{"id":93073,"date":"2024-06-14T00:00:00","date_gmt":"2024-06-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=93073"},"modified":"2025-12-15T00:38:57","modified_gmt":"2025-12-15T00:38:57","slug":"cbuae-sees-the-economy-growing-3-9-this-year","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/cbuae-sees-the-economy-growing-3-9-this-year\/","title":{"rendered":"CBUAE sees the economy growing 3.9% this year"},"content":{"rendered":"<section id=\"93075\" 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=\"93075\">\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\/14\/another-adx-tadawul-listing-soon\/\">\r\n                            THIS MORNING: Another ADX-Tadawul listing soon?                        <\/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\/14\/another-adx-tadawul-listing-soon\/\" 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 President also pledged to cover all fines for the released inmates.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The big story here home<\/strong> is the Central Bank\u2019s downward revision of its growth forecast for the year to 3.9%, as well as news that Dubai accounted for more than half of FDI into tech projects in the region last year. <\/p>\n<p class=\"tag-border-left\">PSA- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><b>WEATHER- The weather has cooled slightly from its &gt;40\u00b0C highs<\/b>, with the mercury peaking at 39\u00b0C today in Dubai, with an overnight low of 30\u00b0C. Over in Abu Dhabi, temperatures will hit 36\u00b0C, before cooling to an overnight low of 31\u00b0C. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Energy and Infrastructure Ministry will suspend land and maritime transport services for 24 hours<\/strong> starting today at 2 pm, to develop service servers, according to a ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/people\/MOEIUAE\/100087503185269\/?mibextid=LQQJ4d&amp;_rdc=2&amp;_rdr\" style=\"\" rel=\"noopener\">statement<\/a>.<\/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>The<\/strong><strong> G7 summit kicked off yesterday in Italy<\/strong>, and runs through to Saturday, with UAE President Sheikh Mohamed bin Zayed Al Nahyan in attendance. The meeting is set to discuss the situation in the Middle East, as well as the Russia-Ukraine war, climate change, and AI.<\/p>\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>#1-<\/strong> <strong>Agility eyeing ADX-Tadawul dual listing for ADX-listed subsidiary: <\/strong>Kuwaiti <a target=\"_blank\" href=\"https:\/\/www.agility.com\/en\/\" style=\"\" rel=\"noopener\">Agility<\/a> is mulling a dual listing for its ADX-listed subsidiary, Agility Global, on Saudi Arabia\u2019s Tadawul stock exchange, in a move to provide wider investment exposure for its investors, Agility Vice Chairman Tarek Sultan told <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/business\/markets\/2024\/06\/13\/agility-dual-list-saudi-tadawul\/\" style=\"\" rel=\"noopener\">the National,<\/a> revealing that the logistics firm\u2019s board could discuss the dual listing at the board level \u201cin the very near future.\u201d It plans to work with regulators both in the UAE and Saudi Arabia <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This would mark the second ADX-Tadawul listing ever<\/strong>, after Americana <a target=\"_blank\" href=\"https:\/\/www.americanarestaurants.com\/investors\/ipo\/ipo-information-and-documents\/\" style=\"\" rel=\"noopener\">completed<\/a> its own dual listing on the two exchanges in 2022.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Agility Global made its debut via a technical listing on ADX in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/40cd08aa-1d5d-4ea6-a6e3-dfba0d137825\/%253cmark%253eagility%253c%2Fmark%253e%253cmark%253e-global%253c%2Fmark%253e-shares-jump-more-than-four-fold-on-adx-debut\" style=\"\" rel=\"noopener\">May<\/a>. Agility Global\u2019s share price jumped more than fourfold on the first day of trading following its technical listing on ADX. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Saudi bourse is key for exposure:<\/strong> \u201cAt the end of the day, [investors] want exposure to the emerging markets, they want exposure to the big economies of the Middle East, and you can't have that in a fundamental way if you're not present in the Kingdom,\u201d Sultan said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Dubai to keep privatization ball rolling:<\/strong> Dubai is pushing forward with plans to list 10 state-owned companies on the DFM, Dubai International Financial Centre CEO Arid Amiri told <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/ar\/article\/b3n81zj-%D8%B9%D8%A7%D8%B1%D9%81-%D8%A3%D9%85%D9%8A%D8%B1%D9%8A-%D9%86%D9%85%D9%88-%D8%B1%D8%B3%D9%88%D9%85-%D8%A7%D9%84%D8%AE%D8%AF%D9%85%D8%A7%D8%AA-%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D9%88%D8%A3%D8%B5%D8%AD%D8%A7%D8%A8-%D8%A7%D9%84%D8%AB%D8%B1%D9%88%D8%A7%D8%AA\" style=\"\" rel=\"noopener\">Wam<\/a>. Dubai has so far seen six state-owned firms list on the bourse, including <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/de573f5b-c1df-4b13-ba64-58e95fdfcffb\/parkin-share-price-rises-35%2525-on-market-debut\" style=\"\" rel=\"noopener\">most recently<\/a> Parkin. <a target=\"_blank\" href=\"https:\/\/www.dewa.gov.ae\/en\/\" style=\"\" rel=\"noopener\">Dubai Electricity and Water Authority<\/a> (Dewa), utility company <a target=\"_blank\" href=\"https:\/\/mediaoffice.ae\/en\/news\/2022\/November\/15-11\/Empower-debuts-listing-and-trading-of-its-shares-on-the-Dubai-Financial-Market#:~:text=Shares%20began%20trading%20under%20the,Company%20has%20increased%20the%20size\" style=\"\" rel=\"noopener\">Empower<\/a>, business park developer <a target=\"_blank\" href=\"https:\/\/tecomgroup.ae\/press-release-july-1.html\" style=\"\" rel=\"noopener\">Tecom Group<\/a> and road toll operator <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2022\/September\/29-09\/Salik-debuts-listing-and-trading-of-its-shares-on-the-Dubai-Financial-Market\" style=\"\" rel=\"noopener\">Salik<\/a> all went public in 2022, while Dubai Taxi was listed in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/1671.pdf\" style=\"\" rel=\"noopener\">AED 1.2 bn IPO<\/a> in December. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>Dubai announced its plan to list 10 state-backed entities on the Dubai Financial Market (DFM) in <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-11-02\/dubai-plans-to-list-10-state-firms-as-it-seeks-to-join-ipo-boom\" style=\"\" rel=\"noopener\">2021<\/a>, in a bid to double the emirates\u2019 financial market size to AED 3 tn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Construction firm Alec is expected to be the seventh state-owned company to list on the Dubai bourse, having already <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/e2feb924-f76a-4703-af1e-485f9061c6b2\/icd-backed-alec-taps-banks-ahead-of-planned-ipo\" style=\"\" rel=\"noopener\">tapped advisors<\/a> for the IPO.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#5- Drake &amp; Scull is on track to land new projects by August, <\/strong>backed by a clean balance sheet after writing off AED 4 bn in debt and raking in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/39a70cf5-950a-43b1-b6dc-5836b846a059\/drake-&amp;-scull-can-now-relist-on-the-dfm-after-raising-aed-450-mn-in-capital-boost\" style=\"\" rel=\"noopener\">AED 450 mn in fresh capital<\/a>, <a target=\"_blank\" href=\"https:\/\/gulfnews.com\/business\/property\/dubais-drake--scull-targets-new-projects-after-dh4b-debt-waiver-and-new-dh450m-in-bank-1.1718268678652\" style=\"\" rel=\"noopener\">Gulf News<\/a> reports, citing comments made by Vice Chairman Ahmed Kilani during a media briefing. The firm aims to participate in tenders across the GCC \u201cthat can provide [the company] with some double-digit margins,\u201d with the priority being major projects inside the UAE, with plans for \u201cconservative bidding\u201d in other GCC projects. The company aims to gain back the market\u2019s confidence in its rebound \u201cby mid-August 2024, [hoping] to convince everyone that we are back after 5 years,\u201d Kilani said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Drake &amp; Scull will keep pursuing claims exceeding AED 2 bn against its former management, <\/strong>Kilani said, affirming that the contractor is not considering an out of court settlement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER - <\/strong>Drake &amp; Scull completed its restructuring after raising AED 450 mn in a capital increase and resuming trading on the Dubai Financial Market (DFM) on <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/a6b32db8-aa7b-404f-aa69-83403a0c9051\/this-morning:-sidara-makes-final-play-for-wood-group-%2B-president-in-china#:~:text=Drake%20%26%20Scull%20is%20back%20on%20the%20DFM%3A%20Dubai%E2%80%93based%20Drake%20%26%20Scull%20re%2Dlisted%20its%20shares%20on%20the%20Dubai%20Financial%20Market%20(DGF)%20yesterday%20following%20a%20five%2Dyear%20hiatus.%20Shares%20soared%20as%20much%20as%2030%25%20in%20trading%20before%20closing%20up%2024%25%20at%20AED%200.31.\" style=\"\" rel=\"noopener\">29 May<\/a>, following a five-year hiatus. The construction firm\u2019s shares were suspended from trading on the back of excessive financial losses and reporting violations. The restructuring saw the contractor <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#:~:text=Drake%20%26%20Scull%20wraps,and%20shareholders%E2%80%99%20equity.%E2%80%9D\" style=\"\" rel=\"noopener\">write off over AED 4.18 bn<\/a> in accumulated debt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#5- Abu Dhabi sovereign wealth fund Mubadala is mulling the sale of cash-strapped ins. <\/strong><strong>tech startup <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.wefox.com\/\" style=\"\" rel=\"noopener\">Wefox<\/a><\/strong> to Abu Dhabi Investment Authority-backed UK ins. broker <a target=\"_blank\" href=\"https:\/\/www.ardonagh.com\/\" style=\"\" rel=\"noopener\">Ardonagh Group<\/a> that would value it at EUR 550 mn, against the German founders\u2019 wishes, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-13\/mubadala-favors-selling-fintech-wefox-against-founders-wishes\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing a presentation it saw. The startup was <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/33f049b8-2db8-41d4-b8fe-7aa74d9fecff\" style=\"\" rel=\"noopener\">valued at EUR 4.5 bn<\/a> following a Mubadala-led USD 400 mn funding round in 2022. The new proposed transaction would see the startup split into two, with Ardonagh taking over the core of the company and a separate firm comprising Wefox\u2019s tech platform and Swiss business set up and owned by early investors and shareholders.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The founders are pushing for another funding round instead<\/strong>, sources familiar with the matter told the business information service. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mubadala stands to receive double its investment from a sale of the company<\/strong> due to a two-times liquidity preference it had negotiated at the time of its initial investment, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/05aa8bfc-9aa0-474b-8eca-edd0c4383dd3\" style=\"\" rel=\"noopener\">Financial Times<\/a> writes.<\/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>Leading front pages everywhere: <\/strong>Tesla\u2019s shareholders approved a USD 56 bn pay package for founder and CEO Elon Musk, as well as a move of its headquarters from Delaware to Texas (where there are more favorable courts). The vote is considered a huge victory for Musk, who is attempting to overturn a decision by the Delaware court to void a package of options, the largest in US history, which would boost Musk\u2019s stake in the company to 20%, up from 13% currently. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/tesla-live-shareholder-vote-elon-musks-56-billion-pay-2024-06-13\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/1caa4ad2-2ae5-4edd-9920-45f5e0dc7870\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-13\/tesla-vote-results-approve-elon-musk-s-56-billion-pay-deal?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/chancay-peru-port-china-south-america-trade-ffc75d32?mod=hp_lead_pos7\" style=\"\" rel=\"noopener\">WSJ<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/06\/13\/tesla-shareholder-elon-musk-pay-package-at-annual-meeting.html\" style=\"\" rel=\"noopener\">CNBC<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also from the EV world: We\u2019re already seeing the repercussions of the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/5f8d2c50-875c-49b6-b0ca-45aeb30d31a7\/nmc-healthcare-is-eyeing-an-ipo-%2B-more-hedge-funds-plan-expansions-to-abu-dhabi\" style=\"\" rel=\"noopener\">EU\u2019s tariffs on Chinese EVs<\/a><\/strong><strong>. <\/strong>Stellantis is planning to shift production of some of its Chinese-branded electric vehicles to Europe, with CEO Carlos Tavares saying the tariffs will serve to correct a \u201clack of competitiveness\u201d among European EV manufacturers, the Financial Times said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OVER IN PUGLIA- The G7 countries are set to provide Ukraine with USD 50 bn in loans<\/strong> using interest from frozen Russian assets, <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/cf9e7399-84cd-4a26-ab58-663f22256ea1\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- The Trump is once again making headlines,<\/strong> as he makes the rounds in a bid to secure more votes ahead of elections. The former US president returned to Capitol Hill for the first time since the infamous 6 January riot to meet Republicans in a show of unity, <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/c511wrejnpeo\" style=\"\" rel=\"noopener\">BBC<\/a> reported. He also held a business roundtable with CEOs, where he promised to slash taxes and regulations while pushing up tariffs, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/0a661ffb-1b0c-4195-b7cb-98e1f768e0aa\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><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<p class=\"tag-border-left\"> CIRCLE YOUR CALENDAR- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi Global Market will host Abu Dhabi Finance Week from 9-12 December, <\/strong>it said in a <a target=\"_blank\" href=\"https:\/\/www.adgm.com\/media\/announcements\/adfw-to-return-in-december-2024-under-the-patronage-of-hh-sheikh-khaled\" style=\"\" rel=\"noopener\">statement<\/a>. The global finance event will run under the theme \u201cWelcome to the Capital of Capital,\u201d and will focus on Abu Dhabi's position as a financial hub in a bid to attract new firms.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adx\/\">ADX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/drake-scull\/\">Drake &amp; Scull<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ipo-watch\/\">IPO WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/mubadala\/\">Mubadala<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93077\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n    <div class=\"issue-sponsor-slides-div\">\r\n        \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/43010.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.mashreq.com\/en\/uae\/neo\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/20607.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Rise every day<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/43009.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/hap.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/117160.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>From OUR FAMILY to YOURS<\/span>\r\n                <\/div>\r\n            <\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93078\" 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=\"93078\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/14\/cbuae-revises-its-gdp-growth-forecast-for-2024-downward\/\">\r\n                            CBUAE revises its GDP growth forecast for 2024 downward                        <\/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\/14\/cbuae-revises-its-gdp-growth-forecast-for-2024-downward\/\" 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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Growth will \u201cprimarily [come] on the back of strong growth in the non-oil sector,\u201d which it expects to grow 5.4%, the report said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Inflation is expected to come in at 2.3% this year<\/strong><span style=\"background-color: transparent;\">, down from the CBUAE\u2019s previous projection of 2.5% inflation, according to the report.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The CBUAE upgraded its forecast for growth in 2025 to 6.2%,<\/strong> up 1 percentage point from its previous forecast, and supported by a significant increase in oil production following <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/54d158d4-5a72-498f-9604-196685f72a65\/%253cmark%253eopec%253c%2Fmark%253e%2B-extends-supply-cuts,-granting-the-uae-a-higher-production-quota-for-2025\" style=\"\" rel=\"noopener\">OPEC+\u2019s June decision<\/a> to grant the UAE a higher production quota in 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oil output is expected to grow at a marginal 0.3% this year<\/strong>, in line with the supply cut pledges, but is expected to accelerate by 8.4% next year as production levels increase, the CBUAE said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The non-oil sector is poised to remain steady next year with 5.3% growth<\/strong>, on the back of successful reforms and a decline in interest rates expected to boost demand and trigger capital inflows, it said. But there are downside risks, including new supply disruptions due to geopolitical shocks, inflation, as well as a \u201cdeepening of property sector woes in China.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The World Bank had similar 2024 projections: <\/strong>The World Bank also said in its latest forecast <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/fed426d3-64e3-48f2-af73-fc826d9885a4\/uae-economy-to-be-a-top-performer-in-the-gcc-this-year-%25e2%2580%2593world-bank\" style=\"\" rel=\"noopener\">last month<\/a> that the UAE is poised for a 3.9% growth rate in 2024, primarily driven by the oil sector, while the non-oil sector is also expected to demonstrate strong performance across sectors.<\/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\/central-bank-of-the-uae\/\">Central Bank of the UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/economy\/\">Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/gdp\/\">GDP<\/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=\"93080\" 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=\"93080\">\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\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/14\/dubai-accounted-for-more-than-half-of-tech-fdi-into-the-region-last-year-fdi-markets\/\">\r\n                            Dubai accounted for more than half of tech FDI into the region last year \u2013fDI Markets                        <\/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\/14\/dubai-accounted-for-more-than-half-of-tech-fdi-into-the-region-last-year-fdi-markets\/\" 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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Overall, the UAE attracted 257 projects in 2023, making it the top destination for tech investment in the region. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Dubai was followed by Saudi capital Riyadh<\/strong><span style=\"background-color: transparent;\">, which saw FDI channeled into 51 projects, and Abu Dhabi, with 21 projects. Ras Al Khaimah and Sharjah had two projects each.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Middle East stood out as the sole region to record growth in inbound tech FDI projects over the past two years<\/strong>, with 400 projects attracting foreign investments, up 4% y-o-y, compared to a 40% decline in worldwide tech FDI projects during the same period. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More tech FDI incoming: <\/strong>With the Middle East\u2019s digital economy poised to surge 20% to USD 780 bn by 2030, positioning the region among the fastest-growing digital economies globally, according to investment bank <a target=\"_blank\" href=\"https:\/\/www.ubs.com\/qa\/en\/wealth-management\/insights\/2023\/middle-east-the-next-major-digital-frontier.html#:~:text=We%20estimate%20the,like%20the%20US.\" style=\"\" rel=\"noopener\">UBS<\/a>, Rabih Khoury, a partner at Middle East Venture Partners, anticipates a surge in tech investment activity in the upcoming years. The growing tech FDI influx represents only \u201cthe tip of the iceberg,\u201d he said, adding that AI is expected to become the next major tech trend to support the diversification of oil-reliant Middle Eastern economies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Mena region is <\/strong><strong>poised<\/strong><strong> to draw more tech investments on the back of its \u201cfavorable regulations, tax breaks and large sovereign investments<\/strong> into venture capital (VC) funds,\u201d Khoury said. Foreign tech investors have a \u201cbig opportunity\u201d to offer their services to the Middle East, given that other competitors like India and China lag behind in areas such as cloud penetration, said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai\/\">Dubai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/economy\/\">Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment\/\">investment<\/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=\"93082 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=\"93082\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/14\/93082-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93082\" class=\"content-area-description single-story post-93082 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=\"93083\" 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=\"93083\">\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\">Banking<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/14\/bank-investments-reach-a-record-high-in-march\/\">\r\n                            UAE bank investments record AED 664 bn in March                        <\/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\/14\/bank-investments-reach-a-record-high-in-march\/\" 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\/14\/bank-investments-reach-a-record-high-in-march\/')\">\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\/14\/bank-investments-reach-a-record-high-in-march\/\">\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=Bank investments reach a record high in March&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/14\/bank-investments-reach-a-record-high-in-march\/\">\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\/14\/bank-investments-reach-a-record-high-in-march\/&title=Bank investments reach a record high in March\">\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=Bank+investments+reach+a+record+high+in+March+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F14%2Fbank-investments-reach-a-record-high-in-march%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\/14\/bank-investments-reach-a-record-high-in-march\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1929.