{"id":92631,"date":"2024-06-03T00:00:00","date_gmt":"2024-06-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=92631"},"modified":"2025-12-15T00:31:13","modified_gmt":"2025-12-15T00:31:13","slug":"alef-boosts-retail-tranche-on-strong-demand","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/alef-boosts-retail-tranche-on-strong-demand\/","title":{"rendered":"Alef boosts retail tranche on strong demand"},"content":{"rendered":"<section id=\"92633\" 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=\"92633\">\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\/06\/03\/fuel-prices-slashed-for-the-first-time-in-five-months\/\">\r\n                            THIS MORNING: Fuel prices slashed for the first time in five months + RTA unveils AED 16.8 bn land transport strategy                        <\/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\/06\/03\/fuel-prices-slashed-for-the-first-time-in-five-months\/\" 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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Abu Dhabi\u2019<\/strong>s skies will be sunny today with a daytime high of 40 \u00b0C and a low of 26 \u00b0C. The heat will gradually rise over the next three days, peaking at 44 \u00b0C on Thursday, with overnight lows ranging between 24-23 \u00b0C. Mercury will hit 42 \u00b0C in <strong>Dubai <\/strong>today, with an overnight low of 29 \u00b0C. The heat will rise to 45\u00b0C on Thursday, with overnight lows gradually cooling from 26\u00b0C on Tuesday to 23\u00b0C on Thursday, the National Center of Meteorology <a target=\"_blank\" href=\"https:\/\/x.com\/ncmuae\/status\/1797161675306516708\" style=\"\" rel=\"noopener\">forecasts<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>#2- Fuel will cost less this month: <\/strong>The Fuel Price Follow-up Committee approved a 6% fuel price cut for June, following four consecutive months of price hikes that had boosted prices to a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/44c5817d-5f3a-4219-ab2b-2a01650c4c0d\/distance-learning-is-back-tomorrow-and-after\" style=\"\" rel=\"noopener\">seven-month high<\/a>, the Emirates General Petroleum Company (Emarat) <a target=\"_blank\" href=\"https:\/\/x.com\/EmaratOfficial\/status\/1796452519302103254\" style=\"\" rel=\"noopener\">said on X<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown:<\/strong> Super 98 is now AED 3.14 per liter, Special 95 is now AED 3.02 per liter, and E-Plus now costs AED 2.95 per liter. Diesel prices also decreased, now costing AED 2.88 per liter, down from AED 3.07 in May.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#3- It\u2019s that time of the year again \u2014 outdoor work will be limited:<\/strong> Outdoor workers will receive a midday break starting from 15 June to 15 September, the Human Resources and Emiratisation Ministry said in a <a target=\"_blank\" href=\"https:\/\/www.mohre.gov.ae\/en\/media-centre\/news\/31\/5\/2024\/mohre-implements-midday-break-from-15-june-to-15-september-2024.aspx\" style=\"\" rel=\"noopener\">statement<\/a>. The directive prohibits outdoor work between 12:30 pm and 3:00 pm, with exceptions for essential sectors such as water, electricity, traffic management, and road work. Employers violating this rule will face fines starting at AED 5k for each worker, and up to AED 50k for multiple violations. Companies are also required to provide shaded areas and water to workers during the midday breaks.<\/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\">SPORTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shabab Al Ahli set a new record for the biggest victory in the Emirates Pro League<\/strong> after scoring 10 goals against a goalless Hatta yesterday, breaking Bani Yas\u2019 record which was set in 2014 with a 7-0 victory against Fujairah. <\/p>\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a><strong> #1- <\/strong><strong>Ad<\/strong><strong>noc to keep M&amp;A ball rolling:<\/strong> Abu Dhabi National Oil Company (Adnoc) has a \u201chealthy\u201d M&amp;A pipeline, Adnoc\u2019s chief investment officer and former Morgan Stanley banker Klaus Froehlich, who leads Adnoc\u2019s international expansion plans, told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-31\/ex-banker-leading-adnoc-s-m-a-push-says-deal-spree-will-continue\" style=\"\" rel=\"noopener\">Bloomberg<\/a> in an interview, responding to speculations that Adnoc has halted its M&amp;A activities. Adnoc withdrew its offer to acquire a USD 2.1 bn stake in Brazilian petrochemicals company Braskem last month and put a USD 2 bn takeover bid for <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/6dfacfc8-c431-4a7e-938b-a330c9d30130\/adnoc,-bp-put%253cmark%253e-newmed%253c%2Fmark%253e-stake-acquisition-on-hold-%2B-uk-takes-another-step-towards-blocking-redbird-imi%25e2%2580%2599s-telegraph-takeover-bid\" style=\"\" rel=\"noopener\">NewMed<\/a> on hold in March. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All is on track, Forehlich says:<\/strong> \u201cAdnoc is executing on its plan and creating a portfolio of businesses across key verticals in gas, LNG, chemicals as well as renewables and little by little, the puzzle is now coming together,\u201d Froehlich explained. \u201cWe are a big believer in gas and its future as a transition fuel. In order to optimize our LNG business today and to be a reliable supplier to our customers, we need to have positions globally,\u201d according to Froehlich.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- The oil giant has been making acquisitions to expand its LNG business and diversify operations. <\/strong>Last month, Adnoc marked its first US acquisition, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f156b800-1f4b-4254-95c4-d8598329988e\/%253cmark%253eadnoc%253c%2Fmark%253e-acquires-11.7%2525-stake-in-nextdecade'\" style=\"\" rel=\"noopener\">securing a minority stake<\/a> in NextDecade\u2019s LNG export project in Texas, along with a 20-year supply agreement.&nbsp; It also&nbsp;<a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/338dd02a-506c-4dc0-b525-18a065a6f7fa\/adnoc-acquires-10%2525-of%253cmark%253e-mozambique%253c%2Fmark%253e-lng-project\" style=\"\" rel=\"noopener\">acquired a 10% stake<\/a> in a natural gas project in Mozambique, and is mulling <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/bcadac82-4d60-45bb-8908-ab7deb30dc3f\/plenty-of-help-from-the-gov%25e2%2580%2599t-for-the-aftermath-of-the-storm#:~:text=%232%2D%20Adnoc%20eyes,beyond%20crude%20oil.\" style=\"\" rel=\"noopener\">a stake acquisition in AmeriGas<\/a>, the propane distribution unit of US utility holding company UGI Corp, as part of plans to diversify away from oil as well as a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ec1cba19-79b6-4f5f-af65-82bdc46abb56\/adnoc-mulls-bid-for-shell%25e2%2580%2599s-downstream-assets-in-south-africa\" style=\"\" rel=\"noopener\">USD 800 mn<\/a> transaction to acquire Shell\u2019s downstream assets in South Africa.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>No news on Covestro or Borouge: <\/strong>Covestro is \u201ca great platform with a fantastic management team,\u201d Froehlich said, declining to comment on the status of the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/40defb25-3f93-4dbc-8a68-349b11bca13e\/some-disruptions-continue-at-dxb-following-tuesday%25e2%2580%2599s-storm\" style=\"\" rel=\"noopener\">stalled<\/a> takeover discussions with the German chemicals company and the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/72ee5c31-9697-415d-a2fa-9d74ede3b7fb\/updates-on-potential-acquisitions-from-adq-and%253cmark%253e-borouge%253c%2Fmark%253e-%2B-barcelona-fc-could-get-funds-from-dubai-investors\" style=\"\" rel=\"noopener\">potential merger<\/a> of their plastic unit Borouge with Austrian Borealis.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt4\"><\/a> <strong>#2- RTA unveils AED 16.8 bn land transport strategy: <\/strong>Dubai\u2019s Roads and Transport Authority (RTA) has unveiled a new roadmap that looks to boost the land transport and logistics sector\u2019s contribution to Dubai\u2019s economy to AED 16.8 bn, increase technology adoption by 75%, cut carbon emissions by 30%, and improve operational efficiency by 10%, according to a <a target=\"_blank\" href=\"https:\/\/mediaoffice.ae\/en\/news\/2024\/june\/02-06\/rta-strategy\" style=\"\" rel=\"noopener\">statement<\/a>. The authority has identified 17 projects in its pipeline that include digitization, a heavy freight services platform, construction equipment rental services, road freight data centers, and updates to trucking fleets. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.aman.ae\/\" style=\"\" rel=\"noopener\">Dubai Islamic Ins. Company (Aman)<\/a><\/strong> <strong> is set to offload its individual life ins. portfolio in <\/strong><strong>3Q 2024<\/strong> as part of its plan to address its accumulated losses, which topped AED 149 mn as of 1Q of this year, the insurer said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/135.pdf\" style=\"\" rel=\"noopener\">DFM disclosure (pdf)<\/a>. Pending approval from the CBUAE, Aman will then proceed to exit its remaining ins. portfolio and transition into an investment company.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> Aman\u2019s board greenlit the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/134.pdf\" style=\"\" rel=\"noopener\">plan (pdf)<\/a> to sell its life ins. portfolio to <a target=\"_blank\" href=\"https:\/\/takaful.ae\/en\/\" style=\"\" rel=\"noopener\">Abu Dhabi National Takaful Company (ADNTC)<\/a> in a transaction valued at AED 37.5 mn in June of last year. <\/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>#4- Boeing will take years to recover from its ongoing crisis<\/strong>, Emirates President Tim Clark told Bloomberg (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/videos\/2024-06-02\/emirates-clark-on-air-travel-demand-dnata-boeing\" style=\"\" rel=\"noopener\">watch, runtime: 18:35<\/a>). \u201cFor me, this will be a five-year hiatus starting from now,\u201d he said. He expressed doubt about Boeing's ability to fully regain their production capacity across all aircraft models. The Boeing 777-9 model, of which Emirates has more than 100 orders, is running approximately five years behind schedule, and the airline has yet to receive a clear revised timeline from Boeing.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Boeing\u2019s delays mean higher costs for Emirates: <\/strong>This delay has prompted Emirates to expand the retrofitting of its Boeing 777 fleet, resulting in a cost increase from USD 2 bn to USD 3.5 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emirates is cautious about ordering more Airbus A350s due to engine performance concerns<\/strong>, he added. \u201cIt\u2019s a great plane,\u201d he said regarding the A350 model. \u201cBut you\u2019ve got to get it somewhere where you can put your hand on your heart,\u201d he said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Clark warns of rising airfare costs as aviation hubs grapple with surging demand for air travel<\/strong>, which is projected to potentially double in certain regions over the next decade, in an interview with <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/video\/2024\/06\/02\/emirates-president-warns-of-higher-ticket-prices.html?&amp;qsearchterm=emirates\" style=\"\" rel=\"noopener\">CNBC<\/a>. Clark expressed concerns about the persistent gap between available capacity and growing demand, anticipating a rise in ticket prices due to this imbalance in the near future. <\/p>\n<p class=\"tag-border-left\"> HAPPENING THIS WEEK- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><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 style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3-<\/strong> <strong>The World Air Transport Summit and International Air Transport Association (IATA) is <\/strong><strong>holding its annual general meeting and the World Air Transport Summit <\/strong>until tomorrow. The event, hosted by Emirate Airlines, is being held in the UAE for the first time and brings together some 1.5k participants including industry leaders, government officials and media to discuss challenges facing the international aviation sector. <\/p>\n<p class=\"tag-border-left\"> THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s an unusually busy Monday morning<\/strong>, with a handful of stories fighting for a spot on the front pages.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IPO WATCH- Fast-fashion retailer Shein will soon file a prospectus with the UK\u2019s <\/strong><strong>Financial Conduct Authority ahead of its anticipated London IPO<\/strong>, which could value the company at over USD 64 bn. This is Shein\u2019s second attempt at going public after it tried to make its debut in New York but faced regulatory hurdles due to its ties to Beijing. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/f2836789-7610-4801-b836-466e13e8c927\" style=\"\" rel=\"noopener\">FT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/retail-consumer\/online-fashion-giant-shein-file-prospectus-50-billion-london-float-sky-news-2024-06-02\/\" 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>ELECTION SEASON is in full swing: Mexico could welcome its first female president. <\/strong>Mexicans headed to the polls yesterday to cast their ballots in a historic presidential race, with two female candidates in the lead \u2014 leftist former head of government of Mexico City Claudia Sheinbaum and conservative Xochitl G\u00e1lvez. Results should be announced shortly. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/americas\/mexicans-vote-election-seen-crowning-first-female-president-2024-06-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/06\/02\/americas\/mexico-election-voting-sunday-intl-latam\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/live\/mexico-election-results-updates\" style=\"\" rel=\"noopener\">AP<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- South Africa\u2019s African National Congress is scrambling to conclude coalition talks <\/strong>and has a few \u201cvery difficult\u201d days ahead, one political analyst told <a target=\"_blank\" href=\"https:\/\/news.sky.com\/story\/results-in-south-africa-election-expected-soon-as-ruling-party-to-lose-majority-for-first-time-in-30-years-13146835\" style=\"\" rel=\"noopener\">Sky News<\/a>. As we noted yesterday, the ANC lost its parliamentary majority for the first time since the fall of white rule. President Cyril Ramaphosa called yesterday for unity and said he would not step down despite the loss at the polls, <a target=\"_blank\" href=\"https:\/\/www.politico.eu\/article\/south-africa-elections-president-cyril-ramaphosa-african-national-congress-party\/\" 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>AND- The US presidential elections are fast approaching <\/strong>and a <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/bidens-big-weakness-vs-trump-voters-without-college-degrees-reutersipsos-poll-2024-06-01\/\" style=\"\" rel=\"noopener\">Reuters poll<\/a> breaks down where each of the leading candidates \u2014 Joe Biden and Donald Trump \u2014 stand among voters in comparison to this time four years ago, when they went head- to-head for the first time. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All this election talk got you overwhelmed? <\/strong>We have everything you need to know about the upcoming elections this year in an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2f480faa-4a09-4161-b4af-1307f2accae8\/it%25e2%2580%2599s-presidential-election-season-in-the-us-of-a.-here%25e2%2580%2599s-what-you-need-to-know.\" style=\"\" rel=\"noopener\">Enterprise Explains<\/a> published late last year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN LOGISTICS- <\/strong>The economic fallout of ships diverting away from the Red Sea to avoid Houthi attacks is still receiving coverage, with Bloomberg\u2019s daily <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-02\/ships-diverted-from-red-sea-send-ripple-effects-across-the-globe?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">supply chains newsletter<\/a> \u2014 Supply Lines \u2014 dedicating <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-02\/ships-diverted-from-red-sea-send-ripple-effects-across-the-globe?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">yesterday\u2019s issue<\/a> to the topic. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adnoc\/\">Adnoc<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/economy\/\">Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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  <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/03\/alef-increases-retail-shares-in-adx-debut\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1337.