{"id":92677,"date":"2024-06-04T00:00:00","date_gmt":"2024-06-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=92677"},"modified":"2025-12-15T00:32:05","modified_gmt":"2025-12-15T00:32:05","slug":"adnoc-ls-snaps-up-uk-pool-operator-for-usd-1-04-bn","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/adnoc-ls-snaps-up-uk-pool-operator-for-usd-1-04-bn\/","title":{"rendered":"Adnoc L&#038;S snaps up UK pool operator for USD 1.04 bn"},"content":{"rendered":"<section id=\"92679\" 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=\"92679\">\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\/04\/the-cost-of-floods-on-emirates-passenger-traffic-growth-etihads-ipo-and-more-from-iatas-annual-meeting\/\">\r\n                            THIS MORNING: The cost of floods on Emirates, passenger traffic growth, Etihad\u2019s IPO, and more from IATA\u2019s annual meeting                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/310.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92680\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/04\/the-cost-of-floods-on-emirates-passenger-traffic-growth-etihads-ipo-and-more-from-iatas-annual-meeting\/310-jpeg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/310.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"310.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/310.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/310.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92679\" class=\"content-area-description single-story post-92679 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-adgm tag-aviation tag-emirates-airlines tag-enterpriseam-uae tag-etihad-airways tag-iata tag-ipo tag-oil-watch tag-real-estate tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.e4302d80-458f-4016-abfe-f61b00069a97.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, friends. <\/strong>We have a mixed bag of news for you today, with plenty of investments in real estate and private credit leading the way \u2014 plus a bunch of forecasts for the airline industry as the IATA annual meeting draws to a close. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG STORY here at home is Adnoc Logistics & Services\u2019 USD 1.04 bn acquisition of UK-based pool operator Navig8. <\/strong>Also worth your attention: Abu Dhabi Investment Authority\u2019s latest private credit investment, which saw it anchor European asset manager Pemberton\u2019s NAV financing strategy, as well as Emaar\u2019s AED 1.5 bn plans to expand Dubai Mall. <\/p>\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>#1- Interest among real estate investors in Abu Dhabi, Sharjah, and Ras Al <\/strong><strong>Khaimah\u2019s property markets is picking up<\/strong> as property prices continue to soar in Dubai, partner and head of Mena research at real estate consultancy Knight Frank Faisal Durrani told <a target=\"_blank\" href=\"https:\/\/www.khaleejtimes.com\/uae\/as-dubai-property-prices-peak-demand-for-affordable-real-estate-rises-in-other-emirates\" style=\"\" rel=\"noopener\">Khaleej Times<\/a>. Also helping spur interest are infrastructure investments and new development launches like <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/3a6c6d90-e46a-4a73-95c9-ebdd5e5ded28\/fitch-upgraded-ras-al-khaimah%25e2%2580%2599s-issuer-default-rating-with-a-stable-outlook\" style=\"\" rel=\"noopener\">Wynn Resorts\u2019 plans<\/a> to develop the first integrated gaming resort in the MENA region in Ras Al Khaimah at USD 3.9 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Residential prices in Abu Dhabi have remained relatively flat over the past four years<\/strong>, Durrani says, adding that \u201cthis stability, combined with the fact that prices in Abu Dhabi are, on average, about a third cheaper than Dubai, [\u2026] has contributed to rising transactional activity,\u201d with the emirate logging a 75% y-o-y surge in total transactions in 2023, against neighboring Dubai\u2019s 38% y-o-y increase in the same period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Stable prices in Abu Dhabi are also pushing tenants to ditch rentals for ownership of properties, <\/strong>according to Durrani. \u201cInternational demand too has crept up, with the proportion of international buyers [\u2026] for Aldar\u2019s home sales rising from 3% two years ago to 28% last year.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>We had <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/8186ca5e-a0d1-4a7b-940a-ae38d27383b3\/high-net-worth-individuals-to-pour-usd-4.4-bn-into-dubai%25e2%2580%2599s-property-market-%25e2%2580%2593knight-frank\" style=\"\" rel=\"noopener\">detailed coverage<\/a> of Knight Frank\u2019s Destination Dubai report last month, which dives into investor sentiment for the three emirates among high net worth individuals. <\/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>#2- Emirates Airlines is reviewing its contingency plans after the April floods cost it AED <\/strong><strong>400 mn <\/strong>in damages and claims, Emirates chief Tim Clark told a media briefing at the International Air Transport Association (IATA) meeting in Dubai, according to <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/business\/aviation\/2024\/06\/03\/emirates-boss-says-record-uae-rain-cost-airline-110-million\/\" style=\"\" rel=\"noopener\">the National<\/a>. \u201cWe've got to be far more aggressive, if you can call it that, and if necessary, stop the operations and [grapple] with all the fallout,\u201d he said. The airline needs to spend more on manpower, ground equipment, and training in order to be more prepared if a similar crisis happens again, Clark added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Etihad Airways is pushing forward with plans for its IPO on the ADX<\/strong>, with the company \u201cworking very hard to make it happen whenever it is the time,\u201d Etihad CEO Antonoaldo Neves told Bloomberg in an interview (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/videos\/2024-06-03\/etihad-ceo-preparing-for-ipo-working-on-transparency-video\" style=\"\" rel=\"noopener\">watch, runtime: 4:34<\/a>). Etihad owners told Neves to run the company as if it were listed, he adds in the interview. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> ADQ is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/edition\/uae\/15137683-1576-4c48-831e-f813656e222f\" style=\"\" rel=\"noopener\">considering listing Etihad<\/a> on the public market \u201cas soon as this year,\u201d with the specific timing and size of the offering still undecided. ADQ is eyeing going after both a traditional IPO and direct listing, and has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/fb6668e9-b741-4d46-90fd-c0709ca49bf5\/%253cmark%253eetihad-airways%253c%2Fmark%253e-moves-forward-with-planned-ipo\" style=\"\" rel=\"noopener\">tapped banks<\/a> to advise on its planned IPO on the ADX. Etihad would be the first major Gulf carrier to trade publicly if the IPO goes through.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#4- ADGM to overhaul property regulations: <\/strong>The Abu Dhabi Global Market (ADGM) has proposed amendments and new rules to its real property regulatory framework in a recently published <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/234.pdf\" style=\"\" rel=\"noopener\">consultation paper (pdf)<\/a>. These regulatory updates aim to \u201caddress market needs and ensure [that ADGM] stays aligned with market developments,\u201d the financial center said in a <a target=\"_blank\" href=\"https:\/\/www.adgm.com\/media\/announcements\/adgm-publishes-a-consultation-paper-on-the-comprehensive-revamp-of-its-real-property-regulations\" style=\"\" rel=\"noopener\">statement<\/a>. ADGM has published the paper to gather feedback from all ADGM-based organizations and investors on the proposed regulations, with the deadline for submitting comments set for 19 June.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What is ADGM proposing? <\/strong><\/p>\n<ul>\n<li>Amending the real property regulations of 2015 to enhance tenant protection in short-term residential leases and close legislative gaps as it expands into Al Reem Island;<\/li>\n<li>Establishing a new system for registering off-plan development projects;<\/li>\n<li>Introducing a framework for registering off-plan and property professionals, including brokers, property managers, and valuers who operate within ADGM\u2019s jurisdiction.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>The UAE and the GCC regions\u2019 passenger traffic is poised to grow 4% y-o-y between now <\/strong><strong>and the end of the decade<\/strong><strong>, <\/strong><a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3h9y4v-iata-projects-annual-growth-passenger-traffic-uae\" style=\"\" rel=\"noopener\">Wam<\/a> cites regional Vice President for Africa and the Middle East at International Air Transport Association (IATA) Kamil Al Awadhi as saying. The projected growth is set to be driven by several upcoming projects in the region, including the expansion of <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\">Al Maktoum International Airport<\/a>, the launch of a new airport in Kuwait, and forthcoming projects from Saudi Arabia. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The IATA expects Middle East airlines to rake in USD 3.8 bn in net income in 2024, <\/strong>up from the previously forecast USD 3.1 bn, the association said in its latest <a target=\"_blank\" href=\"https:\/\/www.iata.org\/en\/pressroom\/2024-releases\/2024-06-03-01\/\" style=\"\" rel=\"noopener\">outlook report<\/a>. The IATA attributed the upwards revision to the Mena region\u2019s robust economies. While geopolitical risks could jeopardize Levant carriers\u2019 growth, GCC airlines will remain \u201crelatively less impacted unless tensions between Iran and Israel escalate.\u201d Domestically, the UAE \u201ccontinues to benefit from its attractiveness to both leisure and business travelers,\u201d the IATA notes.