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93084\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/14\/bank-investments-reach-a-record-high-in-march\/1929-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1929.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1929.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1929.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1929.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93083\" class=\"content-area-description single-story post-93083 post type-post status-publish format-standard has-post-thumbnail hentry category-banking tag-banking tag-central-bank-of-the-uae tag-debt tag-enterpriseam-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.60f2562c-60ee-4b2a-9c44-caf5a7881ac4.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Total bank investments climbed to a high of AED 664.4 bn at the <\/strong><strong>end of <\/strong><strong>March<\/strong>, up from AED 548.5 bn at the end of 2023, according to the Central Bank of the UAE\u2019s (CBUAE) <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1296.pdf\" style=\"\" rel=\"noopener\">banking indicators (pdf)<\/a>. Conventional banks contributed AED 519.6 bn, while Islamic banks\u2019 share amounted to AED 144.8 bn, according to the data. Of the total, national banks booked a total of AED 616 bn, while foreign banks invested some AED 48.1 bn, according to the latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1297.pdf\" style=\"\" rel=\"noopener\">statistics (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">ICYM- Gross credit handed out by UAE banks grew to AED 2.014 tn<\/strong><span style=\"background-color: transparent;\">, according to <\/span><a target=\"_blank\" href=\"http:\/\/enterprise.news\/uae\/en\/news\/story\/c0e67854-f7b0-4da2-b2fe-6c6b786daeb3\/gross-bank-assets-reach-aed-4.25-tn-in-march--cbuae\" rel=\"noopener\">earlier data<\/a><span style=\"background-color: transparent;\"> <\/span><strong style=\"background-color: transparent;\">. <\/strong><span style=\"background-color: transparent;\">Banks\u2019 assets also grew to a record AED 4.255 tn.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Domestic credit rose by 6.1% to AED 1.776 tn, <\/strong>with loans to the private sector accounting for the lion\u2019s share of credit at AED 1.272 tn, posting a 6% growth from the previous year. Loans to the government, on the other hand, fell 12.1% y-o-y to AED 188.3 bn, while loans to government-related entities jumped 21.4% to AED 298 bn. Meanwhile, foreign credit jumped 21.8% y-o-y to AED 270.4 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Conventional banks provided AED 1.611 tn in credit<\/strong>, while the share of Islamic banks was AED 435 bn, CBUAE <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1296.pdf\" style=\"\" rel=\"noopener\">data (pdf)<\/a> showed. National banks issued loans totaling AED 1.88 tn, while foreign lenders handed out AED 166.7 bn of overall credit.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Deposits at banks also grew<\/strong>, with resident deposits rising 16% y-o-y to AED 2.436 tn, while non-resident deposits grew 3.5% y-o-y to AED 220.9 bn. The private sector once again accounted for the lion\u2019s share of deposits, with a total of AED 1.713 tn. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/central-bank-of-the-uae\/\">Central Bank of the UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93085\" 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=\"93085\">\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\">INVESTMENT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/14\/dp-world-eyes-usd-3-bn-in-port-investments-in-africa\/\">\r\n                            DP World eyes USD 3 bn in port investments in Africa                        <\/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\/14\/dp-world-eyes-usd-3-bn-in-port-investments-in-africa\/\" 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\/14\/dp-world-eyes-usd-3-bn-in-port-investments-in-africa\/')\">\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\/14\/dp-world-eyes-usd-3-bn-in-port-investments-in-africa\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=DP World eyes USD 3 bn in port investments in Africa&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/14\/dp-world-eyes-usd-3-bn-in-port-investments-in-africa\/\">\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\/14\/dp-world-eyes-usd-3-bn-in-port-investments-in-africa\/&title=DP World eyes USD 3 bn in port investments in Africa\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=DP+World+eyes+USD+3+bn+in+port+investments+in+Africa+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F14%2Fdp-world-eyes-usd-3-bn-in-port-investments-in-africa%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\/14\/dp-world-eyes-usd-3-bn-in-port-investments-in-africa\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/966.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93086\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/14\/dp-world-eyes-usd-3-bn-in-port-investments-in-africa\/966-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/966.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"966.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/966.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/966.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93085\" class=\"content-area-description single-story post-93085 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-dp-world tag-enterpriseam-uae tag-investment tag-investment-watch tag-logistics wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.54ba105a-fa9e-479c-9245-d94909ca271a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>DP World plans to shell out USD 3 bn on new port infrastructure in Africa over the <\/strong><strong>next three to five years,<\/strong> DP World CEO and Managing Director for sub-Saharan Africa Mohammed Akoojee told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-13\/dp-world-plans-3-billion-investment-in-african-ports-by-2029\" style=\"\" rel=\"noopener\">Bloomberg<\/a> in an interview. The logistics giant is considering investments in the partial privatization of South African rail, port, and pipeline company Transnet, and the port of Lamu in Kenya, where there is also a privatization process underway.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">The rationale:<\/strong><span style=\"background-color: transparent;\"> The investment target comes on the back of the region\u2019s long-term growth potential, Akoojee said, adding that \u201cthe cost of logistics and supply chain across Africa is very high relative to other global markets.\u201d Heightened demand for critical minerals also signals the need for greater logistics capacity. \u201cWe\u2019ve seen demand increasing over the last few years, largely driven by the whole electrification drive globally and the demand for commodities like cobalt, lithium,\u201d Akoojee added.<\/span><\/p>\n<p class=\"tag-border-left\">OTHER INVESTMENT NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Brookfield Asset Management eyes USD 5 bn first close for climate fund: <\/strong>Canada\u2019s Brookfield Asset Management aims to raise USD 5 bn for the UAE-backed Catalytic Transition Fund (CTF) to boost climate finance in emerging markets as part of its first close before the end of the year, it said in a <a target=\"_blank\" href=\"https:\/\/bam.brookfield.com\/press-releases\/brookfield-opens-fundraising-catalytic-transition-fund-anchor-commitment-alterra\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. The Catalytic Transition Fund (CTF) is anchored by a USD 1 bn commitment from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/903e6d02-4d23-4ff4-8e58-9ea7d4ce54df\/picking-up-where-cop27-left-off\" style=\"\" rel=\"noopener\">Alterra fund<\/a> set up by the UAE during Cop28. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know: <\/strong>Brookfield will contribute at least 10% of the capital. Alterra recently said it will direct an extra USD 200 bn to investments over the next six years, after saying it aims to mobilize USD 250 bn in green investments by 2030.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the fund<\/strong>: The USD 30 bn vehicle was launched last year to increase climate funding for the Global South. Alterra\u2019s initial commitment \u2014 along with BlackRock, Brookfield, and TPG \u2014 was USD 6.5 bn to climate-dedicated funds.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dp-world\/\">DP World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment\/\">investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93087\" 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=\"93087\">\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\">INVESTMENT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/14\/shorooq-partners-backs-turkish-telecom-startup-with-usd-5-mn-investment\/\">\r\n                            Shorooq Partners backs Turkish telecom startup with USD 5 mn investment                        <\/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\/14\/shorooq-partners-backs-turkish-telecom-startup-with-usd-5-mn-investment\/\" 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\/14\/shorooq-partners-backs-turkish-telecom-startup-with-usd-5-mn-investment\/')\">\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\/14\/shorooq-partners-backs-turkish-telecom-startup-with-usd-5-mn-investment\/\">\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=Shorooq Partners backs Turkish telecom startup with USD 5 mn investment&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/14\/shorooq-partners-backs-turkish-telecom-startup-with-usd-5-mn-investment\/\">\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\/14\/shorooq-partners-backs-turkish-telecom-startup-with-usd-5-mn-investment\/&title=Shorooq Partners backs Turkish telecom startup with USD 5 mn investment\">\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=Shorooq+Partners+backs+Turkish+telecom+startup+with+USD+5+mn+investment+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F14%2Fshorooq-partners-backs-turkish-telecom-startup-with-usd-5-mn-investment%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\/14\/shorooq-partners-backs-turkish-telecom-startup-with-usd-5-mn-investment\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/635.