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92637\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/03\/alef-increases-retail-shares-in-adx-debut\/1337-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1337.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1337.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1337.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1337.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92636\" class=\"content-area-description single-story post-92636 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-adx tag-alef-education tag-edtech tag-enterpriseam-uae tag-ipo tag-ipo-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.3f357f52-051a-4621-8c7e-331d7dbe2296.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Abu Dhabi-based edtech firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.alefeducation.com\/\" style=\"\" rel=\"noopener\">Alef Education<\/a><\/strong><strong> raised the number of shares <\/strong><strong>offered <\/strong><strong>to retail investors in its IPO to 140 mn<\/strong>, representing 10% of the offering \u2014 up from the initial 8% \u2014 on the back of strong investor demand, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/106.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. Alef narrowed the size of its institutional tranche to 90%, down from 92%, to accommodate the change.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the offering:<\/strong> Alef shareholders Tech Nova Investment and Kryptonite Investments are <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/4e5daecb-6e2b-4935-8e23-d15a2606694c\/alef-education-plans-june-adx-debut\" style=\"\" rel=\"noopener\">selling a total of 1.4 bn shares<\/a> \u2014 equivalent to 20% of its total share capital \u2014 on the ADX in Abu Dhabi's first IPO of the year and the UAE's third. The edtech firm <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f6c41be6-fe26-4b85-82e4-99abc0dc76e9\/%253cmark%253ealef%253c%2Fmark%253e%25e2%2580%2599s-ipo-could-raise-as-much-as-aed-1.89-bn\" style=\"\" rel=\"noopener\">set the price range<\/a> between AED 1.30-1.35 per share, valuing the retail tranche between AED 182-189 mn, and putting it on course to raise as much as AED 1.89 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>No changes in the timeline: <\/strong>The book-building process began last Tuesday, 28 May, with the subscription period for retail investors set to conclude tomorrow. Institutional investors\u2019 subscription period will wrap a day later on Wednesday. Shares are expected to begin trading on 12 June.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors: <\/strong><a target=\"_blank\" href=\"http:\/\/www.bankfab.com\/en-ae\/personal\" style=\"\" rel=\"noopener\">FAB<\/a> and <a target=\"_blank\" href=\"https:\/\/www.efghldg.com\/\" style=\"\" rel=\"noopener\">EFG Hermes<\/a> are acting as joint lead managers and joint bookrunners. FAB is also the listing advisor and lead receiving bank of the IPO, with <a target=\"_blank\" href=\"https:\/\/www.adib.ae\/en\" style=\"\" rel=\"noopener\">Abu Dhabi Islamic Bank<\/a>, <a target=\"_blank\" href=\"https:\/\/www.adcb.com\/en\/personal\/\" style=\"\" rel=\"noopener\">Abu Dhabi Commercial Bank<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.mbank.ae\/\" style=\"\" rel=\"noopener\">Al Maryah Community Bank<\/a> acting as receiving banks.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More on Alef: <\/strong>Founded in Abu Dhabi in 2016, Alef\u2019s flagship learning platform provides curated study plans for students using AI and machine learning tech, spanning several international markets, including the UAE, the US, Morocco and Indonesia.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- We have more IPOs in the pipeline: <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/c51b4ea9-069c-433b-a44a-d91139d4417f\" style=\"\" rel=\"noopener\">Etihad Airways<\/a> and supermarket chain <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/fa864923-b630-428a-8983-899370e1ccb4\/lulu-moves-forward-with-planned-ipo\" style=\"\" rel=\"noopener\">LuLu group<\/a> have each tapped banks to advise on their planned IPOs on the ADX, while over on the DFM, construction firm Alec <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/e2feb924-f76a-4703-af1e-485f9061c6b2\/icd-backed-alec-taps-banks-ahead-of-planned-ipo\" style=\"\" rel=\"noopener\">tapped<\/a> advisors, and shisha producer Advanced Inhalation Rituals was said to be <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/mideasts-biggest-tobacco-firm-air-invites-banks-pitch-roles-ipo-sources-2023-07-04\/\" style=\"\" rel=\"noopener\">eyeing an IPO<\/a> in 1H 2024. Amanat Holdings is looking <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/a7487593-d87d-409f-8b7b-96601eda5c08\/expect-at-least-five-more-ipos-in-the-uae-this-year\" style=\"\" rel=\"noopener\">to list<\/a> either its education or healthcare unit, with reports that its healthcare unit could raise some USD 200 mn as soon as this year. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adx\/\">ADX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/alef-education\/\">Alef Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/edtech\/\">edtech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ipo\/\">IPO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ipo-watch\/\">IPO WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92638\" 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=\"92638\">\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\">ENERGY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/03\/opec-extends-supply-cuts-granting-the-uae-a-higher-production-quota-for-2025\/\">\r\n                            Opec+ extends supply cuts, granting the UAE a higher production quota for 2025                        <\/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\/06\/03\/opec-extends-supply-cuts-granting-the-uae-a-higher-production-quota-for-2025\/\" 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 alliance will keep in place current production cuts of 3.66 mn barrels per day (bbl \/ d) until the end of this September, before beginning to \u201cphase out the cuts of 2.2 mn bbl \/ d over the course of a year from October 2024 to September 2025,\u201d <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/opec-seen-prolonging-cuts-2024-into-2025-two-sources-say-2024-06-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. The group is scheduled to meet again on Sunday, 1 December 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context-<\/strong> Members of the group are currently slashing oil output by some 5.9 mn barrels per day, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/opec-seen-prolonging-cuts-2024-into-2025-two-sources-say-2024-06-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, in an effort to balance global oil markets and prop up prices against a backdrop of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/617757b3-5a94-4c5d-ba91-5dc52691ab50\/sama-confirms-founding-day,-eid-holidays-%2B-ramadan-work-hours\" style=\"\" rel=\"noopener\">waning demand from China<\/a>, and higher US <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/22dfbf48-e5d5-40bc-b602-ba121a6c438b\/oil-ministry%25e2%2580%2599s-strategy-to-focus-on-price-management-in-2024-2025,-but-its-long-term-outlook-on-demand-is-unchanged--report\" style=\"\" rel=\"noopener\">shale production<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE has also been granted a higher production quota of 3.5 mn barrels per day in 2025<\/strong>, up from the current 2.9 mn. This came despite the group pushing the deadline for an independent assessment of its members\u2019 production capacities to November 2025 from this June, with the figures to be used as guidance for 2026 reference production levels.