{"id":92242,"date":"2024-05-22T00:00:00","date_gmt":"2024-05-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=92242"},"modified":"2025-12-15T00:24:33","modified_gmt":"2025-12-15T00:24:33","slug":"fab-closes-in-on-acquisition-of-turkeys-yapi-kredi","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/fab-closes-in-on-acquisition-of-turkeys-yapi-kredi\/","title":{"rendered":"FAB closes in on acquisition of Turkey\u2019s Yapi Kredi"},"content":{"rendered":"<section id=\"92244\" 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=\"92244\">\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\/22\/adq-sets-up-investment-company-in-jordan\/\">\r\n                            THIS MORNING: DXB had its busiest quarter yet in 1Q 2024 + ADQ sets up investment company in Jordan                        <\/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\/22\/adq-sets-up-investment-company-in-jordan\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The bank is set to snap up a 61.2% stake for some USD 8 bn if the transaction goes through. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Plus:<\/strong> Emirates Islamic has taken its debut USD 750 mn green sukuk issuance to market, and Fitch has upgraded Ras Al Khaimah\u2019s issuer default rating<\/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>WEATHER- It\u2019s another hot and humid day in the UAE<\/strong>, with the mercury hitting 37\u00b0C in Abu Dhabi and 36\u00b0C in Dubai, with overnight lows between 26-28\u00b0C. <\/p>\n<p class=\"tag-border-left\">PUBLIC SERVICE ANNOUNCEMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>No more styrofoam cups in Abu Dhabi from 1 June: <\/strong>Abu Dhabi has pulled the brakes on single-use styrofoam products made of polystyrene \u2014 including cups, lids, plates, and takeaway containers \u2014 with a resolution taking effect at the beginning of June, according to the <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/environment\/environment-agency-abu-dhabi-and-abu-dhabi-department-of-economic-development-to-ban-single-use-styrofoam-products-from-1-june-2024\/\" style=\"\" rel=\"noopener\">Abu Dhabi Media Office<\/a>. The Abu Dhabi Department of Economic Development will conduct field inspections on sales outlets and industrial establishments from 1 June to ensure compliance, after notifying over 50k commercial establishments and 80 industrial facilities about the ban. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ban is part of Abu Dhabi\u2019s Environment Agency\u2019s single-use plastic policy,<\/strong> introduced in 2020 to reduce microplastics and facilitate the shift to reusable solutions. The authority previously <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/climate\/environment\/2023\/06\/06\/abu-dhabi-takes-172-million-single-use-plastic-bags-out-of-circulation-in-one-year\/\" style=\"\" rel=\"noopener\">rolled out<\/a> a single-use plastic bags ban in June 2022, which saw some 310 mn bags removed from circulation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Dubai will also ban single-use plastic bags as of 1 June, as part of a phased rollout aiming to ban single-use plastics by 2026. <\/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- Abu Dhabi Developmental Holding Company (ADQ) has established an infrastructur<\/strong><strong>e investment fund company in Jordan<\/strong>, <a target=\"_blank\" href=\"https:\/\/petra.gov.jo\/Include\/InnerPage.jsp?ID=60056&amp;lang=en&amp;name=en_news&amp;cat=en_news\" style=\"\" rel=\"noopener\">Petra<\/a> reports. The fund aims to pour some USD 5 bn into an array of infrastructure and development projects across the country. ADQ will spearhead investment projects in Jordan including the operation and management of a port facility in Aqaba, the establishment of a railway network connecting Aqaba port to mining zones, and the development of a waste-to-energy conversion station, Petra said. Each project will be carried out through a dedicated subsidiary.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#2- UMPC to kick off lithium production in Argentina next year:<\/strong> Dubai-based United Mining Projects plans to kick off lithium production for batteries in Argentina next year, targeting an output of 5k tons by 2027 with plans to double it by 2028, CEO Bradley Pielsticker said in an interview with <a target=\"_blank\" href=\"https:\/\/www.cnbcarabia.com\/123491\/2024\/5\/20\/%D8%B4%D8%B1%D9%83%D8%A9-%D9%85%D9%82%D8%B1%D9%87%D8%A7-%D8%AF%D8%A8%D9%8A-%D8%AA%D8%B9%D8%AA%D8%B2%D9%85-%D8%A8%D8%AF%D8%A1-%D8%A5%D9%86%D8%AA%D8%A7%D8%AC-%D8%A7%D9%84%D9%84%D9%8A%D8%AB%D9%8A%D9%88%D9%85-%D9%81%D9%8A-%D8%A7%D9%84%D8%A3%D8%B1%D8%AC%D9%86%D8%AA%D9%8A%D9%86-%D8%A7%D9%84%D8%B9%D8%A7%D9%85-%D8%A7%D9%84%D9%85%D9%82%D8%A8%D9%84\" style=\"\" rel=\"noopener\">CNBC Arabia.<\/a> The company is currently mulling extraction methods, including direct extraction and evaporation ponds, he said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong>UMPC is investing <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/960d5c58-f5b4-4bec-ab7d-1e1e75898333\/dubai%25e2%2580%2599s-umpc-invests-usd-550-mn-in-argentinian-lithium-project\" style=\"\" rel=\"noopener\">USD 550 mn in a lithium project in Argentina<\/a> \u2019s Catamarca province through its subsidiary, Marhen Lithium. The project also aims to develop the lithium into value-added products, with the funds set to be disbursed over a four-year period.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3-<\/strong><strong>Ajman Bank is looking to reduce the number of non-performing loans (NPLs) to align <\/strong><strong>with regulatory <\/strong><strong>standards by year-end<\/strong>, and expects a significant decrease in its NPLs \u2014 which currently make up 14% of the bank\u2019s total loan portfolio \u2014 by 2Q 2024, the lender\u2019s CEO Mustafa Al Khalafawi told <a target=\"_blank\" href=\"https:\/\/www.cnbcarabia.com\/123503\/2024\/5\/21\/%D8%A7%D9%84%D8%B1%D8%A6%D9%8A%D8%B3-%D8%A7%D9%84%D8%AA%D9%86%D9%81%D9%8A%D8%B0%D9%8A-%D9%84%D9%85%D8%B5%D8%B1%D9%81-%D8%B9%D8%AC%D9%85%D8%A7%D9%86-%D9%84%D9%80-CNBC-%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9:-%D9%86%D8%B3%D8%A8%D8%A9-%D8%A7%D9%84%D9%82%D8%B1%D9%88%D8%B6-%D8%A7%D9%84%D9%85%D8%AA%D8%B9%D8%AB%D8%B1%D8%A9-%D9%85%D9%86-%D8%A5%D8%AC%D9%85%D8%A7%D9%84%D9%8A-%D9%85%D8%AD%D9%81%D8%B8%D8%A9-%D8%A7%D9%84%D8%A5%D9%82%D8%B1%D8%A7%D8%B6-%D8%AA%D8%A8%D9%84%D8%BA-%D8%AD%D9%88%D8%A7%D9%84%D9%8A-14-\" style=\"\" rel=\"noopener\">CNBC Arabia<\/a>. The bank is also exploring the possibility of launching a digital bank. While no concrete timeline has been provided, this initiative is under consideration for the coming months or years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Ajman Bank\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/bade33e7-9fa3-4e1a-8295-a972a81ec65d\/keep-the-earnings-coming%25e2%2580%25a6\" style=\"\" rel=\"noopener\">bottom line more than doubled<\/a> to a record AED 107.4 mn, up 118% y-o-y in 1Q 2024. The growth was driven by a 7% y-o-y increase in its net operating income to AED 400 mn, as well as the bank\u2019s focus on \u201ccustomer base, enhancing the credit quality, risk management and focus on recoveries.\u201d<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- ADQ-owned F&amp;B firm Agthia\u2019s income is poised to climb between 10-12% y-o-y in <\/strong><strong>2024<\/strong>, the company\u2019s CFO Sherif Elfaham told CNBC Arabia (<a target=\"_blank\" href=\"https:\/\/www.cnbcarabia.com\/123509\/2024\/5\/21\/%D8%A3%D9%88%D9%84%D8%A7%D9%8B-%D9%84%D9%80-CNBC-%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9..-%D8%A7%D9%84%D8%B1%D8%A6%D9%8A%D8%B3-%D8%A7%D9%84%D8%AA%D9%86%D9%81%D9%8A%D8%B0%D9%8A-%D9%84%D9%84%D8%A5%D8%AF%D8%A7%D8%B1%D8%A9-%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D9%84%D9%85%D8%AC%D9%85%D9%88%D8%B9%D8%A9-%D8%A3%D8%BA%D8%B0%D9%8A%D8%A9-%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA%D9%8A%D8%A9:-%D8%AA%D9%88%D9%82%D8%B9-%D8%AA%D8%AD%D9%82%D9%8A%D9%82-%D9%86%D9%85%D9%88%D9%8D-%D9%8A%D8%B5%D9%84-%D8%A5%D9%84%D9%89-10--%D8%A8%D9%86%D9%87%D8%A7%D9%8A%D8%A9-%D8%B9%D8%A7%D9%85-2024\" style=\"\" rel=\"noopener\">watch, runtime, 6:36<\/a>). Agthia is planning to increase its exports to Egypt 40% y-o-y to AED 100 mn this year, up from AED 70 mn recorded in 2023. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> Agthia is looking to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f9397179-1bf6-4f17-89ce-d2cb0f7279f2\/your-emirati-passports-will-last-longer-%2B-ceraweek-continues-in-texas#:~:text=Agthia%20still%20looking,for%20its%20products.\" style=\"\" rel=\"noopener\">make Egypt an export hub<\/a> by setting up an export facility in Egypt to serve markets in the Gulf and North Africa, as part of a wider expansion strategy for Agthia to grow its foothold in large consumer markets such as Egypt and Saudi Arabia<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Agthia anticipates booking AED 40-45 mn in sales from its recently launched Nabil protein manufacturing facility<\/strong> in Jeddah, Elfaham said, announcing that operations commenced at the AED 84 mn facility earlier this month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A look at Agthia\u2019s 1Q performance: <\/strong>Agthia Group\u2019s net income <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ea37ce0d-664e-4014-81ec-61ef978e373b\/taqa,-deyaar,-and-more-companies-post-1q-earnings#:~:text=ever%20dividend%20payout.