<\/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\">OIL WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#1- UAE oil output tops OPEC+ quota in May, Bloomberg survey shows: <\/strong>The UAE\u2019s oil output reached 3.13 mn barrels per day (bbl \/ d) in May, exceeding its Opec+ designated production quota by some 218 mn barrels, a <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-03\/opec-s-crude-production-steady-while-key-members-flout-quotas\" style=\"\" rel=\"noopener\">Bloomberg<\/a> survey found. However, official data from the oil cartel shows that the UAE was compliant with its assigned quota. Opec+ collectively pumped 26.96 mn bbl \/ d throughout May, marking an uptick of 60k barrels from April. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER - Opec+ <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/54d158d4-5a72-498f-9604-196685f72a65\/opec%2B-extends-supply-cuts,-granting-the-uae-a-higher-production-quota-for-2025\" style=\"\" rel=\"noopener\">agreed<\/a><\/strong><strong> to extend most of their crude oil production cuts well into 3Q 2024<\/strong>, maintaining the current production cuts of 3.66 mn bb \/ d. The UAE was granted a higher production quota of 3.5 mn bbl \/ d in 2025, up from the current 2.9 mn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong><strong>Opec+<\/strong><strong> may be hinting at a shift in its production policy<\/strong> as the fine print on its latest decision reveals it will gradually phase-out output cuts as early as October 2024, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/opinion\/articles\/2024-06-03\/opec-says-goodbye-to-its-100-a-barrel-oil-quest\" style=\"\" rel=\"noopener\">Bloomberg\u2019s Javier Blas<\/a>. This could either mean the group is reversing its course, growing eager to pump more oil into the market, or strategically shifting away from its USD 100-a-barrel oil target, Blas wrote. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Giving up the quest for \u201ctriple-digit prices\u201d would not be a mistake<\/strong>, he added, saying that \u201csomewhat lower prices could help it in the long-term: by easing global inflation and therefore prompting lower interest rates and higher economic growth in emerging economies; and by removing the implicit subsidy that OPEC+ was granting to its US shale rivals.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There is no telling whether the market can digest more oil: <\/strong>Opec\u2019s planned phase-out is sparking debate among pundits about whether market conditions are ready to absorb the group\u2019s extra barrels, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-02\/opec-has-outline-deal-extending-key-oil-production-cuts\" style=\"\" rel=\"noopener\">Bloomberg reports<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong><strong>Opec+<\/strong><strong> extended crude oil production cuts <\/strong>during its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/edition\/am\/32c67b87-a1a9-43a2-bba0-acc64f3e6962\/aramco-book-is-fully-covered-in-first-hours,-will-close-on-thursday\/23b2bb82-242d-42f7-a587-6812413add07\" style=\"\" rel=\"noopener\">meeting in Riyadh on<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/edition\/am\/32c67b87-a1a9-43a2-bba0-acc64f3e6962\/aramco-book-is-fully-covered-in-first-hours,-will-close-on-thursday\/23b2bb82-242d-42f7-a587-6812413add07\" style=\"\" rel=\"noopener\">Sunday<\/a>. Production will remain unchanged until the end of this September, when the group will begin phasing out cuts over a 12-month period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oil prices fell over 3% yesterday <\/strong>to their <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/oil-prices-slip-despite-opec-production-cut-extension-2024-06-03\/\" style=\"\" rel=\"noopener\">lowest in close to four<\/a><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/oil-prices-slip-despite-opec-production-cut-extension-2024-06-03\/\" style=\"\" rel=\"noopener\">months<\/a> as traders reacted to the Opec+ meeting.<\/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\"> HAPPENING TODAY- <\/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-<\/strong> <strong>The World Air Transport Summit and International Air Transport Association (IATA) wraps<\/strong><strong> its annual general meeting and the World Air Transport Summit <\/strong>today. 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 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.thehotelshow.com\/event-info\/\" style=\"\" rel=\"noopener\">The Hotel Show<\/a><\/strong><strong> kicks off today at the Dubai World Trade Centre and runs <\/strong><strong>through to Thursday, 6 June. <\/strong>The three-day event welcomes visitors from across the hospitality supply chain to source products from global and regional exhibitors and discuss developments within the industry.<\/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>S&P Global will publish PMI figures for May next Wednesday.<\/strong> The non-oil sector continued to expand in April, though at a slightly slower pace due to the impacts of the storm. <\/p>\n<p class=\"tag-border-left\"> THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Tension between besties Russia and China? <\/strong>The <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/f7a34e3e-bce9-4db9-ac49-a092f382c526\" style=\"\" rel=\"noopener\">Financial Times<\/a> is picking up on growing tension between Russia and its closest ally China, after Beijing asked to purchase Russian gas at heavily subsidized domestic prices, endangering a major gas pipeline agreement between the two countries. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Closer to home: Israel\u2019s coalition government has <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/c3847778-23b0-4743-afb4-a1999f8d7318\" style=\"\" rel=\"noopener\">fallen into infighting<\/a><\/strong> over a proposed ceasefire plan \u2014 and <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/06\/03\/world\/middleeast\/egypt-corridor-israel-gaza-border.html\" style=\"\" rel=\"noopener\">relations between Cairo and Tel Aviv are ever more frosty<\/a> after Israel \u201cdefied\u201d Egyptian warnings and took control of the Philadelphi Corridor.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>YOUR DAILY DOSE OF ELECTION COVERAGE- <\/strong>Nigel Farage, the former leader of the UK\u2019s Independence Party and a Brexiteer, will be running in next month\u2019s UK general election. Farage \u201chas been one of the most influential politicians in Britain since the Thatcher era,\u201d <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/politics\/article\/2024\/jun\/03\/nigel-farage-a-potted-history-of-his-political-career-on-the-road-to-reform\" style=\"\" rel=\"noopener\">the Guardian writes<\/a> in a profile about the politician. The general election will take place on 4 July \u2014 Labour is looking to form its first government since May 2010.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Mexican voters have elected Claudia Sheinbaum as the nation\u2019s first woman president. <\/strong>She looks on track to claim a 30 percentage point margin of victory, giving her the opportunity to \u201creshape the country\u2019s political landscape\u201d together with her allies, the <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/06\/03\/world\/americas\/mexico-election-morena-results.html\" style=\"\" rel=\"noopener\">New York Times<\/a> notes. <strong>Some investors are spooked<\/strong>, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/530cb4eb-fedc-44e4-afd4-a75084b2297a\" style=\"\" rel=\"noopener\">Financial Times<\/a> writes, noting some have \u201csold the peso on fears of radical constitutional change.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FINALLY- The rich be getting richer: <\/strong>Half of the CEOs running S&P 500 companies <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/ceo-pay-compensation-ratio-workers-fa25db3338b68ad9eb395dfd46190383\" style=\"\" rel=\"noopener\">surveyed<\/a><a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/ceo-pay-compensation-ratio-workers-fa25db3338b68ad9eb395dfd46190383\" style=\"\" rel=\"noopener\">by AP<\/a> made at least 196x what their median employee earned last year, up from 185x in 2022. Data from the newswire also showed that CEOs\u2019 median pay package rose 12.6% to USD 16.3 mn in 2023, while wages of private sector workers rose just 4.1% during the same period. <\/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 style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> CIRCLE YOUR CALENDAR- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/retreat.dub.ai\/en\/\" style=\"\" rel=\"noopener\">AI Retreat<\/a><\/strong><strong> is set to take place on 11 June at Dubai\u2019s Museum of the Future,<\/strong> according to a Dubai Media Office <a target=\"_blank\" href=\"https:\/\/mediaoffice.ae\/en\/news\/2024\/june\/03-06\/dubai-ai-retreat\" style=\"\" rel=\"noopener\">statement<\/a>. Organized by the Dubai Centre for Artificial Intelligence, the event will gather over 1k AI experts, policymakers and business leaders to explore the potential and challenges of AI at both local and global levels. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adgm\/\">ADGM<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/aviation\/\">Aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> 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href=\"https:\/\/enterpriseam.com\/uae\/tag\/real-estate\/\">Real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/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=\"92681\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n    <div 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class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/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\/04\/adnoc-ls-acquires-80-of-navig8-for-usd-1-04-bn\/\">\r\n                            Adnoc L&amp;S acquires 80% of Navig8 in USD 1.04 bn                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1988.