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The UAE has been <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/fed426d3-64e3-48f2-af73-fc826d9885a4\/uae-economy-to-be-a-top-performer-in-the-gcc-this-year-%25e2%2580%2593world-bank\" style=\"\" rel=\"noopener\">hoping<\/a> to increase its 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>Adnoc has ramped up drilling operations recently<\/strong>, drilling new wells in oil fields and connecting production sites to existing processing stations to squeeze out more deposits, the sources said. The oil giant raised its crude oil production capacity to 4.85 mn bbl \/ d from 4.65 mn bbl \/ d <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/9723908b-fa80-4e47-8373-98b38fea0829\/adia-will-buy-1-mn-shares-in-saudi-fakeeh-care%25e2%2580%2599s-ipo-%2B-dubai-saw-5k-new-residential-units-added-in-1q-2024\" style=\"\" rel=\"noopener\">earlier<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/9723908b-fa80-4e47-8373-98b38fea0829\/adia-will-buy-1-mn-shares-in-saudi-fakeeh-care%25e2%2580%2599s-ipo-%2B-dubai-saw-5k-new-residential-units-added-in-1q-2024\" style=\"\" rel=\"noopener\">this<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/9723908b-fa80-4e47-8373-98b38fea0829\/adia-will-buy-1-mn-shares-in-saudi-fakeeh-care%25e2%2580%2599s-ipo-%2B-dubai-saw-5k-new-residential-units-added-in-1q-2024\" style=\"\" rel=\"noopener\">month<\/a>. It also recently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/82dbe67f-ea01-4893-8f5d-9618a840108e\/ras-al-sadr-is-back-online\" style=\"\" rel=\"noopener\">announced<\/a> resumed operations at its Ras Al Sadr field in Abu Dhabi, and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/8b537867-3b34-4807-ae3b-b248cdbf8b39\/%253cmark%253eadnoc%253c%2Fmark%253e-drilling-sets-up-jv-after-bagging-usd-1.7-bn-contract-%2B-reports-1q-2024-earnings\" style=\"\" rel=\"noopener\">set up a JV<\/a> to unlock \u201cunconventional\u201d energy resources in the emirate. Adnoc Gas also earmarked <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/bf7bd619-f88a-4b27-a210-0c319a28d66f\/%253cmark%253eadnoc%253c%2Fmark%253e-gas-earmarks-usd-13-bn-for-local-%2B-int%25e2%2580%2599l-expansion\" style=\"\" rel=\"noopener\">USD 13 bn<\/a> over the next five years to expand in domestic and international markets, with plans to double its LNG production capacity by 2028.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is aligned with<\/strong><strong> what pundits had penciled in: <\/strong>Analysts speaking with <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/saudi-arabia-invites-opec-ministers-riyadh-june-2-meeting-sources-say-2024-05-31\/\" style=\"\" rel=\"noopener\">Reuters<\/a> and the <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/05\/31\/business\/opec-meeting-oil-prices.html?searchResultPosition=4\" style=\"\" rel=\"noopener\">New York Times<\/a> had expected <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/edition\/am\/0b38df70-44f1-4c27-90dc-5af9d12d34df\/aramco-kicks-off-blockbuster-sar-43-bn-share-sale-today\" style=\"\" rel=\"noopener\">some or all of the cuts<\/a> to be extended. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adnoc\/\">Adnoc<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/oil\/\">Oil<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/opec-2\/\">OPEC+<\/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=\"92640 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=\"92640\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/03\/92640-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92640\" class=\"content-area-description single-story post-92640 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=\"92641\" 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=\"92641\">\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\/06\/03\/fab-and-yapi-kredi-terminate-takeover-talks\/\">\r\n                            FAB and Yapi Kredi terminate takeover talks                        <\/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\/06\/03\/fab-and-yapi-kredi-terminate-takeover-talks\/\" target=\"_blank\">\n             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href=\"https:\/\/api.whatsapp.com\/send?text=FAB+and+Yapi+Kredi+terminate+takeover+talks+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F03%2Ffab-and-yapi-kredi-terminate-takeover-talks%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\/06\/03\/fab-and-yapi-kredi-terminate-takeover-talks\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/179.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92642\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/03\/fab-and-yapi-kredi-terminate-takeover-talks\/179-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/179.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"179.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/179.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/179.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92641\" class=\"content-area-description single-story post-92641 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-banking tag-enterpriseam-uae tag-fab tag-ma-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.3f357f52-051a-4621-8c7e-331d7dbe2296.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>FAB\u2019s Yapi Kredi takeover hits a dead end: <\/strong>First Abu Dhabi Bank (FAB) will no longer be acquiring a stake in Turkey's fourth-biggest private bank, Yapi Kredi, after Turkish industrial conglomerate Koc Holding terminated takeover discussions with the Emirati lender, stating that they \u201chave not resulted in a conclusion,\u201d Koc Holding said in a <a target=\"_blank\" href=\"https:\/\/www.kap.org.tr\/en\/Bildirim\/1293231\" style=\"\" rel=\"noopener\">disclosure<\/a> without mentioning FAB as the bidder. The talks reportedly fell through on the back of disagreements over pricing, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-21\/uae-bank-s-talks-with-turkish-lender-hit-snag-on-valuation\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported earlier.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>FAB was thought to be on the verge of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/5ebf6e6e-458d-4b1b-a4a5-6a07267a0d53\/fab-closes-in-on-acquisition-of-yapi-kredi-%2B-al-mal-capital-reit-adds-dubai-school-to-its-portfolio\" style=\"\" rel=\"noopener\">finalizing the talks<\/a> to take a 61.2% stake in Yapi Kredi. Koc was reportedly seeking a higher price than what FAB was willing to offer, preventing the UAE\u2019s biggest lender \u2014 which had been eyeing the stake since <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/c6e11ec4-9aa6-42d4-943c-3558482a919b\/fab-considers-acquisition-of-turkish-lender%253cmark%253e-yapi-kredi%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">April<\/a> \u2014 from conducting due diligence on the stake, according to Bloomberg. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FAB has been trying for a couple of years now to make a big move outside the UAE: <\/strong>The bank was <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-02-09\/standard-chartered-is-still-in-play-with-fab-s-operation-foxtrot\" style=\"\" rel=\"noopener\">weighing<\/a> an offer of USD 35 bn for Standard Chartered last year and was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/003314c4-b1ce-48c1-8c81-d789953d2a6b\/%253cmark%253efab%253c%2Fmark%253e-drops-its-bid-for-efg-hermes.-plus:-incolease,-mondi-in-transactions.\" style=\"\" rel=\"noopener\">trying to buy<\/a> Egypt\u2019s EFG Hermes in 2022. Both transactions fell through. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reax:<\/strong> Following the announcement, Yapi Kredi\u2019s shares fell 5.6% to TRY 32.3 at Friday\u2019s close, their lowest level since May 15, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-31\/turkey-s-koc-holding-terminates-talks-to-sell-yapi-kredi-stake\" style=\"\" rel=\"noopener\">Bloomberg<\/a> 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\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/fab\/\">FAB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92643\" 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=\"92643\">\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\">STARTUP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/03\/growdash-raises-aed-6-8-mn-in-seed-funding-round\/\">\r\n                            SaaS platform Growdash raises AED 6.8 mn in seed funding round                        <\/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\/06\/03\/growdash-raises-aed-6-8-mn-in-seed-funding-round\/\" 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\/06\/03\/growdash-raises-aed-6-8-mn-in-seed-funding-round\/')\">\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\/06\/03\/growdash-raises-aed-6-8-mn-in-seed-funding-round\/\">\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=Growdash raises AED 6.8 mn in seed funding round&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/03\/growdash-raises-aed-6-8-mn-in-seed-funding-round\/\">\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\/06\/03\/growdash-raises-aed-6-8-mn-in-seed-funding-round\/&title=Growdash raises AED 6.8 mn in seed funding round\">\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=Growdash+raises+AED+6.8+mn+in+seed+funding+round+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F03%2Fgrowdash-raises-aed-6-8-mn-in-seed-funding-round%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\/06\/03\/growdash-raises-aed-6-8-mn-in-seed-funding-round\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/163.