{"id":92531,"date":"2024-05-30T00:00:00","date_gmt":"2024-05-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=92531"},"modified":"2025-12-15T00:29:30","modified_gmt":"2025-12-15T00:29:30","slug":"lots-of-cooperation-with-south-korea","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/lots-of-cooperation-with-south-korea\/","title":{"rendered":"Lots of cooperation with South Korea"},"content":{"rendered":"<section id=\"92533\" 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=\"92533\">\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\/30\/this-morning-sidara-makes-final-play-for-wood-group-president-in-china\/\">\r\n                            THIS MORNING: Sidara makes final play for Wood Group + President in China                        <\/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\/30\/this-morning-sidara-makes-final-play-for-wood-group-president-in-china\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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We have the details in the news well, below. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- Be careful, out there \u2014 it\u2019s a particularly foggy morning in Dubai<\/strong>, though the fog is expected to make way for clear, sunny skies later today, with temperatures reaching 40\u00b0C, and cooling to an overnight low of 32\u00b0C. Over in Abu Dhabi, temperatures will hit 34\u00b0C, with an overnight low of 30\u00b0C. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN MEMORIAM- President Sheikh Mohamed bin Zayed Al Nahyan paid tribute to Saeed<\/strong><strong> bin Ahmed Al Otaiba<\/strong>, whose death was announced on Wednesday by his family, in a <a target=\"_blank\" href=\"https:\/\/x.com\/MohamedBinZayed\/status\/1795802282547642876\" style=\"\" rel=\"noopener\">post on X<\/a>. Al Otaiba was a prominent Emirati figure, serving as president of the Abu Dhabi Chamber of Commerce and Industry in the early 70s, and acting as a \u201cconfidant\u201d to the late Sheikh Zayed Al Nahyan, <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/news\/uae\/2024\/05\/29\/saeed-bin-ahmed-al-otaiba\/\" style=\"\" rel=\"noopener\">The National<\/a> reports. .<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>Drake &amp; Scull is back on the DFM: <\/strong>Dubai\u2013based Drake &amp; Scull re-listed its shares on the Dubai Financial Market (DGF) yesterday following a five-year hiatus. Shares soared as much as 30% in trading before closing up 24% at AED 0.31.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- Drake &amp; Scull <\/strong><strong><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 AED 450 mn<\/a><\/strong><strong> in a capital increase<\/strong> as part of its restructuring plan, allowing the firm to complete \u201cthe restructuring process, as well as [work] on the growth of Drake &amp; Scull International business and its ability to commit to implementing its future business plan and financing its new projects in all its operating sectors,\u201d Drake &amp; Scull Chairman Shafiq Abdelhamid said. The construction firm\u2019s shares were suspended from trading on the back of excessive financial losses and reporting violations.<\/p>\n<p class=\"tag-border-left\">WATCH THIS SPACE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt2\"><\/a> <strong>#1- Dubai\u2019s engineering and consulting firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/sidaracollaborative.com\/\" style=\"\" rel=\"noopener\">Sidara<\/a><\/strong><strong> submitted its fourth and final bid to <\/strong><strong>acquire the entirety of Wood Group<\/strong><strong> at a price of GBP 2.3 per share<\/strong>, valuing it at GBP 1.59 bn, according to an <a target=\"_blank\" href=\"https:\/\/www.londonstockexchange.com\/news-article\/market-news\/statement-re-final-possible-offer-for-wood-group\/16493433\" style=\"\" rel=\"noopener\">LSE disclosure<\/a>. The bid represents a 4.5% premium over its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/7a6baf06-8533-4e0d-8770-6b79943220f3\/wood-group-rejects-another-takeover-bid-from%253cmark%253e-sidara%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">last bid<\/a> on Friday, which was the third to be rejected by Wood for \u201csignificantly undervaluing the company.\u201d It also marks a 52% premium over Wood's closing share price on 29 April, which was the date before Sidara's <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/b6c21e45-3bb1-4127-9cd0-048ca91763c0\/%253cmark%253ewood-group%253c%2Fmark%253e-rejects-sidara%25e2%2580%2599s-gbp-1.4-bn-takeover-bid\" style=\"\" rel=\"noopener\">first proposal<\/a>, and a 30.4% premium over Wood's 52-week high share price as of 29 April, excluding any days when Wood was in an offer period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sidara has laid its cards on the table: <\/strong>The Dubai-based firm \u201cdoes not believe that its proposal can be progressed unless the board of Wood engages with Sidara and an extension to the deadline is granted,\u201d it said in the disclosure. The deadline set for Sidara to submit a fresh bid or withdraw its takeover offer altogether is 5 June. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wood Group is currently \u201cevaluating\u201d the offer<\/strong>, it said in a separate <a target=\"_blank\" href=\"https:\/\/www.woodplc.com\/news\/latest-press-releases\/2024\/further-statement-re-possible-offer-3\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reax: <\/strong>Wood\u2019s shares fell 0.38% to GBP 1.89 yesterday. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt3\"><\/a> <strong>#2- Eshraq to focus on private equity investments for the next five years: <\/strong>Real estate investment company <a target=\"_blank\" href=\"https:\/\/eshraquae.com\/\" style=\"\" rel=\"noopener\">Eshraq<\/a><a target=\"_blank\" href=\"https:\/\/eshraquae.com\/\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/eshraquae.com\/\" style=\"\" rel=\"noopener\">Investments<\/a> rolled out a new corporate strategy for the next five years, focusing on private equity investments and transitioning legacy portfolio assets, including properties within its existing real estate portfolio and the Goldilocks Fund managed by Shuaa GMC, it said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2428.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>. The strategy will see Eshraq continue to make selective investments in minority equity stakes, fixed-income assets, and real estate, alongside private equity investments, in a bid to boost liquidity. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Eshraq will invest in 1-2 high-growth businesses a year <\/strong>in the UAE and wider GCC region, and is seeking 50-70% equity stakes in agreements valued at USD 50-100 mn with a 5-7 year holding period. Acquisitions \u2014 which will start as early as this year \u2014 will target real estate, infrastructure and logistics, energy, technology, healthcare, consumer, food and agriculture, and Islamic finance sectors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Eshraq plans to transition its legacy portfolio by developing plots for lease or sale,<\/strong> and selling or swapping strategic plots. The company is still working out an optimal structure for transitioning the Goldilocks Fund.<\/p>\n<p class=\"tag-border-left\">PUBLIC SERVICE ANNOUNCEMENTS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The Health Ministry has urged pilgrims heading to Saudi Arabia for Hajj to take all <\/strong><strong>required flu shots at least 15 days ahead of their departure <\/strong>to ensure the effectiveness of the vaccination, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/ar\/article\/b3eak2x-%D9%88%D8%B2%D8%A7%D8%B1%D8%A9-%D8%A7%D9%84%D8%B5%D8%AD%D8%A9-%D8%AA%D8%AF%D8%B9%D9%88-%D8%A7%D9%84%D8%AD%D8%AC%D8%A7%D8%AC-%D8%A5%D9%84%D9%89-%D8%A3%D8%AE%D8%B0-%D8%AA%D8%B7%D8%B9%D9%8A%D9%85-%D8%A7%D9%84%D8%A5%D9%86%D9%81%D9%84%D9%88%D9%86%D8%B2%D8%A7\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The ministry has extended the advised period from the previous 10-day recommendation. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2<\/strong>- <strong>Abu Dhabi police refuted the rumors circulating on social media regarding a 50% <\/strong><strong>reduction<\/strong><strong> on traffic violation fines in Abu Dhabi<\/strong> in a <a target=\"_blank\" href=\"https:\/\/x.com\/ADPoliceHQ\/status\/1795765586774888452?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1795765586774888452%7Ctwgr%5Ea5bef8e3d00fb584bdddb8e47c212b3c018e1b0d%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fgulfnews.com%2Fuae%2Ftransport%2Fabu-dhabi-police-deny-rumour-of-50-discount-on-traffic-fines-1.102862597\" style=\"\" rel=\"noopener\">statement<\/a> posted on X. The authority clarified that a 35% reduction applies if the fine is paid within 60 days of the violation, excluding serious offenses, while a 25% reduction applies if the fine is paid within a year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Companies and organizations operating within Dubai\u2019s One Za'abeel can now access <\/strong><strong>privileges offered by the Dubai World Trade Centre Freezone, <\/strong>after the Dubai World Trade Centre Authority officially expanded its jurisdiction to include the twin-tower development within its freezone, according to a <a target=\"_blank\" href=\"https:\/\/www.dwtc.com\/en\/press\/dwtc-free-zone-formally-expanded-to-include-one-zaabeel\/\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. Benefits include 100% foreign ownership, exemption from customs duties, dual-licensing windows, 0% corporate tax, and simplified procedures for visas and permits.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Abu Dhabi\u2019s Environment Agency (EAD) is now responsible for issuing licenses for <\/strong><strong>all waste management operations <\/strong>to environmental service providers (ESPs), according to a <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/environment\/environment-agency-abu-dhabi-expands-licensing-and-permitting-services-to-include-waste-licensing-and-inspection-management-activities\/\" style=\"\" rel=\"noopener\">statement<\/a>. The agency will take over licensing from Tadweer for waste collection and transportation, waste trading, treatment, and waste export outside Abu Dhabi, and will be in charge of inspecting ESPs for any violations or illegal activities. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The agency was also tasked with environmental licensing for all stationary or mobile projects and establishments operating in Abu Dhabi earlier this <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/07522306-41c6-46c9-a824-d0103da7ebf5\/%253cmark%253e%253c%2Fmark%253eabu%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253edhabi%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eissues%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253edecree%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253elimiting%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253enoise%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eand%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eair%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253epollution%253cmark%253e%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">month<\/a>.<\/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>Were you forwarded this email? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of EnterpriseAM UAE delivered every weekday before 7am UAE time \u2014 without charge, thanks to our friends at Mashreq.<br \/><strong>***<\/strong><\/p>\n<p class=\"tag-border-left\"> HAPPENING TODAY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>President Sheikh Mohamed bin Zayed Al Nahyan arrived in Beijing yesterday for a two-day state visit at the invitation of <\/strong><strong>Chinese President Xi Jinping, <\/strong><a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3eas6s-uae-president-arrives-beijing-beginning-state\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The visit coincides with 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\">the state news agency<\/a> reports separately. The meeting between the two state leaders is 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 class=\"tag-border-left\"> THE BIG STORY ABROAD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a mixed bag on global front pages this morning<\/strong> as a number of stories captivate the attention of the business pages.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>No verdict on Trump\u2019s criminal hush-money trial. <\/strong>Jurors ended their first day of deliberation last night without reaching a verdict. The 12-person jury has to reach an unanimous agreement over a verdict, or else the judge will declare it a mistrial. Jurors deliberated for five hours and sent two notes asking questions of the judge. (<a target=\"_blank\" href=\"https:\/\/www.politico.com\/news\/2024\/05\/29\/trump-hush-money-trial-jury-deliberations-00160536\" style=\"\" rel=\"noopener\">Politico<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/live\/trump-trial-jury-deliberations-updates\" style=\"\" rel=\"noopener\">AP<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-29\/how-could-trump-hush-money-trial-end-verdict-is-in-jurors-hands-now?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Speaking of The Donald: Will Elon Musk get a cabinet post if there\u2019s a Trump White House v2? <\/strong>The two are now \u201cfriendly\u201d and sources tell the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/politics\/donald-trump-elon-musk-alliance-d1fe43e3?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> that Musk could well be in line for an advisory role if there\u2019s a remake of the Agent Orange Show. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- BHP has abandoned its bid for mining group Anglo American <\/strong>after Anglo American refused to extend takeover talks. \u201cWe were unable to reach agreement with Anglo American on our specific views in respect of South African regulatory risk and cost and \u2026 we were not able to access from Anglo American key information required to formulate measures to address the excess risk they perceive,\u201d BHP CEO Mike Henry said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2518.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>AND IN TECH- Gemini now speaks Arabic. <\/strong>Google\u2019s Gemini and Gemini Advanced are <a target=\"_blank\" href=\"https:\/\/blog.google\/intl\/en-mena\/product-updates\/explore-get-answers\/gemini-advanced-gemini-mobile-app-are-now-available-in-arabic\/\" style=\"\" rel=\"noopener\">now available to Arabic-speaking users<\/a> \u2014 Gemini 1.0 Pro is available as a standalone Android app or as a tab in the Google app on iOS. The more advanced Gemini flavour, which is \u201ccapable of coding, logical reasoning, following nuanced instructions and collaborating on creative projects,\u201d can be accessed for <a target=\"_blank\" href=\"https:\/\/one.google.com\/about\/ai-premium\/\" style=\"\" rel=\"noopener\">EGP 699.99 a month<\/a>. <strong>Download it yourself: <\/strong><a target=\"_blank\" href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.google.android.apps.bard&amp;hl=en&amp;pli=1\" style=\"\" rel=\"noopener\">Google\u2019s Play Store<\/a> or <a target=\"_blank\" href=\"https:\/\/apps.apple.com\/us\/app\/google\/id284815942\" style=\"\" rel=\"noopener\">Apple\u2019s App Store<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Two notable firsts for women: <\/strong>Claudia Sheinbaum, who has a PhD in energy engineering, looks set to become <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/americas\/mexico-election-claudia-sheinbaum-93f78849\" style=\"\" rel=\"noopener\">Mexico\u2019s first woman president<\/a> when voters go to the polls this coming Sunday. And Yale has named Maurie McInnis, the respected historian, its next president. She\u2019ll be <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/us-news\/education\/yale-new-president-maurie-mcinnis-first-woman-f5022baf\" style=\"\" rel=\"noopener\">the first woman to hold the job<\/a> on a permanent basis. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO WORTH READING THIS MORNING- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/ab4ce770-18cf-4025-8714-186f16a4f145\" style=\"\" rel=\"noopener\">From the Baby Boom to the Baby Bust<\/a><\/strong>, an op-ed by the FT\u2019s Martin Wolf, details the challenges that come with falling fertility rates. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND on the downside of working from home \u2014 <\/strong>US workers are <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/lifestyle\/workplace\/american-workers-loneliness-research-35793dc4?mod=hp_lista_pos1\" style=\"\" rel=\"noopener\">increasingly lonely<\/a> as they make fewer work friends with their workday dominated by virtual meetings and faceless chats. <\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p class=\"tag-border-left\"> CIRCLE YOUR CALENDAR- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai Chamber to head to Senegal, Morocco:<\/strong> The Dubai International Chamber will kick off a trade mission to Senegal and Morocco from 3 to 7 June as part of its African roadshow aimed at promoting and expanding Dubai-based companies\u2019 foothold in the continent, according to a <a target=\"_blank\" href=\"https:\/\/www.dubaichamberinternational.com\/en\/news\/dubai-international-chamber-trade-mission-set-to-strengthen-partnerships-with-business-communities-in-senegal-and-morocco\/\" style=\"\" rel=\"noopener\">statement<\/a>. The trade mission\u2019s agenda will include holding meetings between Dubai-based companies and their counterparts in Senegal and Morocco, with a focus on exploring collaboration, expansion strategies, and forging new partnerships and trade agreements. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dfm\/\">DFM<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/drake-scull\/\">Drake &amp; Scull<\/a>\n             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decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/20617.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>From OUR FAMILY to YOURS<\/span>\r\n                <\/div>\r\n            <\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92536\" 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=\"92536\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">TRADE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/30\/uae-inks-economic-and-trade-agreement-with-south-korea\/\">\r\n                            UAE inks economic and trade agreement with South Korea                        <\/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\/30\/uae-inks-economic-and-trade-agreement-with-south-korea\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n         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data-attachment-id=\"92537\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/30\/uae-inks-economic-and-trade-agreement-with-south-korea\/2429-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2429.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2429.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2429.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2429.