-,AGTHIA%2D,-ADQ%2Downed%20F\" style=\"\" rel=\"noopener\">rose 32% y-o-y<\/a> to AED 127.6 mn in 1Q 2024. The company logged AED 1.45 bn in revenues, up 22.6% y-o-y.<\/p>\n<p class=\"tag-border-left\">DATA POINTS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#1- Dubai International Airport (DXB) logged its busiest quarter in 1Q 2024, <\/strong>with 23 mn passengers passing through its terminals, up 8.4% y-o-y, according to the <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2024\/may\/21-05\/dxb--busiest-quarter-in-history\" style=\"\" rel=\"noopener\">Dubai Media Office<\/a>. Robust performance came on the back of network expansions by Emirates and Flydubai, with the airport expecting to host some 91 mn guests this year. DXB currently grids Dubai to 256 destinations across 102 countries. London attracted the highest number of passengers (961k) during 1Q, followed by Riyadh (795k), Jeddah (669k), and Mumbai (637k).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The UAE ranked 18th globally and first in the Middle East region in the World Economic <\/strong><strong>Forum\u2019s latest <\/strong><strong><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1694.pdf\" style=\"\" rel=\"noopener\">Travel &amp; Tourism Development Index<\/a><\/strong><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1694.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>, improving its score by 4.4% and climbing seven places from its previous 35th global ranking in the last report issued in 2021. The index, covering 119 economies, analyzes factors and policies adopted by the countries to develop their travel and tourism sector. <\/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 final day 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- 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>on its second and final day<\/strong><strong> 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>#3-<\/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 final day<\/strong><strong> 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>#4-<\/strong><strong><a target=\"_blank\" href=\"https:\/\/cabsat.com\/\" style=\"\" rel=\"noopener\">CABSAT<\/a><\/strong><strong> is on its second day at the Dubai World Trade Centre<\/strong>, before wrapping tomorrow. The three-day event will welcome over 18k industry professionals and media markets to explore business prospects across content, broadcast, satellite, media, and entertainment.<\/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>It\u2019s a mixed bag on global front pages this morning <\/strong>with no single story captivating the attention of the business press.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Iran will <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-21\/iran-to-hold-presidential-elections-june-28-after-raisi-s-death?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">hold presidential elections on 28 June<\/a><\/strong> as the country looks to elect a new president following the death of Ebrahim Raisi in a helicopter crash. Vice President Mohammad Mokhber will serve as interim president in the meantime. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- US stocks hit another record high: <\/strong>The S&amp;P 500 and tech-heavy Nasdaq Composite both hit fresh highs yesterday. US stocks have been closing in the green for the past couple of sessions following <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cc953b09-0ff1-4985-a4df-372db5abc962\/traders-send-us-stocks-to-record-high-after-promising-inflation-data\" style=\"\" rel=\"noopener\">promising inflation data<\/a> that reignited trader optimism that the Federal Reserve could start cutting interest rates this year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Pixar is laying off 14% of its workforce <\/strong>as the company adopts a quality over quantity mindset, a Disney spokesman told <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/05\/21\/disneys-pixar-layoffs.html\" style=\"\" rel=\"noopener\">CNBC<\/a>. <\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p class=\"tag-border-left\"> CIRCLE YOUR CALENDAR- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/moiat.gov.ae\/en\/make-it-in-emirates-forum\" style=\"\" rel=\"noopener\">Make it in the Emirates Forum<\/a><\/strong><strong> is set to take place from 27-28 May<\/strong> at the Abu Dhabi Energy Center. The forum, which is organized by the Industry and Advanced Technology Ministry, brings together local and international decision-makers, government officials, private companies, investors, and financing institutions to support industrial growth and investment.<\/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\/adq\/\">ADQ<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/agthia\/\">Agthia<\/a>\n                <!-- 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      <a href=\"https:\/\/api.whatsapp.com\/send?text=FAB+closes+in+on+acquisition+of+Yapi+Kredi+%2B+Al+Mal+Capital+REIT+adds+Dubai+school+to+its+portfolio+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F22%2Ffab-closes-in-on-acquisition-of-yapi-kredi-al-mal-capital-reit-adds-dubai-school-to-its-portfolio%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\/22\/fab-closes-in-on-acquisition-of-yapi-kredi-al-mal-capital-reit-adds-dubai-school-to-its-portfolio\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/25.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92247\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/22\/fab-closes-in-on-acquisition-of-yapi-kredi-al-mal-capital-reit-adds-dubai-school-to-its-portfolio\/25-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/25.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"25.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/25.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/25.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92246\" class=\"content-area-description single-story post-92246 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-al-mal-capital tag-banking tag-enterpriseam-uae tag-fab 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\/.e8bcd385-6d79-4250-a4cd-7c4687d1b984.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>FAB is a step closer to acquiring a 61.2% Stake in Yapi Kredi: <\/strong>First Abu Dhabi Bank (FAB) is reportedly advancing in its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/c6e11ec4-9aa6-42d4-943c-3558482a919b\/fab-considers-acquisition-of-turkish-lender%253cmark%253e-yapi-kredi%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">discussions<\/a> with Turkish industrial conglomerate Koc Group about a potential takeover of its 61.2% stake in Turkey's fourth-biggest private bank Yapi Kredi for USD 8 bn, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/emirati-bank-fab-advanced-talks-buy-turkeys-yapi-kredi-sources-say-2024-05-21\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing three undisclosed sources close to the matter. Talks are now being finalized after \u201cseveral months of negotiations,\u201d which initially saw FAB offer to pay USD 7.5 mn for the stake, while Koc sought out USD 8.5 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Disagreements over the bank\u2019s valuation could throw a wrench in the works, <\/strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-21\/uae-bank-s-talks-with-turkish-lender-hit-snag-on-valuation\" style=\"\" rel=\"noopener\">Bloomberg<\/a><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-21\/uae-bank-s-talks-with-turkish-lender-hit-snag-on-valuation\" style=\"\" rel=\"noopener\"><\/a> reports, citing people in the know. Koc is still reportedly seeking a higher price than what FAB is currently willing to offer. Due to these disagreements hampering the stake sale, FAB has not formally begun due diligence on the stake, despite negotiations being ongoing for several weeks now, according to the sources. While neither lender has tapped an adviser, the banks are still moving forward with the talks. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Turkish lender\u2019s market was valued at USD 7.5 bn earlier this month<\/strong>, though its value has now gone up to USD 10 bn, after shares rallied 10% yesterday. FAB\u2019s USD 8 bn bid would value the bank at USD 13-14 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Current<\/strong><strong> ownership: <\/strong>Koc Financial Services holds a 41.0% stake in Yapi Kredi, while Koc Holding holds a little over 20.22% in the Istanbul-based commercial banking company.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next?<\/strong> While declining to comment on the acquisition, the Emirates\u2019 biggest lender acknowledged \u201cthe recent media speculation,\u201d in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1700.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a>, adding that the bank is focused on \u201cexecuting its growth strategy.\u201d The lender also said that it could be holding talks \u201con growth potential to its operational network.\u201d Meanwhile, Koc Holding confirmed in a statement to the Istanbul bourse that it is in preliminary talks to sell Yapi Kredi shares. Koc also said it holds the option to negotiate \u201cpossible alternatives\u201d in its portfolio, signaling that the FAB sale is not final.