{"id":92394,"date":"2024-05-27T00:00:00","date_gmt":"2024-05-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=92394"},"modified":"2025-12-15T00:27:03","modified_gmt":"2025-12-15T00:27:03","slug":"sidara-gets-another-rejection-from-wood-group","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/sidara-gets-another-rejection-from-wood-group\/","title":{"rendered":"Sidara gets another rejection from Wood Group"},"content":{"rendered":"<section id=\"92396\" 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=\"92396\">\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\/27\/ihc-is-planning-to-list-daman-ins-on-the-public-market\/\">\r\n                            THIS MORNING: IHC eyes Daman IPO + UAE to hit oil capacity targets by 2025 or early 2026                        <\/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\/27\/ihc-is-planning-to-list-daman-ins-on-the-public-market\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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We also have news of <strong>Adnoc <\/strong>eyeing an<strong> acquisition <\/strong>of<strong> Shell\u2019s South African assets<\/strong>, and an interesting read on <strong>high net worth individuals\u2019<\/strong> interest in <strong>Dubai properties<\/strong> \u2014 which will see them pour some USD 4.4 bn <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- We\u2019re breaking the 40<\/strong><strong>\u00b0C<\/strong><strong> mark today in both Dubai and Abu Dhabi.<\/strong> The mercury will hit 42\u00b0C in Dubai, with an overnight low of 29\u00b0C, while Abu Dhabi temperatures will reach 41\u00b0C, with a low of 28\u00b0C.<\/p>\n<p class=\"tag-border-left\">SPORTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Ain are Asian champions: <\/strong>Al Ain beat Yokohama Marinos 5-1 on Saturday to become Asian champions for the second time ever, after clinching the trophy in 2003. The team overturned its 2-1 loss in the first leg of the game in Japan with a brace each from Soufiane Rahimi and substitute Kodjo Laba, as well as a penalty from Kaku. The team now <a target=\"_blank\" href=\"https:\/\/www.fifa.com\/fifaplus\/en\/tournaments\/mens\/mundial-de-clubes\/usa-2025\/articles\/al-ain-qualify-club-world-cup\" style=\"\" rel=\"noopener\">qualifies<\/a> for the inaugural Fifa Club World Cup 2025. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u2026and Al Wasl complete the double: <\/strong>Al Wasl clinched the UAE Pro League trophy after its 3-0 victory over Shabab Al Ahli yesterday, giving them a nine-point advantage with only two matches remaining. This was the eighth Pro League title for Al Wasl, and follows their President\u2019s Cup victory over Al Ain last week, giving them <\/p>\n<p class=\"tag-border-left\">PSA-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The Dubai Airports Freezone\u2019s Smart Police Station is temporarily closed<\/strong>, Dubai Police said in an <a target=\"_blank\" href=\"https:\/\/twitter.com\/DubaiPoliceHQ\/status\/1794358458872996135\" style=\"\" rel=\"noopener\">X post<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- UAEPass is secure:<\/strong> The Telecommunications and Digital Government Regulatory Authority dismissed rumors circulating on social media regarding alleged fraud using the UAEPass, <a target=\"_blank\" href=\"https:\/\/twitter.com\/tdrauae\/status\/1794252678417051908?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1794252678417051908%7Ctwgr%5Ed2c367d7500526cbdae62083d5853c40e04cd7b5%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fgulfnews.com%2Fuae%2Ftelecommunications-authority-squashes-rumours-of-uaepass-fraud-1.102802707\" style=\"\" rel=\"noopener\">reassuring users<\/a> of the app\u2019s safety. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The Abu Dhabi Agriculture and Food Safety Authority has warned against&nbsp;<\/strong><strong>crypto mining<\/strong><strong> on agricultural land<\/strong>, warning farmers that they will face a AED 10k fine if they allow the mining activities on their farms in a Facebook <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/adafsa.gov\/posts\/pfbid021Ffm5PGvRo9dEmmB5Km5Hdi8ZNwzPsRfpsop63F3dAM1TDCg1Mf6F52ibgPfi9ePl\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Uh, Enterprise, what\u2019s crypto mining?<\/strong> In the crypto world, mining refers to an energy-intensive process that verifies transactions and generates new coins using advanced computer systems.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- The Federal Tax Authority (FTA) is out with a new guide on corporate tax for <\/strong><strong>freezone persons,<\/strong> it said on <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/federal-tax-authority_post-activity-7198916486252400640-buG0\/?utm_source=share&amp;utm_medium=member_desktop\" style=\"\" rel=\"noopener\">LinkedIn<\/a>. The guide includes information on how freezone businesses and persons can benefit from the freezone corporate tax regime, which allows qualifying freezone persons to claim a 0% corporate tax rate on their qualifying income, as opposed to the standard 9% corporate tax rate. You can find the full guide <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2122.pdf\" style=\"\" rel=\"noopener\">here (pdf)<\/a>. <\/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>#1- IHC eyes another ADX listing:<\/strong> Investment giant International Holding Company (<a target=\"_blank\" href=\"https:\/\/www.ihcuae.com\/\" style=\"\" rel=\"noopener\">IHC<\/a>) plans to list Daman Ins., a unit of its subsidiary PureHealth, on the public market, IHC CEO Syed Basar Shueb tells <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-24\/abu-dhabi-s-ihc-eyes-buyback-as-stock-cools-after-43-000-jump\" style=\"\" rel=\"noopener\">Bloomberg<\/a>, without disclosing the size or timing of the IPO. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The move comes as the firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f45c9dc2-e435-498e-a503-03cef4ce6dac\/ihc-reports-bottom-line-growth-in-1q-2024,-plans-aed-5-bn%253cmark%253e-share-buyback%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">plans to buy back<\/a><\/strong><strong> up to AED 5 bn of its shares <\/strong><strong>to boost its <\/strong><strong>share price<\/strong> and reward shareholders, \u201cwho have probably not seen the share price growth in the past year,\u201d Shueb said. The firm\u2019s stock has \u201ctraded in a tight range for nearly two years,\u201d according to Bloomberg data. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- There are more IHC IPOs in the pipeline: <\/strong>Shueb told Bloomberg in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/482e41b3-3619-4bbd-95ac-21dfbd9c9c4d\/\" style=\"\" rel=\"noopener\">March<\/a> the company plans to list its recently established subsidiary <a target=\"_blank\" href=\"https:\/\/www.2pointzero.com\/\" style=\"\" rel=\"noopener\">2PointZero<\/a> \u2014 which holds some AED 100 bn (USD 27 bn) of assets \u2014 on the ADX sometime next year. The firm is also planning to debut two more holdings \u2014 International Technology Holding (ITH) and Sirius International Holding \u2014 on the ADX, with the company prioritizing internal business growth over pursuing new sectors, Shueb told Bloomberg. ITH will hit the bourse this year, while Sirius and 2PointZero will likely go live in 2025.<\/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- Ewec opens registration for 2Q 2024 CEC auction:<\/strong> Emirates Water and Electricity Company (Ewec) opened the registration period for its <a target=\"_blank\" href=\"https:\/\/www.ewec.ae\/en\/CleanEnergyCertificates\" style=\"\" rel=\"noopener\">2Q 2024 clean energy certificates (CEC)<\/a> on Thursday, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/fr\/article\/b3aq5zx-ewec-conducts-2024-clean-energy-certificates\" style=\"\" rel=\"noopener\">Wam<\/a> writes. The auction will take place on 14 June. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> CECs are <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/1d6f5679-7823-4316-b766-97b93598487a\/ad-ports-seems-to-be-eyeing-up-asia-%2B-agthia-group-lands-solar-plant-contract-from-yellow-door\" style=\"\" rel=\"noopener\">the only accredited instruments<\/a> in Abu Dhabi that prove the ownership of environmental and economic benefits of consuming clean energy. The certificates were introduced by the Abu Dhabi Department of Energy to help ensure that the emirate meets its clean energy and net zero goals.