{"id":92198,"date":"2024-05-21T00:00:00","date_gmt":"2024-05-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=92198"},"modified":"2025-12-15T00:23:42","modified_gmt":"2025-12-15T00:23:42","slug":"adnoc-makes-its-first-investment-in-the-us","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/adnoc-makes-its-first-investment-in-the-us\/","title":{"rendered":"Adnoc makes its first investment in the US"},"content":{"rendered":"<section id=\"92200\" 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=\"92200\">\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\/21\/adias-malaysia-airports-bid-could-need-revision-shareholder-says\/\">\r\n                            THIS MORNING: Adia\u2019s Malaysia Airports bid could need revision, shareholder says + Passenger travel is on the up in the UAE                        <\/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\/21\/adias-malaysia-airports-bid-could-need-revision-shareholder-says\/\" target=\"_blank\">\n                   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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/543.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92201\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/21\/adias-malaysia-airports-bid-could-need-revision-shareholder-says\/543-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/543.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"543.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/543.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/543.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92200\" class=\"content-area-description single-story post-92200 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-abu-dhabi-global-market tag-abu-dhabi-investment-authority tag-aviation tag-enterpriseam-uae tag-ma-watch tag-tourism 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\/.0895cbaa-1d60-4dba-a94d-bc83f9e69823.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Good morning, wonderful people. <\/strong><span style=\"background-color: transparent;\">We have a tight but interesting issue for you this morning, with plenty of updates on the macro, IPO, and M&amp;A fronts.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG STORY is a toss-up between Adnoc\u2019s venture into the US<\/strong>, with the acquisition of a minority stake in a Texas LNG project, and <strong>Alef Education getting the ball rolling on the ADX<\/strong> with the first IPO on the exchange for the year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- It\u2019s a little foggy this morning, <\/strong>and the National Center of Meteorology has <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/13xcq6q-ncm-warns-fog-formation-poor-visibility\" style=\"\" rel=\"noopener\">issued a warning<\/a> to residents driving in the early hours of the day. The mercury hits 37\u00b0C today in <strong>Dubai <\/strong>and <strong>Abu Dhabi<\/strong>, with overnight low ranging between 25-27\u00b0C.<\/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\u2019s new <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/9f47e051-fbaf-4d95-aa2a-9ac46f2506f5\/al-maktoum-airport-expansion-plans-are-back-on-track\" style=\"\" rel=\"noopener\">Al Maktoum Airport<\/a><\/strong><strong> is expected to give rise to a new full-fledged city in the southwest housing around <\/strong><strong>1 mn <\/strong><strong>people<\/strong>, Knight Frank Partner and Head of Research Faisal Durrani told <a target=\"_blank\" href=\"https:\/\/www.albayan.ae\/economy\/uae\/2024-05-20-1.4875098\" style=\"\" rel=\"noopener\">Al Bayan<\/a>. Developers will need to ramp up developments in Dubai South to accommodate the anticipated influx, especially as demand continues to outstrip supply in other parts of Dubai. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai is expected to see only 22k homes delivered yearly for the next five years<\/strong>, far below the 70k needed annually to meet future demand, which will keep upwards pressure on prices, especially in Dubai South, Durrani said. <strong>Real estate prices in Dubai have risen 9% y-o-y in 1Q 2024<\/strong>, Durrani said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>#2- Could ADIA\u2019s consortium revise its bid for Malaysia Airports? <\/strong>The takeover bid by a consortium comprising Abu Dhabi Investment Authority, GIP, and Malaysian state players Khazanah Nasional Berhad and Employees Provident Fund could be \u201ctoo opportunistic\u201d and might need to be revised, Ross Cameron, a portfolio manager at Northcape \u2014 which owns a 1.7% stake in the airport operator \u2014 told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-20\/malaysia-airports-shareholder-expresses-doubt-on-takeover-bid?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> The consortium offered to pay MYR 11 (USD 2.34) per share for 67% of the company in a bid to take it private, representing a 15% premium over Malaysia Airports\u2019 three-month volume-weighted average price and valuing it at USD 3.9 bn, according to the statement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One analyst, however, said the offer is \u201cfairly valued\u201d<\/strong> given that minority shareholders have \u201cpositioned early\u201d in anticipation of a take-private bid, driving the share price up in recent months. <\/p>\n<p class=\"tag-border-left\">DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The Abu Dhabi Global Market (ADGM) grew its assets under management by a record <\/strong><strong>211% y-o-y in 1Q 2024, <\/strong>it said in a <a target=\"_blank\" href=\"https:\/\/www.adgm.com\/media\/announcements\/adgm-sees-a-record-surge-of-211-percent-in-aum\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. The financial center now has 107 fund and asset managers managing some 137 funds as of the end of the quarter, while the total number of operational entities increased 30% y-o-y to nearly 2k, including 291 financial services entities. <\/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>#2- UAE airports saw 36.5 mn passengers pass through in 1Q 2024, <\/strong>marking a 14.7% y-o-y jump in passenger traffic, state news agency <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b38xvcf-uae-airports-welcome-365-million-passengers-2024\" style=\"\" rel=\"noopener\">Wam<\/a> reports, citing the General Civil Aviation Authority. Arrivals accounted for 11 mn of the passengers, departures for 10.8 mn, and transit passengers reached around 15 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The air cargo sector jumped 32% yo-y during the first three months of the year, <\/strong>handling 1.1 mn tons of cargo, with national carriers handling 68% of the cargo volume during the quarter. Out of the 1.1 mn tons, imports comprised 269k tons, exports 119k tons, while transit goods totaled 714k tons.<\/p>\n<p class=\"tag-border-left\">HAPPENING TODAY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The<\/strong><strong><a target=\"_blank\" href=\"https:\/\/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 on its second day and runs until tomorrow in Dubai<\/strong>. Hosted by the Emirates National Oil Company and organized by the 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>#2-<\/strong><strong><a target=\"_blank\" href=\"https:\/\/challenge.dub.ai\/en\/\" style=\"\" rel=\"noopener\">The Global Prompt Engineering Championship<\/a><\/strong><strong>, the world\u2019s biggest AI prompt <\/strong><strong>challenge, kicked off yesterday and runs until tomorrow<\/strong>, at the Emirates Towers and the Museum of the Future. The championship's final stage features 30 participants from the fields of art, literature, and coding, selected from thousands worldwide, writes <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/ar\/article\/b36k4xc-dubai-hosts-world%E2%80%99s-biggest-prompt-engineering\" style=\"\" rel=\"noopener\">Wam<\/a>. They will be competing for a grand prize of AED 1 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- 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>kicking off today and will run until tomorrow 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>#4-<\/strong><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.evinnovationsummit.com\/\" style=\"\" rel=\"noopener\">Electric Vehicle Innovation Summit<\/a><\/strong><strong> is on its second day and runs until <\/strong><strong>tomorrow in Abu Dhabi. <\/strong>The three-day event welcomes over 300 delegates \u2014 including the <a target=\"_blank\" href=\"https:\/\/x.com\/MOEIUAE\/status\/1792115156396232970\" style=\"\" rel=\"noopener\">Energy and Infrastructure Ministry<\/a> \u2014 and 200 exhibiting brands to spotlight the future of electric vehicles in advancing sustainable mobility.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- <\/strong><strong>ADX kicked off its 2024 Global Investor Roadshow and Conference in New York <\/strong><strong>yesterday<\/strong> in collaboration with Morgan Stanley Bank, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1600.