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FAB has been eyeing the Turkish bank for some time: <\/strong>FAB mulled an acquisition of Turkish lender Yapi Kredi, valued at USD 7.6 bn, in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/c6e11ec4-9aa6-42d4-943c-3558482a919b\/fab-considers-acquisition-of-turkish-lender%253cmark%253e-yapi-kredi%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">April<\/a>, as part of its global expansion strategy. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Ties between the UAE and Turkey have warmed as of late: <\/strong>Last year, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/turkeys-erdogan-ends-gulf-tour-with-abu-dhabi-visit-2023-07-19\/\" style=\"\" rel=\"noopener\">the UAE<\/a> inked over USD 50 bn in agreements with Turkey during a visit from Turkish President Recep Tayyip Erdogan, including commitments to develop energy and natural resources projects and a trade agreement. Dubai Islamic Bank has also shown interest in Turkish investments, <a target=\"_blank\" href=\"https:\/\/www.dib.ae\/about-us\/news\/2023\/09\/28\/dubai-islamic-bank-a-leading-financial-institution-in-the-uae-enters-turkish-digital-banking-and-financial-technology-sector-via-an-equity-investment-in-tom-group-of-companies\" style=\"\" rel=\"noopener\">announcing in September<\/a> that it plans to purchase a 20% stake in Turkey's TOM Group of Companies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FAB also has its eyes on an Indian lender:<\/strong> FAB reportedly sought to acquire a 25% stake in Yes Bank, India's sixth-largest private sector lender, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/03de8688-be8d-48d9-9d79-49e4e848a349\/dubai-fintech-summit-kicks-off-%2B-fab-eyeing-a-stake-in-yes%253cmark%253e-bank%253c%2Fmark%253e%3F\" style=\"\" rel=\"noopener\">earlier this month<\/a>. The lender held talks with the Reserve Bank of India, India\u2019s central bank, to discuss the potential transaction.<\/p>\n<p class=\"tag-border-left\">IN OTHER M&amp;A NEWS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Mal Capital adds a Dubai school to its portfolio: <\/strong>Al Mal Capital\u2019s real estate investment trust\u2019s (REIT) board approved the purchase of a school in Dubai for a total of up to AED 415 mn, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1686.pdf\" style=\"\" rel=\"noopener\">DFM disclosure (pdf)<\/a>, without disclosing the name of the school. The transaction will see the REIT acquire the British curriculum school at an estimated value of AED 395 mn, with the financial costs amounting to up to AED 20 mn. The new acquisition brings the asset manager\u2019s portfolio value to approximately AED 1 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>The Dubai-based asset manager unveiled in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/35ee8cde-bbca-4165-b2d0-e36485688950\/al-mal-capital-reit-completes-aed-180-mn-capital-increase#:~:text=What%E2%80%99s%20next%20for,next%20two%20months.\" style=\"\" rel=\"noopener\">April<\/a> its plan to acquire an AED 400 mn educational asset as well as a healthcare facility later in the year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The Dubai-investments unit underwent an AED 180 mn capital increase last month, bringing the REIT\u2019s total capital to over AED 540 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong>A REIT or a real estate investment trust is a mutual fund that owns, finances or manages income-generating real estate assets \u2014 commercial, residential, office, and other properties. Some will also invest in real-estate-related securities or private equity transactions that are directly related to the industry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next?<\/strong> The REIT could kick off <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/b1680788-cbf0-42c8-a839-7105f7bdf785\/opec%2B-steady-on-voluntary-production-cuts-%2B%253cmark%253e-al%253c%2Fmark%253e%253cmark%253e-mal%253c%2Fmark%253e%253cmark%253e-capital%253c%2Fmark%253e-plans-to-acquire-a-dubai-school-soon\" style=\"\" rel=\"noopener\">another capital increase<\/a> in 4Q 2024, with plans to up the number of units available to 1.5-1.8 bn units by year-end, Al Mal Capital MENA Direct Investments Director Sanjay Vig previously said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/al-mal-capital\/\">Al Mal Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/fab\/\">FAB<\/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=\"92248\" 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=\"92248\">\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\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/22\/fitch-upgraded-ras-al-khaimahs-issuer-default-rating-with-a-stable-outlook\/\">\r\n                            Fitch upgraded Ras Al Khaimah\u2019s issuer default rating with a stable outlook                        <\/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\/22\/fitch-upgraded-ras-al-khaimahs-issuer-default-rating-with-a-stable-outlook\/\" 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\/22\/fitch-upgraded-ras-al-khaimahs-issuer-default-rating-with-a-stable-outlook\/')\">\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\/22\/fitch-upgraded-ras-al-khaimahs-issuer-default-rating-with-a-stable-outlook\/\">\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=Fitch upgraded Ras Al Khaimah\u2019s issuer default rating with a stable outlook&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/22\/fitch-upgraded-ras-al-khaimahs-issuer-default-rating-with-a-stable-outlook\/\">\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\/22\/fitch-upgraded-ras-al-khaimahs-issuer-default-rating-with-a-stable-outlook\/&title=Fitch upgraded Ras Al Khaimah\u2019s issuer default rating with a stable outlook\">\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=Fitch+upgraded+Ras+Al+Khaimah%E2%80%99s+issuer+default+rating+with+a+stable+outlook+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F22%2Ffitch-upgraded-ras-al-khaimahs-issuer-default-rating-with-a-stable-outlook%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\/22\/fitch-upgraded-ras-al-khaimahs-issuer-default-rating-with-a-stable-outlook\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1891.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92249\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/22\/fitch-upgraded-ras-al-khaimahs-issuer-default-rating-with-a-stable-outlook\/1891-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1891.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1891.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1891.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1891.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92248\" class=\"content-area-description single-story post-92248 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-debt tag-economy tag-enterpriseam-uae tag-fitch-ratings tag-gdp tag-ras-al-khaimah 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\/.e8bcd385-6d79-4250-a4cd-7c4687d1b984.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Fitch Ratings upgraded Ras Al Khaimah\u2019s (RAK) long-term foreign-currency <\/strong><strong>issuer default rating to A+ from A with a stable outlook<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.fitchratings.com\/research\/sovereigns\/fitch-upgrades-ras-al-khaimah-to-a-from-a-outlook-stable-20-05-2024#:~:text=Fitch%20Ratings%20%2D%20Hong%20Kong%20%2D%2020,The%20Outlook%20is%20Stable.\" style=\"\" rel=\"noopener\">statement<\/a>. The improved credit score comes on the back of stronger medium-term growth forecasts, as well as higher fiscal buffers due to the introduction of the corporate tax and increased investment inflows as its tourism industry continues to boom. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Tap or click the headline above to read this story<\/strong> with all of the links to our background and outside sources.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More investments + government spending are to thank:<\/strong> The growth forecasts are driven by \u201cthe combination of large investment projects and further economic diversification,\u201d the statement said, citing Wynn Resorts\u2019 <a target=\"_blank\" href=\"https:\/\/www.prnewswire.com\/ae\/news-releases\/wynn-resorts-releases-new-updated-images-of-wynn-al-marjan-island-302136239.html\" style=\"\" rel=\"noopener\">plans<\/a> to develop the first integrated gaming resort in the MENA region in the emirate at USD 3.9 bn, with support from state-owned RAK Hospitality Holding and Marjan, as well RAK Central and Beach District developments in January. This is supported by federal government spending, as well as \u201crobust international reserves\u201d due to the peg to the USD. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>RAK\u2019s growth will outpace the UAE\u2019s:&nbsp;<\/strong>The ratings agency now sees the emirate growing in the medium term at a 6.2% clip in 2024 and 5% clip in 2025, it said. The construction of Wynn\u2019s gaming resort alone is expected to boost real GDP growth by two percentage points above the UAE's non-oil real GDP growth in both 2024 and 2025, the rating agency said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ras Al Khaimah faces the risk of a downgrade if public finances weaken<\/strong>, \u201cfor example, due to large, sustained increases in spending or lower state-owned enterprises profits,\u201d Fitch said. Deterioration in macroeconomic growth, potentially triggered by lower non-oil growth in the GCC, could also trigger a lower rating, alongside a further escalation of conflict in the region.