{"id":92578,"date":"2024-05-31T00:00:00","date_gmt":"2024-05-31T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=92578"},"modified":"2025-12-15T00:30:26","modified_gmt":"2025-12-15T00:30:26","slug":"more-on-dubais-aed-40-bn-ppps","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/more-on-dubais-aed-40-bn-ppps\/","title":{"rendered":"More on Dubai\u2019s AED 40 bn PPPs"},"content":{"rendered":"<section id=\"92580\" 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=\"92580\">\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\/31\/vehicle-insurers-to-hike-premiums-on-the-back-of-the-storm-president-to-attend-g7-meeting-in-june\/\">\r\n                            THIS MORNING: Vehicle insurers to hike premiums on the back of the storm + President to attend G7 meeting in June                        <\/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\/31\/vehicle-insurers-to-hike-premiums-on-the-back-of-the-storm-president-to-attend-g7-meeting-in-june\/\" 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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Let\u2019s dive in.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- It\u2019s another foggy morning in Dubai <\/strong>as we gear up for a high of 42\u00b0C and a sweltering 44\u00b0C tomorrow, with overnight lows ranging between 30-31\u00b0C. <strong>Abu Dhabi <\/strong>is still a lot cooler with a high of 37\u00b0C today and 34\u00b0C tomorrow. <\/p>\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>#1- Vehicle ins. premiums to see double-digit hikes: <\/strong>Vehicle owners will encounter double-digit hikes in motor ins. premiums as insurers introduce dynamic pricing based on how specific vehicle models performed during the floods and shift towards no agency repair options, <a target=\"_blank\" href=\"https:\/\/gulfnews.com\/business\/banking\/uae-car-owners-get-hit-with-20-50-insurance-premium-hikes---and-even-removal-of-agency-repairs-1.1717041542299\" style=\"\" rel=\"noopener\">Gulf News<\/a> reports. InsuranceMarket.ae CEO Avinash Babur warns of average premium hikes of 20-25%, primarily driven by reinsurer pressure, affecting all major car models, including SUVs, in upcoming renewals.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fleet vehicles are set to see ins. rates <\/strong><strong>climb<\/strong><strong> by 40-50%<\/strong> on the back of post-flood damage, with individual car owners facing hikes of 35-40%, especially pronounced in the secondhand market where rates have soared over 55%, an unnamed official at an ins. brokerage firm said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Potential 2Q losses loom over ins. firms<\/strong> due to the surge in claims and financial strain on ins. companies, particularly those with weaker capital positions, <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/markets\/equities\/analysis-listed-uae-insurance-firms-can-expect-major-q2-losses-post-floods-rlwh1g6c\" style=\"\" rel=\"noopener\">Zawya<\/a> reports. The deluge has prompted stock price declines across most insurers, with Dubai National Ins. experiencing a 27% drop and Abu Dhabi National Takaful experiencing a 20% drop, according to Century Financial Chief Investment Officer Vijay Valecha. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- HSBC is making a play in the private banking space<\/strong>, having hired 100 bankers last year for a push to \u201ccater to the growing number of mn\u2019aires and bn\u2019aires moving to the Middle East,\u201d <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-29\/hsbc-is-making-a-mideast-wealth-push-after-hiring-100-bankers\" style=\"\" rel=\"noopener\">Bloomberg<\/a> writes, citing comments by <a target=\"_blank\" href=\"https:\/\/www.privatebanking.hsbc.com\/about-us\/media-releases-and-news\/hsbc-global-private-banking-announces-leadership-transition\/\" style=\"\" rel=\"noopener\">Aladdin Hangari<\/a>, who leads HSBC\u2019s private banking push in our part of the world. Hangari namechecked the UAE, along with Saudi Arabia and Qatar, as areas of focus. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a><strong> #3- President Sheikh Mohamed bin Zayed Al Nahyan is attending the G7 summit in <\/strong><strong>Italy next month<\/strong>, alongside his Turkish counterpart Tayyip Erdogan and several other African and South American leaders, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/turkeys-erdogan-attend-italy-g7-summit-perhaps-also-bin-salman-2024-05-29\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, quoting the Rome government. Saudi Arabia's Crown Prince and Prime Minister Mohamed bin Salman could also be among those invited to attend the 13-15 June summit in Puglia, as the G7 looks to broaden the gathering beyond the US, UK, Canada, France, Germany, Japan, and Italy, to boost inclusivity, the newswire adds, citing an unnamed source.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"background-color: transparent;\">HAPPENING NEXT WEEK-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- 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>#2- S&amp;P Global will publish PMI figures for May next Wednesday.<\/strong> The non-oil sector continued to expand in April, though at a slightly slower pace due to the impacts of the storm. <\/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\"><a id=\"wwtt3\"><\/a><strong> One single story captivates the attention of the foreign press this morning: <\/strong>Donald Trump is now the first US president in history to be a convicted felon, after being found guilty on all charges in the hush-money case. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sentencing is set for 11 July<\/strong>, only days before the Republican party is expected to hand in its formal nomination of Trump ahead of the elections. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Is he going to prison?<\/strong> In short, probably not \u2014 experts do not expect him to face prison time. The normal sentencing for his crime is up to four years, but people charged with the felony of falsifying business records rarely face prison time, and his age and lack of a criminal record also boost his chances. His team is also expected to appeal the verdict, a process which can take months, <a target=\"_blank\" href=\"https:\/\/www.politico.com\/news\/2024\/05\/30\/trump-guilty-verdict-whats-next-00160814\" style=\"\" rel=\"noopener\">Politico<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The story is on all the front pages: <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-30\/trump-jury-says-it-has-reached-a-verdict-in-hush-money-case?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a><\/strong><strong> | <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/legal\/jurors-begin-second-day-deliberations-trump-hush-money-trial-2024-05-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a><\/strong><strong> | <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/us-news\/law\/donald-trump-convicted-87a4e465\" style=\"\" rel=\"noopener\">WSJ<\/a><\/strong><strong> | <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/fce3443a-289a-4672-846e-7d7a7232d2f1\" style=\"\" rel=\"noopener\">FT<\/a><\/strong><strong> | <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/politics\/2024\/05\/30\/trump-hush-money-trial-live-updates-jury-deliberations\/\" style=\"\" rel=\"noopener\">Washington Post<\/a><\/strong> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Can he still run for president? <\/strong>Yes, he is legally still able to campaign as a convicted felon, even if he is incarcerated. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also putting the US in headlines<\/strong>: A <a target=\"_blank\" href=\"https:\/\/www.politico.com\/news\/2024\/05\/30\/biden-ukraine-weapons-strike-russia-00160731\" style=\"\" rel=\"noopener\">Politico<\/a> exclusive claims the Biden administration has allowed Ukraine to strike inside Russia using US weapons \u2014 near the area of Kharkiv \u2014 in self-defense in a development that threatens to see more US involvement in the war. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN AI NEWS- Is the US slowing AI exports to the Middle East? <\/strong>US officials are reportedly conducting a \u201cnational review\u201d of AI security in the Middle East ahead of issuing more licenses to chipmakers including Nvidia and Advanced Micro Devices to export more large-scale AI infrastructure to the region, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-30\/us-officials-rein-in-ai-chip-sales-to-middle-east-by-nvidia-amd?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. While the details of the review are not clear, sources say that Washington is looking to develop a \u201ccomprehensive strategy\u201d around the deployment of US chips overseas and managing their security, amid rising tensions with China. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The good news?<\/strong> Cooperation with the UAE on AI export controls is going well, one of the sources said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- The UAE is in line for big AI investments and exports from the US. <\/strong>Microsoft is investing some <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/0cc78916-0227-4247-b601-f1bf74f38c73\/microsoft-pumps-usd-1.5-bn-into-abu-dhabi%25e2%2580%2599s%253cmark%253e-g42%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">USD 1.5 bn<\/a> in G42 to position the UAE as a \u201cglobal AI hub,\u201d and a \u201csecond phase\u201d of the agreement could see the US tech giant <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f9598e97-f1b7-4b58-acf6-7e1d4881c1bb\/g42-could-get-crucial-ai-infrastructure-from%253cmark%253e-microsoft%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">exporting<\/a> large-scale AI components from the US to the UAE, which will require licenses, we reported earlier. G42 has already cut ties with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/edition\/am\/45bff422-6aef-41f5-bd13-0fce03beb4d9\/Real-estate-market-growth-will-be-driven-by-expats-%2B-HNWI,-Markaz-suggests\" style=\"\" rel=\"noopener\">Chinese businesses<\/a> in a bid to reportedly appease US partners, and there were suggestions it could also give up its use of Huawei telecom equipment.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO HAPPENING CLOSE TO HOME-<\/strong> <strong>Aramco is pulling the trigger on a secondary sale <\/strong><strong>of a 0.64% stake that could raise up to USD 12 bn <\/strong>on Sunday, it confirmed in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2592.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> yesterday. The oil giant set the price range between SAR 26.70 and 29 per share. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The value of the sale could go up to USD 13.1 bn<\/strong> at the top end of the range under a \u201cgreenshoe option\u201d which could see the size of the offering go up to a 0.7% stake if fully exercised, according to the statement. The option would allow bankers to buy some of the shares to stabilize the price of the offering. The book building period will last until 6 June, the statement added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A way to boost liquidity\u2026:<\/strong> \u201cThe offering provides us with an opportunity to broaden the shareholder base amongst both Saudi and international investors,\u201d Reuters quotes Aramco CRO Amin Nasser as telling reporters on a call after the announcement. \u201cIt also offers us an opportunity to increase liquidity and to increase our global index weighting.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u2026and plug the budget deficit: <\/strong>The Kingdom is \u201cresorting to the sale of equity in Aramco and to debt issuances,\u201d Nasser is quoted as saying, citing its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c5874637-e06c-4fdb-85fb-993a680d24b6\/a-brighter-outlook\" style=\"\" rel=\"noopener\">USD 21 bn budget deficit<\/a> and its missed FDI target. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Opec+ is reportedly working on a \u201ccomplex\u201d agreement to extend oil supply cuts through to the end of the year <\/strong>\u2014 and maybe next year \u2014 while agreeing to individual output capacity, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/opec-working-complex-oil-cut-extension-deal-2024-2025-sources-say-2024-05-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports ahead of the cartel\u2019s Sunday meeting. <\/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>Abu Dhabi will play host to a big night for mixed martial arts fans on 3 August at<\/strong><strong> Etihad arena.<\/strong> The UFC Fight Night will see the return of MMA champion Nick Diaz, who has been out of the limelight since 2021, as he goes head to head with Tony Ferguson, UFC CEO Dana White <a target=\"_blank\" href=\"https:\/\/x.com\/danawhite\/status\/1795829069826969707?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1795829069826969707%7Ctwgr%5Ed7caa32e6f719af21228409c5b47929114bbf3cf%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.thenationalnews.com%2Fsport%2Fcombat-sports%2F2024%2F05%2F30%2Fnick-diaz-and-tony-ferguson-added-to-ufc-fight-night-abu-dhabi-card%2F\" style=\"\" rel=\"noopener\">said<\/a>. <strong>Also set to clash: <\/strong>Former flyweight champion Deiveson Figueiredo will face bantamweight title challenger Marlon Vera, while world number 2 bantamweight contender Cory Sandhagen will headline against Umar Nurmagomedov.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The International <\/strong><strong>S<\/strong><strong>ports Medicine Conference is set to take place from 24-27 October<\/strong> in Dubai, <a target=\"_blank\" href=\"https:\/\/wam.ae\/ar\/article\/b3evzla-%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D8%AA%D8%B3%D8%AA%D8%B6%D9%8A%D9%81-%D8%A7%D9%84%D9%85%D8%A4%D8%AA%D9%85%D8%B1-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A-%D9%84%D9%84%D8%B7%D8%A8-%D8%A7%D9%84%D8%B1%D9%8A%D8%A7%D8%B6%D9%8A-%D8%A3%D9%83%D8%AA%D9%88%D8%A8%D8%B1\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The event, which is being organized by the UAE National Olympic Committee, Emirates Society for Sports and Rehabilitation Medicine, and the Emirates Physical Therapy Association, aims to highlight the latest developments in sports medicine.<\/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\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/hsbc\/\">HSBC<\/a>\n                <!-- <span 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publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n    <div class=\"issue-sponsor-slides-div\">\r\n        \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/43010.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.mashreq.com\/en\/uae\/neo\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/20607.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Rise every day<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img 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id=\"92583\">\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\">PRIVATIZATION WATCH-<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/31\/more-details-on-dubais-aed-40-bn-ppps\/\">\r\n                            More details on Dubai\u2019s AED 40 bn PPPs                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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data-attachment-id=\"92584\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/31\/more-details-on-dubais-aed-40-bn-ppps\/1218-jpg-4\/\" 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-92583\" class=\"content-area-description single-story post-92583 post type-post status-publish format-standard has-post-thumbnail hentry category-privatization-watch-2 tag-dubai tag-enterpriseam-uae tag-infrastructure tag-privatization 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\/.9581728c-082d-4ea5-babe-b3311b09a956.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>39 PPPs up for grabs in Dubai: <\/strong>The Dubai government\u2019s Department of Finance will offer up 39 projects worth AED 40 bn as public-private partnership projects (PPPs), <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/afce82f0-911c-4204-b840-fc95a5cfa51d\/dubai-approves-aed-40-bn-ppps\" style=\"\" rel=\"noopener\">Wam<\/a> reported yesterday, citing Arif Abdulrahman Ahli, the executive Director of the budget and planning division. Slated for development over the next three years, the PPPs will span ten sectors, including water and sanitation, waste management, housing, healthcare, and public transportation, geared towards improving the quality of life in the emirate, Ahli said. <\/p>\n<p dir=\"ltr\" style=\"line-height:1.38;margin-top:0pt;margin-bottom:0pt;\"><strong style=\"background-color: transparent;\">Background: <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/afce82f0-911c-4204-b840-fc95a5cfa51d\/dubai-approves-aed-40-bn-ppps#:~:text=%231%2D%20Dubai%20has,disclosing%20further%20details.\" rel=\"noopener\">Last March<\/a><span style=\"background-color: transparent;\">, Dubai greenlit the AED 40 bn PPP projects, covering \u201cten fundamental economic sectors.\u201d The projects received approval during the first meeting of Dubai Executive Council since its re-establishment.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown: <\/strong><\/p>\n<ul>\n<li>Some <strong>AED 25.5 bn<\/strong> of the projects will be focused on the <strong>water and sanitation sector<\/strong>;<\/li>\n<li><strong>AED 5.3 bn <\/strong>of the projects will be in the<strong> waste management<\/strong> sector;<\/li>\n<li>Projects for the <strong>arts and culture<\/strong> sector will have a budget of <strong>AED 2.8 bn;<\/strong><\/li>\n<li><strong>AED 2.3 bn<\/strong> has been earmarked for <strong>housing<\/strong> projects;<\/li>\n<li><strong>AED 1.5 bn<\/strong> was earmarked for the <strong>healthcare<\/strong> sector;<\/li>\n<li><strong>Public transportation and urban development<\/strong> will have a total budget of <strong>AED 1.5 bn<\/strong>;<\/li>\n<li><strong>AED 648 mn<\/strong> will be allocated to roads and parking facilities;<\/li>\n<li>and <strong>AED 540 mn<\/strong> will go towards public amenities, gardens, and services. <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DP3 to oversee the projects: <\/strong>The department has set up a platform for tracking and managing the PPP projects, dubbed <a target=\"_blank\" href=\"https:\/\/mediaoffice.ae\/en\/news\/2023\/October\/18-10\/DOF-launches-innovative-Digital-Platform-to-manage-Public-Private-Partnerships\" style=\"\" rel=\"noopener\">DP3<\/a>. The platform will monitor the progress of the projects from initial planning and scheduling to their completion and the commencement of operations, Ahli said. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai\/\">Dubai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/privatization\/\">Privatization<\/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=\"92585\" 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=\"92585\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/31\/uae-economy-to-be-a-top-performer-in-the-gcc-this-year-world-bank\/\">\r\n                            UAE economy to be a \u201ctop performer\u201d in the GCC this year \u2013World Bank                        <\/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\/31\/uae-economy-to-be-a-top-performer-in-the-gcc-this-year-world-bank\/\" 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\/31\/uae-economy-to-be-a-top-performer-in-the-gcc-this-year-world-bank\/')\">\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\/31\/uae-economy-to-be-a-top-performer-in-the-gcc-this-year-world-bank\/\">\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 economy to be a \u201ctop performer\u201d in the GCC this year \u2013World Bank&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/31\/uae-economy-to-be-a-top-performer-in-the-gcc-this-year-world-bank\/\">\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\/31\/uae-economy-to-be-a-top-performer-in-the-gcc-this-year-world-bank\/&title=UAE economy to be a \u201ctop performer\u201d in the GCC this year \u2013World Bank\">\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+economy+to+be+a+%E2%80%9Ctop+performer%E2%80%9D+in+the+GCC+this+year+%E2%80%93World+Bank+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F31%2Fuae-economy-to-be-a-top-performer-in-the-gcc-this-year-world-bank%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\/31\/uae-economy-to-be-a-top-performer-in-the-gcc-this-year-world-bank\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1528.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92586\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/31\/uae-economy-to-be-a-top-performer-in-the-gcc-this-year-world-bank\/1528-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1528.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1528.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1528.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1528.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92585\" class=\"content-area-description single-story post-92585 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam-uae tag-gcc tag-gdp tag-world-bank 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\/.7fcafd15-7e6a-44e5-b8ca-87fb9c1bebfb.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">The UAE will be the \u201ctop performing\u201d economy among GCC economies this year<\/strong><span style=\"background-color: transparent;\">, with real GDP set to expand 3.9%, up from the 3.1% growth recorded in 2023, according to the World Bank\u2019s latest <\/span><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2561.pdf\" rel=\"noopener\">Gulf Economic Update (pdf)<\/a><span style=\"background-color: transparent;\">. Growth will outpace overall GCC growth, which is expected to come in at 2.8% in 2024 and 4.7% in 2025, according to the World Bank.<\/span><\/p>\n<p dir=\"ltr\" style=\"line-height:1.38;margin-top:0pt;margin-bottom:0pt;\"><strong style=\"background-color: transparent;\">3.1%? <\/strong><span style=\"background-color: transparent;\">Official data from the Federal Competitiveness and Statistics Center had pegged GDP growth at 3.6% last year, with oil GDP falling 3.1% and non-oil growth coming in at 6.2%, slightly different from the World Bank\u2019s figures. According to the World Bank, non-oil GDP rose 5.4%, while oil GDP fell 2.7%.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale: <\/strong>Oil GDP will grow 5.8%, while non-oil GDP is anticipated to grow 3.2%, buoyed by \u201cstrong performance in the tourism, real estate, construction, transportation, and manufacturing sectors,\u201d the World Bank says. Overall GDP is expected to grow on the back of a \u201csignificant oil production hike\u201d in the second half of the year, following a run of supply cuts enforced by Opec+ to stabilize prices. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oil production hike? <\/strong>We know that OPEC+ is holding an online meeting next Sunday, where members of the alliance will discuss oil production output cuts and quotas for the rest of this year, <a target=\"_blank\" href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&amp;id=80f9e0f624&amp;e=8e5fca127e\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. It is widely expected that the cartel will extend output reductions through 2H 2024 to stabilize the market and increase prices, with the decision to hold the meeting online reinforcing the expectation of continued cuts. Still, the UAE has been <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/414680c9-5d56-44ec-9317-72b964f0ab1d\/ihc-is-planning-to-list-daman-ins.-on-the-public-market\" style=\"\" rel=\"noopener\">hoping<\/a> to use up its spare capacity and is on track to hit its 5 mn barrels per day (bbl \/ d) oil capacity target \u2014 originally set for 2027 \u2014 by the end of 2025 or early 2026.