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92683\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/04\/adnoc-ls-acquires-80-of-navig8-for-usd-1-04-bn\/1988-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1988.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1988.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1988.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1988.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92682\" class=\"content-area-description single-story post-92682 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-adnoc-logistics-services tag-enterpriseam-uae tag-ma tag-ma-watch tag-uae 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\/.bef1b4e3-7454-4588-bc3e-b143b584476a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Adnoc L&S snaps up Navig8: <\/strong>Adnoc L&S is acquiring multinational shipping pool operator Navig8 in a USD 1.04 bn transaction, with transfer ownership retroactively effective from 1 January 2024, according to a <a target=\"_blank\" href=\"https:\/\/adnocls.ae\/en\/news-and-media\/press-releases\/2024\/adnoc_ls-to-acquire-navig8\" style=\"\" rel=\"noopener\">press release<\/a>. The company will snap up an 80% stake for USD 1.04 bn now, before buying the remaining 20% stake in Navig8 in 2027 for an additional consideration ranging from USD 335 mn to USD 450 mn. The agreement is pending regulatory approval, the statement said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The acquisition will see Navig8 retain its management, operations, and branding<\/strong>, the statement also said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A boon for Adnoc L&S:<\/strong> The first full financial year following the acquisition is expected to see a minimum 20% boost to Adnoc L&S\u2019 earnings per share, the statement said. The acquisition is also expected to save Adnoc L&S some USD 100 mn per year in technical management costs and costs associated with bunkering operations, the statement explained. The acquisition will also boost Adnoc L&S\u2019 services portfolio to include bunker trading, pooling and other services, and expand its footprint to Navig8\u2019s 15 global locations. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All part of the big post-IPO plan:<\/strong> The latest acquisition comes as part of an expansion strategy unveiled ahead of Adnoc L&S\u2019 landmark <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/ac69af8c-3fcc-44df-9a3b-8fabb3b50291\" style=\"\" rel=\"noopener\">USD 769 mn IPO last year<\/a>, which will see it shell out <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/7d3322dc-3aba-4228-bd84-1f3f75ea73c9\/%253cmark%253eadnoc%253c%2Fmark%253e-l&s%25e2%2580%2599s-net-income-surged-34%2525-y-o-y-in-1q-2024\" style=\"\" rel=\"noopener\">USD 5 bn in investments<\/a> in the medium term, the statement said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Navig8: <\/strong>Established in 2007, <a target=\"_blank\" href=\"https:\/\/www.navig8group.com\/about-us\/\" style=\"\" rel=\"noopener\">Navig8<\/a> is a fully integrated shipping management service provider. Apart from a company-owned 32 vessel tanker fleet, the outfit also operates and charters other vessels. <\/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-logistics-services\/\">Adnoc Logistics &amp; Services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma\/\">M&amp;A<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/uae\/\">UAE<\/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=\"92684\" 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=\"92684\">\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\">INVESTMENT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/04\/adia-to-anchor-european-private-credit-fund\/\">\r\n                            ADIA to back Europe-based Pemberton Asset Management                        <\/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\/04\/adia-to-anchor-european-private-credit-fund\/\" 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\/04\/adia-to-anchor-european-private-credit-fund\/')\">\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\/04\/adia-to-anchor-european-private-credit-fund\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=ADIA to anchor European private credit fund&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/04\/adia-to-anchor-european-private-credit-fund\/\">\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\/04\/adia-to-anchor-european-private-credit-fund\/&title=ADIA to anchor European private credit fund\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=ADIA+to+anchor+European+private+credit+fund+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F04%2Fadia-to-anchor-european-private-credit-fund%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\/04\/adia-to-anchor-european-private-credit-fund\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/271.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92685\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/04\/adia-to-anchor-european-private-credit-fund\/271-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/271.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"271.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/271.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/271.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92684\" class=\"content-area-description single-story post-92684 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-abu-dhabi-investment-authority tag-enterpriseam-uae tag-investment-watch tag-private-equity 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\/.3554bab4-6f78-4da4-aac1-14bba04b7ba8.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Adia backs Pemberton\u2019s NAV financing fund:<\/strong> An Abu Dhabi Investment Authority (ADIA) wholly-owned subsidiary will serve as anchor investor for European private credit manager <a target=\"_blank\" href=\"https:\/\/pembertonam.com\/\" style=\"\" rel=\"noopener\">Pemberton Asset Management\u2019s<\/a> new NAV strategic financing strategy, according to a <a target=\"_blank\" href=\"https:\/\/pembertonam.com\/news\/adia-anchors-pembertons-new-nav-financing-strategy\/\" style=\"\" rel=\"noopener\">statement<\/a>. The exact size of the investment was not disclosed, but is expected to edge the strategy\u2019s first close to over USD 1 bn, alongside commitments from other undisclosed investors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Uh, Enterprise, what\u2019s NAV financing? <\/strong>NAV loans \u2014 which leverage investment portfolios to access financing \u2014 are a non-dilutive tool that can boost liquidity for an illiquid fund, especially at later stages in its cycle. This form of financing is becoming increasingly popular among private equity players as traditional forms of capital-raising become harder to access. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the strategy: <\/strong>The strategy offers net asset value financing and capital for private equity general partners (GPs) and funds, with a focus on backing fund commitments, succession planning, strategic initiatives, and portfolio company investments, including bolt-on acquisitions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\u201cNAV financing is one of the fastest growing asset classes in private credit, and we are confident Pemberton's new strategy will prove attractive to a broad range of GPs,\u201d ADIA private equities department\u2019s executive director, Hamad Shahwan Aldhaheri, said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADIA \u2764\ufe0f private credit: <\/strong>ADIA recently poured <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f63d2de3-6c33-4583-b209-498f1de2767e\/adia-earmarks-usd-1-bn-for-barclays,-agl-private-credit-vehicle\" style=\"\" rel=\"noopener\">USD 1 bn<\/a> into Barclays and AGL Credit Management\u2019s new private credit fund, and ramped up its commitment to London-based alternative asset manager Cheyne Capital\u2019s capital solutions strategy to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/52c6f77d-af6f-4b4b-a6cc-2c73c8650cf6\/adia-boosts-investment-in%253cmark%253e-private-credit-%253c%2Fmark%253ewith-fresh-commitment-to-cheyne-capital\" style=\"\" rel=\"noopener\">GBP 650 mn<\/a>. The state investor previously ventured into private credit in September, backing a <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/finance\/centerbridge-teams-up-with-wells-fargo-launch-direct-lending-fund-2023-09-26\/\" style=\"\" rel=\"noopener\">USD 5 bn fund<\/a> launched by Wells Fargo alongside asset manager Centerbridge and making a <a target=\"_blank\" href=\"https:\/\/globalswf.com\/news\/adia-continues-abu-dhabi-s-global-private-credit-push\" style=\"\" rel=\"noopener\">USD 932 mn investment<\/a> in Australian real estate private credit company Qualitas Diversified Credit Investments.