{"id":93126,"date":"2024-06-24T00:00:00","date_gmt":"2024-06-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=93126"},"modified":"2025-12-15T00:39:54","modified_gmt":"2025-12-15T00:39:54","slug":"gdp-growth-picks-up-a-whole-lot-of-ma","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/gdp-growth-picks-up-a-whole-lot-of-ma\/","title":{"rendered":"GDP growth picks up + A whole lot of M&#038;A"},"content":{"rendered":"<section id=\"93128\" 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=\"93128\">\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\/24\/plenty-of-ma-to-start-off-the-week\/\">\r\n                            THIS MORNING: GDP growth picks up + Redbird IMI begins its sale of the Telegraph and the Spectator                        <\/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\/24\/plenty-of-ma-to-start-off-the-week\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/24\/plenty-of-ma-to-start-off-the-week\/870-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/870.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"870.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/870.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/870.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93128\" class=\"content-area-description single-story post-93128 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-education tag-enterpriseam-uae tag-ma-watch tag-redbird-imi tag-uae-india-relations tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.650389b5-4e9a-45b4-8db2-09ab780141e6.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Good morning ladies and gentlemen<\/strong><span style=\"background-color: transparent;\">, and welcome to a jam-packed issue as we kick off the first full workweek following the Eid Al Adha vacation.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The flavor of the day is all things M&amp;A<\/strong>, with a flurry of transactions, including a consortium led by Brookfield snagging a majority stake in schools operator Gems Education and Masdar acquiring Greece\u2019s Terna Energy. <\/p>\n<p class=\"tag-border-left\"> PUBLIC SERVICE ANNOUNCEMENTS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>#1- Private schools in Dubai will not be subject to full inspections during the 2024-25 <\/strong><strong>academic year \u2014 except for new schools entering their third year in operation, <\/strong><a target=\"_blank\" href=\"https:\/\/www.khaleejtimes.com\/uae\/education\/dubai-khda-halts-school-inspections-for-next-academic-year\" style=\"\" rel=\"noopener\">Khaleej Times<\/a> reports, citing a circular from the Knowledge and Human Development Authority (<a target=\"_blank\" href=\"https:\/\/www.khda.gov.ae\/en\/\" style=\"\" rel=\"noopener\">KHDA<\/a>). A Dubai Schools Inspection Bureau (DSIB) team will carry out quality assurance visits targeting specific focus areas in place of inspections to monitor schools' progress on their improvement plans, with full inspections expected to resume in the 2025-26 academic year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What does this mean for school fees? <\/strong>Private school fees for the next academic year remain ambiguous amid the pause in inspections, with fee increases typically tied to inspection ratings. Private schools wishing to be graded for the 2024-25 academic year can submit a request to the DSIB for a full inspection from the KHDA up until 5 July.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Companies subject to the new corporate tax which have already received their <\/strong><strong>licenses must submit their corporate tax registrations by 30 June <\/strong>to avoid being fined AED 10k, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b3t6lwk-fta-urges-resident-juridical-persons-with-licences\" style=\"\" rel=\"noopener\">Wam<\/a> reports, citing a statement from the Federal Tax Authority. The authority has urged companies to adhere to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/2711.pdf\" style=\"\" rel=\"noopener\">specified deadlines (pdf)<\/a> set in March to avoid breaching tax laws.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>You can register via the Federal Tax Authority\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/eservices.tax.gov.ae\/#\/Logon\" style=\"\" rel=\"noopener\">EmaraTax platform<\/a><\/strong><strong>.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Your regularly scheduled reminder that regulations for social media ads come into <\/strong><strong>effect next week:<\/strong> The Abu Dhabi Department of Economic Development issued a reminder for influencers and businesses in the emirate to ensure they have the necessary permits and licenses to be able to use social media ads to promote their business, <a target=\"_blank\" href=\"https:\/\/gulfnews.com\/living-in-uae\/ask-us\/attention-influencers-and-businesses-abu-dhabi-licensing-requirements-for-social-media-ads-effective-july-1-1.1718979789559\" style=\"\" rel=\"noopener\">Gulf News<\/a> reports. As of next Monday, 1 July, failure to comply with regulations will result in a penalty of up to AED 10k and the possibility of the business being shut down. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Dubai\u2019s toll gate operator Salik will introduce a no-barrier parking fee collection<\/strong><strong> service at the Dubai Mall parking<\/strong>, <strong>starting 1 July, <\/strong>using vehicle plate recognition, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1423.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. Parking will be at no cost for the first four hours on weekdays and six hours on weekends, after which charges will apply. <\/p>\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#1- UAE-India cooperation is going to be in the spotlight this week: <\/strong>Indian External Affairs Minister S. Jaishankar landed in the UAE yesterday, as part of a state visit to review the comprehensive economic strategic agreement between India and UAE with his counterpart Sheikh Abdullah bin Zayed Al Nahyan, according to a <a target=\"_blank\" href=\"https:\/\/www.mea.gov.in\/press-releases.htm?dtl\/37901\/Visit_of_External_Affairs_Minister_to_the_UAE_June_23_2024\" style=\"\" rel=\"noopener\">statement<\/a> from India\u2019s Ministry of External Affairs. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The India-Middle East-Europe Economic Corridor (IMEC) <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/006b0021-b805-4530-8567-591e16bebdf8\" style=\"\" rel=\"noopener\">project<\/a><\/strong><strong> has kicked off<\/strong> <strong>operations nine months after its announcement<\/strong>, focusing on establishing the first leg between India and the UAE via sea and rail links, <a target=\"_blank\" href=\"https:\/\/theprint.in\/india\/india-uae-shipping-leg-of-imec-to-be-operationalised-in-first-100-days-of-modi-govt\/2141969\/\" style=\"\" rel=\"noopener\">The Print<\/a> reports. Efforts are currently underway to streamline procedures across the Indian ports of Mundra, Kandla and Nhava Sheva as well as the UAE ports of Jebel Ali and Fujairah. India set a 100-day deadline to complete operations on the first leg.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a>  <strong>#2- Adia + CVC make another play for Hargreaves: <\/strong>British financial services company Hargreaves Lansdown is considering a GBP 5.4 bn takeover bid from a consortium of the Abu Dhabi Investment Authority (Adia) and private equity firm CVC Capital, <a target=\"_blank\" href=\"https:\/\/www.telegraph.co.uk\/business\/2024\/06\/18\/ftse-100-markets-latest-news-wind-main-electricity-source\/\" style=\"\" rel=\"noopener\">the Telegraph<\/a> quotes the UK stockbroker\u2019s board as saying last week. The revised offer \u2014 the third to date \u2014 is priced at GBP 11.40 per share, and includes a GBP 0.30 per share dividend that can be reinvested. The consortium most recently offered GBP 4.7 bn in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/b621c113-0d36-4013-b351-34113ee59471\/adia-and-cvc-mull-another-bid-for%253cmark%253e-hargreaves-lansdown%253c%2Fmark%253e,-after-the-first-was-rejected\" style=\"\" rel=\"noopener\">May<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>The British investment platform extended the deadline for the bidders to make a firm takeover offer to 19 July.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#3- Abu Dhabi-backed RedBird IMI kicked off the sale of British papers<\/strong> <strong>the Telegraph and <\/strong><strong>Spectator on Friday<\/strong>, a RedBird spokesperson told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/media-telecom\/redbird-imi-opens-bids-its-sale-uks-telegraph-newspaper-2024-06-21\/#:~:text=LONDON%2C%20June%2021%20(Reuters),group%20after%20the%20government%20intervened.\" style=\"\" rel=\"noopener\">Reuters<\/a>. RedBird is seeking first-round bids by the end of July, aiming to close the transaction in the summer, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/82d3133a-0175-4f5e-bc4b-e7c82e776da4\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports, citing people familiar with the matter. This is the second time RedBird IMI receives bids for the papers, after it launched an auction in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f40ccdb9-f78b-4a85-a743-93705a67283a\/%253cmark%253eredbird-imi%253c%2Fmark%253e-to-auction-off-telegraph-and-spectator-rights-amid-uk-government-opposition\" style=\"\" rel=\"noopener\">May<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who could be biting?<\/strong> Interest in the two papers has \u201cremained extremely strong,\u201d a RedBird IMI spokesperson said, stating that the firm has been in talks with \u201cseveral interested parties.\u201d Hedge fund owner Paul Marshall. DMGT, which owns the Daily Mail, Belgian Group Mediahuis, and National World are among the bidders vying for the two papers, according to Reuters. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>RedBird IMI wants to recoup its losses: <\/strong>RedBird IMI, a JV between Deputy Prime Minister Sheikh Mansour bin Zayed Al Nahyan's <a target=\"_blank\" href=\"https:\/\/internationalmediainvestments.com\/\" style=\"\" rel=\"noopener\">International Media Investments<\/a> and <a target=\"_blank\" href=\"https:\/\/redbirdcap.com\/\" style=\"\" rel=\"noopener\">RedBird Capital Partners<\/a>, is looking to sell the papers to recoup the GBP 600 mn invested last year to acquire the assets, before the takeover bid <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/6dfacfc8-c431-4a7e-938b-a330c9d30130\/adnoc,-bp-put-newmed-stake-acquisition-on-hold-%2B-uk-takes-another-step-towards-blocking-redbird-imi%25e2%2580%2599s-telegraph-takeover-bid\" style=\"\" rel=\"noopener\">fell through<\/a>. The Barclay Family is also expected to fail to repay the debt after the Telegraph incurred a GBP 240 mn loss in 2023, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-19\/telegraph-says-barclay-family-may-not-pay-back-278-million-debt\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>The JV tapped Raine Group to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/bd6967e5-a7f6-48ad-b21d-75c3e134a92d\/another-stormy-week\" style=\"\" rel=\"noopener\">oversee the sale process<\/a> and was said to be considering various options, including converting its call option into shares with the British Department for Culture, Media, and Sport. Selling the Spectator independently could fetch over GBP 100 mn.