{"id":92910,"date":"2024-06-11T00:00:00","date_gmt":"2024-06-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=92910"},"modified":"2025-12-15T00:36:14","modified_gmt":"2025-12-15T00:36:14","slug":"eu-launches-anti-subsidy-probe-into-es-ppf-acquisition","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/eu-launches-anti-subsidy-probe-into-es-ppf-acquisition\/","title":{"rendered":"EU launches anti-subsidy probe into e&#038;\u2019s PPF acquisition"},"content":{"rendered":"<section id=\"92912\" 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=\"92912\">\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\/11\/new-federal-traffic-law-investments-overseas-from-emaar-and-bhm-capital\/\">\r\n                            THIS MORNING: New federal traffic law + Investments overseas from Emaar and BHM Capital?                        <\/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\/11\/new-federal-traffic-law-investments-overseas-from-emaar-and-bhm-capital\/\" 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photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/636.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92913\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/11\/new-federal-traffic-law-investments-overseas-from-emaar-and-bhm-capital\/636-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/636.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"636.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/636.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/636.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92912\" class=\"content-area-description single-story post-92912 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-cabinet-watch tag-investment tag-legislation-watch 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\/.bcda599f-de34-4040-8cf6-370f42e1b16d.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Good morning, lovely people. <\/strong><span style=\"background-color: transparent;\">It\u2019s an extremely M&amp;A-heavy day today, with news of an EU probe into e&amp;\u2019s takeover of PPF\u2019s assets in Eastern Europe, as well as the end of talks between Criteria Caixa and Taqa for the acquisition of Spain\u2019s Nautrgy, and Magellan Capital\u2019s acquisition of 90% of Danish Ship Finance.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also: Alpha Dhabi\u2019s shareholders approved the divestment of assets<\/strong> to ADQ and the National Corporation for Tourism and Hotels. <\/p>\n<p class=\"tag-border-left\">PUBLIC SERVICE ANNOUNCEMENTS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Dubai has opened a new bridge to reduce travel time from Garn Al Sabkha Street to <\/strong><strong>Sheikh Mohammed bin Zayed Road, <\/strong>according to a <a target=\"_blank\" href=\"https:\/\/www.rta.ae\/wps\/portal\/rta\/ae\/home\/news-and-media\/all-news\/NewsDetails\/opening-major-bridge-as-part-of-garn-al-sabkha-sheikh-mohammed-bin-zayed-road?lang=en\" style=\"\" rel=\"noopener\">statement<\/a>. The two-lane bridge \u2014 which is set to reduce travel time by 40% during peak hours \u2014 is nearly 700 m long and has the capacity to accommodate 3.2k vehicles per hour. The new bridge is also expected to reduce travel time between Sheikh Mohammed bin Zayed Road and Al Yalayes Street by 70%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SPEAKING OF THE RTA- The authority has launched a Nol travel discount card <\/strong>in collaboration with ICT solutions and services provider, MDX Solutions Middle East, in a bid to onboard additional residents, tourists, and visitors, it said in a separate <a target=\"_blank\" href=\"https:\/\/www.rta.ae\/wps\/portal\/rta\/ae\/home\/news-and-media\/all-news\/NewsDetails\/unveiling-nol-travel-card-with-exclusive-benefits-and-discounts?lang=en\" style=\"\" rel=\"noopener\">statement<\/a>. The card offers 100 exclusive promotions at hotels, restaurants, retail stores, entertainment venues, and adventure activities, alongside existing Nol card benefits. It will be available at several outlets including Zoom, Al Ansari Exchange, and Rayna Tours offices.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a><strong> AND- We have <\/strong><strong>a new federal law on traffic and road safety:<\/strong> The UAE greenlit the issuance of a new federal law on traffic and road safety, amending vehicle classification and the use of modern technologies on roads, state news agency <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/de\/article\/b3lfzd4-chaired-mohammed-bin-rashid-uae-cabinet-reviews\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The legislation looks to expand the use of self-driving vehicles and electric cars in the UAE, and identifies new driving requirements, as well as criteria for obtaining driving licenses, and vehicle ins.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The cabinet also approved: <\/strong><\/p>\n<ul>\n<li><strong>A new AI charter <\/strong>identifying the ethical use of AI; <\/li>\n<li>A first-of-its-kind law regulating the <strong>use of the human genome<\/strong>;<\/li>\n<li>Policies for<strong> federal government rentals<\/strong>; <\/li>\n<li>A policy for <strong>federal government fixed asset control<\/strong>; <\/li>\n<li>Adopting the <strong>regulatory framework for cross-licensing of financial products across the GCC<\/strong>;<\/li>\n<li>New <strong>ship licensing procedures<\/strong>; <\/li>\n<li>A federal law on <strong>combating communicable diseases<\/strong>;<\/li>\n<li>A <strong>restructuring plan for the UAE Chambers of Commerce and Industry<\/strong>; <\/li>\n<li>A guide on <strong>public-private partnerships;<\/strong><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Emirates adds additional flights for Hajj:<\/strong> Emirates Airlines has added ten extra flights to Jeddah and Medina, scheduled to fly between 7-10 June and 21-26 June in time for Hajj, according to the <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2024\/june\/10-06\/emirates-hajj\" style=\"\" rel=\"noopener\">Dubai Media Office<\/a>. The flights are timed in line with flight schedules from key Hajj markets, including Indonesia, Thailand, C\u00f4te d'Ivoire, Mauritius, South Africa, Senegal, and Pakistan. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PLUS- The airline also added 19 additional flights in mid-June<\/strong> to Amman, Dammam, Kuwait, and Beirut, in a bid to meet heightened demand during Eid Al Adha.<\/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\"><strong>#1- The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/retreat.dub.ai\/en\/\" style=\"\" rel=\"noopener\">AI Retreat<\/a><\/strong><strong> is taking place today 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>#2- <\/strong><strong>Maritime and shipping company<\/strong><strong> GulfNav will discuss the acquisition of oil storage outfit Brooge Petroleum and <\/strong><strong>Gas Investment Company today<\/strong>, a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/639.pdf\" style=\"\" rel=\"noopener\">DFM filing (pdf)<\/a> reads. Gulfnav <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/5da4d7d8-fb11-4388-b8ea-ff93766649c4\" style=\"\" rel=\"noopener\">submitted<\/a> a proposal earlier in the year for the structure of the acquisition of oil storage outfit Brooge Petroleum and Gas Investment Company to the Securities and Commodities Authority, after submitting a proposal to fully acquire the company from Nasdaq-listed Brooge Energy back in October 2023. The acquisition was initially expected to close in 4Q 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> GulfNav <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/1e9c1f9c-7161-4ee3-9c3b-261ef26184ff\/ghitha-holding-expands-with-two-cross-border-acquisitions\" style=\"\" rel=\"noopener\">confirmed<\/a> that its advisors are still assessing the Brooge Energy acquisition in February, saying it aims to complete the evaluation within the coming weeks. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The UAE and Azerbaijan will host the Ministerial Experience Exchange Forum <\/strong><strong>today<\/strong><strong> through Wednesday<\/strong> in Baku, Azerbaijan, as part of a strategic partnership inked in November 2022 to advance government knowledge exchange, <a target=\"_blank\" href=\"https:\/\/wam.ae\/ar\/article\/b3kubq6-%D8%AD%D9%83%D9%88%D9%85%D8%AA%D8%A7-%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D9%88%D8%A3%D8%B0%D8%B1%D8%A8%D9%8A%D8%AC%D8%A7%D9%86-%D8%AA%D8%B7%D9%84%D9%82%D8%A7%D9%86-%D9%85%D9%86%D8%AA%D8%AF%D9%89-%D8%AA%D8%A8%D8%A7%D8%AF%D9%84\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The two-day forum will look to ramp up UAE-Azerbaijan relations in economic diversification and investment, environmental protection and green energy, education, health, social quality of life, and public service and innovation. State Minister for Government Development and Future Ohoud Al Roumi will be in attendance, alongside several other ministry officials.<\/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\"><strong>#1- The UAE's economy is expected to grow at a 6.7% clip in 2025<\/strong> from 3.8% this year due to economic diversification efforts and robust regional trade, <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/economy\/gcc\/headline-uaes-economic-growth-will-jump-to-67-in-2025-bmi-q6s93e35\" style=\"\" rel=\"noopener\">Zawya<\/a> quotes John Ashbourne, global economist at BMI, as saying. Ashbourne also noted the UAE's strong tourism sector, diversified economy, and trade benefits from neighboring countries during BMI's Emerging Markets Key Themes 2024 webinar.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#2- Gov\u2019t to roll over USD 1 bn loan to Pakistan? <\/strong>Pakistan is reportedly planning to ask the UAE to roll over a USD 1 bn loan ahead of the loan\u2019s maturity date, Pakistani newspaper <a target=\"_blank\" href=\"https:\/\/dailytimes.com.pk\/1198405\/pakistan-to-request-uae-for-1bn-loan-rollover\/\" style=\"\" rel=\"noopener\">Daily Times<\/a> reported on Thursday, citing sources familiar with the matter. Pakistani Prime Minister Shehabz Sharif will reportedly request the rollover of the loan \u2014 which is part of an existing USD 3 bn loan \u2014 in a letter to President Sheikh Mohamed bin Zayed al-Nahyan.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>The government has already agreed to roll over two USD 1 bn deposits in <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/uae-roll-over-2-bln-loan-pakistan-provide-1-bln-additional-loan-2023-01-12\/\" style=\"\" rel=\"noopener\">January 2023<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/4078b5cf-8283-46de-9617-d0bba0ed0113\/gov%25e2%2580%2599t-rolls-over%253cmark%253e-pakistan%253c%2Fmark%253e%25e2%2580%2599s-usd-2-bn-loan\" style=\"\" rel=\"noopener\">January<\/a> of this year. The government originally granted Pakistan the loan in 2019 under a <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-03-09\/pakistan-says-it-will-get-2-billion-u-a-e-loan-soon\" style=\"\" rel=\"noopener\">USD 3 bn financial assistance package<\/a> deposited with the State Bank of Pakistan. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#3- PureHealth to gain USD 800 mn from Ardent IPO? <\/strong>Healthcare giant PureHealth could potentially gain a capital boost of USD 800 mn following the IPO of US hospital operator <a target=\"_blank\" href=\"https:\/\/ardenthealth.com\/\" style=\"\" rel=\"noopener\">Ardent Health Services<\/a>, in which PureHealth holds a 26.05% stake, <a target=\"_blank\" href=\"https:\/\/gulfnews.com\/business\/markets\/is-abu-dhabis-purehealth-getting-800-million-boost-from-us-subsidiarys-ipo-1.1718000958003\" style=\"\" rel=\"noopener\">Gulf News<\/a> reports, citing an analyst. Slated for early July, Ardent\u2019s stock market debut \u2014 expected to bring the US hospital operator\u2019s valuation to over USD 5 bn \u2014 could see the value of PureHealth\u2019s stake increase to about USD 1.3 bn. The IPO could look to raise up to USD 500 mn, sources told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-03\/ardent-health-to-seek-400-million-or-more-in-second-try-at-ipo\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The IPO isn\u2019t set in stone:<\/strong> While Ardent has filed for the IPO with the US Securities and Exchange Commission, the firm is yet to make a final decision on its listing plan, the business information service reported last week, citing sources in the know. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>The IHC healthcare subsidiary acquired the minority stake in a transaction valued at AED 1.8 bn in <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/health\/purehealth-acquires-aed18bn-stake-in-ardent-health-services\/\" style=\"\" rel=\"noopener\">May 2023<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER- <\/strong>PureHealth went public on the ADX in December last year in what was the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/7283dcc1-0a88-408f-b92a-811a205137b1\/\" style=\"\" rel=\"noopener\">second-largest IPO in the UAE<\/a> in 2023, valued at AED 36.2 bn. Prior to its IPO, the healthcare firm kicked off its expansion plan, fully acquiring the UK\u2019s largest healthcare provider, Circle Health Group, at a value of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/38dd5040-1131-419e-927e-c99cabad5ab4\/two-big-healthcare-m&amp;a-to-start-your-week#:~:text=%232%2DPureHealth,6k%20consultant%20specialists.\" style=\"\" rel=\"noopener\">USD 1.2 bn<\/a>.<\/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- Emirates Driving\u2019s board approved an acquisition of a stake in another Emirati <\/strong><strong>company<\/strong>, the company said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/879.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>, without giving away further details. The company will provide details once negotiations are completed, the disclosure said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>#5- BHM Capital plans to expand to Egypt: <\/strong>BHM Capital is in advanced talks with multiple parties to set up a joint venture to enter the Egyptian market before the end of this year, the company\u2019s CEO Abdel Hadi Al Sadi told CNBC Arabic in an <a target=\"_blank\" href=\"https:\/\/www.cnbcarabia.com\/124320\/2024\/10\/06\/%D8%A7%D9%84%D8%B1%D8%A6%D9%8A%D8%B3-%D8%A7%D9%84%D8%AA%D9%86%D9%81%D9%8A%D8%B0%D9%8A-%D9%84%D9%80-BHM-Capital-%D9%84%D9%80-CNBC-%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9:-%D9%86%D8%AA%D9%88%D9%82%D8%B9-%D8%A7%D9%86%D8%B7%D9%84%D8%A7%D9%82-%D8%A3%D8%B9%D9%85%D8%A7%D9%84-%D8%A7%D9%84%D8%B4%D8%B1%D9%83%D8%A9-%D9%81%D9%8A-%D8%A7%D9%84%D8%B3%D9%88%D9%82-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D9%82%D8%A8%D9%84-%D9%86%D9%87%D8%A7%D9%8A%D8%A9-%D8%A7%D9%84%D8%B9%D8%A7%D9%85-%D8%A7%D9%84%D8%AD%D8%A7%D9%84%D9%8A\" style=\"\" rel=\"noopener\">interview.<\/a> The firm is also set to launch in Bahrain within three months. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#6- Emaar to invest in Indonesia\u2019s USD 33 bn capital city project? <\/strong>Indonesian President Joko 'Jokowi' Widodo labeled Dubai-based real estate company Emaar Properties a \u201cbig\u201d investor in the country's new capital city, Nusantara, <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/world\/china-and-asia-pacific\/indonesia-president-names-dubais-emaar-properties-as-big-investor-in-new-capital-city-bogi2rsr\" style=\"\" rel=\"noopener\">Zawya<\/a> reports, citing Indonesian media sources. An investment agreement is expected to be finalized in a few weeks, and signed in July in the UAE, Widodo added, without disclosing the specific size of Emaar\u2019s investment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER- <\/strong>Indonesia is moving its capital from Jakarta to Nusantara on the island of Borneo in a USD 33 bn project, scheduled for handover on Indonesia's Independence Day on 17 August.<\/p>\n<p class=\"tag-border-left\"> DATA POINT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Dubai ranked second in the MENA region for its startup ecosystem,<\/strong> with an ecosystem value of USD 23 bn, according to Startup Genome and the Global Entrepreneurship Network\u2019s <a target=\"_blank\" href=\"https:\/\/startupgenome.com\/report\/gser2024\" style=\"\" rel=\"noopener\">2024 Global Startup Ecosystem<\/a><a target=\"_blank\" href=\"https:\/\/startupgenome.com\/report\/gser2024\" style=\"\" rel=\"noopener\">Report<\/a>. Neighboring Abu Dhabi came in at fifth place, and Sharjah in seventh place. Dubai is ranked 18th globally in the report\u2019s emerging ecosystems ranking \u2014 which spotlights ecosystems with high potential to become top global performers in the coming years \u2014 while Abu Dhabi ranked 61-70.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, Abu Dhabi was labeled the fastest-growing emerging ecosystem in Mena, <\/strong>with a 29% growth in ecosystem value, according to the report. The emirate racked up USD 4.2 bn in ecosystem value between July 2021 and December 2023, with total early-stage funding amounting to USD 324 mn during the period. Total venture capital funding in Abu Dhabi reached USD 1.1 bn from 2019 to 2023.<\/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>Enter <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.apple.com\/apple-events\/\" style=\"\" rel=\"noopener\">Apple Intelligence<\/a><\/strong><strong>, <\/strong>Apple\u2019s shot at establishing itself as an AI player to be reckoned with in partnership with none other than OpenAI. Apple boss Tim Cook the \u201cnext big step\u201d that will see the iPhone and Macbook maker integrate ChatGPT on its devices and reintroduce Siri as the virtual assistant it was originally promised to be. Check out Axios\u2019 full rundown of what to expect coming to an Apple device near you soon <a target=\"_blank\" href=\"https:\/\/www.axios.com\/2024\/06\/10\/apple-ai-strategy-openai\" style=\"\" rel=\"noopener\">here<\/a> or watch the full WWDC24 keynote <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=RXeOiIDNNek\" style=\"\" rel=\"noopener\">here<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not everyone is thrilled though,<\/strong> including Tesla CEO Elon Musk who took to his personal venting platform X to say that he would <a target=\"_blank\" href=\"https:\/\/x.com\/elonmusk\/status\/1800265431078551973\" style=\"\" rel=\"noopener\">ban Apple devices<\/a> at his companies if the tech giant integrates OpenAI into its operating systems on the back of it being an \u201cunacceptable security violation.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And that includes Wall Street<\/strong>, which despite the mostly excited media hype around the announcement saw Apple shares falling nearly 2% on the Nasdaq yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While in our neck of the woods<\/strong>, hopes for a ceasefire in Gaza are building again with the UN Security Council <a target=\"_blank\" href=\"https:\/\/news.un.org\/en\/story\/2024\/06\/1150886\" style=\"\" rel=\"noopener\">giving its backing<\/a> to a US resolution to end the 248-day-old conflict that has already claimed over 37k lives.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And over in Europe,<\/strong> it looks like Macron\u2019s wager on a snap election is at risk of backfiring, with the nation\u2019s first opinion poll following the announcement <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/france-enters-election-mode-after-far-right-win-european-parliament-vote-2024-06-10\/\" style=\"\" rel=\"noopener\">forecasting<\/a> Marine Le Pen\u2019s far-right National Rally coming in first.<\/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>Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/uaeformar.enterprise.news\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/836.jpg?ssl=1\"><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/cabinet-watch\/\">CABINET WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment\/\">investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    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       <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/11\/eu-launches-probe-into-es-usd-2-4-bn-acquisition-of-ppfs-assets-taqa-criteria-drop-talks-for-naturgy\/\">\r\n                            EU launches probe into e&amp;\u2019s USD 2.4 bn acquisition of PPF\u2019s assets + Taqa, Criteria drop talks for Naturgy                        <\/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 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1978.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92916\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/11\/eu-launches-probe-into-es-usd-2-4-bn-acquisition-of-ppfs-assets-taqa-criteria-drop-talks-for-naturgy\/1978-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1978.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1978.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1978.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1978.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92915\" class=\"content-area-description single-story post-92915 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-e tag-enterpriseam-uae tag-ma-watch tag-telecoms 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\/.c2c77b54-9e7a-47f1-8630-f085caf655a0.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The European Commission is investigating e&amp;\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/a9ddbc35-cadf-4fe9-8368-509c67955a3b\" style=\"\" rel=\"noopener\">bid to acquire<\/a><\/strong><strong> Czech PPF Telecom <\/strong><strong>Group\u2019s assets in Eastern Europe<\/strong> in its first anti-subsidy probe into foreign buyers, the watchdog said in a <a target=\"_blank\" href=\"https:\/\/ec.europa.eu\/commission\/presscorner\/detail\/en\/ip_24_3166\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. The commission claims the telecoms giant received state support \u2014 in the form of a guarantee and a loan from state banks \u2014 that impacted its position to acquire the company and hampers market competition, it said in the statement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>e&amp;\u2019s response:<\/strong> The telco said in an emailed statement to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/media-telecom\/eu-assessing-deal-by-uaes-e-ppf-over-alleged-subsidies-2024-06-10\/\" style=\"\" rel=\"noopener\">Reuters<\/a> and <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-10\/emirates-telecom-s-2-2-billion-ppf-deal-at-risk-in-eu-probe?srnd=infotech\" style=\"\" rel=\"noopener\">Bloomberg<\/a> that it is working with the commission \u201ctowards a conclusion on the authority\u2019s review.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The commission has until 15 October to make a decision<\/strong>, it said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND-<\/strong> . e&amp; had agreed to acquire a 50% stake plus one share in PPF Group\u2019s telecoms units in Bulgaria, Hungary, Serbia, and Slovakia for EUR 2.5 bn (AED 9.9) last August. Bulgaria\u2019s Competition Protection Commission greenlit e&amp;\u2019s acquisition of Bulgarian mobile operator Yettel Bulgaria and telecoms infrastructure provider Cetin Bulgaria from PPF Group in February as part of the transaction, with CEO Hatem Dowidar saying in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/bd8972ce-de3d-4d1f-b7c3-06be999a4da8\/flight-availability-in-the-uae-puts-us-in-fifth-place-globally-for-international-air-connectivity#:~:text=%231%2D%20e%26%20expects,in%20Eastern%20Europe.\" style=\"\" rel=\"noopener\">February<\/a> he expected to close the acquisition a few weeks later, following the receipt of final regulatory approvals.