{"id":92435,"date":"2024-05-28T00:00:00","date_gmt":"2024-05-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=92435"},"modified":"2025-12-15T00:27:54","modified_gmt":"2025-12-15T00:27:54","slug":"fresh-pledges-to-local-industry","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/fresh-pledges-to-local-industry\/","title":{"rendered":"Fresh pledges to local industry"},"content":{"rendered":"<section id=\"92437\" 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=\"92437\">\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\/28\/ihc-eyes-usd-1-bn-in-mining-acquisitions-this-year\/\">\r\n                            THIS MORNING: IHC eyes USD 1 bn in mining acquisitions this year                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/28\/ihc-eyes-usd-1-bn-in-mining-acquisitions-this-year\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" 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data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/28\/ihc-eyes-usd-1-bn-in-mining-acquisitions-this-year\/111-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/111.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"111.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/111.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/111.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92437\" class=\"content-area-description single-story post-92437 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-diplomacy tag-ma-watch tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.4afa99f1-3d4a-4a75-8d3c-0536a39868d3.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Good morning, wonderful people. <\/strong><span style=\"background-color: transparent;\">It\u2019s a slower than usual start to the week, but we have a lot of news from the first day of the Make it in the Emirates forum to dig your teeth into, as well as more data on the country\u2019s real estate sector in 1Q 2024, and updates on a long-standing real estate dispute.<\/span><\/p>\n<p class=\"tag-border-left\">PUBLIC SERVICE ANNOUNCEMENTS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai residents will now need to pay their vehicle fines digitally<\/strong> through the Roads and Transport Authority\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/bf225a52-574a-4427-aca4-9892db7c0ba9\/palm-jebel-ali-infrastructure-awards-handed-to-dbb,-khansaheb\" style=\"\" rel=\"noopener\">upgraded<\/a>&nbsp;<a target=\"_blank\" href=\"https:\/\/apps.apple.com\/ae\/app\/rta-dubai\/id426109507\" style=\"\" rel=\"noopener\">smart application<\/a> or <a target=\"_blank\" href=\"https:\/\/www.rta.ae\/wps\/portal\/rta\/ae\/home?lang=ar\" style=\"\" rel=\"noopener\">website<\/a>, after the service was discontinued at the authority\u2019s customer and service centers, the authority <a target=\"_blank\" href=\"https:\/\/x.com\/rta_dubai\/status\/1794699833107755321\" style=\"\" rel=\"noopener\">said on X<\/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>IHC ups its assets in Africa:<\/strong> The International Holding Company\u2019s (IHC) mining investment arm, International Resources Holding (IRH), has inked new joint venture agreements for iron ore mining in Angola\u2019s Kassala Kitungo and Munenga, IHC CEO Syed Basar Shueb told the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/2885f8da-cafc-4bc6-b15b-1c5275db1280\" style=\"\" rel=\"noopener\">Financial Times<\/a> yesterday. IRH is also in advanced talks to mine nickel in Burundi and various metals in Tanzania and Kenya, expecting to make some USD 1 bn of mining acquisitions this year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- The company plans to directly buy the mining concessions and make them \u201cgreen\u201d<\/strong> by using renewable energy sources like solar power, Shueb said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER- IHC is doubling down on securing critical metal supplies from Africa.<\/strong> Last month, the company snagged a 51% stake in Zambia\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/296cdee4-0fa9-4cf9-96d5-54ec57b399b0\/international-resources-holding-completes-mopani-copper-mines-in-zambia-acquisition\" style=\"\" rel=\"noopener\">Mopani Copper Mines<\/a> for USD 1.1 bn, and reportedly bid over USD 1 bn for Mumbai-based Vedanta's 51% stake in Zambia's <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/1245f56d-ecc3-47f5-8d17-de3f56ca8d4a\/%253cmark%253eihc%253c%2Fmark%253e-arm-has-its-eyes-on-another-zambia-mine-acquisition\" style=\"\" rel=\"noopener\">Konkola Copper Mines<\/a>. The natural resources extractive company is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/482e41b3-3619-4bbd-95ac-21dfbd9c9c4d\/\" style=\"\" rel=\"noopener\">also reportedly looking<\/a> to bid for private equity player EMR Capital's 80% stake in Zambia\u2019s Lubambe Copper Mine.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Other bidders?<\/strong> \u201cMajority of the time you\u2019re competing with Chinese. There\u2019s no other countries,\u201d Shueb said.<\/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\"><a id=\"wwtt2\"><\/a> <strong>#1- President Sheikh Mohamed bin Zayed Al Nahyan heads to South Korea for a <\/strong><strong>two-day visit today<\/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- Yemeni Prime Minister Ahmad Awad bin Mubarak arrived in the Emirates on Sunday on <\/strong><strong>an official visit<\/strong> in response to an invitation sent by the Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum, <a target=\"_blank\" href=\"https:\/\/www.sabanew.net\/story\/ar\/111678\" style=\"\" rel=\"noopener\">Saba Net<\/a> writes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The MENA Investor Conference hosted by Arqaam Capital kicked off yesterday and runs <\/strong><strong>through to today<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2142.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. Over 70 companies from eight major markets in the region, with a combined market cap of over USD 500 bn across 20 sectors, are attending. The conference will explore regional market trends, Saudi Arabia's mega projects, the UAE's real estate market, and economic outlooks for Qatar, Egypt, and Kuwait. <\/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=\"wwtt3\"><\/a> <strong>#1- Dubai-based contractor Drake &amp; Scull\u2019s shares <\/strong><strong>will resume trading on the Dubai Financial Market (DFM) tomorrow<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2185.pdf\" style=\"\" rel=\"noopener\">DFM disclosure (pdf)<\/a>. The contractor\u2019s relisting comes following its capital increase, which <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/39a70cf5-950a-43b1-b6dc-5836b846a059\/drake-&amp;-scull-can-now-relist-on-the-dfm-after-raising-aed-450-mn-in-capital-boost\" style=\"\" rel=\"noopener\">raised over AED 450 mn<\/a> as part of its restructuring plan. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> The DFM approved its restructuring plan \u2014 which will write off 90% of its debt \u2014 back in November 2023, which it was required to implement within a year from approval. The construction company was suspended from trading in November 2018 on the back of excessive financial losses and reporting violations. <\/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 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<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<br \/><\/strong><strong>DID YOU KNOW that we also cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Egypt<\/a><\/strong><strong> and <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong>?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to subscribe? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of EnterpriseAM UAE delivered every weekday before 7am UAE time \u2014 without charge, thanks to our friends at Mashreq.<br \/>***<\/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>One story is on every front page this morning: Israel\u2019s deadly strike in Rafah<\/strong> and Israeli troops exchanging fire with Egyptian forces at the Rafah crossing. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s been a global outcry after Israel killed at least 45 people in a Rafah tent camp.<\/strong> Even its closest allies in the US have piled on, though two US officials told <a target=\"_blank\" href=\"https:\/\/www.axios.com\/2024\/05\/27\/rafah-tent-camp-strike-biden-israel-red-line\" style=\"\" rel=\"noopener\">Axios<\/a> that the Biden administration is still deciding whether the attack crosses a red line. European Union foreign ministers have for the first time \u201cengaged in \u2018significant\u2019 discussion on sanctioning Israel if it doesn\u2019t comply with international humanitarian law,\u201d <a target=\"_blank\" href=\"https:\/\/www.politico.eu\/article\/eu-foreign-ministers-sanctions-against-israel-micheal-martin\/\" style=\"\" rel=\"noopener\">Politico<\/a> reports, citing remarks by Irish Foreign Minister Miche\u00e1l Martin. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PRESENTED WITHOUT COMMENT- A \u201ctragic mistake,\u201d says Netanyahu:<\/strong> Addressing the Israeli Parliament yesterday, Prime Minister Benjamin Netanyahu said that the deaths were due to a \u201ctechnical failure\u201d and came despite Israel\u2019s \u201cimmense efforts to avoid harming the non-involved\u201d (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=-ofsZVm3F9s\" style=\"\" rel=\"noopener\">watch, runtime: 0:45<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The news is everywhere this morning:<\/strong> <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/egyptian-guard-killed-shooting-rafah-border-israel-egypt-investigating-2024-05-27\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/cc2b8b0f-b6c1-42a5-9f90-26764887bbc4\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/05\/27\/world\/middleeast\/egypt-shooting-border-crossing-rafah.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"http:\/\/timesofisrael.com\/egyptian-soldier-killed-in-clash-with-israeli-troops-at-rafah-crossing\/\" style=\"\" rel=\"noopener\">Times of<\/a><a target=\"_blank\" href=\"http:\/\/timesofisrael.com\/egyptian-soldier-killed-in-clash-with-israeli-troops-at-rafah-crossing\/\" style=\"\" rel=\"noopener\">Israel<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/israel-palestinians-hamas-war-news-05-27-2024-7b743a848ef8bfbe69a9659a4a5dd047\" style=\"\" rel=\"noopener\">Associated Press<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- An Egyptian officer was shot dead <\/strong>during an exchange of fire between Israeli and Egyptian forces yesterday. The Egyptian Armed Forces are <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyArmySpox\/posts\/pfbid02Rribct35GtAi6AAvFHSVTuuyDLdWB6uDkVkDsgQxne6Xni8Guw5aYKgjZSMQhPASl\" style=\"\" rel=\"noopener\">investigating<\/a>, a military spokesman said. The two sides are in talks to de-escalate, according to a statement from the Israeli side picked up by the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/cc2b8b0f-b6c1-42a5-9f90-26764887bbc4\" style=\"\" rel=\"noopener\">Financial Times<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- It\u2019s crickets in the global business press this morning.<\/strong> Both US and UK markets were closed yesterday for national holidays. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A 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class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">MANUFACTURING<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/28\/make-it-in-the-emirates-kicks-off-with-a-bang\/\">\r\n                            New funding pledged for local industry at Make It in the Emirates                        <\/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\/28\/make-it-in-the-emirates-kicks-off-with-a-bang\/\" target=\"_blank\">\n                    Open in 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data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/28\/make-it-in-the-emirates-kicks-off-with-a-bang\/2243-jpeg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2243.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2243.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2243.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2243.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92440\" class=\"content-area-description single-story post-92440 post type-post status-publish format-standard has-post-thumbnail hentry category-manufacturing tag-adnoc tag-emirates-development-bank tag-manufacturing tag-purehealth tag-smes tag-tech wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.9453c153-1f95-4e2f-addb-181415a9dcdc.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The latest Make It in the Emirates Forum kicked off yesterday in Abu Dhabi <\/strong>with some AED 23 bn pledged for new industrial projects, AED 5 bn pledged to support SMEs in the sector, and more initiatives announced to boost AI in the sector and stimulate industrial growth in the northern emirates.<\/p>\n<p class=\"tag-border-left\">ADNOC INKS AED 16.8 BN AGREEMENTS + PLEDGES AED 20 BN-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Adnoc boosts local procurement target to AED 90 bn: <\/strong>Adnoc has boosted its target for procurement of local supplies to AED 90 bn by 2030, after meeting its 2027 target of AED 70 bn ahead of schedule, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3d3wku-adnoc-boosts-local-manufacturing-target-aed90\" style=\"\" rel=\"noopener\">Wam<\/a> reports. Allocated under its <a target=\"_blank\" href=\"https:\/\/www.adnoc.ae\/en\/incountry-value\" style=\"\" rel=\"noopener\">In-Country Value (ICV) program<\/a>, Adnoc\u2019s new target aims to drive back AED 178 bn into the UAE\u2019s economy over the next four years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The oil firm met its <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.khaleejtimes.com\/business\/energy\/adnoc-signs-deals-with-more-than-60-companies-to-bolster-local-manufacturing\" style=\"\" rel=\"noopener\">2027 target<\/a><\/strong><strong> after awarding two AED 16.8 bn contracts to local manufacturers<\/strong> to acquire metal pipes and valves.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown:<\/strong> Adnoc has signed agreements worth AED 8.8 bn to purchase metal pipes from <a target=\"_blank\" href=\"https:\/\/www.pmpiping.com\/index.php?id=home0\" style=\"\" rel=\"noopener\">M Piping Petroleum Equipment<\/a>, <a target=\"_blank\" href=\"https:\/\/ajsteel.com\/\" style=\"\" rel=\"noopener\">Ajmal Steel<\/a>, and the Emirati-owned <a target=\"_blank\" href=\"https:\/\/algharbiapipe.com\/\" style=\"\" rel=\"noopener\">Al Gharbia<\/a>. The state-owned oil giant also inked AED 8 bn agreements to acquire mechanical valves from valve manufacturers <a target=\"_blank\" href=\"https:\/\/www.samamatuae.com\/\" style=\"\" rel=\"noopener\">Samamat<\/a>, <a target=\"_blank\" href=\"https:\/\/camtechvalve.com\/\" style=\"\" rel=\"noopener\">Camtech Manufacturing<\/a>, <a target=\"_blank\" href=\"http:\/\/tiscofzc.com\/pro_tiscofzc\/frontend\/Manufacturing.php\" style=\"\" rel=\"noopener\">Tisco Valves Manufacturing<\/a>, <a target=\"_blank\" href=\"https:\/\/www.ptpa-valves.com\/\" style=\"\" rel=\"noopener\">PTPA<\/a>, and <a target=\"_blank\" href=\"https:\/\/mtgrp.com\/\" style=\"\" rel=\"noopener\">MT Valves and Industries<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> Introduced in 2018, Adnoc\u2019s ICV program aims to localize essential functions in the oil and gas sector by supporting local supply chains and procuring from local suppliers. Since its inception, Adnoc has injected AED 187 bn back into the economy and awarded contracts worth AED 22.4 bn to 600 small and medium companies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Adnoc will also launch a \u201cdedicated micro, small and medium enterprises accelerator programme<\/strong> to enable Emirati businesses and local mSMEs to conduct business across Adnoc\u2019s supply chain,\u201d the statement reads. The expanded program will also offer sustainability incentives for investors to encourage the integration of clean tech in supply chains. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO-<\/strong> <strong>PureHealth also inked offtake agreements worth some AED 3 bn for the procurement of local supplies<\/strong>, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3d3x85-third-make-the-emirates-forum-kicks-off-with\" style=\"\" rel=\"noopener\">Wam<\/a> reported separately. Funding for local manufacturing procurement now stands at AED 143 bn, spanning over 2k products. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- The bigger picture. <\/strong>The UAE is aiming to edge the industrial sector\u2019s contribution to GDP to AED 300 bn by 2031. The sector comprised AED 197 bn of GDP in 2023.<\/p>\n<p class=\"tag-border-left\">EDB PLEDGES AED 5 BN FOR LOCAL INDUSTRY + MORE FOR AI-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emirates Development Bank (EDB) is allocating up to AED 5 bn to finance <\/strong><strong>businesses and projects in the manufacturing sector<\/strong>, marking its highest funding pledged to date, in a bid to boost \u201ctechnology adoption, economic resilience and diversification\u201d in the sector, according to a <a target=\"_blank\" href=\"https:\/\/edb.gov.ae\/posts\/edb-commits-aed-5-billion-to-propel-uaes-manufacturing-sector-during-make-it-in-the-emirates-forum\" style=\"\" rel=\"noopener\">press release<\/a>. The AED 5 bn is part of a wider AED 30 bn pledge to support some 13.5k companies in its priority sectors \u2014 renewables, manufacturing, advanced technology, healthcare and food security \u2014 by 2026.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some AED 1 bn of the funding will be co-lended with<\/strong> <strong>commercial banks<\/strong> via credit guarantee schemes and multilateral agreements.