{"id":93180,"date":"2024-06-25T00:00:00","date_gmt":"2024-06-25T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=93180"},"modified":"2025-12-15T00:40:51","modified_gmt":"2025-12-15T00:40:51","slug":"dubai-plans-major-drainage-overhaul-project","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/dubai-plans-major-drainage-overhaul-project\/","title":{"rendered":"Dubai plans major drainage overhaul project"},"content":{"rendered":"<section id=\"93182\" 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=\"93182\">\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\/25\/no-slowdown-in-dubai-rent-prices-this-year-cost-of-living-is-on-the-rise\/\">\r\n                            THIS MORNING: No slowdown in Dubai rent prices this year + Cost of living is on the rise                        <\/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\/25\/no-slowdown-in-dubai-rent-prices-this-year-cost-of-living-is-on-the-rise\/\" target=\"_blank\">\n                    Open in new 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1454.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93183\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/no-slowdown-in-dubai-rent-prices-this-year-cost-of-living-is-on-the-rise\/1454-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1454.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1454.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1454.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1454.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93182\" class=\"content-area-description single-story post-93182 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-dubai tag-economy tag-emirates-steel-arkan tag-ipo-watch tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.4471b0e0-5fd9-4112-9084-e5dbd16cd6f9.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, wonderful people.<\/strong><span style=\"background-color: transparent;\"> We have another relatively busy issue for you today, leading with news of Dubai\u2019s massive infrastructure upgrade project, as well as (yet more) M&amp;A news \u2014 including Adnoc and Covestro entering formal negotiations after Adnoc submitted a revised takeover bid.<\/span><\/p>\n<p class=\"tag-border-left\">WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a>  <strong>#1- <\/strong><strong>Dubai\u2019s real estate market isn\u2019t slowing down this year: <\/strong>Real estate and rent prices in Dubai are unlikely to \u201cgo flat\u201d or decline this year \u2014 despite previous analyst forecasts \u2014 as transaction activity in the market remains strong, Bloomberg Middle East reporter Zeinab Fattah said (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/videos\/2024-06-24\/dubai-real-estate-remains-hot-video\" style=\"\" rel=\"noopener\">watch, runtime: 2:59<\/a>). The boom in Dubai\u2019s real estate is now expected to be sustained until 2025-2027, at which point they can begin to cool as new home deliveries begin hitting the market, Fattah said. The continued rise in rent prices reflects a shift that the \u201ctransient nature of Dubai seems to be well and over,\u201d CBRE Group\u2019s head of research Taimur Khan told the <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-22\/dubai-real-estate-s-resilience-may-signal-end-of-boom-bust-cycle\" style=\"\" rel=\"noopener\">business information service<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Making a dent:<\/strong> Recent home deliveries were swiftly absorbed without impacting prices, but upcoming deliveries are anticipated to be more significant in volume. Analysts predict that around 270k homes will be delivered throughout the upcoming period. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Single-family home rentals top the price list:<\/strong> Since the end of 2020, city-wide property prices have surged by 60%, while rent prices have climbed by 83%. The most significant rise has been in single-family home rentals, which now average USD 96k per year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA POINT- Rents in the emirate are expected to climb 10% over the next six months<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.khaleejtimes.com\/uae\/dubai-rents-set-to-jump-10-in-remainder-of-2024\" style=\"\" rel=\"noopener\">Khaleej Times<\/a> reports, citing Jacob Bramley, senior leasing manager at <a target=\"_blank\" href=\"https:\/\/www.bhomes.com\/en\" style=\"\" rel=\"noopener\">Betterhomes<\/a>. The handover pipeline over the next two quarters is anticipated to sustain the \u201csteady [rent] growth of 5-10% over the next six months,\u201d Bramley said. Average rents across the emirate have jumped 15.7% y-o-y in 1H 2024, with apartments and townhouses rising about 15% y-o-y and villa rents seeing an 18% y-o-y surge. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The expected climb will follow a 13-quarter consecutive increase<\/strong>, with Dubai drawing demand \u201cfrom everywhere even though the Russian buyers have declined in the market,\u201d Prathyusha Gurrapu, head of research and advisory at Cushman &amp; Wakefield Core told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-22\/dubai-real-estate-s-resilience-may-signal-end-of-boom-bust-cycle#:~:text=Instead%2C%20home%20values%20have%20risen%20for%2015%20consecutive%20quarters%20and%20are%20up%2020%25%20for%20the%20year%20ending%20May%2C%20according%20to%20Cushman%20%26%20Wakefield%20Core.%20Rents%20have%20climbed%20for%2013%20straight%20quarters%2C%20although%20at%20a%20slightly%20slower%20clip%20than%20the%20previous%20year.\" style=\"\" rel=\"noopener\">Bloomberg<\/a>.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#2- Emirates Steel Arkan + Itochu kick off feasibility study on iron processing plant: <\/strong>Japan\u2019s Itochu Corporation and Emirates Steel Arkan will jointly develop a new low-carbon iron processing plant in Abu Dhabi, according to a press release picked up by <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/projects\/industry\/japans-itochu-emirates-steel-arkan-begin-feasibility-study-on-new-uae-plant-report-i9peietu\" style=\"\" rel=\"noopener\">Zawya<\/a>. The plant will be built together with Japan\u2019s JFE Steel and will produce around 2.5 mn metric tonnes of reduced iron from 2027 onward. The supplier of iron ore will be CSN Mineracao, a Brazilian company in which Itochu has a stake.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Ajman\u2019s Department of Land and Real Estate Regulation will kick off its building<\/strong> <strong>classification process next Monday, 1 July<\/strong>, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3ts1u9-ajman-launch-building-classification-starting-1st\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The initiative will see a team of specialized professionals assess buildings and real estate facilities for compliance with standards and regulations, in a bid to ensure service quality and provide transparency for investors interested in renting or purchasing property in the emirate. The process will span three months.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- <\/strong><strong>Shanghai-based planemaker Comac has a good chance of breaking the Boeing-Airbus<\/strong><strong> duopoly over the jet market within the next 10 years<\/strong>, CEO of aircraft lessor Dubai Aerospace Enterprise Firoz Tarapore told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/aircraft-lessor-dae-sees-chinas-comac-breaking-airbus-boeing-duopoly-2024-06-21\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. Despite difficulty in obtaining certifications from European and US regulators, Comac is garnering attention as the other planemakers face labor shortages and engine issues resulting in delivery delays and disrupting airline growth plans, the newswire added. \u201cOver the next decade COMAC has a unique opportunity to break this duopoly into a triopoly because on the one hand Airbus is sold out, and Boeing is having production problems,\u201d Tarapore said.<\/p>\n<p class=\"tag-border-left\">PUBLIC SERVICE ANNOUNCEMENTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Watch out for fraud:<\/strong> The Abu Dhabi Global Market\u2019s Financial Services Regulatory Authority (FSRA) issued <a target=\"_blank\" href=\"https:\/\/www.adgm.com\/media\/announcements\/adgms-fsra-issues-alert-concerning-fraudulent-website-sterwa-holdings\" style=\"\" rel=\"noopener\">a warning<\/a> against Sterwa Holdings, whose website falsely claims it is regulated by the FSRA, which the regulatory body believes could be aimed at \u201cconducting fraud, by harvesting personal identifiable information and other credentials.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The deadline to redeem e-AED balance is the end of this week<\/strong>, the Finance Ministry said, according to <a target=\"_blank\" href=\"https:\/\/www.alkhaleej.ae\/2024-06-23\/%D9%86%D9%87%D8%A7%D9%8A%D8%A9-%D8%A7%D9%84%D8%A3%D8%B3%D8%A8%D9%88%D8%B9-%D8%A2%D8%AE%D8%B1-%D9%85%D9%87%D9%84%D8%A9-%D9%84%D8%A7%D8%B3%D8%AA%D8%B1%D8%AF%D8%A7%D8%AF-%D8%B1%D8%B5%D9%8A%D8%AF-%D8%A7%D9%84%D8%AF%D8%B1%D9%87%D9%85-%D8%A7%D9%84%D8%A5%D9%84%D9%83%D8%AA%D8%B1%D9%88%D9%86%D9%8A\/%D8%A3%D8%B3%D9%88%D8%A7%D9%82-%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA\/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF\" style=\"\" rel=\"noopener\">Al Khaleej<\/a>. While the Finance Ministry will be shutting down e-AED cards, they have ensured that customers can recover any of their remaining balance before 30 June. The process can be completed by submitting a request on the <a target=\"_blank\" href=\"https:\/\/mof.gov.ae\/e-dirham-cards-balance-redemption-service-ar\/\" style=\"\" rel=\"noopener\">ministry\u2019s website<\/a>. <\/p>\n<p class=\"tag-border-left\">DATA POINT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#1- IPOs in the UAE have raised a combined AED 4.8 bn since the beginning of the year<\/strong>, with total demand for the three initial public offerings of 2024 coming in at some AED 404 bn, <a target=\"_blank\" href=\"https:\/\/wam.ae\/ar\/article\/13zbfsh-%D8%B7%D8%B1%D9%88%D8%AD%D8%A7%D8%AA-%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D8%A7%D9%84%D8%A3%D9%88%D9%84%D9%8A%D8%A9-%D8%AA%D8%AC%D9%85%D8%B9-%D8%B7%D9%84%D8%A8%D8%A7%D8%AA-%D9%82%D9%8A%D8%A7%D8%B3%D9%8A%D8%A9-%D8%A8%D9%82%D9%8A%D9%85%D8%A9\" 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>ICYMI-<\/strong> State-owned <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/de573f5b-c1df-4b13-ba64-58e95fdfcffb\/parkin-share-price-rises-35%2525-on-market-debut\" style=\"\" rel=\"noopener\">Parkin<\/a> and supermarket chain <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/65ee8d31-39fa-4506-ac4e-bdf3e240be04\/%253cmark%253espinneys%253c%2Fmark%253e-share-jump-on-market-debut\" style=\"\" rel=\"noopener\">Spinneys<\/a> each debuted on the DFM this year, while Alef Education went public on the ADX <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/8f0fda5b-4767-467e-a4af-d1219b067b0e\/abu-dhabi%25e2%2580%2599s-first-ipo-in-2024-tumbles-18%2525-on-market-debut\" style=\"\" rel=\"noopener\">earlier this month<\/a>. