{"id":92727,"date":"2024-06-05T00:00:00","date_gmt":"2024-06-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=92727"},"modified":"2025-12-15T00:32:54","modified_gmt":"2025-12-15T00:32:54","slug":"more-climate-investments-an-oversubscribed-at1-bond-sale-from-mashreq","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/more-climate-investments-an-oversubscribed-at1-bond-sale-from-mashreq\/","title":{"rendered":"More climate investments + an oversubscribed AT1 bond sale from Mashreq"},"content":{"rendered":"<section id=\"92729\" 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=\"92729\">\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\/05\/this-morning-work-on-al-maktoum-airport-to-begin-this-month\/\">\r\n                            THIS MORNING: Work on Al Maktoum Airport to begin this month? + Impending interest rate cuts to boost dealmaking in the UAE, consultancy says                        <\/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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                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2379.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92730\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/05\/this-morning-work-on-al-maktoum-airport-to-begin-this-month\/2379-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2379.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2379.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2379.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2379.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92729\" class=\"content-area-description single-story post-92729 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-aviation 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\/.90b4d818-dd0f-4a5d-8ad2-c203ddfdca66.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Good morning, friends. <\/strong><span style=\"background-color: transparent;\">We have a busy issue for you this morning, with a flurry of climate, investment, and debt news.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The big stories of the day<\/strong> are a toss-up between <strong>fresh climate pledges<\/strong> from COP28 President Sultan Al Jaber through the Alterra fund, news that <strong>Canadian oil and gas company Sonaro Energy<\/strong> is buying into a local well management and engineering firm, and <strong>our friends at Mashreq\u2019s 4.4x oversubscribed AT1 bond sale<\/strong>. <\/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- Work on Al Maktoum Airport to begin this month?<\/strong> Work on Al Maktoum International Airport\u2019s new passenger terminal is set to begin in the coming two to three weeks, <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/projects\/construction\/work-to-commence-on-new-35bln-passenger-terminal-in-next-2-3-weeks-emirates-president-dw6yk1h8\" style=\"\" rel=\"noopener\">Zawya<\/a> cites Reuters as reporting yesterday. The first phase of the project \u2014 capable of handling 150 mn passengers \u2014 is likely to conclude within the coming 10 years, according to Dubai Civil Aviation Authority Chair Sheikh Ahmed bin Saeed Al Maktoum.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Refresher: <\/strong>Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum approved the design plan for the USD 35 bn new passenger terminal at Al Maktoum International Airport in <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\">April<\/a>. The expanded airport is set to be the world\u2019s largest, hosting over 260 mn passengers, handling 12 mn tons of annual cargo, accommodating around 400 aircraft gates, and featuring five parallel runways.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#2- Venture capital investments in the UAE\u2019s startup scene are expected to \u201ctake <\/strong><strong>center stage\u201d in 2024<\/strong>, according to a Tenet Consulting report picked up by <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/markets\/equities\/ipos-m-and-a-deals-in-mena-set-to-rebound-on-anticipated-interest-rate-cuts-ymfedwgj\" style=\"\" rel=\"noopener\">Zawya<\/a>. VC investments in the region \u2014 as well as worldwide \u2014 are expected to pick up pace with foreseen interest rate cuts, which will incentivize businesses to expand and raise capital. \u201cThis impending shift has the potential to breathe new life into initial public offerings and M&amp;A [transactions], reigniting investor confidence and dealmaking momentum,\u201d according to the report.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Prices will continue to trend upward in the aviation industry<\/strong>, Dubai Aerospace Enterprise (DAE) CEO Firoz Tarapore told Bloomberg in an interview (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/videos\/2024-06-04\/dae-ceo-on-strong-aircraft-demand-geopolitical-risks-video\" style=\"\" rel=\"noopener\">watch, runtime: 4:26<\/a>) yesterday. Inflated rental leases come on the back of supply chain delays \u2014 with some 3k planes on the production pipeline stalling over the last three years \u2014 against heightened demand \u201cacross all airlines [and] across all aircraft types.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>However, airlines and their surrounding ecosystem remain profitable<\/strong>, with Tarapore adding that the outlook for the industry is \u201cstrong.\u201d \u201cPeople either need to or want to travel, and that is holding up numbers really quite well for our business,\u201d Tarapore said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DAE isn\u2019t worried about Boeing\u2019s ongoing crisis <\/strong>despite having a USD multi-bn order from the aircraft manufacturer. \u201cUltimately, safety is not an issue because Boeing is kind of gearing down to make sure that everything that comes out is absolutely safe [\u2026] and regulators are all over it,\u201d Tarapore said, adding that geopolitical conflicts have also not had \u201cany impact on the airline side or on [DAE\u2019s] side.\u201d<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Adnoc Distribution plans to enter new markets in the Middle East and Africa<\/strong>, and is eyeing expansions in Egypt as part of global expansion plans, <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/64493\/%D8%A3%D8%AF%D9%86%D9%88%D9%83-%D9%84%D9%84%D8%AA%D9%88%D8%B2%D9%8A%D8%B9-%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA%D9%8A%D8%A9-%D8%AA%D8%AA%D8%B7%D9%84%D8%B9-%D9%84%D8%A7%D8%B3%D8%AA%D8%AD%D9%88%D8%A7%D8%B0%D8%A7%D8%AA-%D9%81%D9%8A-%D9%85%D8%B5%D8%B1-%D9%88%D8%A7%D9%84%D9%85%D9%86%D8%B7%D9%82%D8%A9\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> quotes CEO Bader Al Lamki as saying. The country\u2019s largest fuel retailer is also looking into installing electric vehicle charging stations and local manufacturing of motor oils in Egypt by late 2024, Lamki said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company is looking to invest some USD 250-300 mn in the region annually <\/strong><strong>over the next five years<\/strong>, it <a target=\"_blank\" href=\"https:\/\/www.adnocdistribution.ae\/en\/media-folder\/news-listing\/2024\/04\/adnoc-distribution-reports-robust-q1-2024-growth-with-18-increase-in-ebitda#:~:text=ADNOC%20Distribution'\" style=\"\" rel=\"noopener\">said<\/a> previously. It\u2019s also looking to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/0f007ce4-7adb-424a-93e5-e3a4aa98f3bc\/%253cmark%253eadnoc-distribution%253c%2Fmark%253e-eyes-more-fast-ev-chargers-in-the-uae-this-year-%2B-fuel-stations-across-egypt,-ksa-and-the-uae\" style=\"\" rel=\"noopener\">add<\/a> some 15-20 fuel stations across Egypt, Saudi Arabia and the UAE within six months. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Adnoc Distribution <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/75784c1b-8241-45cc-affa-165e236ca996\" style=\"\" rel=\"noopener\">entered the Egyptian market<\/a> via a USD 186 mn acquisition for a 50% stake in TotalEnergies\u2019 Egyptian fuel distribution arm a year ago. It was also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9ed0f878-77a6-4d08-8c51-91fc5ff5c0fb\" style=\"\" rel=\"noopener\">rumored<\/a> to have lodged a bid for the military-owned filling station operator Wataniya, but unconfirmed media reports in February <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c6917ee5-d671-4da3-8343-001eb83e356f\" style=\"\" rel=\"noopener\">claimed<\/a> that the Emirati oil giant had withdrawn its bid.<\/p>\n<p class=\"tag-border-left\"> HAPPENING TODAY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#1- Dubai Chamber to head to Morocco:<\/strong> The Dubai International Chamber is heading to Morocco 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 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>The first leg of the roadshow in Senegal saw participation from 247 senior figures<\/strong> from the Senegalese government, business leaders, and local companies to explore potential partnerships with the Dubai Chamber, according to a <a target=\"_blank\" href=\"https:\/\/www.dubaichamberinternational.com\/en\/news\/dubai-international-chamber-supports-dubai-companies-to-enter-senegalese-market-with-more-than-150-bilateral-business-meetings-in-dakar\/\" style=\"\" rel=\"noopener\">press release<\/a>. The Dubai Chamber arranged 150 business matching meetings between companies from both the UAE and Sengal. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.thehotelshow.com\/event-info\/\" style=\"\" rel=\"noopener\">The Hotel Show<\/a><\/strong><strong> is on its second day 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 style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Today is the deadline for Sidara to withdraw its <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/b6c21e45-3bb1-4127-9cd0-048ca91763c0\/%253cmark%253ewood-group%253c%2Fmark%253e-rejects-sidara%25e2%2580%2599s-gbp-1.4-bn-takeover-bid\" style=\"\" rel=\"noopener\">acquisition offer<\/a><\/strong><strong> for the entirety of Wood <\/strong><strong>Group. <\/strong>The Dubai-based engineering and consulting firm submitted its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/a6b32db8-aa7b-404f-aa69-83403a0c9051\/this-morning:%253cmark%253e-sidara%253c%2Fmark%253e-makes-final-play-for-wood-group-%2B-president-in-china\" style=\"\" rel=\"noopener\">fourth and final bid<\/a> last week to acquire the Irish engineering firm at GBP 2.3 per share, valuing it at GBP 1.59 bn. This bid represents a 4.5% premium over its last bid in late May, which was rejected for \u201csignificantly undervaluing the company.