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EDB \u2764 \ufe0f the industrial sector: <\/strong>EDB contributed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/a37d0b55-ab40-44f4-b0c8-10dabf5e1b98\/abu-dhabi-eyeing-its-first-usd-denominated-issuance-since-2021%3F\" style=\"\" rel=\"noopener\">AED 4.3 bn<\/a> to the country\u2019s total industrial GDP in 2023, up 80% y-o-y from its AED 2.4 bn share in 2022. The lender aims to raise its contribution to AED 10 bn in two years by \u201cfocusing on empowering the private sector to drive the nation's economic growth,\u201d EDB CEO Ahmed Mohamed Al Naqbi said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- EDB is providing AED 370 mn in funding to promote AI adoption across the industrial sector, <\/strong>via a newly launched Innovation through Artificial Intelligence program, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b3d3x59-moiat-partners-with-emirates-development-bank\" style=\"\" rel=\"noopener\">Wam<\/a> reported. The investment ticket will be mobilized in partnership with the Industry and Advanced Technology Ministry. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The program will provide access to technology developers and \u201cremove financial barriers\u201d to accelerate the use of AI in the sector<\/strong>, Wam said.<\/p>\n<p class=\"tag-border-left\">NEW INCENTIVES FROM ETIHADWE FOR NORTHERN EMIRATES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EtihadWe has revised its energy consumption tariff structure for industrial and tech <\/strong><strong>customers in the northern emirates<\/strong> in a bid to stimulate industrial growth, CEO Youssef Al Ali told <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/13xrqb6-etihadwe-launches-revised-energy-consumption\" style=\"\" rel=\"noopener\">Wam<\/a> on the sidelines of the event. The new tiered pricing system targets manufacturers with a monthly consumption exceeding 10 MW per hour. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The new system:<\/strong> Starting rates for the tariff will now begin at 26 fils per KW hour, down from 32 fils per KWh<\/p>\n<p class=\"tag-border-left\">MORE FROM THE FORUM-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ducab expands in Kezad:<\/strong> Dubai Cables Group subsidiary <a target=\"_blank\" href=\"https:\/\/dmb.ae\/\" style=\"\" rel=\"noopener\">Ducab Metal Business<\/a> (DMB) has inked a 50-year lease agreement with Abu Dhabi\u2019s Khalifa Economic Zone (Kezad) to expand its facilities in the industrial hub by adding over 51 sqm to its existing 50k facility for an undisclosed sum, according to a <a target=\"_blank\" href=\"https:\/\/www.adportsgroup.com\/en\/news-and-media\/2024\/05\/27\/kezad-group-signs-lease-agreement-with-ducab-metals-business-in-abu-dhabi\" style=\"\" rel=\"noopener\">press release<\/a>. The agreement, signed on the sidelines of the forum, will allow Ducab to increase its copper and aluminum production. The company did not reveal the expected increased capacity. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About DMB:<\/strong> Currently spanning over 100 sqm, Ducab\u2019s facilities previously operated with an annual production capacity surpassing 235k tonnes of copper and aluminum, exported to some 75 countries. <\/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\/emirates-development-bank\/\">Emirates Development Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/manufacturing\/\">MANUFACTURING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/purehealth\/\">PureHealth<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/smes\/\">SMEs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/tech\/\">tech<\/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=\"92442\" 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=\"92442\">\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\/28\/ultratech-to-ramp-up-stake-in-rak-white-cement\/\">\r\n                            UltraTech to ramp up stake in Rak White Cement                        <\/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\/28\/ultratech-to-ramp-up-stake-in-rak-white-cement\/\" 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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UltraTech has offered to buy the stake at AED 1.15 per share.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> UltraTech <a target=\"_blank\" href=\"https:\/\/www.thehindubusinessline.com\/companies\/ultratech-invests-1011-million-in-uae-based-rak-cement\/article65324696.ece\" style=\"\" rel=\"noopener\">acquired<\/a> a 29.39% stake in Rak White Cement for USD 101 mn in 2022.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The plan:<\/strong> UltraTech intends to expand the cement manufacturer\u2019s operations locally and globally, and to introduce new products to Rak Cement\u2019s production portfolio, such as wall care putty.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next?<\/strong> Rak White Cement is set to tap a financial adviser to present a recommendation report for its shareholders.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reax: <\/strong>Rak White Cement\u2019s shares closed up 12% at AED 1.09, putting the offer from UltraTech at a 5% premium. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92444 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"92444\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/28\/92444-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92444\" class=\"content-area-description single-story post-92444 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.mashreq.com\/en\/uae\/about-us\/our-company\/awards-accolades\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1928.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92445\" 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=\"92445\">\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\">DISPUTE WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/28\/wahat-al-zaweya-to-refund-aed-702-mn-to-buyers\/\">\r\n                            Abu Dhabi\u2019s Wahat Al Zaweya to refund AED 702 mn to buyers                        <\/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\/28\/wahat-al-zaweya-to-refund-aed-702-mn-to-buyers\/\" 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\/28\/wahat-al-zaweya-to-refund-aed-702-mn-to-buyers\/')\">\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\/28\/wahat-al-zaweya-to-refund-aed-702-mn-to-buyers\/\">\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=Wahat Al Zaweya to refund AED 702 mn to buyers&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/28\/wahat-al-zaweya-to-refund-aed-702-mn-to-buyers\/\">\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\/28\/wahat-al-zaweya-to-refund-aed-702-mn-to-buyers\/&title=Wahat Al Zaweya to refund AED 702 mn to buyers\">\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=Wahat+Al+Zaweya+to+refund+AED+702+mn+to+buyers+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F28%2Fwahat-al-zaweya-to-refund-aed-702-mn-to-buyers%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\/28\/wahat-al-zaweya-to-refund-aed-702-mn-to-buyers\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2234.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92446\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/28\/wahat-al-zaweya-to-refund-aed-702-mn-to-buyers\/2234-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2234.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2234.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2234.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2234.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92445\" class=\"content-area-description single-story post-92445 post type-post status-publish format-standard has-post-thumbnail hentry category-dispute-watch tag-dispute-watch tag-enterpriseam-uae tag-real-estate wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.2749285d-5c2b-4e1d-90f9-e91cdf73f19b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Wahat Al Zaweya to pay up AED 702 mn in court settlement:<\/strong> The Judicial Department in Abu Dhabi has ordered Abu Dhabi-based real estate developer <a target=\"_blank\" href=\"https:\/\/www.wahatalzaweya.net\/en\/\" style=\"\" rel=\"noopener\">Wahat Al Zaweya<\/a> to refund AED 702 mn in deposits to buyers in the Wahat Al Zaweya project as part of the first phase of settling 822 lawsuits, according to a <a target=\"_blank\" href=\"https:\/\/www.instagram.com\/p\/C7dzqr5sMvj\/?utm_source=ig_embed&amp;ig_rid=d60d6d10-aef3-4312-a003-7f090e032c61\" 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>In detail: <\/strong>Final rulings were issued by the ad hoc judicial body overseeing the Wahat Al Zaweya project file. The judicial body ordered the termination of all contracts with the buyers and ordered refunds to be deposited into the bank accounts of the claimants. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> A special judicial body was established in <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/details\/1395302983039\" style=\"\" rel=\"noopener\">2021<\/a> to resolve disputes related to the Wahat Al Zaweya and Wahat Yas projects. This body was mandated to manage all legal cases \u2014 whether already settled, pending, or newly filed \u2014 concerning the projects. It was also responsible for evaluating the financial position of Wahat Al Zaweya to ensure that it can fulfill its settlements. The judicial body was established after nearly a decade-long delay in delivering the properties and reported issues of financial mismanagement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next?<\/strong> The second phase of the settlement will address lawsuits filed by 630 buyers before the first phase of the settlement, offering the claimants the option to be re-offered units in the project. This phase aims to settle all pending cases through agreements, allowing buyers to decide whether to proceed in the project after reviewing the market conditions, aiming to ultimately close the Wahat Al Zaweya file.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wahat Al Zaweya intends to resume development of the halted project<\/strong> after resolving outstanding legal issues by the end of 2024. The developer\u2019s board of directors proposed a plan to appoint authorized contractors to complete the project and hand over properties to owners within one to three years.<\/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\/dispute-watch\/\">dispute watch<\/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=\"92447\" 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=\"92447\">\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\">REAL ESTATE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/28\/dubai-and-abu-dhabis-retail-rental-market-under-pressure-due-to-limited-supply-and-rising-demand\/\">\r\n                            Dubai and Abu Dhabi\u2019s retail rental market under pressure due to limited supply and rising demand                        <\/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        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href=\"https:\/\/api.whatsapp.com\/send?text=Dubai+and+Abu+Dhabi%E2%80%99s+retail+rental+market+under+pressure+due+to+limited+supply+and+rising+demand+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F28%2Fdubai-and-abu-dhabis-retail-rental-market-under-pressure-due-to-limited-supply-and-rising-demand%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\/28\/dubai-and-abu-dhabis-retail-rental-market-under-pressure-due-to-limited-supply-and-rising-demand\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2258.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92448\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/28\/dubai-and-abu-dhabis-retail-rental-market-under-pressure-due-to-limited-supply-and-rising-demand\/2258-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2258.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2258.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2258.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2258.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92447\" class=\"content-area-description single-story post-92447 post type-post status-publish format-standard has-post-thumbnail hentry category-real-estate tag-abu-dhabi tag-dubai tag-real-estate wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.45f36841-03f9-42fa-85a7-b0a01799fdd2.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Dubai and Abu Dhabi\u2019s retail rental markets witnessed a <\/strong><strong>\u201csupply-and-demand <\/strong><strong>imbalance\u201d in 1Q 2024<\/strong>, driving rents to increase 14.7% y-o-y in Abu Dhabi, and 10.5% y-o-y in Dubai, according to commercial real estate services firm CBRE Middle East\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2209.pdf\" style=\"\" rel=\"noopener\">retail and industrial market review (pdf)<\/a>.<\/p>\n<p class=\"tag-border-left\">DUBAI- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Average occupancy rates within freezone locations inched up 1.2% y-o-y <\/strong>to reach 91.3%. This segment\u2019s average rents stood at AED 43 per sq-ft in 1Q 2024, marking a 14.3% y-o-y increase, CBRE said in its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2208.pdf\" style=\"\" rel=\"noopener\">office market review (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the first quarter of the year, Dubai's industrial and logistics market saw 3k rental registrations,<\/strong> a 3.2% y-o-y increase, according to data from the Dubai Land Department. This growth was driven by a 3.4% rise in new rental registrations and a 3.1% increase in renewals. Rents in this market segment reached AED 493 per sqft.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai's retail market saw the registration of 23k rental contracts<\/strong> in 1Q 2024, somewhat the same as in 1Q 2023. New rental registrations rose by 1.6%, while renewed rental registrations fell by 3.4%<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai saw some 47k new office registrations, marking a 36% y-o-y surge<\/strong>, CBRE said, citing data from the Dubai Land Department. New rentals jumped 51.1% y-o-y to exceed 34.4 registrations. Renewed contracts stood at 12.4k, up 6.1% y-o-y from 1Q 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The emirate\u2019s limited rental properties could stunt market growth: <\/strong>\u201cAlthough demand within Dubai\u2019s retail market continues to primarily originate from the food and beverage sector, we are seeing a rising number of global and international retail brands looking to establish or expand in Dubai\u2019s core locations despite the limited availability of quality stock and elevated occupancy levels, hampering market activity,\u201d CBRE said.<\/p>\n<p class=\"tag-border-left\"> ABU DHABI-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Office occupancy rates in Abu Dhabi increased by 9.1% y-o-y, <\/strong>with a total of 10.4k rental contracts. This growth was driven by a 21.2% y-o-y rise in new rental registrations, despite a 5.1% y-o-y decline in renewed contracts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Driving demand:<\/strong> \u201cThe primary source of occupational demand in Abu Dhabi continues to originate from entities with direct and indirect government links, particularly in on-shore locations. That being said, the limited availability of quality stock remains one of the main challenges being faced. Given this, several entities have started considering build-to-suit options, particularly within core CBD locations, to accommodate their future expansion plans,\u201d CBRE <a target=\"_blank\" href=\"https:\/\/www.cbre.pt\/en-gb\/press-releases\/uae-office-market-review-q1-2024\" style=\"\" rel=\"noopener\">said<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Retail leasing fell 8.1% y-o-y in Abu Dhabi<\/strong> to some 7.7k rental contracts in 1Q 2024, attributed to renewed rental registrations contracting by 8.8% and a 6.6% drop in new contract registrations. On the upside, average rents increased by 14.7% to reach AED 2.1k per sqm.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The emirate saw industrial and logistics rental registrations grow 4.7% y-o-y<\/strong>, with new rentals climbing 9.0% and renewed contracts rising 2%. The industrial market saw a 5.1% y-o-y increase in average rents to AED 408 per sq-m.<\/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>Upwards pressure on rentals to remain, but market activity could dampen: <\/strong>\u201cThe strong levels of demand seen in the UAE\u2019s retail market have resulted in a discernible lack of quality assets. Although this is expected to continue to drive rental growth, it will likely put some pressure on new market activity, particularly given the scarcity of upcoming developments,\u201d Taimur Khan, CBRE\u2019s head of research <a target=\"_blank\" href=\"https:\/\/www.cbre.hr\/en-gb\/press-releases\/uae-retail-and-industrial-market-review-q1-2024#:~:text=The%20strong%20levels,fragmented%20in%20comparison.\" style=\"\" rel=\"noopener\">said<\/a>. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi\/\">Abu Dhabi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai\/\">Dubai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/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=\"92449\" 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=\"92449\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">STARTUP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/28\/holo-closes-pre-series-a-funding-round-to-boost-expansion-plans\/\">\r\n                            Holo closes pre-series A funding round to boost expansion plans                        <\/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\/28\/holo-closes-pre-series-a-funding-round-to-boost-expansion-plans\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The funding round also saw participation from new investor <a target=\"_blank\" href=\"https:\/\/www.aditumim.com\/\" style=\"\" rel=\"noopener\">Aditum Investment Management<\/a>. The company, which was founded in 2019, <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/en\/2023\/02\/holo-secures-seven-figure-seed-round\" style=\"\" rel=\"noopener\">closed<\/a> a seven-figure seed round in February 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Holo will use the funds to boost its UAE market presence<\/strong>, expand into Saudi Arabia, and grow its team and product lines across the GCC, according to the statement. \u201cWe are doubling down on our multiple platforms - direct to customers, agent apps and internal. These products have been built to allow for regional deployment,\u201d COO and co-founder Arran Summerhill said. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/fintech\/\">fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/startup-watch\/\">STARTUP WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/startups\/\">startups<\/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=\"92451\" 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=\"92451\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/28\/five-holdings-reports-1q-results\/\">\r\n                            Five Holdings reports 1Q results                        <\/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\/28\/five-holdings-reports-1q-results\/\" 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\/28\/five-holdings-reports-1q-results\/')\">\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\/28\/five-holdings-reports-1q-results\/\">\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=Five Holdings reports 1Q results&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/28\/five-holdings-reports-1q-results\/\">\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\/28\/five-holdings-reports-1q-results\/&title=Five Holdings reports 1Q results\">\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=Five+Holdings+reports+1Q+results+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F28%2Ffive-holdings-reports-1q-results%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\/28\/five-holdings-reports-1q-results\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1341.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92452\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/28\/five-holdings-reports-1q-results\/1341-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1341.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1341.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1341.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1341.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92451\" class=\"content-area-description single-story post-92451 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-earnings-watch tag-enterpriseam-uae tag-five-holdings tag-hospitality 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\/.e0efcb76-28ca-4e2e-a20b-96f3188ba183.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Hospitality group Five Holdings recorded a net loss of AED 3.7 mn in 1Q <\/strong><strong>2024<\/strong>, compared to a bottom line of AED 94.1 mn during the same period last year, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2141.pdf\" style=\"\" rel=\"noopener\">financial statements (pdf)<\/a>. The hospitality group\u2019s revenues fell 12.6% y-o-y to AED 355.2 mn during the quarter. On a pro forma basis, reflecting its acquisition of Universo Pacha SA, the company saw revenues of AED 2.03 bn, marking a five-fold y-o-y increase, while net income reached AED 309 mn, up 228% y-o-y, according to a separate <a target=\"_blank\" href=\"https:\/\/www.nasdaqdubai.com\/trading\/disclosures\/18431ed9-2ae6-4b28-b1a8-72e106ab01c5\" style=\"\" rel=\"noopener\">earnings release<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Revenues across segments: <\/strong>Five\u2019s hospitality segment saw revenues increase 9% y-o-y to AED 261 mn, driven by \u201crobust occupancy rates and strong revenue per available room at key properties.\u201d Revenues in the group\u2019s real estate development segment stood at AED 95 mn, down 43.5% y-o-y.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/five-holdings\/\">Five Holdings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/hospitality\/\">hospitality<\/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=\"92453\" 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=\"92453\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/28\/samana-developers-has-a-new-cso-mohamed-bin-zayed-university-of-artificial-intelligence-taps-ex-google-head-plus-ajman-govt-gets-new-director-gens\/\">\r\n                            Samana Developers has a new CSO + Mohamed bin Zayed University of Artificial Intelligence taps ex-Google head. PLUS: Ajman gov\u2019t gets new director-gens                        <\/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\/28\/samana-developers-has-a-new-cso-mohamed-bin-zayed-university-of-artificial-intelligence-taps-ex-google-head-plus-ajman-govt-gets-new-director-gens\/\" 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\/28\/samana-developers-has-a-new-cso-mohamed-bin-zayed-university-of-artificial-intelligence-taps-ex-google-head-plus-ajman-govt-gets-new-director-gens\/')\">\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\/28\/samana-developers-has-a-new-cso-mohamed-bin-zayed-university-of-artificial-intelligence-taps-ex-google-head-plus-ajman-govt-gets-new-director-gens\/\">\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=Samana Developers has a new CSO + Mohamed bin Zayed University of Artificial Intelligence taps ex-Google head. PLUS: Ajman gov\u2019t gets new director-gens&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/28\/samana-developers-has-a-new-cso-mohamed-bin-zayed-university-of-artificial-intelligence-taps-ex-google-head-plus-ajman-govt-gets-new-director-gens\/\">\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\/28\/samana-developers-has-a-new-cso-mohamed-bin-zayed-university-of-artificial-intelligence-taps-ex-google-head-plus-ajman-govt-gets-new-director-gens\/&title=Samana Developers has a new CSO + Mohamed bin Zayed University of Artificial Intelligence taps ex-Google head. PLUS: Ajman gov\u2019t gets new director-gens\">\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=Samana+Developers+has+a+new+CSO+%2B+Mohamed+bin+Zayed+University+of+Artificial+Intelligence+taps+ex-Google+head.+PLUS%3A+Ajman+gov%E2%80%99t+gets+new+director-gens+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F28%2Fsamana-developers-has-a-new-cso-mohamed-bin-zayed-university-of-artificial-intelligence-taps-ex-google-head-plus-ajman-govt-gets-new-director-gens%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\/28\/samana-developers-has-a-new-cso-mohamed-bin-zayed-university-of-artificial-intelligence-taps-ex-google-head-plus-ajman-govt-gets-new-director-gens\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2178.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92454\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/28\/samana-developers-has-a-new-cso-mohamed-bin-zayed-university-of-artificial-intelligence-taps-ex-google-head-plus-ajman-govt-gets-new-director-gens\/2178-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2178.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2178.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2178.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2178.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92453\" class=\"content-area-description single-story post-92453 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-ajman tag-moves tag-real-estate tag-samana-developers 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\/.2cd0376d-7046-4b23-8130-819242af466c.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Samana Developers<\/strong> has tapped <strong>Nima Khojasteh<\/strong> (<a target=\"_blank\" href=\"https:\/\/ae.linkedin.com\/in\/nima-khojasteh-059414187\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as its <strong>chief sales officer<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/people-in-the-news\/former-emaar-dubai-properties-executive-joins-samana-developers-f30j3fo9\" style=\"\" rel=\"noopener\">press release<\/a>. Khojasteh brings over 20 years of experience in real estate, including holding sales and leadership positions at Dubai Properties and Emaar. In his new position, he will work closely with the sales and marketing teams to develop and implement strategies that maximize revenue growth and edge Samana towards its targeted revenue of AED 12.5 bn (USD 3.5 bn) for 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">The <strong>Mohamed bin Zayed University of Artificial Intelligence <\/strong>appointed <strong>Prof <\/strong><strong>Elizabeth Churchill<\/strong> (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/elizabethfchurchill\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as <strong>head <\/strong>of its <strong>human-computer interaction department<\/strong>, according to the university\u2019s <a target=\"_blank\" href=\"https:\/\/mbzuai.ac.ae\/news\/13048\/\" style=\"\" rel=\"noopener\">website<\/a>. Churchill previously served as senior director of user experience at Google. Her expertise spans human-computer interaction, artificial intelligence, psychology, and cognitive science. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ajman Ruler Sheikh Humaid bin Rashid Al Nuaimi <\/strong>has appointed<strong> Marwan Obaid Al <\/strong><strong>Mehairi<\/strong> (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/marwan-obaid-al-muhairi-38892920\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as Director General of the Emiri Court in Ajman, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3d3wzj-ajman-ruler-issues-emiri-decree-appointing\" 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>Sheikh Al Nuaimi <\/strong>also named <strong>Sultan bin Mohammed bin Rashid Al Nuaimi <\/strong>as Director General of Ajman\u2019s Department of Ports and Customs, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3d3wwk-ajman-ruler-issues-emiri-decree-appointing\" style=\"\" rel=\"noopener\">Wam<\/a> reports.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ajman\/\">Ajman<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/real-estate\/\">Real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/samana-developers\/\">Samana Developers<\/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=\"92455\" 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=\"92455\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">UAE IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/28\/dubais-attraction-of-ultra-wealthy-chinese-property-buyers-is-getting-ink\/\">\r\n                            Dubai\u2019s attraction of ultra-wealthy Chinese property buyers is getting ink                        <\/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\/28\/dubais-attraction-of-ultra-wealthy-chinese-property-buyers-is-getting-ink\/\" 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\/28\/dubais-attraction-of-ultra-wealthy-chinese-property-buyers-is-getting-ink\/')\">\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\/28\/dubais-attraction-of-ultra-wealthy-chinese-property-buyers-is-getting-ink\/\">\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=Dubai\u2019s attraction of ultra-wealthy Chinese property buyers is getting ink&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/28\/dubais-attraction-of-ultra-wealthy-chinese-property-buyers-is-getting-ink\/\">\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\/28\/dubais-attraction-of-ultra-wealthy-chinese-property-buyers-is-getting-ink\/&title=Dubai\u2019s attraction of ultra-wealthy Chinese property buyers is getting ink\">\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=Dubai%E2%80%99s+attraction+of+ultra-wealthy+Chinese+property+buyers+is+getting+ink+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F28%2Fdubais-attraction-of-ultra-wealthy-chinese-property-buyers-is-getting-ink%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\/28\/dubais-attraction-of-ultra-wealthy-chinese-property-buyers-is-getting-ink\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2182.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92456\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/28\/dubais-attraction-of-ultra-wealthy-chinese-property-buyers-is-getting-ink\/2182-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2182.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2182.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2182.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2182.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92455\" class=\"content-area-description single-story post-92455 post type-post status-publish format-standard has-post-thumbnail hentry category-uae-in-the-news tag-dubai tag-enterpriseam-uae tag-real-estate tag-tourism tag-uae-in-the-news wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.ee2243b1-64a4-43c6-8523-b06828239462.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Real estate and tourism in the spotlight:<\/strong> The <a target=\"_blank\" href=\"https:\/\/www.scmp.com\/business\/article\/3264111\/dubai-new-portugal-chinese-property-investors-lured-golden-visas-improving-infrastructure-agents-say\" style=\"\" rel=\"noopener\">South China Morning Post<\/a> looks at increasing interest among property investors from mainland China and Hong Kong in Dubai, thanks to its investor-friendly residence-by-investment program and infrastructure investments. Savills\u2019 office in China has seen jump to about 250 a month, senior director and head of international residential at Savills in Hong Mark Elliott said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/05\/27\/travel\/dubai-old-town-historical-walking-tour-hnk-intl-spc\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a><\/strong> <strong> features Nada <\/strong><strong>Badran,<\/strong> <strong>former management consultant and founder of the tour company Wander with Nada,<\/strong> which seeks to \u201cshow a different side of Dubai\u201d to travelers. Badran set up the company in 2016, in a bid to counter the perception that Dubai lacks soul with tours showcasing the city's old town around Dubai Creek, where she spent her childhood.<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/uae-in-the-news\/\">UAE IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92457\" 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=\"92457\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/28\/hsbc-launches-e-commerce-digital-payments-platform-in-the-uae\/\">\r\n                            HSBC launches e-commerce digital payments platform in the UAE                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/28\/hsbc-launches-e-commerce-digital-payments-platform-in-the-uae\/\" 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\/28\/hsbc-launches-e-commerce-digital-payments-platform-in-the-uae\/')\">\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\/28\/hsbc-launches-e-commerce-digital-payments-platform-in-the-uae\/\">\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=HSBC launches e-commerce digital payments platform in the UAE&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/28\/hsbc-launches-e-commerce-digital-payments-platform-in-the-uae\/\">\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\/28\/hsbc-launches-e-commerce-digital-payments-platform-in-the-uae\/&title=HSBC launches e-commerce digital payments platform in the UAE\">\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=HSBC+launches+e-commerce+digital+payments+platform+in+the+UAE+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F28%2Fhsbc-launches-e-commerce-digital-payments-platform-in-the-uae%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\/28\/hsbc-launches-e-commerce-digital-payments-platform-in-the-uae\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2273.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92458\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/28\/hsbc-launches-e-commerce-digital-payments-platform-in-the-uae\/2273-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2273.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2273.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2273.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2273.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92457\" class=\"content-area-description single-story post-92457 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-capital-markets tag-e-commerce tag-geidea tag-hospitality tag-investment tag-logistics tag-lulu-group tag-rak-properties tag-ras-al-khaimah tag-real-estate tag-regulation 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\/.466e5505-f4c1-4aaf-a83f-072d14e9b005.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">E-COMMERCE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HSBC launched its e-commerce digital payment platform, <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.gbm.hsbc.com\/en-gb\/solutions\/omni-collect\" style=\"\" rel=\"noopener\">Omni Collect<\/a><\/strong>,<strong> in the UAE<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2268.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. Corporate customers can now use Omni Collect via <a target=\"_blank\" href=\"https:\/\/www.hsbcnet.com\/\" style=\"\" rel=\"noopener\">HSBCnet<\/a>, allowing clients to collect digital payments across multiple channels, including credit and debit cards, and e-wallets like Apple Pay and Samsung Pay. Clients can also integrate Omni Collect across Asia and Europe, including the UK, Australia, and India.