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#2- Dubai has jumped<\/strong><strong> three spots<\/strong><strong> in Mercer\u2019s cost of living <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.mercer.com\/en-ae\/insights\/total-rewards\/talent-mobility-insights\/cost-of-living\/\" style=\"\" rel=\"noopener\">leaderboard<\/a><\/strong>, making it the most expensive Arab city on the index and number 15 worldwide, according to <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/65001\/%D8%A5%D9%86%D9%81%D9%88%D8%BA%D8%B1%D8%A7%D9%81-%D8%A7%D9%84%D9%82%D8%A7%D9%87%D8%B1%D8%A9-%D8%AA%D8%AA%D9%82%D8%AF%D9%85-%D8%A8%D8%B3%D8%B1%D8%B9%D8%A9-%D8%B9%D9%84%D9%89-%D9%85%D8%A4%D8%B4%D8%B1-%D8%A3%D8%BA%D9%84%D9%89-%D9%85%D8%AF%D9%86-%D8%A7%D9%84%D8%B9%D8%A7%D9%84%D9%85\/\" style=\"\" rel=\"noopener\">Ashraq Business<\/a>. Abu Dhabi is the runner-up in the ranking of Arab cities, remaining at number 43 worldwide.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Around AED 1 bn is spent on developing Al Maktoum International Airport\u2019s<\/strong> <strong>infrastructure annually<\/strong>, Dubai South CEO Khalifa Al Zaffin told <a target=\"_blank\" href=\"https:\/\/www.cnbcarabia.com\/124791\/2024\/24\/06\/%D8%A7%D9%84%D8%B1%D8%A6%D9%8A%D8%B3-%D8%A7%D9%84%D8%AA%D9%86%D9%81%D9%8A%D8%B0%D9%8A-%D9%84%D9%85%D8%A4%D8%B3%D8%B3%D8%A9-%D9%85%D8%AF%D9%8A%D9%86%D8%A9-%D8%AF%D8%A8%D9%8A-%D9%84%D9%84%D8%B7%D9%8A%D8%B1%D8%A7%D9%86-%D9%88%D8%AF%D8%A8%D9%8A-%D8%A7%D9%84%D8%AC%D9%86%D9%88%D8%A8-%D9%84%D9%80-CNBC-%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9:-%D9%85%D9%86-8-%D8%A5%D9%84%D9%89-18-%D8%B7%D8%A7%D8%A6%D8%B1%D8%A9-%D9%85%D9%86-flydubai-%D8%B3%D8%AA%D9%86%D8%AA%D9%82%D9%84-%D8%A5%D9%84%D9%89-%D9%85%D8%B7%D8%A7%D8%B1-%D8%A2%D9%84-%D9%85%D9%83%D8%AA%D9%88%D9%85-%D9%81%D9%8A-2026\" style=\"\" rel=\"noopener\">CNBC Arabia<\/a> in an interview. Total investments in Dubai South amount to at least AED 27 bn, with a 50%-60% contribution from the private sector, according to Zaffin. FlyDubai is expected to transfer approximately 8 to 18 aircrafts to Al Maktoum International Airport by 2026, Al Zaffin announced.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Dubai saw motor ins. premiums spike due to April\u2019s rains<\/strong> with Chinese car models up 26% and Japanese and Korean up 25%, <a target=\"_blank\" href=\"https:\/\/gulfnews.com\/business\/retail\/in-uae-chinese-japanese-korean-models-record-highest-motor-insurance-hikes-1.1719203964239\" style=\"\" rel=\"noopener\">Gulf News<\/a> reports. German and American cars faced a 9% increase, while EVs like Tesla rose by 10-15%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- Registrations for the UAE domain \u201c.ae\u201d surpassed 350k registrations by 2024<\/strong>, with some investors selling domain names at multiples of their initial cost, according to <a target=\"_blank\" href=\"https:\/\/www.albayan.ae\/economy\/uae\/2024-06-24-1.4894472\" style=\"\" rel=\"noopener\">Al Bayan<\/a>. While registering a domain generally costs around USD 34, some attractive domains can multiply in value. A unique domain such as \u201cauto.ae\u201d was sold for USD 101k in June 2022, and \u201cinvest.ae\u201d was sold for USD 75k in August 2021.<\/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>Would you like 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>The big business story this morning: Nvidia shares have now slid more than 16% since <\/strong><strong>Thursday<\/strong>, when their rise briefly made the company the most valuable in the world ahead of Apple and Microsoft. The company\u2019s shares tumbled 7% yesterday, helping drag the Nasdaq down 1.1% for the day. (The Dow Jones Index, which doesn\u2019t include Nvidia, was up 0.7%.) That\u2019s left traders reading sheeps\u2019 entrails running technical analysis in search of a support line. <strong>Want to go deeper?<\/strong> Check out the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/7332b1f8-cf7c-4bfa-82f4-88d0deb23f98\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/finance\/stocks\/global-stocks-markets-dow-news-06-24-2024-0c66c410\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-24\/nvidia-s-13-stock-rout-has-traders-scouring-charts-for-support?srnd=homepage-middle-east&amp;sref=mmeFTDW1\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Climate change is still getting big play on the front pages <\/strong>of major global business news sites. Bloomberg looks at <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/features\/2024-06-24\/hajj-heat-deaths-saudi-arabia-s-soaring-temperatures-endanger-pilgrims\" style=\"\" rel=\"noopener\">Saudi\u2019s heat-preparedness<\/a> after some 1.3k pilgrims died on Hajj this year and a <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/us-northeast-may-finally-get-relief-punishing-heat-wave-2024-06-24\/\" style=\"\" rel=\"noopener\">heat dome<\/a> remains parked over the US and parts of Canada. Dubai, meanwhile, will spend <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-24\/dubai-to-spend-8-billion-on-drainage-after-rains-paralyzed-city\" style=\"\" rel=\"noopener\">USD 8 bn upgrading its drainage system<\/a> after rains paralyzed the emirate in April.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>KEEP AN EYE ON the global logistics system<\/strong>, where an uptick in Houthi attacks on Red Sea shipping, drought in central America, and worker strikes in the United States, Canada, and Germany have \u201cintensified upheaval in shipping.\u201d Read: <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/06\/24\/business\/global-shipping-rates.html\" style=\"\" rel=\"noopener\">\u2018It\u2019s all happening again.\u2019 The supply chain is under strain<\/a> in the New York Times.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Briefly noted: <\/strong>The US and UK press are trumpeting that <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/465b6f96-65db-4295-9aee-ef9c1339a992\" style=\"\" rel=\"noopener\">Wikileaks founder Julian Assange is<\/a><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/465b6f96-65db-4295-9aee-ef9c1339a992\" style=\"\" rel=\"noopener\">set to be freed<\/a> after striking a plea bargain with the United States. And former European Investment Bank President Werner Hoyer <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/9b531104-3e84-4158-a410-6921b4b0ef07\" style=\"\" rel=\"noopener\">is under investigation<\/a> for corruption. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ELECTION WATCH- <\/strong>French Prime Minister Gabriel Attal takes on his two top challengers in a debate today, with President Emmanuel Macron warning of <a target=\"_blank\" href=\"https:\/\/www.politico.eu\/article\/emmanuel-macron-civil-war-far-right-national-rally-far-left-france-unbowed-france-elections\/\" style=\"\" rel=\"noopener\">\u201ccivil war\u201d<\/a> if the far-right or far-left win at the ballot box. The two-step parliamentary election process starts on Sunday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Up next: <\/strong>Rishi Sunak and Labour leader Keir Starmer face off in a debate tomorrow, while Joe Biden and Donald Trump will clash on Thursday. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai\/\">Dubai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/economy\/\">Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/emirates-steel-arkan\/\">Emirates Steel Arkan<\/a>\n  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issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/43009.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/hap.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/20617.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>From OUR FAMILY to YOURS<\/span>\r\n                <\/div>\r\n            <\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93185\" 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=\"93185\">\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\">INFRASTRUCTURE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/dubai-plans-aed-30-bn-drainage-infrastructure-project\/\">\r\n                            Dubai plans AED 30 bn drainage infrastructure project                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li 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decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1861.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93186\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/dubai-plans-aed-30-bn-drainage-infrastructure-project\/1861-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1861.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1861.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1861.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1861.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93185\" class=\"content-area-description single-story post-93185 post type-post status-publish format-standard has-post-thumbnail hentry category-infrastructure tag-dubai tag-enterpriseam-uae tag-infrastructure 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\/.ba76a20f-16e9-48b3-9255-571217e84439.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Dubai<\/strong><strong> is planning to spend AED 30 bn to upgrade its drainage network<\/strong>, after record flooding in April damaged city infrastructure and disrupted operations, Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum <a target=\"_blank\" href=\"https:\/\/x.com\/HHShkMohd\/status\/1805221537265389704\" style=\"\" rel=\"noopener\">said on X<\/a> yesterday. The planned drainage network will handle up to 20 mn cubic meters of water daily, and increase the emirate\u2019s rainwater drainage capacity eightfold, Sheikh Mohammed said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Project timeline: <\/strong>Construction for the drainage network will kick off in stages, with the handover scheduled by 2033.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Seeing the cup half full:<\/strong> The torrential storms \u2014 which saw more than a year\u2019s worth of rainfall in a single day \u2014 \u201ctaught us many lessons and helped us recognize where we need to improve readiness to be better prepared for the future,\u201d Sheikh Mohammed said. <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-24\/dubai-to-spend-8-billion-on-drainage-after-rains-paralyzed-city\" style=\"\" rel=\"noopener\">Bloomberg<\/a> also had the story. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We knew an upgrade was coming:<\/strong> In the weeks after the April storm, Prince Mohamed bin Zayed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/e76dd13f-0ff0-4b59-bffe-28f9b6255a94\/up-next:-drainage-infrastructure%3F\" style=\"\" rel=\"noopener\">issued a directive<\/a> to evaluate the country\u2019s infrastructure. The Energy and Infrastructure Ministry began preparing a \u201ccomplete study\u201d on dam and waterway expansions, and dispatched teams to assess the impact of heavy rainfall on dams and roads and create strategies to bolster dam capacity, enhance waterways, repair damaged roads, and upgrade rainwater drainage along federal roads to withstand severe future weather events.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai\/\">Dubai<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93187\" 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=\"93187\">\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\/25\/adnoc-covestro-kick-off-negotiations-after-revised-takeover-bid\/\">\r\n                            Adnoc and Covestro kick off negotiations after revised takeover bid                        <\/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\/25\/adnoc-covestro-kick-off-negotiations-after-revised-takeover-bid\/\" 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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Adnoc is now offering EUR 62 per share, valuing Covestro at around EUR 11.7 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Moving forward after lots of stalling:<\/strong> The two companies are now moving forward with negotiations following a year of stalled talks, with Covestro signaling the two \u201ccan generally reach a common understanding regarding core aspects of a possible transaction.\u201d Covestro held supervision meetings <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/526d8fbb-5582-4b40-b987-727aba3d981c\/alef-education-debuts-on-the-adx-in-abu-dhabi%25e2%2580%2599s-first-ipo-of-the-year\" style=\"\" rel=\"noopener\">mid-June<\/a> to discuss allowing Adnoc to perform due diligence. Due diligence was expected to happen this month, with the revised bid expected to be made in July, according to previous media reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Covestro is giving Adnoc no assurances:<\/strong> Covestro has provided Adnoc due diligence information but stated that \u201cthere is no certainty whether the upcoming negotiations will lead to an agreement. There is also no certainty as to the final terms of any such agreement.\u201d If the sale comes through, it would be Adnoc\u2019s biggest-ever acquisition, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-24\/adnoc-said-prepared-to-boost-covestro-bid-to-nearly-12-billion\" 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>This is Adnoc\u2019s final offer:<\/strong> Adnoc confirmed that EUR 62 per share is its final offer, Bloomberg reports, citing an Adnoc statement. Over the past year, Adnoc increased its bid three times, from EUR 55 to EUR 57 and then to EUR 60 per share. The oil giant recently received approval from top officials to raise its offer, contingent on completing thorough due diligence, according to Bloomberg, citing sources familiar with the matter. <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/covestro-negotiate-with-adnoc-based-62-eurshr-takeover-offer-2024-06-24\/\" style=\"\" rel=\"noopener\">Reuters<\/a> and the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/36ddb9e6-d342-4dd9-9855-6b3e70dcd044\" style=\"\" rel=\"noopener\">Financial Times<\/a> also had the story. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adnoc\/\">Adnoc<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93189 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"93189\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/93189-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93189\" class=\"content-area-description single-story post-93189 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.mashreq.com\/en\/uae\/about-us\/our-company\/awards-accolades\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1928.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93190\" 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=\"93190\">\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\/25\/gip-snam-spa-mull-offloading-adnoc-gas-pipeline-assets\/\">\r\n                            GIP, Snam SpA look mull offloading Adnoc Gas pipeline assets                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/gip-snam-spa-mull-offloading-adnoc-gas-pipeline-assets\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/gip-snam-spa-mull-offloading-adnoc-gas-pipeline-assets\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/gip-snam-spa-mull-offloading-adnoc-gas-pipeline-assets\/\">\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=GIP, Snam SpA mull offloading Adnoc Gas pipeline assets&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/gip-snam-spa-mull-offloading-adnoc-gas-pipeline-assets\/\">\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\/25\/gip-snam-spa-mull-offloading-adnoc-gas-pipeline-assets\/&title=GIP, Snam SpA mull offloading Adnoc Gas pipeline assets\">\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=GIP%2C+Snam+SpA+mull+offloading+Adnoc+Gas+pipeline+assets+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F25%2Fgip-snam-spa-mull-offloading-adnoc-gas-pipeline-assets%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/gip-snam-spa-mull-offloading-adnoc-gas-pipeline-assets\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2555.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93191\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/gip-snam-spa-mull-offloading-adnoc-gas-pipeline-assets\/2555-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2555.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2555.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2555.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2555.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93190\" class=\"content-area-description single-story post-93190 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-adnoc 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\/.19cdd8ea-da28-4eaf-b914-2d6df03e4c39.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Adnoc Gas stakes could be up for grabs:<\/strong> <a target=\"_blank\" href=\"https:\/\/www.global-infra.com\/\" style=\"\" rel=\"noopener\">Global Infrastructure Partners<\/a> (GIP) and Italian gas network operator <a target=\"_blank\" href=\"https:\/\/www.snam.it\/it\/home.html\" style=\"\" rel=\"noopener\">Snam SpA<\/a> are mulling selling their stakes in the Abu Dhabi National Oil Company\u2019s (<a target=\"_blank\" href=\"https:\/\/www.adnoc.ae\/\" style=\"\" rel=\"noopener\">Adnoc<\/a>) gas pipeline unit, Adnoc Gas Pipeline Assets, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-24\/gip-snam-said-to-mull-exit-from-21-billion-adnoc-gas-pipe-unit\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing people familiar with the matter. GIP, the unit\u2019s largest foreign stakeholder, is working with advisors to gauge interest in its share, sources said. Snam, which holds a 6% stake in the company, is also contemplating offloading its stake.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In 2020, a GIP-led consortium secured a 49% stake in the unit: <\/strong>GIP led a consortium of international investors, which included Brookfield Asset Management, GIC, Ontario Teachers\u2019 Pension Plan, and NH Investment &amp; Securities, to acquire a 49% stake in a pipeline network for some USD 10.1 bn back in 2020. This transaction valued the entire network, including debt, at almost USD 21 bn<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Lunate is a potential buyer: <\/strong>Abu Dhabi-based alternative investment firm <a target=\"_blank\" href=\"https:\/\/lunate.com\/\" style=\"\" rel=\"noopener\">Lunate<\/a> reached out to key stakeholders of Adnoc Gas pipeline assets to acquire their stakes, the sources said. The ADQ-backed firm previously <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ad1607d0-1836-4a38-9afc-5a5f7132592a\/lunate-snags-40%2525-of-adnoc-oil-pipelines-from-blackrock-and%253cmark%253e-kkr%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">acquired a 40% stake<\/a> in Adnoc\u2019s oil pipeline asset network from US private equity giants BlackRock and KKR &amp; Co in April. The firm manages around USD 105 bn assets.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adnoc\/\">Adnoc<\/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=\"93192\" 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=\"93192\">\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\/25\/ultratech-is-bidding-for-less-of-rak-white-cement\/\">\r\n                            Rak White Cement gets revised Ultratech offer                        <\/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\/25\/ultratech-is-bidding-for-less-of-rak-white-cement\/\" 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\/25\/ultratech-is-bidding-for-less-of-rak-white-cement\/')\">\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\/25\/ultratech-is-bidding-for-less-of-rak-white-cement\/\">\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=Ultratech is bidding for less of Rak White Cement&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/ultratech-is-bidding-for-less-of-rak-white-cement\/\">\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\/25\/ultratech-is-bidding-for-less-of-rak-white-cement\/&title=Ultratech is bidding for less of Rak White Cement\">\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=Ultratech+is+bidding+for+less+of+Rak+White+Cement+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F25%2Fultratech-is-bidding-for-less-of-rak-white-cement%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\/25\/ultratech-is-bidding-for-less-of-rak-white-cement\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1524.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93193\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/ultratech-is-bidding-for-less-of-rak-white-cement\/1524-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1524.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1524.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1524.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1524.