{"id":92345,"date":"2024-05-24T00:00:00","date_gmt":"2024-05-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=92345"},"modified":"2025-12-15T00:26:20","modified_gmt":"2025-12-15T00:26:20","slug":"adnoc-drilling-sells-usd-935-mn-stake-in-secondary-sale","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/adnoc-drilling-sells-usd-935-mn-stake-in-secondary-sale\/","title":{"rendered":"Adnoc Drilling sells USD 935 mn stake in secondary sale"},"content":{"rendered":"<section id=\"92347\" 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=\"92347\">\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\/24\/g42-could-get-crucial-ai-infrastructure-from-microsoft\/\">\r\n                            THIS MORNING: G42 could get crucial AI infrastructure from Microsoft + the UAE was the fifth biggest adopter of crypto in 2023                        <\/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\/24\/g42-could-get-crucial-ai-infrastructure-from-microsoft\/\" 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size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92348\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/24\/g42-could-get-crucial-ai-infrastructure-from-microsoft\/1083-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1083.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1083.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1083.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1083.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92347\" class=\"content-area-description single-story post-92347 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-abu-dhabi-investment-authority tag-capital-markets tag-g42 tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.a8224e4b-b67e-4a81-9334-a9c7cef6d9ca.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Good morning, lovely people. <\/strong><span style=\"background-color: transparent;\">We\u2019re wrapping up a busy week with a compact issue to send you off into the weekend.<\/span><\/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 of news here at home<\/strong>, with the biggest stories being Adnoc Drilling\u2019s sale of a USD 935 mn stake to investors, and Eagle Hills\u2019 EUR 3 bn investment in Latvia. <strong>Also worth your attention this morning:<\/strong> We have fresh data out on the economy in 2023, indicating continued growth of the non-oil economy. <\/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 more of the same in both Dubai and Abu Dhabi this weekend<\/strong>, with Dubai seeing the mercury hit 39\u00b0C today and 40\u00b0C tomorrow, before rising to a sweltering 42\u00b0C on Sunday. Expect a low of 30\u00b0C tonight. Abu Dhabi will be slightly cooler, with highs of 33\u00b0C on Saturday and 35\u00b0C on Sunday, and a low of 31\u00b0C tonight. <\/p>\n<p class=\"tag-border-left\"> PUBLIC SERVICE ANNOUNCEMENTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Companies with licenses issued in January and February have until next<\/strong><strong> Friday, 31 May to submit their corporate tax registrations<\/strong>, the Federal Tax Authority said in a <a target=\"_blank\" href=\"https:\/\/tax.gov.ae\/en\/media.centre\/news\/federal.tax.authority.urges.resident.juridical.persons.with.licenses.issued.in.january.and.february.to.submit.corporate.tax.registration.applications.by.31.may.2024.aspx\" style=\"\" rel=\"noopener\">statement<\/a>. Companies that fail to submit their registration applications by next week\u2019s deadline will face a fine of <a target=\"_blank\" href=\"https:\/\/mof.gov.ae\/aed10000-penalty-for-late-corporate-tax-registration\/\" style=\"\" rel=\"noopener\">AED 10k<\/a>, the Finance Ministry said previously.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>You can register<\/strong> via the Federal Tax Authority\u2019s <a target=\"_blank\" href=\"https:\/\/eservices.tax.gov.ae\/#\/Logon\" style=\"\" rel=\"noopener\">EmaraTax platform<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Applications to register in the Economy Ministry\u2019s unified registry for family <\/strong><strong>businesses are now open<\/strong>, state news agency <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3aq68l-ministry-economy-opens-registration-unified\" style=\"\" rel=\"noopener\">Wam<\/a> reports. Family companies should submit requests to the licensing authority that issued their economic license, which will forward the applications to the ministry. Decisions will be based on companies\u2019 compliance with the regulations and conditions stipulated in the Family Businesses Law.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>The ministry launched the unified registry in <a target=\"_blank\" href=\"https:\/\/www.moec.gov.ae\/en\/-\/ministry-of-economy-launches-unified-family-businesses-registry-and-reviews-four-new-decisions-to-strengthen-the-sector-s-governance\" style=\"\" rel=\"noopener\">December 2023<\/a> to build a comprehensive and standardized database of family businesses, and improve governance. Registrations are voluntary for family businesses.<\/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=\"wwtt1\"><\/a> <strong>#<\/strong><strong>1- Microsoft to send G42 AI infrastructure? <\/strong>Microsoft\u2019s agreement with International Holding Company-backed tech and AI group G42 could move forward to a \u201csecond phase\u201d that would see the US tech giant exporting \u201ccrucial components of AI technology such as model weights\u201d to G42, Microsoft President Brad Smith told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/microsofts-uae-deal-could-transfer-key-us-chips-ai-technology-abroad-2024-05-23\/\" style=\"\" rel=\"noopener\">Reuters<\/a> last week. Smith did not disclose a timeline for this phase of the project.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI #1- <\/strong>Microsoft invested some <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ab8a12c3-4caf-4243-940c-f007b4d33c7a\/%253cmark%253emicrosoft%253c%2Fmark%253e-writes-usd-1.5-bn-ticket-for-g42\" style=\"\" rel=\"noopener\">USD 1.5 bn<\/a> in G42 to position the UAE as a \u201cglobal AI hub.\u201d The firms also inked an agreement <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/d624ca56-ec09-48f6-af7f-2966baa906be\/%253cmark%253emicrosoft%253c%2Fmark%253e-and-g42-invest-usd-1-bn-in-kenya-geothermal-data-center\" style=\"\" rel=\"noopener\">earlier this week<\/a> to build a USD 1 bn geothermal data center in Kenya. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Potential hiccup: <\/strong>The transaction requires approval from the US Department of Commerce after the Biden administration made it mandatory in October for large AI systems makers to share details with the government amid growing concerns about regulating AI exports. \u201cCongress still has not received a comprehensive briefing from the executive branch about this agreement,\u201d raising concerns that \u201cthe right guardrails are not in place to protect sensitive US-origin technology from Chinese espionage,\u201d Reuters cites Republican Congressman Michael McCaul as saying.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI #2-<\/strong>G42 had <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/edition\/am\/45bff422-6aef-41f5-bd13-0fce03beb4d9\/Real-estate-market-growth-will-be-driven-by-expats-%2B-HNWI,-Markaz-suggests\" style=\"\" rel=\"noopener\">offloaded all its stakes in Chinese businesses<\/a> in a bid to reportedly appease US partners. Reports out at the time claimed that G42 held private talks with the US Commerce Department\u2019s Bureau Industry and Security for G42 to scale down its investments in Chinese businesses, which ultimately paved the way for Microsoft\u2019s investment. G42 could back away even more from China, including giving up its use of Huawei telecom equipment, which Washington \u201cfears could provide a backdoor for the Chinese intelligence agencies,\u201d according to <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/04\/16\/technology\/microsoft-g42-uae-ai.html\" style=\"\" rel=\"noopener\">the New York Times<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not entirely off the table: <\/strong>Microsoft said its agreement with G42 has safeguards \u201cto protect Microsoft's technology and prevent it from being used by Chinese entities,\u201d including a \u2018know your customer\u2019 rule to determine who is using Microsoft's technology. Microsoft can impose financial penalties on G42 for breach, with the penalties enforceable in arbitration courts in London. The company is also seeking out alternative options to protect its technology, such as physically separating parts of data centers where AI chips and model weights are stored, and restricting physical access. \u201cI suspect by the time we're done, we're going to end up with a regulatory regime or trade export control approach that will be applicable broadly and not just to Microsoft and G42,\u201d Smith said.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Adia-backed National Grid to raise GBP 7 bn in share sale:<\/strong> LSE-listed British energy distributor National Grid \u2014 in which Abu Dhabi Investment Authority (Adia) holds a <a target=\"_blank\" href=\"https:\/\/www.common-wealth.org\/publications\/national-grid-ownership\" style=\"\" rel=\"noopener\">3% stake<\/a> \u2014 plans to raise GBP 7 bn in fresh capital by offering shareholders new shares via a rights issue, the company said in a <a target=\"_blank\" href=\"https:\/\/www.londonstockexchange.com\/news-article\/NG.\/7-for-24-fully-underwritten-ps7bn-rights-issue\/16483990\" style=\"\" rel=\"noopener\">disclosure<\/a>. National Grid will launch the share sale as part of a five-year GBP 60 bn investment plan. <\/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=\"wwtt3\"><\/a> <strong>#1- Institutional-grade buildings in Abu Dhabi logged a 94% occupancy rate in <\/strong><strong>1Q 2024<\/strong>, up from 92.5% the previous year, according to commercial real estate agency CBRE Middle East\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1916.pdf\" style=\"\" rel=\"noopener\">UAE Office Market Review 1Q 2024 (pdf)<\/a>. Neighboring Dubai saw its occupancy rate increase by a little over one percentage point to 91.3% during the quarter. Occupier demand in Abu Dhabi primarily stemmed from government-linked entities, particularly in on-shore locations, while financial services \u2014 including hedge funds and asset management firms \u2014 drove demand in Dubai.