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. Ending today, the event aims to connect ADX\u2019s 15 blue-chip companies with major New York-based institutional investors and portfolio managers. The 15 top ADX-listed companies attending the roadshow represent a combined market cap exceeding USD 228 bn, and include Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Adnoc Distribution, Adnoc Drilling, and AD Ports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#6-<\/strong><strong><a target=\"_blank\" href=\"https:\/\/cabsat.com\/\" style=\"\" rel=\"noopener\">CABSAT<\/a><\/strong><strong> kicked off its latest edition today at the Dubai World Trade Centre. <\/strong>The three-day event will welcome over 18k industry professionals and media markets to explore business prospects across content, broadcast, satellite, media, and entertainment, before wrapping on Thursday, 23 May. <\/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\"> THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our corner of the world is the undisputed big story around the world <\/strong>as journalists around the world take stock of the death of Iran\u2019s president and foreign minister, the health of Saudi Arabia\u2019s King Salman, and the prospect of arrest warrants for the top leaders of Israel and Hamas.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The International Criminal Court\u2019s chief prosecutor has <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.icc-cpi.int\/news\/statement-icc-prosecutor-karim-aa-khan-kc-applications-arrest-warrants-situation-state\" style=\"\" rel=\"noopener\">requested<\/a><\/strong><strong> arrest <\/strong><strong>warrants for Israeli Prime Minister Benjamin Netanyahu<\/strong>, his defense minister, and three Hamas leaders on charges of war crimes and crimes against humanity. A panel of ICC judges will decide whether or not to accept the prosecutor\u2019s request. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The US isn\u2019t happy: <\/strong>US President Joe Biden was quick to respond to the news. In a brief <a target=\"_blank\" href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2024\/05\/20\/statement-from-president-joe-biden-on-the-warrant-applications-by-the-international-criminal-court\/\" style=\"\" rel=\"noopener\">statement<\/a>, he called the move \u201coutrageous.\u201d Meanwhile, US Secretary of State Antony Blinken is <a target=\"_blank\" href=\"https:\/\/www.state.gov\/warrant-applications-by-the-international-criminal-court\/#:~:text=Fundamentally%2C%20this%20decision%20does%20nothing,States%20continues%20to%20pursue%20relentlessly.\" style=\"\" rel=\"noopener\">warning of the implications<\/a> of this move, saying that it could jeopardize ongoing efforts to reach a ceasefire agreement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The death of Iranian President Ibrahim Raisi has opened a conversation on the future of the<\/strong><strong> region\u2019s leadership<\/strong>, writes <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-20\/saudi-king-s-health-iran-leader-s-death-spark-succession-bets?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. The business information service also points to questions around the health of King Salman, who is currently <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/saudi-king-undergo-tests-due-high-fever-state-news-agency-says-2024-05-19\/\" style=\"\" rel=\"noopener\">undergoing treatment<\/a> for lung inflammation. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WORTH READING- <\/strong>The <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/iran-government-future-raisi-khamenei-succession-mojtaba-6d3b970bce0c6d436b25b550d887ceaf\" style=\"\" rel=\"noopener\">AP<\/a> is out with a piece asking \u201cwhat\u2019s next for Iran\u2019s government?\u201d Among the questions is who among the hard-liners could step into the presidency.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND IN TECH NEWS- <\/strong>Microsoft <a target=\"_blank\" href=\"https:\/\/blogs.microsoft.com\/blog\/2024\/05\/20\/introducing-copilot-pcs\/\" style=\"\" rel=\"noopener\">announced<\/a> its Copilot+ PCs, which it is billing as \u201cthe fastest, most intelligent Windows PCs ever built\u201d \u2014 designed for AI, of course, as is the flavor of the day. The device will call on AI to perform tasks such as helping users recall things they have come across on their computer. Look for it to be available starting 18 June.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Wall Street Journal\u2019s Joanna Stern is no shill<\/strong>, and she\u2019s impressed, writing that the device \u2014 which she\u2019s had the chance to play with \u2014 left her thinking that <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/tech\/personal-tech\/microsoft-ceo-satya-nadella-interview-ai-laptops-76eef1e1\" style=\"\" rel=\"noopener\">\u201cWindows is exciting again.\u201d<\/a> The bottom line: \u201cThey\u2019ve got improved performance, battery life and enhanced AI features. Finally, Microsoft is promising some real competition to Apple\u2019s M-powered MacBooks.\u201d <a target=\"_blank\" href=\"https:\/\/www.theverge.com\/2024\/5\/20\/24160463\/microsoft-windows-laptops-copilot-arm-chips-m1\" style=\"\" rel=\"noopener\">The Verge\u2019s Tom Warren<\/a> has more.<\/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:\/\/dubai.tie.org\/\" style=\"\" rel=\"noopener\"><\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/dubai.tie.org\/\" style=\"\" rel=\"noopener\">TiE Women MENA Programme 2024<\/a><\/strong><strong> is now accepting applications until June 2024.<\/strong>The program supports women entrepreneurs across the region with mentorship, financial advice, workshops, and pitch coaching. Winners can earn up to USD 50k at the global finals and USD 25k at the finals in Dubai.<\/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 <\/strong><strong><a target=\"_blank\" href=\"https:\/\/mecollabevents.com\/middle-east-investors-summit-may-2024\/\" style=\"\" rel=\"noopener\">Middle East Investors Summit<\/a><\/strong><strong> i<\/strong><strong>s scheduled to be held between 27-28 May 2024 <\/strong>at the Rosewood Hotel on Al Maryah Island, Abu Dhabi. The event will focus on investment opportunities in the emerging tech digital assets and crypto, sports and entertainment sectors, with one of the key themes being the GCC\u2019s region growing influence as a business hub. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi-global-market\/\">Abu Dhabi Global Market<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/aviation\/\">Aviation<\/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\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92202\" 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=\"92202\">\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\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/21\/alef-education-plans-june-adx-debut\/\">\r\n                            Alef Education plans to sell 20% stake in ADX IPO                        <\/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\/21\/alef-education-plans-june-adx-debut\/\" 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\/21\/alef-education-plans-june-adx-debut\/')\">\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\/21\/alef-education-plans-june-adx-debut\/\">\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=Alef Education plans June ADX debut&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/21\/alef-education-plans-june-adx-debut\/\">\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\/21\/alef-education-plans-june-adx-debut\/&title=Alef Education plans June ADX debut\">\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=Alef+Education+plans+June+ADX+debut+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F21%2Falef-education-plans-june-adx-debut%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\/21\/alef-education-plans-june-adx-debut\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1337.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92203\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/21\/alef-education-plans-june-adx-debut\/1337-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1337.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1337.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1337.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1337.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92202\" class=\"content-area-description single-story post-92202 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-alef-education tag-edtech tag-education tag-enterpriseam-uae tag-ipo tag-ipo-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.c39fe610-45c6-47d6-b111-af4b830769f8.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Abu Dhabi-based edtech firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.alefeducation.com\/\" style=\"\" rel=\"noopener\">Alef Education<\/a><\/strong><strong> is planning to offer up to a 20% <\/strong><strong>stake (1.4 bn shares) in an IPO on the ADX<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1530.pdf\" style=\"\" rel=\"noopener\">prospectus (pdf)<\/a> published yesterday. This is set to be Abu Dhabi's first IPO of the year and the UAE's third. It follows the successful IPOs of Parkin, which raised <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/de573f5b-c1df-4b13-ba64-58e95fdfcffb\/%253cmark%253eparkin%253c%2Fmark%253e-share-price-rises-35%2525-on-market-debut\" style=\"\" rel=\"noopener\">AED 1.57 bn<\/a>, and Spinneys, which <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/65ee8d31-39fa-4506-ac4e-bdf3e240be04\/%253cmark%253espinneys%253c%2Fmark%253e-share-jump-on-market-debut\" style=\"\" rel=\"noopener\">raised AED 1.38 bn<\/a>, both driven by strong investor interest.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER- <\/strong>News of Alef listing on the Abu Dhabi bourse first broke in <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-07-20\/uae-edtech-firm-alef-education-is-said-to-consider-an-ipo\" style=\"\" rel=\"noopener\">July 2023<\/a>, when it reportedly held talks with advisors about the potential listing. The education firm has since <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/9e6ab588-7cbe-4ef7-acfb-97819fbace7d\/%253cmark%253ealef-education%253c%2Fmark%253e-moves-forward-with-planned-ipo\" style=\"\" rel=\"noopener\">tapped<\/a> our friends at EFG Hermes and First Abu Dhabi Bank (FAB) to work on the IPO.