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93192\" class=\"content-area-description single-story post-93192 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-enterpriseam-uae tag-investments tag-ma-watch tag-mubadala tag-ultratech 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\/.15f03340-76f1-4b30-b583-70fb75c113e0.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Ultratech amends the terms of its offer to ramp up Rak White Cement stake:<\/strong> Indian Cement Manufacturer <a target=\"_blank\" href=\"https:\/\/www.ultratechcement.com\/\" style=\"\" rel=\"noopener\">UltraTech<\/a> has revised its offer to acquire an additional stake in <a target=\"_blank\" href=\"https:\/\/rakcc.ae\/\" style=\"\" rel=\"noopener\">Ras Al Khaimah for White Cement<\/a> (Rak White Cement), Rak White Cement said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1498.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a>. UltraTech is now looking to acquire an additional 25% stake \u2014 equivalent to 125 mn shares \u2014 in Rak White Cement, revising its offer downward from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/fe17f57f-53d9-4ba7-8cd2-dac521164aae\/ultratech-to-ramp-up-stake-in-rak-white-cement\" style=\"\" rel=\"noopener\">the initial bid<\/a> for an additional 31.6% stake (158 mn shares). <\/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 offer period is now being extended to 26 July, according to the disclosure. The deadline for shareholders to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/d51362ad-6753-4158-9653-caf0381d914f\/adnoc-drilling,-alpha-dhabi-jv-to-up-stake-in-us-tech-firm#:~:text=Ras%20Al%20Khaimah%20White,shareholders%20on%20Monday.\" style=\"\" rel=\"noopener\">sell their shares<\/a> to UltraTech was originally set to elapse yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> UltraTech <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/fe17f57f-53d9-4ba7-8cd2-dac521164aae\/ultratech-to-ramp-up-stake-in-rak-white-cement\" style=\"\" rel=\"noopener\">acquired<\/a> a 29.39% stake in Rak cement for USD 101 mn in 2022, as part of their plan to expand the cement manufacturer\u2019s operations locally and globally, and to introduce new products to Rak Cement\u2019s production portfolio. <\/p>\n<p class=\"tag-border-left\">OTHER M&amp;A NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi\u2019s sovereign wealth fund Mubadala will invest USD 250 mn in the Turkish<\/strong><strong> last-mile delivery company Getir<\/strong> as part of the company\u2019s restructuring plans that will see it split into two separate entities, <a target=\"_blank\" href=\"https:\/\/news.sky.com\/story\/getir-shareholders-back-break-up-of-food-delivery-app-13157873\" style=\"\" rel=\"noopener\">Sky News<\/a> reports, citing insiders familiar with the approved restructuring plan. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Earlier this week the company\u2019s shareholders approved splitting into two companies.<\/strong> One segment, specializing in food delivery in Turkey, will be primarily owned and controlled by Mubadala, with Batuhan Gultakan at the helm. Nazim Salur, the founder of the company, will not play an active role in this division. Instead, Salur will lead the other division, encompassing Getir's ride-hailing services and additional assets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Part of the proceeds will go towards repaying Getir\u2019s outstanding debt<\/strong>, which included \u201c <a target=\"_blank\" href=\"https:\/\/news.sky.com\/story\/getir-quits-uk-with-multimillion-pound-tottenham-hotspur-debt-13139824\" style=\"\" rel=\"noopener\">several mns of GBP<\/a> owed to Tottenham Hotspur FC.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Have Mubadala and Getir buried the hatchet? <\/strong>Bloomberg reported <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f84e7b74-634c-4bf3-a384-6cbb7763ee80\/dubai-ranks-first-in-the-world-for-number-of-fdi-projects-in-2023#:~:text=%234%2DTrouble,focus%20on%20Turkey.\" style=\"\" rel=\"noopener\">last month<\/a> that tensions arose between Getir and its largest investor Mubadala after Chief Strategy Officer Derya Erdemli, was dismissed by the startup\u2019s management. Erdemli had advised the startup to downsize operations, aligning with the investors' recommendation to shut down foreign operations and concentrate on Turkey.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Mubadala, along with other investors, provided Getir with additional funding<\/strong> \u2014 which Bloomberg said came in at about USD 200 mn \u2014 to Getir in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/0578a16a-d7cd-43ef-b837-ae47c32564da\/dubai-mangroves-100-mn-trees-initiative-plans-revealed#:~:text=Turkish%20grocery%20delivery,physical%20shopping%20resumed.\" style=\"\" rel=\"noopener\">late April<\/a>. The investment was split into tranches, and full delivery contingent upon Getir meeting set targets, including changes to the board and a reshuffle of senior management. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investments\/\">investments<\/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\/mubadala\/\">Mubadala<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ultratech\/\">UltraTech<\/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=\"93194\" 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=\"93194\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/omhl-snags-20-stake-in-italian-bicycle-manufacturer\/\">\r\n                            OMHL snags 20% stake in Italian bicycle manufacturer                        <\/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\/25\/omhl-snags-20-stake-in-italian-bicycle-manufacturer\/\" 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\/25\/omhl-snags-20-stake-in-italian-bicycle-manufacturer\/')\">\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\/25\/omhl-snags-20-stake-in-italian-bicycle-manufacturer\/\">\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=OMHL snags 20% stake in Italian bicycle manufacturer&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/omhl-snags-20-stake-in-italian-bicycle-manufacturer\/\">\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\/25\/omhl-snags-20-stake-in-italian-bicycle-manufacturer\/&title=OMHL snags 20% stake in Italian bicycle manufacturer\">\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=OMHL+snags+20%25+stake+in+Italian+bicycle+manufacturer+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F25%2Fomhl-snags-20-stake-in-italian-bicycle-manufacturer%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\/25\/omhl-snags-20-stake-in-italian-bicycle-manufacturer\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/517.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93195\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/omhl-snags-20-stake-in-italian-bicycle-manufacturer\/517-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/517.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"517.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/517.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/517.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93194\" class=\"content-area-description single-story post-93194 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-enterpriseam-uae tag-italy tag-ma tag-ma-watch tag-transport 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\/.d533edc2-b48c-4e0f-89cc-c32e63e561e0.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi-based investment company Officine Mattio Holding Limited (OMHL) is set to<\/strong><strong> acquire a 20% stake in Italian bicycle manufacturer Officine Mattio<\/strong> for an undisclosed sum, <a target=\"_blank\" href=\"https:\/\/bikebiz.com\/officine-mattio-sells-20-stake-to-abu-dhabi-based-investment-firm\/\" style=\"\" rel=\"noopener\">BikeBiz<\/a> reports. OMHL will offer up financial resources to support the Italian company's expansion plans and product diversification efforts as part of the agreement, in a bid to promote capital expansion and ramp up Italy\u2019s cycling sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Officine Mattio: <\/strong>The Italian company specializes in \u201cMade in Italy\u201d bicycles and associated parts, and offers cycling tours. Officine Mattio sponsors professional women\u2019s racing team BePink and amateur granfondo cycling team OM.CC.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OMHL has bigger plans for the cycling industry: <\/strong>The investment firm plans to play \u201ca crucial role in the cycling industry,\u201d by rolling out long term investments in high-end bicycle manufacturers, cycling technology firms, and performance components producers.<\/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 set to be finalized by the end of the month, pending customary closing conditions and regulatory approvals.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/italy\/\">Italy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma\/\">M&amp;A<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/transport\/\">transport<\/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=\"93196\" 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=\"93196\">\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\">CAPITAL MARKETS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/lunate-launches-global-sukuk-etf-with-jp-morgan\/\">\r\n                            Lunate launches global sukuk ETF with JP Morgan                        <\/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\/25\/lunate-launches-global-sukuk-etf-with-jp-morgan\/\" 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\/25\/lunate-launches-global-sukuk-etf-with-jp-morgan\/')\">\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\/25\/lunate-launches-global-sukuk-etf-with-jp-morgan\/\">\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=Lunate launches global sukuk ETF with JP Morgan&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/lunate-launches-global-sukuk-etf-with-jp-morgan\/\">\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\/25\/lunate-launches-global-sukuk-etf-with-jp-morgan\/&title=Lunate launches global sukuk ETF with JP Morgan\">\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=Lunate+launches+global+sukuk+ETF+with+JP+Morgan+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F25%2Flunate-launches-global-sukuk-etf-with-jp-morgan%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\/25\/lunate-launches-global-sukuk-etf-with-jp-morgan\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/851.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93197\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/lunate-launches-global-sukuk-etf-with-jp-morgan\/851-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/851.