\u201d Sidara had asked Wood to consider extending the deadline and engaging in negotiations, while Wood said it is now evaluating the latest bid. <\/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&amp;P Global will publish PMI figures for May next Wednesday.<\/strong> The non-oil sector continued to expand in April, though at a slightly slower pace due to the impacts of the storm. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<br \/><\/strong><strong>DID YOU KNOW that we also cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Egypt<\/a><\/strong><strong> and <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong>?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to subscribe? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of EnterpriseAM UAE delivered every weekday before 7am UAE time \u2014 without charge, thanks to our friends at Mashreq.<br \/><strong>***<\/strong><\/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>A third term for Modi \u2026 maybe:<\/strong> Indian Prime Minister Narendra Modi is on track to become the country\u2019s first prime minister to secure a third term in over 60 years after his coalition the Bharatiya Janata Party (BJP) won a little more than half of the 543 seats in the country\u2019s lower house. Modi has lost his parliamentary majority \u2014 a surprise to pundits \u2014 and now has to work with allies to form a government. The opposition INDIA alliance holds some 233 seats. The result is seen as a blow to Modi\u2019s dominance, with analysts noting a shift towards \u201calliance politics\u201d and a more negotiated government. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/1de49cb9-db2c-446f-8ee4-9bdbb4a7625b\" style=\"\" rel=\"noopener\">FT<\/a> | <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/397bbe91-ee0e-45fe-855c-37c89c14795d\/shareholders-can-buy-into-qalaa%25e2%2580%2599s-debt-today\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/06\/04\/indias-narendra-modi-declares-victory-despite-election-blow.html\" style=\"\" rel=\"noopener\">CNBC<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-04\/india-election-2024-why-modi-bjp-s-lead-was-narrower-than-expected?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> is out with a piece detailing what went wrong for Modi and what we expect next from the Indian government. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO IN ELECTIONS- Sunak vs. Starmer. <\/strong>UK Prime Minister Rishi Sunak went head-to-head with Labour Party leader Keir Starmer in their first debate weeks before the Brits head to the polls. Their debate saw them take digs at each other\u2019s election promises, with Sunak telling viewers that Starmer\u2019s party will \u201craise your taxes. It\u2019s in their DNA. Your work, your car, your pension.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Round two: <\/strong>The two will face off again on 26 June and take part in a seven-way debate on Friday, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-04\/sunak-starmer-clash-on-taxes-in-crunch-uk-election-tv-debate?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg writes<\/a>. (<a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/politics\/article\/2024\/jun\/04\/sunak-and-starmer-scrap-over-tax-and-immigration-in-heated-first-tv-debate\" style=\"\" rel=\"noopener\">The Guardian<\/a> | <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/world\/2024\/06\/04\/keir-starmer-rishi-sunak-debate-uk-election\/\" style=\"\" rel=\"noopener\">The Washington Post<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/32ffd10b-564d-404c-8744-2d4b869137d3\" style=\"\" rel=\"noopener\">FT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/cz55pm66lgko\" style=\"\" rel=\"noopener\">BBC<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OIL WATCH- Oil extends losses:<\/strong> Oil prices fell another USD 1 a barrel yesterday, extending losses that pushed them to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/16a75d07-03f7-4861-b1b3-ddb50c96e82e\/\" style=\"\" rel=\"noopener\">four-month lows<\/a>. Brent crude fell to a low of USD 76.76 a barrel yesterday, while US West Texas Intermediate crude fell to USD 73.25. Brent has now fallen 8% over the past week, as \u201crising oil inventories and weak economic data have fuelled concerns that global demand will remain depressed, while stubbornly high inflation will cause central banks to delay interest rate cuts,\u201d writes the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/c2bc1958-eb3f-4ffc-8f66-ee78a4ab7350\" style=\"\" rel=\"noopener\">Financial Times<\/a>. <\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p class=\"tag-border-left\"> CIRCLE YOUR CALENDAR- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>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>The Abu Dhabi Early Childhood Week is scheduled to take place from Tuesday, <\/strong><strong>29 October, until Saturday, 2 November, <\/strong>according to an Abu Dhabi Media Office <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/community\/under-the-patronage-of-theyab-bin-mohamed-bin-zayed-abu-dhabi-early-childhood-week-to-take-place-in-the-emirate\/\" style=\"\" rel=\"noopener\">statement<\/a>. Hosted by the Abu Dhabi Early Childhood Authority, the event will gather entrepreneurs and VC funds, with the aim of promoting collaboration and encouraging investment in early childhood development projects. <\/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\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\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- 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decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/20617.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>From OUR FAMILY to YOURS<\/span>\r\n                <\/div>\r\n            <\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92732\" 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=\"92732\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">INVESTMENT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/05\/uae-climate-fund-alterra-pledges-usd-200-bn-in-additional-investments-uae-breaks-ground-on-azerbaijan-solar-plants\/\">\r\n                            UAE climate fund Alterra pledges USD 200 bn in investments over next six years                        <\/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\/05\/uae-climate-fund-alterra-pledges-usd-200-bn-in-additional-investments-uae-breaks-ground-on-azerbaijan-solar-plants\/\" target=\"_blank\">\n                    Open in new tab                    <!-- 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class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/05\/uae-climate-fund-alterra-pledges-usd-200-bn-in-additional-investments-uae-breaks-ground-on-azerbaijan-solar-plants\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/446.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92733\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/05\/uae-climate-fund-alterra-pledges-usd-200-bn-in-additional-investments-uae-breaks-ground-on-azerbaijan-solar-plants\/446-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/446.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"446.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/446.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/446.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92732\" class=\"content-area-description single-story post-92732 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-alterra tag-climate tag-energy tag-enterpriseam-uae tag-investment-watch tag-uae-azerbaijan-relations wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.48a5b976-0c38-4f04-8ab5-f52143c556a1.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>More climate pledges + groundbreaking ceremony at Baku Energy Week:<\/strong> COP28 President Sultan Al Jaber\u2019s attendance at the Baku Energy Week, which kicked off on Tuesday and wraps tomorrow, saw him lay foundation stones for solar plants in Azerbaijan and announce additional climate pledges through UAE climate fund Alterra.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Alterra pledges additional USD 200 bn for climate investments: <\/strong>The UAE\u2019s climate fund, <a target=\"_blank\" href=\"https:\/\/www.alterra.ae\/\" style=\"\" rel=\"noopener\">Alterra<\/a>, said it will direct an extra USD 200 bn to investments over the next six years, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b3hvd98-cop28-presidency-calls-for-global-effort-leverage\" style=\"\" rel=\"noopener\">Wam<\/a> quotes COP28 President Sultan Al Jaber as saying. The venture previously <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/71017814-88a9-452e-870e-3bae48d2dd38\/loss-and-damage-agreement-finalized-%2B-uae-launches-usd-30-bn%253cmark%253e-alterra%253c%2Fmark%253e-climate-accelerator\" style=\"\" rel=\"noopener\">aimed to mobilize USD 250 bn<\/a> in green investments by 2030. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Alterra was launched last year to increase climate funding for the Global South: <\/strong>The UAE launched the USD 30 bn \u201ccatalytic climate vehicle\u201d in December 2023 to improve access to climate funding for the Global South. Alterra\u2019s initial commitment \u2014 along with BlackRock, Brookfield, and TPG \u2014 was USD 6.5 bn to climate-dedicated funds. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Work has been ongoing to mobilize investments: <\/strong>Global Climate Finance Centre (GCFC) and Alterra <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/a1d0da1c-8b2e-47b8-afbb-de4fb0cb4d39\/alkhorayef-to-develop-and-rehabilitate-four-sewage-treatment-plants\" style=\"\" rel=\"noopener\">joined forces in April<\/a> to increase climate investments in emerging and developing economies. The investments will focus on furthering low carbon, sustainable, and climate resilient projects.