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This comes amid a rising wave of protectionism in the EU that has seen several overseas transactions from the region blocked by governments. <\/strong>The UK <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f40ccdb9-f78b-4a85-a743-93705a67283a\/redbird-imi-to-auction-off-telegraph-and-spectator-rights-amid-uk-government-opposition\" style=\"\" rel=\"noopener\">made legislative changes<\/a> to block a takeover by Abu Dhabi-based investors of newspapers the Telegraph and the Spectator, citing preserving editorial independence as a major concern. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not just the UAE:<\/strong> A US watchdog <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ac5c1717-467c-423f-9deb-e1dbb11fe5ca\/rising%253cmark%253e-protectionism%253c%2Fmark%253e-in-the-west-scuppers-saudi-chip-investment,-threatens-uae-newspaper-buy\" style=\"\" rel=\"noopener\">reportedly<\/a> forced Aramco Ventures\u2019 VC fund <a target=\"_blank\" href=\"https:\/\/www.prosperity7vc.com\/\" style=\"\" rel=\"noopener\">Prosperity7<\/a> to fully divest <a target=\"_blank\" href=\"https:\/\/rain.ai\/\" style=\"\" rel=\"noopener\">Rain Neuromorphics<\/a>, a Silicon Valley AI chip startup, in December. <\/p>\n<p class=\"tag-border-left\">OTHER M&amp;A NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another overseas M&amp;A falling through? <\/strong>Abu Dhabi\u2019s Taqa ended <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/74706d6e-3315-4796-99f7-ca904f248f8b\/taqa%25e2%2580%2599s-naturgy-bid-could-hit-resistance-in-spain-%2B-algeria,-reports-suggest\" style=\"\" rel=\"noopener\">talks<\/a> with Criteria Caixa over an acquisition of Spanish gas producer and renewables player Naturgy, in which Criteria is the largest shareholder, \u201cwithout any agreement,\u201d Criteria Caixa said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/981.pdf\" style=\"\" rel=\"noopener\">filing (pdf)<\/a> yesterday. The two companies were reportedly looking to \u201ccooperate\u201d on a potential acquisition. Criteria Caixa already owns a 26.7% stake in the company. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND-<\/strong>Taqa has been in talks with Naturgy\u2019s largest shareholders \u2014 <a target=\"_blank\" href=\"https:\/\/www.cvc.com\/\" style=\"\" rel=\"noopener\">CVC Capital Partners<\/a>, Criteria Caixa, and <a target=\"_blank\" href=\"https:\/\/www.global-infra.com\/\" style=\"\" rel=\"noopener\">Global Infrastructure Partners<\/a> \u2014 to potentially acquire their stakes in the Spanish company.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not clear whether Taqa could still acquire GIP or CVC\u2019s stake in the company<\/strong>, despite the termination of talks between the company and Criteria Caixa. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The transaction was expected to hit resistance: <\/strong>The Spanish government \u2014 which is also preventing foreign ownership in \u201cstrategic\u201d companies and industries \u2014 was reportedly looking to maintain a stake in Naturgy if the acquisition went through. The Algerian government was also reportedly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/74706d6e-3315-4796-99f7-ca904f248f8b\/taqa%25e2%2580%2599s-naturgy-bid-could-hit-resistance-in-spain-%2B-algeria,-reports-suggest\" style=\"\" rel=\"noopener\">considering blocking<\/a> the transaction, to protect its stake in the company. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/e\/\">e&amp;<\/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\/telecoms\/\">telecoms<\/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=\"92917\" 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=\"92917\">\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\/11\/dubai-based-magellan-group-snaps-up-majority-stake-in-danish-ship-finance\/\">\r\n                            Dubai-based Magellan Group to add Danish Ship Finance to its portfolio in USD 700 mn acquisition                        <\/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\/11\/dubai-based-magellan-group-snaps-up-majority-stake-in-danish-ship-finance\/\" 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\/11\/dubai-based-magellan-group-snaps-up-majority-stake-in-danish-ship-finance\/')\">\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\/11\/dubai-based-magellan-group-snaps-up-majority-stake-in-danish-ship-finance\/\">\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=Dubai-based Magellan Group snaps up majority stake in Danish Ship Finance&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/11\/dubai-based-magellan-group-snaps-up-majority-stake-in-danish-ship-finance\/\">\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\/11\/dubai-based-magellan-group-snaps-up-majority-stake-in-danish-ship-finance\/&title=Dubai-based Magellan Group snaps up majority stake in Danish Ship Finance\">\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=Dubai-based+Magellan+Group+snaps+up+majority+stake+in+Danish+Ship+Finance+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F11%2Fdubai-based-magellan-group-snaps-up-majority-stake-in-danish-ship-finance%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\/11\/dubai-based-magellan-group-snaps-up-majority-stake-in-danish-ship-finance\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/536.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92918\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/11\/dubai-based-magellan-group-snaps-up-majority-stake-in-danish-ship-finance\/536-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/536.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"536.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/536.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/536.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92917\" class=\"content-area-description single-story post-92917 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-enterpriseam-uae tag-investment tag-ma-watch tag-shipping 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\/.0fda133a-1994-4e81-83e9-cb795267ebd4.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Dubai-based investor <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.magellancap.com\/\" style=\"\" rel=\"noopener\">Magellan Capital<\/a><\/strong><strong> is set to snap up 90% of ship <\/strong><strong>financing firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/skibskredit.dk\/\" style=\"\" rel=\"noopener\">Danish Ship Finance<\/a><\/strong><strong> (DSF) in a EUR 700 mn transaction,<\/strong> <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-10\/uae-investor-buys-danish-ship-finance-in-bid-to-build-portfolio?srnd=homepage-americas\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported. The move comes as Magellan looks to diversify its investment portfolio, and marks the group\u2019s first major investment. A timeline for the acquisition was not disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Details:<\/strong> The acquisition will see Magellan snapping up a 90% stake in the company from Nordic private equity player Axcel and two Danish pension funds which had bought DSF in a 2016 USD 613 mn transaction, Bloomberg said. Danish Maritime Fund will retain the remaining 10% stake in the company. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Magellan is beefing up its portfolio:<\/strong> Despite having its origins as a player in the marine services sector, Magellan is looking to diversify its portfolio by adding advisory and services, CIO Ahmed Omer said. The outfit is funding its expansion from USD 1.1 bn that its owner Hassan El Ali set aside after <a target=\"_blank\" href=\"https:\/\/www.adnoc.ae\/en\/news-and-media\/press-releases\/2021\/adnoc-logistics-and-services-successfully-closes-zakher-marine-international-acquisition\" style=\"\" rel=\"noopener\">selling<\/a> Zakher Marine to Adnoc Logistics &amp; Services. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The outfit expects three more acquisitions worth some USD 200 mn for the remainder of <\/strong><strong>the year<\/strong>, targeting firms in real estate, luxury, and healthcare, Omar said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>News of the sale was first picked up in April,<\/strong> when Mubadala Investment Company was named as a potential DSF buyer, <a target=\"_blank\" href=\"https:\/\/archive.is\/kf3YZ#selection-1139.0-1139.92\" style=\"\" rel=\"noopener\">TradeWinds<\/a> reported citing an InsideBusiness report. DSF had responded to the claims by reiterating that a clarification was coming in 1H 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About DSF: <\/strong>The Copenhagen-based vessel mortgage finance provider finances some 679 vessels and holds a USD 4.9 bn shipping loan book.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment\/\">investment<\/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\/shipping\/\">shipping<\/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=\"92919 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=\"92919\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/11\/92919-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92919\" class=\"content-area-description single-story post-92919 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.mashreq.com\/en\/uae\/about-us\/our-company\/awards-accolades\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1928.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92920\" 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=\"92920\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/11\/presight-completes-acquisition-of-aiq-for-usd-350-mn\/\">\r\n                            Presight completes acquisition of AIQ for USD 350 mn                        <\/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\/11\/presight-completes-acquisition-of-aiq-for-usd-350-mn\/\" 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\/11\/presight-completes-acquisition-of-aiq-for-usd-350-mn\/')\">\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\/11\/presight-completes-acquisition-of-aiq-for-usd-350-mn\/\">\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=Presight completes acquisition of AIQ for USD 350 mn&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/11\/presight-completes-acquisition-of-aiq-for-usd-350-mn\/\">\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\/11\/presight-completes-acquisition-of-aiq-for-usd-350-mn\/&title=Presight completes acquisition of AIQ for USD 350 mn\">\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=Presight+completes+acquisition+of+AIQ+for+USD+350+mn+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F11%2Fpresight-completes-acquisition-of-aiq-for-usd-350-mn%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\/11\/presight-completes-acquisition-of-aiq-for-usd-350-mn\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/958.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92921\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/11\/presight-completes-acquisition-of-aiq-for-usd-350-mn\/958-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/958.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"958.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/958.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/958.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92920\" class=\"content-area-description single-story post-92920 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-adnoc tag-adnoc-distribution tag-enterpriseam-uae tag-g42 tag-ma-watch tag-presight 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\/.1a1c1987-70f6-4f9f-a49b-227a133e4156.