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"851.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/851.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/851.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93196\" class=\"content-area-description single-story post-93196 post type-post status-publish format-standard has-post-thumbnail hentry category-capital-markets tag-adx tag-capital-markets tag-enterpriseam-uae tag-etfs tag-jpmorgan tag-lunate 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\/.93f12c67-09ac-4e17-be12-1c3a4efcd8ed.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Abu Dhabi\u2019s Lunate Capital is introducing an exchange traded fund (ETF) <\/strong><strong>tracking <\/strong><strong>global sukuk as demand for stable investments soar<\/strong>, Lunate said in a <a target=\"_blank\" href=\"https:\/\/lunate.com\/en\/news-insights\/announcements\/lunate-launches-chimera-j-p-morgan-global-sukuk-etf\" style=\"\" rel=\"noopener\">press release<\/a>. The Chimera JP Morgan Global Sukuk ETF is set to debut on the ADX on 8 July. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Details:<\/strong> The fund will track the performance of the JP Morgan Global Investment Grade Sukuk Index, which monitors around 70 liquid, USD-denominated sukuk instruments across several global markets. The ETF will include top-tier sovereign, quasi-sovereign, and corporate sukuk issuers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART-<\/strong> Top tier sovereign debt issuers are highly rated sovereign issuers, while quasi-sovereign debt issuers are corporate entities guaranteed by the government, but not fully owned by the state, for example, state-owned enterprises, government agencies, and sovereign wealth funds. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Subscription period:<\/strong> Investors looking to subscribe to the fund can do so via six authorized participants or through the ADX eIPO investor portal starting June 24. The fund\u2019s authorized participants include International Securities, EFG Hermes, Arqaam Securities, FAB Securities, Daman Securities, and BHM Capital.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is Lunate\u2019s second ETF of the year and the 16th to hit stock markets in the UAE<\/strong>, according to the statement. Lunate and JP Morgan Chase launched the UAE\u2019s first bond ETF in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/54708302-54ff-4aac-bb5f-786fb9e02bd6\/%253cmark%253e%253c%2Fmark%253eabu%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253edhabi%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ebased%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253elunate%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ecapital%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eand%253cmark%253e%253c%2Fmark%253e%253c%253cmark%253e%253c%2Fmark%253emark%253cmark%253e%253c%2Fmark%253e%253e%253cmark%253e%253c%2Fmark%253e%253cmark%253e%253c%2Fmark%253ejpmorgan%253cmark%253e%253c%2Fmark%253e%253c%2F%253cmark%253e%253c%2Fmark%253emark%253cmark%253e%253c%2Fmark%253e%253e%253cmark%253e%253c%2Fmark%253e%253cmark%253e%253c%2Fmark%253elaunch%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253euae%253cmark%253e%253c%2Fmark%253e'\" style=\"\" rel=\"noopener\">March<\/a> covering investment-grade bonds worth USD 500 mn or more, it includes issuances from the likes of Mubadala Investment, the Abu Dhabi government, and First Abu Dhabi Bank.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cThis ETF offers direct access to local, regional, and global fixed income markets, meeting increasing investor demand for stable investment opportunities. Its addition strengthens Abu Dhabi's position as a hub for finance and investment and reflects the growing interest in ETFs as versatile investment tools,\u201d ADX CEO Abdulla Salem Alnuaimi said. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adx\/\">ADX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/etfs\/\">ETFs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/jpmorgan\/\">JPMorgan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/lunate\/\">Lunate<\/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=\"93198\" 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=\"93198\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/sharjah-islamic-bank-to-sell-new-usd-denominated-senior-sukuk\/\">\r\n                            Sharjah Islamic Bank to sell new USD-denominated senior sukuk                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/sharjah-islamic-bank-to-sell-new-usd-denominated-senior-sukuk\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/sharjah-islamic-bank-to-sell-new-usd-denominated-senior-sukuk\/')\">\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\/25\/sharjah-islamic-bank-to-sell-new-usd-denominated-senior-sukuk\/\">\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=Sharjah Islamic Bank to sell new USD-denominated senior sukuk&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/sharjah-islamic-bank-to-sell-new-usd-denominated-senior-sukuk\/\">\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\/25\/sharjah-islamic-bank-to-sell-new-usd-denominated-senior-sukuk\/&title=Sharjah Islamic Bank to sell new USD-denominated senior sukuk\">\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=Sharjah+Islamic+Bank+to+sell+new+USD-denominated+senior+sukuk+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F25%2Fsharjah-islamic-bank-to-sell-new-usd-denominated-senior-sukuk%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\/25\/sharjah-islamic-bank-to-sell-new-usd-denominated-senior-sukuk\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1556.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93199\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/sharjah-islamic-bank-to-sell-new-usd-denominated-senior-sukuk\/1556-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1556.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1556.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1556.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1556.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93198\" class=\"content-area-description single-story post-93198 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt tag-debt-watch tag-enterpriseam-uae tag-sharjah-islamic-bank 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\/.95d25bc0-54d2-407a-9ed8-62c79b45cbbb.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sharjah Islamic Bank is set to issue a benchmark-sized USD-denominated five-year <\/strong><strong>senior sukuk<\/strong> after hiring banks to advise on the issuance, <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/islamic-economy\/islamic-finance\/sharjah-islamic-bank-plans-5-year-sukuk-sale-document-shows-ovije1kv\" style=\"\" rel=\"noopener\">Reuters<\/a> reports citing a document it saw. The sukuk will be issued under the lender\u2019s USD 3 bn trust certificate issuance program. Investor meetings and investor calls started yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>Our friends at Mashreq alongside Abu Dhabi Islamic Bank, Abu Dhabi Commercial Bank, Bank ABC, Dubai Islamic Bank, First Abu Dhabi Bank, and QNB Capital are acting as joint lead managers and bookrunners. Standard Chartered Bank, Emirates NBD Capital and HSBC are acting as joint global coordinators.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt-watch\/\">DEBT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/sharjah-islamic-bank\/\">Sharjah Islamic Bank<\/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=\"93200\" 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=\"93200\">\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\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/uae-ranks-7th-competitive-economy-in-the-world\/\">\r\n                            UAE ranks 7th competitive economy in the world                        <\/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\/25\/uae-ranks-7th-competitive-economy-in-the-world\/\" 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\/25\/uae-ranks-7th-competitive-economy-in-the-world\/')\">\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\/25\/uae-ranks-7th-competitive-economy-in-the-world\/\">\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 ranks 7th competitive economy in the world&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/uae-ranks-7th-competitive-economy-in-the-world\/\">\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\/25\/uae-ranks-7th-competitive-economy-in-the-world\/&title=UAE ranks 7th competitive economy in the world\">\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+ranks+7th+competitive+economy+in+the+world+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F25%2Fuae-ranks-7th-competitive-economy-in-the-world%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\/25\/uae-ranks-7th-competitive-economy-in-the-world\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/616.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93201\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/uae-ranks-7th-competitive-economy-in-the-world\/616-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/616.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"616.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/616.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/616.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93200\" class=\"content-area-description single-story post-93200 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.704c822c-847f-459c-a625-1d9b07a24f23.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE rose to 7th place among the world's 67 most competitive economies<\/strong>, climbing three spots from last year in the 2024 IMD <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1422.pdf\" style=\"\" rel=\"noopener\">World Competitiveness Ranking (pdf)<\/a>. The UAE ranked 2nd globally in economic performance, jumped to 4th place from 8th in government efficiency, and secured the 10th position in business efficiency. The World Competitiveness Report's evaluation encompasses 336 indicators spanning economic, administrative, and social sectors, with the UAE achieving top global rankings across various indicators.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE achieved top 10 rankings in more than 90 indicators worldwide<\/strong>, clinching 1st place in 11 areas like industrial disputes and labor force growth, 2nd place in nine areas such as tourism receipts and government policy adaptability, and 3rd place in six areas including immigration laws and city management. The UAE secured 4th place in 12 indicators, including consumer price inflation and overall productivity, and 5th place in 13 indicators such as GDP per capita and start-up procedures.