<\/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- Deutsche Bahn narrows bidders for DB Schenker to four:<\/strong> German Deutsche Bahn has shortlisted four bidders vying for its logistics subsidiary, DB Schenker, with the shortlisted companies including a financial investor, a strategic investor, a European investor and one from the Middle East, sources told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/deutsche-bahn-narrows-list-bidders-schenker-four-source-says-2024-05-24\/\" style=\"\" rel=\"noopener\">Reuters<\/a>, without being specific. One or more of the bids exceed the EUR 15 bn mark, the sources said, with other bids ranging between EUR 13-14 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong>Abu Dhabi Investment Authority (Adia) <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/b621c113-0d36-4013-b351-34113ee59471\/adia-and-cvc-mull-another-bid-for-hargreaves-lansdown,-after-the-first-was-rejected\" style=\"\" rel=\"noopener\">has<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/b621c113-0d36-4013-b351-34113ee59471\/adia-and-cvc-mull-another-bid-for-hargreaves-lansdown,-after-the-first-was-rejected\" style=\"\" rel=\"noopener\">reportedly been tapped<\/a> by global investment manager CVC to join its consortium to bid for the company. It is also in talks with Singapore's GIC.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Deutsche Bahn is expected to make a decision by the end of the year<\/strong>, with the transaction expected to close sometime next year, the sources added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- Adia is not the only Middle East bidder, <\/strong>with the Abu Dhabi sovereign wealth fund <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f8d90282-5599-4964-abab-917116b95ef6\/this-morning:-adnoc-is-taking-over-oci%25e2%2580%2599s-stake-in-fertiglobe-%2B-adq-has-its-eyes-on-db%253cmark%253e-schenker%253c%2Fmark%253e#:~:text=WATCH%20THIS%20SPACE,10%2D20%20bn.\" style=\"\" rel=\"noopener\">ADQ<\/a> and Saudi shipping firm Bahri also expressing interest in acquiring DB Schenker. Deutsche Bahn had <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/1fab61ce-ffd6-4d5e-b06b-dcb6ec16efa0\/dhl-macroeconomic-outlook-for-2024-is-bleak-%2B-hd-hyundai-sets-up-maritime-nuclear-energy-watchdog\" style=\"\" rel=\"noopener\">kicked off the sales process<\/a> for its logistics subsidiary late last year. Deutsche Bahn\u2019s offloading of DB Schenker is expected to generate between EUR 12 bn to EUR 15 bn, which the railway operator will apply towards paying down its EUR 30 bn debt and doubling down on its core railway operations. <\/p>\n<p class=\"tag-border-left\">HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The Central Bank of the UAE (CBUAE) will auction four m-bills worth up to AED 15 bn <\/strong><strong>today<\/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<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The Abu Dhabi Energy Center will play host to the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/moiat.gov.ae\/en\/make-it-in-emirates-forum\" style=\"\" rel=\"noopener\">Make it in the Emirates Forum<\/a>&nbsp;<\/strong><strong>today<\/strong><strong> and tomorrow.<\/strong> The forum, which is organized by the Industry and Advanced Technology Ministry, brings together local and international decision-makers, government officials, private companies, investors, and financing institutions to support industrial growth and investment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/mecollabevents.com\/middle-east-investors-summit-may-2024\/\" style=\"\" rel=\"noopener\">Middle East Investors Summit<\/a><\/strong><strong> also gets underway today at Abu Dhabi\u2019s Rosewood<\/strong><strong> Hotel<\/strong> in Al Maryah Island. The summit, which wraps up tomorrow, will focus on potential investment in the emerging tech digital assets and crypto, sports, and entertainment sectors, with one of the key themes being the GCC\u2019s region growing influence as a business hub.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- <\/strong><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/dpc.org.ae\/AMF\/Home\" style=\"\" rel=\"noopener\">Arab Media Summit<\/a><\/strong><strong> kicks off today and will run until Wednesday, 29 May&nbsp;<\/strong>at the Dubai World Trade Center. Organized by the Dubai Press Club, the three-day summit features the Arab Youth Media Forum and the Arab Media Forum from today through Wednesday, as well as the Arab Media Award ceremony tomorrow and the Arab Social Media Influencers Award ceremony on Wednesday. The events will collectively gather over 4k participants, 250 speakers, and 200 media figures, according to the <a target=\"_blank\" href=\"https:\/\/mediaoffice.ae\/en\/news\/2024\/may\/22-05\/dubai-press-club-announces-the-arab-media-summit\" style=\"\" rel=\"noopener\">Dubai Media Office<\/a>. <\/p>\n<p class=\"tag-border-left\">HAPPENING THIS WEEK- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt2\"><\/a> <strong>#1- President Sheikh Mohamed bin Zayed Al Nahyan will head to South Korea on a <\/strong><strong>two-day visit tomorrow<\/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 President will head to China next on Thursday, 30 May,<\/strong> at the invitation of Chinese President Xi Jinping, to ring in the 40th anniversary of diplomatic relations between the UAE and China, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3bbllw-uae-president-begin-state-visit-china-may\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The visit seeks to build on the countries\u2019 existing strategic partnership, with the state leaders set to discuss furthering economic, developmental, and cultural cooperation to promote sustainable development and economic growth across both countries. President Al Nahyan will also attend the latest Ministerial Conference of the China-Arab States Cooperation Forum during his visit.<\/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 today for talks. Look for the war in Gaza and the post-war order there to take center stage: The Arab FMs were in Paris over the weekend, where they stressed the urgency of a ceasefire in Gaza during a meeting with French President Emmanuel Macron.<\/p>\n<p class=\"tag-border-left\">DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Over 100k Emiratis are currently employed in the private sector, <\/strong>with 70k having joined the workforce over the past two and a half years, Prime Minister Sheikh Mohammed bin Rashid Al Maktoum said in a <a target=\"_blank\" href=\"https:\/\/x.com\/HHShkMohd\/status\/1794633024228802981\" style=\"\" rel=\"noopener\">statement<\/a> on X, noting that the record Emiratisation rate was achieved following the launch of the AED 24 bn <a target=\"_blank\" href=\"https:\/\/nafis.gov.ae\/\" style=\"\" rel=\"noopener\">Nafis<\/a> program.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Digital trade is set to grow at a 12.3% clip over the next four years,<\/strong> with over 40% of UAE consumers already utilizing buy now, pay later and fintech services for online purchases, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3cih4f-123-growth-uaes-digital-trade-between-2023-2028\" style=\"\" rel=\"noopener\">Wam<\/a> reports, citing a research paper by the Economy Ministry and the Abu Dhabi Chamber of Commerce and Industry. Some 47% of UAE-based consumers opt to pay for their digital purchases using credit cards, according to the paper, surpassing the 18% global average. <\/p>\n<p class=\"tag-border-left\">MARKET WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt3\"><\/a> <strong>The UAE could reach its oil capacity target sooner than its initial 2027 goal: <\/strong>The UAE is on track to hit its 5 mn barrels per day (bbl \/ d) oil capacity target by the end of 2025 or early 2026, ahead of the original 2027 goal set by the Abu Dhabi National Oil Company (Adnoc), <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-24\/uae-set-to-hit-oil-capacity-target-year-earlier-than-it-forecast\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing people with knowledge of the operations. Abu Dhabi currently produces about two-thirds of its capability, and has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/a04e5b81-cda7-4dc0-b018-569a5a0c8b08\/\" style=\"\" rel=\"noopener\">reportedly been hoping<\/a> to use up its spare capacity. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Adnoc has ramped up drilling operations recently, <\/strong>drilling new wells in oil fields and connecting production sites to existing processing stations to squeeze out more deposits, the sources said. The oil giant raised its crude oil production capacity to 4.85 mn bbl \/ d from 4.65 mn bbl \/ d <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/9723908b-fa80-4e47-8373-98b38fea0829\/adia-will-buy-1-mn-shares-in-saudi-fakeeh-care%25e2%2580%2599s-ipo-%2B-dubai-saw-5k-new-residential-units-added-in-1q-2024\" style=\"\" rel=\"noopener\">earlier this month<\/a>. It recently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/82dbe67f-ea01-4893-8f5d-9618a840108e\/ras-al-sadr-is-back-online\" style=\"\" rel=\"noopener\">announced<\/a> resumed operations at its Ras Al Sadr field in Abu Dhabi, while Adnoc Drilling has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/8b537867-3b34-4807-ae3b-b248cdbf8b39\/%253cmark%253eadnoc%253c%2Fmark%253e-drilling-sets-up-jv-after-bagging-usd-1.7-bn-contract-%2B-reports-1q-2024-earnings\" style=\"\" rel=\"noopener\">set up a JV<\/a> to unlock \u201cunconventional\u201d energy resources in the emirate. Adnoc Gas also earmarked <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/bf7bd619-f88a-4b27-a210-0c319a28d66f\/%253cmark%253eadnoc%253c%2Fmark%253e-gas-earmarks-usd-13-bn-for-local-%2B-int%25e2%2580%2599l-expansion\" style=\"\" rel=\"noopener\">USD 13 bn<\/a> over the next five years to expand in domestic and international markets, with plans to double its LNG production capacity by 2028.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Pundits weigh in: <\/strong>\u201cThe UAE is not doing this to generate spare capacity, they\u2019re investing to produce this stuff,\u201d Ben Cahill, a senior fellow in the Center for Strategic and International Studies said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Increased capacity could be a point of contention as OPEC eyes extension of cuts through 2H 2024<\/strong>, Bloomberg reports. The OPEC+ alliance meeting, originally planned for Vienna on 3 June, was rescheduled to be held online a day later, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-23\/latest-oil-market-news-and-analysis-for-may-24\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. It is widely expected that the meeting will lead to the extension of output reductions into late 2024 to stabilize the market and increase prices, analysts told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-02\/oil-watchers-expect-opec-to-extend-supply-cuts-into-second-half\" style=\"\" rel=\"noopener\">Bloomberg<\/a> separately. The decision to hold the meeting online reinforces the expectation of continued cuts, according to Viktor Katona, head crude analyst at market intelligence firm Kpler. <\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p class=\"tag-border-left\">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 reasonably quiet morning in the global business press<\/strong>, as is often the case on Mondays \u2014 and even more so when it\u2019s a long weekend: Markets are closed today in both the United States (Memorial Day) and the UK (spring bank holiday). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hamas fired rockets at Tel Aviv yesterday for the first time since January<\/strong> in what defense analysts are saying is a demonstration of resilience, the <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/israel-palestinians-hamas-war-news-05-26-2024-eb25eb70d2c7b9e6bcd0497060eccbca\" style=\"\" rel=\"noopener\">Associated Press<\/a> reports. Eight rockets were launched from Rafah and several were intercepted, the Israeli military said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Israel, in turn, killed dozens<\/strong> in <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/more-aid-trucks-expected-roll-into-gaza-2024-05-26\/\" style=\"\" rel=\"noopener\">airstrikes<\/a> on Rafah hours after Hamas\u2019 attacks. At least 35 people were killed and dozens injured. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Negotiations due to resume in Cairo tomorrow: <\/strong>Another round of ceasefire and hostage swap negotiations is due to kick off in Cairo tomorrow, <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/middleeast\/live-news\/israel-hamas-war-gaza-news-05-26-24#h_be67fff0755ea4c2619ceafcaa788a8d\" style=\"\" rel=\"noopener\">CNN<\/a> and <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/mediated-israel-hamas-talks-hostage-deal-expected-next-week-source-says-2024-05-25\/\" style=\"\" rel=\"noopener\">Reuters<\/a> report, citing unnamed officials. Egyptian and Qatari mediators will lead the talks with US involvement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aid delivery resumes:<\/strong> Some 200 aid trucks and four fuel trucks departed from Egypt to enter Gaza through the Kerem Shalom crossing yesterday, bypassing the Rafah crossing that has been closed for several weeks, <a target=\"_blank\" href=\"https:\/\/alqaheranews.net\/news\/81632\/-%D8%B4%D8%A7%D8%AD%D9%86%D8%A9-%D8%AA%D9%86%D8%B7%D9%84%D9%82-%D9%85%D9%86-%D9%85%D8%B9%D8%A8%D8%B1-%D8%B1%D9%81%D8%AD-%D8%A5%D9%84%D9%89-%D9%83%D8%B1%D9%85-%D8%A3%D8%A8%D9%88-%D8%B3%D8%A7%D9%84%D9%85-%D8%AA%D9%85%D9%87%D9%8A%D8%AF%D8%A7-%D9%84%D8%AF%D8%AE%D9%88%D9%84-%D8%BA%D8%B2%D8%A9\" style=\"\" rel=\"noopener\">Al Qahera News<\/a> reports. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A bad morning for nervous flyers: <\/strong>The press is picking up on the idea that significant in-flight turbulence is becoming more common thanks to global warming after a dozen people were injured yesterday on a Qatar Airways flight that ran into turbulence over Turkey. The incident came just days after dozens were hurt in a similar Singapore Airlines incident. <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-26\/qatar-airways-jet-encounters-severe-turbulence-leaving-12-hurt\" style=\"\" rel=\"noopener\">The story<\/a> is all over front pages this morning.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Signs of the times: Hedge fund managers are blaming slow fundraising on the slow pace <\/strong><strong>of exits by their counterparts in private equity.<\/strong> Both rely on pension plans, foundations, and endowments for assets under management, but with PE exits slowing, limited partners have less cash to put into hedge funds and other asset classes, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/62b1db7b-3e78-47ca-865e-02cc404915f0\" style=\"\" rel=\"noopener\">Financial Times<\/a> writes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Keep an eye on: <\/strong>Closing arguments in <strong>Donald Trump\u2019s hush-money trial<\/strong>, which begin on Tuesday, and <strong>parliamentary elections in South Africa<\/strong>, which start on Wednesday. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ipo-watch\/\">IPO WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE 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  <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/27\/wood-group-rejects-another-takeover-bid-from-sidara\/\">\r\n                            Wood Group rejects another takeover bid from Sidara                        <\/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\/27\/wood-group-rejects-another-takeover-bid-from-sidara\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            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data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/27\/wood-group-rejects-another-takeover-bid-from-sidara\/839-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/839.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"839.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/839.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/839.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92399\" class=\"content-area-description single-story post-92399 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-enterpriseam-uae tag-ma-watch tag-sidara 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\/.4b73174e-06c2-4b67-9407-4ae25e6c7ded.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;\">Wood Group turns down another takeover bid by Sidara: <\/strong><span style=\"background-color: transparent;\">British oil services and engineering firm Wood Group has rejected a higher acquisition bid from Dubai's <\/span><a target=\"_blank\" href=\"https:\/\/sidaracollaborative.com\/\" rel=\"noopener\">Sidara<\/a><span style=\"background-color: transparent;\">, according to a <\/span><a target=\"_blank\" href=\"https:\/\/www.londonstockexchange.com\/news-article\/WG.