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Masdar breaks ground on Azerbaijan projects: <\/strong>Renewables giant Masdar has inked power purchase, transmission connection, land lease, and investment agreements with the government of Azerbaijan to advance developing 1 GW of solar and wind projects in the country, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/masdar.ae\/posts\/pfbid02QCBT1JtQqCKFEV5iEdvcqGfwc9Wm9D73SHQPosjqB8W83eWVmGyswVoro2GrLz1yl\" style=\"\" rel=\"noopener\">statement<\/a>. Masdar and Azerbaijan\u2019s state-owned Socar officially launched the projects during a <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3hvdta-president-azerbaijan-breaks-ground-masdar-1gw\" style=\"\" rel=\"noopener\">groundbreaking ceremony<\/a> yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the projects:<\/strong> The projects will comprise a 445 MW Bilasuvar Solar PV Project and a 315 MW Neftchala Solar PV Project, set to become operational by the end of 2026 or early 2027, Masdar's head of development and investment for the CIS region Maryam Al Mazrouei told <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/business\/energy\/uaes-masdar-to-build-wind-solar-plants-in-azerbaijan-k2qwwr6b\" style=\"\" rel=\"noopener\">Reuters<\/a>. They also include the 240 MW Absheron-Garadagh onshore wind farm, set to start operations by the end of 2027. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This has been in the works: <\/strong>Masdar and Azerbaijan inked agreements for <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/5f6a8523-67f5-4e2b-ad8f-ba91f7c6c3c0\" style=\"\" rel=\"noopener\">1 GW of solar and onshore wind projects<\/a> in the country last October. This forms part of a broader agreement to install <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/349d9ac2-e114-453b-bccb-580c58f97b7f\" style=\"\" rel=\"noopener\">10 GW of clean energy projects<\/a> \u2014 including onshore and offshore wind farms, solar farms and green hydrogen \u2014 in the Central Asian country.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Masdar has other projects in Azerbaijan:<\/strong> Masdar launched the operations of its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/5f6a8523-67f5-4e2b-ad8f-ba91f7c6c3c0\" style=\"\" rel=\"noopener\">Garadagh Solar Park<\/a> in Azerbaijan \u2014 the largest in the region and the first independent solar project to receive foreign investment. Masdar and Saudi\u2019s Acwa Power also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/08ebc2d1-c075-4429-ba06-cac0c83681fc\" style=\"\" rel=\"noopener\">signed an MoU<\/a> with Socar for 500 MW of renewable energy projects in the country, and agreed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/349d9ac2-e114-453b-bccb-580c58f97b7f\" style=\"\" rel=\"noopener\">to develop renewables projects<\/a> with a combined capacity of 4 GW with Socar. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE is deepening ties with Azerbaijan: <\/strong>Earlier <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/88887f60-0d77-49eb-b958-b2e6af8f1760\/adnoc-awards-minority-stake-in-an-abu-dhabi-concession-to%253cmark%253e-azerbaijan%253c%2Fmark%253e%25e2%2580%2599s-socar\" style=\"\" rel=\"noopener\">this week<\/a>, Adnoc awarded Socar a minority stake in its Sarb and Umm Lulu concession. The UAE and Azerbaijan also signed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ccccae30-6f0e-4eaa-90ff-dac95f2f3a13\/%253cmark%253eazerbaijan%253c%2Fmark%253e-and-mongolia-mous-%2B-winter-aid-to-gaza\" style=\"\" rel=\"noopener\">multiple agreements<\/a> for cooperation in sustainable development across the renewable energy and environmental sectors ahead of COP29 last January. In December, Abu Dhabi\u2019s sovereign wealth fund ADQ established a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/8ca04234-367c-4606-9de8-a16688ade268\/adq,%253cmark%253e-azerbaijan%253c%2Fmark%253e-investment-holding-set-up-usd-1-bn-investment-platform\" style=\"\" rel=\"noopener\">USD 1 bn joint investment fund<\/a> with Azerbaijan Investment Holding, targeting agriculture, technology, pharma, and energy infrastructure. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO-<\/strong> <strong>Al Jaber calls for faster AI integration:<\/strong> Al Jaber called for a global effort to harness the potential of AI, energy transition, and the growing economies of the Global South to expedite sustainable development, Wam reports. He urged the energy and tech industries to collaborate on using AI to meet rising global energy needs sustainably, reducing carbon emissions. <\/p>\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\/alterra\/\">Alterra<\/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\/energy\/\">energy<\/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\/uae-azerbaijan-relations\/\">UAE-Azerbaijan relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92734\" 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=\"92734\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/05\/canadas-sonoro-energy-to-acquire-20-of-uae-well-manager\/\">\r\n                            Canada\u2019s Sonoro Energy to acquire 20% of UAE well manager                        <\/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\/05\/canadas-sonoro-energy-to-acquire-20-of-uae-well-manager\/\" 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\/05\/canadas-sonoro-energy-to-acquire-20-of-uae-well-manager\/')\">\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\/05\/canadas-sonoro-energy-to-acquire-20-of-uae-well-manager\/\">\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=Canada\u2019s Sonoro Energy to acquire 20% of UAE well manager&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/05\/canadas-sonoro-energy-to-acquire-20-of-uae-well-manager\/\">\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\/05\/canadas-sonoro-energy-to-acquire-20-of-uae-well-manager\/&title=Canada\u2019s Sonoro Energy to acquire 20% of UAE well manager\">\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=Canada%E2%80%99s+Sonoro+Energy+to+acquire+20%25+of+UAE+well+manager+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F05%2Fcanadas-sonoro-energy-to-acquire-20-of-uae-well-manager%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\/05\/canadas-sonoro-energy-to-acquire-20-of-uae-well-manager\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/889.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92735\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/05\/canadas-sonoro-energy-to-acquire-20-of-uae-well-manager\/889-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/889.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"889.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/889.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/889.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92734\" class=\"content-area-description single-story post-92734 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-enterpriseam-uae tag-ma tag-ma-watch tag-oil-and-gas 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\/.2a4c81d1-d14d-46ed-b995-c84bd689d03b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Sonoro Energy to acquire a stake in UAE-based regional well manager: <\/strong>Canadian oil and gas company Sonoro Energy signed a non-binding agreement to acquire a 20% stake in an undisclosed UAE-based company offering well management and engineering, procurement, and construction (EPC) services in the MENA region, it said in a <a target=\"_blank\" href=\"https:\/\/www.sonoroenergy.com\/newsfeed\/2024\/6\/3\/sonoro-energy-enters-into-mou-to-acquire-20-interest-in-a-mena-company\" style=\"\" rel=\"noopener\">statement<\/a>. Sonoro plans to acquire the stake via a share swap agreement executed by its subsidiary.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>Sonoro\u2019s subsidiary will offer 40 mn common shares in Sonoro at USD 0.12 per share, granting the UAE company 15.2% of Sonoro shares, without creating new insiders. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>A definitive agreement \u2014 which is expected to be hashed out in 2Q 2024 \u2014 will be subject to regulatory approvals, plus approvals from Canada\u2019s TSX Venture Exchange and shareholders. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know about the UAE company:<\/strong> The company holds a five-year master service agreement with a national oil company for oil and gas well management and EPC services, according to Sonoro\u2019s statement. The agreement covers existing oil and gas fields producing some several 100k bpd, and looks to ramp up the national oil company\u2019s area production by over 100k bpd via well re-activation, EPC projects, sub-surface optimization studies, operational enhancements, maintenance activities, training programs, and ancillary support activities.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma\/\">M&amp;A<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/oil-and-gas\/\">oil and gas<\/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=\"92736 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=\"92736\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/05\/92736-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92736\" class=\"content-area-description single-story post-92736 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\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=\"92737\" 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=\"92737\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/05\/mashreqs-usd-500-mn-bond-sale-meets-heavy-demand-allows-lender-to-lock-in-the-lowest-coupon-by-a-uae-bank-in-past-three-years\/\">\r\n                            Mashreq\u2019s USD 500 mn bond sale meets heavy demand, allows lender to lock in the lowest coupon by a UAE bank in past three years                        <\/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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                    <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=\"92738\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/05\/mashreqs-usd-500-mn-bond-sale-meets-heavy-demand-allows-lender-to-lock-in-the-lowest-coupon-by-a-uae-bank-in-past-three-years\/2673-jpg-12\/\" 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-92737\" class=\"content-area-description single-story post-92737 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-bonds tag-debt tag-debt-watch tag-enterpriseam-uae tag-mashreq wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.32f573db-ba6a-42a3-a318-2d2e3ca50b68.