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Presight snaps USD 350 mn stake in AIQ:<\/strong> ADX-listed data analytics firm <a target=\"_blank\" href=\"https:\/\/www.presight.ai\/\" style=\"\" rel=\"noopener\">Presight AI<\/a> completed its acquisition of a 51% stake in AIQ, Adnoc\u2019s AI joint venture with G42, in a USD 350 mn transaction, an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/864.pdf\" style=\"\" rel=\"noopener\">ADX filing (pdf)<\/a> reads. The payment is structured in two tranches: USD 245 mn, which it has already paid, and USD 105 mn due by 30 November. Presight had said previously that the transaction values AIQ at USD 1.4 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> Presight received board approval for the acquisition in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/d624ca56-ec09-48f6-af7f-2966baa906be\/microsoft-and-g42-invest-usd-1-bn-in-kenya-geothermal-data-center\" style=\"\" rel=\"noopener\">late May<\/a>. The company is indirectly acquiring the entity through the acquisition of the entirety of G42\u2019s shares in P Ventures. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER-<\/strong> Presight <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/4791a495-5208-4f04-98d3-9af270ad9fa7\/%253cmark%253epresight%253c%2Fmark%253e-gets-aiq-majority-stake\" style=\"\" rel=\"noopener\">revealed its plans<\/a> to acquire a majority stake in AIQ, saying it would be acquiring the entirety of G42\u2019s 40% stake in AIQ, in addition to 11% of Adnoc\u2019s 60% stake in the JV. The acquisition aims to help advance Adnocs\u2019 plans to become the \u201cenergy industry\u2019s leading AI company,\u201d Industry Minister and Adnoc CEO Sultan Ahmed Al Jaber, who will assume the role of chairman at AIQ, said.<\/p>\n<p class=\"tag-border-left\">IN OTHER M&amp;A NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ras Al Khaimah White Cement backs Ultratech\u2019s offer:<\/strong> Ras Al Khaimah Co for White Cement\u2019s board of directors is recommending Ultratech\u2019s bid to acquire a 31.6% stake in the company to the company\u2019s shareholders, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/866.pdf\" style=\"\" rel=\"noopener\">ADX filing (pdf)<\/a>. The Indian cement manufacturer offered to purchase around 158 mn shares at AED 1.15 per share through its UAE-based subsidiary, UltraTech Cement Middle East Investments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Refresher:<\/strong> UltraTech <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/7e9d9846-528e-4311-ae82-20a717df9153\/rak-white-cement-gives-nod-to-ultratech%25e2%2580%2599s-stake-acquisition-bid\" style=\"\" rel=\"noopener\">intends to expand the cement<\/a> manufacturer\u2019s operations locally and globally, and to introduce new products to Rak Cement\u2019s production portfolio, such as wall care putty. UltraTech acquired a 29.39% stake in Rak Cement for USD 101 mn in 2022.<\/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>Adnoc has fully redeemed its USD-denominated senior unsecured bonds in <\/strong><strong>Adnoc Distribution<\/strong>, paying bondholders USD 1.2 bn on 4 June, a <a target=\"_blank\" href=\"https:\/\/www.adnoc.ae\/en\/news-and-media\/press-releases\/2023\/adnoc-fully-redeems-exchangeable-bonds-in-adnoc-distribution\" style=\"\" rel=\"noopener\">press release<\/a> reads. The payment means that Adnoc now retains around 77% of Adnoc Distribution's shares.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> Adnoc had said it plans to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/986ec0c0-08f8-4c74-85c7-b3d71d1e623c\/netflix-reports-solid-1q-2024-earnings,-but-sees-shares-fall\" style=\"\" rel=\"noopener\">settle<\/a> its May 2021 exchangeable bonds with a USD 1.19 bn principal and USD 4.18 mn in coupons in April, ahead of their expiry in May. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adnoc\/\">Adnoc<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adnoc-distribution\/\">Adnoc Distribution<\/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\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/presight\/\">Presight<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92922\" 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=\"92922\">\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\">TELECOMS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/11\/airbus-to-build-two-aed-3-9-bn-satellites-for-yahsat\/\">\r\n                            Yahsat taps Airbus for the construction of AED 3.9 bn satellites                        <\/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\/11\/airbus-to-build-two-aed-3-9-bn-satellites-for-yahsat\/\" 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\/11\/airbus-to-build-two-aed-3-9-bn-satellites-for-yahsat\/')\">\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\/11\/airbus-to-build-two-aed-3-9-bn-satellites-for-yahsat\/\">\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=Airbus to build two AED 3.9 bn satellites for Yahsat&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/11\/airbus-to-build-two-aed-3-9-bn-satellites-for-yahsat\/\">\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\/11\/airbus-to-build-two-aed-3-9-bn-satellites-for-yahsat\/&title=Airbus to build two AED 3.9 bn satellites for Yahsat\">\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=Airbus+to+build+two+AED+3.9+bn+satellites+for+Yahsat+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F11%2Fairbus-to-build-two-aed-3-9-bn-satellites-for-yahsat%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\/11\/airbus-to-build-two-aed-3-9-bn-satellites-for-yahsat\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/960.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92923\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/11\/airbus-to-build-two-aed-3-9-bn-satellites-for-yahsat\/960-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/960.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"960.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/960.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/960.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92922\" class=\"content-area-description single-story post-92922 post type-post status-publish format-standard has-post-thumbnail hentry category-telecoms tag-airbus tag-enterpriseam-uae tag-telecoms tag-yahsat 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\/.26cedcf2-a345-4fdd-aa75-ccbf524c4ed9.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Yahsat taps Airbus for AED 3.9 b<\/strong><strong>n<\/strong><strong> satellites:<\/strong> Abu Dhabi-based satellite comms firm <a target=\"_blank\" href=\"https:\/\/www.yahsat.com\/\" style=\"\" rel=\"noopener\">Yahsat<\/a> awarded Airbus Defence &amp; Space a contract to build two new satellites \u2014 Al Yah 4 and Al Yah 5 \u2014 in a transaction valued at almost AED 3.9 bn, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/893.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The satellites\u2019 cost covers the development of the spacecraft, ground segment infrastructure, launch and ins., the statement said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>Airbus will develop and construct the Al Yah 4 and Al Yah 5 satellites using Airbus\u2019 Eurostar Neo satellite model, each designed with a 15-year operational lifespan. The satellites will feature flexible payloads, and will allow governmental communications across the Middle East, Africa, Europe, and Asia. The satellites will replace the currently operational Al Yah 1, which was launched in 2011, and Al Yah 2, launched in 2021. The Al Yah 4 satellite will launch in 2027, while Al Yah 5 will launch in 2028. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Yahsat will initially fund the project using its own capital,<\/strong> followed by a government advance payment of AED 3.7 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>Yahsat contracted Airbus under its 17-year government-awarded service mandate, valued at <a target=\"_blank\" href=\"https:\/\/www.yahsat.com\/en\/news-and-media\/news\/2023\/yahsat-awarded-satellite-capacity-and-managed-services-mandate-by-the-uae-government\" style=\"\" rel=\"noopener\">AED 18.7 bn<\/a>, to operate, manage and maintain the UAE\u2019s current and upcoming telecoms satellites. Airbus is also currently developing Yahsat\u2019s mobile satellite, Thuraya 4, for its government solutions arm and commercial satellite subsidiary Thuraya. The satellite is slated to launch in the coming months, with operations set to commence in 2H 2025. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/airbus\/\">Airbus<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/telecoms\/\">telecoms<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/yahsat\/\">Yahsat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92924\" 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=\"92924\">\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\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/11\/abu-dhabis-annual-1q-inflation-hit-0-8\/\">\r\n                            Abu Dhabi\u2019s annual 1Q inflation hit 0.8%                        <\/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\/11\/abu-dhabis-annual-1q-inflation-hit-0-8\/\" 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\/11\/abu-dhabis-annual-1q-inflation-hit-0-8\/')\">\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\/11\/abu-dhabis-annual-1q-inflation-hit-0-8\/\">\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=Abu Dhabi\u2019s annual 1Q inflation hit 0.8%&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/11\/abu-dhabis-annual-1q-inflation-hit-0-8\/\">\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\/11\/abu-dhabis-annual-1q-inflation-hit-0-8\/&title=Abu Dhabi\u2019s annual 1Q inflation hit 0.8%\">\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=Abu+Dhabi%E2%80%99s+annual+1Q+inflation+hit+0.8%25+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F11%2Fabu-dhabis-annual-1q-inflation-hit-0-8%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\/11\/abu-dhabis-annual-1q-inflation-hit-0-8\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/964.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92925\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/11\/abu-dhabis-annual-1q-inflation-hit-0-8\/964-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/964.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"964.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/964.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/964.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92924\" class=\"content-area-description single-story post-92924 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-abu-dhabi tag-economy tag-enterpriseam-uae tag-inflation 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\/.c14a84b2-221e-4305-8d9d-26edbe0a8ee6.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Annual 1Q inflation in Abu Dhabi inched up slightly to 0.8%<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/890.pdf\" style=\"\" rel=\"noopener\">figures<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/890.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a> from the Abu Dhabi Statistics Center. This is a slight increase compared to the 0.7% recorded in 4Q 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The culprits:<\/strong> Health costs rose by 5.9%, alongside increases in clothing (4.7%) and household equipment and furnishing (3.2%). Meanwhile, decreases in prices of recreation (-7.8%), communications (-0.9%), and tobacco (-0.9%) helped offset inflationary pressures.