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92536\" class=\"content-area-description single-story post-92536 post type-post status-publish format-standard has-post-thumbnail hentry category-trade tag-adnoc tag-dmcc tag-enterpriseam-uae tag-investment tag-korea tag-mubadala tag-startups tag-trade 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\/.181ce0f2-6fe8-4153-a480-9d66cb1d866f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>UAE, South Korea to slash import customs:<\/strong> The UAE has formalized its trade and economic partnership agreement with South Korea during the presidential summit between President Sheikh Mohamed bin Zayed and his counterpart Yoon Suk Yeol, the president said in a <a target=\"_blank\" href=\"https:\/\/x.com\/MohamedBinZayed\/status\/1795696733692826042\" style=\"\" rel=\"noopener\">statement<\/a>. This pact marks the first trade agreement signed between an Arab state and South Korea, Korean news agency <a target=\"_blank\" href=\"https:\/\/m-en.yna.co.kr\/view\/AEN20240529001653315?section=national\/diplomacy\" style=\"\" rel=\"noopener\">Yonhap<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The trade pact was signed alongside a total of 19 cooperation agreements and MoUs,<\/strong> the Korean news agency reports. The agreements, which span energy, nuclear power, defense, technology, climate change and cultural exchange, aim to \u201cbuild upon the robust economic cooperation that links [both] nations and deliver tangible growth for [their] peoples,\u201d the president said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A step towards the AED 4 tn non-oil trade goal:<\/strong> The agreements are expected to drive the UAE\u2019s non-oil foreign trade to exceed AED 4 tn by 2031, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3earsc-uae-and-korean-presidents-witness-signing\" 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>Background: <\/strong>The UAE and South Korea concluded negotiations for the trade agreement <a target=\"_blank\" href=\"https:\/\/english.motie.go.kr\/eng\/article\/EATCLdfa319ada\/1465\/view\" style=\"\" rel=\"noopener\">last<\/a><a target=\"_blank\" href=\"https:\/\/english.motie.go.kr\/eng\/article\/EATCLdfa319ada\/1465\/view\" style=\"\" rel=\"noopener\">year<\/a>. Under the agreement, the UAE is set to <a target=\"_blank\" href=\"https:\/\/en.yna.co.kr\/view\/AEN20231013008000320\" style=\"\" rel=\"noopener\">lift tariffs<\/a> on 91.2% of all traded goods from South Korea, while South Korea will lift tariffs on 92.8% over a 10-year period. The UAE will also gradually eliminate the 3% tariff on crude oil exports to the country, paving the way for more crude oil exports to the country, South Korean Trade Minister Cheong In-kyo said, according to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/south-korea-uae-summit-focus-defence-energy-investment-2024-05-29\/#:~:text=The%20industry%20ministers%20formally%20signed%20a%20Comprehensive%20Economic%20Partnership%20Agreement%20(CEPA)%20agreed%20in%20October%20that%20will%20remove%20all%20tariffs%20on%20South%20Korean%20arms%20exports%20when%20it%20is%20ratified%2C%20South%20Korea%20said.\" style=\"\" rel=\"noopener\">Reuters<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The agreement should also see all tariffs on South Korea\u2019s arms exports to UAE<\/strong>, as well as import duties on vehicles, eliminated, Reuters reported, citing a statement from South Korea. It will also see the UAE \u201copen its market\u201d to online gaming content and medical services, Yonhap said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The<\/strong><strong> two heads<\/strong><strong> of state discussed enhancing cooperation in a myriad of fields of mutual <\/strong><strong>interest<\/strong>, including economy and investment, conventional and clean energy, peaceful nuclear energy, and defense and defense technology, during a meeting in Seoul, attended by senior officials from both countries, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3earsa-presidents-uae-and-republic-korea-discuss\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The president emphasized the \u201cdeep strategic relations,\u201d between the UAE and Korea, bolstered by their partnership on the Barakah Nuclear Energy Plant. <\/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>The visit also saw the UAE reaffirm its commitment to <\/strong><strong><a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/13setxr-south-korea-uae-ties-deepen-with-mc13-cepa#:~:text=The%20minister%20pointed%20out%20that%20Korea%20and%20the%20UAE%20clinched%20a%20total%20of%2032%20commercial%20Memorandums%20of%20Understanding%20(MoUs)%20amounting%20to%20US%246.1%20billion%2C%20along%20with%20Mubadala%27s%20decision%20to%20invest%20US%2430%20billion%20during%20the%20Korean%20President%27s%20State%20Visit%20to%20the%20UAE%20in%20January%202023.\" style=\"\" rel=\"noopener\">invest USD 30 bn<\/a><\/strong><strong> in South Korean <\/strong><strong>businesses<\/strong> through Abu Dhabi\u2019s sovereign wealth fund Mubadala, in the fields of nuclear power, defense, and renewable energy. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Mubadala inked an MoU with the Korean Finance Ministry to <\/strong><strong>\u201cincrease investment <\/strong><strong>flows into future-focused sectors <\/strong>in South Korea\u2019s economy,\u201d including technology and small and medium-sized enterprises (SMEs), according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2421.pdf\" style=\"\" rel=\"noopener\">joint statement (pdf)<\/a>. \u201cThe Republic of Korea remains one of the world's most vibrant and dynamic economies, with a wide range of investment opportunities that offer compelling financial returns,\" Mubadala CEO Khaldoon Khalifa Al Mubarak said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>Mubadala had inked an agreement with the Korea Development Bank in January to establish the UAE-Korea Sovereign Investment Partnership, through which the UAE will plan its investments. The two sides are currently mulling some USD 6 bn in potential investments, the statement said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- DMCC and AGCC will help South Korean startups expand in the UAE: <\/strong>Dubai Multi Commodities Centre (DMCC) signed an MoU with the Seoul Business Agency (SBA), which is the Seoul government\u2019s investment promotion agency, to support with South Korean startups\u2019 expansion in the UAE, according to a <a target=\"_blank\" href=\"https:\/\/dmcc.ae\/latest-news\/dmcc-signs-strategic-partnership-with-seoul-business-agency-to-boost-innovation-between-the-uae-and-south-korea\" style=\"\" rel=\"noopener\">statement<\/a>. The partnership will see DMCC launch dedicated accelerator programs in partnership with Dubai-based venture capital firm <a target=\"_blank\" href=\"https:\/\/agcc.vc\/?utm_source=linkedin&amp;utm_medium=profile\" style=\"\" rel=\"noopener\">AGCC<\/a> for \u201cexceptional\u201d South Korean startups. <\/p>\n<p class=\"tag-border-left\">ENERGY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Adnoc to receive AED 9.4 bn LNG ships from South Korean shipbuilders: <\/strong>Among the slew of agreements were two letters of intent between Abu Dhabi National Oil Company (Adnoc) and Korean shipbuilders Samsung Heavy Industries and Hanwha Ocean to build 10 liquefied natural gas (LNG) carriers, in a transaction valued at AED 9.4 bn, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3earsc-uae-and-korean-presidents-witness-signing\" 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>What we know:<\/strong> Adnoc kicked off a tender in January for Chinese and South Korean shipyards for six firm and four optional standardized LNG carrier newbuilds, <a target=\"_blank\" href=\"https:\/\/lngprime.com\/asia\/adnoc-picks-south-korean-yards-to-build-six-lng-carriers\/113437\/\" style=\"\" rel=\"noopener\">LNG Prime<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The newbuilds are expected to service Adnoc\u2019s second LNG terminal at Ruwais, <\/strong>LNG Prime said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the nuclear energy front: <\/strong>The Emirates Nuclear Energy Corporation (Enec) signed an agreement with state-run <a target=\"_blank\" href=\"https:\/\/home.kepco.co.kr\/kepco\/EN\/main.do\" style=\"\" rel=\"noopener\">Korea Electric Power Corporation<\/a> (Kepco) to cooperate on building nuclear reactors in an unnamed third state, <a target=\"_blank\" href=\"https:\/\/en.yna.co.kr\/view\/AEN20240529006052320#:~:text=The%20state%2Drun%20Korea%20Electric%20Power%20Corp.%20and%20the%20Emirates%20Nuclear%20Energy%20Corporation%20also%20inked%20an%20agreement%20to%20seek%20opportunities%20to%20build%20nuclear%20reactors%20in%20a%20third%20country.\" style=\"\" rel=\"noopener\">Yonhap<\/a> reports. They also agreed to cooperate on potential \u201cfollow-up unit projects,\u201d according to a <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/13xw0nj-united-arab-emirates-republic-korea-issue-joint\" style=\"\" rel=\"noopener\">joint statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>South Korea\u2019s Kepco was awarded the contract to construct the four nuclear reactors in Abu Dhabi\u2019s Barakah nuclear power plant in <a target=\"_blank\" href=\"https:\/\/home.kepco.co.kr\/kepco\/EN\/B\/htmlView\/ENBJHP005.do?menuCd=EN02080104\" style=\"\" rel=\"noopener\">2009<\/a>, which was completed in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/bb5591f8-ab8f-42c4-92a2-3297d709285e\/uae%25e2%2580%2599s-first-nuclear-power-plant-is-now-complete\" style=\"\" rel=\"noopener\">December<\/a>. The government is reportedly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/d0e7308f-97c3-4c66-b1e4-2433c4d69091\/another%253cmark%253e-nuclear%253c%2Fmark%253e-plant%3F\" style=\"\" rel=\"noopener\">mulling<\/a> a second nuclear power plant as it looks to double nuclear reactors and meet energy demands, Reuters reported recently, citing people familiar with the matter. Tenders for four reactors at the potential plant \u2014 which would be the second nuclear facility in the country after the Barakah nuclear plant \u2014 could be issued \u201cwithin the next few months,\u201d with tenders awarded sometime this year, Reuters\u2019 sources say. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The two countries also pledged to collaborate on carbon capture and storage projects<\/strong>, under an MoU geared towards establishing a supply chain for clean hydrogen and carbon emissions reduction. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHE<\/strong><strong>R-<\/strong> The South Korean government announced its intention to import green hydrogen from the UAE by 2027 <a target=\"_blank\" href=\"http:\/\/climate.enterprise.press\/stories\/2023\/01\/11\/south-korea-will-get-a-whole-lot-of-hydrogen-from-mena-in-coming-years-93252\/\" style=\"\" rel=\"noopener\">last year<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The two <\/strong><strong>countries agreed<\/strong><strong> to establish a framework for climate change cooperation <\/strong>under an agreement signed by the Industry minister Sultan bin Ahmed Al Jaber and Korean Trade Minister Ahn Duk-geun.