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Mashreq\u2019s AT1 bonds were 4.4x oversubscribed: <\/strong>Our friends at Mashreq issued a USD 500 mn additional Tier 1 bond, yesterday, with an annual coupon rate of 7.125%, with a 270.5+ basis point (bps) reset margin, the lender said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/388.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The issuance carries the <strong>lowest coupon for AT1 bonds set by a bank in the UAE in the past three years.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mashreq booked USD 2.3 bn in orders for the offering, making the sale 4.4x <\/strong><strong>oversubscribed. <\/strong>The transaction saw the largest price tightening by any UAE bank for an AT1 issuance in the past five years, Mashreq said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who bought in? <\/strong>Some 77.5% of the offering was allocated to Middle East-based investors, while Europe (including the UK) snapped up some 19.5%. The balance was divided between Asian markets and offshore US interests.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sound smart: <\/strong>The issuance carries Mashreq\u2019s tightest-ever reset margin (+270.5 bps) for any of its bank capital issuances (AT1 and Tier 2) \u2014 that\u2019s the tightest spread ever achieved on a conventional, USD-denominated AT1 benchmark issuance out of the Middle East. The transaction was Mashreq\u2019s first since it raised USD 300 mn in its <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/mashreq-announces-pricing-of-its-inaugural-u300mln-additional-tier-1-offering-koy91nr3\" style=\"\" rel=\"noopener\">2022 offering<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Use of proceeds: <\/strong>Mashreq will use the funds to \u201ccontinue its growth plans into 2024 and beyond,\u201d our friend Ahmed Abdelal, Mashreq\u2019s Group CEO, said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The marketing plan: <\/strong>Mashreq kicked off with a \u201cwell-attended global investor call\u201d and then pushed through \u201ca couple of days of intensive marketing\u201d that included an in-person roadshow in London. <\/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're a common way for banks to raise core tier-one capital without diluting shareholders by issuing new equity. Additional tier one certificates (or \"AT1 certificates\") are a type of subordinated debt, meaning they rank below other types of bank debt in the event of liquidation. This makes them riskier than senior debt, but still gives them priority over equity holders. AT1 certificates are \u201cperpetual,\u201d having no fixed maturity date. They pay interest similarly to bonds, but can often be converted into equity under certain conditions, which is why they are often referred to as CoCos, short for \u201ccontingent convertibles,\u201d in the industry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- Mashreq hired banks to advise on the issuance <\/strong><strong><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><\/strong><strong>.<\/strong> The bonds will be perpetual and non-callable for 5.5 years, meaning Mashreq cannot redeem them within this period without incurring a penalty.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>Mashreq appointed <strong>Abu Dhabi Commercial Bank<\/strong>, <strong>Al Ahli Bank of Kuwait<\/strong>\u2019s DIFC branch, <strong>BofA Securities<\/strong>, <strong>Citi<\/strong>, <strong>Emirates NBD Capital<\/strong>, <strong>FAB<\/strong>, <strong>Kamco Investment<\/strong> <strong>Company<\/strong>, <strong>Mashreq<\/strong>, and <strong>Mizuho <\/strong>as joint lead managers and joint bookrunners.<\/p>\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\/bonds\/\">Bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt-watch\/\">DEBT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/mashreq\/\">Mashreq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92739\" 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=\"92739\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">REAL ESTATE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/05\/dar-global-launches-aed-900-mn-rak-project\/\">\r\n                            Dar Global launches AED 900 mn RAK project                        <\/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\/05\/dar-global-launches-aed-900-mn-rak-project\/\" 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\/05\/dar-global-launches-aed-900-mn-rak-project\/')\">\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\/05\/dar-global-launches-aed-900-mn-rak-project\/\">\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=Dar Global launches AED 900 mn RAK project&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/05\/dar-global-launches-aed-900-mn-rak-project\/\">\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\/05\/dar-global-launches-aed-900-mn-rak-project\/&title=Dar Global launches AED 900 mn RAK project\">\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=Dar+Global+launches+AED+900+mn+RAK+project+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F05%2Fdar-global-launches-aed-900-mn-rak-project%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\/05\/dar-global-launches-aed-900-mn-rak-project\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/391.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92740\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/05\/dar-global-launches-aed-900-mn-rak-project\/391-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/391.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"391.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/391.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/391.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92739\" class=\"content-area-description single-story post-92739 post type-post status-publish format-standard has-post-thumbnail hentry category-real-estate tag-ras-al-khaimah 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\/8\/.510b195f-df2f-49ef-9729-87ae96d5bbf6.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Dar Global + Aston Martin launch AED 900 mn RAK project: <\/strong>Dubai-based developer Dar Global is launching a new AED 900 mn luxury residential development in Ras Al Khaimah, named The Astera, according to a <a target=\"_blank\" href=\"https:\/\/www.astonmartin.com\/en\/our-world\/news\/2024\/6\/4\/dar-global-introduces-stunning-beach-residence-the-astera-interiors-by-aston-martin\" style=\"\" rel=\"noopener\">press release<\/a>. The beachfront project will feature interiors designed by British luxury carmaker <a target=\"_blank\" href=\"https:\/\/www.astonmartin.com\/en\/\" style=\"\" rel=\"noopener\">Aston Martin<\/a>. The Astera will be located on Al Marjan Island and will offer one, two, and three-bedroom apartments as well as three-bedroom villas.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> The Astera, first announced by Dar Global in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/dfa5863e-d9f3-4a40-b19d-6c1794f9a87a\/%253cmark%253edar-global%253c%2Fmark%253e-%2B-aston-martin-to-create-usd-250-mn-luxury-residence-in-ras-al-khaimah#:~:text=Real%20estate%20developer,the%20Wynn%20Resort.\" style=\"\" rel=\"noopener\">April<\/a>, is slated for completion by December 2028 and will be developed in collaboration with Dubai-based developer <a target=\"_blank\" href=\"https:\/\/aarveesgroup.ae\/\" style=\"\" rel=\"noopener\">Aarvees Group<\/a>. The project will feature a private beach, an infinity pool, an indoor cinema, and a fitness center, among other amenities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The project marks Aston Martin\u2019s foray into the real estate market in the Middle East<\/strong>, and \u201cprovides an opportunity for our talented designers to help shape the interiors of an unparalleled development in the region, further elevating Aston Martin's brand and applying it to a beachfront lifestyle environment,\u201d Stefano Saporetti, director of brand diversification at Aston Martin, said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Ras Al Khaimah has been getting increased interest from investors. <\/strong>High-end hotels and casinos developer Wynn Resorts <a target=\"_blank\" href=\"https:\/\/www.prnewswire.com\/ae\/news-releases\/wynn-resorts-releases-new-updated-images-of-wynn-al-marjan-island-302136239.html\" style=\"\" rel=\"noopener\">announced<\/a> earlier its plans to develop a USD 3.9 bn integrated resort in Ras Al Khaimah, which will include gaming areas. The project will be the first integrated gaming resort in the MENA region, and is slated for handover in 2027. The emirate plans to triple the number of tourists who visit per year and double the number of rooms available by 2030. <\/p>\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\/ras-al-khaimah\/\">Ras Al Khaimah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/real-estate\/\">Real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92741\" 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=\"92741\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/05\/taqa-reaches-financial-close-on-saudi-aed-1-5-bn-water-project\/\">\r\n                            Taqa reaches financial close of Saudi AED 1.5 bn water project                        <\/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   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href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/uae\/2024\/06\/05\/taqa-reaches-financial-close-on-saudi-aed-1-5-bn-water-project\/\">\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=Taqa reaches financial close on Saudi AED 1.5 bn water project&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/05\/taqa-reaches-financial-close-on-saudi-aed-1-5-bn-water-project\/\">\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\/05\/taqa-reaches-financial-close-on-saudi-aed-1-5-bn-water-project\/&title=Taqa reaches financial close on Saudi AED 1.5 bn water project\">\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=Taqa+reaches+financial+close+on+Saudi+AED+1.5+bn+water+project+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F05%2Ftaqa-reaches-financial-close-on-saudi-aed-1-5-bn-water-project%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\/05\/taqa-reaches-financial-close-on-saudi-aed-1-5-bn-water-project\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1826.