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s selling? <\/strong>Tech Nova Investment and Kryptonite Investments will be offering their shares in the IPO.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The book-building process starts next Tuesday 28 May, <\/strong>with the subscription period for retail investors concluding on 4 June. Institutional investors\u2019 subscription period will wrap a day later on 5 June. Some 92% of the shares on offer will be allocated to institutional investors, while 8% will go to retail investors. <strong>Shares are expected to begin trading on 12 June, <\/strong>according to the prospectus.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>First glimpse into Alef\u2019s earnings: <\/strong>The company reported AED 110 mn in net income and AED 177 mn in revenue in 1Q 2024, according to the disclosure. The company\u2019s revenues grew 12.4% y-o-y in 2023 to AED 750 mn in 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dividends: <\/strong>Alef is planning to pay shareholders a minimum dividend payout ratio of 90% of net income for both 2024 and 2025, and is targeting distributing no less than AED 135 mn annually for both years, according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1561.pdf\" style=\"\" rel=\"noopener\">intention to float (pdf)<\/a>. Dividends will be paid semi-annually, with payouts for the first-half results distributed to shareholders in 4Q of that year, and dividends for the second half paid in 2Q of the following calendar year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors: <\/strong><a target=\"_blank\" href=\"http:\/\/www.bankfab.com\/en-ae\/personal\" style=\"\" rel=\"noopener\">FAB<\/a> and <a target=\"_blank\" href=\"https:\/\/www.efghldg.com\/\" style=\"\" rel=\"noopener\">EFG Hermes<\/a> are acting as joint lead managers and joint bookrunners. FAB is also the listing advisor and lead receiving bank of the IPO, with <a target=\"_blank\" href=\"https:\/\/www.adib.ae\/en\" style=\"\" rel=\"noopener\">Abu Dhabi Islamic Bank<\/a>, <a target=\"_blank\" href=\"https:\/\/www.adcb.com\/en\/personal\/\" style=\"\" rel=\"noopener\">Abu Dhabi Commercial Bank<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.mbank.ae\/\" style=\"\" rel=\"noopener\">Al Maryah Community Bank<\/a> acting as receiving banks.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More on Alef: <\/strong>Founded in Abu Dhabi in 2016, Alef\u2019s flagship learning platform provides curated study plans for students using AI and machine learning tech, spanning several international markets, including the UAE, the US, Morocco and Indonesia. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- We have more IPOs in the pipeline: <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/e2feb924-f76a-4703-af1e-485f9061c6b2\/icd-backed-alec-taps-banks-ahead-of-planned-ipo\" style=\"\" rel=\"noopener\">Earlier this week<\/a>, construction firm Alec tapped advisors for an IPO on the DFM. Amanat Holdings is also reportedly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/a7487593-d87d-409f-8b7b-96601eda5c08\/expect-at-least-five-more-ipos-in-the-uae-this-year\" style=\"\" rel=\"noopener\">looking to list<\/a> either its education or healthcare unit, with reports that its healthcare unit could raise some USD 200 mn as soon as this year, while shisha producer Advanced Inhalation Rituals was said to be <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/mideasts-biggest-tobacco-firm-air-invites-banks-pitch-roles-ipo-sources-2023-07-04\/\" style=\"\" rel=\"noopener\">eyeing an IPO<\/a> in 1H 2024. Over on the ADX, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/c51b4ea9-069c-433b-a44a-d91139d4417f\" style=\"\" rel=\"noopener\">Etihad Airways<\/a>, and supermarket chain <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/fa864923-b630-428a-8983-899370e1ccb4\/lulu-moves-forward-with-planned-ipo\" style=\"\" rel=\"noopener\">LuLu group<\/a> have each tapped banks to advise on their transactions.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/alef-education\/\">Alef Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/edtech\/\">edtech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ipo\/\">IPO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ipo-watch\/\">IPO WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92204\" 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=\"92204\">\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\/21\/adnoc-acquires-11-7-stake-in-nextdecades-rio-grande-lng-project\/\">\r\n                            Adnoc acquires 11.7% stake in NextDecade's Rio Grande LNG project                        <\/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\/21\/adnoc-acquires-11-7-stake-in-nextdecades-rio-grande-lng-project\/\" 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\/21\/adnoc-acquires-11-7-stake-in-nextdecades-rio-grande-lng-project\/')\">\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\/21\/adnoc-acquires-11-7-stake-in-nextdecades-rio-grande-lng-project\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Adnoc acquires 11.7% stake in NextDecade's Rio Grande LNG project&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/21\/adnoc-acquires-11-7-stake-in-nextdecades-rio-grande-lng-project\/\">\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\/21\/adnoc-acquires-11-7-stake-in-nextdecades-rio-grande-lng-project\/&title=Adnoc acquires 11.7% stake in NextDecade's Rio Grande LNG project\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Adnoc+acquires+11.7%25+stake+in+NextDecade%27s+Rio+Grande+LNG+project+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F21%2Fadnoc-acquires-11-7-stake-in-nextdecades-rio-grande-lng-project%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\/21\/adnoc-acquires-11-7-stake-in-nextdecades-rio-grande-lng-project\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/163.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92205\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/21\/adnoc-acquires-11-7-stake-in-nextdecades-rio-grande-lng-project\/163-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/163.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"163.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/163.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/163.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92204\" class=\"content-area-description single-story post-92204 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-adnoc tag-energy tag-enterpriseam-uae tag-lng tag-ma-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.4fd52c16-d6d0-4200-be07-f79d398f5f9f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Adnoc snaps up minority stake in Texas LNG project:<\/strong> Abu Dhabi National Oil Company (Adnoc) acquired an 11.7% stake in the first phase of sustainable liquefied natural gas (LNG) producer NextDecade's USD 18 bn Rio Grande LNG export facility in Texas for an undisclosed sum, according to a <a target=\"_blank\" href=\"https:\/\/www.adnoc.ae\/en\/news-and-media\/press-releases\/2023\/adnoc-secures-equity-position-and-lng-offtake-agreement-in-nextdecades-rio-grande-lng-project\" style=\"\" rel=\"noopener\">statement<\/a>. The stake acquisition marks Adnoc\u2019s first investment in the US.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> Adnoc bought a stake in the first phase, which includes the first three liquefaction trains in the facility, from Global Infrastructure Partners (GIP). NexDecade retained its share in Phase 1 alongside its shares in the the fourth and fifth proposed trains, with Adnoc having the option to buy into these. The new trains are expected to bring the facility to a full production capacity of 27 mn tonnes of LNG annually. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Adnoc and NextDecade also inked a 20-year offtake agreement<\/strong>, under which Adnoc will receive 1.9 mn tons of LNG annually from the project's planned Train 4 on a free-on-board basis, with the price indexed to the monthly Henry Hub benchmark. This arrangement is contingent on NextDecade's final investment decision regarding the construction of Train 4, expected in 2H 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We knew this was coming:<\/strong> Reuters reported in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/9b82da7f-5abf-4706-9357-0842a9172fa5\/adnoc-eyes-more-lng-expansion#:~:text=%231%2D%20Adnoc%20is,the%20sources%20said.\" style=\"\" rel=\"noopener\">March<\/a> that Adnoc was in talks over an offtake agreement from NextDecade for the fourth unit of its USD 18 bn Rio Grande LNG facility. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hailed as a \u201csignificant milestone in Adnoc\u2019s international growth strategy,\u201d<\/strong> the acquisition will provide the oil giant access to the US, \u201cone of the world\u2019s top LNG export markets,\u201d Musabbeh Al Kaabi, Adnoc\u2019s executive director for international growth said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI #1- Adnoc has been planning to enter the US market for some time now<\/strong>, and is currently looking to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/edition\/am\/dc357713-1c86-473c-8754-d643af44d5b5\/alec-moves-forward-with-ipo-plans#:~:text=%233%2D%20Adnoc%20to,sources%20told%20Reuters.\" style=\"\" rel=\"noopener\">set up a trading desk<\/a> in the US as part of its global expansion plans. The oil giant is also mulling <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/bcadac82-4d60-45bb-8908-ab7deb30dc3f\/plenty-of-help-from-the-gov%25e2%2580%2599t-for-the-aftermath-of-the-storm#:~:text=%232%2D%20Adnoc%20eyes,beyond%20crude%20oil.