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- UK engineering firm Wood Group is looking to expand its presence in the region as it<\/strong><strong> considers a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/de98445d-93db-4679-a8ea-e4fb0f1e69be\/%253cmark%253esidara%253c%2Fmark%253e-gets-access-to-due-diligence-on-wood-group\" style=\"\" rel=\"noopener\">potential buyout<\/a><\/strong><strong> by Dubai-based <\/strong><strong><a target=\"_blank\" href=\"https:\/\/sidaracollaborative.com\/\" style=\"\" rel=\"noopener\">Sidara<\/a><\/strong>, <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/business\/energy\/2024\/06\/22\/uks-wood-seeks-a-larger-middle-east-footprint-amid-takeover-talks-with-dubais-sidara\/\" style=\"\" rel=\"noopener\">The National<\/a> reports. The firm plans to establish an energy transition hub in Abu Dhabi in August amid rising interest in its carbon capture, renewable energy, and hydrogen solutions across the Middle East, Gerry Traynor, senior vice president of projects, Middle East, told The National. An increasing number of customers in the region are prioritizing decarbonizing operations, with Oman aiming to become a hydrogen hub, Traynor added. <\/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\"><strong>***<br \/><\/strong><strong>DID YOU KNOW that we also cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Egypt<\/a><\/strong><strong> and <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong>?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to subscribe? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of EnterpriseAM UAE delivered every weekday before 7am UAE time \u2014 without charge, thanks to our friends at Mashreq.<br \/><strong>***<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/uaeformar.enterprise.news\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/836.jpg?ssl=1\"><\/a> <\/p>\n<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>Expect a big week of politics to dominate headlines in the global business press<\/strong>, though AI and the stock market (is a correction finally in the cards?) aren\u2019t going anywhere anytime soon. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Elections will be the big theme, with three televised debates setting up a high-stakes <\/strong><strong>week <\/strong>for incumbents on both sides of the pond:<\/p>\n<ul>\n<li>French Prime Minister <strong>Gabriel Attal<\/strong> takes on his top right- and left-wing challengers on <strong>Tuesday<\/strong>;<\/li>\n<li>Across the Channel, sitting Prime Minister <strong>Rishi Sunak<\/strong> goes head-to-head with Labour\u2019s Keir Starmer in a leaders\u2019 debate on the BBC this <strong>Wednesday<\/strong>;<\/li>\n<li><strong>Joe Biden<\/strong> takes on Donald Trump this Thursday in the first of two <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/politics\/elections\/trump-biden-debate-lessons-rematch-38dedfae\" style=\"\" rel=\"noopener\">televised debates<\/a>. (They will meet again on 10 September.)<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>French voters go to the polls in snap parliamentary elections this coming Sunday<\/strong> \u2014 <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/0aadcd8a-bbeb-4003-8ed1-a4750a9a1604\" style=\"\" rel=\"noopener\">an<\/a><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/0aadcd8a-bbeb-4003-8ed1-a4750a9a1604\" style=\"\" rel=\"noopener\">FT poll<\/a> suggests voters trust the right-wing Rassemblement National more on the economy than they do Emmanuel Macron\u2019s centrist bloc. <strong>And voters in Iran follow <\/strong><strong>suit this<\/strong><strong> Friday<\/strong>, casting their votes for a new president. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HEAT is also <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2128054\" style=\"\" rel=\"noopener\">in the headlines<\/a><\/strong> after Saudi Arabia confirmed more than 1.3k pilgrims died during this year\u2019s Hajj \u2014 the vast majority of the deaths were heat-related \u2014 and as much of the US and Canada swelters under a <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/heat-wave-scorches-us-east-coast-dangerous-temperatures-expand-west-2024-06-23\/\" style=\"\" rel=\"noopener\">heat dome<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WAR WATCH- Netanyahu says his assault on Gaza will enter a more \u201ctargeted\u201d phase <\/strong><strong>\u201cvery soon.\u201d <\/strong>The Israeli leader was speaking in his <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-23\/netanyahu-says-major-operations-in-gaza-will-end-very-soon\" style=\"\" rel=\"noopener\">first televised interview<\/a> since October of last year. Meanwhile, an Israeli air assault <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israeli-tanks-edge-rafahs-mawasi-refuge-zone-residents-say-2024-06-23\/\" style=\"\" rel=\"noopener\">killed eight people<\/a> at an aid distribution center yesterday.<\/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\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/redbird-imi\/\">Redbird IMI<\/a>\n                <!-- <span 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     id=\"93131\">\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\/24\/gdp-growth-picked-up-steam-in-4q-2023-cbuae\/\">\r\n                            GDP growth accelerated to 4.3% in 4Q 2023 -CBUAE                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2590.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93132\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/24\/gdp-growth-picked-up-steam-in-4q-2023-cbuae\/2590-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2590.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2590.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2590.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2590.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93131\" class=\"content-area-description single-story post-93131 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-central-bank-of-the-uae tag-economy tag-enterpriseam-uae tag-gdp tag-inflation wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.262c74f6-dcc5-46bb-9698-128f13c37afa.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The UAE\u2019s GDP grew at a 4.3% clip in 4Q 2023<\/strong>, picking up pace from the 2.5% growth rate in the quarter prior. The growth was buoyed by a rapid growth in the UAE\u2019s non-oil sector \u2014 which makes up 75% of total GDP \u2014 and \u201cbetter performance\u201d of the oil sector, the CBUAE said in its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1408.pdf\" style=\"\" rel=\"noopener\">Quarterly Economic Review report (pdf)<\/a>. Real estate, tourism, and hospitality collectively contributed about 30% of the UAE\u2019s non-oil GDP.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Non-oil private sector business activity grew at a slower pace in <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/a93602a2-8470-4ed3-ac1d-969fee0d8ced\/april-sees-slower-non-oil-business-expansion-due-to-the-storm\" style=\"\" rel=\"noopener\">April<\/a><\/strong> due to disruptions from that month\u2019s strong storms. The sector sustained its growth on the back of strong business sentiment as companies noted \u201cbuoyant market conditions and strong sales pipelines.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead, the CBUAE expects economic growth to decelerate slightly to 3.9% in<\/strong><strong> 2024<\/strong>, a 0.3 percentage point downward revision from its April projection. Sectors such as tourism, transportation, financial and ins. services, and construction will continue to be key drivers of growth. Economic expansion is projected to accelerate to 6.2% clip, supported by robust foreign trade flows sustaining the growth momentum to next year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> The central bank revealed the revised growth projections <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/93a9d034-606f-4c8e-9334-5c5dbefa3ef6\/cbuae-revises-its-gdp-growth-forecast-for-2024-downward\" style=\"\" rel=\"noopener\">earlier this month<\/a> in its 2023 annual report, anticipating growth to \u201cprimarily [come] on the back of strong growth in the non-oil sector,\u201d which it expects to grow 5.4%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Inflation is expected to cool, with the CBUAE now saying it expects the annual inflation<\/strong><strong> rate to settle at 2.3% in 2024<\/strong>, down from the 2.5% annual rate it had previously forecast, attributing the higher rate to \u201cmoderate increase in commodity prices, wages and rents.\u201d The central bank foresees inflation persisting at 2.5% y-o-y in 2025, fueled by higher domestic demand and potential depreciation of the AED\u2019s nominal exchange rate. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Speaking of which:<\/strong> The AED\u2019s nominal exchange rate appreciated by 4.2% y-o-y in April 2024 on the back of the USD\u2019s appreciation, compared to a 2.4% y-o-y decrease in March.<\/p>\n<p class=\"tag-border-left\">IN OTHER ECONOMY NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Annual inflation in Dubai reached 3.81% in May<\/strong>, according to figures from the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1376.pdf\" style=\"\" rel=\"noopener\">Dubai<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1376.pdf\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1376.pdf\" style=\"\" rel=\"noopener\">Statistics Center (pdf)<\/a>. This is a modest decline from the 3.91% rate recorded in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/9b66ff94-b650-4e00-9e81-9f4cade2b6b6\/dubai%253cmark%253e-inflation%253c%2Fmark%253e-hits-six-month-high-in-april\" style=\"\" rel=\"noopener\">April<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The culprits:<\/strong> Prices of housing, water, electricity, gas, and other fuels \u2014 the largest component of the basket of goods and services \u2014 increased at the fastest pace this year to 6.58% in May, compared to 6.46% in April, while food and beverage inflation inched down slightly to 2.28% from 2.29%. Price increases from restaurants and hotels have decreased to 1.27% in May from 2.17% during the previous month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Month-on-month, Dubai\u2019s inflation decreased to 0.24% in May<\/strong>, down from 0.76% in April, according to the statistics center\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1380.pdf\" style=\"\" rel=\"noopener\">monthly inflation report (pdf)<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93133\" 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=\"93133\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/24\/brookfield-led-consortium-to-invest-in-gems\/\">\r\n                            Brookfield-led consortium to acquire majority stake in Dubai\u2019s Gems                        <\/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\/24\/brookfield-led-consortium-to-invest-in-gems\/\" 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\/24\/brookfield-led-consortium-to-invest-in-gems\/')\">\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\/24\/brookfield-led-consortium-to-invest-in-gems\/\">\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=Brookfield-led consortium to invest in Gems&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/24\/brookfield-led-consortium-to-invest-in-gems\/\">\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\/24\/brookfield-led-consortium-to-invest-in-gems\/&title=Brookfield-led consortium to invest in Gems\">\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=Brookfield-led+consortium+to+invest+in+Gems+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F24%2Fbrookfield-led-consortium-to-invest-in-gems%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\/24\/brookfield-led-consortium-to-invest-in-gems\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1725.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93134\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/24\/brookfield-led-consortium-to-invest-in-gems\/1725-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1725.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1725.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1725.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1725.