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi-investment-authority\/\">Abu Dhabi Investment Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/private-equity\/\">private equity<\/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=\"92686 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=\"92686\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/04\/92686-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92686\" class=\"content-area-description single-story post-92686 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=\"92687\" 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=\"92687\">\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\">INVESTMENT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/04\/emaar-earmarks-aed-1-5-bn-for-dubai-mall-expansion\/\">\r\n                            Emaar earmarks AED 1.5 bn for Dubai Mall expansion                        <\/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\/04\/emaar-earmarks-aed-1-5-bn-for-dubai-mall-expansion\/\" 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 expansion will see Emaar add 240 new luxury retail stores and F&B outlets to the world\u2019s second largest mall. While the name of the contractor was not disclosed, construction on the expansion is expected to commence soon, according to the statement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What was said:<\/strong> \u201cThe new Dubai Mall expansion is a great addition to one of the most visited sites in the world. This expansion reflects Dubai\u2019s ambitious vision to remain at the forefront of global innovation and culture, further solidifying our city\u2019s position as a top global destination,\u201d Emaar founder Mohamed Alabbar said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Dubai Mall: <\/strong>Spanning over 1.2 mn sq-m, Emaar\u2019s premium shopping center is the world\u2019s second largest shopping mall \u2014 trailing behind the New South China Mall \u2014 boasting over 1.2k stores. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI<\/strong>- Dubai Mall was the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/1df88b67-65ed-4f3c-8731-1db60befa91a\/efg-hermes-one-on-one,-day-three-%2B-sharjah-airport-expansion-plans-will-be-announced-today#:~:text=%232%2DDubai%20Mall%20was%20the%20most%20visited%20place%20in%20the%20world%20in%202023%3A%20Emaar%E2%80%99s%20premium%20shopping%20mall%20welcomed%20105%20mn%20visitors%20in%202023%2C%20marking%20a%2019%25%20increase%20from%20the%20previous%20year%27s%2088%20mn%20footfalls%2C%20the%20Dubai%20Media%20Office%20reports.\" style=\"\" rel=\"noopener\">most visited place in the world<\/a> in 2023, attracting 105 mn visitors, a 19% increase from the previous year's 88 mn.<\/p>\n<p class=\"tag-border-left\"> IN OTHER INVESTMENT NEWS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai-based real estate developer <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.tabeer.ae\/\" style=\"\" rel=\"noopener\">Tabeer Development<\/a><\/strong><strong> is set to invest AED 1 bn in its <\/strong><strong>projects this year<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.albayan.ae\/economy\/uae\/2024-06-03-1.4882935\" style=\"\" rel=\"noopener\">Al Bayan<\/a> reports. The developer is also set to deliver two projects this year: 48 Parkside in Arjan and 99 Park Place in Jumeirah Circle Village. It also just announced plans to complete a high-end development in Arjan \u2014 Parkside Boulevard \u2014 by 4Q 2026.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Svarn Developments, founded by real estate veteran Ramesh Aswani, plans to invest <\/strong><strong>some USD 500 mn in the UAE\u2019s real estate market<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.albayan.ae\/economy\/uae\/2024-06-03-1.4882931\" style=\"\" rel=\"noopener\">Al Bayan<\/a> reports citing the real estate company\u2019s chairman Ramesh Aswani. The company is targeting key areas like Dubai South, Majan, and Dubai Marina. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai-mall\/\">Dubai Mall<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/emaar-properties\/\">Emaar Properties<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/retail\/\">retail<\/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=\"92689\" 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=\"92689\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/04\/mashreq-kicks-off-sale-of-at1-bonds\/\">\r\n                            Mashreq kicks off sale of AT1 bonds                        <\/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\/04\/mashreq-kicks-off-sale-of-at1-bonds\/\" 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\/04\/mashreq-kicks-off-sale-of-at1-bonds\/')\">\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\/04\/mashreq-kicks-off-sale-of-at1-bonds\/\">\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=Mashreq kicks off sale of AT1 bonds&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/04\/mashreq-kicks-off-sale-of-at1-bonds\/\">\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\/04\/mashreq-kicks-off-sale-of-at1-bonds\/&title=Mashreq kicks off sale of AT1 bonds\">\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=Mashreq+kicks+off+sale+of+AT1+bonds+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F04%2Fmashreq-kicks-off-sale-of-at1-bonds%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\/04\/mashreq-kicks-off-sale-of-at1-bonds\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2673.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92690\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/04\/mashreq-kicks-off-sale-of-at1-bonds\/2673-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2673.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2673.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2673.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2673.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92689\" class=\"content-area-description single-story post-92689 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-banking tag-debt tag-debt-watch tag-eagle-hills tag-enterpriseam-uae tag-mashreq tag-real-estate wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.8e638259-ef29-48e5-b8ba-981c4897159b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Our friends at Mashreq have started selling their benchmark-sized, <\/strong><strong>USD-denominated additional tier 1 (AT1) bonds<\/strong> with initial pricing expected to be in the high 7% range, <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/markets\/currencies\/mashreqbank-starts-selling-at1-notes-document-shows-y9l5nako\" style=\"\" rel=\"noopener\">Reuters<\/a> reported yesterday, citing an arranging document it saw. Mashreq plans to raise USD 500 mn from the issuance, which was expected to see the final price set later yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Mashreq hired banks to advise on the issuance <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/209a156c-03e2-4f8f-8fb4-0a10e4155c42\/mashreq-bank-taps-banks-for%253cmark%253e-at1%253c%2Fmark%253e-bond-issuance\" style=\"\" rel=\"noopener\">last week<\/a>. The bonds will be perpetual and non-callable for 5.5 years, meaning Mashreq can\u2019t redeem them during that period except by paying a penalty.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Uh, Enterprise, what are AT1 bonds? <\/strong>They\u2019re a common way banks raise core tier-one capital without diluting shareholders by raising equity. Additional tier one certificates (or just \u201cAT1 certificates\u201d) are a form of subordinated debt \u2014 they rank behind other types of bank debt in case of liquidation. That makes them riskier than senior debt, but still prioritizes them above equity holders. AT1 certificates are \u201cperpetual\u201d in that they have no fixed maturity date. They pay interest in much the same way as a bond does, but usually can be converted into equity in some circumstances \u2014 that\u2019s why they\u2019re often called CoCos in the industry, for \u201ccontingent convertibles.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> Mashreq has appointed Abu Dhabi Commercial Bank, Al Ahli Bank of Kuwait\u2019s DIFC branch, BofA Securities, Citi, Emirates NBD Capital, FAB, Kamco Investment Company, Mashreq, and Mizuho as joint lead managers and joint bookrunners.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">IN OTHER MASHREQ NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bank also facilitated a BD 130 mn (USD 343 mn) dual currency real estate financing <\/strong><strong>facility<\/strong> for Abu Dhabi-based Eagle Hills Diyar's Marassi Al Bahrain project, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/238.pdf\" style=\"\" rel=\"noopener\">press release<\/a>. The funds will be used to offer more residential offerings and leisure facilities at the development. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> Mashreq acted as the sole coordinator, bookrunner, investment manager, security agent, and account bank on the transaction. It also underwrote and arranged the facility along with Kuwait Finance House \u2013 Bahrain.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt-watch\/\">DEBT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/eagle-hills\/\">Eagle Hills<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/mashreq\/\">Mashreq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/real-estate\/\">Real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92691\" 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=\"92691\">\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\">HEALTHCARE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/04\/burjeel-sets-up-healthcare-jv-in-ksa-with-plans-to-expand-to-mena\/\">\r\n                            Burjeel sets up healthcare JV with Colombian health organization                        <\/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\/04\/burjeel-sets-up-healthcare-jv-in-ksa-with-plans-to-expand-to-mena\/\" 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\/04\/burjeel-sets-up-healthcare-jv-in-ksa-with-plans-to-expand-to-mena\/')\">\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\/04\/burjeel-sets-up-healthcare-jv-in-ksa-with-plans-to-expand-to-mena\/\">\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=Burjeel sets up healthcare JV in KSA, with plans to expand to MENA&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/04\/burjeel-sets-up-healthcare-jv-in-ksa-with-plans-to-expand-to-mena\/\">\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\/04\/burjeel-sets-up-healthcare-jv-in-ksa-with-plans-to-expand-to-mena\/&title=Burjeel sets up healthcare JV in KSA, with plans to expand to MENA\">\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=Burjeel+sets+up+healthcare+JV+in+KSA%2C+with+plans+to+expand+to+MENA+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F04%2Fburjeel-sets-up-healthcare-jv-in-ksa-with-plans-to-expand-to-mena%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\/04\/burjeel-sets-up-healthcare-jv-in-ksa-with-plans-to-expand-to-mena\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/268.