<\/p>\n<p class=\"tag-border-left\">OTHER KEY INDICATORS-<\/p>\n<ul>\n<li><strong>Public sector deficits<\/strong> will drop to 2.3% of GDP in 2024 and 2025;<\/li>\n<li><strong>Public sector debt <\/strong>will slightly increase to 10.9% of GDP in 2024 and 11.3% in 2025;<\/li>\n<li><strong>Deposits <\/strong>will fall to 11.8% of GDP this year and 10.5% in 2025;<\/li>\n<li><strong>Revenues<\/strong> will comprise 22.9% of GDP in 2024 and 21.8% in 2025, up from 20% in 2022 and 21.5% in 2023.<\/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\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/economy\/\">Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/fitch-ratings\/\">Fitch Ratings<\/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\/ras-al-khaimah\/\">Ras Al Khaimah<\/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=\"92250 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=\"92250\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/22\/92250-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92250\" class=\"content-area-description single-story post-92250 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=\"92251\" 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=\"92251\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/22\/emirates-islamic-takes-usd-750-sukuk-to-the-market\/\">\r\n                            Emirates Islamic takes USD 750 benchmark ESG sukuk to the market                        <\/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\/22\/emirates-islamic-takes-usd-750-sukuk-to-the-market\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The issuance attracted some USD 1.9 bn in orders, and is part of a broader USD 2.5 bn certificate issuance program, according to Reuters.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The lender narrowed the price guidance for the five-year sustainability sukuk to 100 basis points (bps) from an <a target=\"_blank\" href=\"https:\/\/www.xm.com\/ar\/research\/markets\/allNews\/reuters\/emirates-islamic-bank-starts-selling-sustainability-sukuk-document-says-53842850\" style=\"\" rel=\"noopener\">initial price guidance<\/a> of 130 bps over US Treasuries. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong> Emirates NBD Capital and Standard Chartered Bank were appointed as joint global coordinators, while First Abu Dhabi Bank, Abu Dhabi Islamic Bank, Dubai Islamic Bank, and the Islamic Corporation For The Development of the Private Sector were selected to act as joint lead managers and joint bookrunners for the transaction.<\/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\/debt-watch\/\">DEBT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/emirates-islamic\/\">Emirates Islamic<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/green-bonds\/\">green bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/sukuk\/\">Sukuk<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92253\" 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=\"92253\">\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\">INVESTMENT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/22\/alcazar-raises-usd-490-mn-for-second-renewables-fund\/\">\r\n                            Alcazar raises USD 490 mn for second renewables fund                        <\/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\/22\/alcazar-raises-usd-490-mn-for-second-renewables-fund\/\" 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\/22\/alcazar-raises-usd-490-mn-for-second-renewables-fund\/')\">\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\/22\/alcazar-raises-usd-490-mn-for-second-renewables-fund\/\">\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=Alcazar raises USD 490 mn for second renewables fund&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/22\/alcazar-raises-usd-490-mn-for-second-renewables-fund\/\">\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\/22\/alcazar-raises-usd-490-mn-for-second-renewables-fund\/&title=Alcazar raises USD 490 mn for second renewables fund\">\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=Alcazar+raises+USD+490+mn+for+second+renewables+fund+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F22%2Falcazar-raises-usd-490-mn-for-second-renewables-fund%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\/22\/alcazar-raises-usd-490-mn-for-second-renewables-fund\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1704.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92254\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/22\/alcazar-raises-usd-490-mn-for-second-renewables-fund\/1704-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1704.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1704.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1704.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1704.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92253\" class=\"content-area-description single-story post-92253 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-climate tag-enterpriseam-uae tag-investment-watch tag-renewables 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\/.e8bcd385-6d79-4250-a4cd-7c4687d1b984.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Alcazar Energy Partners secured a USD 490 mn final close on its renewable <\/strong><strong>energy fund,&nbsp;<\/strong>Alcazar Energy Partners II, the company said in a <a target=\"_blank\" href=\"https:\/\/alcazarenergy.com\/alcazar-energy-partners-reaches-final-close-of-us490m-for-renewable-energy-fund\/\" style=\"\" rel=\"noopener\">press release<\/a>. The fund\u2019s clean energy investments will assist emerging markets in offsetting over 3 mn tonnes of greenhouse gas emissions annually.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who pitched in?<\/strong> The renewables fund received backing from eight additional leading investors, including the US International Development Finance Corporation, Alcazar said. Other development financial institution investors include the European Bank for Reconstruction and Development, the Asian Infrastructure Investment Bank and Allianz, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/alcazar-energy-raises-490-mln-second-fund-gets-dfc-backing-2024-05-21\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the fund:<\/strong> To date, the fund has acquired two wind farms in the Western Balkans with a total capacity of 456 MW. This includes a 118 MW wind farm in Montenegro purchased in <a target=\"_blank\" href=\"https:\/\/alcazarenergy.com\/alcazar-energy-completes-the-acquisition-of-rights-to-118-mw-wind-farm-in-montenegro\/\" style=\"\" rel=\"noopener\">September<\/a>, as part of the fund\u2019s plan to develop 1.6 GW of clean energy across various markets. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What was said:<\/strong> \u201c...With this fund, we are well positioned to continue investing in essential renewable energy projects that advance the energy transition in places that are historically underserved by the traditional investment community,\u201d Alcazar\u2019s managing partner Daniel Calderon said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> Alcazar reached the first close for the fund in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/75312fc3-00f4-4919-8064-dbf70f603fc6\/%253cmark%253ealcazar%253c%2Fmark%253e-energy-ii-secures-some-usd-337-mn-for-renewables-projects\" style=\"\" rel=\"noopener\">2022<\/a>, securing USD 336.6 mn to invest in developing a portfolio of 2 GW worth of renewable energy projects across emerging markets. Alcazar Energy Partners I \u2014 the first fund by Alcazar \u2014 was launched in 2014 and raised a total of USD 240 mn to invest in equity for solar and wind energy projects with up to USD 700 mn poured into solar and wind farms in Egypt and Jordan. The first fund\u2019s portfolio was acquired in 2021 by Chinese energy firm China Three Gorges Corporation.