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Dubai saw a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/df6674c9-a027-442c-b05f-b05277ef01f8\/the-dubai-property-boom-continued-in-1q-2024-%25e2%2580%2593%253cmark%253ecbre%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">35.8% y-o-y surge<\/a> in office rental registrations in 1Q 2024, while Abu Dhabi saw a 9.1% y-o-y increase in total office rental contracts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Rental rates surged across both emirates:<\/strong> Abu Dhabi\u2019s Grade B office space registered the highest rental growth rate in the emirate in 1Q at 9.7%, followed by Prime (6.6%) and Grade A (3.4%) developments, the report adds. Dubai witnessed more pronounced rental increases across its Prime (7.6%), Grade A (17.9%), Grade B (21.6%), and Grade C (16.8%) rents. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#2- The UAE ranked fifth globally in crypto adoption in 2023<\/strong>, with 30.4% of the population holding crypto \u2014 the highest percentage among the top-ranked countries, according to research from <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/research-and-studies\/the-rise-of-crypto-uae-named-fifth-most-crypto-friendly-country-ambo5nui\" style=\"\" rel=\"noopener\">CryptoCasinos<\/a>. The UAE scored 70.76 out of 100 based on metrics including the cost to mine one BTC, net income from mining one BTC, search volume per 100k, and the penetration of crypto among the population. Argentina sits at the top of the ranking with a score of 74.49, followed by the US (73.52), Colombia (72.89), and Ukraine (72.77). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3-<\/strong><strong>The banking sector is poised to grow 7-8% y-o-y in 2024<\/strong>, Director General of the UAE Banks Federation Jamal Saleh told CNBC Arabia <a target=\"_blank\" href=\"https:\/\/www.cnbcarabia.com\/123569\/2024\/5\/22\/%D9%85%D8%AF%D9%8A%D8%B1-%D8%B9%D8%A7%D9%85-%D8%A7%D8%AA%D8%AD%D8%A7%D8%AF-%D9%85%D8%B5%D8%A7%D8%B1%D9%81-%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D9%84%D9%80-CNBC-%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9:-%D9%86%D8%AA%D9%88%D9%82%D8%B9-%D8%AA%D8%AD%D9%82%D9%8A%D9%82-%D8%A7%D9%84%D9%82%D8%B7%D8%A7%D8%B9-%D9%86%D8%B3%D8%A8%D8%A9-%D9%86%D9%85%D9%88-%D8%AA%D8%AA%D8%B1%D8%A7%D9%88%D8%AD-%D8%A8%D9%8A%D9%86-7--%D9%888--%D8%AE%D9%84%D8%A7%D9%84-%D8%A7%D9%84%D8%B9%D8%A7%D9%85-%D8%A7%D9%84%D8%AD%D8%A7%D9%84%D9%8A\" style=\"\" rel=\"noopener\">(watch, runtime, 5:36)<\/a>. Saleh pointed to expectations for the GDP to expand 4% y-o-y, noting that the banking sector typically records growth at least at twice the rate of GDP.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Total bank assets crossed the USD 1 tn mark in 2023<\/strong>, with some UAE banks \u2014 such as <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/7632ce27-08c2-4ba9-9a4e-875e9a94ace1\/fab%25e2%2580%2599s-net-income-jumps-56%2525-in-2023-%2B-adnoc%25e2%2580%2599s-borouge-sees-annual-bottom-line-dip#:~:text=Total%20assets%20hit%20AED%201.2%20bn%3A%20%E2%80%9CWe%20further%20consolidated%20our%20leading%20position%20as%20one%20of%20the%20largest%20global%20banks%2C%20with%20total%20assets%20increasing%20to%20AED%201.2%20tn%2C%E2%80%9D%20FAB%20chairman%20Sheikh%20Tahnoon%20Bin%20Zayed%20Al%20Nahyan%20said%20in%20the%20earnings%20release%20(pdf).\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/7632ce27-08c2-4ba9-9a4e-875e9a94ace1\/fab%25e2%2580%2599s-net-income-jumps-56%2525-in-2023-%2B-adnoc%25e2%2580%2599s-borouge-sees-annual-bottom-line-dip#:~:text=Total%20assets%20hit%20AED%201.2%20bn%3A%20%E2%80%9CWe%20further%20consolidated%20our%20leading%20position%20as%20one%20of%20the%20largest%20global%20banks%2C%20with%20total%20assets%20increasing%20to%20AED%201.2%20tn%2C%E2%80%9D%20FAB%20chairman%20Sheikh%20Tahnoon%20Bin%20Zayed%20Al%20Nahyan%20said%20in%20the%20earnings%20release%20(pdf).\" style=\"\" rel=\"noopener\">First Abu Dhabi<\/a> \u2014 having assets that top AED 1 tn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Consumer confidence in the UAE banking sector has <\/strong><strong>climbed to 90%<\/strong>, some 27 percentage points above the global average, Saleh said. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#4- The UAE ranked second globally as a commodity trade hub in commodity trade with a <\/strong><strong>50% score<\/strong> on the Commodity Trade Index, maintaining its 2022 rank, according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1814.pdf\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1814.pdf\" style=\"\" rel=\"noopener\">Future of Trade report (pdf)<\/a> by Dubai Multi Commodities Center. The index assesses the trading sectors of 10 countries by analyzing three commodity trade categories across 10 sub-indicators. The UAE placed first in the commodity endowment factors category with a 77% score, driven by its oil output, and ranked fourth in the institutional factors category, scoring 66% on the back of its flexible tax rates and resilient trade logistics infrastructure. <\/p>\n<p class=\"tag-border-left\">HAPPENING NEXT WEEK- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- President Sheikh Mohamed bin Zayed Al Nahyan will head to South Korea on a <\/strong><strong>two-day visit next Tuesday, 28 May,<\/strong> at the invitation of South Korean President Yoon Suk Yeol, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3a4qe7-uae-president-commence-state-visit-republic-korea\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The state leaders will discuss ramping up cooperation in trade, investment, energy, and technology, in addition to regional and international developments. Marking the president\u2019s first visit to Korea, the landmark working visit is expected to see the two countries sign a number of investment agreements and MoUs to bolster bilateral business cooperation, according to Korean news portal <a target=\"_blank\" href=\"https:\/\/www.korea.net\/NewsFocus\/policies\/view?articleId=251879&amp;koreanId=251878\" style=\"\" rel=\"noopener\">Korea.net<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The Central Bank of the UAE (CBUAE) will <\/strong><strong>auction four m-bills worth up to AED 15 bn Monday<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1850.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. Three of the m-bills are tap issuances, with the four having tenors ranging from 28 to 280 days.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Decoding central bank speak:<\/strong> M-bills are short-term securities issued in AED by the CBUAE at no interest. The bonds typically have maturity dates of one to 12 months and are not retrievable through any other listing. A tap issuance allows the CBUAE to more finely control money supply by allowing it the flexibility to continue selling bills past the initial auction date.<\/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- A big week ahead for Arab diplomacy? <\/strong> The foreign ministers of Saudi Arabia, the United Arab Emirates, Egypt, Jordan and Qatar will <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/arab-eu-ministers-discuss-gaza-war-peace-efforts-2024-05-22\/\" style=\"\" rel=\"noopener\">join their 27 European Union counterparts<\/a> in Brussels on Monday for talks. Look for the war in Gaza and the post-war order there to take center stage. Foreign Minister Prince Faisal bin Farhan, meanwhile, was in Tehran yesterday for the funeral of Iranian President Ebrahim Raisi. Bin Farhan was joined by the FMs of the UAE and Kuwait as well as the emir of Qatar.<\/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 quiet day in the foreign press this morning<\/strong>, but <strong>Wall Street\u2019s seesaw<\/strong> yesterday is on everyone\u2019s minds. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Dow Industrial Jones had its worst day yet this year<\/strong>, falling 1.53% despite the post-earnings rally in Nvidia, which had lifted the broader market earlier in the day. The S&amp;P 500 was not far off, with more than 400 stocks in the red at the end of trading, despite notching record highs earlier in the day. Nasdaq was also down 0.39%. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/20697f42-83fa-423e-8678-dc1b4191a2fe\" style=\"\" rel=\"noopener\">FT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/05\/22\/stock-market-today-live-updates.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/stock-market-china-inflation-rates-e13634fc3292c49b2261fd51bb344e14\" style=\"\" rel=\"noopener\">AP<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/nasdaq-sp-500-futures-pop-nvidia-fuels-chip-stocks-rally-2024-05-23\/\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The reasons behind the drop? <\/strong>A mix of strong economic data, high treasury yields, and<font face=\"Arial\"> <\/font>US Federal Reserve\u2019s minutes from its latest monetary policy meeting dampened expectations of a rate cut in September. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Stock markets in the Gulf also had a bad day<\/strong>, with the ADX falling to its lowest level in two years, and the DFM down 0.8%, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/abu-dhabi-index-hits-2-year-low-gulf-bourses-slip-hawkish-fed-minutes-2024-05-23\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. Over in Saudi Arabia, the Tadawul was also down 1.3%, with almost all sectors in the red. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Speaking of the ADX: ADX-listed <\/strong><strong>crypto conglomerate Phoenix Group\u2019s is \u201cmonitoring\u201d its share price after it <\/strong><strong>dipped 7% on Wednesday,<\/strong> closing at AED 1.8, down from AED 1.95, in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1908.pdf\" style=\"\" rel=\"noopener\">ADX filing (pdf)<\/a> yesterday. The company said it does not have any information that could negatively affect the share price or that hasn\u2019t been shared with the market. Its shares fell another 7% yesterday to AED 1.68. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN KEEPING WITH THE CAPITAL MARKETS THEME- Ethereum ETFs on the way? <\/strong>The US Securities and Exchange Commission approved rule changes that pave the way for the introduction of ethereum ETFs.