<\/p>\n<p class=\"tag-border-left\">DEFENSE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bolstering UAE\u2019s defense: <\/strong>The two countries are currently reviewing their defense capabilities \u2014 including helicopters and fighter jets \u2014 to establish the UAE\u2019s defense shield. \u201cEach aspect is being discussed, and they will be finalized and announced one by one,\u201d Yonhap reports, citing a presidential spokesperson. Other investment agreements and defense transactions were not disclosed at the UAE\u2019s request, Yonhap reported, citing Seoul officials. <\/p>\n<p class=\"tag-border-left\">DIPLOMACY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The foreign affairs ministry launched its inaugural AI-powered smart mission in Seoul <\/strong>to provide consular services for UAE citizens in South Korea, including document authentication and return document issuance, according to a <a target=\"_blank\" href=\"https:\/\/www.mofa.gov.ae\/ar-ae\/mediahub\/news\/2024\/5\/29\/29-5-2024-uae-korea\" style=\"\" rel=\"noopener\">statement<\/a> from the foreign ministry. The smart mission utilizes facial recognition technology and a hologram service that provides responses to inquiries. <\/p>\n<p class=\"tag-border-left\">OTHER AREAS OF COOPERATION- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The two countries also agreed to cooperate on <\/strong>railway infrastructure and maritime transport; protecting intellectual property, developing joint projects in Africa and infrastructure projects in \u201cthird countries\u201d, climate cooperation, advanced technology, space, agriculture, and healthcare.<\/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\/dmcc\/\">DMCC<\/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\/korea\/\">Korea<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/mubadala\/\">Mubadala<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/trade\/\">trade<\/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=\"92538\" 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=\"92538\">\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\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/30\/five-holdings-taps-banks-for-2025-ipo\/\">\r\n                            Five Holdings taps banks for 2025 IPO                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/30\/five-holdings-taps-banks-for-2025-ipo\/\" 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 exact timing and size of the IPO were not disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We knew this was coming: <\/strong>Five Chairman Kabir Mulchandani told Reuters earlier in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/e527968f-1bdb-4297-8e8e-dda24472ad6c\/world-future-energy-summit-kicks-off-today\" style=\"\" rel=\"noopener\">April<\/a> that the company was planning to list in Dubai, and mulling a potential dual listing. Mulchandani did not elaborate on a specific exchange for the second listing.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Five: <\/strong>Five operates luxury hotels in Dubai, Ibiza, and Switzerland \u2014 including one of Dubai's biggest party hotels \u2014 and is valued between USD 2.5-3 bn. The group has doubled down on expanding its Spanish footprint as of late, acquiring Spanish company Chioro for AED 210.26 mn (EUR 52.75 mn) in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/e07a678f-432f-4b12-97e1-8219f8771233\/%253cmark%253efive-holdings%253c%2Fmark%253e-bags-spanish-company-chioro-for-aed-210.26-mn\" style=\"\" rel=\"noopener\">February<\/a> and Spanish hospitality company <a target=\"_blank\" href=\"https:\/\/www.grupopacha.com\/\" style=\"\" rel=\"noopener\">Pacha Group<\/a> for AED 1.21 bn (EUR 303 mn) in <a target=\"_blank\" href=\"https:\/\/www.nasdaq.com\/articles\/dubai-hospitality-group-five-holdings-completes-$322-mln-pacha-group-deal\" style=\"\" rel=\"noopener\">October<\/a>, which was funded through a green bond issuance and revolving credit facility.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>The company recorded a bottom line of AED 309 mn on a pro forma basis after acquiring Universo Pacha in 1Q 2024. In 2023, the company\u2019s net income increased <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/0d439e1f-8e88-462b-88c9-65deb5f67020\/%253cmark%253efive-holdings%253c%2Fmark%253e-%2B-union-coop-report-2023-financial-results\" style=\"\" rel=\"noopener\">35% y-o-y<\/a> to AED 314 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong><strong>The DFM is seeing a lot of IPO activity this year: <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/e2feb924-f76a-4703-af1e-485f9061c6b2\/icd-backed-alec-taps-banks-ahead-of-planned-ipo\" style=\"\" rel=\"noopener\">Last week<\/a>, construction firm Alec tapped advisors for an IPO on the DFM. Amanat Holdings is also reportedly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/a7487593-d87d-409f-8b7b-96601eda5c08\/expect-at-least-five-more-ipos-in-the-uae-this-year\" style=\"\" rel=\"noopener\">looking to list<\/a> either its education or healthcare unit, with reports that its healthcare unit could raise some USD 200 mn as soon as this year, while shisha producer Advanced Inhalation Rituals was said to be <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/mideasts-biggest-tobacco-firm-air-invites-banks-pitch-roles-ipo-sources-2023-07-04\/\" style=\"\" rel=\"noopener\">eyeing an IPO<\/a> in 1H 2024. The Dubai bourse has already seen two successful IPOs this year, including Parkin, which raised <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/de573f5b-c1df-4b13-ba64-58e95fdfcffb\/%253cmark%253eparkin%253c%2Fmark%253e-share-price-rises-35%2525-on-market-debut\" style=\"\" rel=\"noopener\">AED 1.57 bn<\/a>, and Spinneys, which <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/65ee8d31-39fa-4506-ac4e-bdf3e240be04\/%253cmark%253espinneys%253c%2Fmark%253e-share-jump-on-market-debut\" style=\"\" rel=\"noopener\">raised AED 1.38 bn<\/a>.<\/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\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ipo\/\">IPO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ipo-watch\/\">IPO WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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=\"92540 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=\"92540\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/30\/92540-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92540\" class=\"content-area-description single-story post-92540 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=\"92541\" 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=\"92541\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/30\/mashreq-bank-taps-banks-for-at1-bond-issuance\/\">\r\n                            Mashreq Bank taps banks for AT1 bond issuance                        <\/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\/30\/mashreq-bank-taps-banks-for-at1-bond-issuance\/\" 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 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href=\"https:\/\/api.whatsapp.com\/send?text=Mashreq+Bank+taps+banks+for+AT1+bond+issuance+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F30%2Fmashreq-bank-taps-banks-for-at1-bond-issuance%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\/30\/mashreq-bank-taps-banks-for-at1-bond-issuance\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2673.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92542\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/30\/mashreq-bank-taps-banks-for-at1-bond-issuance\/2673-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2673.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2673.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2673.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2673.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92541\" class=\"content-area-description single-story post-92541 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-banking tag-debt tag-debt-watch tag-enterpriseam-uae tag-mashreq wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.9f311d35-d5b7-48c9-ada5-73a71cdd869f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Our friends at Mashreq are set to issue benchmark-sized, USD-denominated <\/strong><strong>a<\/strong><strong>dditional tier 1 (AT1) bonds<\/strong> after hiring banks to advise on the issuance, <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/markets\/fixed-income\/dubais-mashreq-hires-banks-for-sale-of-at1-notes-document-says-qfom0lo0\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing an arranging document it saw. The bonds will be perpetual and non-callable for 5.5 years, meaning Mashreq can\u2019t redeem them in that period except by paying a penalty.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Benchmark-sized?<\/strong> A \u201cbenchmark sized\u201d issuance is usually at a minimum valued at USD 500 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next: <\/strong>Investor meetings start today, according to the newswire.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Uh,<\/strong><strong> Enterprise, what are AT1 bonds? <\/strong>They\u2019re a common way banks raise core tier-one capital without diluting shareholders by raising equity. Additional tier one certificates (or just \u201cAT1 certificates\u201d) are a form of subordinated debt \u2014 they rank behind other types of bank debt in case of liquidation. That makes them riskier than senior debt, but still prioritizes them above equity holders. AT1 certificates are \u201cperpetual\u201d in that they have no fixed maturity date. They pay interest in much the same way as a bond does, but usually can be converted into equity in some circumstances \u2014 that\u2019s why they\u2019re often called CoCos in the industry, for \u201ccontingent convertibles.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CoCos are common in the banking world<\/strong> \u2014 HSBC and Deutsche Bank use them and Standard Chartered announced a USD 1 bn CoCo in February of this year, as did Saudi\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4ab80e0f-7639-4fb0-8436-412510446924\/\" style=\"\" rel=\"noopener\">Alinma Bank<\/a> with a USD 1 bn issuance.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The timing is good for Mashreq: Ratings agency Moody\u2019s has upgraded Mashreq\u2019s <\/strong><strong>long-term deposit and senior <\/strong><strong>unsecured ratings to A3, up from Baa1<\/strong>, assigning it a stable outlook, the lender said in a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/mashreq-uae_banking-finance-operationalresilience-activity-7201531940091400193-gjZY\/?utm_source=share&amp;utm_medium=member_ios\" style=\"\" rel=\"noopener\">statement<\/a>. The bank cited its \u201coperational resilience\u201d as well as improvements in credit fundamentals, asset quality, profitability, and robust funding and liquidity profiles for the upgrade. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>Mashreq has appointed Abu Dhabi Commercial Bank, Al Ahli Bank of Kuwait\u2019s DIFC branch, BofA Securities, Citi, Emirates NBD Capital, FAB, Kamco Investment Company, Mashreq, and Mizuho as joint lead managers and joint bookrunners. <\/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\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt-watch\/\">DEBT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/mashreq\/\">Mashreq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92543\" 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=\"92543\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/30\/icd-binghatti-see-bottomline-growth-in-2023\/\">\r\n                            Binghatti, ICD see bottomline growth in 2023                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/30\/icd-binghatti-see-bottomline-growth-in-2023\/\" 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\/30\/icd-binghatti-see-bottomline-growth-in-2023\/')\">\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\/30\/icd-binghatti-see-bottomline-growth-in-2023\/\">\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=ICD, Binghatti see bottomline growth in 2023&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/30\/icd-binghatti-see-bottomline-growth-in-2023\/\">\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\/30\/icd-binghatti-see-bottomline-growth-in-2023\/&title=ICD, Binghatti see bottomline growth in 2023\">\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=ICD%2C+Binghatti+see+bottomline+growth+in+2023+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F30%2Ficd-binghatti-see-bottomline-growth-in-2023%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\/30\/icd-binghatti-see-bottomline-growth-in-2023\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2795.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92544\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/30\/icd-binghatti-see-bottomline-growth-in-2023\/2795-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2795.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2795.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2795.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2795.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92543\" class=\"content-area-description single-story post-92543 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-binghatti tag-earnings-watch tag-enterpriseam-uae tag-investment-corporation-of-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\/.17a6181e-0bbf-4269-bc49-5a2dcdb6d999.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">ICD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Investment Corporation of Dubai's (ICD) net income rose 68% y-o-y to <\/strong><strong>an all-time high of AED <\/strong><strong>60.8 bn in 2023<\/strong>, on the back of growth in the hospitality and real estate sectors, it said in an <a target=\"_blank\" href=\"https:\/\/icd.gov.ae\/the-group-announces-its-best-ever-performance-well-above-last-years-record\/\" style=\"\" rel=\"noopener\">earnings release<\/a>. The Dubai government\u2019s investment arm booked a record AED 310.2 bn in revenues, climbing 16% y-o-y during the year on the back of \u201chigher passenger traffic in transportation as well as the asset growth and higher interest rates in banking and financial services.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Breakdown: <\/strong>ICD\u2019s revenues from its transportation segment rose 119% y-o-y, while revenues from its banking and financial services segment climbed 69% y-o-y. The state investor logged lower oil and gas revenues during the year, driven by the decline in global oil prices.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICD\u2019s assets also grew 12% y-o-y to a record AED 1.32 tn, <\/strong>with banking assets climbing 16% y-o-y. Non-banking operations assets increased 5% y-o-y while reducing their indebtedness.<\/p>\n<p class=\"tag-border-left\">BINGHATTI- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Binghatti\u2019s bottom line rose 138.8% y-o-y to AED 726.3 mn in 2023, <\/strong>according to its consolidated <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2411.pdf\" style=\"\" rel=\"noopener\">financial statements (pdf)<\/a>. The Dubai-based property developer\u2019s revenues during the period more than doubled to AED 2.13 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dividends: <\/strong>Binghatti will distribute AED 172.5 mn in dividends, \u201coffsetting an additional contribution from shareholder of AED 92.6 mn and a net payable balance to shareholder amounting to AED 79.9 mn.\u201d<\/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\/binghatti\/\">Binghatti<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/investment-corporation-of-dubai\/\">Investment Corporation of 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=\"92545\" 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=\"92545\">\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\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/30\/fab-names-new-senior-managing-director\/\">\r\n                            FAB names new senior managing director                        <\/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\/30\/fab-names-new-senior-managing-director\/\" 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\/30\/fab-names-new-senior-managing-director\/')\">\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\/30\/fab-names-new-senior-managing-director\/\">\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=FAB names new senior managing director&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/30\/fab-names-new-senior-managing-director\/\">\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\/30\/fab-names-new-senior-managing-director\/&title=FAB names new senior managing director\">\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=FAB+names+new+senior+managing+director+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F30%2Ffab-names-new-senior-managing-director%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\/30\/fab-names-new-senior-managing-director\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/25.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92546\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/30\/fab-names-new-senior-managing-director\/25-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/25.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"25.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/25.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/25.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92545\" class=\"content-area-description single-story post-92545 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-banking tag-enterpriseam-uae tag-fab tag-moves wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.2b98ca1f-9c6d-499d-bf5f-7ec50d3b39cd.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>First Abu Dhabi Bank<\/strong> (FAB) has appointed <strong>Guy Smith<\/strong> (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/guysmithhk\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as its <strong>senior managing <\/strong><strong>director and head of global corporate finance<\/strong>, the lender said in a <a target=\"_blank\" href=\"https:\/\/www.bankfab.com\/en-ae\/about-fab\/group\/in-the-media\/fab-appoints-guy-smith-as-head-of-global-corporate-finance\" style=\"\" rel=\"noopener\">statement<\/a>. Smith will focus on transaction origination, structuring and distribution, debt and equity capital markets, advisory, loan financing, and securities. His career spans over 25 years in banking and finance, and he enters the role after serving for six years as global financing services firm Nomura\u2019s Asia head of client financing and solutions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai Airports restructured its <\/strong><strong>senior<\/strong><strong> management team, appointing five Emiratis to key <\/strong><strong>positions<\/strong>, in line with its Emiratisation and national talent development goals, <a target=\"_blank\" href=\"https:\/\/www.emaratalyoum.com\/business\/local\/2024-05-29-1.1856046\" style=\"\" rel=\"noopener\">Emarat Al Youm<\/a> reports. The company\u2019s executive-level Emiratisation rate has now reached 78%, surpassing the 50% target, according to CEO Paul Griffiths. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The changes:<\/strong><\/p>\n<ul>\n<li><strong>Majid Sultan Aljoker<\/strong> (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/majid-sultan-aljoker-4400b882\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), currently serving as COO, will now also <strong>head the Corporate Resilience Department<\/strong>;<\/li>\n<li><strong>Adil Al Fahim<\/strong>, current CFO at Dubai Airports, will handle <strong>corporate assurance<\/strong>;<\/li>\n<li><strong>Meshari Al Bannai<\/strong> (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/meshari-al-bannai-7b2a0330\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) was appointed as <strong>Chief People Officer<\/strong>;<\/li>\n<li><strong>Omar Binadai<\/strong> (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/omar-binadai-532b69a0\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) was appointed <strong>Chief Technology and Infrastructure Officer<\/strong>.<\/li>\n<li><strong>Buti Qurwash<\/strong> (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/buti-qurwash-2a498297\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) expands his role to become <strong>Senior Vice President of Safety and Security Affairs<\/strong>.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sukoon Takaful<\/strong> appointed <strong>Dima Fakhoury<\/strong> (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/dima-fakhoury-msm-cia-crma-cii-107ab440\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as<strong> Company Secretary<\/strong>, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2552.