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93088\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/14\/shorooq-partners-backs-turkish-telecom-startup-with-usd-5-mn-investment\/635-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/635.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"635.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/635.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/635.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93087\" class=\"content-area-description single-story post-93087 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-enterpriseam-uae tag-investment-watch tag-shorooq-partners tag-startup tag-telecoms wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.b17f6b37-85f2-4017-b00b-1dda6f9d0eec.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Venture capital firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.shorooq.com\/\" style=\"\" rel=\"noopener\">Shorooq Partners<\/a><\/strong><strong> invested USD 5 mn in Turkish and <\/strong><strong>US-based telecom startup <\/strong><strong><a target=\"_blank\" href=\"https:\/\/roamless.com\/\" style=\"\" rel=\"noopener\">Roamless\u2019<\/a><\/strong><strong> seed round<\/strong>, alongside Revo Capital, Paribu Ventures, Finberg, and Deba Ventures, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1318.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The investment in Roamless \u2014 which has a leadership team posted in Turkey \u2014 marks Shorooq\u2019s first in Turkey.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">What they said: <\/strong><span style=\"background-color: transparent;\">\u201cRoamless's innovative approach to connectivity aligns with our vision of fostering ventures that redefine traditional models. This investment reflects our confidence in Roamless's potential and our commitment to nurturing T\u00fcrkiye's burgeoning tech ecosystem,\u201d said Shorooq founding partner Mahmoud Adi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Roamless:<\/strong> Roamless specializes in travel connectivity, offering internet and international calling across 150 countries with eSIM technology and pay-as-you-go model. The company has attracted some 100k users since its public beta launch in October 2023.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/shorooq-partners\/\">Shorooq Partners<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/startup\/\">startup<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/telecoms\/\">telecoms<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93089\" 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=\"93089\">\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\">STARTUP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/14\/qstay-closes-usd-4-6-mn-pre-series-a-round\/\">\r\n                            UAE-based hospitality platform closes USD 4.6 mn pre-series A 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\/14\/qstay-closes-usd-4-6-mn-pre-series-a-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\/14\/qstay-closes-usd-4-6-mn-pre-series-a-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\/14\/qstay-closes-usd-4-6-mn-pre-series-a-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=Qstay closes USD 4.6 mn pre-series A round&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/14\/qstay-closes-usd-4-6-mn-pre-series-a-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\/14\/qstay-closes-usd-4-6-mn-pre-series-a-round\/&title=Qstay closes USD 4.6 mn pre-series A 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=Qstay+closes+USD+4.6+mn+pre-series+A+round+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F14%2Fqstay-closes-usd-4-6-mn-pre-series-a-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\/14\/qstay-closes-usd-4-6-mn-pre-series-a-round\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1621.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93090\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/14\/qstay-closes-usd-4-6-mn-pre-series-a-round\/1621-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1621.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1621.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1621.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1621.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93089\" class=\"content-area-description single-story post-93089 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-ai tag-enterpriseam-uae tag-hospitality 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\/.e3937833-41aa-44f7-8b89-d93ee4255360.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Qstay closes USD 4.6 mn pre-series A round: <\/strong>Dubai-based hospitality platform <a target=\"_blank\" href=\"https:\/\/www.qstay.ae\/\" style=\"\" rel=\"noopener\">Qstay<\/a> secured USD 4.6 mn in pre-series A funding round, according to a <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2024\/06\/qstay-secures-4-6-million-pre-series-round\" style=\"\" rel=\"noopener\">press release<\/a>. The funding was raised through a combination of conventional and convertible debt. The startup raised USD 6.5 mn in a previous debt and equity seed round in 2022, bringing the total amount secured in funding to USD 11.1 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Where will the money go?<\/strong><span style=\"background-color: transparent;\"> \u201cThe new funding will enable Qstay to accelerate its growth and continue to innovate in the hospitality sector,\u201d the press release reads.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the startup:<\/strong> Founded by Artur Khayrullin (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/arturkhayrullin109261174\/?original_referer=https%3A%2F%2Fwww%2Egoogle%2Ecom%2F&amp;originalSubdomain=ae\" style=\"\" rel=\"noopener\">Linkedin<\/a>), Ekaterina Rogozhina, Alec Fesenko and Natalya Fesenko, in 2020, Qstay is a hospitality and rental investment property management platform that integrates AI-powered customer service and digital concierge services. The startup is projecting some USD 63 mn in revenues by 2025, according to the press release, and currently operates over 300 properties across nine markets in four countries, with plans for further expansion into additional markets between 2024 and 2026. <\/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\/hospitality\/\">hospitality<\/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=\"93091\" 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=\"93091\">\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\">KUDOS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/14\/uae-leads-forbes-list-of-the-regions-top-100-listed-firms\/\">\r\n                            UAE leads Forbes\u2019 list of the region\u2019s top 100 listed firms  + bags two awards for its sustainability projects                        <\/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\/14\/uae-leads-forbes-list-of-the-regions-top-100-listed-firms\/\" 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\/14\/uae-leads-forbes-list-of-the-regions-top-100-listed-firms\/')\">\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\/14\/uae-leads-forbes-list-of-the-regions-top-100-listed-firms\/\">\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 leads Forbes\u2019 list of the region\u2019s top 100 listed firms&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/14\/uae-leads-forbes-list-of-the-regions-top-100-listed-firms\/\">\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\/14\/uae-leads-forbes-list-of-the-regions-top-100-listed-firms\/&title=UAE leads Forbes\u2019 list of the region\u2019s top 100 listed firms\">\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+leads+Forbes%E2%80%99+list+of+the+region%E2%80%99s+top+100+listed+firms+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F14%2Fuae-leads-forbes-list-of-the-regions-top-100-listed-firms%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\/14\/uae-leads-forbes-list-of-the-regions-top-100-listed-firms\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1303.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93092\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/14\/uae-leads-forbes-list-of-the-regions-top-100-listed-firms\/1303-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1303.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1303.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1303.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1303.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93091\" class=\"content-area-description single-story post-93091 post type-post status-publish format-standard has-post-thumbnail hentry category-kudos tag-enterpriseam-uae tag-forbes tag-kudos tag-masdar tag-roads-and-transport-authority 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\/.8d65eeb2-4786-40a0-b4a3-7dc1e7695552.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #1- The UAE dominated <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-100-listed-companies-2024\/\" style=\"\" rel=\"noopener\">Forbes\u2019 top 100 listed companies<\/a><\/strong><strong> ranking this year, <\/strong>with 32 companies securing positions among the Middle East\u2019s top firms in terms of sales, assets, and profitability. This year\u2019s list welcomed four new Emirati entrants: <strong>Adnoc Gas<\/strong>, <strong>Borouge<\/strong>, <strong>PureHealth<\/strong>, and <strong>Adnoc Logistics &amp; Services<\/strong>. Abu Dhabi conglomerate <strong>International Holding Company<\/strong> (IHC) climbed two places from last year, securing the third spot on the list. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Other Emirati firms that made the cut in the top 30: <\/strong><\/p>\n<ul>\n<li><strong>First Abu Dhabi Bank <\/strong>(FAB) ranked fifth; <\/li>\n<li><strong>Emirates NBD <\/strong>ranked sixth;<\/li>\n<li><strong>Taqa Group <\/strong>secured eighth position;<\/li>\n<li><strong>Adnoc Gas<\/strong>claimed the 12th spot;<\/li>\n<li><strong>e&amp; <\/strong>came in 13th place;<\/li>\n<li><strong>ADCB Group<\/strong> secured the 14th position;<\/li>\n<li><strong>Alpha Dhabi Holding<\/strong> ranked 15th;<\/li>\n<li><strong>Dubai Electricity and Water Authority<\/strong> came in 18th place;<\/li>\n<li><strong>Emaar Properties <\/strong>secured the 20th spot;<\/li>\n<li><strong>Dubai Islamic Bank<\/strong> (DIB) ranked 21st; <\/li>\n<li>Our friends at <strong>Mashreq <\/strong>secured the 23rd place;<\/li>\n<li><strong>Abu Dhabi Islamic Bank<\/strong> (ADIB) ranked 27th; <\/li>\n<li><strong>Aldar Properties <\/strong>was in 30th place.