\/further-statement-re-possible-offer\/16486368\" rel=\"noopener\">bourse disclosure<\/a><span style=\"background-color: transparent;\"> on Friday. This is Sidara's third bid for the British company.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Sidara had submitted a preliminary offer on <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/b6c21e45-3bb1-4127-9cd0-048ca91763c0\/%253cmark%253ewood-group%253c%2Fmark%253e-rejects-sidara%25e2%2580%2599s-gbp-1.4-bn-takeover-bid\" style=\"\" rel=\"noopener\">8 May<\/a> to buy the consultancy firm at GBP 2.05 per share, which was rejected by Wood\u2019s board, which said that it \u201cfundamentally undervaluing Wood and its future prospects.\u201d The company later submitted a revised bid of GBP 2.12 per share on <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/74003d2b-f120-4c1c-8b83-49b282ddaf4e\/wood-group-rejects-higher-takeover-bid-from%253cmark%253e-sidara%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">14 May<\/a>, marking a 3.4% upward revision from its previous bid, and valuing the company at GBP 1.47 bn. Despite the increase, Wood Group's board unanimously felt that the offer still undervalued the company.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The new bid: <\/strong>Sidara\u2019s revised bid offered to buy the consultancy firm at GBP 2.20 per share, marking a 3.8% upwards revision from its previous bid and 7.3% from its first. Wood\u2019s board unanimously rejected the offer, on the grounds that it continued to \u201csignificantly undervalue\u201d the group.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sidara still has a chance:<\/strong> Sidara has until 5 June to submit another offer or withdraw its bid.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Wood is in a tight spot: <\/strong>Last month, shareholder Sparta Capital Management urged Wood to consider listing in the US or selling the company after negotiations with buyout group Apollo to buy the company fell through. Apollo\u2019s bid \u2014 which it withdrew last month \u2014 had valued the company at GBP 1.66 bn at the time. Wood\u2019s shares had fallen about 25% over the past year, Bloomberg reports, giving it a market value of GBP 1.1 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reax: <\/strong>Wood\u2019s shares closed up 5.2% at GBP 1.89 on Friday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisers: <\/strong>JPMorgan Chase and Morgan Stanley serve as joint financial advisers and corporate brokers to Wood.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/sidara\/\">Sidara<\/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=\"92401\" 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=\"92401\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/27\/adnoc-mulls-bid-for-shells-downstream-assets-in-south-africa\/\">\r\n                            Adnoc mulls bid for Shell\u2019s downstream assets in South Africa                        <\/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\/27\/adnoc-mulls-bid-for-shells-downstream-assets-in-south-africa\/\" 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\/27\/adnoc-mulls-bid-for-shells-downstream-assets-in-south-africa\/')\">\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\/27\/adnoc-mulls-bid-for-shells-downstream-assets-in-south-africa\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Adnoc mulls bid for Shell\u2019s downstream assets in South Africa&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/27\/adnoc-mulls-bid-for-shells-downstream-assets-in-south-africa\/\">\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\/27\/adnoc-mulls-bid-for-shells-downstream-assets-in-south-africa\/&title=Adnoc mulls bid for Shell\u2019s downstream assets in South Africa\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Adnoc+mulls+bid+for+Shell%E2%80%99s+downstream+assets+in+South+Africa+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F27%2Fadnoc-mulls-bid-for-shells-downstream-assets-in-south-africa%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\/27\/adnoc-mulls-bid-for-shells-downstream-assets-in-south-africa\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2072.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92402\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/27\/adnoc-mulls-bid-for-shells-downstream-assets-in-south-africa\/2072-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2072.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2072.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2072.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2072.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92401\" class=\"content-area-description single-story post-92401 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-adnoc tag-energy tag-enterpriseam-uae tag-lng tag-ma-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.b6747876-15e0-48c5-83b8-9954e3568ea4.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Abu Dhabi National Oil Company (Adnoc) is reportedly eyeing Shell\u2019s <\/strong><strong>downstream assets in South Africa,&nbsp;<\/strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-24\/adnoc-aramco-said-to-mull-bids-for-shell-south-africa-assets?utm_source=google&amp;utm_medium=bd&amp;cmpId=google\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing unnamed sources familiar with the matter. The potential sale, which could be priced at USD 800 mn, would be the latest step in Shell\u2019s ongoing divestment from South Africa, following the sale of the country\u2019s largest oil refinery in 2022. Talks are ongoing with \u201cseveral highly credible parties,\u201d Bloomberg quotes Shell\u2019s spokesperson as saying.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">What\u2019s on the table:<\/strong><span style=\"background-color: transparent;\"> The sale would include the company\u2019s aviation, marine, construction and road, trading and supply, commercial fuels, and lubricant operations, Shell had <\/span><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/shell-exit-south-africas-downstream-businesses-2024-05-06\/\" rel=\"noopener\">confirmed<\/a><span style=\"background-color: transparent;\"> earlier this month. Shell owns a network of 600 stations across the country.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Other potential bidders reportedly include Saudi Aramco, <\/strong>South Africa\u2019s chemicals and energy player Sasol, Switzerland-based Puma Energy, and Swiss company Glencore.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- The oil giant has been making acquisitions to expand its LNG business and diversify operations. <\/strong>Adnoc made its first investment in the US <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f156b800-1f4b-4254-95c4-d8598329988e\/%253cmark%253eadnoc%253c%2Fmark%253e-acquires-11.7%2525-stake-in-nextdecade'\" style=\"\" rel=\"noopener\">last week<\/a> with the acquisition of a minority stake in a USD 18 bn Texas LNG project. It also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/338dd02a-506c-4dc0-b525-18a065a6f7fa\/adnoc-acquires-10%2525-of%253cmark%253e-mozambique%253c%2Fmark%253e-lng-project\" style=\"\" rel=\"noopener\">acquired<\/a> a 10% stake in a concession in Mozambique. The firm is also mulling <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/bcadac82-4d60-45bb-8908-ab7deb30dc3f\/plenty-of-help-from-the-gov%25e2%2580%2599t-for-the-aftermath-of-the-storm#:~:text=%232%2D%20Adnoc%20eyes,beyond%20crude%20oil.\" style=\"\" rel=\"noopener\">a stake acquisition in AmeriGas<\/a>, the propane distribution unit of US utility holding company UGI Corp, through its subsidiary Adnoc Distribution, as part of plans to diversify away from oil.<\/p>\n<p class=\"tag-border-left\"> IN OTHER M&amp;A NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ghitha\u2019s trading arm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/invictusinvestment.ae\/\" style=\"\" rel=\"noopener\">Invictus<\/a><\/strong><strong> made a formal offer to acquire a controlling stake in an <\/strong><strong>agro-food manufacturing company primarily operating in North Africa<\/strong>, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2030.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>. The acquisition will directly benefit Invictus' agro-commodity trading business, according to the statement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Invictus has been eyeing African expansion: <\/strong>The company <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/577d2e64-1b65-4196-b5f3-0e2d3e5c6709\/invictus-now-owns-60%2525-of-morocco%25e2%2580%2599s%253cmark%253e-graderco%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">completed its acquisition<\/a> of a 60% stake in Zalar Holding's interests in Moroccan agriculture trading company Graderco and all its subsidiaries in April, after expanding in Tanzania, Mozambique, Turkey, Malawi, Burundi, and Rwanda in 2023. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adnoc\/\">Adnoc<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/lng\/\">LNG<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92403 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=\"92403\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/27\/92403-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92403\" class=\"content-area-description single-story post-92403 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=\"92404\" 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=\"92404\">\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\">REAL ESTATE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/27\/high-net-worth-individuals-to-pour-usd-4-4-bn-into-dubais-property-market-knight-frank\/\">\r\n                            High net worth individuals to pour USD 4.4 bn into Dubai\u2019s property market \u2013Knight Frank                        <\/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\/27\/high-net-worth-individuals-to-pour-usd-4-4-bn-into-dubais-property-market-knight-frank\/\" 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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More than 54% of those surveyed cited the city\u2019s high-quality infrastructure as the number one factor making Dubai an attractive place to acquire real estate.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who are these HNWIs? <\/strong>The report, conducted in partnership with <a target=\"_blank\" href=\"https:\/\/yougov.co.uk\/\" style=\"\" rel=\"noopener\">YouGov<\/a>, surveyed 317 HNWI \u2014 217 living abroad and 100 GCC-based HNWI expats \u2014 with a collective net-worth of USD 5.4 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The appetite for Dubai\u2019s property is \u201cexceptionally high,\u201d <\/strong> the <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/business\/property\/2024\/05\/22\/worlds-ultra-rich-to-spend-44bn-to-buy-property-in-dubai\/\" style=\"\" rel=\"noopener\">National<\/a> quotes Faisal Durrani, partner at Knight Frank, as saying. \u201cThe level of interest to invest in Dubai rises with the level of personal wealth growing, from 28% for those worth USD 2-5mn, topping out at 70% among those worth more than USD 15 mn.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some 85% of GCC HNWI expats are buying residential property in Dubai as an <\/strong><strong>investment<\/strong>, with nearly half intending to purchase the property as a buy-to-let investment. Additionally, 60% of East Asian HNWIs seek investment properties in Dubai for rental income, capital gains, or portfolio diversification. Meanwhile, only 31% of all surveyed HNWIs are looking to purchase a property in Dubai as a main residence, second home, or holiday retreat.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Branded property has been gaining traction: <\/strong>Some 69% of HNWIs are interested in buying branded residences in the emirate, up from 59% of surveyed investors in 2023. Demand increases from 41% for those with USD 2-5 m net worths to a staggering 94% interest for those with over USD 15 mn in net worth. Among global HNWIs, 83% are interested in purchasing branded residences in Dubai. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Behind the growing demand: <\/strong>36% of the surveyed expect branded property prices in Dubai to climb by 5-10% within the first year of acquisition. 59% cited high yield and investment potential alongside service provision and physical amenities as the primary drivers for buying branded residences. Brand identity followed as the third factor with 58%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GCC-based expat investors are taking a shine to healthcare properties<\/strong>, with 34% showing interest in purchasing property in the healthcare sector, while 76% of the surveyed plan to acquire residential real estate. Meanwhile 28% prefer branded residential properties. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>With higher wealth comes a stronger diversification push:<\/strong> Knight Frank noted that preference for residential properties decreases with higher net worth. Wealthy investors with net worth ranging between USD 2-5 mn target investing in the residential sector, with interest for residences falling from 74% to 56% for those whose net worth exceeds USD 15 mn. \u201cThis apparent change in attitudes towards the residential sector amongst the world\u2019s wealthy may not necessarily indicate a lack of appetite for residential real estate, but perhaps a greater desire to diversify their portfolios,\u201d the report explains. <\/p>\n<p class=\"tag-border-left\">ABU DHABI AND RAS AL KHAIMAH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi is getting less interest from HNWIs<\/strong>, with only 33% of those surveyed saying they are interested in investing in the emirate, though the figure rises to 57% for those with more than USD 15 mn in personal wealth. Some 14% cited a perception of a lack of returns as their main reason for the lack of interest, while 11% cited lack of transparency and market data. Some 40% said their purchases would be for investment purposes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a similar story in Ras Al Khaimah<\/strong>, which is getting increased interest from HNWIs. Some 46% of those surveyed said the emirate\u2019s transformation makes it more attractive, with interest rising to 75% of those with a net worth of over USD 20 mn.<\/p>\n<p class=\"tag-border-left\">LOOKING AHEAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The consultancy projects a 5% y-o-y growth in Dubai\u2019s prime property prices in 2024<\/strong>, \u201cpositioning Dubai as the third fastest-growing prime residential market in the world behind Auckland 10% and Mumbai 5.5%. Prices in the mainstream market will grow at a slower 3.5%, according to the report. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HNWI\u2019s forecast is also sunny:<\/strong> The surveyed HNWis are optimistic about Dubai\u2019s real estate market, with 36% anticipating a 5-10% price increase within the first year of purchasing a property in the emirate. The most bullish are investors with over USD 15 mn in net worth, with 57% expecting prices to surge between 10-20% within a year. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai\/\">Dubai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/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=\"92406\" 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=\"92406\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/27\/fidelity-united-taps-interim-ceo\/\">\r\n                            Fidelity United taps interim 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\/27\/fidelity-united-taps-interim-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(); 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Fazal replaces former CEO Bilal Adhami (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/bilal-adhami-0125295?originalSubdomain=ae\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), who resigned from his position.<\/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\/appointment\/\">Appointment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/fidelity-united\/\">Fidelity United<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n   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data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2135.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2135.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92408\" class=\"content-area-description single-story post-92408 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-banking tag-climate tag-dp-world tag-education tag-energy tag-enterpriseam-uae tag-healthcare tag-infrastructure tag-legislation tag-logistics tag-media tag-oil tag-real-estate tag-sustainability tag-tech tag-transport 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\/.b850f2ef-e850-44bc-be3a-b2e04224afa0.