(<a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/05\/23\/sec-approves-rule-change-to-allow-creation-of-ether-etfs.html\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-23\/sec-opens-the-door-for-spot-ether-etfs-in-major-crypto-victory\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/05\/23\/sec-approves-rule-change-to-allow-creation-of-ether-etfs.html\" style=\"\" rel=\"noopener\">CNBC<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO GETTING ATTENTION- Elon Musk\u2019s SpaceX could sell shares valuing the company at USD 200 bn in June<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-23\/spacex-considering-tender-offer-to-boost-value-to-200-billion?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. <\/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\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi-investment-authority\/\">Abu Dhabi Investment Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/g42\/\">G42<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92349\" 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=\"92349\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">CAPITAL MARKETS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/24\/adnoc-drilling-sold-usd-935-mn-stake-in-secondary-sale\/\">\r\n                            Adnoc Drilling sold USD 935 mn stake in secondary sale                        <\/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\/24\/adnoc-drilling-sold-usd-935-mn-stake-in-secondary-sale\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The company set its final offering price at AED 3.9 per share, 70% above its IPO price of AED 2.3.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">ICYMI- <\/strong><span style=\"background-color: transparent;\">Adnoc announced plans to offer up a <\/span><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/edition\/am\/3262bc3a-95da-4ff1-8bb3-c6ca934de9d7\/adnoc-drilling-to-sell-5.5%2525-stake\" rel=\"noopener\">5.5% stake (or 880 mn shares)<\/a><span style=\"background-color: transparent;\"> in its drilling unit, Adnoc Drilling, in a secondary sale to institutional investors on Wednesday. The stake was initially valued at USD 989 mn, based on Adnoc Drilling\u2019s closing share price of AED 4.13 at the time. Adnoc Drilling went public in <\/span><a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/details\/1395302974136\" rel=\"noopener\">October 2021<\/a><span style=\"background-color: transparent;\">, offering an 11% stake and raising USD 1.1 bn. Adnoc retained an 84% stake, while Baker Hughes held a 5% stake in the drilling arm.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The increased freefloat allows Adnoc Drilling to join the MSCI Emerging Market Index<\/strong> at the next quarterly index review, Adnoc said earlier. It will also \u201cenhance liquidity and trading in Adnoc Drilling\u2019s ordinary shares and diversify its shareholder base.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Current ownership breakdown: <\/strong>The share sale increases the Adnoc subsidiary\u2019s free float to 16.5%, with Adnoc holding onto a 78.5% shareholding. The company has agreed not to sell further shares for six months from the offering's close. Final share settlement is expected to take place on or around 28 May, according to the disclosure.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reax: <\/strong>Adnoc Drilling\u2019s share price rose 1.7% to AED 4.2 a piece at yesterday\u2019s close.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors: <\/strong>Our friends at <strong>EFG Hermes UAE<\/strong>, along with <strong>First Abu Dhabi Bank<\/strong>, <strong>Goldman Sachs International<\/strong> and <strong>JP Morgan Securities<\/strong> are joint global coordinators and joint bookrunners for the offering.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adnoc\/\">Adnoc<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adnoc-drilling\/\">Adnoc Drilling<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92351\" 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=\"92351\">\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\/24\/the-uae-saw-3-6-growth-last-year\/\">\r\n                            Overall GDP grew 3.6% in 2023, while non-oil GDP grew 6.2%                        <\/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\/24\/the-uae-saw-3-6-growth-last-year\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2024\/05\/24\/the-uae-saw-3-6-growth-last-year\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/uae\/2024\/05\/24\/the-uae-saw-3-6-growth-last-year\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The UAE saw 3.6% growth last year&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/24\/the-uae-saw-3-6-growth-last-year\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/24\/the-uae-saw-3-6-growth-last-year\/&title=The UAE saw 3.6% growth last year\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+UAE+saw+3.6%25+growth+last+year+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F24%2Fthe-uae-saw-3-6-growth-last-year%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/24\/the-uae-saw-3-6-growth-last-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1787.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92352\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/24\/the-uae-saw-3-6-growth-last-year\/1787-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1787.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1787.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1787.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1787.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92351\" class=\"content-area-description single-story post-92351 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam-uae tag-gdp 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\/.822fba6e-8e88-449a-8051-1d44c2630bdf.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The economy grew 3.6% in 2023, with the non-oil economy growing 6.2%<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1918.pdf\" style=\"\" rel=\"noopener\">figures (pdf)<\/a> published by the Federal Competitiveness and Statistics Center. Oil GDP was down 3.1% amid oil cartel Opec\u2019s supply cuts, which drove down output. <\/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 biggest driver of growth in the non-oil sector was financial services<\/strong><span style=\"background-color: transparent;\">, which grew nearly 15%, according to the figures. This reflects \u201coutstanding earnings by banks, but also the outstanding growth of the financial services sector,\u201d Emirates NBD Chief Economist and Head of Research Khatija Haque told Bloomberg (<\/span><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/videos\/2024-05-23\/haque-uae-saudi-non-oil-growth-resilient-video\" rel=\"noopener\">watch, runtime: 06:22<\/a><span style=\"background-color: transparent;\">).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The growth of the sector comes on the back of the relocation of asset managers, family offices, and hedge funds<\/strong> to Dubai and Abu Dhabi, Haque said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Other sectors driving growth: <\/strong>The country also saw a strong rebound in transport and logistics, which grew 11.5%, according to the figures. Construction followed closely with almost 9% growth, while real estate saw 6% growth. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Abu Dhabi\u2019s non-oil economy <a target=\"_blank\" href=\"http:\/\/enterprise.news\/uae\/en\/news\/story\/1db045fb-04a9-476c-8cab-f7e08479f191\/abu-dhabi'\" style=\"\" rel=\"noopener\">grew<\/a> 9.1% y-o-y last year, with real GDP growing 3.1%. Data out earlier this week <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/85055f3b-e614-466e-b313-8137d24e5bfb\/sharjah'\" style=\"\" rel=\"noopener\">also showed<\/a> Sharjah\u2019s non-oil economy growing 7.1% y-o-y, with GDP growing 6.5% y-o-y. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Public sector investment in infrastructure and construction will continue to drive growth<\/strong>, in light of big projects like Etihad Rail and Al Maktoum Airport, Haque added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What to expect in 2024:<\/strong> The International Monetary Fund (IMF) <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/57f9e5de-1f29-4d81-a76b-eb904fb63daa\/the-imf-now-sees-the-economy-growing-4%2525-this-year\" style=\"\" rel=\"noopener\">recently revised upward<\/a> its 2024 growth forecast for the UAE to 4%.The Economy Ministry and the World Bank also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/318537b9-5c80-4406-845e-4a7a283a0de3\/it%25e2%2580%2599s-international-gdp-forecast-day\" style=\"\" rel=\"noopener\">expect<\/a> growth to come in at 3.9% clip in 2024, while Oxford Economics is more bullish, expecting 4.4% growth, and the Central Bank of the UAE <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/3a93b9d0-a516-4b2b-8f3f-dd9f0aa362db\/cbuae-downgrades-its-growth-projections-for-2024,-saying-economy-will-grow-4.2%2525\" style=\"\" rel=\"noopener\">forecasts<\/a> 4.2% growth. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/economy\/\">Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92353 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"92353\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/24\/92353-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92353\" class=\"content-area-description single-story post-92353 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.mashreq.com\/en\/uae\/about-us\/our-company\/awards-accolades\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1928.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92354\" 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=\"92354\">\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\">INVESTMENT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/24\/eagle-hills-to-invest-eur-3-bn-into-redevelopment-of-a-beachfront-in-latvia\/\">\r\n                            Eagle Hills to invest EUR 3 bn into redevelopment of a beachfront in Latvia                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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redevelopment of a beachfront in Latvia\">\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=Eagle+Hills+to+invest+EUR+3+bn+into+redevelopment+of+a+beachfront+in+Latvia+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F24%2Feagle-hills-to-invest-eur-3-bn-into-redevelopment-of-a-beachfront-in-latvia%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\/24\/eagle-hills-to-invest-eur-3-bn-into-redevelopment-of-a-beachfront-in-latvia\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1913.