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92644\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/03\/growdash-raises-aed-6-8-mn-in-seed-funding-round\/163-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/163.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"163.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/163.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/163.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92643\" class=\"content-area-description single-story post-92643 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterpriseam-uae tag-growdash tag-oraseya-capital tag-oryx-fund tag-startup-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.3f357f52-051a-4621-8c7e-331d7dbe2296.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Dubai-based SaaS platform <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.mygrowdash.com\/\" style=\"\" rel=\"noopener\">Growdash<\/a><\/strong><strong> secures AED 6.8 mn in a seed funding <\/strong><strong>round<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2024\/06\/growdash-closes-seed-round-1-8-million\" style=\"\" rel=\"noopener\">press release<\/a>. The funding was led by <a target=\"_blank\" href=\"https:\/\/www.oryxfund.com\/\" style=\"\" rel=\"noopener\">Oryx Fund<\/a>, Hambro Perks\u2019 Mena-focused VC, and <a target=\"_blank\" href=\"https:\/\/oraseyacapital.com\/\" style=\"\" rel=\"noopener\">Oraseya Capital<\/a>, part of Dubai Integrated Economic Zones Authority. Abu Dhabi-based <a target=\"_blank\" href=\"https:\/\/www.hub71.com\/\" style=\"\" rel=\"noopener\">Hub71<\/a> also participated in the round, along with existing investors <a target=\"_blank\" href=\"https:\/\/tpninvestments.ae\/\" style=\"\" rel=\"noopener\">TPN Investments<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.gccangels.com\/\" style=\"\" rel=\"noopener\">GCC Angels<\/a>, and industry angels like <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/angelspark\/\" style=\"\" rel=\"noopener\">AngelSpark<\/a>, Mohamed Zourob, and Abdullah Mohamad.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where the money\u2019s going: <\/strong>\u201cWith our seed financing, we will accelerate our product roadmap, doubling-down on machine learning and building new, innovative features that align with our product methodology,\u201d Growdash\u2019s chief experience officer Enver Sorkun said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead: <\/strong>The company intends to launch its technology in restaurants in Saudi Arabia later in 2024 and to become a \u201cfirst mover\u201d in central eastern Europe. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Growdash: <\/strong>Founded in 2022 by former Talabat employees Sean Trevaskis (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/sean-trevaskis\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) and Enver Sorkun (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/emsorkun\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), the company has become a leading provider of restaurant analytics and business intelligence in the region, serving over 300 restaurant brands across 4k locations in the UAE, Kuwait, and Qatar.<\/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\/growdash\/\">Growdash<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/oraseya-capital\/\">Oraseya Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/oryx-fund\/\">Oryx Fund<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/startup-watch\/\">STARTUP WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92645\" 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=\"92645\">\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\">UAE IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/03\/the-uae-has-its-eyes-on-becoming-a-year-round-destination\/\">\r\n                            The UAE has its eyes on becoming a \u201cyear-round\u201d destination                        <\/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\/06\/03\/the-uae-has-its-eyes-on-becoming-a-year-round-destination\/\" 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\/06\/03\/the-uae-has-its-eyes-on-becoming-a-year-round-destination\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n          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target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/03\/the-uae-has-its-eyes-on-becoming-a-year-round-destination\/&title=The UAE has its eyes on becoming a \u201cyear-round\u201d destination\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+UAE+has+its+eyes+on+becoming+a+%E2%80%9Cyear-round%E2%80%9D+destination+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F03%2Fthe-uae-has-its-eyes-on-becoming-a-year-round-destination%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\/06\/03\/the-uae-has-its-eyes-on-becoming-a-year-round-destination\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2038.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92646\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/03\/the-uae-has-its-eyes-on-becoming-a-year-round-destination\/2038-jpeg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2038.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2038.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2038.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2038.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92645\" class=\"content-area-description single-story post-92645 post type-post status-publish format-standard has-post-thumbnail hentry category-uae-in-the-news tag-enterpriseam-uae tag-tourism tag-uae-in-the-news wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.3f357f52-051a-4621-8c7e-331d7dbe2296.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another quiet day in the foreign press:<\/strong> The only coverage of UAE in the foreign press worth noting is a Bloomberg <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-30\/a-transfer-hub-no-more-dubai-seeks-to-win-more-return-visitors\" style=\"\" rel=\"noopener\">piece<\/a> on Dubai\u2019s efforts to lure more visitors as it pivots from serving as a transfer hub to a \u201cyear-round destination,\u201d as it launches a new tourist visa and spends \u201cheavily\u201d on the expansion of Al Maktoum International Airport, which will include a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/9f47e051-fbaf-4d95-aa2a-9ac46f2506f5\/al-maktoum%253cmark%253e-airport%253c%2Fmark%253e-expansion-plans-back-on-track\" style=\"\" rel=\"noopener\">USD 35 bn new passenger terminal<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/uae-in-the-news\/\">UAE IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92647\" 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=\"92647\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/03\/adnoc-awards-minority-stake-in-an-abu-dhabi-concession-to-azerbaijans-socar\/\">\r\n                            Adnoc awards minority stake in an Abu Dhabi concession to Azerbaijan\u2019s Socar                        <\/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\/06\/03\/adnoc-awards-minority-stake-in-an-abu-dhabi-concession-to-azerbaijans-socar\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img 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hentry category-also-on-our-radar tag-adnoc tag-also-on-our-radar tag-difc tag-ega tag-enec tag-energy tag-enterpriseam-uae tag-evs tag-ma tag-manufacturing tag-pharma tag-socar tag-space 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\/6\/.3f357f52-051a-4621-8c7e-331d7dbe2296.