\"content-area-description single-story post-92024 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-china tag-planet-finance 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\/.982b6524-06de-4757-a081-f1603cf6ab3f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The US has gone on the offensive in the trade war with China<\/strong>, with the White House yesterday&nbsp;<a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2024\/05\/14\/fact-sheet-president-biden-takes-action-to-protect-american-workers-and-businesses-from-chinas-unfair-trade-practices\/\" target=\"_blank\" rel=\"noopener\">announcing<\/a>&nbsp;a raft of tariff increases on USD 18 bn worth of Chinese imports that will each begin taking effect between 2024 and 2026.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Biden has his eyes set on green tech<\/strong>, deciding that tariffs on Chinese EVs will <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/972cabfb-f587-4cb3-ab21-ec3380b049da\" style=\"\" rel=\"noopener\">quadruple<\/a> to 100%, those on lithium-ion EV batteries to more than triple to 25%, those on solar cells to double to 50%. <strong>And he hasn\u2019t forgotten about semiconductors<\/strong>, as tariffs on chips from the world\u2019s second biggest economy are set to double to 50%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Biden\u2019s tough talk seems to be directed to US voters as much as it does to China<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-14\/biden-imposes-sweeping-tariffs-on-chinese-chips-minerals-evs?srnd=homepage-middle-east&amp;embedded-checkout=true\" style=\"\" rel=\"noopener\">warning<\/a> the world\u2019s factory yesterday that \u201cwhen you make tactics like this, you\u2019re not competing, it\u2019s not competition, it\u2019s cheating. And we\u2019ve seen damage here in America\u201d (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=83j7_BSIVgs\" style=\"\" rel=\"noopener\">watch, runtime: 22:30<\/a>). The US is a minor market for Chinese EVs today. <\/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>YOU HAVE TO LOVE IT- Evli Emerging Frontier Fund has beaten 99% of its peers over the <\/strong><strong>past five years. <\/strong>It\u2019s next big thing? small-cap stocks, this time in Turkey. An ambitious fund manager that\u2019s building a story about a great segment of the economy in a country that has plenty of challenges \u2014 and tons of potential? What\u2019s not to like. <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-14\/emerging-market-fund-with-30-return-bets-on-turkish-small-caps\" style=\"\" rel=\"noopener\">Bloomberg<\/a> has more.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- BlackRock is making its presence felt in the crypto space<\/strong> after <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/3b80713e-41d1-4965-900e-4bb37b1dbc2c\" style=\"\" rel=\"noopener\">building up USD<\/a><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/3b80713e-41d1-4965-900e-4bb37b1dbc2c\" style=\"\" rel=\"noopener\">16.7 bn in assets<\/a> since the launch of its crypto exchange-traded fund (ETF) in January 2024. Despite initial reluctance to move into crypto \u2014 which CEO Larry Fink <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2017\/10\/13\/blackrock-ceo-larry-fink-calls-bitcoin-an-index-of-money-laundering.html\" style=\"\" rel=\"noopener\">called<\/a> \u201can index of money laundering\u201d in 2017 \u2014 BlackRock is now the second-largest BTC fund after market leader Grayscale. The asset manager has also rolled out a crypto treasury fund that is already being used by hedge funds and money markets to source collateral for crypto trades.<\/p>\n<p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a mixed morning in Asia: <\/strong>The Shanghai Composite is down, the Nikkei is up, and markets in both Hong Kong and South Korea are closed in observance of Buddha\u2019s birthday. Futures suggest European and US markets will open in the green later today as traders wait for a key US consumer price report later today.<\/p>\n<p><a target=\"_blank\" id=\"t.f7f86e0b46f9c6f08d9a75239dbc4512dcfa644f\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p>\n<div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,058<\/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: -5.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,137<\/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: +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>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\">3,545<\/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: -7.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : AED<\/strong><strong> CBUAE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 3.67<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 3.67<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,121<\/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\">-1.1% (YTD: +1.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">25,340<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: +1.8%)<\/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>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\">5,247<\/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: +10.0%)<\/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>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\">8,428<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +9.0%)<\/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>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\">5,080<\/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: +12.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 82.38<\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.34<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,363<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1%<\/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 61,595<\/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\">-2.1% (YTD: +45.9%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ADX fell 0.4% yesterday<\/strong> on turnover of AED 941.6 mn The index is down 5.4% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Bank of Sharjah (+7.3%), Agthia Group (+4.2%) and Adnoc Drilling (+3.7%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Fujairah Building Industries (-9.8%), Palms Sports (-5.8%) and E7 Group (-5.6%). <\/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 fell 0.9% on turnover of AED 694.2 mn. Meanwhile Nasdaq Dubai dropped 0.8%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CORPORATE ACTIONS- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aramex has tapped Arqaam Securities as a liquidity provider&nbsp;<\/strong>for its listed shares on the DFM, the company stated in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1076.pdf\" style=\"\" rel=\"noopener\">DFM disclosure (pdf)<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <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=\"92026\" 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\/15\/92026-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92026\" class=\"content-area-description single-story post-92026 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>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 style=\"font-weight:400;\">, Cultural Foundation, Abu Dhabi. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>13-15 May (Monday-Wednesday): Food Innovation Conference 2024, Jumeirah Emirates Tower, 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;\">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>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>15 May (Wednesday): UAE and Indian officials <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.hindustantimes.com\/india-news\/indiauae-to-work-on-imeec-protocols-next-month-101712804895346.html\" style=\"\">are set to meet<\/a><\/span><span style=\"font-weight:400;\"> 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 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>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;\">5 June (Wednesday): Deadline for Sidara to resubmit or withdraw its takeover bid to John Wood Group. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>5 June (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/optimism.enterprise.news\/\" style=\"\">The Optimism Forum<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt.<\/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 in 2025:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">6-11 April (Sunday-Friday): Geo-Spatial Week 2025, Dubai.<\/span><\/li>\n<li><span style=\"font-weight:400;\">3-4 June (Tuesday-Wedneday): Make-A-Wish International\u2019s Global Wish summit, Abu Dhabi.<\/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\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>Property Finder buys out shareholder | Dubai launches quality of life strategy | Liminal sets up shop in 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