\" style=\"\" rel=\"noopener\">a stake acquisition in AmeriGas<\/a>, the propane distribution unit of US utility holding company UGI Corp, through its subsidiary Adnoc Distribution, as part of plans to diversify away from oil. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI #2- Adnoc also has plans to ramp up LNG capacity to 15 mn tonnes per year by 2028<\/strong>, up from the current 6 mn tonnes, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/adnoc-buys-stake-nextdecades-rio-grande-lng-inks-supply-deal-2024-05-20\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adnoc\/\">Adnoc<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/lng\/\">LNG<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92206 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=\"92206\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/21\/92206-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92206\" class=\"content-area-description single-story post-92206 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.mashreq.com\/en\/uae\/about-us\/our-company\/awards-accolades\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/945.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92207\" 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=\"92207\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/21\/mubadala-snaps-up-49-stake-in-spanish-pipes-manufacturer\/\">\r\n                            Mubadala snaps up 49% stake in Spanish pipes manufacturer                        <\/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\/21\/mubadala-snaps-up-49-stake-in-spanish-pipes-manufacturer\/\" 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\/21\/mubadala-snaps-up-49-stake-in-spanish-pipes-manufacturer\/')\">\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\/21\/mubadala-snaps-up-49-stake-in-spanish-pipes-manufacturer\/\">\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=Mubadala snaps up 49% stake in Spanish pipes manufacturer&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/21\/mubadala-snaps-up-49-stake-in-spanish-pipes-manufacturer\/\">\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\/21\/mubadala-snaps-up-49-stake-in-spanish-pipes-manufacturer\/&title=Mubadala snaps up 49% stake in Spanish pipes manufacturer\">\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=Mubadala+snaps+up+49%25+stake+in+Spanish+pipes+manufacturer+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F21%2Fmubadala-snaps-up-49-stake-in-spanish-pipes-manufacturer%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\/21\/mubadala-snaps-up-49-stake-in-spanish-pipes-manufacturer\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1576.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92208\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/21\/mubadala-snaps-up-49-stake-in-spanish-pipes-manufacturer\/1576-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1576.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1576.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1576.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1576.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92207\" class=\"content-area-description single-story post-92207 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-carbon-emissions tag-energy tag-enterpriseam-uae tag-investment tag-japan tag-ma-watch tag-mubadala tag-oil-and-gas tag-solar-energy 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\/.22584296-4591-4176-a5d9-5b00831dd036.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Mubadala acquires a stake in Spanish tubular solutions business: <\/strong>Mubadala signed an agreement to acquire a 49% stake in Spain-based pipe manufacturer <a target=\"_blank\" href=\"https:\/\/www.tubacex.com\/en\/\" style=\"\" rel=\"noopener\">Tubacex<\/a> 's tubular solutions business for oil and gas exploration and production (OCTG) for USD 150 mn, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1637.pdf\" style=\"\" rel=\"noopener\">filing (pdf)<\/a> to Spain\u2019s National Securities Market Commission CNMV.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Abu Dhabi sovereign wealth fund will also invest in Tubacex's <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.tubacex.com\/en\/tubacex-signs-land-lease-agreement-for-octg-cra-tubes-manufacturing-plant-in-abu-dhabi\/\" style=\"\" rel=\"noopener\">new OCTG factory in Abu Dhabi<\/a><\/strong> as part of the agreement, the disclosure adds. The plant will provide pipe finishing and threading operations, specializing in rust and corrosion-resistant steel pipes, with operations expected to kick off by year's end.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mubadala has been upping its assets as of late:<\/strong> The state investor logged a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/2b00c406-71b0-4bcc-b5ef-44e569c4c2cb\/mubadala-reaches-aed-1.1-tn-in-assets-under-management-%2B-takaful-emarat-posts-1q-results\" style=\"\" rel=\"noopener\">9.5% y-o-y rise<\/a> in its assets under management to AED 1.11 tn in 2023, making it the second largest state fund in Abu Dhabi, after the Abu Dhabi Investment Authority. Mubadala increased its investments in new sectors \u2014 including AI, technology, life sciences, clean energy, and private credit \u2014 during the year, and steered investments towards North America, Asia, and Europe.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tubacex is no stranger to the UAE: <\/strong>The Spanish company received its largest order back in <a target=\"_blank\" href=\"https:\/\/www.tubacex.com\/en\/tubacex-secures-its-largest-ever-award-worth-in-excess-of-30000-tons-with-adnoc\/\" style=\"\" rel=\"noopener\">June 2022<\/a> from the Abu Dhabi National Oil Company, which ordered some 30k tonnes of corrosion-resistant alloys OCTG solutions for gas extraction to be supplied over a decade. <\/p>\n<p class=\"tag-border-left\"> OTHER MUBADALA NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mubadala backs clean energy in the Asia Pacific region: <\/strong>Abu Dhabi state investor Mubadala has made its first investment in Japan\u2019s clean energy sector, committing an undisclosed amount to Asia-Pacific investment firm PAG\u2019s newly set up renewable energy fund PAG REN I, it said in a <a target=\"_blank\" href=\"https:\/\/www.mubadala.com\/en\/news\/mubadala-makes-first-renewable-energy-investment-in-japan\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. The investment seeks to support Japan in installing 108 GW of solar capacity by 2030, and reducing carbon emissions and reliance on imported fuels in line with emission reduction targets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About PAG REN I: <\/strong>The USD 550 mn fund targets investments in physical assets in Asia, with a focus on solar power in Japan, according to a <a target=\"_blank\" href=\"https:\/\/www.pag.com\/en\/pag-closes-first-renewable-energy-focused-fund\" style=\"\" rel=\"noopener\">statement<\/a> by PAG yesterday. It includes pensions, sovereign wealth funds and fund-of-funds investors in North America, Europe and the Middle East.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/carbon-emissions\/\">carbon emissions<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment\/\">investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/japan\/\">Japan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/mubadala\/\">Mubadala<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/solar-energy\/\">solar energy<\/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=\"92209\" 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=\"92209\">\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\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/21\/the-imf-now-sees-the-economy-growing-4-this-year\/\">\r\n                            The IMF now sees the economy growing 4% this year                        <\/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\/21\/the-imf-now-sees-the-economy-growing-4-this-year\/\" 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\/21\/the-imf-now-sees-the-economy-growing-4-this-year\/')\">\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\/21\/the-imf-now-sees-the-economy-growing-4-this-year\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The IMF now sees the economy growing 4% this year&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/21\/the-imf-now-sees-the-economy-growing-4-this-year\/\">\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\/21\/the-imf-now-sees-the-economy-growing-4-this-year\/&title=The IMF now sees the economy growing 4% this year\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+IMF+now+sees+the+economy+growing+4%25+this+year+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F21%2Fthe-imf-now-sees-the-economy-growing-4-this-year%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\/21\/the-imf-now-sees-the-economy-growing-4-this-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/895.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92210\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/21\/the-imf-now-sees-the-economy-growing-4-this-year\/895-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/895.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"895.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/895.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/895.