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a q-o-q basis<\/strong>, Abu Dhabi\u2019s inflation slowed to -0.6% in 1Q 2024, down from 0.1% in 4Q 2023, according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/891.pdf\" style=\"\" rel=\"noopener\">statistics center\u2019s figures (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Month-on-month<\/strong>, inflation was at its lowest in January, falling to -0.1%, before rising to a flat 0% in February and 0.2% in March, according to the statistics center\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/892.pdf\" style=\"\" rel=\"noopener\">monthly inflation report (pdf)<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi\/\">Abu Dhabi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/economy\/\">Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/inflation\/\">inflation<\/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=\"92926\" 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=\"92926\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/11\/alpha-dhabi-bags-shareholder-approval-to-shed-assets\/\">\r\n                            Alpha Dhabi bags shareholder approval to shed assets                        <\/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\/11\/alpha-dhabi-bags-shareholder-approval-to-shed-assets\/\" 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\/11\/alpha-dhabi-bags-shareholder-approval-to-shed-assets\/')\">\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\/11\/alpha-dhabi-bags-shareholder-approval-to-shed-assets\/\">\n                    Facebook                    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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=Alpha+Dhabi+bags+shareholder+approval+to+shed+assets+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F11%2Falpha-dhabi-bags-shareholder-approval-to-shed-assets%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\/11\/alpha-dhabi-bags-shareholder-approval-to-shed-assets\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1689.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92927\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/11\/alpha-dhabi-bags-shareholder-approval-to-shed-assets\/1689-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1689.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1689.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1689.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1689.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92926\" class=\"content-area-description single-story post-92926 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-adq tag-alpha-dhabi tag-enterpriseam-uae tag-hospitality tag-ma tag-ma-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.6c6c95ed-eb66-4d07-99a0-77f0c29b5514.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Alpha Dhabi is all set to shed assets: <\/strong>Alpha Dhabi will move forward with its plan to to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/4824b656-c9e1-4d9e-8b0b-60ec651c6828\/adq-to-acquire-49%2525-stake-in%253cmark%253e-alpha-dhabi-construction%253c%2Fmark%253e-holding\" style=\"\" rel=\"noopener\">sell a 49% stake<\/a> in its subsidiary, Alpha Dhabi Construction Holding, to Abu Dhabi state investor ADQ, after receiving shareholder approval at a general assembly meeting yesterday, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/937.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shareholders also greenlit the company\u2019s plans to <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/fa7faa39-cc5a-43f8-ab24-7aea18e4060c\/national-corporation-for-tourism-and-hotels-acquires%253cmark%253e-alpha-dhabi%253c%2Fmark%253e-subsidiaries\" style=\"\" rel=\"noopener\">sell three Alpha Dhabi-owned hotel businesses<\/a><\/strong> to the National Corporation for Tourism &amp; Hotels (NCTH) in exchange for newly issued shares in NCTH. The targeted businesses for sale include ADH Hospitality, Murban (BVI) Holding, and Hill View Resorts in the Seychelles.<\/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 transaction: <\/strong>Alpha Dhabi will get 1.25 bn new shares in NCTH, raising its stake in the company, after the company completes a capital increase to AED 2.15 bn, according to previous disclosures from the entities published in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/fa7faa39-cc5a-43f8-ab24-7aea18e4060c\/\" style=\"\" rel=\"noopener\">March<\/a>. Alpha Dhabi remains the company\u2019s largest single shareholder.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adq\/\">ADQ<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/alpha-dhabi\/\">Alpha Dhabi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/hospitality\/\">hospitality<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92928\" 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=\"92928\">\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\">INVESTMENT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/11\/dp-world-invests-over-usd-500-mn-to-expand-operations-in-latin-america\/\">\r\n                            DP World to expand Ecuador dock for USD 140 mn, launch expanded Peru port                        <\/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\/11\/dp-world-invests-over-usd-500-mn-to-expand-operations-in-latin-america\/\" 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\/11\/dp-world-invests-over-usd-500-mn-to-expand-operations-in-latin-america\/')\">\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\/11\/dp-world-invests-over-usd-500-mn-to-expand-operations-in-latin-america\/\">\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=DP World invests over USD 500 mn to expand operations in Latin America&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/11\/dp-world-invests-over-usd-500-mn-to-expand-operations-in-latin-america\/\">\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\/11\/dp-world-invests-over-usd-500-mn-to-expand-operations-in-latin-america\/&title=DP World invests over USD 500 mn to expand operations in Latin America\">\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=DP+World+invests+over+USD+500+mn+to+expand+operations+in+Latin+America+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F11%2Fdp-world-invests-over-usd-500-mn-to-expand-operations-in-latin-america%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\/11\/dp-world-invests-over-usd-500-mn-to-expand-operations-in-latin-america\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/966.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92929\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/11\/dp-world-invests-over-usd-500-mn-to-expand-operations-in-latin-america\/966-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/966.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"966.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/966.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/966.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92928\" class=\"content-area-description single-story post-92928 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-dp-world tag-enterpriseam-uae tag-investment tag-investment-watch tag-logistics 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\/.7c33dec0-0bf2-4e66-a553-2e93d8f0499a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>DP World is investing some USD 540 mn to expand its operations in <\/strong><strong>Ecuador and Peru<\/strong>, the port operator said in a <a target=\"_blank\" href=\"https:\/\/www.dpworld.com\/news\/releases\/dp-world-announces-major-investments-in-latin-american-ports-to-boost-capacity-and-efficiency\/\" style=\"\" rel=\"noopener\">statement<\/a> yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><font face=\"Arial\">#1- The logi<\/font>stics giant <\/strong><strong>earmarked USD 140 mn to expand its dock at the Port of Posorja in Ecuador<\/strong>, with construction scheduled to kick off in the upcoming months to \u201cenhance capacity and operational efficiency.\u201d The expansion will extend DP World\u2019s termina<strong>l <\/strong>in the deepwater port by an additional 232 meters, bringing its total allocated berth space to 700 meters. The firm has not disclosed the expected timeline of the project.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>In <a target=\"_blank\" href=\"https:\/\/www.bnamericas.com\/en\/news\/mtop-and-dp-world-sign-mou-to-advance-works-on-phase-ii-of-the-posorja-port\" style=\"\" rel=\"noopener\">April<\/a>, DP World inked an MoU with Ecuador\u2019s Transportation and Public Works Ministry to carry out the expansion. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- DP World is also set to inaugurate its USD 400 mn Bicentennial Pier expansion project at the DP World Callao port in Peru<\/strong>, the company said. The expansion extended the pier to over 1k meters, enabling it to accommodate three vessels at once and increasing annual throughput by 80% to 2.7 mn twenty-foot equivalent units. The project saw the port operator install the first electric truck charging station in Latin America in a bid to promote decarbonization and sustainability efforts. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>DP World commenced the expansion project in <a target=\"_blank\" href=\"https:\/\/www.dpworld.com\/en\/peru\/ports-and-terminals\/callao#:~:text=In%202021%2C%20we%20started%20the%20Muelle%20Bicentenario%20Project%2C%20the%20expansion%20of%20the%20terminal%20with%20an%20estimated%20investment%20of%20an%20additional%20350%20million%20dollars.%20With%20this%20mega%20Project%2C%20we%20will%20increase%20the%20Port%27s%20capacity%20by%2080%25%2C%20reaching%202.7%20million%20TEUs%20in%202024.\" style=\"\" rel=\"noopener\">September 2021<\/a> with an initial investment of USD 350 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the port:<\/strong> The Port of Callao handles almost 90% of Peru\u2019s container traffic, with DP World managing around 60% of the port\u2019s containerized cargo.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dp-world\/\">DP World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment\/\">investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92930\" 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=\"92930\">\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\">STARTUP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/11\/stake-raises-usd-14-mn-to-expand-to-ksa-elevate-raises-usd-5-mn\/\">\r\n                            UAE proptech Stake raises USD 14 mn in series A funding round + Elevate raises USD 5 mn                        <\/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\/11\/stake-raises-usd-14-mn-to-expand-to-ksa-elevate-raises-usd-5-mn\/\" 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\/11\/stake-raises-usd-14-mn-to-expand-to-ksa-elevate-raises-usd-5-mn\/')\">\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\/11\/stake-raises-usd-14-mn-to-expand-to-ksa-elevate-raises-usd-5-mn\/\">\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=Stake raises USD 14 mn to expand to KSA + Elevate raises USD 5 mn&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/11\/stake-raises-usd-14-mn-to-expand-to-ksa-elevate-raises-usd-5-mn\/\">\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\/11\/stake-raises-usd-14-mn-to-expand-to-ksa-elevate-raises-usd-5-mn\/&title=Stake raises USD 14 mn to expand to KSA + Elevate raises USD 5 mn\">\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=Stake+raises+USD+14+mn+to+expand+to+KSA+%2B+Elevate+raises+USD+5+mn+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F11%2Fstake-raises-usd-14-mn-to-expand-to-ksa-elevate-raises-usd-5-mn%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\/11\/stake-raises-usd-14-mn-to-expand-to-ksa-elevate-raises-usd-5-mn\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/956.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92931\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/11\/stake-raises-usd-14-mn-to-expand-to-ksa-elevate-raises-usd-5-mn\/956-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/956.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"956.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/956.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/956.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92930\" class=\"content-area-description single-story post-92930 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-investment tag-mubadala tag-startup-watch tag-startups 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\/.adfa1cb5-2d46-4f31-be96-ff77c30d8c42.