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92355\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/24\/eagle-hills-to-invest-eur-3-bn-into-redevelopment-of-a-beachfront-in-latvia\/1913-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1913.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1913.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1913.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1913.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92354\" class=\"content-area-description single-story post-92354 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-construction tag-real-estate 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\/.d567a5a4-dca1-4493-be2a-1aff64e40b85.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Eagle Hills adds to its Europe portfolio: <\/strong>Abu-Dhabi based real estate developer Eagle Hills will invest EUR 3 bn to redevelop a beachfront in Riga, the capital of Latvia, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-22\/abu-dhabi-firm-plans-3-billion-latvia-project-in-europe-push?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing the company. The project, Riga Waterfront, will be built in phases, with the handover slated for sometime in the next 10-15 years, Bloomberg says, citing the Riga City Council.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">About the project: <\/strong><span style=\"background-color: transparent;\">Riga Waterfront will host 8k homes, 1k hotel rooms, a cruise terminal, and retail and entertainment facilities along a 5 km stretch in the old port area. It will also include schools, community centers, and public spaces, all equipped with waste management systems and energy-efficient buildings to promote sustainability, the company said.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Plus Latvian residency for investors? <\/strong>A EUR 250k investment in the new development could potentially grant buyers residency in Latvia, the company said, though Bloomberg notes that the government had tightened oversight of the program and had planned to phase it out. Latvia and the UAE are negotiating an investment protection agreement, with a UAE delegation \u2014 including Foreign Trade Minister Thani Al Zeyoudi \u2014 meeting with the Latvian PM and President earlier this week.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Eagle Hills has been expanding its reach in recent months: <\/strong>The Abu Dhabi-based developer agreed in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/c90bed8e-937b-4b69-a5e8-8ac3d6383796\/%253cmark%253eeagle-hills%253c%2Fmark%253e-to-invest-eur-5-bn-into-development-of-a-railway-station-in-budapest\" style=\"\" rel=\"noopener\">March<\/a> to invest EUR 5 bn to develop a railway station in Budapest, with the details of the project expected to be worked out in 1H 2024. Eagle Hills also acquired Croatian hotel group Suncani Hvar from Czech-based real estate company CPI Property Group for an undisclosed sum in <a target=\"_blank\" href=\"https:\/\/www.arabianbusiness.com\/industries\/travel-hospitality\/eagle-hills-takes-over-hotels-on-capri-of-the-adriatic\" style=\"\" rel=\"noopener\">November 2023<\/a>.<\/p>\n<p class=\"tag-border-left\">IN OTHER INVESTMENT NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Venture capital firm Shorooq Partners reached first close on its second USD 100 <\/strong><strong>mn venture debt fund<\/strong>, Nahda Fund II, with backing from regional and Korean investors, according to a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/shorooqpartners_abu-dhabis-shorooq-eyes-100-million-fund-activity-7199318254480166913-DCmH?utm_source=share&amp;utm_medium=member_desktop\" style=\"\" rel=\"noopener\">company statement<\/a>. The fund was launched with the USD 6 bn Korean private equity firm IMM Investment, which will also become a minority partner in the fund, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-23\/abu-dhabi-s-shorooq-eyes-100-million-fund-with-korean-backing\" style=\"\" rel=\"noopener\">Bloomberg<\/a> writes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Nahda II:<\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f3cf0b88-dad8-4a22-846a-619a8e965ea7\/shorooq-partners-launches-second-venture-debt-fund\" style=\"\" rel=\"noopener\">The fund<\/a> aims to deploy USD 100 mn in early-stage, high-growth startups and enterprises in the Saudi and UAE markets. Nahda will focus on tech firms with top line profitability and fast growth, which demonstrate the ability to pay back the venture debt.<\/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\/construction\/\">CONSTRUCTION<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/real-estate\/\">Real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92356\" 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=\"92356\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/24\/mubadala-plans-sale-of-usd-950-mn-globalfoundries-shares-up-to-usd-750-mn-formosa-bonds\/\">\r\n                            Mubadala to sell USD 950 mn GlobalFoundries shares, up to USD 750 mn Formosa bonds                        <\/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\" 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data-image-meta=\"[]\" data-image-title=\"1932.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1932.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1932.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92356\" class=\"content-area-description single-story post-92356 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-debt tag-ipo tag-ma-watch tag-mubadala 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\/.91e0d041-e633-485b-8f3d-16743090b1bb.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Mubadala Tech to sell GlobalFoundries stake in secondary offering: <\/strong>Abu Dhabi sovereign wealth fund Mubadala subsidiary Mubadala Technology Investment Company is looking to sell a portion of its stake in semiconductor manufacturer <a target=\"_blank\" href=\"https:\/\/gf.com\/\" style=\"\" rel=\"noopener\">GlobalFoundries<\/a> on Nasdaq, seeking to raise USD 950 mn, a <a target=\"_blank\" href=\"https:\/\/www.globenewswire.com\/news-release\/2024\/05\/23\/2886965\/0\/en\/GlobalFoundries-Announces-Pricing-of-950-Million-Secondary-Offering-of-Ordinary-Shares-Including-Concurrent-200-Million-Share-Repurchase.html#:~:text=GlobalFoundries%20has%20agreed%20to%20concurrently,the%20%E2%80%9CShare%20Repurchase%E2%80%9D\" style=\"\" rel=\"noopener\">press release<\/a> reads. GlobalFoundries has an estimated value of around USD 30.5 bn with its shares down 8.9% for the year, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-22\/mubadala-offers-to-sell-950-million-of-globalfoundries-shares\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. The offering will conclude on Tuesday, 28 May. <\/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 offering price:<\/strong><span style=\"background-color: transparent;\"> Shares will be offered at USD 50.75-52.50 apiece, according to the terms of the transaction seen by Bloomberg.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More details:<\/strong> GlobalFoundries will buy back USD 200 mn worth of shares at the offering price using cash from its balance sheet. The underwriters will also have the option to purchase an additional USD 112.5 mn worth of GlobalFoundries' ordinary shares at the public offering price, minus commissions and fees, within 30 days, according to the statement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mubadala is GlobalFoundries\u2019 majority shareholder with an 85% stake <\/strong>prior to the share sale, Bloomberg notes. GlobalFoundries and Mubadala raised around USD 2.9 bn in the chipmaker\u2019s IPO back in 2021. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reax: <\/strong>Shares in GlobalFoundries were down 8.5% yesterday to AED 50.49.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong> Morgan Stanley, BofA Securities, Citigroup, Goldman Sachs, J.P. Morgan, Deutsche Bank Securities, Evercore ISI, and HSBC Securities (USA) are the book-running managers for the offering. Baird, Needham &amp; Company, Raymond James, Wedbush Securities, Drexel Hamilton, and Siebert Williams Shank are co-managers.<\/p>\n<p class=\"tag-border-left\">MORE MUBADALA NEWS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mubadala to raise up to USD 750 mn in Formosa bond sale: <\/strong>Mubadala is set to raise between USD 500-750 mn from the sale of 10-year USD-denominated Formosa bonds, <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/markets\/fixed-income\/mubadala-expects-to-raise-up-to-750mln-form-10-year-formosa-bond-sale-ifr-says-qcvgrcz1\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing fixed-income news service IFR. Orders for the issuance attracted over USD 3.3 bn in orders, prompting the wealth fund to narrow the price guidance to 80-85 basis points (bps) over US Treasuries, down from an earlier spread of around 110 bps. <\/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\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ipo\/\">IPO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/mubadala\/\">Mubadala<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92358\" 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=\"92358\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/24\/blue-hat-plans-to-acquire-dubai-based-exchange-gtc-multi-trading\/\">\r\n                            Blue Hat plans to acquire Dubai-based exchange GTC Multi Trading                        <\/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\/24\/blue-hat-plans-to-acquire-dubai-based-exchange-gtc-multi-trading\/\" 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\/24\/blue-hat-plans-to-acquire-dubai-based-exchange-gtc-multi-trading\/')\">\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\/24\/blue-hat-plans-to-acquire-dubai-based-exchange-gtc-multi-trading\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Blue Hat plans to acquire Dubai-based exchange GTC Multi Trading&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/24\/blue-hat-plans-to-acquire-dubai-based-exchange-gtc-multi-trading\/\">\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\/24\/blue-hat-plans-to-acquire-dubai-based-exchange-gtc-multi-trading\/&title=Blue Hat plans to acquire Dubai-based exchange GTC Multi Trading\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Blue+Hat+plans+to+acquire+Dubai-based+exchange+GTC+Multi+Trading+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F24%2Fblue-hat-plans-to-acquire-dubai-based-exchange-gtc-multi-trading%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\/24\/blue-hat-plans-to-acquire-dubai-based-exchange-gtc-multi-trading\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1775.