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92742\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/05\/taqa-reaches-financial-close-on-saudi-aed-1-5-bn-water-project\/1826-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1826.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1826.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1826.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1826.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92741\" class=\"content-area-description single-story post-92741 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt-watch tag-saudi-arabia tag-taqa 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\/.8e01c0e1-a83e-4fd7-9f78-24d7bf549597.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Taqa secures financing from local and int\u2019l lenders for AED 1.5 bn Saudi water project:<\/strong> A consortium comprising Abu Dhabi National Energy Company (Taqa), Saudi\u2019s <a target=\"_blank\" href=\"https:\/\/visioninvest.com\/\" style=\"\" rel=\"noopener\">Vision International Investment Company (Vision Invest)<\/a> and the <a target=\"_blank\" href=\"https:\/\/www.gic.com.kw\/\" style=\"\" rel=\"noopener\">Gulf Investment Corporation (GIC)<\/a>, secured 82% of the AED 1.5 bn in financing for <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/2c78e867-0099-4e77-862c-f8f933db7472\/taqa-to-develop-makkah-water-infrastructure-project\" style=\"\" rel=\"noopener\">Juranah Independent Strategic Water Reservoir<\/a> in Makkah from local and international lenders, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/328.pdf\" style=\"\" rel=\"noopener\">p<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/328.pdf\" style=\"\" rel=\"noopener\">ress release<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/328.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. No information was disclosed on the remaining portion of the funding. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Refresher:<\/strong> The companies inked agreements for the project with Saudi Water Partnership Company in late December 2023 to address pressing water requirements throughout Saudi Arabia and manage peak demand for water in Makkah and Madinah during the Hajj season. Taqa owns a 35% shareholding in the project company and a 50% stake in the project\u2019s operations and maintenance company. Details regarding the share distribution among the rest of the members of the consortium have not been disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s in?<\/strong> Alinma Bank, Banque Saudi Fransi (BSF), Saudi Investment Bank (SAIB) and Commercial Bank of Dubai (CBD) are funding the project. The Saudi Water Partnership Company had said it reached financial closure <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/88cc5407-4bc7-47a1-bcc0-1725059c591d\/al-moammar-invested-in-elon-musk%25e2%2580%2599s-ai-startup\" style=\"\" rel=\"noopener\">last week<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The project\u2019s details: <\/strong>The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/88cc5407-4bc7-47a1-bcc0-1725059c591d\/al-moammar-invested-in-elon-musk%25e2%2580%2599s-ai-startup\" style=\"\" rel=\"noopener\">project<\/a> will be executed under a build, own, operate, and transfer (BOOT) model with a 30-year concession and is set to begin operations in 1Q 2027. ISWR has a storage capacity of 2 mn cubic meters and an operational tank capacity of 500k cubic meters to support the potable water distribution system.<\/p>\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\/debt-watch\/\">DEBT WATCH<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/taqa\/\">Taqa<\/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=\"92743\" 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=\"92743\">\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\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/05\/shuaa-capital-appoints-new-coo-and-cco-mubadala-taps-senior-private-equity-exec\/\">\r\n                            Shuaa Capital appoints new COO and CCO + Mubadala taps senior private equity exec                        <\/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\/05\/shuaa-capital-appoints-new-coo-and-cco-mubadala-taps-senior-private-equity-exec\/\" 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\/05\/shuaa-capital-appoints-new-coo-and-cco-mubadala-taps-senior-private-equity-exec\/')\">\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\/05\/shuaa-capital-appoints-new-coo-and-cco-mubadala-taps-senior-private-equity-exec\/\">\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=Shuaa Capital appoints new COO and CCO + Mubadala taps senior private equity exec&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/05\/shuaa-capital-appoints-new-coo-and-cco-mubadala-taps-senior-private-equity-exec\/\">\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\/05\/shuaa-capital-appoints-new-coo-and-cco-mubadala-taps-senior-private-equity-exec\/&title=Shuaa Capital appoints new COO and CCO + Mubadala taps senior private equity exec\">\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=Shuaa+Capital+appoints+new+COO+and+CCO+%2B+Mubadala+taps+senior+private+equity+exec+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F05%2Fshuaa-capital-appoints-new-coo-and-cco-mubadala-taps-senior-private-equity-exec%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\/05\/shuaa-capital-appoints-new-coo-and-cco-mubadala-taps-senior-private-equity-exec\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/549.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92744\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/05\/shuaa-capital-appoints-new-coo-and-cco-mubadala-taps-senior-private-equity-exec\/549-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/549.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"549.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/549.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/549.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92743\" class=\"content-area-description single-story post-92743 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam-uae tag-moves tag-mubadala tag-shuaa-capital 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\/.140ace7d-931d-4c44-a723-c3b6552c80d0.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Shuaa Capital<\/strong> appointed <strong>Ziad Mans<\/strong><strong>our<\/strong> (<a target=\"_blank\" href=\"https:\/\/ae.linkedin.com\/in\/ziad-g-mansour\" style=\"\" rel=\"noopener\">Linkedin<\/a>) as<strong> chief operating officer<\/strong>, and <strong>Islam <\/strong><strong>Mahrous <\/strong>(<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/islammahros\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as chief compliance officer, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/330.pdf\" style=\"\" rel=\"noopener\">DFM disclosure (pdf)<\/a>. Mansour has been Shuaa\u2019s head of operations for 12 years. Prior to that, he held the position of vice president at the firm for over five years. Mahrous most recently held the role of director and head of compliance at Shuaa for two years, before which he served as VP of compliance for corporate governance and money laundering reporting officer for four years. .<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">The company also tapped <strong>Aarthi Chandrasekaran<\/strong> (<a target=\"_blank\" href=\"https:\/\/ae.linkedin.com\/in\/aarthi-chandrasekaran-81a45489\" style=\"\" rel=\"noopener\">Linkedin<\/a>) as <strong>head of asset management<\/strong>, and <strong>Mazen Farah<\/strong> as <strong>head of capital markets<\/strong> (<a target=\"_blank\" href=\"https:\/\/ae.linkedin.com\/in\/mazenfarah\" style=\"\" rel=\"noopener\">Linkedin<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong>The investment bank <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/b025d93a-2301-4749-b500-42ee4711ad34\/%253cmark%253eshuaa%253c%2Fmark%253e-to-issue-bonds-for%253cmark%253e-capital%253c%2Fmark%253e-optimization-%2B-emirates-islamic-taps-banks-for-sukuk\" style=\"\" rel=\"noopener\">tapped<\/a> Wafik Ben Mansour as CEO earlier in May. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER- <\/strong>The recent hires coincide with the investment bank's efforts toward a capital optimization plan. This plan involved <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/b025d93a-2301-4749-b500-42ee4711ad34\/%253cmark%253eshuaa%253c%2Fmark%253e-to-issue-bonds-for%253cmark%253e-capital%253c%2Fmark%253e-optimization-%2B-emirates-islamic-taps-banks-for-sukuk\" style=\"\" rel=\"noopener\">issuing AED 642.5 mn<\/a> in new bonds, extending payment terms for approximately USD 150 mn worth of bonds, and appointing a new <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/b5114566-9a3a-4b31-86e9-e02471193f87\/%253cmark%253eshuaa%253c%2Fmark%253e-capital-%2B-sharjah-ins.-have-new-chairmen\" style=\"\" rel=\"noopener\">management team<\/a> due to significant losses in 2023. Additionally, the investment bank <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/e33d7c44-7bde-4408-8c04-f02f0307d15a\/%253cmark%253eshuaa%253c%2Fmark%253e-capital-settles-aed-500-mn-debt\" style=\"\" rel=\"noopener\">fully settled<\/a> some AED 500 mn (USD 136 mn) in margin facilities with several UAE banks.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mubada<\/strong><strong>la hires new senior member to its private equity team: <\/strong>Abu Dhabi sovereign wealth fund Mubadala Capital has recruited Sam Merksamer (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/samuel-merksamer-ba965b7\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) to be a senior member on its private equity team, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-03\/mubadala-hires-oneim-softbank-alum-merksamer-for-private-equity\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. Merksamer, formerly a partner at One Investment Management, will be focusing on direct investments.