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92692\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/04\/burjeel-sets-up-healthcare-jv-in-ksa-with-plans-to-expand-to-mena\/268-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/268.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"268.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/268.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/268.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92691\" class=\"content-area-description single-story post-92691 post type-post status-publish format-standard has-post-thumbnail hentry category-healthcare tag-burjeel tag-enterpriseam-uae tag-healthcare tag-investment tag-saudi-arabia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.f6ec1482-8650-49a8-846e-2812dc0843b6.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>UAE\u2019s Burjeel Holdings and Colombia\u2019s Keralty set up <\/strong><strong>JV:<\/strong> Healthcare provider Burjeel Holdings and Colombia\u2019s <a target=\"_blank\" href=\"https:\/\/www.keralty.com\/en\/home\" style=\"\" rel=\"noopener\">Keralty<\/a> set up a joint venture, dubbed Al Kalma, to develop and operate an integrated healthcare system for cost-efficient healthcare in the MENA region, according to a <a target=\"_blank\" href=\"https:\/\/adxservices.adx.ae\/cdn\/contentdownload.aspx?doc=3167965\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The project will first begin operations in Saudi Arabia, with plans to expand to the UAE and North Africa later down the line. It will also evaluate options for countries beyond the region, the statement said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ownership breakdown: <\/strong>Burjeel Holdings and Keralty will each hold an equal 50% shareholding in the JV. The investments associated with the JV were not disclosed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> The JV will operate specialized primary care centers and offer health risk management services and integrated mental health services, with a target to reach nearly 30 mn patients over the next decade. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Burjeel Holdings is the first Emirati company to form a joint venture with a Colombian healthcare institution<\/strong>, which comes after the two countries <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/7fe33ad7-2474-409b-b42e-6f605d19bdfa\/uae-and%253cmark%253e-colombia%253c%2Fmark%253e-ink-trade-and-economic-agreement.-plus:-new-eu-gcc-climate-platform-and-bin-zayed-phones-iranian-fm\" style=\"\" rel=\"noopener\">inked<\/a> a comprehensive economic partnership agreement <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Keralty: <\/strong>Keralty is a multinational health organization based in Colombia, with operations in nine countries, including the US, Brazil and Peru. <\/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\/burjeel\/\">Burjeel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/healthcare\/\">Healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment\/\">investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92693\" 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=\"92693\">\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\">REGULATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/04\/good-news-for-stablecoin-investors\/\">\r\n                            DFSA eases regulations around unrecognized crypto tokens and stablecoins                        <\/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\/04\/good-news-for-stablecoin-investors\/\" 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\/04\/good-news-for-stablecoin-investors\/')\">\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\/04\/good-news-for-stablecoin-investors\/\">\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=Good news for stablecoin investors&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/04\/good-news-for-stablecoin-investors\/\">\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\/04\/good-news-for-stablecoin-investors\/&title=Good news for stablecoin investors\">\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=Good+news+for+stablecoin+investors+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F04%2Fgood-news-for-stablecoin-investors%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\/04\/good-news-for-stablecoin-investors\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/337.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92694\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/04\/good-news-for-stablecoin-investors\/337-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/337.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"337.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/337.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/337.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92693\" class=\"content-area-description single-story post-92693 post type-post status-publish format-standard has-post-thumbnail hentry category-regulation-watch tag-crypto tag-dfsa tag-dubai-international-finance-center tag-enterpriseam-uae tag-regulation-watch tag-trading 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\/.2d5b8702-2477-4dcc-9fcd-12039c9f2543.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Dubai Financial Services Authority (DFSA) amended its crypto token<\/strong><strong> regime <\/strong>based on recommendations from a January consultation paper, it said in a <a target=\"_blank\" href=\"https:\/\/www.dfsa.ae\/news\/dfsa-enhances-its-crypto-token-framework-fostering-innovation\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. The amendments offer more flexible regulations for investing in unrecognized crypto tokens, reduce fees on investments, and implement more stringent anti-money laundering rules.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Breakdown of the key amendments:<\/strong><\/p>\n<ul>\n<li><strong>Reduced fees:<\/strong> The application fee for a crypto token to be recognized by the DFSA is now USD 5k, down from the previous USD 10k, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/236.pdf\" style=\"\" rel=\"noopener\">appendix 5 (pdf)<\/a>.<\/li>\n<li><strong>Money laundering rules:<\/strong> Crypto businesses will have to implement stringent anti-money laundering policies for token transactions by closely monitoring transactions, reporting suspicious activities, and conducting due diligence on transfers exceeding USD 1k to ensure regulatory compliance and assess associated risks, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/243.pdf\" style=\"\" rel=\"noopener\">appendix 4 (pdf)<\/a>.<\/li>\n<li><strong>External and foreign funds based in now have more freedom to invest in recognized tokens<\/strong>, while domestic qualified investor funds can invest up to 30% of their gross asset value in unrecognized tokens, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/235.pdf\" style=\"\" rel=\"noopener\">appendix 1 (pdf)<\/a>. The recognized tokens are Bitcoin, Ether, Litecoin, XRP, and Toncoin.<\/li>\n<li><strong>The regulation of fiat crypto tokens:<\/strong> The fresh regulations for fiat-backed Crypto Tokens \u2014 also known as stablecoins \u2014 demand reserves matching or exceeding the token's total value, in the same fiat currency, composed of stable, liquid, diversified, and low-risk assets. These reserves must undergo daily valuation, with monthly reports confirming compliance, all verified by an independent, qualified third party.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- The Central Bank of the UAE\u2019s board greenlit the introduction of a licensing and <\/strong><strong>regulatory system for stable cryptocurrencies, <\/strong>along with a series of measures geared towards supporting the banking, ins. and financial infrastructure sectors, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3h9y1x-chaired-mansour-bin-zayed-cbuae-board-reviews\" style=\"\" rel=\"noopener\">Wam<\/a> reported, without disclosing further details. <\/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\/crypto\/\">CRYPTO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dfsa\/\">DFSA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai-international-finance-center\/\">Dubai International Finance Center<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/regulation-watch\/\">REGULATION WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/trading\/\">trading<\/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=\"92695\" 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=\"92695\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/04\/mohamed-saeed-al-remeithi-named-new-ceo-of-abu-dhabi-aviation-cto-of-adnic-resigns\/\">\r\n                            Mohamed Saeed Al Remeithi named new CEO of Abu Dhabi Aviation, CTO of Adnic resigns                        <\/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\/04\/mohamed-saeed-al-remeithi-named-new-ceo-of-abu-dhabi-aviation-cto-of-adnic-resigns\/\" 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\/04\/mohamed-saeed-al-remeithi-named-new-ceo-of-abu-dhabi-aviation-cto-of-adnic-resigns\/')\">\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\/04\/mohamed-saeed-al-remeithi-named-new-ceo-of-abu-dhabi-aviation-cto-of-adnic-resigns\/\">\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=Mohamed Saeed Al Remeithi named new CEO of Abu Dhabi Aviation, CTO of Adnic resigns&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/04\/mohamed-saeed-al-remeithi-named-new-ceo-of-abu-dhabi-aviation-cto-of-adnic-resigns\/\">\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\/04\/mohamed-saeed-al-remeithi-named-new-ceo-of-abu-dhabi-aviation-cto-of-adnic-resigns\/&title=Mohamed Saeed Al Remeithi named new CEO of Abu Dhabi Aviation, CTO of Adnic resigns\">\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=Mohamed+Saeed+Al+Remeithi+named+new+CEO+of+Abu+Dhabi+Aviation%2C+CTO+of+Adnic+resigns+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F04%2Fmohamed-saeed-al-remeithi-named-new-ceo-of-abu-dhabi-aviation-cto-of-adnic-resigns%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\/04\/mohamed-saeed-al-remeithi-named-new-ceo-of-abu-dhabi-aviation-cto-of-adnic-resigns\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/278.