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92359\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/24\/blue-hat-plans-to-acquire-dubai-based-exchange-gtc-multi-trading\/1775-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1775.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1775.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1775.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1775.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92358\" class=\"content-area-description single-story post-92358 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-enterpriseam-uae tag-fintech tag-gaming tag-ma-watch tag-trading 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\/.bd6be545-1e61-4ff3-bc1c-aac4594fbd49.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Nasdaq-listed Blue Hat mulls acquisition of Dubai-based broker: <\/strong>Chineseaugmented reality gaming developer <a target=\"_blank\" href=\"https:\/\/ir.bluehatgroup.com\/\" style=\"\" rel=\"noopener\">Blue Hat<\/a> is planning to acquire 60% of Dubai-based trading platform <a target=\"_blank\" href=\"https:\/\/gtcmtd.com\/\" style=\"\" rel=\"noopener\">GTC Multi Trading<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/blue-hat-interactive-entertainment-technologies-announces-plan-to-acquire-gtc-multi-trading-dmcc-48b9f306?mod=Searchresults_pos4&amp;page=1\" style=\"\" rel=\"noopener\">press release<\/a>. Blue Hat will acquire the stake through multiple ordinary share issuances. The exact value of the transaction was not disclosed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">The acquisition will help Blue Hat explore AI-assisted trading of gold, other precious metals, and financial derivatives<\/strong><span style=\"background-color: transparent;\">, according to the statement. The acquisition is also expected to advance Blue Hat\u2019s AI-driven financial services.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cThe acquisition of GTCM marks the initial phase of our collaboration following the framework cooperation agreement with GTC Group. We remain committed to further exploring AI applications in the financial industry, propelling our services and products towards an AI-driven future,\u201d Blue Hat CEO Chen Xiaodong said. <\/p>\n<p class=\"tag-border-left\"> OTHER M&amp;A NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Palms Sports acquires 80% of Yas Physiotherapy Center:<\/strong> Abu Dhabi-based sports manager Palms Sports finalized the acquisition of an 80% stake in sports injury treatment and rehabilitation clinic Yas Physiotherapy Center for an undisclosed value, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1935.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The International Holding Company subsidiary purchased the Abu Dhabi-based clinic as part of its push to \u201cdiversify and expand its investments into new segments and verticals,\u201d according to the statement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This transaction marks Palms\u2019 second acquisition of the year,<\/strong> after it took over Learn Education and its portfolio of schools, Al Rabeeh School and Al Rabeeh Academy in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/1e9c1f9c-7161-4ee3-9c3b-261ef26184ff\/ghitha-holding-expands-with-two-cross-border-acquisitions#:~:text=%231%2D%20Palms%20Sports,in%20July%202023.\" style=\"\" rel=\"noopener\">February<\/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\/fintech\/\">fintech<\/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\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/trading\/\">trading<\/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=\"92360\" 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=\"92360\">\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\">KUDOS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/24\/mashreq-adib-each-snag-four-awards-at-euromoney-awards-while-fab-bags-best-bank-in-middle-east-award\/\">\r\n                            Mashreq, ADIB each snag four awards at Euromoney Awards, while FAB bags best bank in Middle East award                        <\/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\/24\/mashreq-adib-each-snag-four-awards-at-euromoney-awards-while-fab-bags-best-bank-in-middle-east-award\/\" 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\/24\/mashreq-adib-each-snag-four-awards-at-euromoney-awards-while-fab-bags-best-bank-in-middle-east-award\/')\">\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\/24\/mashreq-adib-each-snag-four-awards-at-euromoney-awards-while-fab-bags-best-bank-in-middle-east-award\/\">\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=Mashreq, ADIB each snag four awards at Euromoney Awards, while FAB bags best bank in Middle East award&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/24\/mashreq-adib-each-snag-four-awards-at-euromoney-awards-while-fab-bags-best-bank-in-middle-east-award\/\">\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\/24\/mashreq-adib-each-snag-four-awards-at-euromoney-awards-while-fab-bags-best-bank-in-middle-east-award\/&title=Mashreq, ADIB each snag four awards at Euromoney Awards, while FAB bags best bank in Middle East award\">\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=Mashreq%2C+ADIB+each+snag+four+awards+at+Euromoney+Awards%2C+while+FAB+bags+best+bank+in+Middle+East+award+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F24%2Fmashreq-adib-each-snag-four-awards-at-euromoney-awards-while-fab-bags-best-bank-in-middle-east-award%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\/24\/mashreq-adib-each-snag-four-awards-at-euromoney-awards-while-fab-bags-best-bank-in-middle-east-award\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2673.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92361\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/24\/mashreq-adib-each-snag-four-awards-at-euromoney-awards-while-fab-bags-best-bank-in-middle-east-award\/2673-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2673.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2673.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2673.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2673.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92360\" class=\"content-area-description single-story post-92360 post type-post status-publish format-standard has-post-thumbnail hentry category-kudos tag-mashreq 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\/.04612e5c-5778-438f-8d72-7581123d0185.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Our friends at Mashreq secured lots of hardware at the Euromoney Awards,&nbsp;<\/strong>including being labeled the Best Digital Bank in the Middle East region for the fifth consecutive year, according to a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/mashreq-uae_mashreq-riseeveryday-activity-7199333294604242945-h345?utm_source=share&amp;utm_medium=member_desktop\" style=\"\" rel=\"noopener\">statement<\/a>. Mashreq was also named best digital bank in the UAE, best bank for SMEs in Egypt, and best international bank in Bahrain.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Abu Dhabi Islamic Bank also received&nbsp;<\/strong><span style=\"background-color: transparent;\">the World's Best Islamic Bank for ESG, the Middle East's Best Islamic Bank, the UAE's Best Domestic Islamic Bank, and the UAE's Best Bank for Corporate Responsibility awards at the event.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Other awards worth noting:<\/strong><\/p>\n<ul>\n<li>The country\u2019s largest lender, <strong>First Abu Dhabi Bank<\/strong>, was named <strong>best bank<\/strong> in the Middle East; <\/li>\n<li><strong>Emirates NBD<\/strong> was named <strong>best bank for SMEs<\/strong>;<\/li>\n<li><strong>Emirates NBD Private Banking<\/strong> was named <strong>best bank for wealth management<\/strong>; <\/li>\n<\/ul>\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>Deloitte named 12 UAE-based companies among the 50 fastest-growing tech companies <\/strong><strong>in the MENA region<\/strong> on its <a target=\"_blank\" href=\"https:\/\/www2.deloitte.com\/xe\/en\/pages\/deloitte-private\/articles\/fast-50-3rd-edition-results.html\" style=\"\" rel=\"noopener\">Technology Fast 50 list<\/a>, which ranks startups in the region based on their annual revenue growth over the past four years.<\/p>\n<ul>\n<li>Storage and delivery services provider <strong><a target=\"_blank\" href=\"https:\/\/www.google.com\/aclk?sa=l&amp;ai=DChcSEwis3ezIhKWGAxUKgoMHHXnoANkYABAAGgJlZg&amp;ase=2&amp;gclid=Cj0KCQjw0ruyBhDuARIsANSZ3wrprneDuKZuQA6dWjGe49XhbtFho6KZgttci_dD6xv-7E86jaP-_5caAlDIEALw_wcB&amp;ei=1N9PZueyBKr2i-gP_YmE0Aw&amp;sig=AOD64_1pU-Flu7oKTjAqbYAWaeTQYiCmLQ&amp;q&amp;sqi=2&amp;nis=4&amp;adurl&amp;ved=2ahUKEwjn7ObIhKWGAxUq-wIHHf0EAcoQ0Qx6BAgJEAE\" style=\"\" rel=\"noopener\">Quiqup<\/a><\/strong> secured the 6th spot;<\/li>\n<li>Edtech platform <strong><a target=\"_blank\" href=\"https:\/\/www.almentor.net\/home\" style=\"\" rel=\"noopener\">Almentor<\/a><\/strong> ranked 9th;<\/li>\n<li>Vehicle appraisal software <strong><a target=\"_blank\" href=\"https:\/\/algodriven.xyz\/\" style=\"\" rel=\"noopener\">AlgoDriven<\/a><\/strong> secured 10th place;<\/li>\n<li>Marketplace <strong><a target=\"_blank\" href=\"https:\/\/www.google.com\/aclk?sa=l&amp;ai=DChcSEwiMrvblhKWGAxWrlYMHHWMnEVoYABAAGgJlZg&amp;ase=2&amp;gclid=Cj0KCQjw0ruyBhDuARIsANSZ3wpX_dbGUp1RFymAxL1HaGuhvEnKeHJ62exaZs9947bXNSBw_ohmxd0aAoauEALw_wcB&amp;ei=EeBPZob-Aof-7_UPtuyZwAw&amp;sig=AOD64_3a-zsIPGxnuMcyyPIUikWin8OU3Q&amp;q&amp;sqi=2&amp;nis=4&amp;adurl&amp;ved=2ahUKEwjGyvDlhKWGAxUH_7sIHTZ2BsgQ0Qx6BAgPEAE\" style=\"\" rel=\"noopener\">Justlife<\/a><\/strong> ranked as the 13th fastest-growing company. <\/li>\n<li>Call center software <strong><a target=\"_blank\" href=\"https:\/\/www.ziwo.io\/\" style=\"\" rel=\"noopener\">Ziwo<\/a><\/strong> secured the 18th spot;<\/li>\n<li>Prepaid product distribution network <strong><a target=\"_blank\" href=\"https:\/\/www.mintroute.com\/\" style=\"\" rel=\"noopener\">Mintroute<\/a><\/strong> came in 20th place;<\/li>\n<li>Business education firm <strong><a target=\"_blank\" href=\"https:\/\/www.allinners.com\/\" style=\"\" rel=\"noopener\">Allinners<\/a><\/strong> was named 24th fastest growing company;<\/li>\n<li><strong><a target=\"_blank\" href=\"https:\/\/www.propertyfinder.ae\/\" style=\"\" rel=\"noopener\">Property Finder<\/a><\/strong> secured 30th place;<\/li>\n<li>B2B fintech <strong><a target=\"_blank\" href=\"https:\/\/youcloudpay.com\/\" style=\"\" rel=\"noopener\">YouCloud Paytech<\/a><\/strong> snagged 33rd place;<\/li>\n<li>SaaS solutions provider <strong><a target=\"_blank\" href=\"https:\/\/gamechange.com\/\" style=\"\" rel=\"noopener\">GameChange<\/a><\/strong> ranked 34th;<\/li>\n<li>Logistics services provider <strong><a target=\"_blank\" href=\"https:\/\/jeebly.com\/\" style=\"\" rel=\"noopener\">Jeebly<\/a><\/strong> ranked 35th;<\/li>\n<li>Digital identity firm <strong><a target=\"_blank\" href=\"https:\/\/uqudo.com\/\" style=\"\" rel=\"noopener\">Uqudo<\/a><\/strong> came in 37th place.