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92209\" class=\"content-area-description single-story post-92209 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam-uae tag-gdp tag-imf 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\/.5afd69cd-7a44-4303-b273-2ef72861c17b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The International Monetary Fund (IMF) has revised upward its 2024 growth <\/strong><strong>forecast for the UAE to 4% <\/strong>in its latest <a target=\"_blank\" href=\"https:\/\/www.imf.org\/en\/News\/Articles\/2024\/05\/18\/pr24137-imf-staff-completes-2024-article-iv-mission-to-united-arab-emirates#:~:text=Overall%20real%20GDP%20is%20projected,of%20relatively%20high%20oil%20prices.\" style=\"\" rel=\"noopener\">end of mission statement<\/a>, following its visit to the UAE earlier this month. The fund had previously penciled in 3.5% growth for 2024 in its World Economic Update report in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/3a56ec62-5cf0-4c1c-92f6-8c7e54cdbbbf\/imf-sees-the-uae'\" style=\"\" rel=\"noopener\">April<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The IMF\u2019s revised prediction comes on the back of increased domestic activity in tourism, construction, and financial services sectors<\/strong>, as well as foreign demand for real estate and improved bilateral ties \u201cadding to ample domestic liquidity\u201d by driving housing prices and rentals up.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE\u2019s diversification away from oil is also to thank,<\/strong> with accelerated public and private investments and reforms in areas such as renewable energy and technology expected to boost growth further, and buffer against geopolitical shocks, the IMF said. Still, an increased hydrocarbon GDP is expected to contribute to economic growth, driven by higher crude oil production from the UAE\u2019s OPEC+ quota increase.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The IMF predicts inflation will trend close to 2.0% in 2024,<\/strong> representing a slight downward revision from the 2.1% annual inflation rate it had forecasted for 2024 back in April. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The fund expects the UAE\u2019s current account surplus to come in at 9% this year <\/strong>\u2014 a few notches above the 7.8% that was projected in April due to high oil prices. The general government surplus is projected to land at 5% of GDP by the year\u2019s end, while public debt is slated to decline to 30% with active debt management strategies. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/economy\/\">Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/imf\/\">IMF<\/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=\"92211\" 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=\"92211\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/21\/tadweer-and-dubal-holding-fully-acquire-e-waste-firm-enviroserve\/\">\r\n                            Tadweer and Dubal Holding fully acquire e-waste firm Enviroserve                        <\/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\/21\/tadweer-and-dubal-holding-fully-acquire-e-waste-firm-enviroserve\/\" 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\/21\/tadweer-and-dubal-holding-fully-acquire-e-waste-firm-enviroserve\/')\">\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\/21\/tadweer-and-dubal-holding-fully-acquire-e-waste-firm-enviroserve\/\">\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=Tadweer and Dubal Holding fully acquire e-waste firm Enviroserve&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/21\/tadweer-and-dubal-holding-fully-acquire-e-waste-firm-enviroserve\/\">\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\/21\/tadweer-and-dubal-holding-fully-acquire-e-waste-firm-enviroserve\/&title=Tadweer and Dubal Holding fully acquire e-waste firm Enviroserve\">\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=Tadweer+and+Dubal+Holding+fully+acquire+e-waste+firm+Enviroserve+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F21%2Ftadweer-and-dubal-holding-fully-acquire-e-waste-firm-enviroserve%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\/21\/tadweer-and-dubal-holding-fully-acquire-e-waste-firm-enviroserve\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1589.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92212\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/21\/tadweer-and-dubal-holding-fully-acquire-e-waste-firm-enviroserve\/1589-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1589.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1589.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1589.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1589.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92211\" class=\"content-area-description single-story post-92211 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-enterpriseam-uae tag-ma-watch tag-tadweer tag-waste-management 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\/.f59efbaf-16e3-425a-8c93-9138861a2370.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Tadweer Group + Dubal Holding to assume equal ownership of Enviroserve:&nbsp;<\/strong>Abu Dhabi-based waste management company Tadweer Group and investment firm <a target=\"_blank\" href=\"https:\/\/dubalholding.ae\/\" style=\"\" rel=\"noopener\">Dubal Holding<\/a> have acquired 100% of Dubai e-waste specialist <a target=\"_blank\" href=\"https:\/\/enviroserve.org\/\" style=\"\" rel=\"noopener\">Enviroserve<\/a>, with each taking an equal 50% stake<strong>,<\/strong> according to a <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/economy\/tadweer-group-and-dubal-holding-acquire-enviroserve\/\" style=\"\" rel=\"noopener\">press release<\/a>. Enviroserve is the only integrated e-waste processor in the Middle East, Africa, and the Caucasus region, and is known for recycling electrical and electronic equipment waste, the statement notes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Enviroserve has a massive e-waste recycling facility in Dubai Industrial City:<\/strong> The company <a target=\"_blank\" href=\"https:\/\/www.edgemiddleeast.com\/news\/618785-enviroserve-opens-worlds-largest-e-waste-facility\" style=\"\" rel=\"noopener\">established<\/a> The Recycling Hub, the world\u2019s largest e-waste recycling facility, at Dubai Industrial Park in 2019. Spanning 280k sq feet, the AED 120 mn facility is able to process 100k tons of waste annually, including 39k tons of e-waste. The project is backed by the Swiss Government Export Finance Agency and handles waste such as consumer electronics and military avionics as well as refrigerant gas, aerosol cans, and light bulbs. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubal has been showing interest in green projects too: <\/strong>Dubal is an investor in Warsan Waste Management, where it is part of a consortium building one of the world\u2019s largest single-site waste-to-energy facilities, according to its <a target=\"_blank\" href=\"https:\/\/dubalholding.ae\/investments\/energy\/\" style=\"\" rel=\"noopener\">website<\/a>. The firm also has a <a target=\"_blank\" href=\"https:\/\/dubalholding.ae\/investments\/commodity-and-mining\/\" style=\"\" rel=\"noopener\">50% share in Emirates Global Aluminum<\/a> \u2014 a giant UAE aluminum manufacturer that has been working to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/aaa9fe32-5ecc-4631-985c-e68222196983\/ega-breaks-ground-on-the-region'\" style=\"\" rel=\"noopener\">decarbonize<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/e1e65a52-2469-4ea8-903c-d6ebcc50244d\/world%25e2%2580%2599s-largest-microgrid-bess-comes-online-%2B-algeria-aims-for-more-wte-projects\" style=\"\" rel=\"noopener\">recycle<\/a> its production line. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/tadweer\/\">Tadweer<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/waste-management\/\">waste management<\/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=\"92213\" 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=\"92213\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/21\/shuaa-to-issue-bonds-for-capital-optimization-emirates-islamic-taps-banks-for-sukuk\/\">\r\n                            Shuaa to issue bonds for capital optimization + Emirates Islamic taps banks for sukuk                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/21\/shuaa-to-issue-bonds-for-capital-optimization-emirates-islamic-taps-banks-for-sukuk\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The bond issuances are pending regulatory approvals, with conversion valuations to be set by an independent financial advisor.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown:<\/strong> Shuaa plans to issue AED 367 mn (USD 99.92 mn) in MCBs through a private placement, according to the filing. The investment bank also plans to issue up to AED 275.5 mn (USD 75.01 mn) in MCBs by 31 March 2025, offered to current bondholders of the outstanding bonds issued by a special purpose vehicle owned by Shuaa.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is not the first time we hear about a bond issuance:<\/strong> Shuaa Capital has been <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/8ef14e87-03e1-4f37-958f-5fd486e0f171\/%253cmark%253eshuaa%253c%2Fmark%253e-capital-eyes-aed-250-mn-bonds-to-settle-debt-repayments-%25e2%2580%2593report\" style=\"\" rel=\"noopener\">reportedly<\/a> looking at raising AED 250 mn in bonds to meet senior debt obligations and settle unsecured bonds as part of a wider restructuring program. The company is reportedly eyeing a shortlist of \u201cqualified investors.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The investment bank also has a new CEO:<\/strong> Shuaa\u2019s board also appointed Wafik Ben Mansour (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/wafik-ben-mansour-40a8253\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as its CEO, according to the statement. Ben Mansour was appointed acting CEO back in November.