<\/p>\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\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/mubadala\/\">Mubadala<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/shuaa-capital\/\">Shuaa Capital<\/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=\"92745\" 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=\"92745\">\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\">UAE IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/05\/uae-wants-an-ai-marriage-with-the-us-al-olama-says\/\">\r\n                            UAE wants an AI \u201cmarriage\u201d with the US, Al Olama says                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        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href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/uae\/2024\/06\/05\/uae-wants-an-ai-marriage-with-the-us-al-olama-says\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=UAE wants an AI \u201cmarriage\u201d with the US, Al Olama says&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/05\/uae-wants-an-ai-marriage-with-the-us-al-olama-says\/\">\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\/05\/uae-wants-an-ai-marriage-with-the-us-al-olama-says\/&title=UAE wants an AI \u201cmarriage\u201d with the US, Al Olama says\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=UAE+wants+an+AI+%E2%80%9Cmarriage%E2%80%9D+with+the+US%2C+Al+Olama+says+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F05%2Fuae-wants-an-ai-marriage-with-the-us-al-olama-says%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\/05\/uae-wants-an-ai-marriage-with-the-us-al-olama-says\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1958.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92746\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/05\/uae-wants-an-ai-marriage-with-the-us-al-olama-says\/1958-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1958.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1958.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1958.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1958.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92745\" class=\"content-area-description single-story post-92745 post type-post status-publish format-standard has-post-thumbnail hentry category-uae-in-the-news tag-ai tag-dubai-mall tag-emaar-properties tag-enterpriseam-uae tag-g42 tag-tech tag-uae-in-the-news wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.8abc1230-5505-40d9-97da-ffa62b8810ed.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Leading the conversation on the UAE in the international press this morning: <\/strong>The UAE is looking for a \u201cmarriage\u201d with the US on AI, AI Minister Omar Al Olama told the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/b72ba623-8e3c-4d29-837b-33f6b8407fb8\" style=\"\" rel=\"noopener\">Financial Times<\/a>. \u201cWhen you look at the frontier technology, at the most cutting edge, that needs to be in coordination with the US players and there needs to be reassurances that are given to the US,\u201d Al Olama said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>US tech giant Microsoft invested <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\">USD 1.5 bn<\/a> in state-owned AI company G42 in April, as part of an agreement between the two governments to deploy AI. G42 offloaded all its stakes in Chinese businesses in a bid to reportedly appease US partners. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO-<\/strong> <strong>Emaar Properties\u2019 <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/5e1fe8a6-1635-420d-a03f-bd32f6b9d415\/%253cmark%253eemaar%253c%2Fmark%253e-earmarks-aed-1.5-bn-for-dubai-mall-expansion\" style=\"\" rel=\"noopener\">AED 1.5 bn<\/a><\/strong><strong> investment to expand Dubai Mall with <\/strong><strong>240 new luxury retail stores and F&B outlets<\/strong> got ink in <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-04\/dubai-mall-expands-to-boost-city-s-allure-for-wealthy-visitors\" style=\"\" rel=\"noopener\">Bloomberg<\/a> yesterday.<\/p>\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\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/g42\/\">G42<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/tech\/\">tech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/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=\"92747\" 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=\"92747\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/05\/network-international-becomes-first-to-roll-out-jaywan-cards-for-merchants\/\">\r\n                            Network International becomes first to roll out Jaywan  cards for merchants                        <\/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\/05\/network-international-becomes-first-to-roll-out-jaywan-cards-for-merchants\/\" 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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Jaywan \u2014 which uses licensing technology from Indian payment operator NPCI \u2014 is <a target=\"_blank\" href=\"https:\/\/www.khaleejtimes.com\/business\/finance\/uae-banks-begin-rolling-out-jaywan-debit-cards\" style=\"\" rel=\"noopener\">being rolled out<\/a> in stages among local banks, with all banks expected to replace debit cards in the country with the local card over the next two and a half years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead, Jaywan\u2019s offerings will expand to include international acceptance points<\/strong>, facilitating card-based payments abroad for UAE residents. <\/p>\n<p class=\"tag-border-left\"> ENERGY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Presight + Esyasoft to bring AI solutions to energy distribution:<\/strong> G42 data analytics subsidiary <a target=\"_blank\" href=\"https:\/\/www.presight.ai\/%5C\" style=\"\" rel=\"noopener\">Presight<\/a> and IHC\u2019s <a target=\"_blank\" href=\"https:\/\/www.esyasoft.com\/\" style=\"\" rel=\"noopener\">Esyasoft<\/a> formed an Abu Dhabi-based joint venture dubbed IntelliGrid, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/394.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The JV targets deploying smart gas grids and developing advanced metering infrastructure, digital Industrial Internet of Things (IIoT) devices, and intelligent AI platforms. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Nuclear energy watchdog strengthens regulation ties with Korea: <\/strong>A delegation from the <a target=\"_blank\" href=\"http:\/\/www.fanr.gov.ae\/en\" style=\"\" rel=\"noopener\">Federal<\/a><a target=\"_blank\" href=\"http:\/\/www.fanr.gov.ae\/en\" style=\"\" rel=\"noopener\">Authority for Nuclear Regulation<\/a> (FANR) met with the South Korean Nuclear Safety and Security Commission during a visit to the country, exchanging insights and updates on the two nations\u2019 nuclear programs and regulatory measures, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3hvdw4-fanr-meets-with-key-korean-stakeholders-discusses\" style=\"\" rel=\"noopener\">Wam<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FANR also renewed a cooperation agreement with the Korea Institute of Nuclear Safety, <\/strong>focusing on regulatory management, advanced nuclear technologies, safety research, and radioactive waste management.<\/p>\n<p class=\"tag-border-left\"> MANUFACTURING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mubadala + GCL to bring polysilicon manufacturing to the UAE: <\/strong>Mubadala\u2019s wholly-owned unit MDC Power inked an agreement with Chinese GCL Tech to explore the development of the first polysilicon manufacturing facility in the UAE, GCL said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/395.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. If implemented, the facility will be developed by GCL\u2019s subsidiary, GCL Suzhou, and is expected to become the \u201cworld\u2019s largest production base in the polysilicon industry outside China,\u201d according to GCL. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GCL soon to break ground on the facility? <\/strong>After two years of studying the project, GCL expects to begin constructing the project this year, <a target=\"_blank\" href=\"https:\/\/m.energytrend.com\/news\/20240604-47331.html\" style=\"\" rel=\"noopener\">EnergyTrend<\/a> reports, citing the Chinese holding company\u2019s 2023 financial statements.<\/p>\n<p class=\"tag-border-left\"> HOSPITALITY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aman Group to bring its Janu brand to Dubai:<\/strong> Luxury hotel group <a target=\"_blank\" href=\"https:\/\/sleepifier.com\/?keywords[]=Group%3A+Aman+Hotels+International\" style=\"\" rel=\"noopener\">Aman Group<\/a> unveiled Janu Dubai, a 150-key skyscraper situated in Dubai International Financial Centre, according to a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/januhotels_welcometojanu-janudubai-activity-7203430258958675968-ffFV?utm_source=share&amp;utm_medium=member_desktop\" style=\"\" rel=\"noopener\">statement<\/a>. The luxury hotel is set to open by 2027 and will feature around 150 luxurious hotel rooms, residences, dining options, and a comprehensive wellness center. The building, owned by <a target=\"_blank\" href=\"https:\/\/www.aliadevelopments.ae\/\" style=\"\" rel=\"noopener\">Alia Developments<\/a>, is being designed by architecture firm Herzog &amp; de Meuron and will be developed by Dubai-based real estate developer <a target=\"_blank\" href=\"https:\/\/www.h-h.ae\/\" style=\"\" rel=\"noopener\">H&amp;H Development<\/a>. This marks the second property for the <a target=\"_blank\" href=\"https:\/\/www.janu.com\/\" style=\"\" rel=\"noopener\">Janu<\/a> brand, after the first Janu property opened in Tokyo in March 2024. <\/p>\n<p class=\"tag-border-left\">SPORTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sharjah Ruler approves two new stadia: <\/strong>Ruler of Sharjah and Supreme Council Member Sheikh Dr. Sultan bin Mohammed Al Qasimi has offered Kalba Club and Khorfakkan Club each a stadium on cooler mountain peaks, following their performances in the Adnoc Pro League\u2019s 2023\/2024 season, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3h9yg8-stadiums-mountains-khorfakkan-kalba-sharjah-ruler\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The project ensures better weather conditions and a 10 degree difference atop the mountains. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also in the works is the<\/strong><strong> \u201cSharjah Scientific Complex\u201d project<\/strong>, which would house 10k books acquired by Sheikh Dr. Sultan bin Mohammed Al Qasimi. <\/p>\n<p class=\"tag-border-left\">AVIATION- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Etihad airways signed an MoU with Royal Air Maroc to boost commercial and <\/strong><strong>operational cooperation<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.etihad.com\/en-dk\/news\/etihad-airways-and-royal-air-maroc-agree-mou-to-further-relationship\" style=\"\" rel=\"noopener\">press release<\/a>. The agreement promises to bolster cooperation between both airlines, including on codeshare arrangements to cover more domestic routes in Morocco and Africa, developing a frequent flier program, and strengthening cooperation on ground handling, maintenance and engineering.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Emirates Airlines has invested USD 3 bn into a program aiming to <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.emirates.com\/media-centre\/emirates-to-retrofit-an-additional-71-a380s-and-b777s-extending-airlines-nose-to-tail-cabin-refreshes-to-191-aircraft\/\" style=\"\" rel=\"noopener\">refurbish 191<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.emirates.com\/media-centre\/emirates-to-retrofit-an-additional-71-a380s-and-b777s-extending-airlines-nose-to-tail-cabin-refreshes-to-191-aircraft\/\" style=\"\" rel=\"noopener\">aircraft<\/a><\/strong><strong> last year<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.albayan.ae\/economy\/tourism\/2024-06-04-1.4883689\" style=\"\" rel=\"noopener\">Al Bayan<\/a> quotes Adel Al Redha, COO and VP at the carrier, as saying. The investment came as Boeing 777X aircraft were excluded from their scheduled delivery in 2025 amid manufacturing delays.<\/p>\n<p class=\"tag-border-left\">RAIL- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Etihad Rail + CSP Abu Dhabi partner on rail transport: <\/strong>UAE rail operator Etihad Rail has inked an agreement with Cosco Shipping Ports Abu Dhabi Container Freight Station (CSP) to boost logistics, supply chains, and connectivity across the UAE, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/etihad-rail-and-csp-abu-dhabi-cfs-sign-mou-for-integrated-rail-transport-services-lbexwk1c\" style=\"\" rel=\"noopener\">press release<\/a>. The agreement will reduce CSP\u2019s reliance on trucking and contribute to curbing 21% of emissions attributable to the country\u2019s road sector by 2050. No investment ticket or timeline were disclosed as part of the statement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> CSP will use Etihad Rail to move goods between Khalifa Port and other logistics hubs and industrial zones within the UAE for better resource, time, and asset management, the statement notes. Etihad Rail\u2019s freight rail terminals will also be used as storage and distribution hubs for CSP goods, streamlining logistics operations by establishing strategic inland nodes for cargo consolidation and deconsolidation.<\/p>\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- Dubai Health and Erada partner on addiction treatments:<\/strong> Dubai\u2019s integrated academic healthcare system Dubai Health inked an MoU with the Erada Centre for Treatment and Rehab to develop an advanced model of care for patients with substance abuse disorder, according to the <a target=\"_blank\" href=\"https:\/\/mediaoffice.ae\/en\/news\/2024\/june\/04-06\/dha-and-erada-centre\" style=\"\" rel=\"noopener\">Dubai Media Office<\/a>. The agreement will see the two entities cooperate in patient transfer for additional medical needs, logistical support, information exchange, and training and development. Erada will also work with the Mohammed Bin Rashid University Of Medicine and Health Sciences to develop educational programs on substance abuse treatment, residency, and research.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- DoH + Pfizer to improve RWD capabilities: <\/strong>Abu Dhabi\u2019s Department of Health inked an MoU with biopharma giant Pfizer Gulf to advance disease prediction, prevention, and personalized treatment plans in Abu Dhabi, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3hvdni-department-health-abu-dhabi-partners-with-pfizer\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The partnership aims to improve real-world data generation and analysis, with a focus on enhancing the capabilities of Abu Dhabi\u2019s healthcare workforce. The collaboration will initially focus on using data to treat and detect sickle cell diseases, with plans to expand to other diseases in the future.<\/p>\n<p class=\"tag-border-left\">EARNINGS- <\/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:\/\/equitativa.com\/\" style=\"\" rel=\"noopener\">Equitativa\u2019s<\/a><\/strong><strong> Emirates <\/strong><strong><a target=\"_blank\" href=\"https:\/\/reit.ae\/\" style=\"\" rel=\"noopener\">real estate investment trust (REIT)<\/a><\/strong><strong> saw its bottom line rise 226% <\/strong><strong>y-o-y to USD 24.8 mn in 1Q 2024, <\/strong>according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/457.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. The REIT\u2019s total income from property grew 15% y-o-y to USD 19.7 mn over the quarter, \u201cthanks to the continued increasing occupancy level and improvement in rental rates.\u201d Its total assets also climbed 17% y-o-y, reaching USD 1.07 bn in 1Q 2024.<\/p>\n<p class=\"tag-border-left\">TRADE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sharjah, China to boost ties:<\/strong> A delegation from Sharjah \u2014 led by the Department of Government Relations \u2014 attended high-level meetings in China\u2019s Beijing and Shandong provinces yesterday, discussing the strengthening of economic, cultural, and academic ties and cooperation across sectors, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/13y6qi6-sharjah-strengthens-cultural-economic-partnerships\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The delegation met with the China Council for the Promotion of International Trade and the China Chamber of Commerce for Import and Export of Machinery and Electronic Products on the sidelines of their working visit, plus leading Chinese technology companies Xiaomi and Huawei Beijing Research Centre.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DGR also discussed ramping up cultural, tourism, and heritage ties with China\u2019s National Cultural Heritage Administration<\/strong>, and collaborations in science, technology, education, and healthcare sectors with universities, research institutions, and health authorities in China.<\/p>\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\/aman-group\/\">Aman Group<\/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\/earnings\/\">earnings<\/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\/equitativa\/\">Equitativa<\/a>\n                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<\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92749\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"92749\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/05\/ackman-sells-10-of-pershing-square-for-usd-1-1-bn\/\">\r\n                            Ackman sells 10% of Pershing Square for USD 1.1 bn                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    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\r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/05\/ackman-sells-10-of-pershing-square-for-usd-1-1-bn\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/400.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92750\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/05\/ackman-sells-10-of-pershing-square-for-usd-1-1-bn\/400-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/400.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"400.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/400.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/400.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92749\" class=\"content-area-description single-story post-92749 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-asset-management tag-enterpriseam-uae tag-planet-finance 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\/.f7a11314-a911-4de3-851d-7a1211e6aef0.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ackman offloads USD 1.1 bn stake in Pershing Square:<\/strong> US b\u2019naire investor Bill Ackman has offloaded a 10% stake in hedge fund management company Pershing Square in a USD 1.1 bn transaction, according to a <a target=\"_blank\" href=\"https:\/\/pershingsquareholdings.com\/pershing-square-holdings-ltd-notes-the-sale-by-pershing-square-capital-management-l-p-of-a-10-common-equity-interest-to-strategic-investors\/\" style=\"\" rel=\"noopener\">statement<\/a> from the company. The sale, which values the company at more than USD 10 bn, comes ahead of a possible IPO next year that could make the company the first major hedge fund to go public in more than a decade, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/cd108c48-8c6b-40bc-bde6-3c7e07444b39\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">The buyers:<\/strong><span style=\"background-color: transparent;\"> The stake was sold to a number of strategic investors including US investment management firm <\/span><a target=\"_blank\" href=\"https:\/\/www.iconiqcapital.com\/\" rel=\"noopener\">ICONIQ Capital<\/a><span style=\"background-color: transparent;\">, Israeli ins. Company <\/span><a target=\"_blank\" href=\"http:\/\/www.igudbit.org.il\/eng\/?CategoryID=423&amp;ArticleID=412\" rel=\"noopener\">Menora Mivtachim Holdings<\/a><span style=\"background-color: transparent;\">, and Bermuda-based <\/span><a target=\"_blank\" href=\"https:\/\/www.archgroup.com\/\" rel=\"noopener\">Arch Capital Group<\/a><span style=\"background-color: transparent;\">, among others.