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<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> Nakheel awards Palm Jebel Ali infrastructure contracts to DBB, Khansaheb: <\/strong>Dubai state-owned real estate firm Nakheel awarded two construction contracts to <a target=\"_blank\" href=\"https:\/\/www.dutcoconstruction.com\/\" style=\"\" rel=\"noopener\">DBB Contracting<\/a> and <a target=\"_blank\" href=\"https:\/\/www.khansahebcivilengineering.com\/\" style=\"\" rel=\"noopener\">Khansaheb Civil Engineering<\/a> for the development of Palm Jebel Ali\u2019s infrastructure, according to a <a target=\"_blank\" href=\"https:\/\/mediaoffice.ae\/en\/news\/2024\/may\/26-05\/nakheel-awards-contracts-for-the-commencement\" style=\"\" rel=\"noopener\">statement<\/a> from Dubai Media Office. DBB Contracting was awarded a contract for the construction of a 6km public access road leading directly to the luxury real estate development from the Sheikh Zayed Road and a road serving the central portion of the palm, while Khansaheb will be in charge of the roadway and lighting enhancements for Al Hesah Street at Dubai Waterfront, the main road connecting to Palm Jebel Ali. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> LOGISTICS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai-based<\/strong><strong>DP World and the Saudi Ports Authority (Mawani) have broken<\/strong><strong>ground on a SAR 900 mn (USD 250 mn) logistics park at Jeddah Islamic Port,<\/strong> according to a Dubai Media Office (DMO) <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2024\/may\/26-05\/news-articledp-world-and-mawani-break-ground\" style=\"\" rel=\"noopener\">statement<\/a>. The new storage and distribution hub, which is set to boost trade volumes in Saudi Arabia and the region, and will become Saudi\u2019s largest logistics park, is set to open in 2Q 2025. The project will be developed in two phases, according to the statement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Jeddah Logistics Park is being developed under a 30-year concession worth SAR 500 mn (USD 133.33 mn) granted to DP World by Mawani in 2022<\/strong>, according to an <a target=\"_blank\" href=\"https:\/\/www.dpworld.com\/news\/releases\/dpworld-and-the-saudi-ports-authority-announce-jeddah-logistics-park\/\" style=\"\" rel=\"noopener\">earlier release<\/a>. Mawani and DP World are partnering on another 30-year concession for DP World at the South Container Terminal. These two projects represent a total investment of almost SAR 4 bn (USD 1 bn), according to the statement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">SUSTAINABILITY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- AD Ports launches Maritime Sustainability Research Center: <\/strong>AD Ports Group has launched its not-for-profit Maritime Sustainability Research Center in Abu Dhabi, to be operated and managed by Abu Dhabi Maritime Academy and located on its grounds, according to a <a target=\"_blank\" href=\"https:\/\/www.adportsgroup.com\/en\/news-and-media\/2024\/05\/24\/ad-ports-group-launches-maritime-sustainability-research-centre\" style=\"\" rel=\"noopener\">statement<\/a> from Friday. The center will be dedicated to research, seeking funding, supporting graduate study programs, and sharing knowledge amongst stakeholders in the fields of the marine environment and sustainability, artificial intelligence and robotics, maritime cyber security, big data, and maritime policies and laws.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Ruler of Sharjah Sheikh Sultan bin Muhammad Al Qasimi approved the UAE's first <\/strong><strong>Aquaculture Farm<\/strong> in Khorfakkan in partnership with the University of Khorfakkan, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3aq6hf-sharjah-ruler-approves-%E2%80%98aquaculture-farm%E2%80%99-project\" style=\"\" rel=\"noopener\">Wam<\/a> writes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">BANKING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Moody's has affirmed Emirates NBD's long-term deposit and unsecured ratings at A2, <\/strong><strong>and upgraded its outlook to<\/strong><strong> positive<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.albayan.ae\/economy\/uae\/2024-05-25-1.4878138\" style=\"\" rel=\"noopener\">Al Bayan<\/a> writes. The credit rating agency affirmed the lender\u2019s baseline credit assessment at baa3, with short-term deposit ratings remaining at P-1. Sukuk programs were also affirmed, and senior unsecured foreign currency at (P)A2.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- DMCC firms can now open Al Maryah bank accounts more easily:<\/strong> Al Maryah Community Bank and Dubai\u2019s Multi Commodities Centre (DMCC) partnered to make it easier for businesses in the DMCC to open accounts through the bank\u2019s integrated digital platform, Mbank, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3bblui-maryah-community-bank-signs-mou-with-dubai-multi\" style=\"\" rel=\"noopener\">Wam<\/a> reports. DMCC firms can now open accounts digitally in six steps within 48 hours, with no minimum balance or monthly fees. The platform provides a variety of banking solutions, such as current and savings accounts, online and mobile banking, WPS, overdrafts, loans, and trade finance.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">LEGISLATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Dubai International Financial Centre Courts signed a cooperation agreement with <\/strong><strong>Hong Kong\u2019s Law Society<\/strong> during a Hong Kong delegation visit to Dubai, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3bbllv-difc-courts-signs-cooperation-agreement-with-law\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The agreement marks the \u201cfirst agreement of its kind between The Law Society of Hong Kong and a Middle East courts system,\" according to The Law Society of Hong Kong President C. M. Chan. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">HEALTHCARE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Healthy Cities programme in Sharjah could expand to include Khorfakkan, Kalba, <\/strong><strong>and Al Dhaid<\/strong>, following a recent meeting of the Executive Committee for Expanding the Scope of Healthy Cities, <a target=\"_blank\" href=\"https:\/\/gulfnews.com\/uae\/health\/sharjah-to-expand-healthy-cities-programme-to-khorfakkan-kalba-and-al-dhaid-1.102789951\" style=\"\" rel=\"noopener\">Gulf News<\/a> reports. The Healthy Cities program assesses city governments' efforts to improve public health, considering factors like disease prevalence, socioeconomics, lifestyle, environment, and healthcare utilization.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MEDIA-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- UAE and GCC to ramp up media cooperation: <\/strong>The National Media Office and UAE Media Council Chairman Sheikh Abdulla bin Mohammed bin Butti Al Hamed met with Gulf Cooperation Council (GCC) Information Ministers on Friday to discuss advancing cooperation between media institutions, focusing on sustainable coordination, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3bbm0e-abdulla-hamed-meets-information-ministers-saudi\" style=\"\" rel=\"noopener\">Wam<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- National Media Office chairman Abdulla bin Butti Al Hamed discussed with <\/strong><strong>Chinese National Radio and Television Administration minister Zhu Yonglei <\/strong>boosting media cooperation between the two countries, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3cihcx-uae-china-discuss-enhancing-cooperation-media\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The two officials also explored the prospects of establishing a media partnership.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">TRANSPORT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>RTA App gets an upgrade: <\/strong>Dubai\u2019s Roads and Transport Authority (RTA) released a new version of its RTA app, featuring a personalized dashboard with quick actions for essential services such as license renewals and purchasing parking tickets, according to a <a target=\"_blank\" href=\"https:\/\/www.rta.ae\/wps\/portal\/rta\/ae\/home\/news-and-media\/all-news\/NewsDetails\/new-version-of-rta-app-for-seamless-access-to-services\" style=\"\" rel=\"noopener\">statement<\/a>. The upgraded version also allows customers to make Salik online payments, voucher top-ups, and NOL top-ups directly within the app.