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>Shuaa has been undergoing major restructuring after substantial losses in 2023. Shuaa reached an agreement with bondholders in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/45e7e740-359e-4d17-9f86-21bf01480bbd\/%253cmark%253eshuaa%253c%2Fmark%253e-capital-restructures-usd-150-mn-debt\" style=\"\" rel=\"noopener\">April<\/a> to extend the payment terms for some USD 150 mn worth of bonds, and appointed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/b5114566-9a3a-4b31-86e9-e02471193f87\/%253cmark%253eshuaa%253c%2Fmark%253e-capital-%2B-sharjah-ins.-have-new-chairmen\" style=\"\" rel=\"noopener\">a new management team<\/a> as part of its capital optimization plan. The investment bank has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/e33d7c44-7bde-4408-8c04-f02f0307d15a\/%253cmark%253eshuaa%253c%2Fmark%253e-capital-settles-aed-500-mn-debt\" style=\"\" rel=\"noopener\">fully settled<\/a> around AED 500 mn (USD 136 mn) in margin facilities with multiple UAE banks. <\/p>\n<p class=\"tag-border-left\">OTHER DEBT NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emirates Islamic taps banks for debut sustainability-linked sukuk:<\/strong> Emirates Islamic has appointed Emirates NBD Capital and Standard Chartered Bank as joint global coordinators for its debut benchmark sized USD-denominated senior sustainability-linked sukuk, according to a document seen by <a target=\"_blank\" href=\"https:\/\/www.xm.com\/ar\/research\/markets\/allNews\/reuters\/emirates-islamic-bank-taps-market-for-debut-sustainability-sukuk-53842004\" style=\"\" rel=\"noopener\">Reuters<\/a>. The issuance will be under Emirates Islamic\u2019s USD 2.5 bn certificate issuance program. Investor calls kicked off yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Benchmark-sized? <\/strong>A \u201cbenchmark sized\u201d issuance is usually at a minimum valued at USD 500 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The lender also tapped <\/strong><strong>our<\/strong><strong> friends at First Abu Dhabi Bank<\/strong>, as well as Abu Dhabi Islamic Bank, Dubai Islamic Bank, and The Islamic Corporation For The Development of the Private Sector to act as joint lead managers and joint bookrunners for the transaction. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><b>**CLARIFICATION- <\/b>An old version of this article did not mention Emirates Islamic's sukuk were sustainability-linked. We've amended the story accordingly.&nbsp;<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt-watch\/\">DEBT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/shuaa-capital\/\">Shuaa Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92215\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n    <div class=\"issue-sponsor-slides-div\">\r\n        \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/43010.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.mashreq.com\/en\/uae\/neo\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/20607.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Rise every day<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/43009.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/hap.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/117160.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>From OUR FAMILY to YOURS<\/span>\r\n                <\/div>\r\n            <\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92216\" 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=\"92216\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/21\/energy-ministry-etihad-we-launch-ev-fast-charging-network\/\">\r\n                            Energy ministry, Etihad WE launch EV fast charging network                        <\/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\/21\/energy-ministry-etihad-we-launch-ev-fast-charging-network\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The JV, dubbed UAEV, is the first state-owned EV charging network. It seeks to meet the heightened demand for EV infrastructure in the UAE, and boost EV adoption to edge the country in reducing greenhouse gas emissions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>Further information about the JV\u2019s plans will be announced by the end of 2024.<\/p>\n<p class=\"tag-border-left\">NBFS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai-based fintech <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.dkkpartners.com\/\" style=\"\" rel=\"noopener\">DKK Partners<\/a><\/strong><strong> partnered with the private office of Sheikh Saeed Bin <\/strong><strong>Ahmed Al Maktoum&nbsp;<\/strong><a target=\"_blank\" href=\"https:\/\/seedgroup.com\/\" style=\"\" rel=\"noopener\">Seed Group<\/a> on forex risk management, liquidity solutions, and expedited collections, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/dkk-partners-joins-forces-with-a-company-of-the-royal-family-of-dubai-seed-group-nwswoux3\" style=\"\" rel=\"noopener\">press<\/a><a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/dkk-partners-joins-forces-with-a-company-of-the-royal-family-of-dubai-seed-group-nwswoux3\" style=\"\" rel=\"noopener\">release<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> DKK Partners <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f42feca1-252f-4c54-8b05-3beec3b34c16\/tons-of-property-agreements-at-ajman%25e2%2580%2599s-real-estate-exhibition-%2B-we-have-the-uae%25e2%2580%2599s-first-sports-scholarship-program\" style=\"\" rel=\"noopener\">secured<\/a> preliminary approval from Dubai\u2019s Virtual Assets Regulatory Authority in February to offer its blockchain technologies to crypto investors.<\/p>\n<p class=\"tag-border-left\">DEFENSE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Edge-Fincantieri JV established:<\/strong> Abu Dhabi\u2019s Crown Prince has formalized the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/9d090020-dde1-41e9-9703-91e81f35022f\/edge-forms-eur-30-bn-vessel-manufacturing-jv-with-italy%25e2%2580%2599s%253cmark%253e-fincantieri%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">previously<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/9d090020-dde1-41e9-9703-91e81f35022f\/edge-forms-eur-30-bn-vessel-manufacturing-jv-with-italy%25e2%2580%2599s%253cmark%253e-fincantieri%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">announced<\/a> joint venture between defense conglomerate Edge Group and Italian shipbuilding giant Fincantieri to manufacture advanced naval vessels, with a commercial pipeline valued at EUR 30 bn, according to the <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/security\/khaled-bin-mohamed-bin-zayed-witnesses-signing-ceremony-formalising-edge-group-and-fincantieri-shipbuilding-joint-venture-maestral\/\" style=\"\" rel=\"noopener\">Abu Dhabi Media Office<\/a>. To christen the agreement, the UAE Coast Guard Forces made a EUR 400 mn order for 10 offshore patrol vessels. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ownership breakdown:<\/strong> Edge will own 51% of the JV, while Fincantieri will own the remaining balance, alongside managing operations of the company.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- French defense tech company <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.army-technology.com\/contractors\/electronic\/atermes\/\" style=\"\" rel=\"noopener\">Atermes<\/a><\/strong><strong> will open its regional headquarters in Dubai<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.tradearabia.com\/news\/IND_422250.html\" style=\"\" rel=\"noopener\">Trade Arabia<\/a> writes. Atermes will also participate in <a target=\"_blank\" href=\"https:\/\/www.isnrabudhabi.com\/\" style=\"\" rel=\"noopener\">ISNR Abu Dhabi 2024<\/a> taking place between 21-23 May at Adnec.<\/p>\n<p class=\"tag-border-left\"> TRANSPORT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Archer + Etihad to train air taxi pilots:<\/strong> Electric flying car manufacturer Archer Aviation inked a partnership agreement with Etihad Training to recruit and train a fleet of pilots to operate electric vertical takeoff and landing (eVTOL) aircraft, according to a <a target=\"_blank\" href=\"https:\/\/www.investors.archer.com\/news\/news-details\/2024\/Archer-Aviation-Partners-With-Etihad-Aviation-Training-For-eVTOL-Pilot-Training-Operations-Based-In-Abu-Dhabi\/default.aspx#:~:text=%E2%80%9CTraining%20a%20fleet%20of%20pilots,Chief%20Commercial%20Officer%2C%20Nikhil%20Goel.\" style=\"\" rel=\"noopener\">press release<\/a>. Under the partnership, California-based Archer will provide an aircraft simulator to Etihad Training at its training center in Abu Dhabi, while Etihad will oversee the training of potential pilots and collaborate with the General Civil Aviation Authority and other local authorities to \u201cestablish an appropriate pilot training curriculum,\u201d the press release reads.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Air taxis are expected to take off in Abu Dhabi and Dubai as soon as next year. Abu Dhabi-headquartered aviation services provider Falcon Aviation inked an agreement with Archer to launch Falcon\u2019s air taxi services between the two emirates by 2025. Meanwhile, Dubai's Road and Transport Authority inked an agreement in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/c9da5c2f-75c5-47ca-8ad5-4611bf95779e\" style=\"\" rel=\"noopener\">February<\/a> with electric aircraft developer Joby Aviation to launch air taxi services in the UAE by early 2026, with initial operations as early as 2025.