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92696\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/04\/mohamed-saeed-al-remeithi-named-new-ceo-of-abu-dhabi-aviation-cto-of-adnic-resigns\/278-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/278.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"278.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/278.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/278.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92695\" class=\"content-area-description single-story post-92695 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-abu-dhabi-aviation tag-abu-dhabi-national-ins-company tag-aviation tag-enterpriseam-uae tag-ins tag-moves wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.140afcbe-43c6-423c-93ab-232827db455d.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mohamed Saeed Al Remeithi<\/strong> (<a target=\"_blank\" href=\"https:\/\/ae.linkedin.com\/in\/mohamedalremeithi\" style=\"\" rel=\"noopener\">Linkedin<\/a>) was appointed as the <strong>CEO<\/strong> of <strong>Abu Dhabi Aviation<\/strong> as of the start of June, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/217.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>. Al Remeithi has over 18 years of experience at Abu Dhabi Aviation, and most recently served as deputy general manager for over eight years. <\/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:\/\/adnic.ae\/\" style=\"\" rel=\"noopener\">Abu Dhabi National Ins. Company<\/a><\/strong> accepted the <strong>resignation<\/strong> of its<strong> executive vice president <\/strong><strong>and chief operational services and technology officer Yousuf Amin<\/strong> (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/yousuf-amin-b9028827\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), effective 21 July, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/216.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi-aviation\/\">Abu Dhabi Aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi-national-ins-company\/\">Abu Dhabi National Ins. Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/aviation\/\">Aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ins\/\">Ins.<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92697\" 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=\"92697\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">UAE IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/04\/emirates-boss-makes-headlines-with-criticism-of-heathrow-forecasts-for-higher-ticket-prices\/\">\r\n                            Emirates boss makes headlines with criticism of Heathrow, forecasts for higher ticket prices                        <\/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\/04\/emirates-boss-makes-headlines-with-criticism-of-heathrow-forecasts-for-higher-ticket-prices\/\" 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 airline's boss said Heathrow Airport is \u201cseriously lagging\u201d and is in need of investments, the <a target=\"_blank\" href=\"https:\/\/www.telegraph.co.uk\/business\/2024\/06\/03\/heathrow-seriously-lagging-rival-airports-emirates-boss\/\" style=\"\" rel=\"noopener\">Telegraph<\/a> and the <a target=\"_blank\" href=\"https:\/\/www.thetimes.com\/uk\/transport\/article\/heathrow-like-a-second-world-war-airport-says-airline-boss-zm6x56z3l\" style=\"\" rel=\"noopener\">Times<\/a> both report. Meanwhile, <a target=\"_blank\" href=\"https:\/\/time.com\/6985121\/airfare-cost-rising\/\" style=\"\" rel=\"noopener\">Time<\/a> magazine picked up his comments on ticket prices \u2014 which are expected to go up amid the post-pandemic travel boom \u2014 and the industry\u2019s low income margins. <\/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\/aviation\/\">Aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/emirates-airlines\/\">Emirates Airlines<\/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=\"92699\" 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=\"92699\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/04\/nmdc-energy-to-set-up-aed-367-mn-facility-in-kezad-dubai-public-beaches-get-a-revamp\/\">\r\n                            NMDC Energy to set up AED 367 mn manufacturing facility in Kezad + Dubai public beaches get a revamp                        <\/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\/04\/nmdc-energy-to-set-up-aed-367-mn-facility-in-kezad-dubai-public-beaches-get-a-revamp\/\" 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\/04\/nmdc-energy-to-set-up-aed-367-mn-facility-in-kezad-dubai-public-beaches-get-a-revamp\/')\">\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\/04\/nmdc-energy-to-set-up-aed-367-mn-facility-in-kezad-dubai-public-beaches-get-a-revamp\/\">\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=NMDC Energy to set up AED 367 mn facility in Kezad + Dubai public beaches get a revamp&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/04\/nmdc-energy-to-set-up-aed-367-mn-facility-in-kezad-dubai-public-beaches-get-a-revamp\/\">\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\/04\/nmdc-energy-to-set-up-aed-367-mn-facility-in-kezad-dubai-public-beaches-get-a-revamp\/&title=NMDC Energy to set up AED 367 mn facility in Kezad + Dubai public beaches get a revamp\">\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=NMDC+Energy+to+set+up+AED+367+mn+facility+in+Kezad+%2B+Dubai+public+beaches+get+a+revamp+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F04%2Fnmdc-energy-to-set-up-aed-367-mn-facility-in-kezad-dubai-public-beaches-get-a-revamp%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\/04\/nmdc-energy-to-set-up-aed-367-mn-facility-in-kezad-dubai-public-beaches-get-a-revamp\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/275.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92700\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/04\/nmdc-energy-to-set-up-aed-367-mn-facility-in-kezad-dubai-public-beaches-get-a-revamp\/275-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/275.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"275.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/275.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/275.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92699\" class=\"content-area-description single-story post-92699 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-azizi-developments tag-banking tag-business tag-colife tag-dubai-chamber tag-economy tag-edb tag-emirates-driving tag-enterpriseam-uae tag-healthcare tag-investment-banking tag-kezad tag-ma tag-manufacturing tag-real-estate tag-retail tag-sustainability 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\/.52ab3a9a-c0c0-4fee-81aa-48f162c6b8e2.mp3\"><\/audio><\/figure><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> NMDC Energy to set up AED 367 mn manufacturing facility in Abu Dhabi: <\/strong>Abu Dhabi\u2019s Khalifa Economic Zone (Kezad) and National Marine Dredging Company (NMDC) subsidiary NMDC Energy inked a 50-year lease agreement for a new manufacturing facility in Abu Dhabi, targeting modular fabrication, according to an AD Ports <a target=\"_blank\" href=\"https:\/\/www.adportsgroup.com\/en\/news-and-media\/2024\/06\/03\/kezad-group-signs-lease-agreement-with-nmdc-energy\" style=\"\" rel=\"noopener\">statement<\/a>. The agreement, which was signed on the sidelines of the Make It In The Emirates Forum, will see NMDC Energy invest some AED 367 mn (USD 100 mn) into the facility, which is expected to create 3k new jobs. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the facility:<\/strong> The 224k sqm facility will offer top-tier services such as engineering, procurement, project management, fabrication, installation, and commissioning to the local oil and gas sector.<\/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\">INFRASTRUCTURE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai allocates AED 355 mn for beach development: <\/strong>Dubai\u2019s Higher Committee for Urban Planning and Well-Being awarded AED 355 mn worth of contracts to fund the development of 5.7 km of public beaches at Al Mamzar and Jumeirah 1, according to the <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2024\/june\/03-06\/jumeirah-al-mamzar-beach\" style=\"\" rel=\"noopener\">Dubai Media Office<\/a>. The projects are scheduled for completion within 18 months, according to the statement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The project includes the establishment of Dubai's first 24\/7 night swimming beach in Deira,<\/strong> a 5 km pedestrian path connecting the beaches, 11 km of cycling and running tracks, and the introduction of a 200-m-long floating bridge at Al Mamzar Beach \u2014 a first in the emirate.<\/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>WWT and NXT to build UAE's first AI Integration Centre: <\/strong>US-based tech services company <a target=\"_blank\" href=\"https:\/\/www.wwt.com\/\" style=\"\" rel=\"noopener\">World Wide Technology<\/a> (WWT) and NXT Global signed an MoU to launch the UAE's first AI Integration Center, according to a <a target=\"_blank\" href=\"https:\/\/www.wwt.com\/press-release\/wwt-and-nxt-global-collaborate-to-bring-one-of-a-kind-integration-center-to-abu-dhabi-to-elevate-the-uaes-ai-economy-and-future-proof-their-strategic-vision\" style=\"\" rel=\"noopener\">press release<\/a>. The partnership will be known as WWT NXT Global and will see the development of a facility in Abu Dhabi\u2019s Masdar City to develop and export plug-and-play AI infrastructure to the world.