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">ENERGY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1-<\/strong> <strong>Adnoc awards 3% stake in Abu Dhabi concession to Socar: <\/strong>The Abu Dhabi National Oil Company (Adnoc) awarded the State Oil Company of Azerbaijan Republic (Socar) a 3% participating stake in Adnoc\u2019s Sarb and Umm Lulu concession for an undisclosed sum, according to a <a target=\"_blank\" href=\"https:\/\/www.adnoc.ae\/en\/news-and-media\/press-releases\/2023\/adnoc-awards-3-interest-in-sarb-and-umm-lulu-concession-to-socar\" style=\"\" rel=\"noopener\">press release<\/a>. This transaction marks Socar\u2019s first upstream international investment. Following the acquisition, Adnoc now holds a 57% stake in the concession, while Austrian OMV and TotalEnergies each hold a 20% stake.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Adnoc and Socar are no strangers:<\/strong> Last year, Socar sold Adnoc a <a target=\"_blank\" href=\"https:\/\/www.adnoc.ae\/en\/News-and-Media\/Press-Releases\/2023\/ADNOC-to-Acquire-30-Equity-Stake-in-Absheron-Gas-Field\" style=\"\" rel=\"noopener\">30% stake<\/a> in Absheron gas field in Azerbaijan. The two energy firms also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/eb8a217c-d00b-41d5-8c61-a60936299fe9\/another-small-pile-of-masdar-agreements#:~:text=Adnoc%20%2B%20Socar%20partner,clean%20energy%20projects.\" style=\"\" rel=\"noopener\">signed an agreement<\/a> to explore advancing blue hydrogen, carbon management, and geothermal tech that can accelerate the decarbonization of energy systems in the UAE, Azerbaijan, and other markets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Renewables giant Masdar has broken <\/strong><strong>ground on its 250 MW Nur Bukhara solar plant<\/strong> <strong>with a 63 MW battery energy storage system (BESS) in Uzbekistan<\/strong>, the company <a target=\"_blank\" href=\"https:\/\/x.com\/Masdar\/status\/1796612160275050744\" style=\"\" rel=\"noopener\">stated<\/a> on Friday. The project is the first of its kind in the <a target=\"_blank\" href=\"https:\/\/www.britannica.com\/topic\/Commonwealth-of-Independent-States\" style=\"\" rel=\"noopener\">Commonwealth of Independent States<\/a> (CIS) \u2014 a regional intergovernmental organization in Eurasia \u2014 and is set to start commercial operations by the end of the year, according to Masdar\u2019s <a target=\"_blank\" href=\"https:\/\/masdar.ae\/en\/renewables\/our-projects\/nur-bukhara-pv\" style=\"\" rel=\"noopener\">website<\/a>. Masdar <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/586f31bb-e46f-4aa7-83aa-f7b79ff08cbc\/masdar-and-the-world-bank-advance-uzbek-solar-project\" style=\"\" rel=\"noopener\">secured<\/a> USD 171 mn in financing for the project in May. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the project: <\/strong>The project \u2014 which will stand as Central Asia\u2019s first renewable power facility with a utility-scale battery storage system \u2014 plans to offset around 327k metric tons of CO2, generate around <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/6f0f601a-4c41-49bc-a16e-7d9d3b205f01\" style=\"\" rel=\"noopener\">585 GWh of energy<\/a> annually, and power 75k houses. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MANUFACTURING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Emirates Global Aluminium (EGA) has inked a <\/strong><strong>framework agreement with Aluminium Corporation of China (Chinalco) to jointly develop an alumina refinery <\/strong>in Guinea, according to a <a target=\"_blank\" href=\"https:\/\/media.ega.ae\/ega-and-chinalco-sign-a-framework-agreement-progressing-cooperation-on-alumina-refinery-development-in-guinea-during-uae-state-visit-to-china\/\" style=\"\" rel=\"noopener\">press release<\/a>. Signed on the sidelines of the UAE-China Business & Investment Forum in Beijing, the agreement will see the two firms build the facility through a joint investment. EGA subsidiary Guinea Alumina Company (GAC) Director-General Youssef Sylla had revealed in February plans to set up a refinery with an annual capacity of 1 mn tonnes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not EGA\u2019s first Guinea investment: <\/strong>EGA owns Guinea Alumina Corporation, a bauxite mine and export facility operator in Guinea.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Acino to expand Dubai operations: <\/strong>ADQ-owned pharma firm <a target=\"_blank\" href=\"https:\/\/acino.swiss\/\" style=\"\" rel=\"noopener\">Acino<\/a> plans to expand its production capacity at its 1.3k sqm Dubai Science Park facility as well as its export footprint to GCC markets, Interim Head of Region, Middle East, Turkey, and Africa Mansoor Meenai told <a target=\"_blank\" href=\"https:\/\/gulfbusiness.com\/acino-eyes-growth-export-expansion-dubai-facility\/\" style=\"\" rel=\"noopener\">Gulf Business<\/a>, highlighting that the pharma market is \u201cexperiencing continuous growth, ample investment, and a strong interest in local manufacturing.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Acino has increased its annual production<\/strong> capacity to over 250 mn tablets and 87 mn capsules, aiming to secure a \u201ccontinuous sustainability in terms of volume increases in manufacturing that is critical to a site here,\u201d Meenai said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER-<\/strong> Acino was among the three ADQ-owned healthcare assets <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f7b10f4f-8e9c-48ae-b9f5-4f34be7927e3\/adq-consolidates-pharma-assets-to-establish-global-life-sciences-firm\" style=\"\" rel=\"noopener\">consolidated<\/a> under <a target=\"_blank\" href=\"https:\/\/www.arceralifesciences.com\/\" style=\"\" rel=\"noopener\">Arcera<\/a>, the sovereign wealth fund\u2019s new Abu Dhabi-based life sciences holding company. Arcera plans to double its revenues over the next five years through strategic acquisitions and global partnerships. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AzurX <\/strong><strong>+ MBRIF to launch space startup accelerator:<\/strong> The Mohammed Bin Rashid Innovation Fund (MBRIF) has partnered with Dubai-based satellite services firm <a target=\"_blank\" href=\"https:\/\/www.azurx.com\/\" style=\"\" rel=\"noopener\">AzurX<\/a> to attract global space startups to the UAE through a tailored six-month acceleration program, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3ew81k-mohammed-bin-rashid-innovation-fund-azurx-forge\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The program will support startups at various stages of development by helping them secure funding and facilitating networking with various UAE-based stakeholders. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">TECH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>India\u2019s Bajaj launches DIFC tech services hub: <\/strong><a target=\"_blank\" href=\"https:\/\/bajajfinserv-direct.in\/\" style=\"\" rel=\"noopener\">Bajaj Finserv Direct<\/a>, a subsidiary of Indian financial services conglomerate Bajaj Finserv, has inaugurated its technology services center in the Dubai International Financial Centre (DIFC), as part of it expansion plan into the Middle East, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/bajaj-finserv-direct-launches-me-technology-services-hub-at-difc-in-uae-piij6a6a\" style=\"\" rel=\"noopener\">press release<\/a>. The hub is set to offer scalable solutions, including enterprise applications, data engineering and analytics, gen-AI, and cloud services to key sectors such as financial services, retail, e-commerce, and government enterprises.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> EVS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Lucid expands into UAE: <\/strong>Saudi-backed EV maker <a target=\"_blank\" href=\"https:\/\/lucidmotors.com\/https:\/\/lucidmotors.com\/\" style=\"\" rel=\"noopener\">Lucid Group<\/a> has opened a new retail location in Dubai\u2019s City Walk, its first in the UAE and second in the Middle East, and will soon inaugurate a service center in Dubai Investment Park, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/lucid-expands-its-presence-in-the-middle-east-bringing-the-award-winning-lucid-air-to-the-united-arab-emirates-ct84wwud\" style=\"\" rel=\"noopener\">press release<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> LOGISTICS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Adani lands in African waters: <\/strong>UAE-based East Africa Gateway, a subsidiary of Indian port operator Adani Ports and Special Economic Zone (APSEZ), has signed a share purchase agreement to acquire 95% of <a target=\"_blank\" href=\"https:\/\/ticts.simplybook.me\/v2\/\" style=\"\" rel=\"noopener\">Tanzania International Container Terminal Services<\/a> for USD 39.5 mn from Hutchison Port Holdings and Harbors Investments, according to a <a target=\"_blank\" href=\"https:\/\/www.adaniports.com\/Newsroom\/Media-Releases\/Adani-Ports-signs-30-year-concession-to-operate-Container-Terminal-2-at-Dar-es-Salaam-Port\" style=\"\" rel=\"noopener\">statement<\/a> on Friday. The acquisition is part of a 30-year concession agreement between Adani International Ports Holdings and Tanzania Port Authority to manage and operate Container Terminal 2 at Tanzania\u2019s Dar es Salaam Port, the press release adds. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This marks Adani\u2019s first container terminal in Africa,<\/strong> and the third international port acquisition, including Israel\u2019s Haifa Port \u2014 which it purchased from the Israeli government in a <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/adani-led-group-completes-purchase-israels-haifa-port-2023-01-10\/\" style=\"\" rel=\"noopener\">USD 1.15 bn transaction<\/a> last year \u2014 and a <a target=\"_blank\" href=\"https:\/\/www.adaniports.com\/newsroom\/media-releases\/adani-ports-bolsters-its-global-footprint-with-colombo-ports-west-container-terminal\" style=\"\" rel=\"noopener\">terminal currently being developed<\/a> at Sri Lanka\u2019s Colombo Port. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- DP World debuts \u201ccars in containers\u201d on Mexico-US route: <\/strong>DP World has designed a 53-foot intermodal container with racking systems to transport cars via rail from Mexico to the United States and Canada, according to a <a target=\"_blank\" href=\"https:\/\/www.dpworld.com\/news\/releases\/dp-world-provides-new-finished-vehicle-solution-for-essential-mexico-united-states-trade-route\/\" style=\"\" rel=\"noopener\">press release<\/a>. The containers \u2014 which can take up to six vehicles \u2014 should enhance efficiency and reduce costs for original equipment manufacturers (OEMs) in Mexico.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The mechanisms: <\/strong>The service will load finished vehicles into containers directly at Mexican factories or specialized stuffing yards that are close to manufacturing hubs. The containers will then be transported into intermodal rail ramps and moved by rail to destinations including Los Angeles, Chicago, Detroit, and Toronto.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> FOOD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADAFSA + FAO launch biosecurity index:<\/strong> The Abu Dhabi Agriculture and Food Safety Authority (ADAFSA) and the Food and Agriculture Organisation (FAO) have launched the Integrated Biosecurity Index (IBI), a tool that measures global food security and biosecurity, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3fhn02-adafsa-fao-launch-integrated-biosecurity-index\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The IBI, which measures plant and animal health, food safety, and environmental protection, aims to improve biosecurity risk assessment for investors as well as foster international cooperation and knowledge sharing in biosecurity.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adnoc\/\">Adnoc<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/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\/difc\/\">DIFC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ega\/\">EGA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/enec\/\">Enec<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/evs\/\">EVs<\/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\/manufacturing\/\">MANUFACTURING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/pharma\/\">pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/socar\/\">Socar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/space\/\">space<\/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=\"92649\" 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=\"92649\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/03\/aramco-secondary-offering-sells-out-within-hours\/\">\r\n                            Aramco secondary offering sells out within hours                        <\/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\/06\/03\/aramco-secondary-offering-sells-out-within-hours\/\" 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 oil giant\u2019s offering met with sharp investor appetite and will see the transaction fully covered \u201cwithin the price range,\u201d <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/saudi-arabia-kicks-off-landmark-aramco-share-sale-raise-up-13-bln-2024-06-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing one of the banks working on the offering. Aramco had set a price range of SAR 26.70-29.00.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The oil giant is taking an additional 0.64% stake to market, or 1.5 bn ordinary shares, guiding on a price range of SAR 26.70-29.00 a piece, it said in <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\/investors\/share-offering\" style=\"\" rel=\"noopener\">a statement on Thursday<\/a>. Institutional book-building continues until this Thursday, 6 June, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/11.pdf\" style=\"\" rel=\"noopener\">a separate statement (pdf)<\/a>. The three-day subscription period for retail investors starts today and wraps this Wednesday for a minimum of 10 shares each with no upper limit. <\/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 final allocation of shares and the offering\u2019s final price will both be announced on Friday, 7 June, and trading on the newly sold shares will begin next Sunday, 9 June. Excess subscription amounts will be returned on Tuesday, 11 June. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors: <\/strong>SNB Capital is lead manager. HSBC, BofA, Citi, Goldman Sachs, JP Morgan, Morgan Stanley, Meryll Lynch, and SNB Capital will act as joint global coordinators, bookrunners and financial advisors. EFG Hermes KSA, Al Rajhi Capital, Riyad Capital, and Saudi Fransi Capital will act as domestic bookrunners. Meanwhile, M. Klein and Company and Moelis will act as independent financial advisors. Meryll Lynch will act as the stabilizing manager. White &amp; Case will act as Aramco\u2019s legal advisor. Pwc will act as auditor. <\/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 solidly in the green in early trading this morning. <\/strong>Of the major benchmarks we follow, only the Shanghai Composite is flat. US and European stock futures were up slightly overnight as western markets look forward to the first trading day in June. (Anybody else wondering where the first five months of the year went?)<\/p>\n<p><a target=\"_blank\" id=\"t.73737867cbdf48254fa3a8db07305d6076db7169\" 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-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>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\">8,863<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.3% (YTD: -7.5%)<\/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\">3,978<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: -2.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">3345<\/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: -12.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : AED<\/strong><strong> CBUAE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 3.67<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 3.67<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EIBOR<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.1% o\/n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.4% 1 yr<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Tadawul<\/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\">11,625<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.1% (YTD: -2.9%)<\/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\">26,870<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: +7.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,278<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.8% (YTD: +10.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,275<\/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: +8.