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A lofty valuation: <\/strong>The stake sale hands Pershing Square a high valuation compared to private equity groups that manage much larger asset pools, the FT writes. The company manages nearly USD 15 bn in assets that generated around USD 155 mn in management fees in 2023. Meanwhile, private equity outfit <a target=\"_blank\" href=\"https:\/\/www.tpg.com\/\" style=\"\" rel=\"noopener\">TPG<\/a> \u2014 which was valued at around a similar USD 10 bn when it went public in early 2022 \u2014 generated more than USD 600 mn in management fees the year before its listing.<\/p>\n<p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are mixed this morning<\/strong>, with the Nikkei and Shanghai Composite in the red, while the ASX 200, Kospi, and Hang Seng are all in the green. <strong>US equities futures were comfortably in the green overnight<\/strong> as traders look forward to yet another data dump later today \u2014 this time <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/06\/04\/stock-market-today-live-updates.html\" style=\"\" rel=\"noopener\">May private payroll data<\/a> from ADP. <strong>Futures for major European benchmarks were all up<\/strong> in overnight trading with the exception of France\u2019s CAC 40. <\/p>\n<p><a target=\"_blank\" id=\"t.961beb463336ad274dc629b0e1fd0998b3a5d1ef\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p>\n<div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;orphans:2;widows:2;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,919<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: -6.0%)<\/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:1.0;orphans:2;widows:2;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3,986<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: -1.8%)<\/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:1.0;orphans:2;widows:2;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\">3357.9<\/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: -12.6%)<\/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:1.0;orphans:2;widows:2;text-align:left\"><strong>USD : AED<\/strong><strong> CBUAE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 3.67<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 3.67<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;orphans:2;widows:2;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-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:1.0;orphans:2;widows:2;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\">11,612<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.7% (YTD: -3%)<\/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:1.0;orphans:2;widows:2;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\">26,973<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: +8.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;orphans:2;widows:2;text-align:left\"><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,291<\/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: +25.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;orphans:2;widows:2;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\">8,232<\/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: +6.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;orphans:2;widows:2;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,953<\/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\">-1.0% (YTD: +9.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;orphans:2;widows:2;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 77.27<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.4%<\/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:1.0;orphans:2;widows:2;text-align:left\"><strong>Natural gas (Nymex)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.77<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;orphans:2;widows:2;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,353.4<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.0;orphans:2;widows:2;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 70,399<\/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: +66.6%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The DFM fell 0.2 % yesterday<\/strong> on turnover of AED 420 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>Dubai Refreshment Company (+12.1%), Agility The Public Warehousing Company (+6.4%) and Emirates Central Cooling Systems Corporation (+4%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Al Salam Sudan(-8.4%), Dubai Islamic Insurance and Reinsurance Company (-4.6%) and Air Arabia (-4.1%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over on the ADX<\/strong>, the index was flat on turnover of AED 983.5 mn. Meanwhile Nasdaq Dubai rose 0.2%.<\/p>\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\/asset-management\/\">Asset management<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92751\" 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=\"92751\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/05\/uae-%f0%9f%92%97-asia\/\">\r\n                            UAE officials meet with Asian leaders to boost ties                        <\/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\/05\/uae-%f0%9f%92%97-asia\/\" 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\/05\/uae-%f0%9f%92%97-asia\/')\">\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\/05\/uae-%f0%9f%92%97-asia\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=UAE ? 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The meeting focused on strengthening bilateral cooperation between the two countries and expanding trade and investment ties through establishing a trade and economic partnership agreement. The two countries <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/apy9ct6-uae-and-philippines-agree-negotiation-scope-for\" style=\"\" rel=\"noopener\">agreed<\/a> on a scope for negotiations for a trade agreement last December. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sheikh Abdullah<\/strong><strong> also spoke with Azerbaijan\u2019s Foreign Affairs Minister Jeyhun Bayramov over the phone to discuss boosting bilateral cooperation<\/strong>, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3hvdhs-abdullah-bin-zayed-azerbaijan-discuss-enhancing\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The two addressed the climate file, as well as joint cooperation in sectors such as economy, investment, trade, development, and renewable energy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- President Sheikh Mohamed bin Zayed Al Nahyan met with an Afghan delegation led by Interior Minister Sirajuddin Haqqani<\/strong> to discuss boosting economic and development ties, as well as supporting the reconstruction and development of Afghanistan, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3hvdz0-uae-president-receives-afghan-interior-minister\" style=\"\" rel=\"noopener\">Wam<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over in Malaysia:<\/strong> Trade Minister Thani Al Zeyoudi met with Prime Minister Anwar Ibrahim to discuss deepening trade ties, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3hve1y-uae-malaysia-seek-deeper-trade-investment-ties\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The minister also met with his counterpart, Zafrul Aziz, to discuss cooperation on technology, manufacturing, and services. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>State Minister Ahmed Ali Al Sayegh and Malaysian Deputy Foreign Minister Mohamad Bin Alamin co-chaired a joint committee meeting<\/strong> that explored boosting ties between the countries in sectors including economy, tourism, entrepreneurship, SMEs, fintech, innovation, transportation, renewable energy, logistics, agriculture, food security, environment and infrastructure.<\/p>\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\/azerbaijan\/\">Azerbaijan<\/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\/uae-philippines-relations\/\">UAE-Philippines relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92753\" 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\/05\/92753-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92753\" class=\"content-area-description single-story post-92753 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;\">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;\">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:400;\">4-6 June (Tuesday-Thursday): The Hotel Show, Dubai World Trade Centre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">4-6 June (Tuesday-Thursday): INDEX, Dubai World Trade Centre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">4-6 June (Tuesday-Thursday): WORKSPACE, Dubai World Trade Centre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">4-6 June (Tuesday-Thursday): Leisure Show, Dubai World Trade Centre.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>5 June (Wednesday): Deadline for Sidara to resubmit or withdraw its takeover bid to John Wood Group. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">3-7 June (Monday-Friday): Dubai International Chamber\u2019s trade mission to Senegal and Morocco. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">10 June (Monday) Alpha Dhabi holds shareholder vote on the sale of a 49% stake in Alpha Dhabi Construction to ADQ. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">11 June (Tuesday): 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>29 October - 2 November (Tuesday-Saturday): Abu Dhabi Early Childhood Week, 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;\">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\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>Sonoro Energy to acquire 20% of UAE well manager | Network International rolls out Jaywan cards for merchants | Work on Al Maktoum to begin this month?<\/p>\n","protected":false},"featured_media":92728,"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-92727","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"742344bd-91f7-4775-8b59-9b44e895a188","teaser":"Sonoro Energy to acquire 20% of UAE well manager | Network International rolls out Jaywan cards for merchants | Work on Al Maktoum to begin this month?","photo_url":"https:\/\/ent.news\/2024\/5\/1341.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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