<\/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\/climate\/\">climate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/renewables\/\">renewables<\/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=\"92255\" 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=\"92255\">\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\">ENERGY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/22\/masdar-and-the-world-bank-advance-uzbek-solar-project\/\">\r\n                            Masdar and the World Bank advance Uzbek solar 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\/22\/masdar-and-the-world-bank-advance-uzbek-solar-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(); 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Masdar will receive interest rate swaps from IFC to manage risks associated with loan rates, the statement added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown: <\/strong><\/p>\n<ul>\n<li>The<strong> International Finance Corporation (IFC) <\/strong>is lending some<strong> USD 53 mn<\/strong>, USD 20 mn of which will be provided within the joint <a target=\"_blank\" href=\"https:\/\/www.ifc.org\/en\/what-we-do\/sector-expertise\/blended-finance\/climate\/canada-ifc-blended-climate-finance-program\" style=\"\" rel=\"noopener\">IFC and Government of Canada program<\/a> for financing climate protection initiatives;<\/li>\n<li>The <strong>Asian Development Bank (ADB) <\/strong>has agreed on a loan of <strong>USD 46.5 mn<\/strong> \u2014 USD 20 mn of which will come from the ADB-managed <a target=\"_blank\" href=\"https:\/\/www.adb.org\/what-we-do\/funds\/leap\" style=\"\" rel=\"noopener\">Leading Asia's Private Sector Infrastructure Fund (LEAP)<\/a>, according to an <a target=\"_blank\" href=\"https:\/\/www.adb.org\/news\/adb-masdar-sign-deal-build-region-first-solar-power-plant-battery-energy-storage-facility-uzbekistan\" style=\"\" rel=\"noopener\">ADB statement<\/a> ; and has further mobilized USD 26.5 mn from the Japan International Cooperation Agency (JICA);<\/li>\n<li>The rest (c. <strong>USD 33 mn<\/strong>) will be offered by the <strong>Dutch Entrepreneurial Development Bank<\/strong>; <\/li>\n<li>The <strong>World Bank<\/strong> will also provide Uzbekistan with a financial <strong>guarantee<\/strong> of <strong>USD 12 mn<\/strong>. <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the project: <\/strong>The project \u2014 which will stand as Central Asia\u2019s first renewable power facility with a utility-scale battery storage system \u2014 plans to offset around 327k metric tons of CO2, generate around 585 GWh of energy annually, and power 75k houses. Masdar was first awarded the 250 MW Bukhara Solar PV project in late 2022, a company <a target=\"_blank\" href=\"https:\/\/masdar.ae\/en\/news\/newsroom\/the-president-of-uzbekistan-witnesses-grid-connection-of-masdar--projects\" style=\"\" rel=\"noopener\">statement<\/a> said. At the time, Masdar submitted a bid with the lowest price per kWh of energy at <a target=\"_blank\" href=\"https:\/\/kun.uz\/en\/news\/2024\/05\/21\/masdar-secures-159-million-for-solar-power-plant-construction-in-bukhara-region\" style=\"\" rel=\"noopener\">USD 3.044 cents<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/masdar\/\">Masdar<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/world-bank\/\">World Bank<\/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=\"92257\" 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=\"92257\">\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\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/22\/france-and-the-uae-ink-strategic-ai-partnership-eye-nuclear-investments\/\">\r\n                            France and the UAE ink strategic AI partnership + eye nuclear investments                        <\/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\/22\/france-and-the-uae-ink-strategic-ai-partnership-eye-nuclear-investments\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The agreement will cover four new areas of cooperation, including investments in data centers and semiconductors, as well as research and skill development through the Abu Dhabi branch of the Sorbonne, the minister said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cFrance has chosen to be the leading country in Europe on AI, and for that, we need partners,\u201d <\/strong>Le Maire said during a visit to the UAE.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>Mubadala has already invested in France\u2019s chip industry as a majority shareholder of <a target=\"_blank\" href=\"https:\/\/www.mubadala.com\/en\/what-we-do\/globalfoundries\" style=\"\" rel=\"noopener\">GlobalFoundaries<\/a>, which is building a semiconductor facility in the country with STMicroelectronics, according to AFP, which quotes Le Maire as saying that the country wants to \u201caccelerate the deployment of these investments and expand them.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- France is \u201copen\u201d to the UAE investing in its nuclear industry<\/strong>, including in private companies such as nuclear fuel company <a target=\"_blank\" href=\"https:\/\/www.orano.group\/en\/group\/international-industrial-group\" style=\"\" rel=\"noopener\">Orano<\/a>, Le Maire told reporters in Abu Dhabi, according to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/france-open-uae-investments-nuclear-industry-minister-says-2024-05-21\/\" style=\"\" rel=\"noopener\">Reuters<\/a>, adding that he plans to hold discussions on this with senior UAE officials during his visit. Le Maire met with Khaldoon Al Mubarak, the chairman of state Emirates Nuclear Energy Corp and managing director of Mubadala, yesterday. He was also to meet with Industry and Advanced Technology Minister Sultan Al Jaber.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>France is also willing to help the UAE if it decides to expand its own nuclear power <\/strong><strong>industry, <\/strong>according to Le Maire. \"If there is any possibility to extend the cooperation to the UAE on the nuclear field, we stand ready for that,\u201d Le Maire said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER-<\/strong> The UAE is eyeing nuclear investments in Europe, and has reportedly held talks with the UK, among other European countries, to explore potential investments in the continent\u2019s nuclear power infrastructure, Reuters reported in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/97303dd4-c38a-4431-be95-ab6c2721aebe\/fuel-prices-hiked-for-the-third-time-in-a-row-%2B-uae-is-eyeing%253cmark%253e-nuclear%253c%2Fmark%253e-investments-in-europe#:~:text=%232%2D%20UAE%20mulls,sources%20told%20Reuters.\" style=\"\" rel=\"noopener\">April<\/a>. Among the potential investments is Enec buying minority stakes in European nuclear assets, with the goal of \u201cbecoming an international nuclear energy company holding minority stakes in nuclear power infrastructure of other nations, without managing or operating them.\u201d It is also expected to tender for four new reactors for a second potential nuclear plant, we <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/d0e7308f-97c3-4c66-b1e4-2433c4d69091\/another%253cmark%253e-nuclear%253c%2Fmark%253e-plant%3F\" style=\"\" rel=\"noopener\">reported<\/a> earlier.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Le Maire also met with President Mohamed bin Zayed Al Nahyan to discuss strategic relations in tech, industry, energy, and the economy<\/strong>, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b39jboj-uae-president-discusses-bilateral-relations-with\" style=\"\" rel=\"noopener\">Wam<\/a> reported. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- The UAE is set to expand AI collaboration with the US,<\/strong> state minister for AI Omar Sultan Al Olama told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/uae-us-see-more-ai-partnerships-minister-tells-reuters-2024-05-21\/\" style=\"\" rel=\"noopener\">Reuters<\/a> yesterday, stating that there are more joint investments in the AI sector in the pipeline for the two \u201cstrategic partners.\u201d Al Olama also mentioned that the UAE has approached potential partners for the development of small modular nuclear reactors (SMRs) to power data centers, although no final agreements have been reached yet.<\/p>\n<p class=\"tag-border-left\">OTHER DIPLOMACY NEWS-<\/p>\n<ul>\n<li><strong>President Al Nahyan<\/strong> also held a phone call with <strong>European Council President Charles Michel<\/strong> to discuss <strong>cooperation<\/strong> and the situation in Gaza. (<a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/13xevci-uae-president-european-council-president-discuss\" 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\/ai\/\">AI<\/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\/emirates-nuclear-energy-corporation\/\">Emirates Nuclear Energy Corporation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/nuclear-energy\/\">nuclear 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=\"92259\" 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=\"92259\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/22\/yalla-group-orascom-construction-see-bottomline-growth-in-1q-2024\/\">\r\n                            Yalla Group, Orascom Construction see bottomline growth in 1Q 2024                        <\/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\/22\/yalla-group-orascom-construction-see-bottomline-growth-in-1q-2024\/\" 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\/22\/yalla-group-orascom-construction-see-bottomline-growth-in-1q-2024\/')\">\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\/22\/yalla-group-orascom-construction-see-bottomline-growth-in-1q-2024\/\">\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=Yalla Group, Orascom Construction see bottomline growth in 1Q 2024&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/22\/yalla-group-orascom-construction-see-bottomline-growth-in-1q-2024\/\">\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\/22\/yalla-group-orascom-construction-see-bottomline-growth-in-1q-2024\/&title=Yalla Group, Orascom Construction see bottomline growth in 1Q 2024\">\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=Yalla+Group%2C+Orascom+Construction+see+bottomline+growth+in+1Q+2024+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F22%2Fyalla-group-orascom-construction-see-bottomline-growth-in-1q-2024%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\/22\/yalla-group-orascom-construction-see-bottomline-growth-in-1q-2024\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/887.