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The report highlighted areas the UAE needs to enhance to avoid risking its competitiveness<\/strong>, including diversifying exports and transitioning away from oil dependency, integrating economic diversification with sustainability, leveraging AI tech while addressing ethical and regulatory concerns, and strengthening its resilience against climate change impacts.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/economy\/\">Economy<\/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=\"93202\" 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=\"93202\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/dubai-camel-racing-club-gets-new-board\/\">\r\n                            Dubai Camel Racing Club gets new board                        <\/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\/25\/dubai-camel-racing-club-gets-new-board\/\" 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\/25\/dubai-camel-racing-club-gets-new-board\/')\">\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\/25\/dubai-camel-racing-club-gets-new-board\/\">\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 Camel Racing Club gets new board&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/dubai-camel-racing-club-gets-new-board\/\">\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\/25\/dubai-camel-racing-club-gets-new-board\/&title=Dubai Camel Racing Club gets new board\">\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+Camel+Racing+Club+gets+new+board+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F25%2Fdubai-camel-racing-club-gets-new-board%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\/25\/dubai-camel-racing-club-gets-new-board\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1554.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93203\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/dubai-camel-racing-club-gets-new-board\/1554-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1554.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1554.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1554.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1554.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93202\" class=\"content-area-description single-story post-93202 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-appointments tag-board-of-directors tag-dubai tag-enterpriseam-uae tag-moves wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.6ac0b0eb-9bd7-420d-8c94-b4e1f0e3ccad.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum formed a board for the Dubai<\/strong><strong> Camel Racing Club,<\/strong> to be chaired by Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3ts1rc-mohammed-bin-rashid-issues-decree-dubai-camel\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The board\u2019s members will include Atiq Salem Balarti Al Humairi, Rashid Mubarak Markhan Al Ketbi, Abdullah Ali bin Humaidan Al Falasi, Suhail Hamad Markhan Al Ketbi, and newly appointed CEO of the club, Ali Saeed Ali bin Saroud Al Mansouri.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Dubai Ruler also issued a decree setting out the club\u2019s objectives, <\/strong>responsibilities, organizational structure, and governance.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/appointments\/\">Appointments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/board-of-directors\/\">Board of Directors<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai\/\">Dubai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93204\" 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=\"93204\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/hsbc-debuts-global-wealth-trading-platform\/\">\r\n                            HSBC rolls out trading platform WorldTrader in UAE                        <\/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\/25\/hsbc-debuts-global-wealth-trading-platform\/\" 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\/25\/hsbc-debuts-global-wealth-trading-platform\/')\">\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\/25\/hsbc-debuts-global-wealth-trading-platform\/\">\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=HSBC debuts global wealth trading platform&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/hsbc-debuts-global-wealth-trading-platform\/\">\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\/25\/hsbc-debuts-global-wealth-trading-platform\/&title=HSBC debuts global wealth trading platform\">\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=HSBC+debuts+global+wealth+trading+platform+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F25%2Fhsbc-debuts-global-wealth-trading-platform%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\/25\/hsbc-debuts-global-wealth-trading-platform\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1885.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93205\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/hsbc-debuts-global-wealth-trading-platform\/1885-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1885.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1885.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1885.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1885.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93204\" class=\"content-area-description single-story post-93204 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-adib tag-also-on-our-radar tag-aviation tag-capital-markets tag-enterpriseam-uae tag-etihad-airways tag-finance tag-freight tag-hsbc tag-legislation tag-logistics tag-real-estate tag-security tag-sports tag-trade wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.6b96601d-b4c5-46bb-a809-e11c224b85e7.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">CAPITAL MARKETS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>HSBC has debuted its global wealth trading platform <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.hsbc.ae\/investments\/products\/worldtrader\/\" style=\"\" rel=\"noopener\">WorldTrader<\/a><\/strong> <strong> in the <\/strong><strong>UAE <\/strong>to offer its UAE-based customers with international investment options, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/wealth\/wealth-management\/hsbc-launches-global-wealth-trading-platform-in-the-uae-vq21xbvo\" style=\"\" rel=\"noopener\">press release<\/a>. The platform includes 77 stock exchanges across 25 markets, covering 80% of global stock market capitalisation, allowing the lender\u2019s Wealth and Personal Banking (WPB) customers to trade equities, ETFs, and bonds as well as to invest in mutual funds and fixed income products. HSBC introduced the platform in the UAE as its first market, with plans to launch it later in select countries in the Middle East and Asia. <\/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\">RETAIL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Spinneys officially expands to KSA: <\/strong>Spinneys has opened its first store in Saudi Arabia at La Strada Yard, Riyadh, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1493.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a> by the company. The new location spans 43,520 sqft, with in-house production capability for fresh goods. The company plans to open three more stores in Riyadh and Jeddah in 2024, and 12 stores in the rest of the Kingdom by 2028.<\/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\">SECURITY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Katim teams up with Thales to develop HF radio communication technologies:<\/strong> <a target=\"_blank\" href=\"https:\/\/edgegroup.ae\/\" style=\"\" rel=\"noopener\">EDGE<\/a><a target=\"_blank\" href=\"https:\/\/edgegroup.ae\/\" style=\"\" rel=\"noopener\">Group<\/a> subsidiary <a target=\"_blank\" href=\"https:\/\/katim.com\/\" style=\"\" rel=\"noopener\">Katim<\/a> has inked a declaration of intent with the French defense company <a target=\"_blank\" href=\"https:\/\/www.thalesgroup.com\/en\" style=\"\" rel=\"noopener\">Thales<\/a> to co-develop high-frequency radio communications solutions in the Emirates, according to a <a target=\"_blank\" href=\"https:\/\/www.thalesgroup.com\/en\/worldwide\/defence-and-security\/press_release\/edge-and-thales-announce-strategic-partnership-radio\" style=\"\" rel=\"noopener\">statement<\/a> from Thales. The signing took place on the sidelines of the international defense expo Eurosatory.<\/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\">SHIPPING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai<\/strong><strong> firm\u2019s tanker first to sail through Red Sea since January amid attacks:<\/strong> A liquefied natural gas (LNG) tanker owned by Dubai-based Lule One Services and managed by Dubai-based Nur Global Shipping traveled through the Red Sea last Tuesday, marking the first tanker to sail through the Bab al-Mandab strait since January after the Houthi attacks began in November, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/rare-lng-vessel-sails-through-red-sea-amid-houthi-attacks-data-shows-2024-06-21\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing ship tracking data from LSEG and Kpler. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The tanker \u2014 named Asya Energy \u2014 crossed the strait during <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/houthis-believed-have-sunk-second-ship-red-sea-ukmto-says-2024-06-18\/\" style=\"\" rel=\"noopener\">the same week<\/a><\/strong><strong> a vessel was sunk<\/strong> and \u201cmay soon become the first vessel to take the Red Sea passage since 12 January after waiting around the coast of Oman since mid-January,\u201d Ana Subasic, natural gas and LNG analyst at data and analytics firm Kpler told the news outlet. <\/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\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Samana Developers unveils AED 855 mn Dubailand project: <\/strong>Dubai-based <a target=\"_blank\" href=\"https:\/\/samana-online.samanadevelopers.com\/\" style=\"\" rel=\"noopener\">Samana<\/a><a target=\"_blank\" href=\"https:\/\/samana-online.samanadevelopers.com\/\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/samana-online.samanadevelopers.com\/\" style=\"\" rel=\"noopener\">Developers<\/a> has launched Samana Ivy Gardens 2, a new AED 855 mn development in Dubailand, <a target=\"_blank\" href=\"https:\/\/www.arabianbusiness.com\/industries\/real-estate\/dubai-real-estate-samana-developers-launches-new-232mn-ivy-gardens-2-project-in-dubailand\" style=\"\" rel=\"noopener\">Arabian Business reports<\/a>. The 35-story residential project will contain 843 units and is scheduled for delivery by November 2027.