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>. Fakhoury has served as head of compliance and corporate governance at the firm starting in April 2024. <\/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\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/fab\/\">FAB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92547\" 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=\"92547\">\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\">UAE IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/30\/dmcc-chair-on-sanctions-against-russia-trade-tensions-and-the-attractiveness-of-dubai-as-a-trade-hub\/\">\r\n                            DMCC chair on sanctions against Russia, trade tensions, and the attractiveness of Dubai as a trade hub                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn 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navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2024\/05\/30\/dmcc-chair-on-sanctions-against-russia-trade-tensions-and-the-attractiveness-of-dubai-as-a-trade-hub\/')\">\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\/30\/dmcc-chair-on-sanctions-against-russia-trade-tensions-and-the-attractiveness-of-dubai-as-a-trade-hub\/\">\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=DMCC chair on sanctions against Russia, trade tensions, and the attractiveness of Dubai as a trade hub&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/30\/dmcc-chair-on-sanctions-against-russia-trade-tensions-and-the-attractiveness-of-dubai-as-a-trade-hub\/\">\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\/30\/dmcc-chair-on-sanctions-against-russia-trade-tensions-and-the-attractiveness-of-dubai-as-a-trade-hub\/&title=DMCC chair on sanctions against Russia, trade tensions, and the attractiveness of Dubai as a trade hub\">\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=DMCC+chair+on+sanctions+against+Russia%2C+trade+tensions%2C+and+the+attractiveness+of+Dubai+as+a+trade+hub+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F30%2Fdmcc-chair-on-sanctions-against-russia-trade-tensions-and-the-attractiveness-of-dubai-as-a-trade-hub%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\/30\/dmcc-chair-on-sanctions-against-russia-trade-tensions-and-the-attractiveness-of-dubai-as-a-trade-hub\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1218.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92548\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/30\/dmcc-chair-on-sanctions-against-russia-trade-tensions-and-the-attractiveness-of-dubai-as-a-trade-hub\/1218-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1218.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1218.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1218.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1218.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92547\" class=\"content-area-description single-story post-92547 post type-post status-publish format-standard has-post-thumbnail hentry category-uae-in-the-news tag-enterpriseam-uae tag-trade tag-uae-in-the-news tag-uae-russia-relations 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\/.5e6be0da-d81c-4b2a-b234-4f12f935f173.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s another quiet day for UAE in the news<\/strong>, except for a <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/5183dd85-87f0-4f6f-a655-1abc78f084ad\" style=\"\" rel=\"noopener\">Financial Times<\/a> interview with Dubai Multi Commodities Centre Chairman Hamad Buamim discussing the current global landscape of trade amid geopolitical tensions, the attractiveness of the UAE to Russian and global firms, and what he said was the ineffectiveness of sanctions against Russia.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cSanctions slow the economy, never stop it.<\/strong> Trade continues flowing, it just flows in a different way,\u201d Buamim said, adding that trade traffic has been redirected to Dubai, owing to its neutral location amid geopolitical tensions, alongside infrastructure and market access. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>He also refuted claims that Russian firms came to the UAE to escape sanctions<\/strong>, explaining that  \u201cit is not the Russians that really dominated the growth. We had growth coming from Switzerland. We have companies from other countries. They see that Dubai has the infrastructure, the market access and the neutral stance [on the war].\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Buamim also touched on the difficulty of maintaining a neutral position between the US and China<\/strong> amid escalating trade tensions, calling it a \u201cchallenge for businesses throughout the world.\u201d <\/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\/trade\/\">trade<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/uae-russia-relations\/\">UAE-Russia relations<\/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=\"92549\" 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=\"92549\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/30\/first-japanese-etf-debuts-on-the-adx\/\">\r\n                            First Japanese ETF debuts on the ADX                        <\/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\/30\/first-japanese-etf-debuts-on-the-adx\/\" 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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This marks the first ETF tracking Japanese equities on the ADX and the 13th ETF on ADX, and comes at a time when Japanese stocks have rallied and become more attractive to investors. The ETF tracks 30 Japanese companies listed on the Tokyo Stock Exchange such as Honda Motor Co, Toyota Motors Corp, Sony, Softbank Group, and Mitsubishi UFJ Financial Group Inc.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fast fact: <\/strong>ETF trading values on ADX surpassed AED 5.2 bn in 2023, up 161% y-o-y. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The Dubai Chamber of Commerce has set up the Dubai Stockbrokers and Investment <\/strong><strong>Services Group (DSIG) <\/strong>under its umbrella as a business council focusing on stockbrokers, fund managers, and private equity players, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/dubai-stockbrokers-and-investment-services-group-emerges-under-dubai-chamber-of-commerces-business-groups-nwjwti0z\" style=\"\" rel=\"noopener\">press release<\/a>. <\/p>\n<p class=\"tag-border-left\">TRADE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Etihad Credit Ins. (ECI) launched the Xport Xponential initiative to boost UAE exports<\/strong>, particularly targeting SMEs and non-oil products, at the Make it in the Emirates forum, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/etihad-credit-insurance-launches-xport-xponential-initiative-to-boost-national-exports-in-foreign-markets-dvgqjx7q\" style=\"\" rel=\"noopener\">press release<\/a>. The platform will offer UAE-based companies extensive credit facilities and financial solutions through collaborations with the financial and banking sectors. It will also offer \u201csubstantial facilities\u201d for companies accessing markets in countries that have trade and economic agreements with the UAE. The initiative will focus on businesses with audited financials and annual turnovers ranging from AED 10 to 250 mn. <\/p>\n<p class=\"tag-border-left\">DEBT WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PNC Investments, which issued Sobha Sukuk Limited Trust Certificates 2028, is buying <\/strong><strong>back and retiring USD 15 mn trust certificates<\/strong>, based on their nominal value, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2517.pdf\" style=\"\" rel=\"noopener\">Nasdaq Dubai disclosure (pdf)<\/a>. Following this cancellation, the remaining nominal issue size is USD 270 mn.<\/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>#1- Dubai Taxi to provide Talabat with delivery services:<\/strong> Dubai Taxi and Talabat have inked an agreement to use Dubai Taxi\u2019s fleet for transport delivery solutions for Talabat\u2019s customers across the UAE, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2449.pdf\" style=\"\" rel=\"noopener\">DFM disclosure (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- DP World + Maalexi partner to boost food security: <\/strong>DP World has signed an agreement with UAE-based dynamic risk management outfit <a target=\"_blank\" href=\"https:\/\/www.maalexi.com\/\" style=\"\" rel=\"noopener\">Maalexi<\/a> to enhance operational efficiency and streamline access to a wider range of food products at Jebel Ali Port, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/dp-world-and-maalexi-partner-to-drive-innovation-and-access-for-food-security-d28kpyl9\" style=\"\" rel=\"noopener\">press release<\/a>. The partnership aims to expedite delivery time for essential food supplies for businesses across the UAE and the wider region.<\/p>\n<p class=\"tag-border-left\">ENTREPRENEURSHIP-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Female Emirati-led home businesses in Abu Dhabi can now get help transitioning to <\/strong><strong>licensed <\/strong><strong>commercial enterprises <\/strong>thanks to a new initiative launched by the Khalifa Fund for Enterprise Development, according to the <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/community\/khalifa-fund-for-enterprise-development-launches-swan-programme-to-empower-female-emirati-led-home-businesses\/\" style=\"\" rel=\"noopener\">Abu Dhabi Media Office<\/a>. The initiative, dubbed SWAN, will see 10-15 participants receive workshops and business coaching sessions for a 6-8 week duration, and potentially secure a share of an AED 1 mn grant upon completion. Post-program assistance will also be available for business establishment and market access.<\/p>\n<p class=\"tag-border-left\">MINERALS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Energy and Infrastructure Ministry inked an MoU with Abu Dhabi\u2019s<\/strong> <strong>Technological <\/strong><strong>Innovation Institute to design three-dimensional maps of natural resources in the UAE<\/strong>, the Ministry <a target=\"_blank\" href=\"https:\/\/x.com\/MOEIUAE\/status\/1795711803747381363\" style=\"\" rel=\"noopener\">said on X<\/a>. The agreement seeks to identify mineral and renewable energy sources \u2014 including geothermal energy, and will also see the two sides cooperate to develop research and technical capacity in the fields of mineral resources and geology, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b3earml-ministry-energy-technology-innovation-institute\" style=\"\" rel=\"noopener\">Wam<\/a> reports.