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">#2- The UAE was recognized for its efforts in promoting sustainable development,<\/strong><span style=\"background-color: transparent;\"> securing the first place in the economic category of the <\/span><a target=\"_blank\" href=\"https:\/\/sdgs.un.org\/SIDSPartnershipsAwards\" rel=\"noopener\">Small Island Developing States Partnerships Awards<\/a><span style=\"background-color: transparent;\"> for its UAE-Pacific Partnership Fund and UAE-Caribbean Renewable Energy Fund, according to a <\/span><a target=\"_blank\" href=\"https:\/\/www.mofa.gov.ae\/en\/mediahub\/news\/2024\/6\/8\/8-6--2024-uae-awards\" rel=\"noopener\">statement<\/a><span style=\"background-color: transparent;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the funds:<\/strong> Both established through partnerships between Abu Dhabi Fund for Development (ADFD) and Masdar, the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1284.pdf\" style=\"\" rel=\"noopener\">UAE-Pacific Partnership Fund (pdf)<\/a> was launched in 2013 with an investment of USD 50 mn from ADFD to develop solar and wind projects across Pacific Island nations, while the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/899.pdf\" style=\"\" rel=\"noopener\">UAE-Caribbean Renewable Energy Fund (pdf)<\/a> was launched in 2017 with a USD 50 mn grant from ADFD to support renewable energy efforts across Caribbean Island countries. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Al Ansari Financial Services was recognized as the best financial institution IPO<\/strong> in the Europe, Middle East, and Africa region for 2023 by <a target=\"_blank\" href=\"https:\/\/www.emeafinance.com\/live\/\" style=\"\" rel=\"noopener\">EMEA Finance<\/a>, according to a company <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1277.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The award came in recognition of strong investor demand surrounding its <a target=\"_blank\" href=\"https:\/\/alansariexchange.com\/news\/al-ansari-financial-services-successfully-completes-ipo-raising-aed-773-million-with-total-demand-for-the-shares-on-offer-surpassing-aed-12-7-billion\/\" style=\"\" rel=\"noopener\">IPO<\/a> in 2023, which raised AED 773 bn and drew AED 12.7 bn in orders. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Abu Dhabi\u2019s<\/strong> <strong>Masdar City received the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/wiredscore.com\/\" style=\"\" rel=\"noopener\">WiredScore<\/a><\/strong><strong> Platinum and <\/strong><strong><a target=\"_blank\" href=\"https:\/\/wiredscore.com\/certify-a-building\/smartscore\/\" style=\"\" rel=\"noopener\">SmartScore<\/a><\/strong><strong> gold <\/strong><strong>certifications <\/strong>for its upcoming developments, Masdar City Square and The Link, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b3lfzd7-masdar-citys-upcoming-developments-achieve\" style=\"\" rel=\"noopener\">Wam<\/a> reports. WiredScore and SmartScore are global benchmarks that assess and certify digital connectivity and smart technology in homes and buildings, according to the WiredScore website.<\/p>\n<p class=\"tag-border-left\"> MORE KUDOS-<\/p>\n<ul>\n<li><strong>AD Ports\u2019 <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.adports.ae\/ports-terminals\/commercial-ports\/sila-port\/\" style=\"\" rel=\"noopener\">Sila<\/a><\/strong><strong> and <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.adports.ae\/ports-terminals\/community-ports\/mirfa-port\/\" style=\"\" rel=\"noopener\">Mirfa<\/a><\/strong><strong> harbors<\/strong> received the <strong>5 Gold Anchors award <\/strong>for \u201coperational excellence\u201d from <a target=\"_blank\" href=\"https:\/\/www.tyha.co.uk\/\" style=\"\" rel=\"noopener\">The Yacht Harbour Association<\/a>. (<a target=\"_blank\" href=\"https:\/\/www.adportsgroup.com\/en\/news-and-media\/2024\/06\/13\/sila-and-mirfa-community-harbours-achieve-prestigious-5-gold-anchors\" style=\"\" rel=\"noopener\">Statement<\/a>)<\/li>\n<li><strong>The Roads and Transport Authority (RTA) handed Abu Dhabi\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/admobility.gov.ae\/en\/home\" style=\"\" rel=\"noopener\">Integrated<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/admobility.gov.ae\/en\/home\" style=\"\" rel=\"noopener\">Transport Centre<\/a><\/strong><strong> an award <\/strong>for its efforts in boosting traffic safety for delivery motorbikes and another for its autonomous mobility project, Leading the Way. (<a target=\"_blank\" href=\"https:\/\/www.rta.ae\/wps\/portal\/rta\/ae\/home\/news-and-media\/all-news\/NewsDetails\/ahmed-bin-mohammed-honours-winners-of-13th-dubai-award-for-sustainable-transport\" style=\"\" rel=\"noopener\">Statement<\/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\/forbes\/\">Forbes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/kudos\/\">KUDOS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/masdar\/\">Masdar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/roads-and-transport-authority\/\">Roads and Transport Authority<\/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=\"93093\" 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=\"93093\">\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\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/14\/fab-appoints-two-new-chiefs\/\">\r\n                            FAB appoints two new chiefs                        <\/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\/14\/fab-appoints-two-new-chiefs\/\" 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\/14\/fab-appoints-two-new-chiefs\/')\">\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\/14\/fab-appoints-two-new-chiefs\/\">\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=FAB appoints two new chiefs&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/14\/fab-appoints-two-new-chiefs\/\">\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\/14\/fab-appoints-two-new-chiefs\/&title=FAB appoints two new chiefs\">\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=FAB+appoints+two+new+chiefs+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F14%2Ffab-appoints-two-new-chiefs%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\/14\/fab-appoints-two-new-chiefs\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/25.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93094\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/14\/fab-appoints-two-new-chiefs\/25-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/25.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"25.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/25.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/25.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93093\" class=\"content-area-description single-story post-93093 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam-uae tag-fab tag-first-abu-dhabi-bank 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\/.a2832e5f-d04d-4919-88d4-ad2c0d01f5bb.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>First Abu Dhabi Bank (FAB)<\/strong> appointed <strong>Simon Thorn<\/strong> (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/simon-thorn-60409b150\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as group <strong>chief<\/strong><strong> compliance officer<\/strong>, tasked with overseeing regulatory compliance, anti-money laundering, and financial crime policies and procedures, according to a company <a target=\"_blank\" href=\"https:\/\/www.bankfab.com\/en-ae\/about-fab\/group\/in-the-media\/fab-strengthens-leadership-team-with-two-new-appointments\" style=\"\" rel=\"noopener\">statement<\/a>. Thorn previously held senior roles at Merrill Lynch, Nomura, and the UK Financial Services Authority. He also acted as chief compliance officer at Barclays Bank, before joining FAB in 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">FAB <\/strong><span style=\"background-color: transparent;\">also tapped<\/span><strong style=\"background-color: transparent;\"> Neil Barrable<\/strong><span style=\"background-color: transparent;\"> (<\/span><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/neil-barrable-4141801\/?originalSubdomain=ae\" rel=\"noopener\">LinkedIn<\/a><span style=\"background-color: transparent;\">) as its <\/span><strong style=\"background-color: transparent;\">executive committee\u2019s chief credit officer<\/strong><span style=\"background-color: transparent;\">. Barrable boasts over 30 years of experience in credit and related functions, including serving as managing director and global head of wholesale credit and lending at HSBC in London. Barrable also held senior executive positions at JP Morgan, Barclays Capital, and Deutsche Bank in the Asia Pacific region. He replaces Rajesh Deshpande (<\/span><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/rajesh-deshpande-531bb35\/?originalSubdomain=ae\" rel=\"noopener\">LinkedIn<\/a><span style=\"background-color: transparent;\">), who will now serve as FAB\u2019s chief strategic business initiatives officer and head of capital portfolio management.<\/span><\/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\/fab\/\">FAB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/first-abu-dhabi-bank\/\">First Abu Dhabi Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93095\" 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=\"93095\">\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\">UAE IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/14\/wynn-resorts-casino-sparks-construction-boom-in-rak\/\">\r\n                            Wynn Resorts\u2019 casino sparks construction boom in RAK                        <\/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\/14\/wynn-resorts-casino-sparks-construction-boom-in-rak\/\" 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\/14\/wynn-resorts-casino-sparks-construction-boom-in-rak\/')\">\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\/14\/wynn-resorts-casino-sparks-construction-boom-in-rak\/\">\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=Wynn Resorts\u2019 casino sparks construction boom in RAK&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/14\/wynn-resorts-casino-sparks-construction-boom-in-rak\/\">\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\/14\/wynn-resorts-casino-sparks-construction-boom-in-rak\/&title=Wynn Resorts\u2019 casino sparks construction boom in RAK\">\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=Wynn+Resorts%E2%80%99+casino+sparks+construction+boom+in+RAK+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F14%2Fwynn-resorts-casino-sparks-construction-boom-in-rak%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\/14\/wynn-resorts-casino-sparks-construction-boom-in-rak\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1319.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93096\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/14\/wynn-resorts-casino-sparks-construction-boom-in-rak\/1319-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1319.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1319.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1319.