{"id":92967,"date":"2024-06-12T00:00:00","date_gmt":"2024-06-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=92967"},"modified":"2025-12-15T00:37:08","modified_gmt":"2025-12-15T00:37:08","slug":"alef-education-debuts-on-the-adx-in-first-abu-dhabi-ipo-of-the-year","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/alef-education-debuts-on-the-adx-in-first-abu-dhabi-ipo-of-the-year\/","title":{"rendered":"Alef Education debuts on the ADX in first Abu Dhabi IPO of the year"},"content":{"rendered":"<section id=\"92969\" 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=\"92969\">\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\/12\/alef-education-debuts-on-the-adx-in-abu-dhabis-first-ipo-of-the-year\/\">\r\n                            THIS MORNING: Alef Education debuts on the ADX in Abu Dhabi\u2019s first IPO of the year                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/alef-education-debuts-on-the-adx-in-abu-dhabis-first-ipo-of-the-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/851.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92970\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/alef-education-debuts-on-the-adx-in-abu-dhabis-first-ipo-of-the-year\/851-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/851.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"851.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/851.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/851.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92969\" class=\"content-area-description single-story post-92969 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-adnoc tag-adx tag-energy tag-enterpriseam-uae tag-ipo-watch tag-ma-watch tag-oil-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\/.579815bf-e1c3-46de-a100-acfd904aae72.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, friends, and happy hump day. <\/strong><span style=\"background-color: transparent;\">The news is trudging along as we near the end of the week and the four-day Eid weekend, with a lot of activity on the M&amp;A front.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG STORY here at home<\/strong> is Adnoc Drilling and Alpha Dhabi\u2019s JV \u2014 Enersol \u2014 raising its stake in US oil engineering firm Gordon Technologies, with plans to make more acquisitions in 3Q 2024, EnterpriseAM UAE has learned. <\/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\"> <a id=\"wwtt1\"><\/a><strong> #1- Work permits and residency visas can now be processed in five days instead of 30 <\/strong><strong>days,<\/strong> after the Human Resources and Emiratisation Ministry rolled out the second phase of its <a target=\"_blank\" href=\"https:\/\/workinuae.ae\/\" style=\"\" rel=\"noopener\">Work Bundle<\/a> platform across all emirates, the authority <a target=\"_blank\" href=\"https:\/\/x.com\/MOHRE_UAE\/status\/1800421219952460109\" style=\"\" rel=\"noopener\">said on X<\/a>. The second phase of the initiative \u2014 which looks to streamline hiring processes for businesses and companies and facilitate work permit renewals by unifying essential employment and residency services onto a single platform \u2014 covers some 600k companies and over 7 mn workers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The Central Bank of the UAE is requiring banks to notify customers of their right to resort <\/strong><strong>to its dispute resolution unit, <\/strong><strong> Sanadak,<\/strong> <a target=\"_blank\" href=\"https:\/\/www.mubasher.info\/news\/4302537\/%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA%D9%8A-%D9%8A%D9%84%D8%B2%D9%85-%D8%A7%D9%84%D8%A8%D9%86%D9%88%D9%83-%D8%A8%D8%A5%D8%A8%D9%84%D8%A7%D8%BA-%D8%A7%D9%84%D9%85%D8%AA%D8%B9%D8%A7%D9%85%D9%84%D9%8A%D9%86-%D8%A8%D8%AD%D9%82-%D8%A7%D9%84%D9%84%D8%AC%D9%88%D8%A1-%D9%84%D9%88%D8%AD%D8%AF%D8%A9-%D8%AA%D8%B3%D9%88%D9%8A%D8%A9-%D8%A7%D9%84%D9%85%D9%86%D8%A7%D8%B2%D8%B9%D8%A7%D8%AA\/\" style=\"\" rel=\"noopener\">Mubasher<\/a> reports, citing a circular. The decision also requires ins. companies and any licensed financial institutions to inform customers in writing of their right to resort to the unit. Customers have three years to file a complaint without charge from the date of the incident. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI<\/strong>- The Central Bank launched Sanadak, a new ombudsman unit <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/d164fc2d-50e9-4cf5-9966-781286c73c65\/cbuae-launches-region%25e2%2580%2599s-first-ombudsman-unit\" style=\"\" rel=\"noopener\">responsible<\/a> for dispute resolution, in March. Consumers can now file claims against ins. companies and banks through Sanadak's <a target=\"_blank\" href=\"https:\/\/sanadak.gov.ae\/en\/\" style=\"\" rel=\"noopener\">website<\/a> or app.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The deadline for submitting requests to redeem balances on <\/strong><strong>e-AED<\/strong><strong> cards is 30 June,<\/strong> the Finance Ministry said in an <a target=\"_blank\" href=\"https:\/\/x.com\/MOFUAE\/status\/1800477124773769422\" style=\"\" rel=\"noopener\">X post<\/a>. Redeem requests can be submitted through the Ministry's <a target=\"_blank\" href=\"http:\/\/mof.gov.ae\" style=\"\" rel=\"noopener\">website<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- The Federal Tax Authority has issued a public <\/strong><strong><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1133.pdf\" style=\"\" rel=\"noopener\">clarification (pdf)<\/a><\/strong> <strong> on corporate tax <\/strong><strong>registration <\/strong><strong>timelines, <\/strong>available on its <a target=\"_blank\" href=\"https:\/\/tax.gov.ae\/en\/\" style=\"\" rel=\"noopener\">website<\/a>. The clarification does not include amendments to the previous legislation effective since March, but clarifies tax registration application deadlines for taxable persons, including residents and non-residents, and registration requirements for juridical persons seeking exemption from the tax.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- Emirates can now apply for home loans via one entity, down from 11,<\/strong> after Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum approved the launch of the Manzili housing services bundle yesterday, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3m1f7z-uae-cabinet-approves-2160-new-housing-decisions\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The initiative \u2014 which offers 18 housing services and cuts back procedures for filing a loan request \u2014 looks to eliminate some 2k government processes and slash processing time by 50% within a year. Required approval documents for home loans have also been reduced from 10 to two documents.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PLUS- The Dubai Ruler also greenlit AED 1.68 bn in housing support under the Sheikh <\/strong><strong>Zayed Housing Program, <\/strong>covering over 2.1k new homes for citizens, Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum <a target=\"_blank\" href=\"https:\/\/x.com\/HHShkMohd\/status\/1800519784888406231\" style=\"\" rel=\"noopener\">said on X<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#6- The Sustainable Finance Working Group introduced new principles for <\/strong><strong>sustainability-related disclosures<\/strong> for licensed financial institutions, covering ESG policies and procedures and transparency in reporting, according to a <a target=\"_blank\" href=\"https:\/\/www.sca.gov.ae\/en\/media-center\/news\/10\/6\/2024\/the-uae-sfwg-launches-the-principles-for-sustainability-related-disclosures-for-reporting-entities.aspx\" style=\"\" rel=\"noopener\">statement<\/a> from the Securities and Commodities Authority. While SCA has signed off on the new principles, they have not yet been officially released. <\/p>\n<p class=\"tag-border-left\"> WATCH THIS SPACE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a><strong> #1- e&amp; optimistic about prospects of a PPF takeover despite EU probe: <\/strong>Telecoms giant e&amp; plans to close the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/a9ddbc35-cadf-4fe9-8368-509c67955a3b%5C\" style=\"\" rel=\"noopener\">acquisition<\/a> of Czech PPF Telecom Group\u2019s assets in Eastern Europe this year, as it remains \u201cfully committed to the transaction,\u201d the telco said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1021.pdf\" style=\"\" rel=\"noopener\">bourse filing (pdf)<\/a> yesterday. e&amp; noted that the European Commission\u2019s probe into the takeover is merely a \u201cprocedural step,\u201d which does not predetermine the investigation\u2019s outcome, and that it will cooperate with the commission closely towards a conclusion for the probe. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>The European Commission said on <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/314b5d26-fd74-4d64-a099-27be8b190815\/eu-launches-probe-into-e&amp;%25e2%2580%2599s-usd-2.4-bn-acquisition-of-ppf%25e2%2580%2599s-assets-%2B-taqa,-criteria-drop-talks-for-naturgy\" style=\"\" rel=\"noopener\">Monday<\/a> that it had launched an investigation into e&amp;\u2019s bid to acquire PPF\u2019s assets in its first anti-subsidy probe into foreign buyers. 