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Growth will pick up again next year:<\/strong> The World Bank expects the economy to grow 4.1% next year, rising 0.2 percentage points from the current calendar year on the back of improved oil GDP. Oil output is \u201canticipated to ramp up aggressively\u201d in the GCC in 2025, as Opec+ unwinds supply cuts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government\u2019s fiscal surplus decreased by half to 5.6% of GDP in 2023 <\/strong>on the back of \u201cdecreased oil production as well as a decrease in government revenue from diminished tax and non-tax receipts,\u201d the World Bank said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the upside, it is expected to maintain the highest fiscal surplus among GCC countries <\/strong>this year at 5.1%, on the back of an influx of revenues from the newly introduced 9% corporate tax, the report said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Current account balance-to-GDP ratio came in strong at 9.1% last year <\/strong>\u2014 just a couple notches below the 11.7% that was recorded in 2022, and \u201csupported by rising non-oil exports in tourism and trade service, from enhanced new trade agreements with key Asian and African markets.\u201d<\/p>\n<p class=\"tag-border-left\">STRONGER REGIONAL GROWTH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Growth in the GCC region is expected to pick up pace,<\/strong> with projections increasing from 0.7% in 2023 to 2.8% in 2024 and 4.7% in 2025, according to the World Bank. The region\u2019s oil sector is forecast to grow at a 1.7% clip this year before \u201cramping up aggressively in 2025 to reach 6.9%,\u201d while the non-oil segment is expected to expand by 3.6% in 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Regional conflicts pose a downside risk:<\/strong> \u201cEscalating regional conflicts could undermine investor confidence, disrupt trade, and impede growth,\u201d the World Bank said, adding that \u201ca slower-than-expected recovery in China may reduce oil prices and demand, adversely affecting both oil and non-oil sectors.\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\/economy\/\">Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/gcc\/\">GCC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/world-bank\/\">World Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92587 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=\"92587\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/31\/92587-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92587\" class=\"content-area-description single-story post-92587 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=\"92588\" 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=\"92588\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/31\/electra-gets-regulatory-greenlight-to-acquire-egypts-elsewedy-electric\/\">\r\n                            Electra gets regulatory greenlight to acquire Egypt\u2019s Elsewedy Electric                        <\/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\/31\/electra-gets-regulatory-greenlight-to-acquire-egypts-elsewedy-electric\/\" 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\/31\/electra-gets-regulatory-greenlight-to-acquire-egypts-elsewedy-electric\/')\">\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\/31\/electra-gets-regulatory-greenlight-to-acquire-egypts-elsewedy-electric\/\">\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=Electra gets regulatory greenlight to acquire Egypt\u2019s Elsewedy Electric&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/31\/electra-gets-regulatory-greenlight-to-acquire-egypts-elsewedy-electric\/\">\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\/31\/electra-gets-regulatory-greenlight-to-acquire-egypts-elsewedy-electric\/&title=Electra gets regulatory greenlight to acquire Egypt\u2019s Elsewedy Electric\">\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=Electra+gets+regulatory+greenlight+to+acquire+Egypt%E2%80%99s+Elsewedy+Electric+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F31%2Felectra-gets-regulatory-greenlight-to-acquire-egypts-elsewedy-electric%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\/31\/electra-gets-regulatory-greenlight-to-acquire-egypts-elsewedy-electric\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1213.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92589\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/31\/electra-gets-regulatory-greenlight-to-acquire-egypts-elsewedy-electric\/1213-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1213.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1213.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1213.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1213.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92588\" class=\"content-area-description single-story post-92588 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-egypt tag-ma tag-ma-watch tag-manufacturing 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\/.4b0addde-56de-4122-bd1d-6dc5e97b0840.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Abu Dhabi-based electrical equipment manufacturer <\/strong><strong><a target=\"_blank\" href=\"https:\/\/electra.ae\/\" style=\"\" rel=\"noopener\">Electra Investment<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/electra.ae\/\" style=\"\" rel=\"noopener\">Holding<\/a><\/strong> <strong> has gotten the regulatory nod to acquire a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a5eebed8-d7b1-4f48-ba71-51575a76f4b0\/uae%25e2%2580%2599s-electra-eyes-up-to-24.5%2525-of-elsewedy-electric\" style=\"\" rel=\"noopener\">24.5% stake<\/a><\/strong><strong> in Egypt\u2019s Elsewedy Electric<\/strong> from Egypt\u2019s Financial Regulatory Authority yesterday, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2574.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> from the authority. Electra will pay USD 1.05 a pop \u2014 marking a premium to Elsewedy Electric\u2019s Wednesday share price of EGP 44.3, and giving the transaction a value of USD 560 mn.<\/p>\n<p dir=\"ltr\" style=\"line-height:1.38;margin-top:0pt;margin-bottom:0pt;\"><strong style=\"background-color: transparent;\">What\u2019s next? <\/strong><span style=\"background-color: transparent;\">Elsewedy Electric will need to tap a financial advisor and clarify the board\u2019s decision within the next 15 days, according to the statement. The share sale will be conducted via the special operations market (OPR) within the next 20 days.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Electra submitted a voluntary purchase offer for up to a 24.5% stake in Elsewedy Electric <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/80b259d7-ce3f-491f-9760-bd25319d4c77\/redbird-imi-completes-acquisition-of-uk-based-all3media\" style=\"\" rel=\"noopener\">last week<\/a>, with the intention of acquiring at least 15% of the company for USD 1.05 per share. The Elsewedy family currently holds over 68% of the company\u2019s shares.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors: <\/strong>EFG Hermes is Electra\u2019s sole financial advisor for the transaction, an informed source told Enterprise.<\/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\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma\/\">M&amp;A<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/manufacturing\/\">MANUFACTURING<\/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=\"92590\" 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=\"92590\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/31\/rak-white-cement-gives-nod-to-ultratechs-stake-acquisition-bid\/\">\r\n                            Rak White Cement gives nod to Ultratech\u2019s stake acquisition bid                        <\/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\/31\/rak-white-cement-gives-nod-to-ultratechs-stake-acquisition-bid\/\" 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\/31\/rak-white-cement-gives-nod-to-ultratechs-stake-acquisition-bid\/')\">\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\/31\/rak-white-cement-gives-nod-to-ultratechs-stake-acquisition-bid\/\">\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=Rak White Cement gives nod to Ultratech\u2019s stake acquisition bid&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/31\/rak-white-cement-gives-nod-to-ultratechs-stake-acquisition-bid\/\">\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\/31\/rak-white-cement-gives-nod-to-ultratechs-stake-acquisition-bid\/&title=Rak White Cement gives nod to Ultratech\u2019s stake acquisition bid\">\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=Rak+White+Cement+gives+nod+to+Ultratech%E2%80%99s+stake+acquisition+bid+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F31%2Frak-white-cement-gives-nod-to-ultratechs-stake-acquisition-bid%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\/31\/rak-white-cement-gives-nod-to-ultratechs-stake-acquisition-bid\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2253.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92591\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/31\/rak-white-cement-gives-nod-to-ultratechs-stake-acquisition-bid\/2253-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2253.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2253.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2253.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2253.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92590\" class=\"content-area-description single-story post-92590 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-enterpriseam-uae tag-ma tag-ma-watch tag-manufacturing tag-ras-al-khaimah-co-for-white-cement 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\/.b4958df9-548c-40f7-9959-d697bca24876.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong><a target=\"_blank\" href=\"http:\/\/www.rakwhitecement.ae\/\" style=\"\" rel=\"noopener\">Ras Al Khaimah Co for White Cement<\/a><\/strong><strong> will proceed with the regulatory procedures <\/strong><strong>for Ultratech\u2019s bid to acquire a 31.6% stake in the company <\/strong>after its board of directors reviewed the offer, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2558.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>. The Indian cement manufacturer had earlier this week <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/fe17f57f-53d9-4ba7-8cd2-dac521164aae\/%253cmark%253eultratech%253c%2Fmark%253e-to-ramp-up-stake-in-rak-cement\" style=\"\" rel=\"noopener\">offered<\/a> to purchase around 158 mn shares at AED 1.15 per share through its UAE-based subsidiary, UltraTech Cement Middle East Investments. <\/p>\n<p dir=\"ltr\" style=\"margin-top: 0pt; margin-bottom: 0pt; line-height: 1.38;\"><strong style=\"background-color: transparent;\">Remember:<\/strong><span style=\"background-color: transparent;\"> UltraTech intends to expand the cement manufacturer\u2019s operations locally and globally, and to introduce new products to Rak Cement\u2019s production portfolio, such as wall care putty. UltraTech acquired a 29.39% stake in Rak Cement for USD 101 mn in 2022.<\/span><\/p>\n<p class=\"tag-border-left\">OTHER M&amp;A NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The National Investor to offload AED 24 mn asset:<\/strong> Abu Dhabi-based The National Investor plans to sell an office floor situated in Reem Island to a subsidiary of <a target=\"_blank\" href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-100-arab-family-businesses-in-the-middle-east-2021\/mazrui-international\/\" style=\"\" rel=\"noopener\">one of its shareholders<\/a>, Mazrui Real Estate, for AED 24 mn, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2584.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a>. The asset\u2019s book value is AED 28.7 bn, representing 10.1% of the company\u2019s total share capital. The transaction is expected to be closed during 3Q 2024, subject to receiving shareholders\u2019 approval. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma\/\">M&amp;A<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/manufacturing\/\">MANUFACTURING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ras-al-khaimah-co-for-white-cement\/\">Ras Al Khaimah Co for White Cement<\/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=\"92592\" 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=\"92592\">\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\">Banking<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/31\/credit-demand-remained-robust-in-1q-2024-cbuae\/\">\r\n                            Credit demand remained robust in 1Q 2024 -CBUAE                        <\/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\/31\/credit-demand-remained-robust-in-1q-2024-cbuae\/\" 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 results \u2014 based on responses from 311 respondents representing licensed financial institutions in Abu Dhabi and the northern emirates \u2014 indicate a continuing trend of strong credit activity. <\/p>\n<p dir=\"ltr\" style=\"margin-top: 0pt; margin-bottom: 0pt; line-height: 1.38;\"><strong style=\"background-color: transparent;\">The impact of higher interest rates is \u201cdiminishing\u201d <\/strong><span style=\"background-color: transparent;\">gradually across the business and household lending segments, as \u201cimproving asset quality and economic outlook, stable credit-worthiness of borrowers and a solid economic backdrop\u201d contribute to financial institutions\u2019 willingness to lend, according to the survey.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Demand for business loans increased across all emirates,<\/strong> with Dubai recording the strongest demand growth, despite interest rates having a marginal negative impact on interest. Of the respondents, 53% reported an increase in demand, while 45.1% reported no change, with most of the demand coming from larger firms. Respondents anticipate demand for business loans to grow during 2Q 2024, particularly across the retail and wholesale trade, real estate, construction, and manufacturing sectors. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Underpinning demand:<\/strong> Improved economic conditions, working capital needs, as well as investment, were cited as the top three factors that drove demand during the quarter. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Appetite from banks also increased during the quarter to meet demand<\/strong>, especially towards larger firms as opposed to SMEs, according to the survey, which also suggests lending appetite will remain robust in 2Q 2024. Almost one third of respondents also reported an increase in the maximum size of credit lines. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Personal loan demand hit a record high in 1Q 2024, <\/strong>remaining strong across the country, especially in Abu Dhabi. The surge in demand was attributed to improved economic conditions, followed by rising incomes, and seasonal influences. Unlike business loans, interest rates had a positive impact on loan demand, potentially signaling softening loan terms.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>People \u2763\ufe0fShariah-compliant loans:<\/strong> Shari\u2019ah compliant lending products saw the strongest demand on record, with demand surpassing that of conventional loans, the survey showed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead<\/strong>, personal loan demand is expected to pick up across all categories, particularly for credit card, personal housing, and car loans. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While economic outlook emerged as the key driver for banks offering personal and business loans, <\/strong>\u201ccompetition from other banks, quality of banks\u2019 asset portfolios, and change in credit-worthiness of borrowers,\u201d followed as the main factors for lenders\u2019 willingness to extend personal loans.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>However, lenders rejected more personal loan applications during the first three months of the year. <\/strong>The slight uptick came on the back of a rise in rejected credit card and car loan applications, offset by a drop in house loan rejections.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Lending spreads were roughly unchanged across both personal and business loans<\/strong>, with 59.7% reporting no change in business loan spreads and 67.8% saying the same for personal loans. <\/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\/central-bank-of-the-uae\/\">Central Bank of the UAE<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92594\" 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=\"92594\">\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\">Tech<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/31\/khazna-to-develop-30-mw-mafraq-data-center\/\">\r\n                            Khazna to develop 30 MW Mafraq data center. Plus: Presight to boost digital infrastructure in Gambia                        <\/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\/31\/khazna-to-develop-30-mw-mafraq-data-center\/\" 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\/31\/khazna-to-develop-30-mw-mafraq-data-center\/')\">\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\/31\/khazna-to-develop-30-mw-mafraq-data-center\/\">\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=Khazna to develop 30 MW Mafraq data center&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/31\/khazna-to-develop-30-mw-mafraq-data-center\/\">\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\/31\/khazna-to-develop-30-mw-mafraq-data-center\/&title=Khazna to develop 30 MW Mafraq data center\">\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=Khazna+to+develop+30+MW+Mafraq+data+center+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F31%2Fkhazna-to-develop-30-mw-mafraq-data-center%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\/31\/khazna-to-develop-30-mw-mafraq-data-center\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1131.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92595\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/31\/khazna-to-develop-30-mw-mafraq-data-center\/1131-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1131.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1131.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1131.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1131.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92594\" class=\"content-area-description single-story post-92594 post type-post status-publish format-standard has-post-thumbnail hentry category-_newspack_tech tag-abu-dhabi tag-enterpriseam-uae tag-presight tag-tech wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.02146f16-13bb-4f48-b038-a04785ba558c.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> UAE-based <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.khazna.ae\/\" style=\"\" rel=\"noopener\">Khazna<\/a><\/strong><strong> will establish an advanced data center in Mafraq <\/strong>under a Musataha agreement with the Abu Dhabi Investment Office (ADIO), according to an Abu Dhabi media office <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/economy\/abu-dhabi-investment-office-collaborates-with-khazna-to-build-advanced-data-centre-under-musataha-programme\/\" style=\"\" rel=\"noopener\">statement<\/a>. The Mafraq facility \u2014 which will have an initial 30 MW capacity \u2014 is slated to be operational in 2026 and looks to meet accelerating demand for data centers in the UAE and across the region, the statement said. <\/p>\n<p dir=\"ltr\" style=\"margin-top: 0pt; margin-bottom: 0pt; line-height: 1.38;\"><strong style=\"background-color: transparent;\">What is a Musataha agreement, anyway? <\/strong><span style=\"background-color: transparent;\">The framework allows investors to build on government-owned property. Following the contract\u2019s expiration, the land and any constructed facilities are transferred back to the government.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Khazna is well established in the UAE data center sector: <\/strong>The outfit operates 12 data centers across the UAE, with another 12 in the pipeline expected to add 300 MW in capacity over the next two years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE has been on a data center roll:<\/strong> The UAE had <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/1207d1b0-773c-4dc4-9807-46a6af653d4b\/the-regional%253cmark%253e-data%253c%2Fmark%253e-center-market-is-primed-for-substantial-growth\" style=\"\" rel=\"noopener\">28 operating data centers<\/a> in 2023, with another 26 under development. <\/p>\n<p class=\"tag-border-left\">OTHER TECH NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Presight to enhance Gambia\u2019s digital infrastructure: <\/strong>G42 data analytics subsidiary <a target=\"_blank\" href=\"https:\/\/www.presight.ai\/\" style=\"\" rel=\"noopener\">Presight<\/a> signed an MoU with the Gambian Communications and Digital Economy Ministry to support Gambia\u2019s digital transformation under a two-phased partnership, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2588.pdf\" style=\"\" rel=\"noopener\">press release (pdf).<\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In detail:<\/strong> The first phase will see Presight develop the Gambian government\u2019s digital services as well as its national digital identity initiative in a bid to streamline access to government data. Presight will also participate in establishing a national data center. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For the second phase,<\/strong> Presight will set up a national safety operations center and a digital supply chain security lab. The center will be focused on improving Gambia\u2019s cybersecurity, while the lab will \u201censure the integrity and security of digital transactions and communications, fostering a safe digital environment for businesses and citizens alike,\u201d the press release reads. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi\/\">Abu Dhabi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/presight\/\">Presight<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/tech\/\">tech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92596\" 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=\"92596\">\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\">DISPUTE WATCH-<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/31\/bildco-approves-fab-ad-ports-settlement-agreement\/\">\r\n                            Bildco approves FAB, AD Ports settlement agreements                        <\/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\/31\/bildco-approves-fab-ad-ports-settlement-agreement\/\" 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\/31\/bildco-approves-fab-ad-ports-settlement-agreement\/')\">\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\/31\/bildco-approves-fab-ad-ports-settlement-agreement\/\">\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=Bildco approves FAB, AD Ports settlement agreement&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/31\/bildco-approves-fab-ad-ports-settlement-agreement\/\">\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\/31\/bildco-approves-fab-ad-ports-settlement-agreement\/&title=Bildco approves FAB, AD Ports settlement agreement\">\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=Bildco+approves+FAB%2C+AD+Ports+settlement+agreement+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F31%2Fbildco-approves-fab-ad-ports-settlement-agreement%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\/31\/bildco-approves-fab-ad-ports-settlement-agreement\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1200.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92597\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/31\/bildco-approves-fab-ad-ports-settlement-agreement\/1200-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1200.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1200.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1200.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1200.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92596\" class=\"content-area-description single-story post-92596 post type-post status-publish format-standard has-post-thumbnail hentry category-dispute-watch-2 tag-enterpriseam-uae tag-fab tag-first-abu-dhabi-bank 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\/.e81401e9-2960-42ca-8265-6878f379ca33.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Bildco to restructure FAB debt, approves settlement with AD Ports: <\/strong><a target=\"_blank\" href=\"https:\/\/bildco.ae\/\" style=\"\" rel=\"noopener\">Abu Dhabi<\/a><a target=\"_blank\" href=\"https:\/\/bildco.ae\/\" style=\"\" rel=\"noopener\">National for Building Materials<\/a> (Bildco) has approved a settlement agreement with First Abu Dhabi Bank (FAB), the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2585.