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1319.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93095\" class=\"content-area-description single-story post-93095 post type-post status-publish format-standard has-post-thumbnail hentry category-uae-in-the-news tag-enterpriseam-uae tag-gold tag-ras-al-khaimah tag-trade 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\/.f3b80942-7f3c-4e59-9a36-0531e578efca.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wynn Resorts\u2019 USD 4 bn project on the Marjan Islands in Ras Al Khaimah has sparked a <\/strong><strong>construction boom in the emirate<\/strong>, transforming the once-quiet area into a bustling development hub, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/features\/2024-06-13\/uae-s-wynn-casino-near-dubai-sparks-boom-in-marjan-islands-of-rak\" style=\"\" rel=\"noopener\">Bloomberg<\/a> writes. The new projects, driven by anticipation of Wynn's casino and resort, aim to attract mns of visitors and significantly boost the local economy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PLUS:<\/strong> <strong>US\u2019 sanctions against <\/strong><strong>several Hong Kong and UAE firms<\/strong> for trade in gold produced by a Russian miner got ink in <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/us-imposes-sanctions-several-hong-kong-uae-firms-dealing-with-russian-origin-2024-06-12\/\" style=\"\" rel=\"noopener\">Reuters<\/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\/gold\/\">gold<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ras-al-khaimah\/\">Ras Al Khaimah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/trade\/\">trade<\/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=\"93097\" 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=\"93097\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/14\/new-jv-eyes-usd-400-mn-retail-investments\/\">\r\n                            New JV eyes USD 400 mn retail investments                        <\/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\/14\/new-jv-eyes-usd-400-mn-retail-investments\/\" 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 new investment entity plans to invest USD 400 mn in Dubai retail projects, alongside further investments in the emirate\u2019s real estate sector. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> CAPITAL MARKETS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FX trader BDSwiss received an operational license from the Securities & Commodities<\/strong><strong> Authority<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/global.bdswiss.com\/company-news\/bdswiss-secures-prestigious-uaes-sca-licence\/\" style=\"\" rel=\"noopener\">company statement<\/a>. The regulatory approval authorizes BDSwiss to operate within the UAE, offering its clients its financial products and services, including FX trading, contract for differences, and other investment 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\"> FINANCE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- London-based net-asset-value (NAV) lender <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.google.com\/aclk?sa=l&ai=DChcSEwiIwNyAudiGAxWcEQYAHRBwDpUYABAAGgJ3cw&ase=2&gclid=Cj0KCQjwsaqzBhDdARIsAK2gqne29EnlOBQcgtqWa10RI2j79CvVyjoNarPE1uSpqECQj9FGgD4ECTAaAmYqEALw_wcB&sig=AOD64_1A_hKG3IIT2esYMvtcqwMs5OUB5Q&q&nis=4&adurl&ved=2ahUKEwjV4NaAudiGAxX_SaQEHWvuAr0Q0Qx6BAgFEAE\" style=\"\" rel=\"noopener\">17Capital<\/a><\/strong><strong> secured approvals to<\/strong><strong> set up<\/strong><strong> shop in <\/strong><strong>Dubai<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-13\/oaktree-backed-nav-lender-17capital-to-expand-into-dubai\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing an unnamed representative for the firm. The Oaktree Capital Management-backed firm\u2019s operations in the region will be led by its senior investment director Pierre Garnier (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/pgpierregarnier\/?originalSubdomain=uk\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), and will seek to capitalize on the growing NAV lending in the Middle East.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- The UAE likes NAV financing: <\/strong>An Abu Dhabi Investment Authority wholly-owned subsidiary signed on as an anchor investor for European private credit manager <a target=\"_blank\" href=\"https:\/\/pembertonam.com\/\" style=\"\" rel=\"noopener\">Pemberton Asset Management\u2019s<\/a> new NAV strategic financing strategy <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/122be706-0544-46d3-876d-dcaff4de0526\/adia-to-anchor-european-private-credit-fund\" style=\"\" rel=\"noopener\">earlier this month<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Uh, Enterprise, what\u2019s NAV financing? <\/strong>NAV loans \u2014 which leverage investment portfolios to access financing \u2014 are a non-dilutive tool that can boost liquidity for an illiquid fund, especially at later stages in its cycle. This form of financing is becoming increasingly popular among private equity players as traditional forms of capital-raising become harder to access.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The Abu Dhabi Global Market Academy inked an MoU with event management firm<\/strong> <strong><a target=\"_blank\" href=\"https:\/\/ethara.com\/\" style=\"\" rel=\"noopener\">Ethara<\/a><\/strong><strong> to develop local Emirati talent<\/strong> by providing upskilling training programmes, a <a target=\"_blank\" href=\"https:\/\/www.adgm.com\/media\/announcements\/adgm-academy-and-ethara-sign-an-mou-to-develop-next-gen-emirati-talent\" style=\"\" rel=\"noopener\">press release<\/a> reads. <\/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\">TELECOMS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sharjah has a new communications technology authority: <\/strong>Sharjah Ruler Sheikh Sultan bin Muhammad Al Qasimi issued a decree yesterday establishing the Sharjah Communication Technologies Authority (SCTA), <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3n8a0w-sharjah-ruler-issues-emiri-decree-establishing\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The new authority will regulate all services related to the telecommunications sector, communication technologies, infrastructure, data centers, and marine and land installations in the emirate, and roll out comprehensive strategic plans, legislation, and projects to advance the sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Organizational structure: <\/strong>The SCTA will be managed by Sharjah Deputy Ruler Sheikh Sultan bin Ahmed bin Sultan Al Qasimi \u2014 who was <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3n8a9k-sharjah-ruler-appoints-sultan-bin-ahmed-chairman\" style=\"\" rel=\"noopener\">appointed as chairman<\/a> \u2014 and a director appointed by the council. The director \u2014 who will be responsible for organizing the authority\u2019s administrative and financial matters \u2014 will work under the supervision of the chairman.<\/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\"> HOUSING-<\/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 Al Nahyan approved the<\/strong><strong> allocation of AED 3.31 bn in housing benefits for over 2k Abu Dhabi citizens,<\/strong> bringing the total housing benefits disbursed by the Abu Dhabi Housing Authority to over AED 152 bn, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3n89pc-abu-dhabi-crown-prince-approves-disbursement\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The benefits include 782 loans worth AED 3.05 bn for some 1.8k citizens for residential units in the Balghaiylam residential project, and AED 262.8 mn in loan exemptions for 249 senior citizens, low-income retirees, and families of deceased citizens.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">TECH- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Altair sets up Dubai office:<\/strong> Computational intelligence firm <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&l=en&o=4188559-1&h=3642271602&u=https%3A%2F%2Fc212.net%2Fc%2Flink%2F%3Ft%3D0%26l%3Den%26o%3D4188559-1%26h%3D4110801640%26u%3Dhttp%253A%252F%252Fwww.altair.com%252F%26a%3Dwww.altair.com&a=www.altair.com\" style=\"\" rel=\"noopener\">Altair<\/a> established its new regional office at the Dubai World Trade Centre to expand its outreach and provide its tech products to GCC customers, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/altair-establishes-new-office-in-dubai-united-arab-emirates-vmnezx8h\" style=\"\" rel=\"noopener\">press release<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Dubai Electricity and Water Authority\u2019s (Dewa) digital arm, InfraX, partnered with<\/strong><strong> Nokia to support Dewa\u2019s systems with advanced network solutions<\/strong>, a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/infrax-partners-with-nokia-to-pioneer-cutting-edge-networking-solutions-in-the-uae-r5kp7c13\" style=\"\" rel=\"noopener\">press release<\/a> reads. <\/p>\n<p class=\"tag-border-left\"> FINTECH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Dubai-based fintech <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.fuse.me\/\" style=\"\" rel=\"noopener\">Fuse Finance<\/a><\/strong><strong> secured a Dubai International Financial Centre <\/strong><strong>(DIFC) license<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.tradearabia.com\/news\/BANK_423177.html\" style=\"\" rel=\"noopener\">Trade Arabia<\/a> reports. The license will allow the company to launch products for customers through their virtual IBANs, as well as infrastructure for domestic and international payments. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> BUSINESS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Abu Dhabi, Angola to boost trade: <\/strong>The Abu Dhabi Chamber of Commerce and Industry inked an agreement with the Angola-UAE Chamber of Commerce and Industry to ramp up economic and commercial cooperation, focusing on creating investment windows for business-people, entrepreneurs, and investors in both countries, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/government-news\/abu-dhabi-chamber-signs-cooperation-agreement-with-the-angola-uae-chamber-szedbmn2\" style=\"\" rel=\"noopener\">press release<\/a>. The agreement will see the two conduct joint studies and swap economic data on investment windows, exchange trade delegations, and organize joint business events in both countries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Dubai Chambers and the Australian Chamber of Commerce and Industry have<\/strong> <strong>partnered to support the development of economic and trade relations<\/strong> between Dubai and Australia, a <a target=\"_blank\" href=\"https:\/\/www.dubaichambers.com\/en\/news\/dubai-chambers-signs-mou-with-australian-chamber-of-commerce-and-industry-to-boost-economic-and-investment-ties\/\" style=\"\" rel=\"noopener\">press release<\/a> reads. The MoU focuses on data sharing, research cooperation, and strengthening business partnerships, aiming to boost bilateral trade and investments.