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 will make a final decision on the takeover by 15 October. <\/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 bn) 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 <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> as part of the transaction, with CEO Hatem Dowidar saying 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\"> <a id=\"wwtt3\"><\/a><strong> #2- Germany\u2019s Covestro is holding a supervisory board meeting today to discuss granting Adnoc due diligence<\/strong>, following a year of stalled negotiations, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-11\/covestro-is-said-close-to-granting-due-diligence-to-adnoc-lxa5e908\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing people familiar with the matter. Adnoc could potentially raise its bid from the current EUR 60 per share, with Covestro angling for a EUR 1-2 bump. Due diligence would likely take place this month, with the revised bid expected to be made in July. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The General Budget Committee discussed the draft general budget for 2025 <\/strong>within the 2022-2026 budget plan, instructing the preparation and submission of next year\u2019s federal budget to the cabinet, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b3m1eqg-general-budget-committee-discusses-draft-general\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The committee also reviewed this year\u2019s current cashflow, financial position, and progress on the development projects completed over the past months. <\/p>\n<p class=\"tag-border-left\">DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The UAE ranked among the top 10 countries in sustainable construction,<\/strong> holding a total of 641 Leadership in Energy and Environmental Design (Leed) certified projects, according to the latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1047.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a> by project management services firm Stonehaven. Dubai took the lead in the Emirates\u2019 sustainable construction efforts with 348 Leed-certified projects, followed by Ras Al Khaimah with 120 projects. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Dubai International Airport expects to see over 3.7 mn guests pass through between <\/strong><strong>12 <\/strong><strong>and 25 June, <\/strong>averaging daily traffic of 264k on the back of schools letting out for vacation, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3m1eni-dxb-anticipates-welcoming-over-37-million-guests\" style=\"\" rel=\"noopener\">Wam<\/a> reports. Some 287k guests are expected to flood the airport on 22 June alone.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The World Bank reaffirmed its forecast for economic growth in the UAE for the next <\/strong><strong>two years in <\/strong>its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1154.pdf\" style=\"\" rel=\"noopener\">Global Economic Prospects<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1154.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a> that it sees the economy growing at a 3.9% clip in 2024 and 4.1% in 2025. <\/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 UAE and Azerbaijan\u2019s Ministerial Experience Exchange Forum is on its final day <\/strong><strong>today <\/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 style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#2- Alef Education\u2019s shares will begin trading on the ADX today under the ticker AlefEdT. <\/strong>The IPO <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/886cf5ca-8333-4ff7-a9aa-025a811156f8\/\" style=\"\" rel=\"noopener\">raised<\/a> AED 1.89 bn, with over AED 74 bn in orders from local, regional and international investors. <\/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>The global press\u2019 attention is squarely focused on the ongoing courtroom drama that is<\/strong><strong> US politics<\/strong>, with news that US President Joe Biden\u2019s son Hunter was <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/us-news\/hunter-biden-gun-trial-guilty-4dd4263f?mod=hp_lead_pos2\" style=\"\" rel=\"noopener\">convicted<\/a> for obtaining a gun by lying about his drug use dominating the front pages in the states and beyond. Some think the verdict could be a help, rather than a hindrance, to the Biden campaign, with the New York Times <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/06\/11\/us\/politics\/donald-trump-hunter-biden.html\" style=\"\" rel=\"noopener\">writing<\/a> that the verdict undercuts a key Trump talking point \u2014 and fundraising pitch \u2014 about a rigged justice system.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE IN TECH NEWS- Apple\u2019s AI collab with OpenAI already seems to be paying off<\/strong>, with Apple shares shooting up 7.3% on the Nasdaq by the end of trading yesterday after having fallen nearly 2% the day before. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The expected boost in iPhone sales could see Apple become the world\u2019s largest<\/strong><strong> company once again<\/strong>, with its market cap now sitting at USD 3.18 tn, just behind the world\u2019s most valuable company Microsoft with USD 3.22 tn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FROM THE FRONT LINES OF THE TRADE WAR- The US Treasury is <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com.\/content\/1ba434bb-e579-4819-977b-cff6b6b98ecc\" style=\"\" rel=\"noopener\">turning up the<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com.\/content\/1ba434bb-e579-4819-977b-cff6b6b98ecc\" style=\"\" rel=\"noopener\">heat<\/a><\/strong><strong> on foreign financial institutions with ties to Russia <\/strong>with plans to expand its secondary sanctions on the country. Any foreign financial institutions involved with sanctioned Russian entities will now be treated as if it's dealing with Russia\u2019s military-industrial complex.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND IN MARKET NEWS- OPEC is staying by its high demand forecast for the year despite<\/strong><strong> a shaky start<\/strong>, pointing to an expected <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/opec-sticks-2024-oil-demand-growth-forecast-trims-q1-view-2024-06-11\/\" style=\"\" rel=\"noopener\">uptick<\/a> in travel and tourism later in the year driving oil demand to 2.25 mn bbl\/d this year in its latest monthly <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1129.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a>. There remains no consensus on the outlook, with several holding contrarian views, particularly the International Energy Agency, which will release its own oil demand forecast today.<\/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\"> OIL WATCH- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE is ramping up its oil purchases from neighboring oil exporters, <\/strong>after upgrading the Ruwais refinery, which has the capacity to process a wider variety of oil, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-11\/uae-boosts-imports-of-iraqi-crude-after-oil-refinery-upgrade\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. Abu Dhabi National Company (Adnoc) imported a second shipment of 1 mn Basrah heavy crude barrels from Iraq in May, which comes on the heels of its initial heavy oil delivery in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/7d6aa889-9246-47cc-a6b8-c8a1ece9d79e\/more-rainfall-coming-this-week#:~:text=Adnoc%20snaps%20up,its%20upgraded%20refinery.\" style=\"\" rel=\"noopener\">April<\/a>, according to Bloomberg tanker-tracking data. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The tanker Sypros also reportedly delivered oil from Saudi Arabia to the UAE in May<\/strong>, comprising a \u201crare shipment\u201d of straight-run fuel oil that requires further processing at Adnoc\u2019s upgraded refinery, sources familiar with the matter told Bloomberg. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Refresher-<\/strong> Adnoc plans to integrate new units at its Ruwais facility to process a diverse range of crudes, after completing maintenance, Bloomberg reported in April. The add-ons will allow the company to purchase cheaper barrels from other producers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The nine OPEC members subject to supply quotas saw oil production climb to 21.6 mn <\/strong><strong>barrels per day (bbl \/ d) in May, <\/strong>up from 21.5 mn bpd in the previous month, according to <a target=\"_blank\" href=\"https:\/\/www.spglobal.com\/commodityinsights\/en\/market-insights\/latest-news\/oil\/061024-opec-output-surges-120000-bd-in-may-despite-quotas-russia-led-allies-cut-platts-survey\" style=\"\" rel=\"noopener\">S&amp;P Global<\/a>. Total OPEC+ production increased to 26.75 mn bpd from 26.63 mn bpd during the period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OPEC is staying by its high demand forecast for the year<\/strong><strong> despite<\/strong><strong> a shaky start<\/strong>, pointing to an expected <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/opec-sticks-2024-oil-demand-growth-forecast-trims-q1-view-2024-06-11\/\" style=\"\" rel=\"noopener\">uptick<\/a> in travel and tourism later in the year driving oil demand to 2.25 mn bbl \/ d this year in its latest monthly <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1129.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a>. There remains no consensus on the outlook, with several holding contrarian views, particularly the International Energy Agency, which will release its own oil demand forecast today.<\/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 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\/adnoc\/\">Adnoc<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adx\/\">ADX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1200.