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Stake joins the state-run REES initiative: <\/strong>The Dubai Land Department has added the real estate investment platform Stake to its Real Estate Evolution Space Initiative (REES) \u2014 which aims to attract proptech companies and support innovation in the sector \u2014 according to a <a target=\"_blank\" href=\"https:\/\/dubailand.gov.ae\/en\/news-media\/stake-digital-platform-joins-dubai-land-department-s-pioneering-initiative-rees-to-transform-real-estate-investment-landscape\/#\/\" style=\"\" rel=\"noopener\">statement<\/a> from the authority. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Stake: <\/strong>Established in 2021, the platform offers real estate investment options starting from AED 500 and allows investors to manage their transactions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Aldar Properties launches new residential project in Dubai: <\/strong>Abu Dhabi\u2019s Aldar Properties has announced the soft launch of its most recent residential development in Dubai Verdes by Haven, which was developed in partnership with Dubai Holding, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1519.pdf\" style=\"\" rel=\"noopener\">statement<\/a>. Verdes\u2019 public launch is slated for 11 July, offering one-, two-, and three-bedroom apartments with prices starting from AED 990k.<\/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\">PAYMENTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi Islamic Bank (ADIB) has adopted <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.progressoft.com\/\" style=\"\" rel=\"noopener\">ProgressSoft<\/a><\/strong><strong>\u2019s payment hub platform to<\/strong><strong> ease remittance transfers<\/strong>, a <a target=\"_blank\" href=\"https:\/\/www.progressoft.com\/news\/adib-advances-its-banking-technologies-with-progresssofts-payments-hub\" style=\"\" rel=\"noopener\">press release<\/a> reads. ADIB has collaborated with the Jordan-based payment solutions company to integrate cross-border transfers. <\/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\">TRADE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE + Czech boost trade ties:<\/strong> The federal export credit company <a target=\"_blank\" href=\"https:\/\/www.eci.gov.ae\/\" style=\"\" rel=\"noopener\">Etihad Credit Ins<\/a>. signed an agreement with the Czech Republic\u2019s <a target=\"_blank\" href=\"https:\/\/mzv.gov.cz\/seoul\/en\/economy_and_trade\/export_guarantee_and_insurance\/index.html\" style=\"\" rel=\"noopener\">Export Guarantee and Ins. Corporation (EGAP)<\/a> to establish a reins. framework, aimed at strengthening bilateral trade between the UAE and the Czech Republic, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b3ts1ij-uae-enjoys-growing-and-developing-economic\" style=\"\" rel=\"noopener\">Wam<\/a> reports. Under the agreement, both countries will collaborate to tackle \u201crisks related to sovereign and quasi-sovereign debtors,\u201d and provide credit solutions and ins. facilities for private sector debtors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">LOGISTICS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Etihad Cargo adds new routes to Madrid: <\/strong>Etihad Cargo, the logistics and cargo arm of Etihad Airways, is launching two new flights to Madrid per week, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3ts1ct-etihad-cargo-expands-its-freighter-network-madrid\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The Boeing 777 freighter flights will add over 200 tonnes of cargo capacity for Europe, and will run between Abu Dhabi and Madrid. This will bring the total number of flights to Spain to 25 per week.<\/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\">SPORTS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE FA launches a funding program for tier 2 clubs: <\/strong>The UAE Football Association (UAE FA) has launched the Sports Excellence Funding Programme, with AED 12.5 mn earmarked annually, to provide \u201cfinancial, technical, administrative, and logistical support\u201d for clubs in the First Division League, the second tier in the Emirati football leagues, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3ts1im-uae-launches-sports-excellence-funding-programme\" style=\"\" rel=\"noopener\">Wam<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">AVIATION- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Flydubai adds more flights to Pakistan: <\/strong>Budget airline flydubai will run daily flights to Pakistan\u2019s capital Islamabad and its second-largest city Lahore starting 1 July, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3ts1ii-flydubai-launches-flights-two-destinations\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The company has been operating flights to Pakistan since 2010, including to destinations like Faisalabad, Karachi, Multan, Quetta, and Sialkot.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emirates to double daily flights to Amsterdam: <\/strong>Emirates will begin operating two daily flights to Amsterdam, up from one daily flight currently, starting 27 October, <a target=\"_blank\" href=\"https:\/\/simpleflying.com\/emirates-increases-airbus-a380-flights-amsterdam-double-daily\/\" style=\"\" rel=\"noopener\">Simple Flying<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emirates unveils AED 3.5 mn lounge in Paris: <\/strong>Airline Emirates inaugurated a AED 3.5 mn premium lounge at Paris\u2019 Charles de Gaulle airport, located in Terminal 2C, according to a <a target=\"_blank\" href=\"https:\/\/www.emirates.com\/media-centre\/emirates-unveils-its-newly-designed-premium-lounge-in-paris-charles-de-gaulle-airport\/\" style=\"\" rel=\"noopener\">company statement<\/a>. The lounge\u2014which includes shower facilities, complimentary Wi-fI, and a selection of food and beverages\u2014can accommodate up to 165 guests.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sharjah to build Uganda\u2019s third airport: <\/strong>The Sharjah Chamber of Commerce and Industry has inked an agreement with Uganda to build a new international airport for the East African country for an undisclosed sum, according to a <a target=\"_blank\" href=\"https:\/\/x.com\/KagutaMuseveni\/status\/1804031446316617740?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet\" style=\"\" rel=\"noopener\">statement<\/a> by Ugandan President Yoweri Museveni office. Sharjah\u2019s chamber is scheduled to commence construction next August, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/uganda-signs-deal-with-uae-build-third-international-airport-2024-06-21\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing Chairman Abdallah Sultan Al Owais. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">FINANCE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wio Bank embeds finance services for SMEs: <\/strong>Abu Dhabi-based <a target=\"_blank\" href=\"https:\/\/wio.io\/\" style=\"\" rel=\"noopener\">Wio Bank<\/a> launched a new finance service on its digital banking application, Wio Business, targeting small and medium-sized enterprises (SMEs) in the UAE, <a target=\"_blank\" href=\"https:\/\/gulfnews.com\/business\/banking\/uae-businesses-get-new-finance-service-at-wio-bank-1.1719217741940\" style=\"\" rel=\"noopener\">Gulf News<\/a> reports. The new service, dubbed Embedded Finance, allows businesses to link their accounts with selected software platforms\u2014 eliminating the need for third-party intermediaries\u2014and automates bookkeeping processes, including the reconciliation of bank statements. It looks to streamline delivery and management of financial services for SMEs.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adib\/\">ADIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/aviation\/\">Aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/etihad-airways\/\">Etihad Airways<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/finance\/\">Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/freight\/\">freight<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/hsbc\/\">HSBC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/legislation\/\">legislation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/real-estate\/\">Real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/security\/\">security<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/sports\/\">Sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93206\" 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=\"93206\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/mideast-sovereign-wealth-fund-flows-to-china-up-2-2k-y-o-y-in-2023\/\">\r\n                            Mideast sovereign wealth fund flows to China up 2.2k% y-o-y 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\/25\/mideast-sovereign-wealth-fund-flows-to-china-up-2-2k-y-o-y-in-2023\/\" 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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To put this in context, the influx of funds represents a 2.2k% y-o-y increase from the USD 100 mn China received in 2022.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>When one door closes, another opens: <\/strong>The surge in China-bound funds from our region of the globe comes as the world\u2019s second most populous country found itself increasingly cut off from funds from Europe and the US that had historically been an important source of finance. The EU and US <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/896e98dd-3f94-4b11-88a5-03d68b0d3b45\/us-quadruples-tariffs-on-chinese-evs-to-100%2525\" style=\"\" rel=\"noopener\">hiked tariffs<\/a> on Chinese imports in recent years in a bid to contain the country\u2019s rise in sectors that much of the developed world sees as a threat to their own economies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But wealth funds in the region have signaled that they\u2019re not immune from US pressure: <\/strong>Alat, the USD 100 bn AI and advanced technology investment firm created by Saudi Arabia\u2019s Public Investment Fund, made clear that it would divest from Chinese tech if requested to by the US, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/6097eecd-a387-43b7-8ee0-375416c1111b\/\" style=\"\" rel=\"noopener\">EnterpriseAM Saudi<\/a> reported in May. \u201cSo far the requests have been to keep manufacturing and supply chains completely separate, but if the partnerships with China would become a problem for the US, we will divest,\u201d Alat CEO Amit Midha told Bloomberg at the time. US officials have also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d5a755f7-a5e1-4da8-a9e4-c88b3112534b\/saudi%25e2%2580%2599s-tilt-toward-silicon-valley-is-nearly-complete\" style=\"\" rel=\"noopener\">reportedly<\/a> asked Saudi to \u201cchoose between Chinese and American technology\u201d as they develop a semiconductor industry that forms the backbone of AI technology.