<\/p>\n<p class=\"tag-border-left\"> STARTUPS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Plain Tiger raises undisclosed seed funding from AngelSpark:<\/strong> Dubai-based B2B marketplace <a target=\"_blank\" href=\"https:\/\/plaintiger.co\/\" style=\"\" rel=\"noopener\">Plain Tiger<\/a> has secured an undisclosed funding amount from VC AngelSpark as part of its USD 1.5 mn seed round, according to a <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2024\/05\/plain-tiger-secures-investment-angelspark#:~:text=The%20investment%20is%20part%20of,pathway%20to%20net%20zero%20procurement.\" style=\"\" rel=\"noopener\">press release<\/a>. The e-commerce startup will use the proceeds to fund its expansion plan in Saudi Arabia and develop its marketplace technology, aiming to assist more hotels to lower their carbon footprint through sustainable product procurement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Plain Tiger:<\/strong> Founded in 2021, Plain Tiger enables hotels to transition to sustainable supply chains cost-effectively by connecting them with over 300 eco-friendly suppliers and providing access to verified suppliers and ESG data, helping hotels reduce their environmental impact. <\/p>\n<p class=\"tag-border-left\">WATER-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sewa completes Al Hafiya lake water connection: <\/strong>Sharjah Electricity, Water, and Gas Authority (Sewa) has developed a water pumping station and extended 4 km of water lines for the Al Hafiya lake project in Kalba, with a total value of AED 27 mn, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b38xvzk-sewa-provides-services-for-hafiya-lake-kalba\" style=\"\" rel=\"noopener\">Wam<\/a> reports. Sewa has also constructed an underground water tank at Al Hafiya with a capacity to hold 500k gallons of water. <\/p>\n<p class=\"tag-border-left\">TOURISM-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Umm Al Quwain\u2019s tourism department inked an agreement with <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.millenniumhotels.com\/?utm_source=google&amp;utm_medium=cpc&amp;utm_campaign=Global&amp;utm_content=millennium%20hotels%20and%20resorts&amp;utm_term=external&amp;gad_source=1&amp;gclid=Cj0KCQjw6auyBhDzARIsALIo6v-ikpE7rAjqUKxUWq2-VfvZ27b5LxxS4vWh4-7xkEzxWvC26Sy8eMMaAunAEALw_wcB&amp;gclsrc=aw.ds\" style=\"\" rel=\"noopener\">Millennium Hotels and<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.millenniumhotels.com\/?utm_source=google&amp;utm_medium=cpc&amp;utm_campaign=Global&amp;utm_content=millennium%20hotels%20and%20resorts&amp;utm_term=external&amp;gad_source=1&amp;gclid=Cj0KCQjw6auyBhDzARIsALIo6v-ikpE7rAjqUKxUWq2-VfvZ27b5LxxS4vWh4-7xkEzxWvC26Sy8eMMaAunAEALw_wcB&amp;gclsrc=aw.ds\" style=\"\" rel=\"noopener\">Resorts<\/a><\/strong><strong> to improve tourism prospects<\/strong> in the emirate through the mutual exchange of expertise on tourism, hospitality and entertainment, <a target=\"_blank\" href=\"https:\/\/tradearabia.com\/news\/TTN_422237.html\" style=\"\" rel=\"noopener\">Trade Arabia<\/a> reports.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                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href=\"https:\/\/enterpriseam.com\/uae\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/umm-al-quwain\/\">Umm Al Quwain<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/water\/\">water<\/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=\"92218\" 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=\"92218\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/21\/top-us-official-voices-opposition-to-global-wealth-tax\/\">\r\n                            Top US official voices opposition to global wealth tax                        <\/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 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<\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/21\/top-us-official-voices-opposition-to-global-wealth-tax\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1592.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92219\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/21\/top-us-official-voices-opposition-to-global-wealth-tax\/1592-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1592.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1592.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1592.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1592.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92218\" class=\"content-area-description single-story post-92218 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam-uae tag-planet-finance tag-tax tag-us 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\/.993ec6c0-2bcb-4a07-b24c-65f9aec7679e.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The US stands opposed to a global wealth tax: <\/strong>US Treasury Secretary Janet Yellen has made it clear that the US will not be backing a unified global wealth tax during upcoming G7 ministerial discussions, she told the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/politics\/policy\/a-global-tax-on-billionaires-janet-yellen-says-no-cdb22e2f?mod=hp_lead_pos2\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s a case to be made in favor of such a tax:<\/strong> Officials from Brazil, France, Spain, Germany, and South Africa have been mulling a proposal that would require bn\u2019aires to part with at least 2% of their overall wealth annually, arguing that a global tax would prevent the super-wealthy from shifting their assets to overseas tax havens and help address the widening income inequality.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Yellen thinks otherwise:<\/strong> \u201cWe believe in progressive taxation. But the notion of some common global arrangement for taxing b\u2019naires with proceeds redistributed in some way \u2014 we\u2019re not supportive of a process to try to achieve that. That\u2019s something we can\u2019t sign on to,\u201d Yellen said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where the US currently stands:<\/strong> While the US already taxes its citizens on the global income they earn \u2014 which hampers efforts to avoid taxation by moving assets abroad \u2014 the concept of an annual tax on an individual\u2019s net worth remains off the table. Meanwhile, the Supreme Court is expected to soon address the constitutionality of wealth taxes \u2014 its decision could significantly impact future tax policy in the country.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- We\u2019re nearing the end of an era at JPMorgan <\/strong>as Jamie Dimon, 68, \u201csignaled retirement is closer than ever, striking a key change in messaging during the bank\u2019s investor day. \u201cThe timetable isn\u2019t five years anymore,\u201d he said, per <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/05\/20\/jpmorgan-ceo-jamie-dimon-retirement-approaching.html\" style=\"\" rel=\"noopener\">CNBC<\/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>And for our fellow Finance Bros of a Certain Age\u2122: Ivan Boesky has died at age 87. <\/strong>The American trader came to personify the excesses of arbitrage and insider trade in the 1980s, ultimately pleading guilty to conspiracy charges that signaled the unraveling of the \u201cgreed is good\u201d era on Wall Street. Boesky became famous for paying massive sums for inside information that allowed him to structure trades. His case prompted the US securities regulator to properly define insider trading for the first time. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fast fact: <\/strong>A commencement speech on the power of greed that Boesky delivered became the inspiration for the \u201cgreed is good\u201d line attributed to the character Gordon Gecko in Oliver Stone\u2019s Wall Street. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>See obituaries in <\/strong>the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/fb1f730b-141d-4a38-a867-da2403823566\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/05\/20\/business\/ivan-f-boesky-dead.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/finance\/regulation\/ivan-boesky-convicted-in-1980s-insider-trading-scandals-dies-0f324945\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>.<\/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>Wall Street cheered Microsoft\u2019s new \u201cAI\u201d PC line<\/strong>, sending the tech-heavy Nasdaq to a record high yesterday, but Asian markets are nonplussed, with all but the Nikkei down in early trading this morning. European and US equities futures were down slightly overnight. <\/p>\n<p><a target=\"_blank\" id=\"t.4b466a58adcd35b675e8acf989a436f0dca48b15\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p>\n<div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,038<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: -5.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,067<\/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: -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>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\">3,511<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6% (YTD: -8.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : AED<\/strong><strong> CBUAE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 3.67<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 3.67<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EIBOR<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.1% 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\">5.5% 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\">12,125<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: +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\">27,229<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: +9.