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93133\" class=\"content-area-description single-story post-93133 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-abu-dhabi-investment-authority tag-brookfield tag-cvc-capital-partners tag-enterpriseam-uae tag-gems-education tag-gii tag-ma-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.c2e329d4-011c-4514-8da3-1be61383601b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Brookfield to acquire a majority stake in Dubai\u2019s Gems:<\/strong> A consortium led by Canadian asset manager <a target=\"_blank\" href=\"https:\/\/www.brookfield.com\/\" style=\"\" rel=\"noopener\">Brookfield<\/a> entered into a binding agreement to purchase a majority stake in Dubai-based private school provider <a target=\"_blank\" href=\"https:\/\/www.gemseducation.com\/\" style=\"\" rel=\"noopener\">Gems Education<\/a> from a consortium led by buyout firm <a target=\"_blank\" href=\"https:\/\/www.cvc.com\/\" style=\"\" rel=\"noopener\">CVC Capital Partners<\/a> for an undisclosed sum, according to a CVC <a target=\"_blank\" href=\"https:\/\/www.cvc.com\/media\/news\/2024\/2024-06-18-cvc-strategic-opportunities-agrees-partial-sale-of-its-investment-in-gems-education\/\" style=\"\" rel=\"noopener\">statement<\/a>. Dubai-based <a target=\"_blank\" href=\"https:\/\/gii.ae\/\" style=\"\" rel=\"noopener\">Gulf Islamic Investments<\/a> (GII), <a target=\"_blank\" href=\"https:\/\/www.marathonfund.com\/\" style=\"\" rel=\"noopener\">Marathon Asset Management<\/a>, and Azerbaijan\u2019s State Oil Fund are all joining Brookfield in investing in Gems Education, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1385.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- The transaction could be <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/92444c22-ea59-4e5e-b919-172e15139eb2\/brookfield-could-pour-usd-2-bn-in%253cmark%253e-gems%253c%2Fmark%253e-education\" style=\"\" rel=\"noopener\">valued at some USD 2 bn<\/a><\/strong> and is expected to target expanding Gems\u2019 portfolio by undertaking new acquisitions. If closed for USD 2 bn, the stake acquisition would mark one of \u201cthe largest private equity [transactions] in a closely held business in the Gulf,\u201d Bloomberg previously reported. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> A group of Emirati lenders is helping finance the transaction by funding the repayment of the company\u2019s existing obligations. CVC, which acquired 30% of Gems for USD 1 bn in 2019, will retain a stake in the company, while existing minority shareholders, including Malaysia\u2019s sovereign wealth fund <a target=\"_blank\" href=\"https:\/\/www.khazanah.com.my\/\" style=\"\" rel=\"noopener\">Khazanah Nasional Berhad<\/a>, will completely exit the education firm. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Timeline: <\/strong>The transaction is expected to be completed in 3Q 2024, subject to certain conditions being met by the Brookfield consortium by late June 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Brookfield\u2019s acquisition draws the curtain on Gems\u2019 hunt for partners:<\/strong> Brookfield\u2019s investment follows <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/da74698d-b3c7-4c4a-b39b-c1f05e0b239d\/novartis-will-allow-a-local-manufacturing-of-leukemia-med-%2B-network-international-could-ramp-up-competition-in-egypt%25e2%2580%2599s-pos-space#:~:text=MEANWHILE%2D%20Abu%20Dhabi,USD%206%20bn.\" style=\"\" rel=\"noopener\">two years<\/a> of Gems Education mulling going public and inviting investors to bid for CVC\u2019s stake, with talks with wealth fund ADQ and state-backed real estate developer Aldar to buy a stake valued at USD 6 bn <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-05-04\/dubai-school-operator-s-talks-with-abu-dhabi-group-said-to-stall\" style=\"\" rel=\"noopener\">falling through<\/a> last year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CVC will maintain its presence in the region: <\/strong>While Gems was CVC\u2019s first equity investment in the Middle East, the asset manager\u2019s stake sale will not see CVC exit the region, as it \u201c[remains] fully committed to investing further in this attractive region,\u201d said CVC Strategic Opportunities Managing Director Osama Nahhat.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong> Dubai-based advisory firm <a target=\"_blank\" href=\"https:\/\/www.denovoca.com\/\" style=\"\" rel=\"noopener\">deNovo Partners<\/a> and Goldman Sachs Group are Gems\u2019 advisors on the stake sale.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi-investment-authority\/\">Abu Dhabi Investment Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/brookfield\/\">Brookfield<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/cvc-capital-partners\/\">CVC Capital Partners<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/gems-education\/\">GEMS Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/gii\/\">Gii<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93135 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=\"93135\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/24\/93135-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93135\" class=\"content-area-description single-story post-93135 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=\"93136\" 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=\"93136\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/24\/adia-advent-international-to-snag-minority-stake-in-fisher-investments\/\">\r\n                            Adia + Advent International to snag minority stake in Fisher 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\/24\/adia-advent-international-to-snag-minority-stake-in-fisher-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(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2024\/06\/24\/adia-advent-international-to-snag-minority-stake-in-fisher-investments\/')\">\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\/24\/adia-advent-international-to-snag-minority-stake-in-fisher-investments\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Adia + Advent International to snag minority stake in Fisher Investments&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/24\/adia-advent-international-to-snag-minority-stake-in-fisher-investments\/\">\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\/24\/adia-advent-international-to-snag-minority-stake-in-fisher-investments\/&title=Adia + Advent International to snag minority stake in Fisher Investments\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Adia+%2B+Advent+International+to+snag+minority+stake+in+Fisher+Investments+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F24%2Fadia-advent-international-to-snag-minority-stake-in-fisher-investments%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\/24\/adia-advent-international-to-snag-minority-stake-in-fisher-investments\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1047.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93137\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/24\/adia-advent-international-to-snag-minority-stake-in-fisher-investments\/1047-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1047.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1047.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1047.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1047.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93136\" class=\"content-area-description single-story post-93136 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-abu-dhabi-investment-authority tag-enterpriseam-uae tag-investment-watch tag-ma-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.a3bdb827-ea09-47a6-88a7-aba903483970.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Adia + Advent International to invest between USD 2.5-3 bn in Fisher<\/strong><strong> Investments:<\/strong> An Abu Dhabi investment Authority (Adia) unit and US-based private equity firm Advent International will make a minority investment of between USD 2.5-3 bn in Texas-based wealth management firm <a target=\"_blank\" href=\"https:\/\/www.fisherinvestments.com\/en-us\" style=\"\" rel=\"noopener\">Fisher Investments<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/www.prnewswire.com\/news-releases\/fisher-investments-selects-advent-international-and-adia-as-strategic-partners-in-minority-common-stock-investment-302173665.html?tc=eml_cleartime\" style=\"\" rel=\"noopener\">press release<\/a>. The minority acquisition, slated to close later this year pending approvals and conditions, will value the money manager at USD 12.75 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More on the transaction:<\/strong> The transaction will see Fisher Investment\u2019s executive chairman and Ken Fisher sell his personal holdings in the firm to Adia and funds managed by Advent. After the transaction is finalized, Fisher will retain more than 70% ownership of beneficial shares and voting rights and will continue to serve as the executive chairman and co-chief investment officer, while Damian Ornani will remain CEO of Fisher Investments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors: <\/strong>Gibson Dunn is legal advisor to Adia, while Ropes &amp; Gray is providing counsel to Advent. JP Morgan Securities and RBC Capital Markets are joint financial advisors and Paul Hastings served as legal advisor to Fisher Investments. <\/p>\n<p class=\"tag-border-left\">IN OTHER M&amp;A NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hikma pharma acquires Xellia\u2019s assets: <\/strong>Hikma Pharma has agreed with Xellia Pharma to acquire parts of its US finished dosage form business and assets, including a commercial portfolio and pipeline of differentiated products, a manufacturing facility in Cleveland, Ohio, sales and marketing capabilities, and an R&amp;D center in Croatia\u2019s Zagreb, according to a <a target=\"_blank\" href=\"https:\/\/www.nasdaqdubai.com\/trading\/disclosures\/34f68c5a-5d5d-4cdf-88c0-0df16cc86c4b\" style=\"\" rel=\"noopener\">statement<\/a>. The transaction will see Hikma paying a consideration of USD 135 mn, with an additional contingent consideration of up to USD 50 mn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s in the bag: <\/strong>Hikma will be acquiring Xellia\u2019s research and design center in Zagreb, including a large team of professionals. They will also be acquiring eight approved and marketed injectable products to Hikma\u2019s US portfolio and 11 pipeline products \u2014 including ready-to-use formulation Vanco Ready (vancomycin) \u2014 launched in 2019, amongst other anti-infectives. While these products are currently manufactured by a third party, Hikma will maintain these manufacturing contracts while it upgrades the Cleveland facility. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi-investment-authority\/\">Abu Dhabi Investment Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93138\" 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=\"93138\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/24\/masdar-is-snapping-up-greeces-terna-energy\/\">\r\n                            Masdar to purchase Greece\u2019s Terna Energy at EUR 20 per share                        <\/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\/24\/masdar-is-snapping-up-greeces-terna-energy\/\" 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\/24\/masdar-is-snapping-up-greeces-terna-energy\/')\">\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\/24\/masdar-is-snapping-up-greeces-terna-energy\/\">\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=Masdar is snapping up Greece\u2019s Terna Energy&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/24\/masdar-is-snapping-up-greeces-terna-energy\/\">\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\/24\/masdar-is-snapping-up-greeces-terna-energy\/&title=Masdar is snapping up Greece\u2019s Terna Energy\">\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=Masdar+is+snapping+up+Greece%E2%80%99s+Terna+Energy+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F24%2Fmasdar-is-snapping-up-greeces-terna-energy%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\/24\/masdar-is-snapping-up-greeces-terna-energy\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1456.