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1200.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1200.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92972\" class=\"content-area-description single-story post-92972 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-adnoc-drilling tag-alpha-dhabi tag-ma tag-ma-watch tag-ras-al-khaimah-co-for-white-cement wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.6c4ab9fd-8175-428f-aa12-0a6de6066def.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Enersol to buy USD 270 mn stake in Gordon:<\/strong> Enersol, a joint venture between Adnoc Drilling and Alpha Dhabi, is set to become a majority shareholder in US <a target=\"_blank\" href=\"https:\/\/gordontechnologiesllc.com\/\" style=\"\" rel=\"noopener\">Gordon Technologies<\/a> by raising its stake in the oil engineering firm in a USD 270 mn transaction, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1031.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. Enersol will purchase an additional 42.2% stake, bringing the size of its stake to 67.2%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next?<\/strong> Enersol plans to pay about 80% of the additional stake upon closing, which will follow regulatory sign off, while the remaining 20% will be paid over the next two years, subject to meeting specific performance conditions, the companies said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gordon will soon launch domestic operations:<\/strong> Gordon has established its facility in Abu Dhabi, and is planning to kick off operations in the coming weeks. The US-based provider of measurement while drilling (MWD) technology obtained a commercial license from Abu Dhabi\u2019s Department Of Economic Development in <a target=\"_blank\" href=\"https:\/\/gordontechnologiesllc.com\/gordon-technologies-commercial-license-abu-dhabi-expansion\/\" style=\"\" rel=\"noopener\">December<\/a> last year to set up its business in the emirate. <\/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:\/\/enterprise.news\/uae\/en\/news\/story\/0818a4c1-5ac6-4db3-92e1-2be1957b0421\/alpha-dhabi-transfers-25%2525-stake-in-gordon-technologies-to-its-jv-with%253cmark%253e-adnoc%253c%2Fmark%253e%253cmark%253e-drilling%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">January<\/a>, Alpha Dhabi transferred its 25% stake in Gordon Technologies, valued at around USD 180 mn, to Enersol, marking the JV\u2019s first investment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Enersol: <\/strong>Adnoc Drilling and Alpha Dhabi Holding <a target=\"_blank\" href=\"https:\/\/alphadhabi.com\/press_release\/adnoc-drilling-and-alpha-dhabi-to-establish-strategic-partnership\/\" style=\"\" rel=\"noopener\">formed the JV<\/a> committing up to USD 1.5 bn for global investments in energy technology and the enhancement of tech-enabled energy services. Adnoc Drilling holds a 51% majority share in Enersol, while Alpha Dhabi holds the remaining 49%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WATCH THIS SPACE- More Enersol acquisitions to come: <\/strong>Enersol is in the final stages of acquiring controlling stakes in three oilfield services technology companies specializing in the precision manufacturing, completion, and intervention segments, with the transactions expected to be finalized in 3Q 2024, Adnoc Drilling CFO Youssef Salem confirmed to EnterpriseAM UAE. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Enersol wants companies that can boost its diversification efforts:<\/strong> \u201cA major driver of investment decisions will be the ability of those investments to support the UAE\u2019s wider energy security ambitions, net zero agenda and ongoing economic diversification efforts,\u201d the statement reads. <\/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>Ras Al Khaimah White Cement to finalize stake sale next week:<\/strong> <a target=\"_blank\" href=\"http:\/\/www.rakwhitecement.ae\/\" style=\"\" rel=\"noopener\">Ras Al Khaimah<\/a><a target=\"_blank\" href=\"http:\/\/www.rakwhitecement.ae\/\" style=\"\" rel=\"noopener\">Co for White Cement<\/a> \u2019s board has set a 24 June deadline for shareholders to sell their shares to Indian cement manufacturer <a target=\"_blank\" href=\"https:\/\/www.ultratechcement.com\/\" style=\"\" rel=\"noopener\">Ultratech<\/a>, in response to its bid to acquire a 31.6% stake in the company, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1044.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a>. Ras Al Khaimah Co for White Cement\u2019s board of directors said it backs Ultratech\u2019s offer and recommended it to shareholders <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/edition\/am\/24ca3b46-2d30-442f-964c-17bb6a53beca\/eu-launches-anti-subsidy-probe-into-e&amp;%25e2%2580%2599s-ppf-acquisition\" style=\"\" rel=\"noopener\">on Monday<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Management will stay following the acquisition: <\/strong>Ultratech plans to maintain RAK White Cement\u2019s current management structure, retaining \u201cthe skills and expertise of [the company\u2019s] current senior management team on their existing terms.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Refresher:<\/strong> Ultratech offered to purchase around <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/fe17f57f-53d9-4ba7-8cd2-dac521164aae\/%253cmark%253eultratech%253c%2Fmark%253e-to-ramp-up-stake-in-rak-cement\" style=\"\" rel=\"noopener\">158 mn shares<\/a> for AED 181.7 mn through its UAE-based subsidiary, UltraTech Cement Middle East Investments. UltraTech intends to expand the cement manufacturer\u2019s operations locally and globally, and to introduce new products to Rak Cement\u2019s production portfolio, such as wall care putty. The firm had acquired a 29.39% stake in Rak White Cement for USD 101 mn in 2022.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- <\/strong><strong>Taqa pulls the plug on Naturgy takeover: <\/strong>Abu Dhabi\u2019s Taqa will not proceed with the acquisition of Spanish gas producer and renewables player Naturgy after halting discussions with two of the utility\u2019s largest shareholders, CVC Capital Partners and Global Infrastructure Partners (GIP), the energy firm said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1023.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Taqa also confirmed that it has terminated talks with Criteria Caixa<\/strong> over a potential cooperation agreement to hold a stake in Naturgy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Criteria Caixa said on <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/314b5d26-fd74-4d64-a099-27be8b190815\/eu-launches-probe-into-e&amp;%25e2%2580%2599s-usd-2.4-bn-acquisition-of-ppf%25e2%2580%2599s-assets-%2B-taqa,-criteria-drop-talks-for-naturgy#:~:text=Another%20overseas%20M%26A%20falling,its%20stake%20in%20the%20company.\" style=\"\" rel=\"noopener\">Monday<\/a> that talks with Taqa regarding a joint takeover have fallen through. The two companies were reportedly looking to \u201ccooperate\u201d on a potential acquisition. Criteria Caixa currently 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 disclosed in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/045e9633-c047-49c4-aa88-b6d0e8b0e13a\/adib-%2B-taqa-setting-the-record-straight#:~:text=Taqa%20confirms%20it,talks%20with%20Naturgy.\" style=\"\" rel=\"noopener\">April<\/a> that it was in discussions with the three shareholders to potentially acquire their stakes in the Spanish company. The acquisition was expected to meet resistance amid a rising wave of protectionism in the EU, which would have prompted the Spanish government to negotiate maintaining a stake. <\/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-drilling\/\">Adnoc Drilling<\/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\/ma\/\">M&amp;A<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ras-al-khaimah-co-for-white-cement\/\">Ras Al Khaimah Co for White Cement<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92974\" 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=\"92974\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/arada-closes-usd-400-mn-sukuk\/\">\r\n                            Arada closes USD 400 mn sukuk                        <\/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\/12\/arada-closes-usd-400-mn-sukuk\/\" 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 issuance was priced at par with a coupon of 8%, with a spread of 355 bps over US Treasuries \u2014 marking one of the highest price tightening from a real estate issuer in the GCC, according to the news agency. It was rated B1 by Moody\u2019s and B+ by Fitch. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The issuance was 3.5x oversubscribed<\/strong>, drawing some USD 1.45 bn in orders from institutional investors, fund managers, high net worth individuals and banks in Europe, the Middle East and Asia, Wam said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The proceeds will be used for general corporate purposes and to support its projects<\/strong>, as well as the management of existing bilateral funding.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This marks the developer\u2019s second sukuk issuance<\/strong>, following its debut <a target=\"_blank\" href=\"https:\/\/www.arada.com\/en\/latest-news\/arada-successfully-closes-landmark-debut-350-million-deal-completing-the-first-usd-corporate-sukuk-globally-in-2022\/\" style=\"\" rel=\"noopener\">USD 359 mn<\/a> issuance in 2022, and is the first under a new USD 1 bn sukuk program. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> Our friends at <strong>Mashreq<\/strong>, along with <strong>RAK Bank<\/strong>, <strong>Sharjah Islamic<\/strong> <strong>Bank<\/strong>, <strong>Kamco Invest<\/strong>, <strong>Arab Bank<\/strong>, and <strong>Warba Bank<\/strong>, acted as joint lead managers and bookrunners. <strong>Abu Dhabi Commercial Bank<\/strong>, <strong>Dubai Islamic Bank<\/strong>, <strong>Emirates NBD Capital<\/strong>, and <strong>Standard Chartered Bank<\/strong> were joint global coordinators. <\/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\/arada-developments\/\">Arada Developments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt-watch\/\">DEBT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/real-estate\/\">Real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/sukuk\/\">Sukuk<\/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=\"92976 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=\"92976\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/92976-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92976\" class=\"content-area-description single-story post-92976 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=\"92977\" 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=\"92977\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">INVESTMENT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/polynome-group-plans-to-launch-usd-100-mn-ai-startup-fund\/\">\r\n                            Polynome Group plans to launch USD 100 mn AI startup fund                        <\/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\/12\/polynome-group-plans-to-launch-usd-100-mn-ai-startup-fund\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1135.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1135.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1135.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92977\" class=\"content-area-description single-story post-92977 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-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\/.89d688d1-4695-4ddd-9e79-100245653e8e.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Tech company <\/strong><strong><a target=\"_blank\" href=\"https:\/\/polynome.ai\/\" style=\"\" rel=\"noopener\">Polynome Group<\/a><\/strong><strong>&nbsp;said it plans to set up a USD 100 mn AI startup fund<\/strong> on the sidelines of the Dubai Centre for AI Applications and National Program for AI\u2019s AI Retreat, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3m1ezb-polynome-group-unveils-plans-for-100-fund-drive\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The company submitted an application to the Dubai Financial Services Authority, and is set to go live in 1Q 2025 once the authority has signed off on the proposed structure and investment strategy of the fund.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"background-color: transparent;\"><b>About the fund: <\/b><\/span><span style=\"background-color: transparent;\">The fund will target 40 tech, AI software, and robotics startups in seed, series A, and growth stages, over a five-year period. Investment tickets will range between USD 500k and USD 5 mn per company.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The fund will also offer investment advisory services and technical due diligence for startups<\/strong>, with a team of over 100 AI and machine learning experts, data scientists, natural language processing specialists, computer vision engineers, and mentors from leading global tech companies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SPEAKING OF THE AI RETREAT- The inaugural event will not be a one-time thing: <\/strong>The AI Retreat will become an annual event, with the next iteration slated for 25 April, 2025, according to a media office <a target=\"_blank\" href=\"https:\/\/mediaoffice.ae\/en\/news\/2024\/june\/11-06\/hamdan-bin-mohammed-ai-retreat\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><i>**This story was amended to clarify that the company is awaiting sign-off from the DFSA before it launches in 2025.<\/i><\/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\/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=\"92979\" 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=\"92979\">\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\">Tech<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/99-of-uae-companies-faced-identity-related-security-threats-in-the-last-year-cyberark-report\/\">\r\n                            99% of UAE companies face identity related security threats in the last year -CyberArk report                        <\/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\/12\/99-of-uae-companies-faced-identity-related-security-threats-in-the-last-year-cyberark-report\/\" 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\/12\/99-of-uae-companies-faced-identity-related-security-threats-in-the-last-year-cyberark-report\/')\">\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\/12\/99-of-uae-companies-faced-identity-related-security-threats-in-the-last-year-cyberark-report\/\">\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=99% of UAE companies faced identity related security threats in the last year -CyberArk report&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/99-of-uae-companies-faced-identity-related-security-threats-in-the-last-year-cyberark-report\/\">\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\/12\/99-of-uae-companies-faced-identity-related-security-threats-in-the-last-year-cyberark-report\/&title=99% of UAE companies faced identity related security threats in the last year -CyberArk report\">\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=99%25+of+UAE+companies+faced+identity+related+security+threats+in+the+last+year+-CyberArk+report+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F12%2F99-of-uae-companies-faced-identity-related-security-threats-in-the-last-year-cyberark-report%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\/12\/99-of-uae-companies-faced-identity-related-security-threats-in-the-last-year-cyberark-report\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1132.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92980\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/99-of-uae-companies-faced-identity-related-security-threats-in-the-last-year-cyberark-report\/1132-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1132.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1132.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1132.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1132.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92979\" class=\"content-area-description single-story post-92979 post type-post status-publish format-standard has-post-thumbnail hentry category-_newspack_tech tag-business tag-enterpriseam-uae tag-tech wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.0f358acb-cde9-4a42-aa91-98057ee0a245.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Around 99% of organizations in the UAE faced identity related security <\/strong><strong>breaches <\/strong><strong>at least once or twice within the last 12 months<\/strong>, according to CyberArk\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1020.pdf\" style=\"\" rel=\"noopener\">Threat Landscape EMEA Report 2024 (pdf)<\/a>. 99% faced two or more attacks during the same period, with the number one cause for cyberattacks being remote or hybrid work, according to the report. Increased use of on-premises and SaaS applications is the second most common cause of identity breaches, it said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Phishing and vishing are the most common types of cyberattacks: <\/strong>Around 98% of UAE organizations have been breached due to phishing and vishing \u2014 voice phishing \u2014 attacks, with almost 51% of organizations facing negative impacts on their businesses due to breaches.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The good news:<\/strong> Some 81% of UAE companies have adopted cyberins. policies to mitigate risk, while 92% have automated their phishing analysis process, the report said. Some 56% plan to boost identity-related products or services by over 10% next year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE workers know their way around a deepfake:<\/strong> Around 86% of C-level respondents in the UAE expressed confidence in their employees' ability to identify deepfakes of their executives, compared to 74% of all other respondents in the EMEA region. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE's C-level respondents identified AI-powered malware as the top threat from AI<\/strong><strong> tools in the next year<\/strong>, while others in the region identified AI-powered data poisoning as the primary concern.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Around 73% of respondents in the UAE suggest that up to half of all identities, including <\/strong><strong>humans and machines, have access to sensitive data<\/strong>, highlighting the necessity to reassess their definition of \u201cprivileged users,\u201d which provides specific users with the authority to perform security-related functions, according to the report. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Adopting cloud security services:<\/strong> Around 64% of organizations in the UAE currently use three or more cloud service providers, exceeding the EMEA average of 55%, with primary concerns revolving around data privacy and software vulnerabilities in cloud security, according to the report.<\/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\/business\/\">business<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/tech\/\">tech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92981\" 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=\"92981\">\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\">STARTUP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/uae-based-contech-tenderd-closes-usd-30-mn-series-a-funding-round\/\">\r\n                            Emirati contech Tenderd closes USD 30 mn in funding round                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/uae-based-contech-tenderd-closes-usd-30-mn-series-a-funding-round\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/uae-based-contech-tenderd-closes-usd-30-mn-series-a-funding-round\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/uae-based-contech-tenderd-closes-usd-30-mn-series-a-funding-round\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=UAE-based contech Tenderd closes USD 30 mn series A funding round&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/uae-based-contech-tenderd-closes-usd-30-mn-series-a-funding-round\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/uae-based-contech-tenderd-closes-usd-30-mn-series-a-funding-round\/&title=UAE-based contech Tenderd closes USD 30 mn series A funding round\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=UAE-based+contech+Tenderd+closes+USD+30+mn+series+A+funding+round+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F12%2Fuae-based-contech-tenderd-closes-usd-30-mn-series-a-funding-round%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/uae-based-contech-tenderd-closes-usd-30-mn-series-a-funding-round\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1066.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92982\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/uae-based-contech-tenderd-closes-usd-30-mn-series-a-funding-round\/1066-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1066.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1066.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1066.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1066.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92981\" class=\"content-area-description single-story post-92981 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-construction tag-enterpriseam-uae tag-investment-watch 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\/.b451e755-4ba9-4595-8e4e-8867361360e0.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Emirati contech Tenderd closes USD 30 mn in funding round: <\/strong>UAE-based contech startup <a target=\"_blank\" href=\"https:\/\/tenderd.com\/?utm_source=Linkedin&amp;utm_medium=Organic&amp;utm_campaign=Page\" style=\"\" rel=\"noopener\">Tenderd<\/a> raised USD 30 mn in a series A funding round from both new and existing investors, according to a <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2024\/06\/tenderd-secures-30-million-series-a-led-ap-moller\" style=\"\" rel=\"noopener\">press release<\/a>. The round was led by <a target=\"_blank\" href=\"https:\/\/apmoller.com\/\" style=\"\" rel=\"noopener\">AP Moller Holding<\/a>, and saw the participation of new investors, including <a target=\"_blank\" href=\"https:\/\/quadriventures.com\/\" style=\"\" rel=\"noopener\">Quadri Ventures<\/a> and Saurya Prakash (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/saurya-prakash-sinha-19aab521\/?originalSubdomain=in\" style=\"\" rel=\"noopener\">Linkedin<\/a>), and existing investors, including Aramco\u2019s venture arm, <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\/what-we-do\/commercial-ecosystems\/waed-ventures\" style=\"\" rel=\"noopener\">Wa\u2019ed Ventures<\/a>, Nakhla Ventures, <a target=\"_blank\" href=\"https:\/\/somacap.com\/\" style=\"\" rel=\"noopener\">SOMA Capital<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.liquid2.vc\/\" style=\"\" rel=\"noopener\">Liquid 2 Ventures<\/a>. Tenderd will use the funds to develop its technology and expand its global footprint.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Tenderd: <\/strong>The company was founded in 2018 by Arjun Mohan (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/mohanarjun\/\" style=\"\" rel=\"noopener\">Linkedin<\/a>), and offers customers AI-generated data analytics to optimize asset usage and lower emissions, specifically catering to heavy industries like construction, energy, and logistics. Tenderd's current investors include Peter Thiel, Paul Graham, and Y Combinator.<\/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\/construction\/\">CONSTRUCTION<\/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\/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=\"92983\" 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=\"92983\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/emirates-nbds-reits-net-income-dips-in-fy-2023-2024\/\">\r\n                            Emirates NBD\u2019s REIT\u2019s net income dips in FY 2023\/2024                        <\/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\/12\/emirates-nbds-reits-net-income-dips-in-fy-2023-2024\/\" 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\/12\/emirates-nbds-reits-net-income-dips-in-fy-2023-2024\/')\">\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\/12\/emirates-nbds-reits-net-income-dips-in-fy-2023-2024\/\">\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=Emirates NBD\u2019s REIT\u2019s net income dips in FY 2023\/2024&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/emirates-nbds-reits-net-income-dips-in-fy-2023-2024\/\">\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\/12\/emirates-nbds-reits-net-income-dips-in-fy-2023-2024\/&title=Emirates NBD\u2019s REIT\u2019s net income dips in FY 2023\/2024\">\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=Emirates+NBD%E2%80%99s+REIT%E2%80%99s+net+income+dips+in+FY+2023%2F2024+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F12%2Femirates-nbds-reits-net-income-dips-in-fy-2023-2024%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\/12\/emirates-nbds-reits-net-income-dips-in-fy-2023-2024\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1032.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92984\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/emirates-nbds-reits-net-income-dips-in-fy-2023-2024\/1032-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1032.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1032.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1032.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1032.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92983\" class=\"content-area-description single-story post-92983 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-earnings-watch tag-emirates-nbd tag-enterpriseam-uae tag-real-estate wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.bc1be5f9-5d0c-4e10-acb4-f2f11941f6ff.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Emirates NBD\u2019s real estate investment trust\u2019s (ENBD REIT) net income dipped <\/strong><strong>slightly to USD 21 mn in its FY 2023-2024<\/strong>, which ended in March, factoring in non-cash valuation changes, according to a <a target=\"_blank\" href=\"https:\/\/www.nasdaqdubai.com\/trading\/disclosures\/2c73064b-b18c-4a7a-b29e-c5c03fbb5fc0\" style=\"\" rel=\"noopener\">Nasdaq Dubai disclosure<\/a>. Gross income jumped to USD 34.5 mn during the quarter, up from USD 31.3 mn last year. Its property portfolio value rose 4% to USD 384 mn during the year, driven by a 93% occupancy rate.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the downside, net rental income fell 15% to USD 7.8 mn<\/strong> amid higher financing and operating costs, which offset revenue gains, the fund said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cWe expect further positive momentum in Dubai\u2019s real estate market conditions with healthy demand for high-quality sustainable assets, despite the persistent high interest rate environment,\u201d CEO Samir Kazi said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The REIT is eyeing further improvements in value to shareholders within the next nine to 12 months<\/strong>, with the fund focusing on \u201cenhancing the attractiveness of our properties to drive income and occupancy levels, [managing] our financing and other costs whilst improving the overall mix of the portfolio,\u201d he added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dividends:<\/strong> The fund proposed a final dividend of USD 4 mn, bringing the total annual payout to USD 7.5 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Emirates REIT\u2019s manager Equitativa Dubai will extend its USD 380 mn secured sukuk by one year<\/strong>, now maturing on 12 December 2025, according to a filing picked up by <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/islamic-economy\/islamic-finance\/emirates-reit-exercises-one-year-extension-option-on-380mln-sukuk-y2azkqgw\" style=\"\" rel=\"noopener\">Zawya<\/a>. The sukuk was originally issued in 2017 and refinanced in 2022 with a bondholder agreement. <\/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\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/emirates-nbd\/\">Emirates NBD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/real-estate\/\">Real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92985\" 