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,984<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: +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 81.11<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.9%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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>Natural gas (Nymex) <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.59<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,346<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.9%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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 67,798<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +60.3%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The DFM rose 0.2% yesterday<\/strong> on turnover of AED 641.4 mn. The index is down 2% 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>Manazel (+12.9%), Eshraq (+6.0%) and EasyLease (+5.7%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Abu Dhabi National Co. for Building Materials (-9.8%), Rapco Investment (-9.4%) and Ghitha Holdings (-3.3%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over on the ADX<\/strong>, the index rose 1.3% on turnover of AED 2.15 bn. Meanwhile, Nasdaq Dubai rose 0.5%. <\/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><a target=\"_blank\" href=\"https:\/\/aafs.ae\/\" style=\"\" rel=\"noopener\">Al Ansari Financial Services<\/a><\/strong><strong> tapped Al Ramz Capital as a liquidity provider<\/strong> for its shares on DFM, Al Ramz said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/122.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a>. Al Ansari and BHM Capital had <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/edition\/am\/465a9cc4-db21-4ca6-844b-e7c80241986c\/more-on-dubai%25e2%2580%2599s-aed-40-bn-ppps#:~:text=BHM%20Capital%E2%80%99s%20contract%20as%20Al%20Ansari%20Financial%20Services%E2%80%99%20liquidity%20provider%20for%20its%20shares%20on%20the%20DFM%20will%20lapse%20on%2028%20June%2C%20according%20to%20a%20DFM%20disclosure%20(pdf).%20Both%20firms%20have%20mutually%20agreed%20not%20to%20extend%20it%20for%20another%20term.\" style=\"\" rel=\"noopener\">agreed<\/a> not to renew BHM\u2019s contract as Al Ansar\u2019s liquidity provider for another term past 28 June of this year.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/oil-and-gas\/\">oil and gas<\/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\/tadawul\/\">Tadawul<\/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=\"92651\" 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=\"92651\">\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\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/03\/uae-china-agree-to-boost-defense-and-renewables-cooperation\/\">\r\n                            UAE, China agree to boost defense and renewables cooperation                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/03\/uae-china-agree-to-boost-defense-and-renewables-cooperation\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The two countries also plan to cooperate on crude oil reserves and encourage Emirati and Chinese companies to coordinate in the fields of renewable energy, oil, natural gas, petrochemicals, oil storage, hydrogen, and ammonia. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The two countries also agreed to explore joint nuclear energy projects,<\/strong> including the construction of nuclear power stations and advancement of nuclear research and development. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Enec signs nuclear energy MoU with China: <\/strong>The Emirates Nuclear Energy Corporation (Enec) and the Chinese National Nuclear Energy Corporation <a target=\"_blank\" href=\"https:\/\/www.emaratalyoum.com\/business\/local\/2024-06-02-1.1857222\" style=\"\" rel=\"noopener\">signed an MoU<\/a> to cooperate on the \u201cpeaceful uses\u201d of nuclear energy, building on previous initiatives between the two institutions, including a 2023 MoU signed during COP28. The collaboration should see developments in nuclear energy technology, promising research on fourth-generation reactors, hydrogen production technology, and the use of nuclear energy in water desalination. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong><strong>Etihad Airways and Beijing Daxing <\/strong><strong>International Airport signed an agreement to increase cargo trips between the UAE and China<\/strong> as well as cooperate on technology initiatives to boost operational efficiency, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3fhn5t-etihad-airways-beijing-daxing-international\" style=\"\" rel=\"noopener\">Wam<\/a> reported separately. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The two sides also agreed to set up a committee to boost investments between the countries<\/strong>, Wam said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>UAE and China inked several MoUs during President Sheikh Mohamed bin Zayed Al Nahyan\u2019s two-day visit to Beijing to attend the Ministerial Meeting of the China-Arab States Cooperation Forum <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ae3d1096-b3c0-468b-b3ff-ace045576200\/uae-president-encourages-arab-chinese-cooperation-in-beijing-%2B-dual-tax-agreement-with-qatar#:~:text=UAE%20President%20Sheikh,and%20statistical%20cooperation.\" style=\"\" rel=\"noopener\">last week<\/a>. 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\">\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>Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan met with his Singaporean <\/strong><strong>counterpart<\/strong> Vivian Balakrishnan to discuss the strengthening of bilateral relations and comprehensive partnerships in economic, trade, investment, tourism, and education sectors, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3g332c-abdullah-bin-zayed-singapores-discuss-cooperation\" style=\"\" rel=\"noopener\">Wam<\/a> reports. They also addressed regional and international issues, including the ongoing regional tensions and humanitarian efforts in Gaza.<\/p>\n<p class=\"tag-border-left\">OTHER DIPLOMACY NEWS- <\/p>\n<ul>\n<li><strong>Qatari Emir visits the UAE to discuss regional developments:<\/strong> Sheikh Tamim bin Hamad Al Thani met with President Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi on Sunday, to review a number of regional and international issues, including the importance of ramping up efforts toward a ceasefire in Gaza. (<a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3goia0-uae-president-and-emir-qatar-discuss-fraternal\" style=\"\" rel=\"noopener\">Wam<\/a>) <\/li>\n<li><strong>Foreign Minister Abdullah bin Zayed Al Nahyan chaired the inaugural<\/strong><strong> BRICS Steering Committee meeting<\/strong>, held virtually. Al Nahyan reviewed the UAE\u2019s role within the bloc and proposed strategies to bolster its participation, aiming to enhance coordination among all member states. (<a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/13y2g85-abdullah-bin-zayed-chairs-first-meeting-brics\" style=\"\" rel=\"noopener\">Wam<\/a>)<\/li>\n<li><strong>The Foreign Minister praised US President Joe Biden\u2019s proposals to end <\/strong><strong>the War in Gaza <\/strong>during a call with US Secretary of State Antony Blinken. (<a target=\"_blank\" href=\"https:\/\/x.com\/OFMUAE\/status\/1796950875539493083\" 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\/brics\/\">Brics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/defense\/\">defense<\/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\/energy\/\">energy<\/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=\"92653\" 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\/06\/03\/92653-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92653\" class=\"content-area-description single-story post-92653 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 style=\"font-weight:400;\">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>Fuel prices down in June | Opec+ extends supply cuts, but UAE gets production boost | FAB and Yapi Kredi end takeover talks<\/p>\n","protected":false},"featured_media":92632,"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-92631","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"a265bce9-f92f-4fab-ade3-49372fb30a98","teaser":"Fuel prices down in June | Opec+ extends supply cuts, but UAE gets production boost | FAB and Yapi Kredi end takeover talks","photo_url":"https:\/\/ent.news\/2024\/4\/244.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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