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,308<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +11.3%)<\/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\">8,424<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +8.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,074<\/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: +12.2%)<\/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>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 83.71<\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.74<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,431<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 69,123<\/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\">+4.5% (YTD: +64.1%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ADX remained flat yesterday<\/strong> on turnover of AED 1 bn. The index is down 5.6% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Gulf Cement (+15%), Emirates Stallions Group (+8.9%) and Adnoc Logistics and Services (+3.8%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Ooredoo (-9.3%), National Corporation for Tourism and Hotels (-5.2%) and Hayah Insurance Company (-4.2%). <\/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 also stayed flat, on turnover of AED 405.4 mn. Meanwhile Nasdaq Dubai closed up 0.6%.<\/p>\n<p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Orascom Construction approved a dividend payout of USD 0.20 per share for 2023<\/strong>, which will be paid out in August 2024 according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1539.pdf\" style=\"\" rel=\"noopener\">Nasdaq Dubai disclosure (pdf)<\/a>. The board will determine the record and payment dates in July 2024, with dividends paid in USD to Nasdaq Dubai shareholders and in EGP (based on the USD\/EGP exchange rate announced by the Central Bank of Egypt) to Egyptian Exchange shareholders.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/tax\/\">tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/us\/\">US<\/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=\"92220\" 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=\"92220\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/21\/fm-boosts-ties-with-chile-brazil\/\">\r\n                            FM boosts ties with Chile, Brazil                        <\/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\/21\/fm-boosts-ties-with-chile-brazil\/\" 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\/21\/fm-boosts-ties-with-chile-brazil\/')\">\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\/21\/fm-boosts-ties-with-chile-brazil\/\">\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=FM boosts ties with Chile, Brazil&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/21\/fm-boosts-ties-with-chile-brazil\/\">\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\/21\/fm-boosts-ties-with-chile-brazil\/&title=FM boosts ties with Chile, Brazil\">\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=FM+boosts+ties+with+Chile%2C+Brazil+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F21%2Ffm-boosts-ties-with-chile-brazil%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\/21\/fm-boosts-ties-with-chile-brazil\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1607.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92221\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/21\/fm-boosts-ties-with-chile-brazil\/1607-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1607.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1607.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1607.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1607.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92220\" class=\"content-area-description single-story post-92220 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-aid tag-brazil tag-congo tag-diplomacy tag-enterpriseam-uae tag-foreign-minister tag-gaza 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\/.94b882d1-6412-4b86-a217-16e90ac482d3.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Foreign Affairs Minister Sheikh Abdullah bin Zayed explored mutual cooperation with his<\/strong><strong> Brazilian counterpart <\/strong>in a phone call on Sunday, according to an <a target=\"_blank\" href=\"https:\/\/x.com\/OFMUAE\/status\/1792238971315011930\" style=\"\" rel=\"noopener\">X post<\/a> by the Foreign Minister\u2019s office. The minister also expressed his condolences for flood victims in Brazil.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The minister also held a phone call with his Chilean counterpart, Alberto van Klaveren, to discuss boosting economic, trade, investment, and renewable energy cooperation<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b38xw2g-abdullah-bin-zayed-chilean-counterpart-discuss\" style=\"\" rel=\"noopener\">Wam<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND-<\/strong><strong>President Sheikh Mohammed bin Zayed Al Nahyan&nbsp;<\/strong><strong>discussed further <\/strong><strong>developmental, economic, and commercial cooperation with his Congolese counterpart, <\/strong>F\u00e9lix Tshisekedi, during a phone call on Sunday, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/13x8fv6-uae-president-receives-phone-call-from-president\" style=\"\" rel=\"noopener\">Wam<\/a> reported separately. <\/p>\n<p class=\"tag-border-left\">OTHER DIPLOMACY NEWS-<\/p>\n<ul>\n<li><strong>UAE-sponsored aid convoy reaches Gaza from Cyprus: <\/strong>A shipment carrying 252 tonnes of food for Gaza reached the enclave earlier this week, after departing from Cyprus\u2019 Larnaca port. (<a target=\"_blank\" href=\"https:\/\/www.mofa.gov.ae\/en\/mediahub\/news\/2024\/5\/19\/19-5-2024-uae-gaza\" style=\"\" rel=\"noopener\">MoFA<\/a>)<\/li>\n<li><strong>Energy and Infrastructure Minister Suhail Mohamed Al Mazrouei led the <\/strong><strong>UAE delegation to the World Water Forum <\/strong>in Indonesia, where he delivered a statement highlighting the UAE\u2019s efforts to achieve global and domestic water security. (<a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b38xvlf-suhail-mazrouei-heads-uae-delegation-world-water\" style=\"\" rel=\"noopener\">Wam<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/aid\/\">aid<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/brazil\/\">Brazil<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/congo\/\">Congo<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/foreign-minister\/\">Foreign minister<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/gaza\/\">Gaza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92222\" 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\/21\/92222-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92222\" class=\"content-area-description single-story post-92222 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">MAY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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>20-22 May (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.evinnovationsummit.com\/\" style=\"\">Electric Vehicle Innovation Summit<\/a><\/span><span>, Abu Dhabi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20-21 May (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/challenge.dub.ai\/en\/\" style=\"\">The Global Prompt Engineering Championship<\/a><\/span><span style=\"font-weight:400;\">, 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>21-23 May (Tuesday-Thursday):<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/cabsat.com\/\" style=\"\">CABSAT 2024<\/a><\/span><span>, Dubai World Trade Center.<\/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>27-28 May (Monday-Tuesday): The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/mecollabevents.com\/middle-east-investors-summit-may-2024\/\" style=\"\">Middle East Investors Summit<\/a><\/span><span>, <\/span><span>Ros<\/span><span style=\"font-weight:400;\">ewood Hotel, Al Maryah Island, 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;\">27-29 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 style=\"font-weight:400;\">28 May-4 June (Tuesday-Tuesday): Subscription period for retail investors for Alef Education\u2019s IPO.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>28 May-5 June (Tuesday-Wednesday): Subscription period for institutional investors for Alef Education\u2019s IPO.<\/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>1 June (Saturday): Deadline for <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/dubai.tie.org\/\" style=\"\">TiE Women MENA Programme 2024<\/a><\/span><span style=\"font-weight:400;\"> applications. <\/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 style=\"font-weight:400;\">10 June (Monday) Alpha Dhabi holds shareholder vote on the sale of a 49% stake in Alpha Dhabi Construction to ADQ. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>12 June (Wednesday): Alef Education shares begin trading.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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-Wednesday): 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\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>Plus: ADX to get its first IPO of the year in June<\/p>\n","protected":false},"featured_media":92199,"menu_order":0,"template":"","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-92198","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"db00f7b7-5b3b-4d42-b25c-88904760e016","teaser":"Plus: ADX to get its first IPO of the year in June","photo_url":"https:\/\/ent.news\/2024\/3\/1641.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ 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