<\/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>Expo City Dubai awarded four contracts for Mangrove Residences to three UAE<\/strong> <strong>companies and one international firm<\/strong>, with completion expected by early 2026, a <a target=\"_blank\" href=\"https:\/\/www.expocitydubai.com\/en\/media-centre\/expo-city-dubai-awards-four-key-contracts-for-mangrove-residences-as-project\/\" style=\"\" rel=\"noopener\">press release<\/a> reads. The developer contracted India\u2019s <a target=\"_blank\" href=\"https:\/\/www.shapoorjipallonji.com\/\" style=\"\" rel=\"noopener\">Shapoorji Pallonji<\/a> for construction, <a target=\"_blank\" href=\"https:\/\/usfme.com\/\" style=\"\" rel=\"noopener\">USF<\/a> for demolition, <a target=\"_blank\" href=\"https:\/\/proscapeuae.com\/infrastructure\/\" style=\"\" rel=\"noopener\">Proscape<\/a> for infrastructure and clearance works, <a target=\"_blank\" href=\"https:\/\/www.ifguae.com\/\" style=\"\" rel=\"noopener\">IFG<\/a> for foundational works. <\/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>Emirates airlines was fined USD 1.8 mn by the US<\/strong> for operating flights in Iraqi airspace under a codeshare agreement with US airline JetBlue between 2021 and 2022, the US Transport Department said in a <a target=\"_blank\" href=\"https:\/\/www.transportation.gov\/briefing-room\/usdot-fines-emirates-nearly-2-million-operating-flights-carrying-us-carriers-code\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> AUTOMOTIVE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bayanat partners with Oxa to advance autonomous driving:<\/strong> G42 subsidiary and geospatial services provider Bayanat partnered with autonomous vehicle software company <a target=\"_blank\" href=\"https:\/\/oxa.tech\/\" style=\"\" rel=\"noopener\">Oxa<\/a>, to develop autonomous vehicle solutions in the UAE and beyond, according to a Bayanat <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1298.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The agreement will see them study the establishment of an autonomous mobility center of excellence, as well as hiring and training workers in software, hardware, operations, and data. <\/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\/artificial-intelligence\/\">artificial intelligence<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/business\/\">business<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a 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-->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"93099\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/14\/us-equities-to-continue-positive-streak-through-the-end-of-the-year-jpmorgan\/\">\r\n                            US equities to continue positive streak through the end of the year \u2013JPMorgan                        <\/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    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<\/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\/14\/us-equities-to-continue-positive-streak-through-the-end-of-the-year-jpmorgan\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2323.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93100\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/14\/us-equities-to-continue-positive-streak-through-the-end-of-the-year-jpmorgan\/2323-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2323.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2323.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2323.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2323.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93099\" class=\"content-area-description single-story post-93099 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-equities tag-jpmorgan tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.379298a8-c4f0-467d-b41a-c1192c9da2f9.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>JPMorgan Asset Management sees US stocks continuing their positive streak well into <\/strong><strong>2H 2024 <\/strong>amid solid earnings and expectations of lower interest towards the end of the year, the firm wrote in its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1315.pdf\" style=\"\" rel=\"noopener\">mid-year outlook report (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Where it sees the most returns: <\/strong><span style=\"background-color: transparent;\">Fixed income bonds and large-cap stocks.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Yes, but: <\/strong>The firm is not too optimistic about medium-term returns, cautioning investors to \u201cremain humble\u201d while interest rates, valuations, and stock-bond correlations all fluctuate amid relative uncertainty. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US benchmarks are near a record high<\/strong>, driven by rallying AI stocks like Nvidia and Microsoft, and traders\u2019 expectations for lower interest rates. The one positive about the rally? It\u2019s well-dispersed, with shares across sectors seeing a boost in valuation as earnings recover across sectors, JPMorgan says. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There are still risks, but JPMorgan views them to be modest. <\/strong>Economic headwinds amid ongoing geopolitical tensions, and uncertainty around the future AI, are viewed as the biggest risks. <\/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 mostly in the red<\/strong> as traders await Bank of Japan\u2019s interest rate decision later today. Meanwhile, Wall Street futures are little changed after another record close for the S&amp;P 500 and Nasdaq. <\/p>\n<p><a target=\"_blank\" id=\"t.abd82735b1a799375383d6338ae5c5e2186f7faa\" 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-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>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,978.8<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6% (YTD: -6.3%)<\/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>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3,980.1<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"> 0.0% (YTD: -1.96%)<\/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\">3371.5<\/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: -12.3%)<\/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-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>EIBOR<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.2% o\/n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.4% 1 yr<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;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\">11,498.9<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.3% (YTD: -3.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">26,417.6<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.1% (YTD: +6.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,433.7<\/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: 13.92%)<\/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\">8,163.7<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: 5.57%)<\/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\">4,935.5<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2% (YTD: 9.16%)<\/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 82.75<\/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%<\/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 <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.92<\/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\">-1.2%<\/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 2,318.9<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.04%<\/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 66,933.5<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.9% (YTD: 58.3%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ADX rose 0.6% yesterday<\/strong> on turnover of AED 996.6 mn. The index is down 6.3% 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>Hayah Insurance Company (+9.7%), Abu Dhabi National Company for Building Materials (+8.3%) and Waha Company (+4%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Gulf Cement Company (-7.8%), E7 Group Warrants (-4.3%) and E7 Group (-4.2%). <\/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 0.02% on turnover of AED 211.9 mn. Meanwhile Nasdaq Dubai closed up 0.2%.<\/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\/equities\/\">equities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/jpmorgan\/\">JPMorgan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93101\" 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=\"93101\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/14\/boosting-trade-with-oci-states-anti-money-laundering-efforts-with-morocco\/\">\r\n                            Boosting trade with OCI states + anti-money laundering efforts with Morocco                        <\/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 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  <\/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\/14\/boosting-trade-with-oci-states-anti-money-laundering-efforts-with-morocco\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1316.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93102\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/14\/boosting-trade-with-oci-states-anti-money-laundering-efforts-with-morocco\/1316-jpeg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1316.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1316.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1316.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1316.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93101\" class=\"content-area-description single-story post-93101 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-brics tag-diplomacy tag-education tag-enterpriseam-uae tag-trade 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\/.7f2851bc-4fdd-468a-bc25-88808da0d3fd.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>International Trade Affairs Assistant Undersecretary Juma Mohammed Al Kait <\/strong><strong>discussed strengthening economic and trade cooperation <\/strong>with Organization of the Islamic Cooperation member states latest ministerial meeting of the Standing Committee for Economic and Commercial Cooperation of the OIC, and called for activating trade cooperation mechanisms, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/ar\/article\/b3n81zo-%25D8%25A7%25D9%2584%25D8%25A5%25D9%2585%25D8%25A7%25D8%25B1%25D8%25A7%25D8%25AA-%25D8%25AA%25D8%25A4%25D9%2583%25D8%25AF-%25D8%25AD%25D8%25B1%25D8%25B5%25D9%2587%25D8%25A7-%25D8%25B9%25D9%2584%25D9%2589-%25D8%25AF%25D8%25B9%25D9%2585-%25D8%25A7%25D9%2584%25D8%25A3%25D9%2587%25D8%25AF%25D8%25A7%25D9%2581-%25D8%25A7%25D9%2584%25D8%25A7%25D9%2582%25D8%25AA%25D8%25B5%25D8%25A7%25D8%25AF%25D9%258A%25D8%25A9\" 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>UAE, Morocco to cooperate in anti-money laundering: <\/strong>Director General of the Executive Office of Anti-Money Laundering and Counter Terrorism Financing Hamid AlZaabi discussed collaboration and exchanging expertise with a Moroccan delegation, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3n8a6o-uae-morocco-strenghten-anti-money-laundering-and\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The entities established joint committees to monitor standards and developments, technical aspects, and progress tracking during their two-day meeting, and agreed on specific areas of cooperation to implement an MoU to combat financial crime.