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93139\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/24\/masdar-is-snapping-up-greeces-terna-energy\/1456-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1456.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1456.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1456.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1456.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93138\" class=\"content-area-description single-story post-93138 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-enterpriseam-uae tag-investment-watch tag-ma-watch tag-masdar 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\/.9f05db2a-e066-4b37-9d4e-427c006abbd2.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Masdar to acquire Greek renewables giant Terna Energy: <\/strong>UAE\u2019s Masdar has reached a final agreement to purchase an initial 67% stake in Greece\u2019s <a target=\"_blank\" href=\"https:\/\/www.terna-energy.com\/\" style=\"\" rel=\"noopener\">Terna Energy<\/a>, with plans to present an all cash, mandatory offer to buy the remaining stakes once the transaction is completed, according to a <a target=\"_blank\" href=\"https:\/\/masdar.ae\/en\/news\/newsroom\/uae-renewables-champion-to-acquire-greeces-terna-energy\" style=\"\" rel=\"noopener\">statement<\/a>. The shares are priced at EUR 20, valuing the company at EUR 3.2 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bigger picture: <\/strong>The move pushes Masdar closer to achieving its goal of 100 GW of global energy capacity by 2030, the statement says. Terna \u2014 the largest investor in Greece\u2019s renewables sector \u2014 aims to achieve 6 GW operational renewables capacity by 2030 while its parent company <a target=\"_blank\" href=\"https:\/\/www.gekterna.com\/\" style=\"\" rel=\"noopener\">Gek Terna<\/a> is hoping to become a leader of diversified infrastructure in Greece and Southeast Europe.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Big acquisitions are the way to go for Masdar: <\/strong>Higher interest rates have \u201ctriggered a realization to the market that the valuation they were thinking of is not real,\u201d in contrast to the high valuations people were expecting when interest rates were at zero or negative, Chief Executive Mohamed Jameel Al Ramahi told the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/42b3737f-e252-41bf-8028-24d00ca32d48\" style=\"\" rel=\"noopener\">Financial Times<\/a>. In order to meet the company\u2019s 100 GW goal, Masdar needs \u201cto start thinking about making big acquisitions,\u201d Al Ramahi added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not Masdar\u2019s first Greek venture:<\/strong> Masdar and the Greek Ministry of Environment and Energy, signed an agreement <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/13a21690-684f-4883-b0cd-37e8b85b40af\/uae-and%253cmark%253e-greece%253c%2Fmark%253e-expand-green-investments-%2B-implement-more-green-transition-projects\" style=\"\" rel=\"noopener\">in March<\/a> to implement more projects under the GR-Eco Islands initiative which aims to accelerate the green transition of the Greek isles. Last December, Masdar also signed an agreement to collaborate on green infrastructure in Poros Island. <\/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\/ma-watch\/\">M&amp;A WATCH<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93140\" 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=\"93140\">\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\">CAPITAL MARKETS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/24\/dubais-aditum-launches-four-public-funds\/\">\r\n                            Dubai\u2019s Aditum Standard Chartered launch four public funds                        <\/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\/24\/dubais-aditum-launches-four-public-funds\/\" 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\/24\/dubais-aditum-launches-four-public-funds\/')\">\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\/24\/dubais-aditum-launches-four-public-funds\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Dubai\u2019s Aditum launches four public funds&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/24\/dubais-aditum-launches-four-public-funds\/\">\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\/24\/dubais-aditum-launches-four-public-funds\/&title=Dubai\u2019s Aditum launches four public funds\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Dubai%E2%80%99s+Aditum+launches+four+public+funds+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F24%2Fdubais-aditum-launches-four-public-funds%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\/24\/dubais-aditum-launches-four-public-funds\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1399.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93141\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/24\/dubais-aditum-launches-four-public-funds\/1399-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1399.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1399.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1399.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1399.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93140\" class=\"content-area-description single-story post-93140 post type-post status-publish format-standard has-post-thumbnail hentry category-capital-markets tag-capital-markets tag-enterpriseam-uae tag-standard-chartered 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\/.4523a877-4748-46ca-b937-43b4b9bb4a27.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Dubai-based <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.aditumim.com\/\" style=\"\" rel=\"noopener\">Aditum Investment Management<\/a><\/strong><strong> debuted four public funds<\/strong>, operating under its incorporated cell company (ICC) structure in the Dubai International Financial Center (DIFC), according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/aditum-and-standard-chartered-partner-on-first-of-its-kind-fund-structure-x10z0gk8\" style=\"\" rel=\"noopener\">press release<\/a>. Standard Chartered will act as fund administrator and custodian. Named Aditum Global Access ICC, it is the first fund structure to launch under the updated public fund regulations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Uh\u2026Enterprise, what\u2019s an incorporated cell company? <\/strong>In the DIFC, fund platforms set up under an ICC, offering foreign funds a <a target=\"_blank\" href=\"https:\/\/www.simmons-simmons.com\/en\/publications\/cluguef6t0000uaxsj1f4anhr\/promotion-of-foreign-funds-to-uae-retail-investors-what-s-next-#:~:text=In%20the%20DIFC%20in,in%20structuring%20the%20fund.\" style=\"\" rel=\"noopener\">pathway to reach UAE onshore investors<\/a>, while adhering to the new regulations restricting their promotion, with each ICC acting as an independent fund and legal entity, maintaining a separation of assets and liabilities. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> The Securities and Commodities Authority issued a decision prohibiting funds and asset managers outside of the UAE from being publicly offered for retail subscription in the UAE. The rule came into effect in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/a16449a8-f2b9-4c70-9026-23cdedfaa7cc\/banks-can-no-longer-market-foreign-funds-to-retail-investors-in-the-emirates\" style=\"\" rel=\"noopener\">April<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aditum has more in the pipeline: <\/strong>Aditum has integrated 10 funds into the ICC structure so far, with the newly-launched four funds receiving initial subscriptions in May. Additionally, an eleventh fund is currently in the incorporation process. Aditum plans to introduce an Islamic multi-asset fund and a global fixed-income strategy in the upcoming weeks. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- Standard Chartered was quick to adapt to the new regulatory system<\/strong>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/7011429a-42cd-44f5-bd55-17de53c84c1d\/you-get-a-visa,-you-get-a-visa,-everybody-gets-a-visa#:~:text=%231%2D%20Standard%20Chartered,latest%20regulatory%20rules.\" style=\"\" rel=\"noopener\">partnering<\/a> with securities depository Clearstream to include UAE-based funds on its Vestima platform enabling retail clients to invest in locally-domiciled funds.<\/p>\n<p class=\"tag-border-left\">IN OTHER CAPITAL MARKET NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Abu Dhabi government listed USD 5 bn worth of sovereign bonds on the ADX on<\/strong> <strong>Friday<\/strong>, it said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1410.pdf\" style=\"\" rel=\"noopener\">ADX filing (pdf)<\/a>. The first tranche consists of five-year bonds worth USD 1.75 bn, priced at 35 basis points over US Treasuries, yielding 4.97%. The second tranche comprises USD 1.5 bn in bonds yielding 5% and maturing in 2034. The third USD 1.75 bn tranche, carrying a 30-year tenor, carries a yield of 5.5%.<\/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\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/standard-chartered\/\">Standard Chartered<\/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=\"93142\" 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=\"93142\">\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\">INVESTMENT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/24\/abu-dhabi-catalyst-partners-is-bringing-haveli-investments-to-adgm\/\">\r\n                            Haveli Investments to set up headquarters in ADGM                        <\/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\/24\/abu-dhabi-catalyst-partners-is-bringing-haveli-investments-to-adgm\/\" 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\/24\/abu-dhabi-catalyst-partners-is-bringing-haveli-investments-to-adgm\/')\">\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\/24\/abu-dhabi-catalyst-partners-is-bringing-haveli-investments-to-adgm\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Abu Dhabi Catalyst Partners is bringing Haveli Investments to ADGM&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/24\/abu-dhabi-catalyst-partners-is-bringing-haveli-investments-to-adgm\/\">\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\/24\/abu-dhabi-catalyst-partners-is-bringing-haveli-investments-to-adgm\/&title=Abu Dhabi Catalyst Partners is bringing Haveli Investments to ADGM\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Abu+Dhabi+Catalyst+Partners+is+bringing+Haveli+Investments+to+ADGM+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F24%2Fabu-dhabi-catalyst-partners-is-bringing-haveli-investments-to-adgm%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\/24\/abu-dhabi-catalyst-partners-is-bringing-haveli-investments-to-adgm\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/755.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93143\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/24\/abu-dhabi-catalyst-partners-is-bringing-haveli-investments-to-adgm\/755-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/755.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"755.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/755.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/755.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93142\" class=\"content-area-description single-story post-93142 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-adgm tag-enterpriseam-uae tag-gaming tag-investment-watch tag-technology 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\/.9c3320e6-8043-43d7-ad4f-bc438b423f45.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Haveli Investments to establish presence in ADGM with ADCP backing:<\/strong> Abu Dhabi Catalyst Partners (ADCP), a JV between Mubadala Capital and investment firm Alpha Wave Global, is set to invest an undisclosed amount in US-based tech-focused private equity firm <a target=\"_blank\" href=\"https:\/\/www.haveliinvestments.com\/\" style=\"\" rel=\"noopener\">Haveli Investments<\/a> \u2019 software strategies, a <a target=\"_blank\" href=\"https:\/\/www.adsmehub.ae\/en\/explore\/post-details\/abu-dhabi-catalyst-partners-and-haveli-investments-announce-partnership\" style=\"\" rel=\"noopener\">press release<\/a> reads. As part of the agreement, the technology firm will set up shop in the Abu Dhabi Global Market. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> Haveli\u2019s debut regional office in Abu Dhabi will host a team of software and gaming investment experts in Abu Dhabi aiming to boost the company\u2019s global outreach, according to the statement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT-<\/strong> With a USD 1.7 bn capital base, part of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/e36f4cf8-b832-4302-95e1-94f1881c263b\/aldar-properties-invests-aed-407-mn-in-european-assets\" style=\"\" rel=\"noopener\">ADCP\u2019s goals<\/a> is to attract businesses to ADGM. So far, the JV has invested in over 29 companies and is helping to create 400 new jobs in the ADGM. ADCP currently aims to finalize from four to eight new transactions, Mubadala Capital Solutions Co-Head Fatima Al Noaimi previously said. <\/p>\n<p class=\"tag-border-left\">IN OTHER INVESTMENT NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- AGWA to expand its cultivated meat production capacity:<\/strong> Abu Dhabi\u2019s new food and water cluster \u2014 AgriFood Growth &amp; Water Abundance (AGWA) \u2014 has partnered with cultivated meat producer <a target=\"_blank\" href=\"https:\/\/www.believermeats.com\/\" style=\"\" rel=\"noopener\">Believer Meats<\/a> to expand cultivated meat production, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/13yubb5-agwa-believer-meats-develop-cultivated-meat\" style=\"\" rel=\"noopener\">Wam<\/a> reports. As part of the agreement, Believer Meats will set up its regional headquarters in Abu Dhabi in a bid to expand its commercial operations, product manufacturing, and R&amp;D capacities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan approved the launch of AGWA \u2014 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/0fdce3a0-e5b0-437d-8117-fea58c2bb24d\/chinese-ev-manufacturer-nio-to-set-up-shop-in-the-uae-before-the-end-of-the-year\" style=\"\" rel=\"noopener\">led by<\/a> the Abu Dhabi Department of Economic Development and the Abu Dhabi Investment Office \u2014 earlier this month. The cluster seeks to promote alternative proteins, algae, and reverse osmosis technologies to address global food shortages and water scarcity.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More on Believer Meats:<\/strong> The company develops scalable cell-cultivation technology for cultivated meat. Believer Meats is currently constructing the world's largest facility in North Carolina, set to open by late 2024, featuring an innovation center and tasting kitchen.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- NUOS to set up shop in Abu Dhabi: <\/strong>Swiss alternative protein specialists <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/nuos\/?trk=public_post_main-feed-card_reshare-text\" style=\"\" rel=\"noopener\">NUOS<\/a> will set up an innovation center and food manufacturing facilities for alternative protein production in Abu Dhabi, after inking an agreement with AGWA, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/13yubb4-swiss-based-nuos-agwa-abu-dhabi-partner-build\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The move comes as the company looks to serve Europe, North America and MENA markets and slash dependency on animal-based food systems to meet net-zero targets. The agreement will also see NUOS collaborate with Abu Dhabi-based R&amp;D institutes for innovative and sustainable food technologies, and universities to develop talent in this field.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adgm\/\">ADGM<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/gaming\/\">Gaming<\/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\/technology\/\">TECHNOLOGY<\/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=\"93144\" 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=\"93144\">\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\">ENERGY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/24\/added-broaden-energy-to-establish-aed-1-bn-hydrogent-equipment-complex-in-abu-dhabi\/\">\r\n                            ADDED and Broaden Energy to establish an AED 1 bn hydrogent equipment complex in Abu Dhabi                        <\/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\/24\/added-broaden-energy-to-establish-aed-1-bn-hydrogent-equipment-complex-in-abu-dhabi\/\" 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\/24\/added-broaden-energy-to-establish-aed-1-bn-hydrogent-equipment-complex-in-abu-dhabi\/')\">\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\/24\/added-broaden-energy-to-establish-aed-1-bn-hydrogent-equipment-complex-in-abu-dhabi\/\">\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=ADDED, Broaden Energy to establish AED 1 bn hydrogent equipment complex in Abu Dhabi&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/24\/added-broaden-energy-to-establish-aed-1-bn-hydrogent-equipment-complex-in-abu-dhabi\/\">\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\/24\/added-broaden-energy-to-establish-aed-1-bn-hydrogent-equipment-complex-in-abu-dhabi\/&title=ADDED, Broaden Energy to establish AED 1 bn hydrogent equipment complex in Abu Dhabi\">\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=ADDED%2C+Broaden+Energy+to+establish+AED+1+bn+hydrogent+equipment+complex+in+Abu+Dhabi+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F24%2Fadded-broaden-energy-to-establish-aed-1-bn-hydrogent-equipment-complex-in-abu-dhabi%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\/24\/added-broaden-energy-to-establish-aed-1-bn-hydrogent-equipment-complex-in-abu-dhabi\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1404.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93145\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/24\/added-broaden-energy-to-establish-aed-1-bn-hydrogent-equipment-complex-in-abu-dhabi\/1404-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1404.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1404.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1404.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1404.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93144\" class=\"content-area-description single-story post-93144 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-abu-dhabi tag-energy tag-enterpriseam-uae tag-hydrogen 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\/.84bb16e2-5fbe-419d-8a2b-7e01f663ce2c.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Abu Dhabi\u2019s getting a AED 1 bn hydrogen equipment manufacturing <\/strong><strong>complex: <\/strong>The Abu Dhabi Department of Economic Development (ADDED) inked an MoU with Dubai-based energy solutions company <a target=\"_blank\" href=\"https:\/\/www.broaden-energy.com\/\" style=\"\" rel=\"noopener\">Broaden Energy<\/a> to establish a AED 1 bn hydrogen equipment manufacturing complex in Abu Dhabi, <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/b3ntpju-broaden-energy-invests-aed-billion-establish\" style=\"\" rel=\"noopener\">Wam<\/a> reports. This will be the first complex of its kind in the emirate. No further details were provided on the project or its expected timeline. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The new complex is expected to create jobs, foster economic growth, and industrial solutions<\/strong>, focusing on driving the region's hydrogen economy, according to the statement. Producing hydrogen equipment locally aims to strengthen the country\u2019s energy infrastructure, in line with the UAE\u2019s national hydrogen strategy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More on the UAE\u2019s hydrogen strategy:<\/strong> The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/a323face-01e3-41c9-84ee-f170e96a2bc1\/abu-dhabi-is-getting-a-renewable-energy-industrial-complex,-courtesy-of-uk-based-hycap-group\" style=\"\" rel=\"noopener\">national hydrogen strategy<\/a>, announced in June 2023, includes a hydrogen production goal of 1.4 mn tonnes by 2031. <\/p>\n<p class=\"tag-border-left\">IN OTHER ENERGY NEWS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>France-based tube manufacturer Vallourec extended its contract with the National Oil<\/strong><strong> Company of Abu Dhabi for an additional two years<\/strong> until January 2027, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1417.pdf\" style=\"\" rel=\"noopener\">press release<\/a>. The original contract was valued at around USD 900 mn. The extended contract entails Vallourec providing tubes and connections for onshore and offshore oil and gas fields, as well as additional services such as local pipe coating services and Vallourec's traceability system for tubes. Vallourec will also offer its operational storage facility equipped with a digital management system.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Vallourec also secured a new order for 27k tonnes of tubes,<\/strong> to be produced in their plants in France, Brazil, China, and Indonesia, with deliveries beginning in late 2024.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi\/\">Abu Dhabi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/hydrogen\/\">hydrogen<\/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=\"93146\" 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=\"93146\">\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\">INVESTMENT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/24\/uae-racks-up-usd-30-69-bn-in-greenfield-fdi-inflows\/\">\r\n                            The UAE racked up USD 30.69 bn in total FDI inflows for greenfields in 2023                        <\/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\/24\/uae-racks-up-usd-30-69-bn-in-greenfield-fdi-inflows\/\" 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\/24\/uae-racks-up-usd-30-69-bn-in-greenfield-fdi-inflows\/')\">\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\/24\/uae-racks-up-usd-30-69-bn-in-greenfield-fdi-inflows\/\">\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 racks up USD 30.69 bn in greenfield FDI inflows&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/24\/uae-racks-up-usd-30-69-bn-in-greenfield-fdi-inflows\/\">\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\/24\/uae-racks-up-usd-30-69-bn-in-greenfield-fdi-inflows\/&title=UAE racks up USD 30.69 bn in greenfield FDI inflows\">\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+racks+up+USD+30.69+bn+in+greenfield+FDI+inflows+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F24%2Fuae-racks-up-usd-30-69-bn-in-greenfield-fdi-inflows%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\/24\/uae-racks-up-usd-30-69-bn-in-greenfield-fdi-inflows\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1526.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93147\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/24\/uae-racks-up-usd-30-69-bn-in-greenfield-fdi-inflows\/1526-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1526.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1526.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1526.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1526.