{"id":93231,"date":"2024-06-26T00:00:00","date_gmt":"2024-06-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=93231"},"modified":"2025-12-15T00:41:40","modified_gmt":"2025-12-15T00:41:40","slug":"govt-takes-fresh-usd-1-5-bn-eurobond-sale-to-market","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/govt-takes-fresh-usd-1-5-bn-eurobond-sale-to-market\/","title":{"rendered":"Gov\u2019t takes fresh USD 1.5 bn eurobond sale to market"},"content":{"rendered":"<section id=\"93233\" 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=\"93233\">\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\/26\/govt-sells-usd-1-5-bn-in-eurobonds-dubais-property-market-is-in-for-an-unprecedented-summer\/\">\r\n                            THIS MORNING: Gov\u2019t sells USD 1.5 bn in eurobonds + Dubai\u2019s property market is in for an \u201cunprecedented\u201d summer                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1865.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1865.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1865.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1865.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93233\" class=\"content-area-description single-story post-93233 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-drake-scull tag-dubai tag-enterpriseam-uae tag-rak-white-cement tag-real-estate tag-ultratech 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\/.85d7a4a3-57de-4b2f-969d-b41daf73a615.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Good morning, friends, and welcome to an uncharacteristically calm hump day.<\/strong><span style=\"background-color: transparent;\"> We say calm despite the big story of the day being a blockbuster USD 1.5 bn eurobond offering the government took to market yesterday amid strong investor demand \u2014 and the usual smattering of M&amp;A news.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ We have these stories and more in this morning\u2019s newswell, below.<\/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- Dubai\u2019s property sector is expected to record an \u201cunprecedented\u201d <\/strong><strong>USD 33 bn (c.AED<\/strong><strong> 121 bn<\/strong><strong>) in sales during the summer season<\/strong>, up 15-20% y-o-y from the 2023 summer season, according to real estate brokerage <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/aed120bln-dubai-real-estate-expected-sales-in-summer-2024-j2w3vdv3\" style=\"\" rel=\"noopener\">W Capital<\/a>. \u201cDubai real estate sector sales are heading to unprecedented levels during the summer season. The market has reached maturity in recent years, so every summer season records higher sales than the one before,\u201d W Capital CEO Walid Al Zarooni said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not just the summer:<\/strong> Dubai real estate is on track to post record sales in 2024, ranging between AED 450-500 bn, following the \u201chistorical\u201d sales surpassing AED 400 bn last year. Over the first five months of 2024, the emirate saw property sales climb 25.4% y-o-y to AED 187 bn from some 66k transactions, a 30% y-o-y jump from last year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SPEAKING OF DUBAI REAL ESTATE- Dubai-based Qube Developments plans to<\/strong> <strong>introduce AED 2.6 bn (USD 680.6 mn) <\/strong><strong>worth of properties<\/strong> in the market by the end of 2025, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/business\/real-estate\/qube-development-plans-680mln-property-portfolio-in-dubai-fcwdetww\" style=\"\" rel=\"noopener\">press release<\/a>. Specializing in sustainable developments across 2.3 mn sqft in Dubai, they have already acquired 623k sqft of land.<\/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- UBS taps 10 senior bankers from Deutsche Bank and HSBC:<\/strong> Swiss bank UBS tapped HSBC veteran Rana Al Emam (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/rana-al-emam-2a05842b\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">Linkedin<\/a>) to assume responsibility for growing the business in Abu Dhabi, according to a press release picked up by <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/ubs-strengthens-global-wealth-managements-middle-east-team-with-ten-new-hires-ji9hq73i\" style=\"\" rel=\"noopener\">Zawya<\/a>. Al Emam is one of three senior bankers to join UBS from Deutsche Bank and HSBC to positions in the region as UBS looks to expand its wealth management team in MENA.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a>  <strong>#3- There\u2019s a new Abu Dhabi Family Business Index: <\/strong>Abu Dhabi\u2019s Economic Development Department and the United Arab Emirates University launched a new index measuring performance metrics for family-owned and family-controlled businesses in Abu Dhabi, the <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/economy\/abu-dhabi-department-of-economic-development-partners-with-united-arab-emirates-university-to-launch-abu-dhabi-family-business-index\/\" style=\"\" rel=\"noopener\">Abu Dhabi Media Office<\/a> reports. The index covers revenue, industry, employment, governance, leadership gender ratios, succession planning, longevity, and socio-economic impact.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Drake &amp; Scull board steps down ahead of general assembly: <\/strong>The board of Dubai-listed contractor <a target=\"_blank\" href=\"https:\/\/www.drakescull.com\/\" style=\"\" rel=\"noopener\">Drake &amp; Skull<\/a> has resigned, calling for the election of new board members in its coming general assembly, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1600.