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">EDUCATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi inaugurates new ACS campus: <\/strong>Tolerance and Coexistence Minister Sheikh Nahyan bin Mubarak Al Nahyan inaugurated the American Community School of Abu Dhabi in Saadiyat Island\u2019s new campus, according to the <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/education\/nahyan-bin-mubarak-inaugurates-american-community-school-of-abu-dhabis-new-campus-on-saadiyat-island\/\" style=\"\" rel=\"noopener\">Abu Dhabi Media Office<\/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   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     <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92410\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"92410\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/27\/softbank-to-sink-usd-9-bn-a-year-into-ai\/\">\r\n                            SoftBank to sink USD 9 bn a year into AI                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn 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class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/27\/softbank-to-sink-usd-9-bn-a-year-into-ai\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2064.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92411\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/27\/softbank-to-sink-usd-9-bn-a-year-into-ai\/2064-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2064.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2064.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2064.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2064.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92410\" class=\"content-area-description single-story post-92410 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-ai tag-enterpriseam-uae tag-financial-markets tag-planet-finance tag-technology 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\/.b3413d16-9dc5-4b9f-a55b-2d320711016d.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>SoftBank has lots of appetite for AI:<\/strong> Japan\u2019s <a target=\"_blank\" href=\"https:\/\/www.softbank.jp\/en\/\/\" style=\"\" rel=\"noopener\">SoftBank<\/a> plans to earmark around USD 9 bn a year to AI investments as it looks to fuel the expansion of its chip-design subsidiary Arm, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/2245e6f1-c8fa-49a4-af8a-2871dd1161ec\" style=\"\" rel=\"noopener\">Financial Times<\/a> wrote.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All for the group\u2019s \u201ccrown jewel:\u201d<\/strong> The group\u2019s founder and CEO Masayoshi Son has been pushing to transform it into an AI powerhouse, in hopes of securing acquisitions that can feed into its Arm. Much of the company\u2019s USD 180 bn net asset value has been driven by the UK-based Arm, which <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/26cbb58e-2d70-4f3b-83c8-77a3dff8f3f9\/oil-prices-are-creeping-closer-to-usd-100\" style=\"\" rel=\"noopener\">saw its share price jump nearly 25%<\/a> after its blockbuster September 2023 market debut. Arm\u2019s valuation has soared since then to exceed USD 100 bn currently.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Refresher:<\/strong> SoftBank has shifted its investment strategy to AI and semiconductors after backtracking on venture capital investments and selling assets owned by its startup fund <a target=\"_blank\" href=\"https:\/\/visionfund.com\/\" style=\"\" rel=\"noopener\">Vision Fund<\/a>, which included a USD 14 bn stake in defunct coworking startup WeWork.<\/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>Asian markets are up slightly in early trading this morning <\/strong>as investors look forward to a week packed with macro data in the run-up to Friday\u2019s release of US core personal consumption expenditures \u2014 a report that Reuters says \u201ccould set the stage for a cut in interest rates there, albeit not for a few months yet.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>European futures were down slightly overnight<\/strong>, and both Wall Street and the City are off today for holidays. <\/p>\n<p><a target=\"_blank\" id=\"t.c94e6e908f1d85fb95f41a6d77fe718dba236e45\" 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\">8,834<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: -7.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,013<\/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: -1.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">3389<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.1% (YTD: -11.8%)<\/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-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EIBOR<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.0% 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\">11,851<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.2% (YTD: -1.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">27,539<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.2% (YTD: +10.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,305<\/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: +11.2%)<\/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>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\">8,318<\/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: +7.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,035<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: +11.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 82.12<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.9%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex) <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.52<\/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\">-5.2%<\/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>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 2,357<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 68,625<\/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: +62.3%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ADX fell 0.6% yesterday<\/strong> on turnover of AED 4.6 bn. The index is down 7.8% 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>Hayah Ins. (+4.8%), Phoenix Group (+4.8%) and E7 Group (+3.5%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Taqa (-6.9%), Waha Capital (-6.0%) and Pure Health (-5.8%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over on the DFM<\/strong>, the index fell 0.3% on turnover of AED 372 mn. Meanwhile, Nasdaq Dubai closed down 1.1%.<\/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\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/technology\/\">TECHNOLOGY<\/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=\"92412\" 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=\"92412\">\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\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/27\/uae-iraqi-kurdistan-presidents-discuss-boosting-bilateral-ties\/\">\r\n                            UAE, OECD discuss cooperation                        <\/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\/27\/uae-iraqi-kurdistan-presidents-discuss-boosting-bilateral-ties\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2024\/05\/27\/uae-iraqi-kurdistan-presidents-discuss-boosting-bilateral-ties\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/uae\/2024\/05\/27\/uae-iraqi-kurdistan-presidents-discuss-boosting-bilateral-ties\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=UAE + Iraqi Kurdistan Presidents discuss boosting bilateral ties&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/27\/uae-iraqi-kurdistan-presidents-discuss-boosting-bilateral-ties\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/27\/uae-iraqi-kurdistan-presidents-discuss-boosting-bilateral-ties\/&title=UAE + Iraqi Kurdistan Presidents discuss boosting bilateral ties\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=UAE+%2B+Iraqi+Kurdistan+Presidents+discuss+boosting+bilateral+ties+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F27%2Fuae-iraqi-kurdistan-presidents-discuss-boosting-bilateral-ties%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/27\/uae-iraqi-kurdistan-presidents-discuss-boosting-bilateral-ties\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2139.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92413\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/27\/uae-iraqi-kurdistan-presidents-discuss-boosting-bilateral-ties\/2139-jpeg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2139.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2139.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2139.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2139.