<\/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>The UAE <\/strong>inked a<strong> protocol <\/strong>alongside other Brics members to join the<strong> MoU <\/strong>regarding the development of the<strong> Brics University Network<\/strong>. (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MOEUAEofficial\/posts\/pfbid0cBCYRtxQeEMXvuPdBu6dzaFsrxnkJnLKHtZ57qYnhZq2wgbEdztSuBC7XYeQFHSGl?_rdc=2&_rdr\" style=\"\" rel=\"noopener\">Statement<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/brics\/\">Brics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93103\" 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=\"93103\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/div>\r\n\r\n                    <p class=\"f-graphik\">MY MORNING ROUTINE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/14\/my-morning-routine-diana-nilipovscaia-ceo-of-mered\/\">\r\n                            My Morning Routine: Diana Nilipovscaia, CEO of Mered                        <\/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\/14\/my-morning-routine-diana-nilipovscaia-ceo-of-mered\/\" 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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Speaking to us this week is Diana Nilipovscaia, CEO of <a target=\"_blank\" href=\"https:\/\/mered.ae\/\" style=\"\" rel=\"noopener\">Mered<\/a>. <strong>Edited excerpts from our conversation:<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I am the CEO of Mered<\/strong>, an international real estate developer renowned for crafting exceptional residential properties worldwide. I bring over 16 years of extensive experience and expertise to our visionary projects.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My journey with Mered began in 2023<\/strong>, fueled by the company\u2019s ambitious vision to redefine urban living through superior design and construction standards. Having overseen numerous large-scale projects and luxury developments throughout my career, I was captivated by Mered\u2019s commitment to creating spaces that not only increase in value over time but also become integral and enjoyable parts of people's lives. The company's dedication to exceptional building quality and timeless design made joining Mered a natural and compelling choice for me.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I have the privilege of leading a dynamic team of industry experts<\/strong>, including designers, architects, engineers, contractors, artisans, and more. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My role involves steering the company\u2019s strategic direction and overseeing the development and execution of our projects.<\/strong> This includes managing market entry strategies and positioning our developments as top-tier real estate assets. I coordinate with our team of professional engineers, architects, designers, and other experts to ensure that every project meets our high standards of quality and innovation. I also cultivate strong partnerships with global contractors, architects, and service providers to bring our vision to life. Ensuring that our developments, such as the <a target=\"_blank\" href=\"https:\/\/iconic-tower.ae\/?utm_source=google_sem&amp;utm_medium=search&amp;utm_campaign=brand&amp;cm_id=21153364230_164492467830_695709105544_kwd-356227107283_c__g_&amp;gad_source=1&amp;gclid=Cj0KCQjwsaqzBhDdARIsAK2gqndPo_gbT7vJ0Y_4ayViC6inRJn_mdPx12avY0xi56mUvbeAeQBeracaArf9EALw_wcB\" style=\"\" rel=\"noopener\">ICONIC Tower<\/a>, deliver exceptional value to investors and residents alike is a top priority. I also engage with stakeholders, investors, and the broader real estate community to build and maintain strong relationships.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The most interesting trend in the real estate industry is the growth of branded residences<\/strong>, which promise unique design, attention to detail, and high-quality execution. These projects benefit from the expansive expertise of renowned brands and developers. Our partnership with Pininfarina on the ICONIC Tower exemplifies this. [Through the partnership,] <a target=\"_blank\" href=\"https:\/\/pininfarina.it\/\" style=\"\" rel=\"noopener\">Pininfarina<\/a>, known for designing luxury cars like Maserati and Ferrari, brings its high standards and innovative design to architecture. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This extensive expertise translates into the ICONIC Tower through meticulous attention to detail and superior design quality<\/strong>, making it a standout development. Branded residences also offer premium amenities and personalized services, enhancing the living experience and adding significant value to properties.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai\u2019s real estate market has shown remarkable resilience and adaptability.<\/strong> The city's strategic location, coupled with its world-class infrastructure and favorable business environment, continues to attract both investors and residents. With the government\u2019s proactive measures to stimulate the economy and attract foreign investment, <strong>there is substantial room for growth.<\/strong> While market conditions may fluctuate, the long-term outlook remains positive. High-quality, well-located properties, especially those that offer unique value propositions like the ICONIC Tower, are likely to see continued appreciation in value.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I start my day early with a focus on both mental and physical wellness.<\/strong> My morning routine involves a mix of meditation and brief yoga sessions, which I do three times a week, to center myself and gear up for the day ahead. I then enjoy a healthy breakfast while catching up on the latest industry news and global developments. This routine helps me start the day at 9am with clarity and purpose, ready to tackle the challenges ahead.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I usually begin with team meetings to discuss ongoing projects<\/strong>, address any challenges, and set priorities. My day often involves reviewing architectural designs, meeting with contractors, and coordinating with our partners on the ICONIC Tower project: Pininfarina, Mirage, Hirsch Bedner Associates (HBA), Dutch Foundation Dubai, and Valor Hospitality Partners. I also dedicate time to strategic planning and innovation, ensuring that our projects not only meet current standards but also set new benchmarks in the industry. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I also often have international meetings with investors<\/strong>, discussing opportunities and strategies to expand our global footprint. In the evenings, I frequently attend industry events or network with other professionals to stay connected and informed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The one constant in my day is my passion for architectural innovation.<\/strong> No matter how hectic the schedule, I always set aside time to review and analyze the latest trends in architecture and design. This involves studying innovative building techniques, sustainable materials, and emerging design aesthetics. Staying abreast of these trends ensures that our projects remain at the forefront of the industry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I rely heavily on meticulous planning, using a graphic chart that lays out our weekly and monthly goals.<\/strong> It helps us see what needs to get done and when. At the beginning of each week, I look back at what we accomplished the previous week to plan out what we'll focus on next. I also use digital tools to manage schedules. I believe in the power of delegation and trust my team of experts to handle specific aspects of our projects, allowing me to focus on strategic oversight and decision-making. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a professional level, I am excited about expanding Mered\u2019s footprint in new markets<\/strong> and exploring innovative development opportunities that push the boundaries of design and sustainability. Personally, I look forward to traveling more, as I love exploring the architecture and urban landscapes of different cultures. These experiences not only inspire me but also provide fresh perspectives that I can bring back to our projects. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>When it's time to unwind, I find peace and joy in spending quality moments with my family at home<\/strong>, whether we're playing sports in the evening or taking leisurely walks together for an hour. We also love exploring new restaurants in Dubai, which adds a touch of excitement to our family time. On weekends, I indulge in spa sessions and seek tranquility in green spaces or by the beach. Nature has a calming effect on me, and I find it rejuvenating to be surrounded by its beauty. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The best advice I received was from one of my shareholders<\/strong>, who encouraged me to balance my result-oriented approach with a sense of calmness. They highlighted the importance of maintaining composure, even in challenging situations. This guidance reminded me that while achieving results is crucial, staying calm and composed ultimately leads to better outcomes. It's helped me navigate through tough times with a clearer perspective.<\/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\/mered\/\">Mered<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/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=\"93105\" 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\/14\/93105-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93105\" class=\"content-area-description single-story post-93105 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:400;\">15 June (Saturday): Arafat day, national holiday.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">16-18 June (Sunday-Tuesday): Eid Al Adha, national holiday.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">24 June (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>9-12 December (Saturday-Thursday): Abu Dhabi Finance 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: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>Dubai secured more than half of tech FDI in the region last year | DP World eyes USD 3 bn investments in Africa | Bank investments, credit and deposits grow in 1Q<\/p>\n","protected":false},"featured_media":93074,"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-93073","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"15b65aa6-c7ad-4c6f-913f-705faafae8a3","teaser":"Dubai secured more than half of tech FDI in the region last year | DP World eyes USD 3 bn investments in Africa | Bank investments, credit and deposits grow in 1Q","photo_url":"https:\/\/ent.news\/2024\/5\/2258.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO 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