<\/p>\n<p class=\"tag-border-left\">AVIATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>Strata <\/strong><strong>+ Lufthansa Technik partner on aircraft repair: <\/strong>Mubadala-owned composite aerostructures manufacturer Strata Manufacturing and global maintenance provider Lufthansa Technik\u2019s subsidiary <a target=\"_blank\" href=\"https:\/\/www.google.com\/search?q=lufthansa+technik+middle+east&amp;sca_esv=e87395d15064fe37&amp;ei=zUBXZtiSPLSwi-gPpve8gAU&amp;gs_ssp=eJwFwUsKgCAQAFDaBh0hcNM6x3AMj9AtpnHsH0SGdfveK6t2agEmvPIHa9aFb_TbiY3OGh3QgozovH57tpEMOuYekRiGen9imum8SSXh-Vw2dSwh7KKE7vQDMxoawg&amp;oq=Lufthansa+Technik+middle&amp;gs_lp=Egxnd3Mtd2l6LXNlcnAiGEx1ZnRoYW5zYSBUZWNobmlrIG1pZGRsZSoCCAAyERAuGIAEGJECGMcBGIoFGK8BMgUQABiABDIFEAAYgAQyBhAAGBYYHjIGEAAYFhgeMgsQABiABBiGAxiKBTILEAAYgAQYhgMYigUyCxAAGIAEGIYDGIoFMgsQABiABBiGAxiKBTIIEAAYgAQYogQyIBAuGIAEGJECGMcBGIoFGK8BGJcFGNwEGN4EGOAE2AECSK0NUIkBWMgHcAF4AZABAJgBwwGgAecHqgEDMC43uAEByAEA-AEBmAIIoAK2CMICChAAGLADGNYEGEfCAg0QABiABBiwAxhDGIoFwgIZEC4YgAQYsAMY0QMYQxjHARjIAxiKBdgBAcICGRAuGIAEGLADGEMYxwEYyAMYigUYrwHYAQHCAgsQABiABBiRAhiKBcICCxAuGIAEGMcBGK8BmAMAiAYBkAYRugYGCAEQARgIugYGCAIQARgUkgcFMS42LjGgB_lO&amp;sclient=gws-wiz-serp#:~:text=Main%20results-,Lufthansa%20Technik%20Middle%20East,https%3A\/\/www.lufthansa%2Dtechnik.com%20%E2%80%BA%20lht%2Dmiddle%2Deast,-Our%20team%20of\" style=\"\" rel=\"noopener\">Lufthansa Technik Middle East<\/a> (LTME) have collaborated to repair several aircraft parts made from composite materials, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3dpccf-strata-lufthansa-technik-collaborate-aircraft\" style=\"\" rel=\"noopener\">Wam<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Sharjah Airport\u2019s business aviation infrastructure gets an upgrade: <\/strong>British aviation company Gama Aviation completed the construction of a 36k sqm parking apron for its Sharjah Business Aviation Center at Sharjah International Airport, it said in a <a target=\"_blank\" href=\"https:\/\/www.gamaaviation.com\/news\/business-aviation\/business-aviation-centre\/\" style=\"\" rel=\"noopener\">statement<\/a>. The center will also feature a 14k sqm air-conditioned premium hangar, discreet VVIP terminal, aircraft connectivity for owners and flight crew, and enhanced in-house maintenance, repair, and operations capabilities once live in 2Q 2025.<\/p>\n<p class=\"tag-border-left\">FINANCE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi Global Market (ADGM) wrapped up a series of roadshows in Europe<\/strong>, participating in events including the 2024 IIF European Summit in Paris and the JP Morgan Global Markets Conference, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/adgm-successfully-concludes-a-series-of-roadshows-in-the-european-region-a2lmliua\" style=\"\" rel=\"noopener\">press release<\/a>. ADGM representatives conducted over 100 meetings with senior figures in private banking, wealth management, and hedge funds across France, Switzerland, and other European finance centers. <\/p>\n<p class=\"tag-border-left\">ENERGY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gulf Oil Middle East opened its 15th Gulf Express Service Centre in Ras Al Khaimah<\/strong>, further expanding its presence in the Northern Emirates, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/gulf-oil-strengthens-presence-in-uae-with-new-15th-gulf-express-in-ras-al-khaimah-wnz0pgk0\" style=\"\" rel=\"noopener\">press release<\/a>. Gulf Express provides a convenient drive-through service for quick oil changes and vehicle maintenance.<\/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\/adx\/\">ADX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/aviation\/\">Aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai-taxi-company\/\">Dubai Taxi Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/entrepreneurship\/\">Entrepreneurship<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/environment\/\">environment<\/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\/lunate-capital\/\">Lunate Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/minerals\/\">minerals<\/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=\"92551\" 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=\"92551\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/30\/is-aramco-pulling-the-trigger-on-its-secondary-offering-today\/\">\r\n                            Is Aramco pulling the trigger on its secondary offering today?                        <\/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\/30\/is-aramco-pulling-the-trigger-on-its-secondary-offering-today\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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alt=\"\" data-attachment-id=\"92552\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/30\/is-aramco-pulling-the-trigger-on-its-secondary-offering-today\/2262-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2262.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2262.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2262.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2262.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92551\" class=\"content-area-description single-story post-92551 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-aramco tag-enterpriseam-uae tag-financial-markets tag-planet-finance tag-saudi-arabia 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\/.5e72f6d3-fb3c-4270-90d4-24b75dd1fa14.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Aramco looks ready to pull the trigger any moment now on <\/strong><strong>blockbuster secondary sale. <\/strong>The <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/energy-oil\/saudi-arabia-to-raise-10-billion-to-20-billion-in-fresh-aramco-stock-sale-e8e70ba8\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> expects the oil giant to go ahead with a USD 10-20 bn sale \u201cas soon as this week\u201d while <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-29\/saudi-arabia-set-to-launch-10-billion-aramco-share-sale-sunday\" style=\"\" rel=\"noopener\">Bloomberg<\/a> claims that it will be a USD 10 bn sale and that the formal launch of the transaction will come on Sunday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The prospect of a sale has already attracted \u201cinformal interest\u201d from investors<\/strong>, Bloomberg notes. Aramco will <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/e07c7da8-cdae-4c02-8d5a-33637252b1b9\/aramco-reports-lower-net-income-in-1q-2024,-but-looks-on-track-to-boost-this-year%25e2%2580%2599s-dividend\" style=\"\" rel=\"noopener\">boost its dividend this year by as much as 30%<\/a> over 2023 thanks to a performance-based payout despite a 14% year-on-year drop in net income in 1Q 2024, making the company an attractive dividend play. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The oil giant\u2019s shares + Tadawul are down ahead of the offering:<\/strong> A strong pipeline of IPOs and expectations that the Aramco sale will absorb market liquidity has seen Tadawul investors <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-21\/saudi-stocks-trail-emerging-peers-for-first-time-since-pandemic\" style=\"\" rel=\"noopener\">holding onto cash<\/a> for fresh paper. Less liquidity in the market coupled with expectations that Opec+ will extend voluntary oil cuts when it meets next week pushed Aramco\u2019s shares to their lowest level in over a year, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-29\/aramco-shares-slide-as-output-curbs-secondary-offering-weigh\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported. Aramco shares are down just about 12% YTD, closing at SAR 29.05 yesterday, which is below its 2019 offering price of SAR 32.00. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What the pundits are saying: <\/strong>\u201cSaudi Aramco\u2019s share price has been under pressure from an oil production level that is limited around 9 mn barrels a day due to the ongoing OPEC+ cuts,\u201d said Salih Yilmaz, senior industry analyst at Bloomberg Intelligence. \u201cIt continues to demand a higher price-to-earnings valuation versus international oil major peers.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND-<\/strong> Reuters reported <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/7f34631d-7f0c-4e11-9474-e110bc43a409\" style=\"\" rel=\"noopener\">last week<\/a> that Aramco could proceed with the sale in June, with the newswire seeing the oil giant put on a full roadshow to market the offering rather than doing an accelerated book build. The PIF <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/27c8534c-1cc4-40c9-a7c7-061f695a9404\" style=\"\" rel=\"noopener\">increased its stake<\/a> in Aramco to 16% in March as news of the potential sale surfaced. If the offering goes ahead, it would be <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/81c6ecf1-ebc3-4486-be2c-6eb62e899662\" style=\"\" rel=\"noopener\">one of the world\u2019s largest offerings<\/a> in recent years. Aramco raised USD 29.4 bn on Tadawul in 2019 in what remains the biggest IPO in history.<\/p>\n<p class=\"tag-border-left\"> ALSO WORTH NOTING FROM PLANET FINANCE-<\/p>\n<ul>\n<li><strong>The International Monetary Fund sees China\u2019s economy growing 5% this year<\/strong>, up from its previous forecast of 4.6% growth for the world\u2019s second largest economy. However, the Fund warned that growth would slow to 4.5% next year, and to 3.3% by 2029 due to \u201can aging population and slower expansion in productivity.\u201d (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/china\/imf-upgrades-chinas-2024-2025-gdp-growth-forecasts-after-strong-q1-2024-05-29\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/li>\n<li><strong>All 82 economists in a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/rates-bonds\/june-ecb-rate-cut-done-deal-majority-expects-cuts-sept-dec-too-2024-05-29\/\" style=\"\" rel=\"noopener\">Reuters<\/a><\/strong><strong> poll see the European Central Bank cutting interest rates in<\/strong><strong> June<\/strong>, with a majority also forecasting further cuts in September and December. <\/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>A <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/7fe47b5c-c6e5-42f8-8faa-9bc6305027a5\" style=\"\" rel=\"noopener\">global bond selloff yesterday<\/a><\/strong><strong> saw investors dump equities as jitters set in<\/strong>, with stocks in the US, UK, and Europe closing the day in the red. Asian markets are playing catch-up this morning, with all major benchmarks in negative territory (led by the Nikkei\u2019s nearly 1.7% dip at dispatch time). <strong>US and European stock futures are down sharply this morning<\/strong> after yesterday\u2019s selldown and Salesforce\u2019s downbeat forecast. Revenue at the software giant fell short of Wall Street expectations for the <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/05\/29\/salesforce-crm-q1-earnings-report-2025.html\" style=\"\" rel=\"noopener\">first time since 2006<\/a>.