<\/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\/mashreq\/\">Mashreq<\/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=\"92362\" 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=\"92362\">\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\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/24\/sawaeed-holdings-has-a-new-ceo\/\">\r\n                            Sawaeed Holdings has a new CEO                        <\/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\/24\/sawaeed-holdings-has-a-new-ceo\/\" 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\/24\/sawaeed-holdings-has-a-new-ceo\/')\">\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\/24\/sawaeed-holdings-has-a-new-ceo\/\">\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=Sawaeed Holdings has a new CEO&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/24\/sawaeed-holdings-has-a-new-ceo\/\">\n                    X                    <!-- <img decoding=\"async\" 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<\/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\/24\/sawaeed-holdings-has-a-new-ceo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/212.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92363\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/24\/sawaeed-holdings-has-a-new-ceo\/212-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/212.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"212.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/212.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/212.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92362\" class=\"content-area-description single-story post-92362 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam-uae tag-moves tag-sawaeed-holdings 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\/.9d1124bd-db37-4bda-8814-2071526405a4.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sawaeed Holdings has a new CEO:<\/strong> The investment company has appointed Aiser Khalid Hussain Alhawi as its new CEO, following the resignation of Hamad Saleh Awad Qurban, an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1934.pdf\" style=\"\" rel=\"noopener\">ADX filing (pdf)<\/a> reads. <\/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\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/sawaeed-holdings\/\">Sawaeed Holdings<\/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=\"92364\" 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\" 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\r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92365\" 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=\"92365\">\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\">UAE IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/24\/al-marri-on-why-the-uae-has-the-makings-of-an-ai-hub\/\">\r\n                            Al Marri on why the UAE has the makings of an AI hub + Discovery Land\u2019s new ultra-exclusive desert development in Dubai                        <\/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\/24\/al-marri-on-why-the-uae-has-the-makings-of-an-ai-hub\/\" 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\/24\/al-marri-on-why-the-uae-has-the-makings-of-an-ai-hub\/')\">\n                    Copy Link  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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\/24\/al-marri-on-why-the-uae-has-the-makings-of-an-ai-hub\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1942.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92366\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/24\/al-marri-on-why-the-uae-has-the-makings-of-an-ai-hub\/1942-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1942.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1942.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1942.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1942.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92365\" class=\"content-area-description single-story post-92365 post type-post status-publish format-standard has-post-thumbnail hentry category-uae-in-the-news tag-ai tag-dubai tag-economy tag-enterpriseam-uae tag-real-estate 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\/.e676a33f-ecc1-415a-b2a3-3c4d18c5adf8.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Semafor\u2019s Liz Hoffman is out with a short <\/strong><strong>interview <\/strong><strong>with Economy Minister Abdulla bin<\/strong><strong> Touq Al Marri<\/strong> on his working visit to New York, where he is pitching Western investors the \u201copenness\u201d and \u201cstability\u201d of the UAE, as well as the attractiveness of its AI prospects. The key differentiating factor making the UAE an \u201cAI hub\u201d, according to Al Marri? Language. Read the full <a target=\"_blank\" href=\"https:\/\/www.semafor.com\/article\/05\/23\/2024\/uae-economy-minister-abdulla-bin-touq-al-marri-pitches-western-investors\" style=\"\" rel=\"noopener\">interview<\/a> here. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">ALSO- CNN is looking at US operator Discovery Land Company's launch of ultra-exclusive development in southern Dubai<\/strong><span style=\"background-color: transparent;\">, Discovery Dunes. The 600-acre development features 340 mansions, villas, and plots, with prices starting at USD 7.5 mn and going up to USD 50 mn. The catch? You need to get an invite to buy a house. (<\/span><a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/travel\/dubai-discovery-dunes-luxury-community-spc-intl\/index.html\" rel=\"noopener\">CNN<\/a><span style=\"background-color: transparent;\">)<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai\/\">Dubai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/economy\/\">Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/real-estate\/\">Real estate<\/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=\"92367\" 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=\"92367\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/24\/binghatti-is-launching-a-new-aed-3-bn-business-bay-project\/\">\r\n                            Binghatti is launching a new AED 3 bn Business Bay 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\/24\/binghatti-is-launching-a-new-aed-3-bn-business-bay-project\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2024\/05\/24\/binghatti-is-launching-a-new-aed-3-bn-business-bay-project\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/uae\/2024\/05\/24\/binghatti-is-launching-a-new-aed-3-bn-business-bay-project\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Binghatti is launching a new AED 3 bn Business Bay project&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/24\/binghatti-is-launching-a-new-aed-3-bn-business-bay-project\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/24\/binghatti-is-launching-a-new-aed-3-bn-business-bay-project\/&title=Binghatti is launching a new AED 3 bn Business Bay project\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Binghatti+is+launching+a+new+AED+3+bn+Business+Bay+project+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F24%2Fbinghatti-is-launching-a-new-aed-3-bn-business-bay-project%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/24\/binghatti-is-launching-a-new-aed-3-bn-business-bay-project\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2533.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92368\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/24\/binghatti-is-launching-a-new-aed-3-bn-business-bay-project\/2533-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2533.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2533.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2533.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2533.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92367\" class=\"content-area-description single-story post-92367 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-aviation tag-crypto tag-dhl tag-digitization tag-enterpriseam-uae tag-evs tag-healthcare tag-logistics tag-ma tag-manufacturing tag-real-estate tag-startups tag-tech 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\/.3a64d175-4efc-4fd9-9473-b1b0fceafcd8.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Binghatti launches new AED 3 bn development: <\/strong>Dubai-based property developer Binghatti has launched a new AED 3 bn ultra-luxury waterfront project in Business Bay, according to <a target=\"_blank\" href=\"https:\/\/www.cbnme.com\/news\/binghatti-launches-luxury-waterfront-project\/\" style=\"\" rel=\"noopener\">Construction Business News<\/a>. The project, dubbed One by Binghatti, will sit near Binghatti\u2019s portfolio of branded residences, including Bugatti Residences by Binghatti, Mercedes Benz Places by Binghatti, and Burj Binghatti Jacob &amp; Co Residences, with the reveal taking place next Monday, 27 May, at the Bvlgari Yacht Club in Jumeirah Beach.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wasl unveils luxury tower in Dubai:<\/strong> Real estate developer Wasl has revealed its latest luxury development in Dubai, dubbed One B Tower, a 48-storey tower overlooking the Dubai Water Canal in Business Bay, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b3aq6hi-wasl-launches-new-iconic-project-one-tower-sheikh\" style=\"\" rel=\"noopener\">Wam<\/a> reports. Slated for completion by 2Q 2028, the tower is set to be part of the One Bn Meals Endowment campaign.<\/p>\n<p class=\"tag-border-left\">STARTUPS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>India\u2019s BluSmart runs test drives in Dubai:<\/strong> Indian ride-hailing startup <a target=\"_blank\" href=\"https:\/\/blu-smart.com\/\" style=\"\" rel=\"noopener\">BluSmart<\/a> quietly kicked off its new Dubai service earlier this week, deploying 100 Audi E-Tron SUVs and 130 drivers in the emirate, <a target=\"_blank\" href=\"https:\/\/techcrunch.com\/2024\/05\/22\/indias-blusmart-is-testing-its-ride-hailing-service-in-dubai\/#:~:text=BluSmart%20co%2Dfounder%20Anmol%20Jaggi,with%20the%20matter%20told%20TechCrunch.