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>. Under the agreement, Bildco will receive a debt reduction of AED 35 mn and repay the remaining sum in quarterly installments over an eight-year period, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2586.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. Under the agreement, Bildco will provide one of its real estate assets as collateral.<\/p>\n<p dir=\"ltr\" style=\"margin-top: 0pt; margin-bottom: 0pt; line-height: 1.38;\"><strong style=\"background-color: transparent;\">AND- AD Ports drops lawsuit over rental receivables claim: <\/strong><span style=\"background-color: transparent;\">The construction materials firm has also approved a settlement agreement with AD Ports resolving an AED 13.9 mn rental receivables claim. AD Ports will write off some AED 7.9 mn of the debt, with the remaining AED 6 mn to be paid in installments under a debt restructuring process, ending on 31 March 2025. The agreement saw AD Ports waive all lawsuits against the company.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>Bildco\u2019s board will convene a general assembly meeting in the first week of July to finalize the settlement with FAB. <\/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\/fab\/\">FAB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/first-abu-dhabi-bank\/\">First Abu Dhabi Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92598\" 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=\"92598\">\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\">KUDOS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/31\/adia-labeled-strongest-sovereign-wealth-brand-by-brand-finance-rta-receives-sustainability-awards\/\">\r\n                            ADIA labeled strongest sovereign wealth brand by Brand Finance + RTA receives sustainability awards                        <\/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\/31\/adia-labeled-strongest-sovereign-wealth-brand-by-brand-finance-rta-receives-sustainability-awards\/\" 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\/31\/adia-labeled-strongest-sovereign-wealth-brand-by-brand-finance-rta-receives-sustainability-awards\/')\">\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\/31\/adia-labeled-strongest-sovereign-wealth-brand-by-brand-finance-rta-receives-sustainability-awards\/\">\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=ADIA labeled strongest sovereign wealth brand by Brand Finance + RTA receives sustainability awards&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/31\/adia-labeled-strongest-sovereign-wealth-brand-by-brand-finance-rta-receives-sustainability-awards\/\">\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\/31\/adia-labeled-strongest-sovereign-wealth-brand-by-brand-finance-rta-receives-sustainability-awards\/&title=ADIA labeled strongest sovereign wealth brand by Brand Finance + RTA receives sustainability awards\">\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=ADIA+labeled+strongest+sovereign+wealth+brand+by+Brand+Finance+%2B+RTA+receives+sustainability+awards+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F31%2Fadia-labeled-strongest-sovereign-wealth-brand-by-brand-finance-rta-receives-sustainability-awards%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\/31\/adia-labeled-strongest-sovereign-wealth-brand-by-brand-finance-rta-receives-sustainability-awards\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/160.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92599\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/31\/adia-labeled-strongest-sovereign-wealth-brand-by-brand-finance-rta-receives-sustainability-awards\/160-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/160.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"160.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/160.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/160.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92598\" class=\"content-area-description single-story post-92598 post type-post status-publish format-standard has-post-thumbnail hentry category-kudos tag-abu-dhabi-investment-authority tag-enterpriseam-uae tag-kudos tag-roads-and-transport-authority 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\/.4681c740-7ab5-4a73-a662-3c7057adb33a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Abu Dhabi Investment Authority was labeled the strongest sovereign wealth fund <\/strong><strong>brand<\/strong>, with a score of 63.9 out of 100 and an A+ rating, according to a new <a target=\"_blank\" href=\"https:\/\/brandirectory.com\/reports\/asset-management-and-sovereign-wealth-funds-2024\" style=\"\" rel=\"noopener\">report<\/a> from independent brand valuation and strategy consultancy Brand Finance. The state investor\u2019s brand value was estimated at USD 561 mn. <\/p>\n<p dir=\"ltr\" style=\"margin-top: 0pt; margin-bottom: 0pt; line-height: 1.38;\"><strong style=\"background-color: transparent;\">Dubai\u2019s Roads and Transport Auth<\/strong><strong style=\"background-color: transparent;\">orit<\/strong><strong style=\"background-color: transparent;\">y (RTA) was recognized for its sustainability <\/strong><strong style=\"background-color: transparent;\">efforts,<\/strong><span style=\"background-color: transparent;\"> scooping the second-place award from Slovenia\u2019s SEE Architecture and Interior Design Awards in recognition of its headquarters\u2019 sustainable and remarkable architecture and design, according to a <\/span><a target=\"_blank\" href=\"https:\/\/www.rta.ae\/wps\/portal\/rta\/ae\/home\/news-and-media\/all-news\/NewsDetails\/prestigious-international-award-and-certificate-for-sustainability-and-environmental-excellence\" rel=\"noopener\">statement<\/a><span style=\"background-color: transparent;\">. The authority was also awarded a LEED Gold certification by the US Green Building Council for its Intelligent Traffic Systems Centre (ITS) in Al Barsha.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi-investment-authority\/\">Abu Dhabi Investment Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/kudos\/\">KUDOS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/roads-and-transport-authority\/\">Roads and Transport Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92600\" 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=\"92600\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">UAE IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/31\/on-overseas-investments-and-the-uae-as-a-trade-hub\/\">\r\n                            On overseas investments and the UAE 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 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\/31\/on-overseas-investments-and-the-uae-as-a-trade-hub\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2024\/05\/31\/on-overseas-investments-and-the-uae-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\/31\/on-overseas-investments-and-the-uae-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=On overseas investments and the UAE as a trade hub&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/31\/on-overseas-investments-and-the-uae-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\/31\/on-overseas-investments-and-the-uae-as-a-trade-hub\/&title=On overseas investments and the UAE 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=On+overseas+investments+and+the+UAE+as+a+trade+hub+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F31%2Fon-overseas-investments-and-the-uae-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\/31\/on-overseas-investments-and-the-uae-as-a-trade-hub\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/606.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92601\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/31\/on-overseas-investments-and-the-uae-as-a-trade-hub\/606-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/606.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"606.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/606.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/606.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92600\" class=\"content-area-description single-story post-92600 post type-post status-publish format-standard has-post-thumbnail hentry category-uae-in-the-news tag-africa tag-enterpriseam-uae tag-investment tag-trade tag-uae-in-the-news tag-uae-china-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\/.3444de42-5df2-44fb-acd1-4390b4c04350.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/388e1690-223f-41a8-a5f2-0c971dbfe6f0\" style=\"\" rel=\"noopener\">Financial Times<\/a><\/strong><strong> is out with a big read on the UAE\u2019s increased influence as an <\/strong><strong>investor <\/strong><strong>in Africa,<\/strong> with the country pledging USD 97 bn in new African investments in 2022 and 2023. Investments targeted renewable energy, ports, mining, and real estate, and outpaced China \u2014 previously the largest investor in Africa \u2014 by more than three times. The UAE\u2019s total investments in Africa stand at USD 110 bn, an unnamed UAE official told the newswire.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Growing UAE-China relations were the topic of conversation in <\/strong><strong>CNBC\u2019s interview<\/strong><strong> (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/video\/2024\/05\/30\/analyst-discusses-uaes-commercial-geography-and-china-ties.html\" style=\"\" rel=\"noopener\">watch,<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/video\/2024\/05\/30\/analyst-discusses-uaes-commercial-geography-and-china-ties.html\" style=\"\" rel=\"noopener\">runtime: 5:22<\/a><\/strong><strong>) <\/strong><strong>with Afshin Molavi,<\/strong> senior fellow at the Johns Hopkins University School of Advanced International Studies\u2019s Foreign Policy Institute. \u201cChinese strategic planners seem to understand the commercial geography of the UAE well,\u201d Molavi said, adding that UAE ports are considered \u201cimportant crossroads\u201d gridding to East Africa, South Asia, and across the Middle East. The UAE is China\u2019s largest Arab non-oil trading partner, comprising 30%.<\/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\/africa\/\">Africa<\/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\/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-china-relations\/\">UAE-China 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=\"92602\" 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=\"92602\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/31\/mbzuai-launches-new-llm-model-yahsat-in-zimbabwe\/\">\r\n                            MBZUAI launches new LLM model + Yahsat in Zimbabwe                        <\/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\/31\/mbzuai-launches-new-llm-model-yahsat-in-zimbabwe\/\" 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 model \u2014 dubbed K2-65B \u2014 is trained on 1.4 tn tokens using Nvidia\u2019s DGX Cloud, using 35% fewer resources than comparable LLMs. It is available without cost globally under the Apache 2.0 license.<\/p>\n<p dir=\"ltr\" style=\"margin-top: 0pt; margin-bottom: 0pt; line-height: 1.38;\"><strong style=\"background-color: transparent;\">The model outperforms Meta\u2019s Llama 2 70B Chat<\/strong><span style=\"background-color: transparent;\"> in understanding and generating human-like responses, and is competitive against larger models such as GPT-4 in areas including mathematical and logical reasoning.