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- The UAE\u2019s G42 struck earlier this year a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/dc8d8d0b-4c49-4639-9163-b7a70cf94d79\/\" style=\"\" rel=\"noopener\">partnership with Microsoft<\/a><\/strong> after turning its back on Chinese tech <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/0cc78916-0227-4247-b601-f1bf74f38c73\" style=\"\" rel=\"noopener\">under heavy pressure from Washington<\/a>, as we have previously noted. <\/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 mixed this morning after yesterday\u2019s Nvidia-led tech selloff <\/strong>on Wall Street. US equities futures are flat, and while most major European benchmarks look set to dip at the opening bell. <\/p>\n<p><a target=\"_blank\" id=\"t.fe5f6b89a9eab1a8b8cb9d1e0b3d49164dab5d0d\" 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\">9,022<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: -5.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,000<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: +14.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">3427<\/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: -10.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : AED<\/strong><strong> CBUAE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 3.67<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 3.67<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EIBOR<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.05% 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\">5.54% 1 yr<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,697<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: -2.3%)<\/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>EGX30 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">26,902<\/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: +8.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,448<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: +14.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,282<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: +7.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,951<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.9% (YTD: +9.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 86.02<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.9%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.82<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,346.00<\/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\">+0.6%<\/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>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 59,504.00<\/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\">-7.1% (YTD: +40.6%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ADX rose 0.1% yesterday<\/strong> on turnover of AED 945.78 mn. The index is down 5.8% 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>Abu Dhabi National Energy Company (+5.9%), Alef Education Holding (+5.2%) and Gulf Cement Company (+4.6%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Aram Group (-10%), Gulf Medical Projects Company (-9.6%) and Fujairah Cements Industries (-9.3%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over on the DFM<\/strong>, the index closed down 0.3% on turnover of AED 355.38 mn. Meanwhile Nasdaq Dubai closed up 0.4%.<\/p>\n<p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai construction firm Drake &amp; Scull was added to DFM\u2019s general index,<\/strong> the sharia index, and industrial sector index yesterday, according to a <a target=\"_blank\" href=\"https:\/\/www.dfm.ae\/the-exchange\/news-disclosures\/market-announcements\/f232225b-f469-4b64-b118-a26d1087bb0e\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Drake &amp; Scull re-listed its shares on DFM in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/a6b32db8-aa7b-404f-aa69-83403a0c9051\/this-morning:-sidara-makes-final-play-for-wood-group-%2B-president-in-china#:~:text=Drake%20%26%20Scull%20is%20back%20on%20the%20DFM%3A%20Dubai%E2%80%93based%20Drake%20%26%20Scull%20re%2Dlisted%20its%20shares%20on%20the%20Dubai%20Financial%20Market%20(DGF)%20yesterday%20following%20a%20five%2Dyear%20hiatus.%20Shares%20soared%20as%20much%20as%2030%25%20in%20trading%20before%20closing%20up%2024%25%20at%20AED%200.31.\" style=\"\" rel=\"noopener\">May<\/a> following a hiatus that began in 2018. Shares soared as much as 30% in trading before closing up 24% at AED 0.31. The firm was re-listed after it completed its restructuring after raising AED 450 mn in a capital increase, which saw the contractor <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/edition\/am\/24ca3b46-2d30-442f-964c-17bb6a53beca\/eu-launches-anti-subsidy-probe-into-e&amp;%25e2%2580%2599s-ppf-acquisition#:~:text=Drake%20%26%20Scull%20wraps,and%20shareholders%E2%80%99%20equity.%E2%80%9D\" style=\"\" rel=\"noopener\">write off over AED 4.18 bn<\/a> in accumulated debt. The construction firm\u2019s shares were suspended from trading on the back of excessive financial losses and reporting violations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Crompton Saltini rebrands to Eden in the UAE:<\/strong> Luxury real estate brokerage Crompton Saltini is rebranding in the Emirates to Eden, with the goal of expanding the company beyond its ties to the names of the founders, a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/crompton-saltini-rebranding-to-eden-reflecting-refocus-on-brokers-and-clients-auev9hvz\" style=\"\" rel=\"noopener\">press release<\/a> reads. The company adds that the rebranding does not imply a change in its core service.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/sovereign-wealth-funds\/\">Sovereign Wealth Funds<\/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=\"93208\" 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=\"93208\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/foreign-minister-congratulates-indias-fm-on-reappointment\/\">\r\n                            Foreign Minister congratulates India\u2019s FM on reappointment                        <\/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\/25\/foreign-minister-congratulates-indias-fm-on-reappointment\/\" 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\/25\/foreign-minister-congratulates-indias-fm-on-reappointment\/')\">\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\/25\/foreign-minister-congratulates-indias-fm-on-reappointment\/\">\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=Foreign Minister congratulates India\u2019s FM on reappointment&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/foreign-minister-congratulates-indias-fm-on-reappointment\/\">\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\/25\/foreign-minister-congratulates-indias-fm-on-reappointment\/&title=Foreign Minister congratulates India\u2019s FM on reappointment\">\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=Foreign+Minister+congratulates+India%E2%80%99s+FM+on+reappointment+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F25%2Fforeign-minister-congratulates-indias-fm-on-reappointment%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\/25\/foreign-minister-congratulates-indias-fm-on-reappointment\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1489.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93209\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/25\/foreign-minister-congratulates-indias-fm-on-reappointment\/1489-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1489.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1489.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1489.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1489.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93208\" class=\"content-area-description single-story post-93208 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-diplomacy tag-enterpriseam-uae tag-india tag-mexico 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\/.1fff395b-c7e8-4d54-9b2e-ad7507226be7.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan congratulated <\/strong><strong>Subrahmanyam Jaishankar on his reappointment as India\u2019s External Affairs Minister<\/strong> during a working dinner in Abu Dhabi, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/13zdln5-abdullah-bin-zayed-external-affairs-minister-india\" style=\"\" rel=\"noopener\">Wam<\/a> writes. Both parties discussed strengthening bilateral trade ties, reviewing progress in trade, investment, education, and renewable energy. This comes as part of a state visit to review the comprehensive economic strategic agreement between India and the UAE.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Minister of State for Foreign Trade Thani Ahmed Al Zeyoudi met with the Mexican <\/strong><strong>Governor of San Luis Potos\u00ed state, Jos\u00e9 Ricardo Gallardo Cardona,<\/strong> to discuss expanding bilateral cooperation and promoting non-oil trade between the UAE and Mexico, according to a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/ministry-of-economy-uae\/posts?lipi=urn%3Ali%3Apage%3Ad_flagship3_company%3B139vZ85wQsmo%2FAnpnnfTNg%3D%3D\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/india\/\">India<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/mexico\/\">Mexico<\/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=\"93210\" 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\/25\/93210-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93210\" class=\"content-area-description single-story post-93210 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">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 style=\"font-weight:400;\">, 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\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Dubai\u2019s AED 30 bn drainage overhaul | Adnoc submits higher bid for Covestro | Lunate\u2019s second ETF of the year | Dubai rent + cost of living ?<\/p>\n","protected":false},"featured_media":93181,"menu_order":0,"template":"","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-93180","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"727b8ee5-456c-497d-8a57-f83eaa64ae44","teaser":"Dubai\u2019s AED 30 bn drainage overhaul | Adnoc submits higher bid for Covestro | Lunate\u2019s second ETF of the year | Dubai rent + cost of living ?","photo_url":"https:\/\/ent.news\/2024\/6\/1566.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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