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=\"92985\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/ithmaar-holding-appoints-new-ceo-invest-bank-ceo-resigns\/\">\r\n                            Ithmaar Holding taps new CEO + Invest Bank CEO resigns                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/ithmaar-holding-appoints-new-ceo-invest-bank-ceo-resigns\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/ithmaar-holding-appoints-new-ceo-invest-bank-ceo-resigns\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/ithmaar-holding-appoints-new-ceo-invest-bank-ceo-resigns\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Ithmaar Holding appoints new CEO + Invest Bank CEO resigns&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/ithmaar-holding-appoints-new-ceo-invest-bank-ceo-resigns\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/ithmaar-holding-appoints-new-ceo-invest-bank-ceo-resigns\/&title=Ithmaar Holding appoints new CEO + Invest Bank CEO resigns\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Ithmaar+Holding+appoints+new+CEO+%2B+Invest+Bank+CEO+resigns+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F12%2Fithmaar-holding-appoints-new-ceo-invest-bank-ceo-resigns%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/ithmaar-holding-appoints-new-ceo-invest-bank-ceo-resigns\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2179.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92986\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/ithmaar-holding-appoints-new-ceo-invest-bank-ceo-resigns\/2179-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2179.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2179.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2179.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2179.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92985\" class=\"content-area-description single-story post-92985 post type-post status-publish format-standard has-post-thumbnail hentry category-moves 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\/.ea68d060-d993-43a2-9a13-0e1ff1e0ced1.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ithmaar Holding<\/strong> appointed <strong>Maysan Almaskati<\/strong> (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/maysan-almaskati-6166866\/?originalSubdomain=bh\" style=\"\" rel=\"noopener\">Linkedin<\/a>) as its new CEO, overseeing its two wholly-owned subsidiaries, Ithmaar Bank and IB Capital, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1075.pdf\" style=\"\" rel=\"noopener\">DFM disclosure (pdf)<\/a>. Almaskati has over 24 years of investment banking experience, previously serving as Ithmaar Bank\u2019s assistant general manager.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Invest Bank<\/strong> accepted the <strong>resignation<\/strong> of its <strong>CEO Ahmed Mohd Fawzi Abu Eideh<\/strong>, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1105.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>. The lender appointed an undisclosed member of its senior management to fill the position for the interim period, until it taps a new CEO.<\/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\/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=\"92987\" 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=\"92987\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">UAE IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/the-uae-will-become-a-global-ai-heavyweight-ai-minister\/\">\r\n                            The UAE will become a global AI heavyweight -AI minister                        <\/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\/12\/the-uae-will-become-a-global-ai-heavyweight-ai-minister\/\" 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\/12\/the-uae-will-become-a-global-ai-heavyweight-ai-minister\/')\">\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\/12\/the-uae-will-become-a-global-ai-heavyweight-ai-minister\/\">\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=The UAE will become a global AI heavyweight -AI minister&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/the-uae-will-become-a-global-ai-heavyweight-ai-minister\/\">\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\/12\/the-uae-will-become-a-global-ai-heavyweight-ai-minister\/&title=The UAE will become a global AI heavyweight -AI minister\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+UAE+will+become+a+global+AI+heavyweight+-AI+minister+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F12%2Fthe-uae-will-become-a-global-ai-heavyweight-ai-minister%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\/12\/the-uae-will-become-a-global-ai-heavyweight-ai-minister\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1151.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92988\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/the-uae-will-become-a-global-ai-heavyweight-ai-minister\/1151-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1151.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1151.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1151.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1151.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92987\" class=\"content-area-description single-story post-92987 post type-post status-publish format-standard has-post-thumbnail hentry category-uae-in-the-news tag-ai tag-enterpriseam-uae tag-omar-sultan-al-olama tag-tech tag-uae-in-the-news wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.a8f3ad02-adc1-4053-aeaf-c3f77917337e.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE is poised to \u201cbecome a heavyweight in AI in the years to come,\u201d<\/strong> UAE AI and Digital Economy State Minister Omar Al Olama told Bloomberg (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/videos\/2024-06-11\/al-olama-on-uae-s-ai-ambitions\" style=\"\" rel=\"noopener\">watch, runtime: 4:02<\/a>). The UAE is a \u201cpreferred partner to produce semiconductors,\u201d Al Olama said, citing its trading partnerships and safe political environment. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Olama also said US concerns over potential security threats that could come from moving advanced chip technology from the region to China are founded <\/strong>during the interview <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/videos\/2024-06-11\/uae-ai-minister-on-mideast-china-chips-export-video\" style=\"\" rel=\"noopener\">(watch, runtime: 3:12)<\/a>. The UAE has proven to be a \u201cstrategic partner\u201d with the US, he added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- The UAE is in line for big AI investments and exports from the US.<\/strong> Microsoft is investing some <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/0cc78916-0227-4247-b601-f1bf74f38c73\/microsoft-pumps-usd-1.5-bn-into-abu-dhabi%25e2%2580%2599s%253cmark%253e-g42%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">USD 1.5 bn<\/a> in G42 to position the UAE as a \u201cglobal AI hub,\u201d and a \u201csecond phase\u201d of the agreement could see the US tech giant <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f9598e97-f1b7-4b58-acf6-7e1d4881c1bb\/g42-could-get-crucial-ai-infrastructure-from%253cmark%253e-microsoft%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">exporting<\/a> large-scale AI components from the US to the UAE, which will require licenses, we reported earlier. G42 has already cut ties with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/edition\/am\/45bff422-6aef-41f5-bd13-0fce03beb4d9\/Real-estate-market-growth-will-be-driven-by-expats-%2B-HNWI,-Markaz-suggests\" style=\"\" rel=\"noopener\">Chinese businesses<\/a> in a bid to reportedly appease US partners, and there were suggestions it could also give up its use of Huawei telecom equipment.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/omar-sultan-al-olama\/\">Omar Sultan Al Olama<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/tech\/\">tech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/uae-in-the-news\/\">UAE IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92989\" 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=\"92989\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/arabian-hills-awards-infrastructure-contract-for-aed-22-bn-project\/\">\r\n                            Arabian Hills awards infrastructure contract for AED 22 bn project                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/arabian-hills-awards-infrastructure-contract-for-aed-22-bn-project\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/arabian-hills-awards-infrastructure-contract-for-aed-22-bn-project\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/arabian-hills-awards-infrastructure-contract-for-aed-22-bn-project\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Arabian Hills awards infrastructure contract for AED 22 bn project&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/arabian-hills-awards-infrastructure-contract-for-aed-22-bn-project\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/arabian-hills-awards-infrastructure-contract-for-aed-22-bn-project\/&title=Arabian Hills awards infrastructure contract for AED 22 bn project\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Arabian+Hills+awards+infrastructure+contract+for+AED+22+bn+project+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F12%2Farabian-hills-awards-infrastructure-contract-for-aed-22-bn-project%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/arabian-hills-awards-infrastructure-contract-for-aed-22-bn-project\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/884.