\" style=\"\" rel=\"noopener\">TechCrunch<\/a> cites BluSmart co-founder Anmol Jaggi as saying. The company plans to formally launch operations in Dubai in June and expand in Abu Dhabi later this year, with plans to up its fleet size to 10k electric vehicles in 2024 from a current 7.3k.<\/p>\n<p class=\"tag-border-left\">LOGISTICS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DHL Express has inaugurated its Airport Gateway and Service Centre at Abu Dhabi\u2019s <\/strong><strong>Zayed International Airport (AUH),<\/strong> according to a <a target=\"_blank\" href=\"https:\/\/www.tradearabia.com\/news\/IND_422406.html\" style=\"\" rel=\"noopener\">press release<\/a>. The gateway and service center situated in the Future Cargo Area of AUH was built over a span of 15 years and at a USD 48.3 mn investment. The facility will serve as the primary warehouse for DHL\u2019s Middle East Road Network, facilitating bonded cross-dock truck operations connecting the UAE with the GCC and the Levant.<\/p>\n<p class=\"tag-border-left\">EVs-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Parkin + Dewa to increase EV green charger stations in Dubai: <\/strong>Dubai's state paid public parking provider, Parkin, inked an MoU with the Dubai Electricity and Water Authority (Dewa) to expand the number of electric vehicle (EV) green charger stations in the emirate, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1923.pdf\" style=\"\" rel=\"noopener\">DFM disclosure (pdf)<\/a>. The initiative will target prime locations managed by Parkin, and seeks to ramp up EV use in Dubai.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Al Ghurair Motors to be exclusive EV dealer for TAM-Europe: <\/strong>Dubai-based <a target=\"_blank\" href=\"https:\/\/www.al-ghurair.com\/en\/our-sectors\/ventures\/automotive-services\" style=\"\" rel=\"noopener\">Al Ghurair<\/a><a target=\"_blank\" href=\"https:\/\/www.al-ghurair.com\/en\/our-sectors\/ventures\/automotive-services\" style=\"\" rel=\"noopener\">Motors<\/a> has partnered with Slovenian manufacturer <a target=\"_blank\" href=\"https:\/\/www.tam-motors.eu\/\" style=\"\" rel=\"noopener\">TAM-Europe<\/a> to exclusively provide TAM-Europe's EVs to the UAE market, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/al-ghurair-motors-signs-dealership-agreement-with-european-manufacturer-tam-europe-for-electric-commercial-vehicles-gket146p\" style=\"\" rel=\"noopener\">press release<\/a>. The agreement was signed at the Electric Vehicle Innovation Summit in Abu Dhabi.<\/p>\n<p class=\"tag-border-left\">TECH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Swiss GRC sets up shop in Dubai, rolls out flagship software in Mena: <\/strong>Governance, Risk, and Compliance (GRC) solutions provider GRC Swiss opened a new office in Dubai Internet City as part of its strategic expansion plans, according to a <a target=\"_blank\" href=\"https:\/\/swissgrc.com\/en\/news\/swiss-grc-opens-dubai-office-to-support-company-growth-in-the-region\/\" style=\"\" rel=\"noopener\">press release<\/a>. The firm has also launched a localized Arabic version of its flagship software, the GRC Toolbox, to offer its services to the Mena market, <a target=\"_blank\" href=\"https:\/\/www.albayan.ae\/economy\/uae\/2024-05-22-1.4876730\" 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\"><strong>#2- G42 data analytics subsidiary Presight inked an MoU with Dell to expedite digital<\/strong><strong> transformation in the Middle East, <\/strong>the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1936.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The partnership will focus on developing private cloud solutions as well as prioritizing the development and deployment of sustainable data center solutions, which will integrate green tech with an eye to mitigate the environmental impact. <\/p>\n<p class=\"tag-border-left\">CRYPTO-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AGDM gives Klickl the greenlight: <\/strong>Abu Dhabi Global Market's Financial Services Regulatory Authority granted custody and payments platform <a target=\"_blank\" href=\"https:\/\/www.klickl.com\/\" style=\"\" rel=\"noopener\">Klickl<\/a> a financial services permit enabling the firm to broaden its services to include custody and brokerage for virtual assets, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3aq65q-adgm-grants-fsp-klickl-enhance-web30-offerings\" style=\"\" rel=\"noopener\">Wam<\/a> reports. <\/p>\n<p class=\"tag-border-left\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Zambian cable maker <\/strong><strong><a target=\"_blank\" href=\"https:\/\/neelkanth-africa.com\/product\/cables\/\" style=\"\" rel=\"noopener\">Neelkanth Cables<\/a><\/strong><strong> inaugurated its new AED 130 manufacturing facility <\/strong><strong>in Dubai Industrial City<\/strong>, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3aq6he-neelkanth-cables-targets-global-expansion-with-new\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The factory will manufacture low- and medium-voltage conductors and instrumentation cables, boasting an annual production capacity of 20k tonnes of copper and aluminum power cables. Aside from catering to local manufacturers, the facility will target exporting to various industries, including infrastructure, oil and gas, construction, cement, steel firms as well as power distribution companies across the GCC, South Asia, and Africa. <\/p>\n<p class=\"tag-border-left\">HEALTHCARE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi's agriculture and food safety authority has grown live cells from camel fetus<\/strong><strong> muscles in a lab<\/strong>, marking a scientific breakthrough, the authority <a target=\"_blank\" href=\"https:\/\/x.com\/ALWATAN_UAE\/status\/1793255473937809734\" style=\"\" rel=\"noopener\">said on X<\/a>. These cells will aid in diagnosing diseases in camels, developing proteins and vaccines, and enhancing our understanding of viral infections.<\/p>\n<p class=\"tag-border-left\">INS.-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai Ins. credit rating upgraded:<\/strong> Credit rating agency AM Best has upgraded Dubai Ins. financial strength rating to Aand its long-term issuer credit rating to \"a,\" both maintaining a stable outlook, a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1907.pdf\" style=\"\" rel=\"noopener\">DFM disclosure (pdf)<\/a> reads.<\/p>\n<p class=\"tag-border-left\">AVIATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emirates airlines and Latin American carrier Avianca inked a codeshare partnership<\/strong>, offering direct flights from Madrid, Barcelona, or London Heathrow to Bogot\u00e1, Medellin, and Cali in Colombia, the <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2024\/may\/23-05\/emirates-and-avianca-launch\" style=\"\" rel=\"noopener\">Dubai Media Office<\/a> writes.<\/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\/aviation\/\">Aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/crypto\/\">CRYPTO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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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=\"92369\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/24\/worlds-largest-active-asset-manager-joins-private-debt-craze\/\">\r\n                            World\u2019s largest active asset manager to venture into private 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 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       \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\/24\/worlds-largest-active-asset-manager-joins-private-debt-craze\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1938.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92370\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/24\/worlds-largest-active-asset-manager-joins-private-debt-craze\/1938-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1938.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1938.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1938.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1938.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92369\" class=\"content-area-description single-story post-92369 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-abu-dhabi-investment-authority tag-mubadala 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\/.40d72f65-3a26-4305-9419-6cf9ed4e5e06.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>US asset manager Capital Group is partnering with private equity giant KKR to <\/strong><strong>launch a series of hybrid funds<\/strong> blending public and private assets, in a move that marks the USD 2.5 tn manager\u2019s foray into the alternative investment sector, the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/finance\/investing\/american-funds-parent-launching-partnership-with-kkr-to-move-into-private-assets-114430d0\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> reports. The first two funds \u2014 to be launched next year \u2014 will comprise 60% public bonds selected by Capital and 40% private credit assets held by KKR, targeting \u201cmass-affluent investors,\u201d who hold assets ranging between USD 100k-1 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Private credit is all the rage: <\/strong><span style=\"background-color: transparent;\">With major players like Ares Management and Apollo Global Management expanding their portfolios with private debt investments, this interest in the USD 1.7 tn private credit industry has surged in recent years, prompting other investors and banks to ramp up their investments in private credit.