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>UAE\u2019s proptech Stake secures USD 14 mn in funding round: <\/strong>Dubai-based proptech startup <a target=\"_blank\" href=\"https:\/\/getstake.com\/\" style=\"\" rel=\"noopener\">Stake<\/a> raised USD 14 mn in series A funding from both regional and international investors to expand its pool of investors and enter Saudi Arabia this year, according to a <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2024\/06\/uae-proptech-stake-closes-14-million-series\" style=\"\" rel=\"noopener\">press release<\/a>. The funding round was led by <a target=\"_blank\" href=\"https:\/\/www.mevp.com\/\" style=\"\" rel=\"noopener\">Middle East Venture Partners<\/a> and saw participation from <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\/what-we-do\/commercial-ecosystems\/waed-ventures\" style=\"\" rel=\"noopener\">Aramco's Wa'ed Ventures<\/a>, <a target=\"_blank\" href=\"https:\/\/www.mubadala.com\/\" style=\"\" rel=\"noopener\">Mubadala<\/a> and <a target=\"_blank\" href=\"https:\/\/republic.com\/\" style=\"\" rel=\"noopener\">Republic<\/a>. It <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2022\/08\/stake-raises-8-million-pre-series-round\" style=\"\" rel=\"noopener\">raised<\/a> USD 8 mn in 2022.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><font face=\"Arial\">Wher<\/font>e are the funds going? <\/strong>Stake will use the funds to expand into the Saudi market, and become the first platform to allow individuals outside of the kingdom to invest in Saudi real estate. The company also plans to use the funding to grow their pool of investors, introduce new investment opportunities to its users, and scale its team.<strong style=\"background-color: transparent;\"><br \/>About Stake:<\/strong><span style=\"background-color: transparent;\"> Founded in 2020 in the UAE by Rami Tabbara (<\/span><a target=\"_blank\" href=\"https:\/\/ae.linkedin.com\/in\/rami-tabbara\" rel=\"noopener\">Linkedin<\/a><span style=\"background-color: transparent;\">), Manar Mahmassani (<\/span><a target=\"_blank\" href=\"https:\/\/ae.linkedin.com\/in\/manarm\" rel=\"noopener\">Linkedin<\/a><span style=\"background-color: transparent;\">), and Ricardo Brizido (<\/span><a target=\"_blank\" href=\"https:\/\/uk.linkedin.com\/in\/ricardobrizido\" rel=\"noopener\">Linkedin<\/a><span style=\"background-color: transparent;\">), the digital real estate investment platform is designed to facilitate investments from overseas investors into local real estate. It saw over 200 properties worth AED 355 mn sold through its app, and has amassed over 500k users, the startup said.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How does it work? <\/strong>The proptech company allows investors to purchase fractions of property in the Emirates, and earn income on a monthly basis, according to <a target=\"_blank\" href=\"https:\/\/techcrunch.com\/2022\/08\/29\/dubai-based-stake-raises-8-million-to-let-people-across-the-globe-invest-in-local-properties\/\" style=\"\" rel=\"noopener\">Techcrunch<\/a>. The digital platform caps investments at 33% ownership in each property to spread out rental income across users. Due to Dubai\u2019s investment rules, the startup limits individual investors to a maximum of AED 50k investments per year, and a minimum of AED 500. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not the only proptech eyeing KSA: <\/strong>Digital mortgage platform Holo <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/934a3c26-6791-433b-984a-39f81f646f4b\/%253cmark%253eholo%253c%2Fmark%253e-closes-pre-series-a-funding-round-to-boost-expansion-plans\" style=\"\" rel=\"noopener\">recently<\/a> closed a pre-series A round that will help it expand into the Kingdom and grow its presence across the GCC. <\/p>\n<p class=\"tag-border-left\">OTHER STARTUP NEWS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai-based fintech<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.elevatepay.co\/\" style=\"\" rel=\"noopener\"><\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.elevatepay.co\/\" style=\"\" rel=\"noopener\">Elevate<\/a><\/strong><strong> raised USD 5 mn in a pre-series A funding <\/strong><strong>round,<\/strong> according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/237.pdf\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/237.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The funds will go towards supporting Elevate\u2019s expansion into the Middle East and Africa. Elevate will also use the fresh funding to introduce new financial services to its offerings, such as savings and investment accounts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><about elevate:=\"\" <=\"\" strong=\"\">Co-founded in 2021<\/strong> by Youcef Oudjidane (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/youcef-oudjidane-78886345\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), Khalid Keenan (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/khalid-keenan-a381578a\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), Faris Keenan (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/faris-keenan-997337a0\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), Abdigani Diriye (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/abdigani-diriye\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), and Ahmed Almutafi (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/ahmedaima\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), Elevate provides US-based USD deposit accounts insured by the US Federal Deposit Ins. Corporation (FDIC), tailored for non-US resident freelancers in emerging markets. These accounts include wire inbound and outbound payments as well as Mastercard debit card for each account, with an eye to enhancing and facilitating the process of receiving and sending USD payments. <\/about><\/strong><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment\/\">investment<\/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\/startup-watch\/\">STARTUP WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92932\" 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=\"92932\">\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\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/11\/julius-baer-appoints-new-senior-banker-for-non-resident-indian-businesses-in-dubai\/\">\r\n                            Julius Baer appoints new senior banker for non-resident Indian businesses in Dubai                        <\/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\/11\/julius-baer-appoints-new-senior-banker-for-non-resident-indian-businesses-in-dubai\/\" 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\/11\/julius-baer-appoints-new-senior-banker-for-non-resident-indian-businesses-in-dubai\/')\">\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\/11\/julius-baer-appoints-new-senior-banker-for-non-resident-indian-businesses-in-dubai\/\">\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=Julius Baer appoints new senior banker for non-resident Indian businesses in Dubai&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/11\/julius-baer-appoints-new-senior-banker-for-non-resident-indian-businesses-in-dubai\/\">\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\/11\/julius-baer-appoints-new-senior-banker-for-non-resident-indian-businesses-in-dubai\/&title=Julius Baer appoints new senior banker for non-resident Indian businesses in Dubai\">\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=Julius+Baer+appoints+new+senior+banker+for+non-resident+Indian+businesses+in+Dubai+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F11%2Fjulius-baer-appoints-new-senior-banker-for-non-resident-indian-businesses-in-dubai%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\/11\/julius-baer-appoints-new-senior-banker-for-non-resident-indian-businesses-in-dubai\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/962.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92933\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/11\/julius-baer-appoints-new-senior-banker-for-non-resident-indian-businesses-in-dubai\/962-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/962.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"962.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/962.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/962.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92932\" class=\"content-area-description single-story post-92932 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-blackrock tag-dubai tag-enterpriseam-uae tag-moves wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.0e727724-1c5f-4269-880b-e25753cd28fe.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Swiss wealth manager <strong>Julius Baer<\/strong> has appointed <strong>Sanjay Advani<\/strong> (<a target=\"_blank\" href=\"https:\/\/ae.linkedin.com\/in\/sanjay-advani-83173116?original_referer=https%3A%2F%2Fwww.google.com%2F\" style=\"\" rel=\"noopener\">Linkedin<\/a>) from UBS as a <strong>managing director<\/strong> and team head of the firm\u2019s global non-resident Indians business in Dubai, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-10\/julius-baer-targets-rich-indians-in-dubai-with-ubs-jpm-hires\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. The position is focused on wealthy Indians in the emirate<strong>, <\/strong>a profitable branch of the bank\u2019s wealth management services.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">The firm also tapped <strong>Nisar Sindhi<\/strong> (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/nisar-sindhi-0608a39\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as <strong>managing director and senior advisor<\/strong>. Sindhi was previously managing director at JP Morgan\u2019s Dubai branch. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Blackrock <\/strong>tapped <strong>Mohammad Alfahim<\/strong> (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/mohammad-alfahim-4637742b\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">Linkedin<\/a>) as its <strong>new managing director, <\/strong>to lead client business in the UAE, Oman and Bahrain, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/people-in-the-news\/blackrock-appoints-head-of-uae-jrvyj1tq\" style=\"\" rel=\"noopener\">press release<\/a> picked up by Zawya. Alfahim was previously the CEO of Goldman Sachs Abu Dhabi\u2019s ADGM branch and the executive director of its Dubai branch. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/blackrock\/\">BlackRock<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai\/\">Dubai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92934\" 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=\"92934\">\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\">UAE IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/11\/dubai-vs-abu-dhabi-in-the-race-for-private-capital-supremacy\/\">\r\n                            Dubai vs. Abu Dhabi in the race for private capital supremacy                        <\/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 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              <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/11\/dubai-vs-abu-dhabi-in-the-race-for-private-capital-supremacy\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/271.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92935\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/11\/dubai-vs-abu-dhabi-in-the-race-for-private-capital-supremacy\/271-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/271.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"271.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/271.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/271.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92934\" class=\"content-area-description single-story post-92934 post type-post status-publish format-standard has-post-thumbnail hentry category-uae-in-the-news tag-abu-dhabi tag-dubai 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\/.a6dc759a-5ee2-4b0f-95ef-53a8be9dc19c.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai or Abu Dhabi for private capital?