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong><strong>This is not the first US-UAE investment in AI:<\/strong> Microsoft <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ab8a12c3-4caf-4243-940c-f007b4d33c7a\/%253cmark%253emicrosoft%253c%2Fmark%253e-writes-usd-1.5-bn-ticket-for-g42\" style=\"\" rel=\"noopener\">invested<\/a> some USD 1.5 bn in G42 in May. The two firms will also jointly set up a USD 1 bn fund to support AI developers, geared at strengthening the AI infrastructure and capabilities in the UAE and the wider MENA region, building on a previous partnership between G42 and Microsoft to expand existing data center infrastructure in the UAE. <\/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\"> M&A-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADX-listed <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.rakceramics.com\/mea\/en\/\" style=\"\" rel=\"noopener\">Rak Ceramics<\/a><\/strong><strong> fully acquired <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.rakporcelain.com\/\" style=\"\" rel=\"noopener\">Rak Porcelain<\/a><\/strong> for an undisclosed sum, as part of plans to focus on \u201ccore business segments,\u201d according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/262.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/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\">STARTUPS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai-based rental services startup <\/strong><strong><a target=\"_blank\" href=\"https:\/\/colife.ae\/?utm_source=linkedin\" style=\"\" rel=\"noopener\">Colife<\/a><\/strong><strong> has kickstarted its expansion into Asia <\/strong><strong>with operations in Hong Kong<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/business\/real-estate\/dubai-smart-rental-startup-colife-launches-in-hong-kong-czv8uqcn\" style=\"\" rel=\"noopener\">Trade Arabia<\/a> reports. The startup plans to expand into 10 major cities across the world by 2028, Trade Arabia cites a statement as saying, adding that it usually budgets some USD 350k to set up operations in a new region, before ramping up investments to USD 2 mn in the first year, CEO Ilnara Muzafiarova said. Colife already operates in Dubai and Istanbul. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details<\/strong>: The startup plans to focus on co-living space rentals, with a target to create more than 100 units and open a full-scale co-living house for about 60 units. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">SUSTAINABILITY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/pay.edcad.ae\/\" style=\"\" rel=\"noopener\">Emirates Driving<\/a><\/strong><strong> received a 9.7 out of 10 ESG rating<\/strong> from global index provider <a target=\"_blank\" href=\"https:\/\/www.msci.com\/\" style=\"\" rel=\"noopener\">MSCI<\/a>, a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/211.pdf\" style=\"\" rel=\"noopener\">bourse disclosure (pdf)<\/a> reads. The AAA rating is the highest in the consumer services industry as of March 2024. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- World Smart Sustainable Cities sets up regional office in Abu Dhabi: <\/strong>The Abu Dhabi Municipalities and Transport Department (DMT) has inaugurated a Mena office for the Seoul-based World Smart Sustainable Cities Organisation, after signing a friendship city agreement with the Seoul Metropolitan Government, according to the <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/transport\/department-of-municipalities-and-transport-opens-world-smart-sustainable-cities-organisation-mena-regional-office\/\" style=\"\" rel=\"noopener\">Abu Dhabi Media Office<\/a>. The new office aims to foster collaboration and knowledge exchange for regional urban development. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More details:<\/strong> The friendship city agreement covers urban planning, transport, and smart technologies collaboration. This partnership also extends to initiatives such as autonomous vehicles, AI utilization, and open data.<\/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\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Real estate developer Azizi Developments awarded a <\/strong><strong>design contract to Dubai-based architectural and engineering consultancy National Engineering Bureau<\/strong> (NEB) for 11 residential towers in Azizi Venice, <a target=\"_blank\" href=\"https:\/\/tradearabia.com\/news\/CONS_422703.html\" style=\"\" rel=\"noopener\">Trade Arabia<\/a> reports. Azizi is the project's master developer, responsible for building construction, roads, and infrastructure.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Azizi Venice: <\/strong>Launched in <a target=\"_blank\" href=\"https:\/\/azizidevelopments.com\/en\/news-pr\/azizi-developments-launches-azizi-venice-in-dubai-south\" style=\"\" rel=\"noopener\">September 2023<\/a>, the AED 30 bn mixed-use development comprises over 30k residential units across 100 apartment complexes in Dubai South, plus 400 luxury villas and mansions.<\/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\">INVESTMENT BANKING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Australian investment bank <\/strong><strong><a target=\"_blank\" href=\"https:\/\/barrenjoey.com\/\" style=\"\" rel=\"noopener\">Barrenjoey<\/a><\/strong><strong> has introduced its fixed-income sales and trading <\/strong><strong>services in Abu Dhabi<\/strong>, marking its first overseas expansion, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-03\/barrenjoey-opens-abu-dhabi-office-as-australian-bank-expands\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. The company currently has ten people staffed in its Abu Dhabi office. The move follows investment banks Rothschild & Co and Morgan Stanley\u2019s expansion into Abu Dhabi last year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">HEALTHCARE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- ADSCC bags FACT accreditation: <\/strong>The Abu Dhabi Stem Cells Center (ADSCC) received the Foundation for the Accreditation of Cellular Therapy (FACT) accreditation for its cellular therapy program, in recognition of its hematopoietic cellular therapy product processing, according to the <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/health\/abu-dhabi-stem-cells-center-first-healthcare-institution-in-uae-to-receive-fact-accreditation-for-cellular-therapy-programme\/\" style=\"\" rel=\"noopener\">Abu Dhabi Media Office<\/a>. The healthcare institution is the first in the UAE and one of only two centers in the Middle East recognized by FACT, which is considered the leading accreditation organization for cellular therapy programs on a global scale, according to the statement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Dubai Health Authority extended its partnership with National Training (Jaheziya) <\/strong>to enhance the emergency and health crisis management systems within Dubai\u2019s healthcare sector, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b3h9y1y-dha-jaheziya-partner-upgrade-dubais-emergency\" style=\"\" rel=\"noopener\">Wam<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">INS.-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>S&P Global affirmed Orient Ins. and its subsidiaries\u2019 A+ long-term issuer credit and <\/strong><strong>insurer financial strength ratings<\/strong>, with a stable outlook, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/orient-insurance-and-subsidiaries-a-ratings-affirmed-on-revised-capital-model-criteria-i47cw8k3\" style=\"\" rel=\"noopener\">press release<\/a>. The decision was based on the company's robust capitalization, careful underwriting strategies, and reliable reins. collaborations, according to the statement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">CAPITAL MARKETS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ADX added ADSS as its latest brokerage<\/strong>, increasing the bourse\u2019s total number of market participants to 33, according to an ADX <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/abu-dhabi-securities-exchange_aebaewaeqabraelaeqaewaegaeqaeyabraesaesaelaewaezaepaeqabraepaesaetaepaesaeyaer-activity-7203320970223218688-AfxA\/?utm_source=share&utm_medium=member_desktop\" style=\"\" rel=\"noopener\">statement<\/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\">BANKING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>S&P Global upgraded Emirates Development Bank\u2019s (EDB) long-term issuer credit rating <\/strong><strong>to AA from AA-,<\/strong> assigning it a stable outlook, according to a <a target=\"_blank\" href=\"https:\/\/disclosure.spglobal.com\/ratings\/en\/regulatory\/article\/-\/view\/type\/HTML\/id\/3182222\" style=\"\" rel=\"noopener\">statement<\/a>. The ratings agency affirmed the lender\u2019s long-term Gulf Cooperation Council (GCC) regional scale rating at gcAAA. S&P attributed the upgrade to the UAE\u2019s favorable macroeconomic look and credit conditions that are expected to sustain the growth of government-related entities (GREs), including EDB. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EDB now holds the highest credit rating among issuers in the UAE and the Mena region, <\/strong>with the upgrade representing the highest credit rating ever awarded to a financial institution across the region, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b3h9xz2-sp-global-raises-edb-credit-rating-%25E2%2580%2598aa%25E2%2580%2599\" style=\"\" rel=\"noopener\">Wam<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">BUSINESS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai Chamber to draw more Polish investments: <\/strong>Dubai Chamber of Commerce has officially launched the Polish Business Council to bolster bilateral trade and investment relations between Dubai and Poland, according to a <a target=\"_blank\" href=\"https:\/\/www.dubaichamber.com\/en\/media-center\/news\/dubai-chamber-of-commerce-launches-polish-business-council-to-promote-economic-partnerships\/\" style=\"\" rel=\"noopener\">statement<\/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\">SMEs-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emirates Airlines has partnered with business discovery platform <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.hidubai.com\/\" style=\"\" rel=\"noopener\">HiDubai<\/a><\/strong><strong> to give local <\/strong><strong>businesses access to travel links that can help grow their business <\/strong>through the carrier\u2019s business rewards program, a <a target=\"_blank\" href=\"https:\/\/www.emirates.com\/media-centre\/emirates-partners-with-hidubai-to-support-dubai-smes\/\" style=\"\" rel=\"noopener\">press release<\/a> reads. Emirates plans to engage with more than 180k SMEs on HiDubai's platform to onboard them onto its rewards program.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/azizi-developments\/\">Azizi Developments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/04\/turkeys-inflation-hits-75-5-in-what-is-believed-to-be-the-peak-before-a-slowdown\/\">\r\n                            Turkey\u2019s inflation hits 75.5% in what is believed to be the peak before a slowdown                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/255.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/255.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92701\" class=\"content-area-description single-story post-92701 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam-uae tag-inflation tag-planet-finance tag-turkey 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\/.6251a357-6868-4d97-bd2b-167f4f4fda08.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>\u201cThe worst is over\u201d for Turkey\u2019s inflation:<\/strong> Turkey\u2019s annual consumer price inflation rose to 75.5% in May \u2014 according to the <a target=\"_blank\" href=\"https:\/\/data.tuik.gov.tr\/Bulten\/Index?p=Consumer-Price-Index-May-2024-53615&dil=2\" style=\"\" rel=\"noopener\">Turkish Statistical Institute<\/a> \u2014 in what economists expect to be the peak of a years-long cost-of-living crisis before prices start to cool. \u201cThe worst is over,\u201d Finance Minister Mehmet Simsek <a target=\"_blank\" href=\"https:\/\/twitter.com\/memetsimsek\/status\/1797527672806858919\" style=\"\" rel=\"noopener\">said on X<\/a>. \u201cThe transition period in the fight against inflation is complete and we are entering the disinflation process,\u201d he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In detail:<\/strong> Headline inflation in May \u2014 which was up by 5.7 percentage points from <a target=\"_blank\" href=\"https:\/\/data.tuik.gov.tr\/Bulten\/Index?p=Consumer-Price-Index-April-2024-53614\" style=\"\" rel=\"noopener\">a month<\/a><a target=\"_blank\" href=\"https:\/\/data.tuik.gov.tr\/Bulten\/Index?p=Consumer-Price-Index-April-2024-53614\" style=\"\" rel=\"noopener\">earlier<\/a> \u2014 was driven primarily by steep annual price rises in education, housing, and restaurants. Monthly inflation climbed to 3.4% in May, up from 3.2% in April.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Despite the jubilant tone, inflation still came in higher than expected: <\/strong>A <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/turkish-annual-inflation-rises-7545-may-2024-06-03\/\" style=\"\" rel=\"noopener\">Reuters poll<\/a> saw annual inflation peaking at 74.8% in May and monthly inflation registering 2.7-3.3%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>So where is inflation headed from here? <\/strong>Annual inflation will likely drop below 50% by the end of 3Q 2024, hit 33.2% in 12 months, and 21.3% in 24 months, Simsek said. Analysts polled by Reuters expect annual inflation to drop to 42.6% by the end of 2024. <\/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>Most Asian markets have started the day in the red, with only Hong Kong\u2019s Hang Seng bucking the trend. <\/strong>There\u2019s no clear trigger for the dip, which sees the Nikkei leading decliners at dispatch time this morning (-0.7%). Futures for major European benchmarks dipped overnight, while Nasdaq, Dow, and S&P 500 futures were largely unchanged. <\/p>\n<p><a target=\"_blank\" id=\"t.87d1ab1812a918d9c2ac42e58b9759fa45e68a16\" 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<thead>\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\">8917.6<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6% (YTD: -6.9%)<\/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>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\">3993<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: -1.6%)<\/p>\n<\/td>\n<\/tr>\n<\/thead>\n<tbody><\/tbody>\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>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\">3352.3<\/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: -12.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : AED 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-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>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\">5.2% o\/n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.4% 1 yr<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,808<\/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\">+1.6% (YTD: -1.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">26,834<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +7.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&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\">5,283<\/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: +10.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,263<\/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: +6.9%)<\/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>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,004<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +10.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">78.57<\/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\">-3.1%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">2.66  <\/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\">+3.0%<\/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>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\">2,358.1<\/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%<\/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\">69,264<\/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\">+1.9% (YTD: +155.4%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ADX rose 0.6% yesterday<\/strong> on turnover of AED 979.1 mn. The index is down 6.9% 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>Abu Dhabi National Company For Building Materials (+14.6%), RAK Co. for White Cement and Construction Materials (+5.6%) and Adnoc Logistics & Services (+4.2%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Gulf Medical Projects (-9.6%), Al Khaleej Investment (-9.1%) and Hayah Ins. (-6.1%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over on the DFM<\/strong>, the index rose 0.4% on turnover of AED 302.1 mn. Meanwhile Nasdaq Dubai rose 0.2%. <\/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\"> CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ajman Bank\u2019s board approved a share buyback program<\/strong> that will see it buy back up to 10% of its shares on the DFM after receiving the regulatory approvals, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/263.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/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\/inflation\/\">inflation<\/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\/turkey\/\">Turkey<\/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=\"92703\" 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=\"92703\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/04\/abdullah-bin-zayed-meets-prime-minister-of-singapore\/\">\r\n                            Abdullah bin Zayed meets Prime Minister of Singapore                        <\/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\/04\/abdullah-bin-zayed-meets-prime-minister-of-singapore\/\" 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 discussed strengthening bilateral relations between the countries and prospects for boosting economic, trade, investment, climate, education, tourism, and energy cooperation. <\/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\/asia\/\">Asia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/climate\/\">climate<\/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\/education\/\">Education<\/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\/investment\/\">investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/singapore\/\">Singapore<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92705\" 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\/04\/92705-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92705\" class=\"content-area-description single-story post-92705 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 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>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>11 June (Tuesday): <\/span><span style=\"font-weight:400;\">The AI Retreat, Museum of the Future, 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;\">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>Emaar plans AED 1.5 bn Dubai Mall expansion | Mashreq kicks off AT1 bonds sale | Burjeel sets up healthcare JV with Colombia\u2019s Keralty<\/p>\n","protected":false},"featured_media":92678,"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-92677","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"3c943abf-4591-489c-b4b4-ac7aa35d71f0","teaser":"Emaar plans AED 1.5 bn Dubai Mall expansion | Mashreq kicks off AT1 bonds sale | Burjeel sets up healthcare JV with Colombia\u2019s 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