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More investment powerhouses want to capitalize on the sector:<\/strong> Although talks to acquire Chicago-based private credit firm Monroe Capital last year had stalled, JPMorgan is looking to purchase another private credit firm to \u201cbolster its private capital business,\u201d <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-23\/jpmorgan-hunts-for-private-credit-firm-for-asset-management-arm\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing sources familiar with the matter. JP Morgan <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-19\/jpmorgan-nears-3-billion-for-private-debt-in-hunt-for-partners\" style=\"\" rel=\"noopener\">has earmarked<\/a> over USD 10 bn of its balance sheet to direct lending and is in the process of tapping asset managers to collaborate on private credit transactions<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The downside? The market is a bit too bullish:<\/strong> With dry powder \u2014 money earmarked for private credit funds which has not been deployed \u2014 currently at an all-time high, the private credit market is witnessing a \u201csupply-demand imbalance,\u201d as private credit funds are being met with lackluster demand from buyout firms, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-23\/private-credit-has-too-much-cash-and-not-enough-places-to-put-it\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. Additionally, lenders are pushing to offer \u201cone of the most aggressive financing terms ever seen in the market.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- The UAE has caught the private credit bug: <\/strong>In <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/42cb5948-afc5-4bb0-b1cf-4b5305d243ac\" style=\"\" rel=\"noopener\">February<\/a>, sovereign wealth fund Mubadala agreed with Goldman Sachs to co-invest USD 1 bn in private credit in the Asia-Pacific region. The wealth fund also took on the role of <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-22\/mubadala-to-anchor-private-credit-fund-for-european-property\" style=\"\" rel=\"noopener\">anchor investor<\/a> for a private credit fund set up by Starz Real Estate and targeting European property in November 2023 and had a tie-up with Alpha Dubai to set up a USD 2.5 bn JV to co-invest in global credit. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Abu Dhabi Investment Authority (Adia) also ventured into private credit in September<\/strong>, backing Wells Fargo\u2019s <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/finance\/centerbridge-teams-up-with-wells-fargo-launch-direct-lending-fund-2023-09-26\/\" style=\"\" rel=\"noopener\">USD 5 bn fund<\/a> and making a <a target=\"_blank\" href=\"https:\/\/globalswf.com\/news\/adia-continues-abu-dhabi-s-global-private-credit-push\" style=\"\" rel=\"noopener\">USD 932 mn investment<\/a> in Australian real estate private credit firm Qualitas Diversified Credit Investments. It also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f63d2de3-6c33-4583-b209-498f1de2767e\/adia-earmarks-usd-1-bn-for-barclays,-agl%253cmark%253e-private-credit%253c%2Fmark%253e-vehicle\" style=\"\" rel=\"noopener\">committed<\/a> USD 1 bn to Barclays and AGL Credit Management\u2019s new private credit fund in April, and agreed to boost its commitments to London-based alternative asset manager Cheyne Capital\u2019s capital solutions strategy to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/52c6f77d-af6f-4b4b-a6cc-2c73c8650cf6\/adia-boosts-investment-in%253cmark%253e-private-credit-%253c%2Fmark%253ewith-fresh-commitment-to-cheyne-capital\" style=\"\" rel=\"noopener\">GBP 650 mn<\/a>. <\/p>\n<p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asia-Pacific markets fell early Friday<\/strong>, tracking Wall Street declines on concerns around higher-for-longer rates, with the Nikkei down 1.25% and the Kospi 1.05% lower. Wall Street futures are little changed from yesterday.<\/p>\n<p><a target=\"_blank\" id=\"t.d874b2c5c6cc98729e393b5008c5b4868c246d07\" 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\">8,889<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.9% (YTD: -7.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,023<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.8% (YTD: -0.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">3,427<\/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\">-1.8% (YTD: -10.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : AED<\/strong><strong> CBUAE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 3.67<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 3.67<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EIBOR<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.0% o\/n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.3% 1 yr<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,995<\/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\">-1.3% (YTD: +0.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">27,205<\/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: +9.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,267<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7% (YTD: +10.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,339<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: +7.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,037<\/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: +11.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 81.33<\/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\">-0.04%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.64<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,353.1<\/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\">-0.28%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 67,671.59<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.36% (YTD: +75.5%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The DFM fell 0.8% yesterday<\/strong> on turnover of AED 349.1 mn. The index is down 0.9% 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>National International Holding Company (+14.8%), Al Salam Bank (+2.4%) and du (Emirates Integrated Telecommunications Company) (+1.9%).<\/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 National Ins. &amp; Reins. (-10.0%), International Financial Advisors (-9.8%) and Al Salam Sudan (-6.6%). <\/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 closed down 0.9% on turnover of AED 1.2 bn. Meanwhile, Nasdaq Dubai fell 1.8%. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi-investment-authority\/\">Abu Dhabi Investment Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/mubadala\/\">Mubadala<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/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=\"92371\" 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=\"92371\">\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\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/24\/uae-to-invest-usd-10-bn-in-pakistan\/\">\r\n                            UAE pledges USD 10 bn for investments in Pakistan                        <\/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\/24\/uae-to-invest-usd-10-bn-in-pakistan\/\" 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 statement did not specify the potential projects or sectors the USD 10 bn will go towards. This came following a meeting between President Mohamed bin Zayed Al Nahyan and Pakistan\u2019s Prime Minister Muhammad Shehbaz Sharif during Sharif\u2019s visit to Abu Dhabi to explore potential investment and cooperation in economy, trade, and development, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3aq6kb-uae-president-prime-minister-pakistan-discuss\" style=\"\" rel=\"noopener\">Wam<\/a> reported. The PM <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3aq68r-prime-minister-pakistan-arrives-uae-received\" style=\"\" rel=\"noopener\">met with<\/a> Vice President Sheikh Mansour bin Zayed Al Nahyan in Abu Dhabi earlier in the day.<\/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>UAE-US cooperation to protect IP rights: <\/strong>The UAE and the US inked an MoU to ramp up cooperation in protecting intellectual property (IP) rights, focusing on exploring innovative activities and developing new IP policies, systems, and protection, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/ar\/article\/b3a4jfl-%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D9%88%D8%A3%D9%85%D8%B1%D9%8A%D9%83%D8%A7-%D8%AA%D9%88%D9%82%D8%B9%D8%A7%D9%86-%D9%85%D8%B0%D9%83%D8%B1%D8%A9-%D8%AA%D9%81%D8%A7%D9%87%D9%85-%D9%84%D8%AA%D8%B9%D8%B2%D9%8A%D8%B2-%D8%A7%D9%84%D8%AA%D8%B9%D8%A7%D9%88%D9%86\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The agreement includes a five-year cooperation program allowing US inventors and innovators with US patents to obtain patents in the UAE, provided they meet the necessary standards.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- The UAE has been doubling down on IP protection:<\/strong> Earlier in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/242ca975-1875-4c2f-9d25-32c6c7e61d98\/gov%25e2%2580%2599t-launches-a-new-intellectual-property-framework\" style=\"\" rel=\"noopener\">February<\/a>, the Economy Ministry rolled out an integrated IP framework comprising 11 separate initiatives, including a \u201cpatent hive\u201d to issue 6k patents by 2026.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Economy Minister Abdullah bin Touq Al Marri met with New York City Mayor Eric<\/strong><strong> Adams to discuss promoting bilateral economic cooperation<\/strong> in fintech, clean energy, green economy, entrepreneurship, tourism, transportation, and circular economy, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b3aq6bo-bin-touq-meets-with-new-york-city-mayor-explore\" style=\"\" rel=\"noopener\">Wam<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- UAE opens new embassy in Latvia: <\/strong>State Minister Ahmed bin Ali Al Sayegh participated yesterday in the inauguration of the UAE\u2019s new embassy in Latvia\u2019s Riga, located in a historic building on Unesco\u2019s cultural heritage list, according to <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3aq6n7-ministers-state-attend-opening-new-uae-embassy\" style=\"\" rel=\"noopener\">Wam<\/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\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/pakistan\/\">Pakistan<\/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=\"92373\" 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\/24\/92373-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92373\" class=\"content-area-description single-story post-92373 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>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>, 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":"","protected":false},"featured_media":92346,"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-92345","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"5dda19ac-ae05-43c1-b29f-b1f4e00968d8","teaser":"","photo_url":"https:\/\/ent.news\/2024\/5\/1938.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Adnoc Drilling 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