<\/strong> <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-10\/it-s-dubai-versus-abu-dhabi-in-fight-for-family-office-riches\" style=\"\" rel=\"noopener\">Bloomberg<\/a> is looking at the \u201crace for supremacy\u201d in the private capital space between Dubai and Abu Dhabi, with one Abu Dhabi-based fund manager describing Dubai as the \u201cgold rush,\u201d with a lot of newcomers looking to cash in on the hype. \u201cAbu Dhabi has the real somebodies,\u201d others say, driven by its significant wealth and discreet financial structures against neighboring Dubai, where \u201cthe lure is less about heavyweight wealth and more about lifestyle.\u201d<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi\/\">Abu Dhabi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai\/\">Dubai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/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=\"92936\" 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=\"92936\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/11\/arabian-hills-inaugurates-aed-22-bn-residential-project\/\">\r\n                            Arabian Hills inaugurates AED 22 bn residential project on Dubai-Al Ain Road                        <\/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\/11\/arabian-hills-inaugurates-aed-22-bn-residential-project\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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data-attachment-id=\"92937\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/11\/arabian-hills-inaugurates-aed-22-bn-residential-project\/973-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/973.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"973.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/973.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/973.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92936\" class=\"content-area-description single-story post-92936 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-climate tag-enterpriseam-uae tag-finance tag-investment tag-real-estate tag-regulation 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\/.ce9279a3-048a-4057-b3fe-38fb2514840e.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> REAL ESTATE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai-based real estate developer <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.google.com\/aclk?sa=l&ai=DChcSEwieovvBtNKGAxU7mIMHHfUfPQkYABABGgJlZg&ase=2&gclid=CjwKCAjwyJqzBhBaEiwAWDRJVLJ_PTAyWqSts8LHTygMixnQOzCmfc5q7OpsFSsBid7AChDOqla-vxoCIbMQAvD_BwE&sig=AOD64_3Q1Y6_mmjK9N4yNPCLVmzpGcAtaw&q&nis=4&adurl&ved=2ahUKEwj5wfbBtNKGAxX-BdsEHQvHC1MQ0Qx6BAgDEAE\" style=\"\" rel=\"noopener\">Arabian Hills<\/a><\/strong><strong> inaugurated an AED 22 bn residential <\/strong><strong>project <\/strong>in collaboration with Core International Holdings Group's real estate division Ara Real Estate Development, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b3lfzg2-arabian-hills-real-estate-debuts-aed22-billion\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The project, dubbed Arabian Hills Estate, spans 244 mn sqft along Dubai-Al Ain Road, and comprises 14 phases. It will offer residential plots ranging between 12-132k sqft and schools, medical services, and entertainment facilities, with Ara tasked with managing and supervising all development activities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> MANUFACTURING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sobha Group\u2019s aluminum facade subsidiary <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.sobhafacades.com\/\" style=\"\" rel=\"noopener\">Sobha Modular Industries<\/a><\/strong><strong> inaugurated its <\/strong><strong>new manufacturing facility<\/strong><strong> in Ras Al Khaimah\u2019s Al Hamra<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/rakez.com\/en\/media-centre\/news-detail\/articleid\/498\/ras-al-khaimah-ruler-inaugurates-sobha-modular-industries-new-manufacturing-facility-in-the-emirate\" style=\"\" rel=\"noopener\">press release<\/a>. The new facility aims to double the company\u2019s production capacity and is set to create 3k jobs in the region. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> INVESTMENT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E7 will shell out AED 182 bn to boost security solutions: <\/strong>Commercial printing and security solutions provider E7 Group plans to invest AED 182 mn in its security solutions business segment E7 Security, it said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/909.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>. The investment will be geared toward increasing the segment\u2019s passport manufacturing capacity fivefold and establishing its presence in the digital tax stamps segment by 2026, in a bid to ramp up revenue generation and support governments worldwide in curbing illicit trade of excisable goods.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> EVs- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Futtaim Electric Transport signs MoU with Uber for battery charging infrastructure: <\/strong>Al Futtaim Electric Transport partnered with Uber to provide drivers with a wide range of electric and hybrid vehicles, <a target=\"_blank\" href=\"https:\/\/www.google.com\/url?q=https:\/\/www.alkhaleej.ae\/2024-06-10\/%25D8%25A7%25D9%2584%25D9%2581%25D8%25B7%25D9%258A%25D9%2585-%25D9%2584%25D9%2584%25D9%2586%25D9%2582%25D9%2584-%25D8%25A7%25D9%2584%25D9%2583%25D9%2587%25D8%25B1%25D8%25A8%25D8%25A7%25D8%25A6%25D9%258A-%25D9%2588%25D8%25A3%25D9%2588%25D8%25A8%25D8%25B1-%25D9%258A%25D8%25B9%25D8%25B2%25D8%25B2%25D8%25A7%25D9%2586-%25D8%25A7%25D9%2584%25D8%25A8%25D9%2586%25D9%258A%25D8%25A9-%25D8%25A7%25D9%2584%25D8%25AA%25D8%25AD%25D8%25AA%25D9%258A%25D8%25A9-%25D9%2584%25D8%25B4%25D8%25AD%25D9%2586-%25D8%25A7%25D9%2584%25D8%25A8%25D8%25B7%25D8%25A7%25D8%25B1%25D9%258A%25D8%25A7%25D8%25AA\/%25D8%25A3%25D8%25B3%25D9%2588%25D8%25A7%25D9%2582-%25D8%25A7%25D9%2584%25D8%25A5%25D9%2585%25D8%25A7%25D8%25B1%25D8%25A7%25D8%25AA\/%25D8%25A7%25D9%2582%25D8%25AA%25D8%25B5%25D8%25A7%25D8%25AF&sa=D&source=docs&ust=1718033253252936&usg=AOvVaw2EGVIb1d7guNH2ckW9C0u4\" style=\"\" rel=\"noopener\">Al Khaleej<\/a> reports. Under the agreement, Al Futtaim Electric Transport company will also provide support to develop the infrastructure for EV battery charging. It will also offer Uber access to its <a target=\"_blank\" href=\"https:\/\/www.alfuttaim.com\/automotive\/charge2moov\/\" style=\"\" rel=\"noopener\">Charge2Moov<\/a> platform for car charging stations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> LOGISTICS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- AAC kicks off construction on a new distribution center at Dubai Industrial City: <\/strong><a target=\"_blank\" href=\"https:\/\/www.awrostamani.com\/companies\/en\" style=\"\" rel=\"noopener\">AW<\/a><a target=\"_blank\" href=\"https:\/\/www.awrostamani.com\/companies\/en\" style=\"\" rel=\"noopener\">Rostamani Group<\/a> subsidiary Arabian Automobiles Company has broken ground on a 350k sqft parts storage and distribution center at Dubai Industrial City, with the facility slated for completion in 2025, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/arabian-automobiles-company-expands-presence-at-dubai-industrial-city-with-state-of-the-art-distribution-centre-sqhxpzec\" style=\"\" rel=\"noopener\">press release<\/a>. The smart warehouse facility is set to serve as a regional hub.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2-<\/strong> <strong>Swiss transport and logistics firm Kuehne + Nagel broke ground at its new e-commerce <\/strong><strong>fulfillment and distribution center in Dubai South\u2019s e-commerce zone EZDubai,<\/strong> according to a <a target=\"_blank\" href=\"https:\/\/newsroom.kuehne-nagel.com\/kuehnenagel-breaks-ground-for-a-new-e-commerce-fulfilment-centre-in-dubai\/\" style=\"\" rel=\"noopener\">press release<\/a>. The project looks to function as a regional hub for e-commerce trade and is slated to be fully operational by 2Q 2025. An investment ticket for the initiative was not disclosed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> FINANCE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi, Bermuda to boost digital asset support: <\/strong>Abu Dhabi Global Market\u2019s Financial Services Regulatory Authority and the Bermuda Monetary Authority inked an MoU to support and supervise digital assets entities across both jurisdictions, focusing on regulatory and supervisory cooperation, investigative assistance, and capacity enhancement initiatives, it said in a <a target=\"_blank\" href=\"https:\/\/www.adgm.com\/media\/announcements\/adgm-and-the-bermuda-monetary-authority-sign-a-digital-assets-mou\" style=\"\" rel=\"noopener\">statement<\/a>. The agreement will also see the jurisdictions cooperate in publications and media content, supervisory colleges, working groups, and training.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> CLIMATE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Abu Dhabi-based Anwar Gargash Diplomatic Academy launched an initiative to <\/strong><strong>facilitate climate financing for fragile and conflict-affected countries, <\/strong>in partnership with the international governmental organization G7+ group and the UK Foreign Office's Development Institute, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b3lfzd3-anwar-gargash-diplomatic-academy-g7%2B-and-odi\" style=\"\" rel=\"noopener\">Wam<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> REGULATION- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sharjah Ruler Sheikh Sultan bin Muhammad Al Qasimi issued a decree approving the <\/strong><strong>organizational structure of the Sharjah Finance Department (SFD), <\/strong><a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b3lfz1l-sharjah-ruler-issues-emiri-decree-approving-sfd\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The Executive Council will be tasked with implementing the decree, including issuing decisions approving job descriptions of SFD organizational units, and creating, merging, or canceling organizational units within the SFD\u2019s general structure.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/climate\/\">climate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/finance\/\">Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment\/\">investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/real-estate\/\">Real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/regulation\/\">regulation<\/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=\"92938\" 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=\"92938\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/11\/amid-election-surprises-em-investors-are-bullish-on-local-debt\/\">\r\n                            Amid election surprises, EM investors are bullish on local debt                        <\/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\/11\/amid-election-surprises-em-investors-are-bullish-on-local-debt\/\" 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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France\u2019s decision to hold snap elections, for example, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-09\/european-elections-2024-macron-calls-vote-in-effort-to-halt-advance-of-le-pen\" style=\"\" rel=\"noopener\">sent the EUR to its weakest<\/a> in a month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investors are liking the risk:<\/strong> \u201cWe\u2019ve been increasing the frontier risk, through both local bonds and FX derivatives. We like the story in Egypt, we like some of the stories in smaller Latin American names. We\u2019re trying to diversify and not load up,\u201d Christine Reed, a portfolio manager at Ninety One told Bloomberg. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Election \u201csurprises\u201d have triggered the search for alternative return avenues,<\/strong> with the MXN \u2014 once favored for carry trades \u2014 currently losing investor favor after a bout of volatility following the elections, with concerns that potential economic reforms will increase the government\u2019s influence in the economy. Meanwhile, the Polish PLN is gaining traction for its perceived insulation from political volatility. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Appetite for Turkey\u2019s debt is also on the rise<\/strong>: In Turkey, the post-election economic overhaul, including the central bank\u2019s aggressive rate hikes and investor-friendly policies, have sparked a surge in demand for local-currency assets, with foreign holdings of TRY-denominated bonds jumping tenfold in a year, reflecting investors\u2019 confidence. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What are EMs\u2019 selling points?<\/strong> \u201cWe see cleaner positioning as a positive technical factor, but more importantly for us is a country\u2019s monetary and fiscal policy stance, and inflation and growth profiles. Otherwise, we are running the risk of picking up pennies in front of a steamroller,\u201d says Valentina Chen, co-head of emerging-market debt at Mackay Shields.<\/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>Asia-Pacific markets are mixed on their return from a public holiday<\/strong>, with Japan\u2019s Nikkei up 0.49%, while the Hang Seng is down 1.4% \u2014 seemingly unaffected by the rally over on Wall Street, which saw the Nasdaq and S&amp;P 500 hit fresh highs yesterday. <\/p>\n<p><a target=\"_blank\" id=\"t.18a7d289680e1d3429d009b1b77729a0a4034174\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p>\n<div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,990<\/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: -4.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">3,974<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: -2.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Nasdaq Dubai UAE20<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3,373<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.9% (YTD: -12.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : AED<\/strong><strong> CBUAE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 3.67<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 3.67<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EIBOR<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.1% o\/n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.5% 1 yr<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">11,854<\/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: +0.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">25,897<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.9% (YTD: +4.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,361<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +12.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,228<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: +6.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,016<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7% (YTD: +11.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 81.63<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 3.00<\/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\">+3.3%<\/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:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,328.60<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 69,637.90<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +64.8%)<\/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 346.5 mn. The index is down 2.1% 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>National International Holding Company (+9.6%), Drake &amp; Scull International (+6.4%) and Dubai Islamic Ins. and Reins. (+3.3%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Commercial Bank of Dubai (-5.8%), Emirates Reem Investments Company (-2.6%) and Amanat Holdings (-1.9%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over on the ADX<\/strong>, the index rose 0.4% on turnover of AED 979.3 mn. Meanwhile Nasdaq Dubai closed up 0.9%.<\/p>\n<p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Drake &amp; Scull wraps up restructuring: <\/strong>Dubai-based contractor <a target=\"_blank\" href=\"https:\/\/www.drakescull.com\/\" style=\"\" rel=\"noopener\">Drake &amp; Scull<\/a> has completed its restructuring after <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/39a70cf5-950a-43b1-b6dc-5836b846a059\/drake-&amp;-scull-can-now-relist-on-the-dfm-after-raising-aed-450-mn-in-capital-boost\" style=\"\" rel=\"noopener\">raising AED 450 mn<\/a> in a capital increase and resuming trading on the Dubai Financial Market (DFM), it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/865.pdf\" style=\"\" rel=\"noopener\">DFM disclosure (pdf)<\/a> yesterday. With the implementation of the restructuring plan, all lawsuits filed against Drake &amp; Scull have been suspended. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The restructuring saw the contractor write off <\/strong><strong>over <\/strong><strong>AED 4.18 b<\/strong><strong>n<\/strong><strong> in accumulated debt<\/strong>,<strong> <\/strong>representing 90% of its total debt. For the remaining 10%, Drake &amp; Scull will issue mandatory convertible sukuk to the larger creditors to be converted into shares five years from the issuance date, alongside a cash settlement totaling AED 13.6 mn to be distributed to small creditors owed less than AED 1mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> Dubai\u2013based Drake &amp; Scull re-listed its shares on the DFM on <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/a6b32db8-aa7b-404f-aa69-83403a0c9051\/this-morning:-sidara-makes-final-play-for-wood-group-%2B-president-in-china#:~:text=Drake%20%26%20Scull%20is%20back%20on%20the%20DFM%3A%20Dubai%E2%80%93based%20Drake%20%26%20Scull%20re%2Dlisted%20its%20shares%20on%20the%20Dubai%20Financial%20Market%20(DGF)%20yesterday%20following%20a%20five%2Dyear%20hiatus.%20Shares%20soared%20as%20much%20as%2030%25%20in%20trading%20before%20closing%20up%2024%25%20at%20AED%200.31.\" style=\"\" rel=\"noopener\">29 May<\/a>, following a five-year hiatus. The construction firm\u2019s shares were suspended from trading on the back of excessive financial losses and reporting violations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SCA gave Drake &amp; Scull the all-clear: <\/strong>\u201cAfter obtaining approval from the Securities and Commodities Authority (SCA) the company has now reached a stage where it can resume its activities, participate in new bids, and secure new projects,\u201d the contractor said in the statement. \u201cThis is a major achievement which opens new opportunities for the company to expand its operations within and outside the country by entering new bids, thus enhancing profitability, assets, and shareholders\u2019 equity.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Spinneys has tapped BHM capital as a liquidity provider <\/strong>for its shares on the DFM for one year, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/906.pdf\" style=\"\" rel=\"noopener\">DFM disclosure (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Takaful Emarat proposed to increase its share capital by an additional AED 60 mn,<\/strong> a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/941.pdf\" style=\"\" rel=\"noopener\">DFM filing<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/941.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a> reads. The capital increase would follow an earlier AED 185 capital increase approved in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/794367e9-d827-41fd-ad72-7989318e8ef1\/no-soft-landing%3F\" style=\"\" rel=\"noopener\">February<\/a>, and would bring its total share capital to AED 210 mn. The proposal is still pending regulatory approvals and agreement from shareholders at the upcoming general assembly, set to take place on Friday, 14 June. The ins. company posted a net loss of AED 132 mn in 2023.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92940\" 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=\"92940\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/div>\r\n\r\n                    <p class=\"f-graphik\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/11\/uae-attends-its-first-brics-foreign-ministers-meeting-in-russia\/\">\r\n                            UAE attends BRICS Foreign Ministers' Meeting in Russia                        <\/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\/11\/uae-attends-its-first-brics-foreign-ministers-meeting-in-russia\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The minister also called for an immediate ceasefire in Gaza, alongside humanitarian aid delivery and the release of all hostages.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- UAE President Mohamed bin Zayed Al Nahyan received a phone call from Netherlands<\/strong> <strong>Prime Minister Mark Rutte<\/strong>, where they discussed boosting bilateral cooperation and the need for a ceasefire in Gaza, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3lfzlu-uae-president-receives-phone-call-from-prime\" style=\"\" rel=\"noopener\">Wam<\/a> reports. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/brics\/\">Brics<\/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\/foreign-affairs-ministry\/\">Foreign Affairs Ministry<\/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=\"92942\" 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\/11\/92942-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92942\" class=\"content-area-description single-story post-92942 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;\">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>11-12 June (Tuesday-Wednesday):<\/span> <span style=\"font-weight:400;\">Ministerial Experience Exchange Forum, Baku, Azerbaijan.<\/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;\">Signposted to happen sometime in mid-August:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">New regulations around telemarketing calls will go into effect<\/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;\">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;\">15 October (Tuesday): Deadline for the European Commission to make a decision on its probe into e&\u2019s acquisition of PPF\u2019s Eastern European assets. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">24-27 October (Thursday-Sunday): International Sports Medicine Conference, Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">30-1 November (Wednesday-Friday): World Cities Cultural Summit, Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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>23 November (Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wirelessfestival.me\/\" style=\"\">Wireless Festival Middle East<\/a><\/span><span style=\"font-weight:400;\">, Etihad Park, 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 style=\"font-weight:400;\">8-12 December (Sunday-Thursday): International Desalination and Reuse Association World Congress, 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>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<li><span style=\"font-weight:400;\">TBD: The Middle East Electric Vehicle Show, Expo Center Sharjah. <\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime in 2028:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\"> Abu Dhabi to host the 47th Chess Olympiad<\/span><\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Magellan acquires 90% of DSF | Presight wraps acquisition of AIQ | Airbus to build AED 3.9 bn Yahsat satellites<\/p>\n","protected":false},"featured_media":92911,"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-92910","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"24ca3b46-2d30-442f-964c-17bb6a53beca","teaser":"Magellan acquires 90% of DSF | Presight wraps acquisition of AIQ | Airbus to build AED 3.9 bn Yahsat satellites","photo_url":"https:\/\/ent.news\/2024\/4\/543.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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