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93146\" class=\"content-area-description single-story post-93146 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-enterpriseam-uae tag-fdi tag-investment-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.e95ea5df-5a05-46a2-8e48-8b219e286a6a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Total foreign direct investment (FDI) flows into the UAE for greenfields<\/strong><strong> reached <\/strong><strong>USD 30.69 bn in 2023<\/strong>, up 35% y-o-y, according to the UN Trade and Development\u2019s (Unctad) <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1401.pdf\" style=\"\" rel=\"noopener\">2024 World Investment Report (pdf)<\/a>. The country\u2019s FDI outflows dropped by 10% y-o-y to USD 22.33 bn during the year, while its FDI outflow stock grew 9% y-o-y to USD 262.21 bn in the same period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is higher than previous estimates:<\/strong> Economy Minister Abdulla bin Touq Al Marri <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/cb672c36-428a-4a18-ad74-00572f7b1e10\/the-uae-was-the-second-most-popular-destination-for-inward-investment-in-greenfields-last-year\" style=\"\" rel=\"noopener\">said in<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/cb672c36-428a-4a18-ad74-00572f7b1e10\/the-uae-was-the-second-most-popular-destination-for-inward-investment-in-greenfields-last-year\" style=\"\" rel=\"noopener\">January<\/a> that total FDI flows into the UAE reached USD 23 bn in 2023. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- The UAE was <\/strong><strong>second only to the US<\/strong><strong> as a destination for foreign investment<\/strong> <strong>in<\/strong> <strong>greenfields <\/strong><strong>in 2023<\/strong>, rising two spots from its ranking the previous year, Unctad said earlier this year. The country announced over 1.3k greenfield FDI projects during the year, up 33% y-o-y, Unctad previously said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong>A greenfield project is an investment in which something new is created from the ground up, such as setting up a factory or hospital on undeveloped land. Brownfield projects, in comparison, are investments in existing structures, like adding a production line to an existing factory or upgrading a purchased facility.<\/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\/fdi\/\">FDI<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93148\" 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=\"93148\">\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\">STARTUP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/24\/dubai-future-foundation-meta-launch-ai-powered-business-incubator\/\">\r\n                            Dubai Future Foundation and Meta collaborate on AI-powered business incubator                        <\/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\/24\/dubai-future-foundation-meta-launch-ai-powered-business-incubator\/\" 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\/24\/dubai-future-foundation-meta-launch-ai-powered-business-incubator\/')\">\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\/24\/dubai-future-foundation-meta-launch-ai-powered-business-incubator\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Dubai Future Foundation + Meta launch AI-powered business incubator&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/24\/dubai-future-foundation-meta-launch-ai-powered-business-incubator\/\">\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\/24\/dubai-future-foundation-meta-launch-ai-powered-business-incubator\/&title=Dubai Future Foundation + Meta launch AI-powered business incubator\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Dubai+Future+Foundation+%2B+Meta+launch+AI-powered+business+incubator+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F24%2Fdubai-future-foundation-meta-launch-ai-powered-business-incubator%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\/24\/dubai-future-foundation-meta-launch-ai-powered-business-incubator\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1342.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93149\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/24\/dubai-future-foundation-meta-launch-ai-powered-business-incubator\/1342-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1342.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1342.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1342.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1342.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93148\" class=\"content-area-description single-story post-93148 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-startup-watch tag-startups wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.b7d49c86-e0b6-4c38-b5d4-1ef3f9c6099a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai Future Foundation (DFF) and Meta launched a joint business incubator <\/strong>at the AI Retreat 2024, hosted by the Dubai Centre for Artificial Intelligence (DCAI) and the National Program for Artificial Intelligence, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/ar\/article\/b3qsvka-dubai-future-foundation-meta-launch-business\" 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>The details: <\/strong>The project uses Meta's AI model LLAMA 3 aims and focuses on using Large Language Models (LLMs) to support product and service innovation across multiple sectors. The program covers five key areas: energy, transportation, aviation, tourism, and retail. The incubator includes a six-week program at DFF emphasizing design thinking and prototyping for business design challenges using LLMs. <\/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\/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=\"93150\" 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=\"93150\">\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\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/24\/adia-appoints-ex-jd-group-exec-to-lead-china-private-equity-al-seer-marine-taps-new-deputy-ceo\/\">\r\n                            Adia appoints ex-JD Group exec to lead China private equity                        <\/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 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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/160.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"160.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/160.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/160.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93150\" class=\"content-area-description single-story post-93150 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-abu-dhabi-investment-authority tag-al-seer-marine tag-china tag-enterpriseam-uae tag-fujairah-cement-industries tag-maritime tag-moves tag-shipping wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.3213bf88-14ec-46e7-b731-b11b8641bb25.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Abu Dhabi Investment Authority (Adia) named <\/strong><strong>Hugo Hu<\/strong><strong> (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/hugo-hu-b7181bb9\/?originalSubdomain=cn\" style=\"\" rel=\"noopener\">LinkedIn<\/a><\/strong><strong>) as China chief in<\/strong><strong> its private equity division<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-20\/abu-dhabi-s-biggest-fund-hires-ex-jd-executive-in-china?sref=YX0aeoLL\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. Hu, who formerly held the position of CFO at Jingdong Industrials, a subsidiary of China's leading retailer JD.com, takes on this new role as Adia sharpens its focus on private equity investments. The move also coincides with UAE companies strengthening ties with China and India, inkling USD bn agreements to boost investments and trade.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Seer Marine appointed Gunther Alvarado (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/gpa-51907825\/?originalSubdomain=aehttps:\/\/www.linkedin.com\/in\/gpa-51907825\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">Linkedin<\/a><\/strong><strong>) as deputy CEO<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1393.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. Alvarado has over 20 years of experience in the maritime industry, including 11 years at Al Seer Marine, and has been COO of the company since 2021. Al Seer Marine is an Abu Dhabi based global maritime organization, focusing on commercial shipping, yachting, boat building, large-scale 3D printing, and unmanned vessel platforms and capabilities. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi-investment-authority\/\">Abu Dhabi Investment Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/al-seer-marine\/\">Al Seer Marine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/fujairah-cement-industries\/\">Fujairah Cement Industries<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/maritime\/\">maritime<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/shipping\/\">shipping<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93152\" 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=\"93152\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/24\/dp-world-completes-usd-400-mn-callao-port-expansion\/\">\r\n                            DP World completes USD 400 mn Callao port expansion                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/24\/dp-world-completes-usd-400-mn-callao-port-expansion\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The expansion boosts the port\u2019s container handling capacity by 80%, the statement said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>DP World commenced the expansion project in September 2021 with an initial investment of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/3cea2736-fc61-4367-aaa1-182d9913758d\/dp-world-invests-over-usd-500-mn-to-expand-operations-in-latin-america\" style=\"\" rel=\"noopener\">USD 350 mn<\/a>. The Port of Callao handles almost 90% of Peru\u2019s container traffic, with DP World managing around 60% of the port\u2019s containerized cargo.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- DP World has more than doubled its container shipping capacity at Romania\u2019s<\/strong><strong> Constanta port<\/strong>, which is part of a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/149577af-5e0b-402f-bcb7-f26e7cac1403\/dp-world-pumps-eur-130-mn-of-investments-into%253cmark%253e-romania%253c%2Fmark%253e-to-boost-trade\" style=\"\" rel=\"noopener\">EUR 130 mn investment<\/a> by the company to boost its cargo capacity in the country, DP World Romania CEO Cosmin Carstea told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/dp-world-romania-doubles-container-shipping-capacity-black-sea-port-2024-06-18\/\" style=\"\" rel=\"noopener\">Reuters<\/a> in an interview. The company\u2019s container shipping capacity has now surged to 1.5 mn (TEUs) from the 700k TEUs handled in the year prior, Carstea said. The facilities can increase flows by some 2mn metric tons per year, the newswire added.<\/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\">INVESTMENTS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/plus.target.com\/\" style=\"\" rel=\"noopener\">Target Plus<\/a><\/strong><strong> inked an MoU with Italy\u2019s Impero Milano to establish a new investment firm in<\/strong><strong> Dubai,<\/strong> dubbed Impero Investment Dubai, specializing in global investments, <a target=\"_blank\" href=\"https:\/\/www.khaleejtimes.com\/business\/new-investment-firm-launched-in-dubai\" style=\"\" rel=\"noopener\">Khaleej Times<\/a> reports. The new firm looks to foster multiple projects and investments across various fields, focusing on ramping up economic ties between the UAE and Italy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DP World is looking to invest in Thailand\u2019s Land Bridge project<\/strong>, which aims to establish a logistics corridor between Chumphon in the Gulf of Thailand and Ranong on the Andaman Coast, <a target=\"_blank\" href=\"https:\/\/www.bangkokpost.com\/business\/investment\/2814046\/uae-logistics-firm-to-hold-talks-with-srettha\" style=\"\" rel=\"noopener\">Bangkok Post<\/a> reported, citing a statement from Thailand\u2019s transport minister. DP World Chairman and CEO Sultan Ahmed bin Sulayem is set to meet with Thai Prime Minister Srettha Thavisin on 1 July to discuss the matter. Thailand announced in September that it was looking for investors for its Land Bridge Project, which is set to cost THB 1 tn, <a target=\"_blank\" href=\"https:\/\/www.bangkokpost.com\/thailand\/general\/2651058\/land-bridge-project-to-attract-investors\" style=\"\" rel=\"noopener\">Bangkok Post<\/a> reported.