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92990\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/arabian-hills-awards-infrastructure-contract-for-aed-22-bn-project\/884-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/884.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"884.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/884.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/884.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92989\" class=\"content-area-description single-story post-92989 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-arabian-hills tag-artificial-intelligence tag-aviation tag-bayanat tag-dubai-holding tag-enterpriseam-uae tag-healthcare tag-infrastructure tag-real-estate wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.3e225680-f54d-42f1-9435-c2af910e521b.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>#1- UAE-based Arabian Hills Real Estate Development awarded the infrastructure <\/strong><strong>works contract for its AED 22 bn flagship residential project<\/strong> along the Dubai-Al Ain Road, <a target=\"_blank\" href=\"https:\/\/www.tradearabia.com\/news\/CONS_423048.html\" style=\"\" rel=\"noopener\">Trade Arabia<\/a> reports. The company <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/c05c38a9-e886-4469-80d7-d5fc24af2a90\/%253cmark%253earabian%253c%2Fmark%253e%253cmark%253e-hills%253c%2Fmark%253e-inaugurates-aed-22-bn-residential-project\" style=\"\" rel=\"noopener\">inaugurated<\/a> the gated community, which is set to comprise 14 phases, on Monday. The project is born out of a partnership with Ara Real Estate Development, who is 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\"><strong>#2- <\/strong><strong>Dubai Asset Management partners with Emirates NBD to enable flexible payments: <\/strong>Dubai Asset Management (DAM), a residential leasing vertical of Dubai Holding Asset Management, partnered with Emirates NBD to facilitate flexible payment installment plans for rentals of their Dubai communities, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/dubai-asset-management-and-emirates-nbd-announce-strategic-partnership-to-enable-flexible-payments-p1rgia72\" style=\"\" rel=\"noopener\">press release<\/a>. The agreement will allow residents the flexibility to divide their rental payments across three, six, or 12 months with zero interest installment plans, with a credit limit ranging from AED 1k up to AED 150k. <\/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\">TRANSPORT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bayanat and Imkan sign MoU to develop smart mobility infrastructure: <\/strong>Imkan properties signed an MoU with Bayanat to launch a smart mobility infrastructure project on SHA Island Emirates at AlJurf, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3m1ehs-bayanat-imkan-develop-smart-mobility\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The facility will be located between Abu Dhabi and Dubai, and will feature AI-enabled transportation and the SHA Wellness Clinic. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who will do what: <\/strong>Imkan properties will develop the project\u2019s physical structure, while Bayanat will provide the digital infrastructure responsible for the integration of autonomous driving, HD maps, and smart mobility solutions. <\/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\">AVIATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Etihad Airways, EgyptAir add to codeshare agreement: <\/strong>Abu Dhabi carrier Etihad Airways and Egypt\u2019s national airline EgyptAir inked an MoU to ramp up commercial and operational ties, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3m1ekn-etihad-airways-egyptair-sign-mou-deepen\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The agreement will see the two carriers deepen their existing codeshare agreement to offer one-stop access for EgyptAir travelers to more destinations in Etihad's network, including Asia and Australia, and cooperate in frequent flyer programs and joint marketing campaigns.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">INFRASTRUCTURE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Kleindienst to establish maritime facility in Ras Al Khaimah: <\/strong>Dubai-based property developer Kleindienst Group inked an MoU with maritime hub operator Rak Ports to set up a maritime facility in Ras Al Khaimah, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/kleindienst-group-and-rak-ports-sign-shipyard-mou-for-floating-residences-and-first-ever-giga-yacht-built-in-the-gcc-fiprpdzi\" style=\"\" rel=\"noopener\">press release<\/a>. The shipyard will comprise four sections, including a 144 m giga-yacht section, making Ras Al Khaimah the first in the GCC capable of constructing giga-yachts. Other sections will include a coral garden focusing on underwater living experiences, and tug and ferry sections for vessel construction. Kleindienst also plans to establish a maritime academy at the shipyard.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">HEALTHCARE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed approved the launch of <\/strong><strong>the Emirati Reference Genome Platform <\/strong>at a meeting of the Emirates Genome Council yesterday, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3m1ewb-khaled-bin-mohamed-bin-zayed-chairs-emirates\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The platform provides clinicians and researchers access to data from the Emirati Reference Genome Study, in a bid to ramp up their ability to identify genetic risk factors and develop personalized treatments. The crown prince also greenlit a framework to advance personalized and preventive medicine across the UAE.<\/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\/arabian-hills\/\">Arabian Hills<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/artificial-intelligence\/\">artificial intelligence<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/aviation\/\">Aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/bayanat\/\">Bayanat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai-holding\/\">Dubai Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/healthcare\/\">Healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/real-estate\/\">Real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"92991\" 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=\"92991\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/expectations-of-only-one-rate-cut-this-year-rise-as-the-fed-wraps-two-day-meeting-today\/\">\r\n                            Expectations of only one rate cut this year rise as the Fed wraps two-day meeting today                        <\/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\/12\/expectations-of-only-one-rate-cut-this-year-rise-as-the-fed-wraps-two-day-meeting-today\/\" 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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Over half of the 39 polled academic economists forecast a single 25-bps cut in 2024, while a quarter of the analysts anticipate no cuts at all. The forecast comes as the Fed wraps its two-day June meeting today.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>With only four meetings left in the year, \u201crapid-fire\u201d cuts in the current climate are unlikely<\/strong>, economists say. \u201cThe Fed\u2019s narrative is going to be very similar to what we\u2019ve been hearing: \u2018We\u2019ve made progress bringing down inflation; we\u2019re not in a hurry to cut rates,\u2019\u201d Nathan Sheets, a former senior economist at the Fed, currently global chief economist at Citi, told the <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/federal-reserve-inflation-prices-interest-rates-cuts-bdc7b2c3fd2b8fa736cae737124c8870\" style=\"\" rel=\"noopener\">Associated Press<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The key data everyone is waiting for: <\/strong>US inflation figures will be out today, ahead of the Fed\u2019s \u201cdot plot,\u201d which will set expectations for the rate cuts to come. Inflation fell to 3.4% in April. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>When will the Fed deliver the cut?<\/strong> A third of the polled economists anticipate the Fed pulling the trigger on the first cut in September, the Fed\u2019s final meeting before the presidential elections. Investors are also banking on the Fed to begin cutting rates in September as well, according to the <a target=\"_blank\" href=\"https:\/\/www.cmegroup.com\/markets\/interest-rates\/cme-fedwatch-tool.html\" style=\"\" rel=\"noopener\">CME FedWatch Tool<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Traders are already unwinding their positions on a rally following the meeting<\/strong>, as investors price in just one cut this year, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-11\/bond-traders-are-quick-to-abandon-long-wagers-before-fed-meeting-cpi-data?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. Yields on 10-year notes have also climbed near 4.48% earlier this week. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Economists\u2019 optimism for a soft landing for the US economy has also increased, <\/strong>with 52% of FT\u2019s poll respondents now predicting that the US will not fall into a recession until 2026 or beyond, compared to 46% in March. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO ON PLANET FINANCE- Kuwait\u2019s first IPO in two years:<\/strong> Beyout Investment Group has made its debut on the Boursa Kuwait, the bourse\u2019s first in around two years, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1076.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The company raised some USD 147 mn from taking a 30% stake to market. Our friends at EFG Hermes UAE were joint bookrunners and global coordinators on the offering alongside the National Investments Company.<\/p>\n<p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are once again mixed<\/strong> as investors mull inflation data out in China, as well as expectations of inflation data from India and the US later today. Hong Kong\u2019s Hang Seng and Japan\u2019s Nikkei both opened lower, while South Korea\u2019s Kospi was up 0.45%. Wall Street futures are little changed as traders await the Fed\u2019s decision today. <\/p>\n<p><a target=\"_blank\" id=\"t.9d9e6615e425693af95cb30cb2e76a6b1a6affbf\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p>\n<div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;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\">9,000<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.0% (YTD: -6.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,009<\/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: -1.3%)<\/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>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\">3,380<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: -12.0%)<\/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-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,775<\/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: -1.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">26,082<\/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: +4.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&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\">5,375<\/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: +12.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,148<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.0% (YTD: +5.4%)<\/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\">4,965<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.0% (YTD: +9.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 81.92<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 3.11<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;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 2,333.00<\/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\">+0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 67,298.30<\/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\">-3.4% (YTD: +59.1%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ADX remained flat yesterday<\/strong> on turnover of AED 1.3 bn. The index is down 6.0% 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>PureHealth (+7.5%), Taqa (+7.2%) and National Bank of Umm Al Qaiwain (+5.6%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Rapco Investment (-3.0%), Manazel (-2.6%) and Phoenix Group (-2.2%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over on the DFM<\/strong>, the index closed up 0.9% on turnover of AED 312.9 mn. Meanwhile Nasdaq Dubai closed up 0.2%.<\/p>\n<p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai Investments appointed <\/strong><strong><a target=\"_blank\" href=\"https:\/\/xcube.ae\/?source=%7Bcampaign%7D&amp;adgroup=%7Badgroup%7D&amp;keyword=xcube&amp;gad_source=1&amp;gclid=CjwKCAjw65-zBhBkEiwAjrqRMC-7CrHp0-ZcgutARJu1n812NONi_xQyZ8ETXuwHiX1LW3grIpXpoxoCvlYQAvD_BwE\" style=\"\" rel=\"noopener\">xCube<\/a><\/strong><strong> as the new liquidity provider for its shares on <\/strong><strong>the Dubai Financial <\/strong>Market, effective yesterday, a company <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1048.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> reads. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BHM Capital carried out price stabilization mechanisms for Spinneys\u2019 listed stocks on <\/strong><strong>the DFM,<\/strong> according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1107.pdf\" style=\"\" rel=\"noopener\">DFM disclosure (pdf)<\/a>. Spinneys had tapped BHM Capital as its price stabilization manager back in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/35ee8cde-bbca-4165-b2d0-e36485688950\/al-mal-capital-reit-completes-aed-180-mn-capital-increase\" style=\"\" rel=\"noopener\">April<\/a>, allowing the firm to conduct price stabilization transactions to prop up Spinneys\u2019 share prices.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong>Price stabilizing mechanisms involve underwriters purchasing shares in the secondary market to manage volatility in share prices after an initial public offering or other transactions. Think of it as a really strategic share-buyback program run by a banker with the aim of helping a share perform better out of the gate. Share stabilization programs are typically time-limited and wrap up in a matter of weeks after a transaction.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/economy\/\">Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/planet-finance\/\">PLANET 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size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"92994\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/12\/uae-calls-for-a-permanent-ceasefire-at-emergency-gaza-meeting-in-jordan\/1148-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1148.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1148.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1148.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1148.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92993\" class=\"content-area-description single-story post-92993 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-diplomacy tag-enterpriseam-uae tag-uae-azerbaijan-relations tag-war-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\/.2e72b695-17c4-4341-b124-039c6b81dcd8.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE reiterated its call for a permanent ceasefire and an end to the violence in Gaza<\/strong>, alongside unimpeded access to humanitarian aid and the establishment of a two-state solution and an independent Palestinian state, in a statement following the emergency Gaza meeting in Jordan, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b3m1ez6-uae-emphasises-need-for-comprehensive-strategic\" style=\"\" rel=\"noopener\">Wam<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Foreign Affairs Minister Abdullah bin Zayed Al Nahyan met with US Secretary of State Antony Blinken on the sidelines of the meeting <\/strong>in Jordan to discuss the prospects of a ceasefire, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3m1fdr-abdullah-bin-zayed-meets-secretary-state-sidelines\" style=\"\" rel=\"noopener\">Wam<\/a> reported separately. He also discussed the ceasefire with Qatari Prime Minister Mohammed bin Abdulrahman al Thani, as well as ways to boost bilateral cooperation, the news agency <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3m1fdq-abdullah-bin-zayed-meets-with-qatari-amman\" style=\"\" rel=\"noopener\">reported<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> OTHER DIPLOMACY NEWS-<\/p>\n<ul>\n<li><strong>President Mohamed bin Zayed Al Nahyan <\/strong>discussed<strong> bilateral relations <\/strong>and <strong>cooperation <\/strong>with<strong> Azerbaijan's Internal Affairs<\/strong> Minister Vilayat Eyvazov. (<a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3m1f52-uae-president-receives-azerbaijani-minister\" style=\"\" rel=\"noopener\">Wam<\/a>)<\/li>\n<li><strong>Deputy Prime Minister and Interior Minister Sheikh Saif bin Zayed Al Nahyan <\/strong>also met with<strong> Eyvazov <\/strong>and his accompanying delegation<strong>,<\/strong> discussing ramping up <strong>cooperation<\/strong> in the <strong>security<\/strong> and <strong>policing<\/strong> sectors. (<a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3m1f50-saif-bin-zayed-minister-interior-azerbaijan\" style=\"\" rel=\"noopener\">Wam<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/uae-azerbaijan-relations\/\">UAE-Azerbaijan relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/war-watch\/\">War 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=\"92995\" 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\/12\/92995-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-92995\" class=\"content-area-description single-story post-92995 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>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>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>24 June <\/span><span>(Monday): The deadline for shareholders of Ras Al Khaimah White Cement to sell their shares to Ultratech.<\/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>Arada issues USD 400 mn sukuk | Alpha Dhabi, Adnoc Drilling JV raises stake in Gordon | Polynome launches USD 100 mn AI fund<\/p>\n","protected":false},"featured_media":92968,"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-92967","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"350e7992-5d02-4429-b684-495bf28b5290","teaser":"Arada issues USD 400 mn sukuk | Alpha Dhabi, Adnoc Drilling JV raises stake in Gordon | Polynome launches USD 100 mn AI fund","photo_url":"https:\/\/ent.news\/2024\/3\/1775.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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