<\/p>\n<p><a target=\"_blank\" id=\"t.d70410199a2ea79019ff13ec2241e17919703217\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p>\n<div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,711<\/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: -9.1%)<\/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>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\">3,960<\/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: -2.5%)<\/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\">3,290<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.1% (YTD: -14.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : AED<\/strong><strong> CBUAE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 3.67<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 3.67<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EIBOR<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.1% o\/n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.4% 1 yr<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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>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\">11,697<\/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: -2.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27,090<\/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: +8.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,266<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7% (YTD: +10.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,183<\/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: +5.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,963<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.3% (YTD: 9.8%)<\/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>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 83.60<\/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-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 2.49<\/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\">-3.8%<\/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>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 2,360<\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 67,635<\/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: +60.0%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The DFM fell 0.7% yesterday<\/strong> on turnover of AED 723.2 mn. The index is down 2.5% 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>Drake &amp; Scull International (+24.0%), Salik (+2.9%) and Watania International Holding (+2.7%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Agility(-9.9%), Union Properties (-3.7%) and Al Firdous Holdings (-3.3%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over on the ADX<\/strong>, the index fell 0.4% on turnover of AED 1.1 bn. Meanwhile Nasdaq Dubai closed down 1.1%.<\/p>\n<p class=\"tag-border-left\"> CORPORATE ACTIONS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Agility\u2019s board approved a dividend payout of 10 fils per share for 2023, <\/strong>equivalent to 10% of its share capital, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2457.pdf\" style=\"\" rel=\"noopener\">DFM disclosure (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WATCH THIS SPACE- Agility will issue fresh shares for its employee stock ownership plan (ESOP) <\/strong>after obtaining regulatory approval. The ESOP will be under 10% of the company\u2019s total capital within a decade from its implementation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bahrain\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/gfh.com\/\" style=\"\" rel=\"noopener\">GFH<\/a><\/strong><strong> was granted approval by the Central Bank of Bahrain to kick off a share <\/strong><strong>repurchase program<\/strong>, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2516.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>. The company is set to commence the buyback today, aiming to acquire a maximum of 10% of the group's total issued shares.<\/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\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/saudi-arabia\/\">Saudi Arabia<\/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=\"92553\" 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=\"92553\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/30\/uae-diplomats-address-recent-gaza-attacks\/\">\r\n                            UAE diplomats address recent Gaza attacks                        <\/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\/30\/uae-diplomats-address-recent-gaza-attacks\/\" 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\/30\/uae-diplomats-address-recent-gaza-attacks\/')\">\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\/30\/uae-diplomats-address-recent-gaza-attacks\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=UAE diplomats address recent Gaza attacks&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/30\/uae-diplomats-address-recent-gaza-attacks\/\">\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\/30\/uae-diplomats-address-recent-gaza-attacks\/&title=UAE diplomats address recent Gaza attacks\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=UAE+diplomats+address+recent+Gaza+attacks+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F30%2Fuae-diplomats-address-recent-gaza-attacks%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\/30\/uae-diplomats-address-recent-gaza-attacks\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2543.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92554\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/30\/uae-diplomats-address-recent-gaza-attacks\/2543-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2543.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2543.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2543.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2543.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92553\" class=\"content-area-description single-story post-92553 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-china tag-diplomacy tag-enterpriseam-uae tag-gaza tag-israel tag-serbia 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\/.d303af34-dd19-4703-9904-fffb8bf64df2.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emirati diplomat Anwar Gargash condemned Israel\u2019s violence against Gaza civilians<\/strong>, saying it \u201chas taken brutal and inhuman dimensions\u201d at the Arab Media Forum in Dubai, <a target=\"_blank\" href=\"https:\/\/gulfnews.com\/uae\/government\/uae-calls-for-clear-roadmap-to-resolve-gaza-conflict-gargash-1.1716974020882\" style=\"\" rel=\"noopener\">Gulf News<\/a> reports. He condemned the attacks on Gaza and Rafah, citing displacement tactics and attacks on designated safe zones, and said the \u201cheinous attack\u2026 cannot be overlooked by the world.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE\u2019s Assistant Minister for Political Affairs also called for an immediate ceasefire, <\/strong><strong>humanitarian access, and the release of hostages<\/strong> at the EU\u2019s Foreign Affairs Council meeting on Monday in Brussels, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b3easi9-uae-calls-for-cease-fire-humanitarian-access-gaza\" style=\"\" rel=\"noopener\">Wam<\/a> reported. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Director-General of the National Media Office, Jamal Al Kaabi, led the UAE delegation at<\/strong><strong> the 54th Council of Arab Ministers of Information in Manama<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/ar\/article\/b3eas3w-jamal-kaabi-heads-uae-delegation-54th-session\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The session focused on enhancing Arab media cooperation amid global challenges, with discussions centered around regional and global challenges affecting the media, empowering Arab women in media, strategies against misinformation, and the situation in Palestine. <\/p>\n<p class=\"tag-border-left\">OTHER DIPLOMACY NEWS-<\/p>\n<ul>\n<li><strong>Interior Minister <\/strong>Saif bin Zayed Al Nahyan<strong> met Serbian Vice President for <\/strong><strong>National Security<\/strong> Aleksandar Volin in Abu Dhabi to <strong>discuss boosting cooperation <\/strong>in the fields of <strong>police <\/strong>and <strong>security<\/strong>. (<a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3dpcqz-saif-bin-zayed-meets-serbias-vice-president-for\" style=\"\" rel=\"noopener\">Wam<\/a>)<\/li>\n<li><strong>Education Minister <\/strong>Ahmad Belhoul Al Falasi met with several<strong> Chinese <\/strong><strong>university leaders and deans<\/strong> during his last visit to China. The meeting focused on <strong>advancing joint scientific research<\/strong> and <strong>expanding student exchange programs<\/strong> and scholarships for Emirati students. (<a target=\"_blank\" href=\"https:\/\/x.com\/ahmad_belhoul\/status\/1795454644065321204\" style=\"\" rel=\"noopener\">Statement<\/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\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/gaza\/\">Gaza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/serbia\/\">Serbia<\/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=\"92555\" 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\/30\/92555-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92555\" class=\"content-area-description single-story post-92555 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">MAY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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;\">3-7 June (Monday-Friday): Dubai International Chamber\u2019s trade mission to Senegal and Morocco. <\/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>Five taps banks for IPO | Mashreq to issue AT1 bonds | Drake &#038; Scull back on the 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