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">TRANSPORT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai\u2019s Roads and Transport Authority (RTA) initiated the study and design stage for the<\/strong><strong> second phase of its Intelligent Traffic Systems Improvement and Expansion project<\/strong>, according to an RTA <a target=\"_blank\" href=\"https:\/\/www.rta.ae\/wps\/portal\/rta\/ae\/home\/news-and-media\/all-news\/NewsDetails\/launching-phase-ii-study-of-intelligent-traffic-systems-initiative\" style=\"\" rel=\"noopener\">statement<\/a>. This phase\u2019s goal is to achieve complete coverage of the UAE's main roads by 2026, up from the current 60%. The system's coverage of the road network will extend to 710 km from the existing 480 km.<\/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>US fines Emirates for operating in prohibited airspace: <\/strong>The US has fined Emirates Airlines USD 1.5 mn for operating flights with the designator code of JetBlue Airways in restricted airspace, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/us-fines-emirates-15-million-operating-prohibited-airspace-2024-06-13\/\" 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\">\n<p class=\"tag-border-left\">INS.- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Moody\u2019s assigned Dubai Ins. an A3 ins. financial strength rating (IFSR)<\/strong>, and revised its outlook to positive from stable, <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/ar\/article\/articledetail\/id\/1736009#:~:text=%D8%A3%D9%83%D8%AF%D8%AA%20%D9%88%D9%83%D8%A7%D9%84%D8%A9%20%D8%A7%D9%84%D8%AA%D8%B5%D9%86%D9%8A%D9%81%20%D8%A7%D9%84%D8%A7%D8%A6%D8%AA%D9%85%D8%A7%D9%86%D9%8A%20%D9%85%D9%88%D8%AF%D9%8A%D8%B2,%D8%AA%D8%B1%D9%83%D8%B2%20%D8%B9%D9%84%D9%89%20%D8%A7%D9%84%D8%AA%D8%A3%D9%85%D9%8A%D9%86%D8%A7%D8%AA%20%D8%A7%D9%84%D8%B4%D8%AE%D8%B5%D9%8A%D8%A9%20%D9%88%D8%A7%D9%84%D8%AA%D8%AC%D8%A7%D8%B1%D9%8A%D8%A9.\" style=\"\" rel=\"noopener\">Argaam<\/a> reports. The A3 rating highlights the company's strong commercial standing and brand, as well as its ranking as the fourth-largest entity in the UAE ins. 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\">BUSINESS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Dubai Chamber of Commerce established a Mexican Business Council<\/strong> to boost trade and investment ties between the UAE and Mexico, <a target=\"_blank\" href=\"https:\/\/wam.ae\/ar\/article\/b3rzj5i-%D8%BA%D8%B1%D9%81%D8%A9-%D8%AA%D8%AC%D8%A7%D8%B1%D8%A9-%D8%AF%D8%A8%D9%8A-%D8%AA%D8%AF%D8%B4%D9%86-%D9%85%D8%AC%D9%84%D8%B3-%D8%A7%D9%84%D8%A3%D8%B9%D9%85%D8%A7%D9%84-%D8%A7%D9%84%D9%85%D9%83%D8%B3%D9%8A%D9%83%D9%8A\" style=\"\" rel=\"noopener\">Wam<\/a> reports. There are currently 108 Mexican companies registered as members of the Dubai Chamber of Commerce as of 1Q 2024. <\/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>The Dubai Electricity and Water Authority (Dewa) <\/strong><strong>commissioned<\/strong><strong> an AED 287.8 mn water<\/strong> <strong>reservoir in Enkhali<\/strong> to boost water supply and meet growing demands, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1419.pdf\" style=\"\" rel=\"noopener\">press release<\/a>. The reservoir has a capacity of 120 mn imperial gallons (MIG) and is connected to Dubai\u2019s water network. New reservoirs being built in Enkhali, Lusaily, Hassyan, and Hatta will increase Dubai's storage capacity to 1121.3 MIG of desalinated water when completed, from 1001.3 currently.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">REGULATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PM greenlights boards of Dubai Women Establishment + Emirates International<\/strong><strong> Accreditation:<\/strong> The <a target=\"_blank\" href=\"https:\/\/eiac.gov.ae\/\" style=\"\" rel=\"noopener\">Emirates International Accreditation Centre<\/a> is set to establish its first board of directors as per a directive issued by Prime Minister Sheikh Mohammed bin Rashid Al Maktoum, according to a <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2024\/june\/21-06\/emirates-international-accreditation-centre\" style=\"\" rel=\"noopener\">statement<\/a> from the Dubai Media Office. The board will be headed by Dubai Municipality Director General Dawoud Al-Hajri, with Hilal Humaid serving as Saeed Al Kaabi as vice chairman. Al Maktoum also directed the establishment of a board of directors for the <a target=\"_blank\" href=\"https:\/\/dwe.gov.ae\/en\" style=\"\" rel=\"noopener\">Dubai Women Establishment<\/a>, to be chaired by its Managing Director Mina Ghanem Al Marri, the Dubai Media Office said in a separate <a target=\"_blank\" href=\"https:\/\/mediaoffice.ae\/en\/news\/2024\/june\/20-06\/mohammed-bin-rashid-issues-decree-form-dwc\" 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\">TECH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai launches new initiative for prototypes and pilot models: <\/strong>Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum approved the launch of the Dubai Future Solutions \u2013 Prototypes for Humanity initiative, in a bid to advance innovative prototypes and pilot models, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3t6m27-hamdan-bin-mohammed-approves-next-phase-dubai\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The initiative will showcase top innovations annually at the Dubai Future District, and facilitate job creation and investment windows via the Dubai-based innovation ecosystem <a target=\"_blank\" href=\"https:\/\/area2071.ae\/\" style=\"\" rel=\"noopener\">AREA 2071<\/a> and <a target=\"_blank\" href=\"https:\/\/www.dubaifuture.ae\/initiatives\/future-design-and-acceleration\/dubai-future-accelerators\/\" style=\"\" rel=\"noopener\">Dubai Future Accelerators<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Backers: <\/strong>The initiative is backed by <a target=\"_blank\" href=\"https:\/\/www.difc.ae\/\" style=\"\" rel=\"noopener\">Dubai International Financial Centre<\/a>, <a target=\"_blank\" href=\"https:\/\/dubaiculture.gov.ae\/\" style=\"\" rel=\"noopener\">Dubai Culture,<\/a> and national programs including Dubai Research and Development Program and Dubai Robotics and Automation Program. Hussain Sajwani \u2013 DAMAC Foundation also committed AED 100 mn to the initiative, as part of a cooperation agreement inked with Dubai Future Foundation.<\/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\/business\/\">business<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai-chamber\/\">Dubai Chamber<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai-insurance\/\">Dubai Insurance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investments\/\">investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/regulation\/\">regulation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/security\/\">security<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/tech\/\">tech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/water\/\">water<\/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=\"93154\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"93154\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/24\/eu-tariffs-on-chinese-evs-might-possibly-ease-up\/\">\r\n                            EU tariffs on Chinese EVs might possibly ease up                        <\/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\/24\/eu-tariffs-on-chinese-evs-might-possibly-ease-up\/\" 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 move follows an anti subsidy investigation initiated by the supranational political union last year against Chinese EVs. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Are the tariffs already hitting trade volumes? <\/strong>German exports to China dropped 14% y-o-y last month, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/f4d83b55-3277-4bf2-8185-9f3d10059c40\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports separately. Although tensions could be rising between Beijing and Berlin over the EV tariffs, analysts and economists suggest the export decline is likely attributable to other factors, including weaker auto sales in China or \u201ca lagged impact of the Red Sea blockage.\u201d It doesn\u2019t look like this reading is the start of a new downtrend,\u201d Oxford Economics economist Oliver Rakau said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>As one door opens, another door closes: <\/strong>The Canadian government is also mulling passing its own set of fresh tariffs on Chinese-made EVs, in a bid to match actions by the US and EU, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-20\/canada-prepares-potential-tariffs-on-china-electric-vehicles-after-us-eu-moves\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing people familiar with the matter. The decision is still pending, with public consultations about the matter expected to kick off soon, the business information service cites officials as saying.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- The Biden administration also revealed plans <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-14\/biden-imposes-sweeping-tariffs-on-chinese-chips-minerals-evs\" style=\"\" rel=\"noopener\">last month<\/a><\/strong><strong> to nearly<\/strong><strong> quadruple tariffs on Chinese EVs <\/strong>to up to a final rate of 102.5%, as part of an election-year bid to ramp up domestic manufacturing in critical industries. The government accused the Chinese market of \u201ccheating\u201d on trade, and dumping underpriced goods into international markets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Chinese EVs are priced notably more affordably than Western brands, with some selling<\/strong><strong> for 20% cheaper in the EU<\/strong>, on the back of Chinese companies supplying a significant portion of global EV batteries, <a target=\"_blank\" href=\"https:\/\/www.aljazeera.com\/economy\/2024\/6\/14\/for-chinas-booming-ev-industry-us-and-eu-markets-a-tough-nut-to-crack\" style=\"\" rel=\"noopener\">Al Jazeera<\/a> reports. Chinese EVs dominated an 8.2% market share in the EU in 2023, with China\u2019s BYD surpassing Tesla as the world's largest electric car company in 2023. Predictions place Chinese EVs as comprising an 11% market share in the EU in 2024 and possibly 20% by 2027.<\/p>\n<p class=\"tag-border-left\">ALSO FROM PLANET FINANCE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Currencies in emerging markets have been on a losing streak since the beginning of <\/strong><strong>2024<\/strong>, falling towards their worst start to the year since 2020, pressured by a stronger-than-expected USD and carry traders fleeing Latin American markets, writes the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/000bfcb5-b1c6-4287-88de-f1e2b7b268ec\" style=\"\" rel=\"noopener\">Financial Times<\/a>. JPMorgan\u2019s index for currencies in emerging markets has dipped 4.4% in 2024 \u2014 a dip more than double the size of their decline over the past three years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Carry trade investors have been stepping back from some larger EM: <\/strong>Despite investor appetite growing in the beginning of the year for the carry trade in emerging markets, local interest rate uncertainty and elections spooking the markets have destroyed much of the gains made. This is particularly true in Latin America, where the MXN has fallen nearly 10% against the greenback after Mexico\u2019s election of Claudia Sheinbaum <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1d17013b-f845-442e-8328-b45210c62ddf\/this-weekend:-madbouly-to-form-the-new-cabinet\" style=\"\" rel=\"noopener\">spooked<\/a> the markets and other currencies in the region followed suit. However, some investors are instead focusing on local currency bonds from smaller countries working their way out of economic difficulties with high interest rates like Egypt and Nigeria, the salmon-colored paper writes.