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92260\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/22\/yalla-group-orascom-construction-see-bottomline-growth-in-1q-2024\/887-jpg-22\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/887.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"887.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/887.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/887.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92259\" class=\"content-area-description single-story post-92259 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-earnings-watch tag-enterpriseam-uae tag-gaming tag-orascom-construction tag-yalla-group 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\/.e8bcd385-6d79-4250-a4cd-7c4687d1b984.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">ORASCOM CONSTRUCTION- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Orascom Construction saw its net income rise 27.7% y-o-y in 1Q 2024<\/strong> to USD 46.1 mn, backed by strong operational performance and the company\u2019s efforts to improve financial management, according to the company\u2019s latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1648.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. The construction giant recorded revenues of USD 766.3 mn \u2014 a 4.8% y-o-y decrease \u2014 which the company attributed to the float of the EGP in Egypt, where it is based.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Backlog nears record high: <\/strong>The company\u2019s consolidated backlog grew 33.1% y-o-y to USD 7.3 bn. New awards fell 29% y-o-y to USD 609.5 mn during the quarter.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead: <\/strong>\u201cOur backlog... has provided us with strong visibility for the upcoming period as we continue to focus on project execution, collections, financial management, and ramping up our large-scale contracts signed in 2H 2023,\u201d said CEO Osama Bishai. <\/p>\n<p class=\"tag-border-left\">YALLA GROUP- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Yalla Group posted USD 31.1 mn in net income in 1Q 2024<\/strong>, up 56.2% y-o-y, the NYSE-listed social networking and gaming company said in an <a target=\"_blank\" href=\"https:\/\/ir.yalla.com\/2024-05-20-Yalla-Group-Limited-Announces-Unaudited-First-Quarter-2024-Financial-Results\" style=\"\" rel=\"noopener\">earnings release<\/a>. Revenues rose 7.1% y-o-y to USD 78.7 mn, on the back of chatting services, which raked in USD 52.2 mn, as well as gaming services revenues which contributed USD 26.5 mn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead: <\/strong>\u201cWe are actively communicating with potential premium partners and recently joined the UK Interactive Entertainment Association,\u201d Yalla CEO Yang Tao said. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/gaming\/\">Gaming<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/orascom-construction\/\">Orascom Construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/yalla-group\/\">Yalla Group<\/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=\"92261\" 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=\"92261\">\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\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/22\/millennium-management-adds-to-its-dubai-hires\/\">\r\n                            Millennium Management adds to its Dubai hires                        <\/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\/22\/millennium-management-adds-to-its-dubai-hires\/\" 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\/22\/millennium-management-adds-to-its-dubai-hires\/')\">\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\/22\/millennium-management-adds-to-its-dubai-hires\/\">\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=Millennium Management adds to its Dubai hires&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/22\/millennium-management-adds-to-its-dubai-hires\/\">\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\/22\/millennium-management-adds-to-its-dubai-hires\/&title=Millennium Management adds to its Dubai hires\">\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=Millennium+Management+adds+to+its+Dubai+hires+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F22%2Fmillennium-management-adds-to-its-dubai-hires%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\/22\/millennium-management-adds-to-its-dubai-hires\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1736.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92262\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/22\/millennium-management-adds-to-its-dubai-hires\/1736-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1736.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1736.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1736.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1736.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92261\" class=\"content-area-description single-story post-92261 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-dubai tag-enterpriseam-uae tag-investment tag-moves wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.e8bcd385-6d79-4250-a4cd-7c4687d1b984.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Global investment management firm <strong><a target=\"_blank\" href=\"https:\/\/www.mlp.com\/\" style=\"\" rel=\"noopener\">Millennium Management<\/a><\/strong> appointed <strong>Nader Naeimi<\/strong>(<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/nader-naeimi-54596916\/?originalSubdomain=sg\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as a <strong>senior portfolio manager<\/strong> based out of Dubai, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-21\/millennium-hires-gic-s-naeimi-as-senior-portfolio-manager-in-dubai\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing people familiar with the matter. Naeimi\u2019s experience includes three years at Singaporean sovereign wealth fund GIC, including as managing director and head of multi-asset, global macro, and over two decades at AMP Capital. The hire comes as Millennium ramps up its operations in Dubai, employing some 70 employees in the emirate.<\/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\/dubai\/\">Dubai<\/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\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92263\" 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=\"92264\" 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=\"92264\">\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\">UAE IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/22\/middle-east-lng-producers-can-take-advantage-of-the-us-moratorium-on-lng-export-projects-woodside-ceo-says\/\">\r\n                            Middle East LNG producers have a window of opportunity, Woodside CEO says                        <\/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\/22\/middle-east-lng-producers-can-take-advantage-of-the-us-moratorium-on-lng-export-projects-woodside-ceo-says\/\" 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\/22\/middle-east-lng-producers-can-take-advantage-of-the-us-moratorium-on-lng-export-projects-woodside-ceo-says\/')\">\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\/22\/middle-east-lng-producers-can-take-advantage-of-the-us-moratorium-on-lng-export-projects-woodside-ceo-says\/\">\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=Middle East LNG producers can take advantage of the US\u2019 moratorium on LNG export projects, Woodside CEO says&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/22\/middle-east-lng-producers-can-take-advantage-of-the-us-moratorium-on-lng-export-projects-woodside-ceo-says\/\">\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\/22\/middle-east-lng-producers-can-take-advantage-of-the-us-moratorium-on-lng-export-projects-woodside-ceo-says\/&title=Middle East LNG producers can take advantage of the US\u2019 moratorium on LNG export projects, Woodside CEO says\">\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=Middle+East+LNG+producers+can+take+advantage+of+the+US%E2%80%99+moratorium+on+LNG+export+projects%2C+Woodside+CEO+says+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F22%2Fmiddle-east-lng-producers-can-take-advantage-of-the-us-moratorium-on-lng-export-projects-woodside-ceo-says%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\/22\/middle-east-lng-producers-can-take-advantage-of-the-us-moratorium-on-lng-export-projects-woodside-ceo-says\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/938.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92265\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/22\/middle-east-lng-producers-can-take-advantage-of-the-us-moratorium-on-lng-export-projects-woodside-ceo-says\/938-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/938.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"938.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/938.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/938.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92264\" class=\"content-area-description single-story post-92264 post type-post status-publish format-standard has-post-thumbnail hentry category-uae-in-the-news tag-energy tag-enterpriseam-uae tag-lng tag-uae-in-the-news wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.e8bcd385-6d79-4250-a4cd-7c4687d1b984.