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not the UAE\u2019s first LLM:<\/strong> The applied research division of Abu Dhabi\u2019s Advanced Technology Research Council, the Technology Innovation Institute (TII), recently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/d30c8c5d-04d1-47a2-8420-03167ca4954e\/uae-launches-new-ai-model-to-compete-with-meta,-google\" style=\"\" rel=\"noopener\">rolled out<\/a> its new open-source GenAI model, Falcon 2 series, which included two open-source models that also outperformed Meta\u2019s Llama 3 and was on par with Google\u2019s Gemma. <\/p>\n<p class=\"tag-border-left\">TELECOMS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Yahsat to boost Zimbabwe\u2019s satellite connectivity: <\/strong>Satellite comms firm <a target=\"_blank\" href=\"https:\/\/www.yahsat.com\/\" style=\"\" rel=\"noopener\">Yahsat<\/a> signed a partnership agreement with Satcom Technologies to jointly work on satellite communications projects in Zimbabwe, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/it\/article\/b3eas9p-yahsat-partners-with-satcom-technologies-deliver\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The partnership will see Yahsat work alongside Satcom to provide the Zimbabwean government with satellite connectivity solutions, with services expected to begin in June. <\/p>\n<p class=\"tag-border-left\"> PHARMA-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>First Egyptian manufacturer to set up meds factory in Dubai Industrial City: <\/strong>Dubai business park operator Tecom Group has signed a Musataha land lease agreement with Egypt\u2019s <a target=\"_blank\" href=\"https:\/\/www.mdpharma-egypt.com\/\" style=\"\" rel=\"noopener\">MD Pharma<\/a> to set up a AED 130 mn integrated medical facility, marking the first investment by an Egyptian firm in the manufacturing hub and the first for an Egyptian pharma player in the UAE, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/dubai-industrial-city-announces-a-new-pharma-and-innovative-medicine-factory-will-be-set-up-in-its-ecosystem-ophopm07\" style=\"\" rel=\"noopener\">statement<\/a>. The facility will span 23k sqft and is set to launch in 2025 and will cater to markets in the GCC and Africa.<\/p>\n<p class=\"tag-border-left\"> HOSPITALITY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>YY Group sets up shop in the UAE: <\/strong>Singapore-based hospitality staffing and commercial cleaning services provider <a target=\"_blank\" href=\"https:\/\/yygroupholding.com\/\" style=\"\" rel=\"noopener\">YY Group<\/a> has launched operations in the UAE, appointing Ramy Attia as country director for UAE operations, according to a <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/yy-group-expands-footprint-into-united-arab-emirates-hospitality-and-hotel-industry-76953514?mod=Searchresults_pos1&amp;page=1\" style=\"\" rel=\"noopener\">press release<\/a>. The company aims to make its YY Circle Super App \u2014 which uses technology and the Internet of Things to optimize labor sourcing in the cleaning industry \u2014 the top-rated app in the local labor sourcing industry.<\/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>AD Ports inked an MoU with the Economic Development Board of Madagascar to explore <\/strong><strong>investments in the maritime, industry and logistics sectors<\/strong> in Madagascar, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3ew81i-ports-group-economic-development-board-madagascar\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The two sides will look at potential cooperation on economic cities and freezones, ports, marina and cruise port facilities, digitizing logistics and maritime services, developing the fisheries sector, and the development of a maritime academy. <\/p>\n<p class=\"tag-border-left\"> EDUCATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Education provider Gems Education will set up a branch for <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.gemsfoundersschool-dubai.com\/en\" style=\"\" rel=\"noopener\">Gems Founders School<\/a><\/strong><strong> in<\/strong> <strong>the <\/strong><strong>Dubai South Residential District<\/strong> close to Expo Road, according to the <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2024\/may\/30-05\/dubai-south-signs-agreement-with-gems-education\" style=\"\" rel=\"noopener\">Dubai Media Office<\/a>. The new school is set to offer the British curriculum from FS1 to Year 8. The campus will span 250k sqft with facilities tailored for students aged 3 to 18. The school is set to open at the start of the school year in August 2024, with registrations starting 1 June. <\/p>\n<p class=\"tag-border-left\"> DEBT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Moody\u2019s upgraded Dubai Electricity and Water Authority\u2019s long-term issuer rating<\/strong> from Baa2 to A3, citing its market dominance, strong asset base and credit metrics, supportive tariff structure, and solid liquidity profile, a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2569.pdf\" style=\"\" rel=\"noopener\">DFM filing (pdf)<\/a> reads. <\/p>\n<p class=\"tag-border-left\"> PROCUREMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ajman Transport Authority will now procure supplies digitally via the Tawreed <\/strong><strong>platform<\/strong>, following a service provision agreement with Ajman\u2019s Department of Finance, a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/government-news\/ajman-department-of-finance-strengthens-partnership-with-ajman-transport-authority-via-the-tawreed-platform-a5mht8ib\" style=\"\" rel=\"noopener\">press release<\/a> reads. The transport authority will issue tenders, receive quotes, award bids, issue purchase orders and prepare invoices through the platform.<\/p>\n<p class=\"tag-border-left\"> BUSINESS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Dubai Chamber of Commerce established the Kazakhstan Business Council <\/strong>to strengthen trade relations between the Dubai and Kazakhstan business communities, according to the <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2024\/may\/30-05\/dubai-chamber-of-commerce\" style=\"\" rel=\"noopener\">Dubai Media Office<\/a>. By the end of 1Q 2024, 589 companies from Kazakhstan were active members of the Dubai Chamber of Commerce.<\/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>The General Civil Aviation Authority forged a strategic partnership with the International <\/strong><strong>Civil Aviation Organization<\/strong>, focusing on developing future aviation professionals, <a target=\"_blank\" href=\"https:\/\/wam.ae\/ar\/article\/b3evzr7-%D8%B4%D8%B1%D8%A7%D9%83%D8%A9-%D8%A8%D9%8A%D9%86-%D8%A7%D9%84%D8%B7%D9%8A%D8%B1%D8%A7%D9%86-%D8%A7%D9%84%D9%85%D8%AF%D9%86%D9%8A-%D9%88%D8%A7%D9%84%D8%A5%D9%8A%D9%83%D8%A7%D9%88-%D9%84%D8%AA%D9%85%D9%83%D9%8A%D9%86-%D8%A7%D9%84%D8%AC%D9%8A%D9%84\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The partnership involves attracting, training, and certifying new talent.<\/p>\n<p class=\"tag-border-left\"> INS.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New AED 50 mn medical ins. plan for Sharjah: <\/strong>Sharjah ruler Sheikh Sultan bin Muhammad Al Qasimi has greenlit the new phase of Sharjah\u2019s medical ins. plan for the emirate\u2019s citizens, to be implemented with a total budget of AED 50 mn, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3ew7k0-sharjah-ruler-approves-new-phase-medical-insurance\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The new plan will provide treatment for 5k citizens between the ages of 50-55 at the University Hospital. The previous phase involved providing treatment for over 9.6k beneficiaries, all above the age of 55.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>The next phase of the plan will provide medical treatment to some 8k citizens aged between 45 and 55. <\/p>\n<p class=\"tag-border-left\"> MANUFACTURING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ta\u2019ziz inks 31 land reservation agreements: <\/strong>Ta\u2019ziz, the industrial zone under-development in Adnoc\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/1fa8b22a-aa62-40a1-8cbb-78f7ec6884cc\/adnoc-advances%253cmark%253e-ruwais%253c%2Fmark%253e-lng-project-with-early-contract\" style=\"\" rel=\"noopener\">Al Ruwais<\/a> gas field, has signed 31 land reservation agreements for its light industrial area with tenants from the manufacturing, logistics, maintenance and training services sectors, according to a <a target=\"_blank\" href=\"https:\/\/www.adnoc.ae\/en\/news-and-media\/press-releases\/2023\/taziz-signs-land-reservation-agreements-with-uae\" style=\"\" rel=\"noopener\">press release<\/a>. Located in different phases of Ta\u2019ziz, the reserved land plots are expected to be handed over next year to provide manufacturing and industrial services for the Al Dhafra region. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Ta\u2019ziz:<\/strong> Upon completion, the Ta\u2019ziz industrial zone will cover 226 sqm of warehousing spaces and will include 249 serviced plots spread across 3.71 sqkm. The light industrial area is anticipated to reel in AED 1 bn in investments and create thousands of job opportunities.<\/p>\n<p class=\"tag-border-left\"> LEGISLATION- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai digitizes judicial procedures: <\/strong>Dubai Courts has launched a program designed to streamline and digitize judicial procedures, dubbed Tanfeeth+, <a target=\"_blank\" href=\"https:\/\/wam.ae\/ar\/article\/b3ew00j-%D9%85%D8%AD%D8%A7%D9%83%D9%85-%D8%AF%D8%A8%D9%8A-%D8%AA%D8%B7%D9%84%D9%82-%D8%A8%D8%B1%D9%86%D8%A7%D9%85%D8%AC-%D8%AA%D9%86%D9%81%D9%8A%D8%B0%2B-%D9%83%D9%86%D9%82%D9%84%D8%A9-%D9%86%D9%88%D8%B9%D9%8A%D8%A9-%D9%85%D8%AC%D8%A7%D9%84\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The platform will offer services like a digital seal to facilitate enforcement of court rulings, a disclosure platform to provide judges with information on defendants\u2019 assets to allow them to issue seizure warrants directly, and a service for automatic cancellation of enforcement orders that revokes court orders and lifts seizures once payment verdicts are completed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Other services include:<\/strong> Automatic disbursements into claimants\u2019 registered bank accounts, virtual bank accounts for direct deposits of seized assets, a system for notifying order executors about seized assets that are up for sale, and an integrated platform with the Interior Ministry to directly inform the executive authority of travel bands and property seizures.<\/p>\n<p class=\"tag-border-left\"> RETAIL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi launches AED 1.3 Reem Mall:<\/strong> Abu Dhabi\u2019s latest shopping development, Reem Mall, was inaugurated on Wednesday, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/sheikh-nahyan-bin-mubarak-al-nahyan-officially-opens-reem-mall-abu-dhabis-new-lifestyle-destination-lqmvzs2l\" style=\"\" rel=\"noopener\">press release<\/a>. Built with an investment of AED 1.3 bn, the mall covers 186k sqm of leasable area and features Abu Dhabi\u2019s first indoor snow park as well as over 400 retail stores. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/education\/\">Education<\/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\/legislation\/\">legislation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/media\/\">Media<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/pharmaceuticals\/\">pharmaceuticals<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/retail\/\">retail<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/tech\/\">tech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/tecom\/\">Tecom<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/yahsat\/\">Yahsat<\/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=\"92604\" 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=\"92604\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/31\/asian-investors-and-businesses-look-to-de-risk-from-the-united-states-amid-rising-us-china-tensions\/\">\r\n                            Asian investors and businesses look to de-risk from the United States amid rising US-China tensions                        <\/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\/31\/asian-investors-and-businesses-look-to-de-risk-from-the-united-states-amid-rising-us-china-tensions\/\" 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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Driving the fears is the concern that US banks and businesses may be pressured into stepping back from business in the region, whose economy is thoroughly entwined with China.<\/p>\n<p dir=\"ltr\" style=\"margin-top: 0pt; margin-bottom: 0pt; line-height: 1.38;\"><strong style=\"background-color: transparent;\">It takes two: <\/strong><span style=\"background-color: transparent;\">US firms and investors have for years been looking to reduce their reliance on China and strengthen the resilience of supply chains by also investing in other countries in addition to China. But now, US companies and investors that have long pursued the \u201cChina plus one\u201d approach are coming across their counterparts in Asia pursuing their own \u201cAmerica plus one\u201d approach.