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92412\" class=\"content-area-description single-story post-92412 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-china tag-diplomacy tag-enterpriseam-uae tag-iraq tag-oecd 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\/.ab0621bd-a392-4b73-855c-8a3cb75ce19e.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE, Iraqi Kurdistan talk bilateral ties:<\/strong> President Sheikh Mohamed bin Zayed Al Nahyan met with the president of the Iraqi Kurdistan region, Nechirvan Barzani, on Friday to discuss boosting cooperation to benefit the UAE and Iraq, and promote sustainable development, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3bbm66-uae-president-receives-president-iraqs-kurdistan\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The leaders also swapped perspectives on several issues of mutual interest.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE, OECD discuss cooperation: <\/strong>Assistant Minister for Economic and Trade Affairs Saeed Mubarak Al Hajeri met with the Secretary-General of the Organisation for Economic Cooperation and Development (OECD), Mathias Cormann, on Friday to explore ramping up cooperation in areas of mutual interest, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3bbmhh-uae-oecd-explore-enhancing-prospects-future\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The meeting also covered the success of previous collaborations between the UAE and OECD in tax criteria and reforms.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- The Foreign Affairs Ministry said it welcomed the International Court of Justice's <\/strong><strong>latest <\/strong><strong>ruling<\/strong> to impose additional provisional measures on Israel, calling for an immediate cessation of military activities in Rafah governorate, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3bbmhi-uae-welcomes-decision-international-court-justice\" style=\"\" rel=\"noopener\">Wam<\/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\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/iraq\/\">Iraq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/oecd\/\">OECD<\/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=\"92414\" 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\/27\/92414-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92414\" class=\"content-area-description single-story post-92414 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>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 style=\"font-weight:400;\">, Abu Dhabi Energy Centre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">27-29 May (Monday-Wednesday): Arab Media Forum, Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">28 May-4 June (Tuesday-Tuesday): Subscription period for retail investors for Alef Education\u2019s IPO.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">28 May-5 June (Tuesday-Wednesday): Subscription period for institutional investors for Alef Education\u2019s IPO.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>30 May (Thursday):<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/adfosummit.ae\/\" style=\"\">Abu Dhabi Family Office Summit<\/a><\/span><span style=\"font-weight:400;\">, Saadiyat Rotana Resort, Abu Dhabi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1 June (Saturday): Deadline for <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/dubai.tie.org\/\" style=\"\">TiE Women MENA Programme 2024<\/a><\/span><span style=\"font-weight:400;\"> applications. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2-4 June (Sunday-Tuesday): The World Air Transport Summit and International Air Transport Association (IATA)\u2019s annual general meeting, Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">4-6 June (Tuesday-Thursday): The Hotel Show, Dubai World Trade Centre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">4-6 June (Tuesday-Thursday): INDEX, Dubai World Trade Centre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">4-6 June (Tuesday-Thursday): WORKSPACE, Dubai World Trade Centre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">4-6 June (Tuesday-Thursday): Leisure Show, Dubai World Trade Centre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">5 June (Wednesday): Deadline for Sidara to resubmit or withdraw its takeover bid to John Wood Group. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">10 June (Monday) Alpha Dhabi holds shareholder vote on the sale of a 49% stake in Alpha Dhabi Construction to ADQ. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">12 June (Wednesday): Alef Education shares begin trading.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">15 June (Saturday): Arafat day, national holiday.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">16-18 June (Sunday-Tuesday): Eid Al-Adha, national holiday.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime in 1H 2024:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Spinneys inaugurates its first store in KSA<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JULY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">7 July (Sunday): Islamic new year, national holiday.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">AUGUST<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21-22 August (Wednesday-Thursday): Dubai Business Forum in Beijing, China.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">9-11 September (Monday-Wednesday): World Utilities Congress, Abu Dhabi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">28-30 September (Saturday-Monday): World Association of Nuclear Operators (WANO) Biennial General Meeting, Abu Dhabi. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">OCTOBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">30-1 November (Wednesday-Friday): World Cities Cultural Summit, Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">NOVEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">11-14 November (Monday-Thursday): ADIPEC, Abu Dhabi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">11-14 November (Monday-Thursday): ADIPEC Maritime and Logistics Exhibition and Conference, Abu Dhabi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">11-14 November (Monday-Thursday): ADIPEC Decarbonisation Accelerator, Abu Dhabi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">27-28 November (Wednesday-Thursday): RAK Energy Summit, Al Hamra International Exhibition and Conference Centre, Ras Al Khaimah.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2-3 December (Monday-Tuesday): National Day, public holiday.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>5-8 December (Thursday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/tickets.formula1.com\/en\/f1-3312-abu-dhabi?pgs=1&gad_source=1&gclid=CjwKCAjw_e2wBhAEEiwAyFFFo5lKSTphNqFv_Ectz0OzLo0NjMI0mNztBGynm9Rtn7X60C1_KW-XpBoCweIQAvD_BwE\" style=\"\">Formula 1 Etihad Airways Abu Dhabi Grand Prix<\/a><\/span><span style=\"font-weight:400;\">, Yas Marina Circuit. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>9-10 December (Saturday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/b.tc\/conference\/mena\" style=\"\">The Bitcoin Mena Conference<\/a><\/span><span style=\"font-weight:400;\">, Adnec Centre Abu Dhabi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">10-12 December (Tuesday-Thursday): Middle East Business Aviation, Dubai World Central.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime before the end of the year:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Spinneys inaugurates three more stores in KSA<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen in 2025:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">6-11 April (Sunday-Friday): Geo-Spatial Week 2025, Dubai.<\/span><\/li>\n<li><span style=\"font-weight:400;\">3-4 June (Tuesday-Wednesday): Make-A-Wish International\u2019s Global Wish summit, Abu Dhabi.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime in 2028:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\"> Abu Dhabi to host the 47th Chess Olympiad<\/span><\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Adnoc eyes Shell\u2019s South Africa assets |  President in South Korea, China this week | Daman Ins. IPO<\/p>\n","protected":false},"featured_media":92395,"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-92394","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"427c6338-689d-4bef-ba94-897696f57817","teaser":"Adnoc eyes Shell\u2019s South Africa assets |  President in South Korea, China this week | Daman Ins. 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