<\/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>Major Asian benchmarks are each down around 0.6% this morning <\/strong>as the trading week gets started, with only the Nikkei bucking the trend \u2014 it\u2019s flat. Traders are looking forward to Australian and Japanese inflation data this week. <strong>US stock futures are down slightly <\/strong>overnight as traders prepare for the last week of the first half of 2024. <\/p>\n<p><a target=\"_blank\" id=\"t.87f9b62bcbadcaf5f2516a1a97cf70006261db20\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p>\n<div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,013<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: -5.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,012<\/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: -1.2%)<\/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>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\">3415.4<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: -11.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : AED<\/strong><strong> CBUAE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 3.67<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 3.67<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EIBOR<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.1% o\/n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.4% 1 yr<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,730<\/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\">+2.0% (YTD: -2.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">27,062<\/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\">+2.4% (YTD: +8.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,465<\/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: +14.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,238<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: +6.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;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\">4,907<\/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\">-0.8% (YTD: +8.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;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 85.24<\/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%<\/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 2.71<\/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%<\/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>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 2,331.20<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.6%<\/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><a target=\"_blank\" href=\"https:\/\/www.coindesk.com\/price\/bitcoin\" style=\"\" rel=\"noopener\">BTC<\/a><\/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 64,015.00<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: +51.4%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The DFM rose 0.6% on Friday<\/strong> on turnover of AED 382.6 mn. The index is down 1.17% 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>AL Salam Sudan (+14.9%), Drake &amp; Scull International (+3.6%) and Commercial Bank of Dubai (+3%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Dubai Islamic Insurance and Reinsurance Co. (-4%), Watania International Holding (-3.6%) and Takaful Emarat (-3.5%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over on the ADX<\/strong>, the index closed up 0.7% on turnover of AED 1.49 bn. Meanwhile Nasdaq Dubai closed down 0.6%.<\/p>\n<p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The National Bank of Ras Al Khaimah approved issuing up to USD 750 mn in new <\/strong><strong>capital securities<\/strong>, in a bid to ramp up its capital adequacy ratio, it said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1416.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>. The new capital securities will comprise up to USD 500 mn in additional Tier 1 capital and up to USD 250 mn in Tier 2 Capital.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- RAK Properties boosts issued capital to AED 3 bn: <\/strong><a target=\"_blank\" href=\"https:\/\/www.rakproperties.ae\/\" style=\"\" rel=\"noopener\">RAK Properties<\/a> obtained approval from the SCA to raise its issued capital to AED 3 bn, divided into three bn shares priced at AED 1 each and fully paid in cash, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1418.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>. Previously, RAK Properties' issued capital was AED 2 bn, divided into two bn shares. This follows the company\u2019s move to approve distributing 4% of the company's capital \u2014 valued at AED 80 mn \u2014 as bonus shares, increasing the company\u2019s total capital by AED 920 mn in March. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The International Holding Company\u2019s (IHC)\u2019s board approved a share buyback program<\/strong>, allowing the company to repurchase of AED 5 bn of its shares, representing 0.6% of the conglomerate\u2019s total share capital, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1425.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> IHC announced the program in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f45c9dc2-e435-498e-a503-03cef4ce6dac\/ihc-reports-bottom-line-growth-in-1q-2024,-plans-aed-5-bn%253cmark%253e-share-buyback%253c%2Fmark%253e#:~:text=IHC%20plans%20to,pending%20board%20approval.\" style=\"\" rel=\"noopener\">May<\/a>, aiming to \u201cenhance shareholder value through increased earnings per share.\u201d The program is set to take place over one year, during which IHC will cancel the shares after repurchasing them.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Takaful Emarat\u2019s board approved a AED 60 mn capital increase<\/strong> to AED 185 mn through the issuance of new shares, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1424.pdf\" style=\"\" rel=\"noopener\">DFM filing (pdf)<\/a>. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/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=\"93156\" 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=\"93156\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/div>\r\n\r\n                    <p class=\"f-graphik\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/24\/al-marri-talks-sustainable-tourism-in-moscow-uae-pledges-emergency-assistance-to-sudan-south-sudan\/\">\r\n                            Al Marri talks sustainable tourism in Moscow                        <\/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\/24\/al-marri-talks-sustainable-tourism-in-moscow-uae-pledges-emergency-assistance-to-sudan-south-sudan\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/24\/al-marri-talks-sustainable-tourism-in-moscow-uae-pledges-emergency-assistance-to-sudan-south-sudan\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1390.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93157\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/24\/al-marri-talks-sustainable-tourism-in-moscow-uae-pledges-emergency-assistance-to-sudan-south-sudan\/1390-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1390.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1390.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1390.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1390.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93156\" class=\"content-area-description single-story post-93156 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-brics tag-diplomacy tag-enterpriseam-uae tag-russia tag-sudan tag-united-nations 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\/.9dfa761d-168a-41a3-8a2f-0b6d8f713de6.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Economy Minister Abdullah bin Touq Al Marri discussed sustainable tourism cooperation<\/strong><strong> at the BRICS Tourism Ministers\u2019 Meeting<\/strong> in Moscow, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/13zbghe-uae-participates-brics-tourism-ministers-meeting\" style=\"\" rel=\"noopener\">Wam<\/a> writes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE pledges USD 25 mn for Sudan and South Sudan:<\/strong> The Foreign Affairs Ministry inked an agreement with the <a target=\"_blank\" href=\"https:\/\/www.google.com\/aclk?sa=l&ai=DChcSEwivr8j6kPKGAxVL8HkEHdLODbEYABAAGgJ3Zg&ase=2&gclid=Cj0KCQjwj9-zBhDyARIsAERjds1TW4TBIjwAPL-zmHWV8ZX71UXaP0dj9bIru7lDGLx2P5yCUme1vVMaAinLEALw_wcB&sig=AOD64_0OA5RZo0yhTv6EzQ2mWQgvAj6k3A&q&nis=4&adurl&ved=2ahUKEwj9zL_6kPKGAxXnVKQEHWumDdcQ0Qx6BAgIEAE\" style=\"\" rel=\"noopener\">UN World Food Programme<\/a> yesterday to provide USD 25 mn for emergency food assistance in Sudan and South Sudan, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3t6m28-uae-contributes-25-million-world-food-programme\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The agreement will see the UAE commit USD 20 mn for Sudan and USD 5 mn for South Sudan, targeting refugees, host communities, and internally displaced persons affected by the crisis.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE + Hungary sign space, agriculture, and sustainable development MoUs:<\/strong> The fourth session of the UAE-Hungary Joint Economic Committee (JEC) was held in Budapest last week, seeing Economy Minister Abdullah bin Touq Al Marri and Hungarian Foreign Minister Peter Szijj\u00e1rt\u00f3 sign several MoUs, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/13zbghd-uae-hungary-agree-developing-economic-partnership\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The meeting emphasized growing economic ties and explored cooperation in sectors such as renewable energy, technology, tourism, and infrastructure. The MoUs focused on agricultural cooperation and space research, aiming to foster sustainable development.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/brics\/\">Brics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/sudan\/\">Sudan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/united-nations\/\">United Nations<\/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=\"93158\" 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\/24\/93158-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93158\" class=\"content-area-description single-story post-93158 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;\">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>18-20 November (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.fastmarkets.com\/events\/middle-east-iron-steel\/\" style=\"\">Fastmarkets Middle East Iron & Steel 2024<\/a><\/span><span>, Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>23 November (Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wirelessfestival.me\/\" style=\"\">Wireless Festival Middle East<\/a><\/span><span style=\"font-weight:400;\">, Etihad Park, Abu Dhabi. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">27-28 November (Wednesday-Thursday): RAK Energy Summit, Al Hamra International Exhibition and Conference Centre, Ras Al Khaimah.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2-3 December (Monday-Tuesday): National Day, public holiday.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>5-8 December (Thursday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/tickets.formula1.com\/en\/f1-3312-abu-dhabi?pgs=1&gad_source=1&gclid=CjwKCAjw_e2wBhAEEiwAyFFFo5lKSTphNqFv_Ectz0OzLo0NjMI0mNztBGynm9Rtn7X60C1_KW-XpBoCweIQAvD_BwE\" style=\"\">Formula 1 Etihad Airways Abu Dhabi Grand Prix<\/a><\/span><span style=\"font-weight:400;\">, Yas Marina Circuit. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">8-12 December (Sunday-Thursday): International Desalination and Reuse Association World Congress, Adnec Centre Abu Dhabi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>9-10 December (Saturday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/b.tc\/conference\/mena\" style=\"\">The Bitcoin Mena Conference<\/a><\/span><span style=\"font-weight:400;\">, Adnec Centre Abu Dhabi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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>GDP growth accelerates in 4Q 2023 | Brookfield snaps majority stake in Gems | Adia, Advent get in on Fisher Investments | Masdar\u2019s latest in 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