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Geidea has integrated its merchant acquiring solution into Omni Collect<\/strong>, giving clients access to payments data.<\/p>\n<p class=\"tag-border-left\">INVESTMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE, US to ramp up economic cooperation:<\/strong> Economy Minister Abdulla bin Touq Al Marri met with members of the Miami Business Council to discuss expanding economic and investment cooperation between the UAE and the US, according to an <a target=\"_blank\" href=\"https:\/\/x.com\/Economyae\/status\/1794740879695151465\" style=\"\" rel=\"noopener\">X post<\/a> by the Economy Ministry. The minister also met with several senior officials, business leaders, and investment funds in Florida and New York during his working visit to the US.<\/p>\n<p class=\"tag-border-left\">LOGISTICS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Supermarket chain Lulu group is setting up a new logistics and food processing center <\/strong><strong>in Punjab, India<\/strong>, Lulu group director Salim MA told <a target=\"_blank\" href=\"https:\/\/www.moneycontrol.com\/news\/business\/real-estate\/lulu-group-to-set-up-logistics-food-processing-centre-in-amritsar-12729853.html\" style=\"\" rel=\"noopener\">Moneycontrol<\/a>. The facility will have a capacity of 200k metric tons, with construction expected to begin \u201csoon,\u201d Salim said. The company already has logistics and procurement centers in 15 Indian states, from where it exports more than AED 160 mn worth of agriculture products, supplying them to some 270 of its stores across the world.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another one in Amritsar soon?<\/strong> \u201cOur group also intends to have a logistics and food processing center in Amritsar for the storage, processing, grading, and packing of various local agriculture and other produce,\u201d Salim said, adding that the company plans to hold talks with SMEs and suppliers to work out the details.<\/p>\n<p class=\"tag-border-left\">HOSPITALITY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>RAK Properties adds to its portfolio: <\/strong>ADX-listed RAK Properties has launched a new upscale development in Mina Al Arab, dubbed Raha Island, it said in a <a target=\"_blank\" href=\"https:\/\/www.rakproperties.ae\/media-centre\/news\/raha-island-by-rak-properties-a-luxury-island-destination-in-mina-al-arab\/\" style=\"\" rel=\"noopener\">statement<\/a>. The development features high-end hotels and serviced residences \u2014 including three five-star hotel brands, which have already confirmed plans for locations on the island \u2014 and over 2.5 km of public beaches and new marinas, accessible via a water transit system.<\/p>\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>#1- Tiger Group breaks five world records with new tower:<\/strong> Dubai-based developer <a target=\"_blank\" href=\"https:\/\/www.tigergroup.ae\/\" style=\"\" rel=\"noopener\">Tiger<\/a><a target=\"_blank\" href=\"https:\/\/www.tigergroup.ae\/\" style=\"\" rel=\"noopener\">Group<\/a> is developing an AED 3.7 bn (USD 1 bn) residential tower in Business Bay, dubbed Tiger Sky, <a target=\"_blank\" href=\"https:\/\/www.albayan.ae\/economy\/uae\/2024-05-27-1.4879291\" style=\"\" rel=\"noopener\">Al Bayan<\/a> reports. The 532 m tall development breaks five world records, including highest rainforest (447 m), highest railway adventure through the rainforest (447 m), highest infinity pool (431 m), highest penthouse (427 m), and highest luxury restaurant with a view of Burj Khalifa. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The tower expects to house some 849 residential units \u2014 including 19 penthouses \u2014 across 122 floors, with prices starting from AED 2.2 mn. It is slated for handover in 2Q 2029, with ownership open to all nationalities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- DMCC unveils new luxury tower:<\/strong> Dubai\u2019s Multi Commodities Centre (DMCC) has launched a new luxury residential tower to be developed by <a target=\"_blank\" href=\"https:\/\/signaturedevelopers.ae\/\" style=\"\" rel=\"noopener\">Signature Developers<\/a> in the Jumeirah Lakes Towers district under the W Residences brand, according to a <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2024\/may\/27-05\/dmcc-and-signature-developers-announce-w-residences-in-the-thriving-jlt-district\" style=\"\" rel=\"noopener\">statement<\/a>. Developed in collaboration with Marriott International, Signature is expected to break ground on the 32-storey development by the end of this year.<\/p>\n<p class=\"tag-border-left\">CAPITAL MARKETS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&amp;id=83f753a277&amp;e=8e5fca127e\" style=\"\" rel=\"noopener\">Lunate Capital<\/a><\/strong><strong> has appointed FAB securities as its sixth authorized participant (AP) for <\/strong><strong>its nine ETFs<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/fab-securities-named-by-lunate-capital-llc-as-a-new-authorised-participant-for-nine-of-its-etfs-re5r7k64\" style=\"\" rel=\"noopener\">statement<\/a>. Its ETFs track stocks in the US, Saudi Arabia, China, Kuwait, Turkey, and Pakistan, and more recently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/54708302-54ff-4aac-bb5f-786fb9e02bd6\/abu-dhabi-based%253cmark%253e-lunate%253c%2Fmark%253e-capital-and-jpmorgan-launch-uae'\" style=\"\" rel=\"noopener\">UAE<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/25d62381-5bef-4e76-94c5-321fed922750\/the-adx-now-has-an-indian-etf\" style=\"\" rel=\"noopener\">India<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/4d577dcb-69d5-404b-b525-f6940a8b16b8\/%253cmark%253elunate%253c%2Fmark%253e-launches-japanese-etf\" style=\"\" rel=\"noopener\">Japan<\/a>. <\/p>\n<p class=\"tag-border-left\">REGULATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New standards for organizing Hajj or Umrah trips: <\/strong>Operators in the UAE are now required to seek out prior approval from the General Authority of Islamic Affairs and Endowments for applications or requests for Hajj or Umrah, the authority <a target=\"_blank\" href=\"https:\/\/x.com\/AwqafUAE\/status\/1795014185400643969\" style=\"\" rel=\"noopener\">said on X<\/a>. Fines of up to AED 50k will be imposed on operators organizing or advertising Hajj or Umrah trips or collecting donations for the pilgrimage without a license.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/e-commerce\/\">e-commerce<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/geidea\/\">Geidea<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/hospitality\/\">hospitality<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment\/\">investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/lulu-group\/\">LuLu Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/rak-properties\/\">RAK Properties<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ras-al-khaimah\/\">Ras Al Khaimah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/real-estate\/\">Real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/regulation\/\">regulation<\/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=\"92459\" 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=\"92459\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/28\/ecb-on-track-to-cut-interest-rates-next-week-top-bank-officials-suggest\/\">\r\n                            ECB on track to cut interest rates next week, top bank officials suggest                        <\/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\/28\/ecb-on-track-to-cut-interest-rates-next-week-top-bank-officials-suggest\/\" 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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A cut would make the ECB the first major central bank to loosen monetary policy after raising rites almost three years ago to tamp down inflation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Finland\u2019s central bank governor is also suggesting the cut will come in June. <\/strong>Olli Rehn, who also sits on the ECB\u2019s governing council, <a target=\"_blank\" href=\"https:\/\/www.suomenpankki.fi\/en\/media-and-publications\/speeches-and-interviews\/2024\/governor-olli-rehn-price-dynamics\/\" style=\"\" rel=\"noopener\">said yesterday<\/a> that inflation is falling across the Eurozone \u201cin a sustained way,\u201d meaning \u201cthe time is thus ripe in June to ease the monetary policy stance and start cutting rates.\u201d He flagged geopolitics and oil prices as risks to that forecast. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Don\u2019t expect the ECB to go nuts:<\/strong> While rate cuts are on the cards, interest rates will need to stay high enough to keep a lid on inflation, Lane suggested. \u201cThings will be bumpy and gradual. The best way to frame the debate this year is that we still need to be restrictive all year long,\u201d he said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The trigger:<\/strong> Eurozone inflation registered <a target=\"_blank\" href=\"https:\/\/ec.europa.eu\/eurostat\/en\/web\/products-euro-indicators\/w\/2-17052024-ap\" style=\"\" rel=\"noopener\">2.4% in April<\/a>, down from a peak of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bef8898b-77e6-43e7-b29e-fcf0ff68ff96\/\" style=\"\" rel=\"noopener\">over 10%<\/a> in October 2022, inching closer to the bank\u2019s <a target=\"_blank\" href=\"https:\/\/www.ecb.europa.eu\/mopo\/strategy\/pricestab\/html\/index.en.html\" style=\"\" rel=\"noopener\">2% target<\/a>. Cooling inflation data have led investors to pencil in a 25 bps cut for the benchmark deposit rate at next week\u2019s meeting, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/74b0bd6b-e7f3-4e96-bf3e-ee09e6fc3205\" style=\"\" rel=\"noopener\">FT<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>When can we expect rates to normalize? <\/strong>\u201cUnder the baseline forecasts, next year, when we expect wages to have visibly decelerated, when some of the base effects of fiscal measures which are pushing up inflation this year have faded out, then there will be a discussion about normalization,\u201d Lane said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Uh, Enterprise? What does that mean in plain English? <\/strong>Lane is suggesting the ECB is watching for two things on the inflation front before more aggressively cutting rates: For <strong>wages to grow at a slower pace<\/strong> next year \u2014 and for economies to fully <strong>adjust to the phase-out of energy subsidies and tax cuts<\/strong>. The subsidies and tax cuts were designed to shield consumers from high energy prices after Russia\u2019s invasion of Ukraine and to ease the bite of inflation. They were <a target=\"_blank\" href=\"https:\/\/www.politico.eu\/article\/european-central-bank-christine-lagarde-energy-price-support-eurozone-inflation\/\" style=\"\" rel=\"noopener\">in place throughout 2023<\/a> and are being phased out in much of the Eurozone this year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The ECB <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/221d86aa-15ae-47a4-ba58-bdbbb347b2eb\/\" style=\"\" rel=\"noopener\">held rates steady<\/a> at its last policy meeting in April, keeping the deposit rate at a record 4% that\u2019s been in place since September.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO WORTH NOTING THIS MORNING- <\/strong><\/p>\n<ul>\n<li><strong>Yeah, but can you Grok it?<\/strong> Elon Musk's AI startup xAI has raised USD 6 bn in a series B round that values it at USD 24 bn. The funding will help bring the company\u2019s first products to the market, build advanced infrastructure, and ramp up the development of future technologies. Saudi\u2019s Alwaleed bin Talal and his Kingdom Holding \u2014 long shareholders of Twitter \/ X \u2014 participated in the round. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/elon-musks-xai-raises-6-bln-series-b-funding-round-2024-05-27\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/li>\n<li><strong>China rolls out its largest chip fund:<\/strong> The Chinese government has launched its third fund to support the semiconductors industry. The CNY 344 bn (USD 47.5 bn) fund will help government efforts to reach self-sufficiency in semiconductors. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/china-sets-up-475-bln-state-fund-boost-semiconductor-industry-2024-05-27\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/li>\n<\/ul>\n<p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are mixed this morning<\/strong>, with the Nikkei and Shanghai Composite both starting the day in the red, while the Kospi and Hang Seng are basically flat. Traders seem to have welcomed the ECB\u2019s remarks as they look forward to a shorter trading week in the US and UK, where futures were up in overnight trading. European futures are also up at dispatch time. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- Why do equities traders care about interest rates? <\/strong>Lower rates mean lower returns for investors in debt, resulting in more money in the hands of businesses and consumers. As debt yields decrease, some investors will shift back into stocks in search of better returns, even though stocks are generally more volatile than debt.<\/p>\n<p><a target=\"_blank\" id=\"t.50d2bba2a1e91535952b78ba89b4f6f38cffaa20\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p>\n<div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,831<\/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: -7.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,027<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: -0.8%)<\/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>Nasdaq Dubai UAE20<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3,385<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: -11.9%)<\/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\">5.2% 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\">11,831<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: -1.1%)<\/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>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\">27,287<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.9% (YTD: +9.6%)<\/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-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,059<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: +11.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 83.10<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (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 2.50<\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,376<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.8%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 69,647<\/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\">+1.4% (YTD: +64.9%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The DFM rose 0.4% yesterday<\/strong> on turnover of AED 221 mn. The index is down 0.8% 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>Al Mazaya Holding (+14.7%), Commercial Bank of Dubai (+8.6%) and Al Salam Sudan (+8.3%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>National International Holding Company (-9.9%), Agility (-9.4%) and Salik (-4.2%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over on the ADX, <\/strong>the index stayed flat, trading on turnover of AED 1.2 bn. Meanwhile Nasdaq Dubai closed down -0.1%.<\/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\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92461\" 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=\"92461\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/28\/president-talks-boosting-ties-with-italian-pm\/\">\r\n                            President talks boosting ties with Italian PM                        <\/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\/28\/president-talks-boosting-ties-with-italian-pm\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The two heads of state also addressed collaborating in the fields of advanced technology, food security, and climate action.<\/p>\n<p class=\"tag-border-left\">OTHER DIPLO NEWS-<\/p>\n<ul>\n<li><strong>Interior Minister Saif bin Zayed Al Nahyan met with his Bavarian<\/strong><strong> counterpart, <\/strong>Joachim Herrmann, to explore the UAE\u2019s cooperation with Germany\u2019s largest state in the fields of combating crime and bolstering security. (<a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3d3wzh-saif-bin-zayed-meets-with-bavarian-minister\" style=\"\" rel=\"noopener\">Wam<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/germany\/\">Germany<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/italy\/\">Italy<\/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=\"92463\" 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\/28\/92463-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92463\" class=\"content-area-description single-story post-92463 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:\/\/www.arqaamconference.com\/\" style=\"\">MENA Investor Conference<\/a><\/span><span>, Ritz Carlton Dubai.<\/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>>AED 23 bn pledges at Make it in the Emirates | UltraTech eyes bigger stake in RAK White Cement | IHC eyes USD 1 bn mining acquisitions in 2024<\/p>\n","protected":false},"featured_media":92436,"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-92435","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"c7d5304b-5fe8-4a0d-ae91-38ae9c3aeb62","teaser":">AED 23 bn pledges at Make it in the Emirates | UltraTech eyes bigger stake in RAK White Cement | IHC eyes USD 1 bn mining acquisitions in 2024","photo_url":"https:\/\/ent.news\/2024\/5\/2215.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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