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All roads lead to anywhere but the US: <\/strong>Asian companies are now looking towards our part of the world for funding and towards South East Asia to build factories. The region\u2019s business community is also reconsidering its relationship with the world\u2019s reserve currency, and are now beginning to look elsewhere to reduce their dependence on the USD, according to the newswire.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But don\u2019t expect to see Asia de-dollarize overnight:<\/strong> Despite ongoing negotiations between the central banks of China, Hong Kong, Thailand, and the UAE to start settling cross-border transactions in local currencies and a steady turn away from the Asia and world\u2019s reliance on the USD, the USD still accounts for some 60% of global FX reserves.<\/p>\n<p class=\"tag-border-left\"> ALSO WORTH NOTING FROM PLANET FINANCE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><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>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><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\"><\/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. <\/p>\n<p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are in the green amid a slew of fresh economic data<\/strong>, including industrial output figures and inflation in Japan. Leading gains is South Korea\u2019s Kospi, up 1.07% in response to an uptick in industrial output data. Japan\u2019s Nikkei 225 is also up 0.23%, with the broader Topix index gaining 0.7%. <\/p>\n<p><a target=\"_blank\" id=\"t.6eed4c7091671f152237407131281cc805cacffb\" 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\">8,752<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: -8.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">3,971<\/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: -2.2%)<\/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>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\">3,328<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.2% (YTD: -13.4%)<\/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-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EIBOR<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.1% o\/n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.4% 1 yr<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,503<\/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\">-1.7% (YTD: -3.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">26,922<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: +8.2%)<\/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>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\">5,235<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: +9.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,231<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6% (YTD: +6.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,982<\/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: +10.2%)<\/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>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 81.86<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.1%<\/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>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.56<\/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%<\/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 2364.6<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 68,374.33<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.20% (YTD: +61.6%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ADX rose 0.5% yesterday<\/strong> on turnover of AED 1.1 bn. The index is down 8.6% 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>Bildco (+14.6%), Ras Al Khaimah Ins. (+11.1%) and Apex Investment (+11.1%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Gulf Cement (-6.2%), Al Khaleej Investment (-6.0%) and Agility Global (-4.4%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over on the DFM<\/strong>, the index rose 0.3% on turnover of AED 368.9 mn. Meanwhile Nasdaq Dubai closed up 1.2%.<\/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>Real estate firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/manazelgroup.com\/\" style=\"\" rel=\"noopener\">Manazel<\/a><\/strong><strong> has approved a capital increase of AED 520 mn,<\/strong> through offering 520 mn new shares at AED 1 apiece to its existing shareholders and external investors, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2591.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>. The new shares issuance will bring Manazel\u2019s total capital to AED 3.12 bn, up from AED 2.6 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BHM Capital\u2019s contract as <\/strong><strong><a target=\"_blank\" href=\"https:\/\/aafs.ae\/\" style=\"\" rel=\"noopener\">Al Ansari Financial Services<\/a><\/strong><strong>\u2019 liquidity provider for its shares <\/strong><strong>on the DFM will lapse on 28 June, <\/strong>according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2589.pdf\" style=\"\" rel=\"noopener\">DFM disclosure (pdf)<\/a>. Both firms have mutually agreed not to extend it for another term.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/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\/us\/\">US<\/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=\"92606\" 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=\"92606\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/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\/31\/uae-president-encourages-arab-chinese-cooperation-in-beijing-dual-tax-agreement-with-qatar\/\">\r\n                            UAE president encourages Arab-Chinese cooperation in Beijing + dual tax agreement with Qatar                        <\/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\/31\/uae-president-encourages-arab-chinese-cooperation-in-beijing-dual-tax-agreement-with-qatar\/\" 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\/31\/uae-president-encourages-arab-chinese-cooperation-in-beijing-dual-tax-agreement-with-qatar\/')\">\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\/31\/uae-president-encourages-arab-chinese-cooperation-in-beijing-dual-tax-agreement-with-qatar\/\">\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 president encourages Arab-Chinese cooperation in Beijing + dual tax agreement with Qatar&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/31\/uae-president-encourages-arab-chinese-cooperation-in-beijing-dual-tax-agreement-with-qatar\/\">\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\/31\/uae-president-encourages-arab-chinese-cooperation-in-beijing-dual-tax-agreement-with-qatar\/&title=UAE president encourages Arab-Chinese cooperation in Beijing + dual tax agreement with Qatar\">\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+president+encourages+Arab-Chinese+cooperation+in+Beijing+%2B+dual+tax+agreement+with+Qatar+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F31%2Fuae-president-encourages-arab-chinese-cooperation-in-beijing-dual-tax-agreement-with-qatar%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\/31\/uae-president-encourages-arab-chinese-cooperation-in-beijing-dual-tax-agreement-with-qatar\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2565.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92607\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/31\/uae-president-encourages-arab-chinese-cooperation-in-beijing-dual-tax-agreement-with-qatar\/2565-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2565.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2565.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2565.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2565.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92606\" class=\"content-area-description single-story post-92606 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-china tag-diplomacy tag-enterpriseam-uae tag-qatar tag-tax 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\/.f275df19-8b36-4a23-a8ff-2400fb396c24.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>UAE President Sheikh Mohamed bin Zayed Al Nahyan called for more <\/strong><strong>Arab-Chinese cooperation <\/strong>at the Ministerial Meeting of the China-Arab States Cooperation Forum in Beijing, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/13xw0pa-uae-president-participates-10th-ministerial\" style=\"\" rel=\"noopener\">Wam<\/a> reports. Alongside Chinese President Xi Jinping and Arab leaders, Sheikh Mohamed underscored solidarity in tackling challenges and the urgency for peace amidst tensions in the region, particularly in Gaza.<\/p>\n<p dir=\"ltr\" style=\"margin-top: 0pt; margin-bottom: 0pt; line-height: 1.38;\"><strong style=\"background-color: transparent;\">In context: <\/strong><span style=\"background-color: transparent;\">China is seeking to cement its position in the region through brokering peace, <\/span><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/china-wants-ties-with-arab-states-that-will-be-model-world-peace-2024-05-30\/\" rel=\"noopener\">Reuters<\/a><span style=\"background-color: transparent;\"> reports. President Xi Jinping called for a two-state solution during the forum and an immediate cessation of hostilities in Gaza while addressing the Arab leaders.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The two countries signed several MoUs to cooperate <\/strong>in various sectors, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3ew7gy-presidents-uae-and-china-witness-exchange-mous\" style=\"\" rel=\"noopener\">Wam<\/a> writes. The agreements spanned infrastructure and cooperation on the belt and road initiative, media, nuclear energy, maritime certifications, science and technology, intellectual property, tourism, investment, green development, cultural exchange, health, education, language education, and statistical cooperation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PLUS- UAE, Qatar sign pact to prevent double taxation:<\/strong> The UAE and Qatar have signed an agreement to eliminate dual taxation, aimed at preventing tax evasion, according to a <a target=\"_blank\" href=\"https:\/\/www.qna.org.qa\/en\/News-Area\/News\/2024-05\/30\/0050-qatar,-uae-sign-agreement-on-avoidance-of-double-taxation#:~:text=During%20this%20occasion%2C%20HE%20Ali,in%20light%20of%20strengthening%20bilateral\" style=\"\" rel=\"noopener\">statement<\/a>. This agreement, signed on the sidelines of the GCC Financial and Economic Cooperation Committee meeting, brings the total double-tax treaties the UAE has inked to 146 treaties, <a target=\"_blank\" href=\"https:\/\/www.alkhaleej.ae\/2024-05-30\/%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D8%AA%D9%88%D9%82%D8%B9-%D8%A7%D8%AA%D9%81%D8%A7%D9%82%D9%8A%D8%A9-%D8%AA%D8%AC%D9%86%D8%A8-%D8%A7%D9%84%D8%A7%D8%B2%D8%AF%D9%88%D8%A7%D8%AC-%D8%A7%D9%84%D8%B6%D8%B1%D9%8A%D8%A8%D9%8A-%D9%85%D8%B9-%D8%AF%D9%88%D9%84%D8%A9-%D9%82%D8%B7%D8%B1\/%D8%A3%D8%B3%D9%88%D8%A7%D9%82-%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA\/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF\" style=\"\" rel=\"noopener\">Al Khaleej<\/a> reports. <\/p>\n<p class=\"tag-border-left\">OTHER DIPLO NEWS-<\/p>\n<ul>\n<li><strong>Secretary General of Emirates Media Council Mohammed Saeed Al Shehhi <\/strong>discussed with <strong>Jordanian Communications Minister Muhannad Mubaidin <\/strong>cooperating to jointly develop and implement the <strong>Arab strategy for media and information literacy<\/strong>. (<a target=\"_blank\" href=\"https:\/\/wam.ae\/ar\/article\/b3ew009-%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D9%88%D8%A7%D9%84%D8%A3%D8%B1%D8%AF%D9%86-%D9%8A%D8%A8%D8%AD%D8%AB%D8%A7%D9%86-%D8%AA%D9%86%D9%81%D9%8A%D8%B0-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%B1%D8%A7%D8%AA%D9%8A%D8%AC%D9%8A%D8%A9-%D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9\" style=\"\" rel=\"noopener\">Wam<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/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\/qatar\/\">Qatar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/tax\/\">tax<\/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=\"92608\" 