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The US\u2019 moratorium on new LNG export projects and sanctions against Russia put <\/strong><strong>Middle East gas producers at an advantage<\/strong>, Australian Woodside Energy CEO Meg O'Neill tells <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/us-lng-pause-opens-opportunities-middle-east-gas-producers-woodside-ceo-says-2024-05-21\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. But while GCC energy giants such as Adnoc and Saudi Aramco are already pursuing acquisitions in the US to expand their liquified natural gas (LNG) trading, \u201cthe question is how does the Middle East respond with a number of different project sanctions,\u201d O\u2019Neill said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- The US <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/companies-most-affected-by-us-pause-lng-export-permits-2024-01-26\/\" style=\"\" rel=\"noopener\">paused<\/a><\/strong><strong> LNG export permits in January <\/strong>until the Department of Energy completes a study on the potential impacts of increased LNG production on climate change.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/lng\/\">LNG<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/uae-in-the-news\/\">UAE IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92266\" 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=\"92266\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/22\/more-on-the-first-state-owned-ev-charging-network\/\">\r\n                            More on the first state-owned EV 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\/22\/more-on-the-first-state-owned-ev-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 charging units will be available at no cost this year and will be accessible in public spaces, workplaces, shopping centers, and residential areas. There are also plans to later install chargers in malls, supermarkets, and government buildings.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>The Energy Ministry and Etihad Water and Electricity (Etihad WE) set up a joint venture <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/edition\/am\/db00f7b7-5b3b-4d42-b25c-88904760e016\/adnoc-makes-its-first-investment-in-the-us\" style=\"\" rel=\"noopener\">earlier this week<\/a> to boost EV charging infrastructure in the UAE. The initiative expects to offset 100k tonnes of CO2 emissions by 2030, equivalent to planting 1.8 mn trees.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">PRINTING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai Investments subsidiary <\/strong><strong><a target=\"_blank\" href=\"https:\/\/emiratesglass.com\/\" style=\"\" rel=\"noopener\">Emirates Glass<\/a><\/strong><strong> has acquired <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.tecglassdigital.com\/\" style=\"\" rel=\"noopener\">Tecglass<\/a><\/strong><strong>\u2019s Vitro-Jet FS <\/strong><strong>Jumbo digital printing production line<\/strong> to quickly print complex designs in various sizes, <a target=\"_blank\" href=\"https:\/\/www.albayan.ae\/economy\/uae\/2024-05-21-1.4875661\" style=\"\" rel=\"noopener\">Al Bayan<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">HEALTHCARE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Pharma giant Pfizer has developed a new once-daily oral capsule for severe alopecia <\/strong><strong>areata<\/strong> in the UAE for patients as young as 12, a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/new-dawn-for-severe-alopecia-areata-patients-in-uae-pfizers-new-breakthrough-unveiled-u0qh00gp\" style=\"\" rel=\"noopener\">press release<\/a> reads. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DISPUTE WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Limitless settles dispute with Deyaar:<\/strong> Dubai-based property developer Deyaar Development received the final AED 300 mn payment from a larger AED 500 mn settlement agreement from real estate developer Limitless on Monday, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1687.pdf\" style=\"\" rel=\"noopener\">DFM disclosure (pdf)<\/a>. The developer said that AED 44 mn of the payment will be added to its income for 2Q 2024. The final settlement payment is expected to increase Deyaar\u2019s liquidity to AED 1.7 bn from AED 1.4 bn, Deyaar CEO Saeed Al Qatami told Al Bayan <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/3213f923-78a0-400c-b307-0644e414020f\/uae-led-ipo-activity-in-terms-of-proceeds-in-the-mena-region-in-1q-2024#:~:text=%232%2D%20Limitless%20to,to%20Al%20Qatami.\" style=\"\" rel=\"noopener\">last week<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>Deyaar received the first AED 200 mn payment in <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/business\/property\/2022\/12\/07\/deyaar-receives-544m-as-settlement-in-land-dispute-with-limitless\/\" style=\"\" rel=\"noopener\">2022<\/a>, after the settlement was approved in 2021 following a court ruling over a land dispute between the two developers, obligating Limitless to pay AED 412 mn to Deyaar, in addition to a compensation of some AED 61 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> CAPITAL MARKETS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Abu Dhabi, Dubai freezone watchdogs fine Sarwa Digital: <\/strong>The Dubai Financial Services Authority (DFSA) imposed AED 1.15 mn in fines on <a target=\"_blank\" href=\"https:\/\/www.sarwa.co\/en\" style=\"\" rel=\"noopener\">Sarwa Digital Wealth<\/a> for making a public share offering through email in 2023 without an approved prospectus, according to two separate statements (<a target=\"_blank\" href=\"https:\/\/www.dfsa.ae\/news\/dfsa-fines-sarwa-digital-wealth-limited-making-public-offer-shares-without-approved-prospectus\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.adgm.com\/media\/announcements\/adgms-financial-regulator-fines-sarwa-digital-wealth-capital-limited\" style=\"\" rel=\"noopener\">here<\/a>). The investing platform received USD 2.1 mn in subscriptions from 144 investors after the share offering email was sent to some 100k users, DFSA\u2019s statement reads.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sarwa was slapped with a USD 191k (AED 709 mn) fine by DFSA,<\/strong> reduced from USD 390k (AED 1.4 mn) following mitigation and settlement, while FSRA levied a financial penalty of USD 122k (AED 450k) on the fintech platform. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Adnoc Gas saw an AED 45.7 mn direct transaction on 15 mn of its shares on the ADX <\/strong><strong>yesterday<\/strong>, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b39jbcy-adx-logs-large-direct-deal-adnoc-gas-worth-aed457\" style=\"\" rel=\"noopener\">Wam<\/a> reports, without disclosing further details. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> TRANSPORT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>RTA to set up digital assets investment platform: <\/strong>Dubai's Roads and Transport Authority (RTA) inked an MoU with SmartCrowd Holding, parent company of real estate investment platform <a target=\"_blank\" href=\"https:\/\/www.smartcrowd.ae\/\" style=\"\" rel=\"noopener\">SmartCrowd<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/www.rta.ae\/wps\/portal\/rta\/ae\/home\/news-and-media\/all-news\/NewsDetails\/signing-an-mou-to-drive-investment-in-digital-assets\" style=\"\" rel=\"noopener\">statement<\/a>. Under the MoU, SmartCrowd will develop a blockchain platform for RTA geared at drawing non-fungible token (NFT) and digital investments for RTA\u2019s upcoming real estate and public assets in Dubai. These assets will include retail stores, rest areas, and service centers. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> LOGISTICS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emirates SkyCargo expanded its e-commerce delivery service to Saudi Arabia, <\/strong>enabling its customers across the Kingdom to receive shipments from retailers in the UK, US, and UAE, the shipping firm <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/96da0b9f-21f3-4ad4-9eaa-f29f4945657f\/ihc-takes-14.83%2525-stake-in-colombian-food-manufacturer-%2B-rpm-closes-prometheus-acquisition#:~:text=UAE%20medical%20services%20giant%20Response%20Plus%20Medical%20(RPM)%20finalized%20its%20acquisition%20of%20UK%2Dbased%20Prometheus%20Medical%20for%20unified%20defense%20and%20energy%20health%20solutions%2C%20according%20to%20an%20ADX%20disclosure%20(pdf).%20The%20value%20of%20the%20transaction%20was%20not%20disclosed\" style=\"\" rel=\"noopener\">said<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Safeen debuts Middle East\u2019s first electric tug: <\/strong>AD Ports\u2019 Safeen Group is piloting an electric tug within its marina service fleet, which should eliminate emissions and increase operational efficiency and cost-effectiveness, according to a <a target=\"_blank\" href=\"https:\/\/www.adportsgroup.\/en\/news-and-media\/2024\/05\/21\/safeen-group-trials-first-electric-tug-in-middle-east-for-marine-services-fleet\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dispute-watch\/\">dispute watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/healthcare\/\">Healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/real-estate\/\">Real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/roads-and-transport-authority\/\">Roads and Transport Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92268\" 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=\"92268\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/22\/crypto-gains-on-etf-optimism\/\">\r\n                            Crypto gains on ETF optimism                        <\/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\/22\/crypto-gains-on-etf-optimism\/\" 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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<\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/22\/crypto-gains-on-etf-optimism\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1679.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92269\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/22\/crypto-gains-on-etf-optimism\/1679-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1679.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1679.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1679.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1679.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92268\" class=\"content-area-description single-story post-92268 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-planet-finance 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\/.e8bcd385-6d79-4250-a4cd-7c4687d1b984.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ether jumps on exchange-traded funds speculation:<\/strong> ETH approached its biggest two-day gain in nearly two years as traders await US regulators' decision on spot exchange-traded funds (ETFs) for ETH, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/cryptocurrencies-gain-investors-turn-optimistic-ether-etfs-2024-05-21\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">The numbers:<\/strong><span style=\"background-color: transparent;\"> The crypto market\u2019s second-largest player was up 7.3% yesterday to sit at USD 3.7k as of midnight. BTC also neared its all-time high on Tuesday, closing at USD 79.7k. BTC has surged 65% in 2024, closely trailed by ETH, which has gained 63%.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Driving the rally: <\/strong>Investors are keeping a close eye on the US Securities and Exchange Commission's (SEC) decision regarding ETH ETFs, expected this week, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/ff8ed8cc-1411-46dd-9627-a8ffd5f37222\" style=\"\" rel=\"noopener\">Financial Times<\/a> writes. \u201cThe political dynamics around crypto in Washington were shifting, after 18 months of regulatory crackdowns and Democrat-led blocks to regulation,\u201d Bernstein analyst Gautaum Chhugani. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Investors <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ff7c363c-9225-49b1-8a2b-d55b6ce8203d\" style=\"\" rel=\"noopener\">poured some USD 900 mn<\/a> into BTC ETFs in the three days after the SEC greenlit the funds. <\/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>Also worth knowing about this morning:<\/strong><\/p>\n<ul>\n<li><strong>Our friends at EFG Hermes have <\/strong><strong>acquired an undisclosed minority stake in the Danish digital wealth manager <\/strong><strong><a target=\"_blank\" href=\"https:\/\/kenziwealth.com\/\" style=\"\" rel=\"noopener\">Kenzi Wealth<\/a><\/strong><strong>.&nbsp;<\/strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/851e9a47-18be-42f2-a8c4-194a5f6eae10\" target=\"_blank\" rel=\"noopener\">EnterpriseAM Egypt<\/a>&nbsp;has more. <\/li>\n<li><strong>Blackstone will grant equity to rank-and-file employees of the companies in which <\/strong><strong>it invests <\/strong>in the United States going forward. The private equity giant\u2019s plan is \u201cpart of a broader movement in the buyout industry to expand ownership beyond management ranks. (<a target=\"_blank\" href=\"https:\/\/www.wsj.com\/finance\/blackstone-to-grant-equity-to-most-employees-in-future-u-s-buyouts-3c5fed45\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>)<\/li>\n<li><strong>The Tadawul All Share Index is nearly 6% behind the <\/strong><strong>MSCI Emerging Markets gauge this year<\/strong> \u2014 Saudi stocks are lagging behind other EM counterparts for the first time since the pandemic. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-21\/saudi-stocks-trail-emerging-peers-for-first-time-since-pandemic?srnd=homepage-middle-east&amp;embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a>) <\/li>\n<\/ul>\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>Asian markets are largely unchanged in early trading <\/strong>this morning. Alone among major benchmarks, Japan\u2019s Nikkei is down (-0.75%) while the Hang Seng, Kospi, and Shanghai Composite are all holding their ground. European and US futures were also pretty much flat overnight after US shares notched fresh highs again yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One weird thing: <\/strong>With all of these fresh highs being hit, there are virtually no headlines out there with random pundits called upon to declare that a correction is in the cards. Heck, even the so-called \u201cfear index\u201d \u2014 the Vix, or volatility index \u2014 is <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/b4fa017b-539b-4533-96dc-10d12aa43be9?\" style=\"\" rel=\"noopener\">trading at a five-year low<\/a>.<\/p>\n<p><a target=\"_blank\" id=\"t.42d96dd77eaea11d632cce6a9b69dd0408ba7ed4\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p>\n<div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,009<\/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: -5.9%)<\/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>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\">4,075<\/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: +0.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">0.0% (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-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>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\">5.4% 1 yr<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,122<\/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: +1.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">27,225<\/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: +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\">5,321<\/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: +11.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,416<\/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: +8.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,047<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.5% (YTD: +11.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 82.88<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.0%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2.66<\/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-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,448<\/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>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 69,658<\/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: +64.8%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The DFM rose 0.2% yesterday<\/strong> on turnover of AED 395 mn. The index is up 0.4% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Orascom Construction (+9.8%), GFH Financial Group (+5.0%) and Emaar Properties (+4.4%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Dubai Refreshment Company (-10.0%), Al Ramz Corporation Investment and Development (-6.7%) and Watania International Holding (-4.0%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over on the ADX<\/strong>, the index fell 0.3% on turnover of AED 1.2 bn. Meanwhile, Nasdaq Dubai stayed flat.<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92270\" 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\/22\/92270-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92270\" class=\"content-area-description single-story post-92270 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 style=\"font-weight:400;\">, Abu Dhabi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>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 style=\"font-weight:400;\">, 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 style=\"font-weight:400;\">, Rosewood 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>27-28 May (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/moiat.gov.ae\/en\/make-it-in-emirates-forum\" style=\"\">Make it in the Emirates Forum<\/a><\/span><span>, Abu Dhabi Energy Centre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">27-29 May (Monday-Wednesday): Arab Media Forum, Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span 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 style=\"font-weight:400;\">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 style=\"font-weight:400;\">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>Fitch upgrades RAK\u2019s issuer rating | Emirates Islamic sells USD 750 mn green sukuk | France, UAE ink AI partnership<\/p>\n","protected":false},"featured_media":92243,"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-92242","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"e1189319-daba-4555-9112-20c6d9991800","teaser":"Fitch upgrades RAK\u2019s issuer rating | Emirates Islamic sells USD 750 mn green sukuk | France, UAE ink AI partnership","photo_url":"https:\/\/ent.news\/2024\/4\/436.jpg"},"yoast_head":"<!-- This site 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