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=\"92608\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/div>\r\n\r\n                    <p class=\"f-graphik\">MY MORNING ROUTINE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/31\/my-morning-routine-hamda-al-shamali-group-chief-people-and-intellectual-capital-officer-at-mashreq\/\">\r\n                            My Morning Routine: Hamda Al Shamali, group chief people and intellectual capital officer at Mashreq                        <\/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\/31\/my-morning-routine-hamda-al-shamali-group-chief-people-and-intellectual-capital-officer-at-mashreq\/\" 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\/31\/my-morning-routine-hamda-al-shamali-group-chief-people-and-intellectual-capital-officer-at-mashreq\/')\">\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\/31\/my-morning-routine-hamda-al-shamali-group-chief-people-and-intellectual-capital-officer-at-mashreq\/\">\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=My Morning Routine: Hamda Al Shamali, group chief people and intellectual capital officer at Mashreq&url=https:\/\/enterpriseam.com\/uae\/2024\/05\/31\/my-morning-routine-hamda-al-shamali-group-chief-people-and-intellectual-capital-officer-at-mashreq\/\">\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\/31\/my-morning-routine-hamda-al-shamali-group-chief-people-and-intellectual-capital-officer-at-mashreq\/&title=My Morning Routine: Hamda Al Shamali, group chief people and intellectual capital officer at Mashreq\">\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=My+Morning+Routine%3A+Hamda+Al+Shamali%2C+group+chief+people+and+intellectual+capital+officer+at+Mashreq+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F05%2F31%2Fmy-morning-routine-hamda-al-shamali-group-chief-people-and-intellectual-capital-officer-at-mashreq%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\/31\/my-morning-routine-hamda-al-shamali-group-chief-people-and-intellectual-capital-officer-at-mashreq\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2564.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92609\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/31\/my-morning-routine-hamda-al-shamali-group-chief-people-and-intellectual-capital-officer-at-mashreq\/2564-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2564.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2564.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2564.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2564.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92608\" class=\"content-area-description single-story post-92608 post type-post status-publish format-standard has-post-thumbnail hentry category-my-morning-routine tag-banking tag-mashreq tag-my-morning-routine 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\/6\/.3128c8d2-a368-4616-bd5e-8a0f57a10e25.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hamda Al Shamali, chief people and intellectual capital officer at Mashreq:<\/strong> Each week, My Morning Routine looks at how a successful member of the community starts their day \u2014 and then throws in a couple of random business questions just for fun. Speaking to us this week is Hamda Al Shamali <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/hamda-alshamali-ab6290ab\/?originalSubdomain=ae\" rel=\"noopener\">(LinkedIn)<\/a>, group chief people and intellectual capital officer at Mashreq. <strong>Edited excerpts from our conversation:<\/strong><\/p>\n<p dir=\"ltr\" style=\"margin-top: 0pt; margin-bottom: 0pt; line-height: 1.38;\"><strong style=\"background-color: transparent;\">I\u2019m the<\/strong><span style=\"background-color: transparent;\"> <\/span><strong style=\"background-color: transparent;\">group<\/strong><span style=\"background-color: transparent;\"> <\/span><strong style=\"background-color: transparent;\">chief people and intellectual capital officer at Mashreq.<\/strong><span style=\"background-color: transparent;\"> I used to be an accountant, then I was a relationship manager for seven years. I worked both in the frontline and the back office as a credit analyst, and then I moved to project management, which was more of corporate sustainability responsibility (CSR) for a couple of years before I was picked for HR. Then I fell in love with HR and here I am.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We look at how we can embed the concept of people in everything that we do<\/strong>, from the time that we design a process to when we launch a product. Our focus at the bank is creating an exceptional customer experience, so how can we create an employee experience that\u2019s no less exceptional? That\u2019s from the time we pick up the phone and speak to a candidate, to the time that someone decides to leave the organization and how we exit that relationship. We look at the whole holistic journey.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We look at everything from talent acquisition to intellectual capital and organizational development<\/strong>, which takes care of the learning element. We look at the gaps in terms of where we want to be as a business and how we're going to invest in that. For example, everyone in the organization has to go through AI training now. It is part of us upskilling people for the future. We\u2019re creating the pipeline for the future CEOs of the banking industry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We have completely reshaped our employee engagement journey. <\/strong>We focus on physical, mental, and financial health of our employees as well \u2014 the full reward philosophy. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Digital transformation is another important vertical.<\/strong> We look at how to move everything under one umbrella and enhance the journey. We cannot talk about a seamless or positive employee experience if everything is manual and offline. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AI can add more value to people's careers and lives. <\/strong>Efficiency is the short-term vision, but in the long-term, how can AI add value? Things can become routine and very administrative, and some tasks do not necessarily add value to the employee. Younger generations get bored very easily, and they can't sit still in one job, so AI takes that load and allows people to create more meaningful journeys for themselves. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Before we shape our department and agree on our priorities and how we want to structure it, we spend a lot of time talking to people.<\/strong> For the first two or three months after I joined, all I did was talk to people. I spoke to random people at different levels so I can put the jigsaw pieces together and get the full picture. We don't sit on our ivory tower and design what we think is right; we go and have the conversations. I listened to you. I took it back home. I processed it. Now I have this product. Does it work for you or not? And then we work together on delivery. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I hear more positive feedback now<\/strong>, and our employee engagement levels are at 91%, with high participation rates of 86% as well. Some groups have achieved 100%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The biggest misunderstanding about our job is that we\u2019re against people<\/strong>, and that we are here to make their lives difficult. We have to always bear in mind the disciplinary culture that we need to bring as well. While I do take care of you as a person in the organization, and I definitely have your best interests at heart, there is also some discipline that we need to create in terms of managing the culture and expectations, and being consistent and fair to everyone.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I wake up at 5am.<\/strong> Six months ago, I used to go to the gym and spend an hour and a half there with a personal trainer. I used to do CrossFit. I would then get ready at the gym and go to the office by 8 or 8:30am at the latest. I\u2019ve recently stopped going to the gym, but I still wake up at the same time. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What I\u2019ve learned very recently is to do one thing at a time.<\/strong> As much as we say we will multitask, it exhausts you as a person. Sometimes you have to sit back and decide, \u201ctoday, I\u2019m not going to touch this because it's not the end of the world.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>When I\u2019m back home at the end of the day, I spend the time with the family<\/strong>. I live with my mom, and every single night, the entire family comes \u2014 all the brothers and sisters \u2014 come over. By 10pm, I go to my room, and normally I would sleep, but I\u2019ve recently realized that there are a lot of books on my shelf that I\u2019ve abandoned, so I started spending an hour at night reading. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I read history, and I like fiction. <\/strong>I also read different religious books, because I love learning about new cultures, so when I connect with people, I find a common ground. I\u2019m currently reading <a target=\"_blank\" href=\"https:\/\/www.amazon.ae\/What-Owes-Night-Yasmina-Khadra\/dp\/0099540452\" style=\"\" rel=\"noopener\">What the Day Owes the Night<\/a> by Yasmine Khadra. It talks about Algeria and North African countries during the occupation of the Italians and French. It focuses on the story of two families who are parted \u2014 one goes with the French occupation and another that stays with the resistance. I've also enjoyed <a target=\"_blank\" href=\"https:\/\/www.amazon.com\/Let-You-Go-Clare-Mackintosh\/dp\/1101987502\" style=\"\" rel=\"noopener\">I Let You Go<\/a>, which talks about a mother who lost a child in a car accident. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I only watch CSI movies <\/strong>[laughs]. Currently, I'm watching a channel on OSN that features real crimes. I feel like it makes my brain work and analyze, and keeps it active. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next for me is I want to go back to CSR<\/strong> in a few years. Africa would be my first destination. I also want to go to North Pakistan, Afghanistan, Iraq, and Egypt. I'll partner with a foundation focused on education, because I want to focus on education of underprivileged people. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My favorite piece of advice is don't take things to heart. <\/strong>Keep the smile on your face always. No matter what you see from people, give them the benefit of the doubt. <\/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\/mashreq\/\">Mashreq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/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=\"92610\" 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\/31\/92610-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92610\" class=\"content-area-description single-story post-92610 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 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;\">3 August (Saturday): UFC Fight Night, Etihad arena, 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;\">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>24-27 October (Thursday-Sunday): International Sports Medicine Conference, 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;\">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>UAE to be the top performing economy in GCC this year | Electra gets the nod to acquire Elsewedy | Credit demand remained strong in 1Q<\/p>\n","protected":false},"featured_media":92579,"menu_order":0,"template":"","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-92578","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"465a9cc4-db21-4ca6-844b-e7c80241986c","teaser":"UAE to be the top performing economy in GCC this year | Electra gets the nod to acquire Elsewedy | Credit demand remained strong in 1Q","photo_url":"https:\/\/ent.news\/2024\/4\/536.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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