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a> to the Dubai Financial Market (DFM). The meeting is reportedly set to take place a month from now, according to <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/markets\/equities\/drake-and-scull-board-resigns-ahead-of-general-assembly-pzr565tt\" style=\"\" rel=\"noopener\">Zawya<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>The company <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/edition\/am\/f80848b2-85b8-4235-95f0-ae717000c4b8\" style=\"\" rel=\"noopener\">returned<\/a> to the DFM on 29 May, after being suspended from trading in November 2018 due to excessive financial losses and reporting violations. An ambitious restructuring plan has been underway, which seeks to write off 90% of its debt and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/794367e9-d827-41fd-ad72-7989318e8ef1\" style=\"\" rel=\"noopener\">issue<\/a> mandatory convertible sukuk. The company increased its capital to around AED 2.89 bn after <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/39a70cf5-950a-43b1-b6dc-5836b846a059\/\" style=\"\" rel=\"noopener\">raising AED 450 mn<\/a> from shareholders last month.<\/p>\n<p class=\"tag-border-left\">UPDATE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Indian Cement Manufacturer UltraTech is set to acquire an additional 25% stake in Ras Al<\/strong><strong> Khaimah White Cement<\/strong> (Rak White Cement) \u2014 equivalent to 133 mn shares \u2014 after Rak White Cement shareholders accepted the sale offer, according to a company <a target=\"_blank\" href=\"https:\/\/adxservices.adx.ae\/cdn\/contentdownload.aspx?doc=3183790\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The additional stake purchase comes after Ultratech revised the size of their offer from its original target of a 31% stake. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CLARIFICATION-<\/strong> The offering period closed on Monday after shareholders agreed to sell the stake to UltraTech before the original deadline, and was not extended until 26 July, as we suggested in yesterday\u2019s issue. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Ultratech already owned a 29% stake in Rak White Cement, which it acquired 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<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<br \/><\/strong><strong>DID YOU KNOW that we also cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Egypt<\/a><\/strong><strong> and <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong>?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to subscribe? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of EnterpriseAM UAE delivered every weekday before 7am UAE time \u2014 without charge, thanks to our friends at Mashreq.<br \/><strong>***<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/uaeformar.enterprise.news\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/836.jpg?ssl=1\"><\/a> <\/p>\n<p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An eclectic mix of stories is playing out across the front pages of the global business <\/strong><strong>press<\/strong>, with coverage of the EU\u2019s latest bid to \u201ctame\u201d big tech playing out alongside stories about Volkswagen, Citigroup, and the prospect of war in Asia. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Financial Times is going all-in with its coverage of how European Union regulators <\/strong><strong>are looking to bring Big Tech to heel. <\/strong>Earlier this week, the bloc <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/898338c2-b9fd-4494-be3f-75b7c669c705\" style=\"\" rel=\"noopener\">accused Apple of breaking so-called \u201cgatekeeper rules\u201d<\/a>, for which they\u2019re threatening to fine the company up to 10% of its global revenues. Yesterday, they <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/eb83bb45-84b3-4c58-9589-684029d23243\" style=\"\" rel=\"noopener\">went after Microsoft<\/a> with antitrust violations over Teams.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Those are just the latest charges the EU has levied against big US tech firms, and Apple <\/strong><strong>is sending a message of its own: <\/strong>The company is <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/360751cb-7a22-48e0-9b00-6a30ff41dcfe\" style=\"\" rel=\"noopener\">delaying the rollout to users in the EU<\/a> of a bunch of new features in the new iOS due out this fall \u2014 including Apple Intelligence \u2014 because of uncertainty about how the EU will view them under the Digital Markets Act.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A must read <\/strong>for those of you who want to go deeper: <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/1f479787-110a-4bc1-86a4-b91076256e5c\" style=\"\" rel=\"noopener\">What are the battle lines between the EU<\/a><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/1f479787-110a-4bc1-86a4-b91076256e5c\" style=\"\" rel=\"noopener\">and Big Tech?<\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- Volkswagen<\/strong> is getting prominent front-page play in <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/e465b45f-5d6d-4903-8c36-216c1b453581\" style=\"\" rel=\"noopener\">the FT<\/a>, the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/autos\/volkswagen-to-invest-up-to-5-billion-into-ev-maker-rivian-8c121825?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">Wall Street<\/a><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/autos\/volkswagen-to-invest-up-to-5-billion-into-ev-maker-rivian-8c121825?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">Journal<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.handelsblatt.com\/unternehmen\/industrie\/volkswagen-vw-schmiedet-fuenf-milliarden-dollar-joint-venture-mit-rivian\/100047890.html\" style=\"\" rel=\"noopener\">Handelsblatt<\/a> after saying it will invest up to USD 5 bn in EV maker <strong>Rivian<\/strong> and <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/finance\/banking\/citigroup-jane-fraser-turnaround-bd6b081f?mod=hp_lead_pos7\" style=\"\" rel=\"noopener\">the FT<\/a> says time is running out for Jane Fraser\u2019s turnaround bid at <strong>Citigroup<\/strong>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CLOSER TO HOME:<\/strong><\/p>\n<ul>\n<li><strong>The Israeli military must start drafting ultra-Orthodox Jews<\/strong>, the country\u2019s supreme court has ruled. (<a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/06\/25\/world\/middleeast\/israel-military-ultra-orthodox-jews-supreme-court.html\" style=\"\" rel=\"noopener\">New York Times<\/a>)<\/li>\n<li><strong>Rioters protesting taxation in Kenya<\/strong> tried to storm the country\u2019s parliament. Five have so-far been killed in clashes with police. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/young-kenyan-tax-protesters-plan-nationwide-demonstrations-2024-06-25\/\" style=\"\" rel=\"noopener\">Reuters<\/a>) <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>JUST WHAT WE NEED: Another regional war. <\/strong>The Philippines\u2019 ambassador to Washington, Jose Manuel Romualdez, has for months been beating the drum about the prospect that conflict with China over a reef in the South China Sea could in turn spark a regional war. He\u2019s previously talked up the idea with the <a target=\"_blank\" href=\"https:\/\/www.globaltimes.cn\/page\/202312\/1303734.shtml\" style=\"\" rel=\"noopener\">Japanese press<\/a>, and President Ferdinand Marcos Jr. recently <a target=\"_blank\" href=\"https:\/\/www.aljazeera.com\/news\/2024\/6\/23\/philippines-wont-be-intimated-but-wont-start-war-amid-row-with-china\" style=\"\" rel=\"noopener\">said in a speech<\/a> that it won\u2019t start the war \u2014 but \u201cwon\u2019t be intimidated\u201d by China, either. The <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/b159b5a6-ba06-401c-8585-bc71ad73a69f\" style=\"\" rel=\"noopener\">Financial Times<\/a> has since lined up its own interview with Romualdez, and it\u2019s getting front-page play this morning.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/drake-scull\/\">Drake &amp; Scull<\/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\/rak-white-cement\/\">RAK White Cement<\/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\/ultratech\/\">UltraTech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93235\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" 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class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"93236\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/26\/uae-sells-usd-1-5-bn-in-first-eurobond-issuance-since-september\/\">\r\n                            UAE sells USD 1.5 bn in first eurobond issuance since September                        <\/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\" 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    \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\/26\/uae-sells-usd-1-5-bn-in-first-eurobond-issuance-since-september\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1597.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93237\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/26\/uae-sells-usd-1-5-bn-in-first-eurobond-issuance-since-september\/1597-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1597.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1597.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1597.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1597.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93236\" class=\"content-area-description single-story post-93236 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt tag-debt-watch 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\/.11a9dddf-235e-48c9-8166-f2ca01f308cf.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The UAE sold USD 1.5 bn-worth of eurobonds in its first sale of the paper <\/strong><strong>since September<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-25\/uae-to-follow-gulf-neighbors-wth-first-eurobond-since-september\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing people familiar with the matter. The issuance was 3.8x oversubscribed, with investors reportedly submitting bids for more than USD 5.75 bn, the business information service says.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the issuance:<\/strong> The USD-denominated eurobonds were sold at 60 bps above US Treasuries, after the sale drew in significant investor interest. The Finance Ministry had initially guided on a spread of 90 bps over Treasuries, <a target=\"_blank\" href=\"https:\/\/www.xm.com\/ar\/research\/markets\/allNews\/reuters\/united-arab-emirates-launches-10year-bond-sale-document-shows-53867196\" style=\"\" rel=\"noopener\">Reuters<\/a> had reported earlier.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While the UAE could do without the funds, the debt sale \u201ccould be aimed at improving<\/strong><strong> liquidity in the debt curve,\u201d<\/strong> Zeina Rizk, co-head of fixed income at Amwal Capital Partners in Dubai told Bloomberg. Investors are likely to keep trading the bonds if the issuer has \u201cplenty\u201d of outstanding debt maturities, making the bonds \u201cremain in the market, to keep the curve liquid.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Last <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/01e6e28d-c584-49d5-a2e4-4d1c933d717b\/abu-dhabi-raises-usd-5-bn-in-first-eurobond-sale-in-three-years#:~:text=Abu%20Dhabi%E2%80%99s%20first,Al%20Arabiya%20reports\" style=\"\" rel=\"noopener\">April<\/a>, Abu Dhabi sold its first eurobond issuance in three years, raising around USD 5 bn in one of the biggest emerging market transactions of the year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE is a <\/strong><a target=\"_blank\" href=\"https:\/\/u.ae\/en\/information-and-services\/finance-and-investment\/uae-global-credit-rating#:~:text=Rating%20by%20Moody'\" style=\"\" rel=\"noopener\">top-rated issuer<\/a>, holding an Aa2 credit rating from Moody\u2019s and an AA- rating from Fitch with a stable outlook from both agencies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> Credit Agricole, Emirates NBD Bank, First Abu Dhabi Bank, HSBC Holdings, JPMorgan Chase &amp; Co. and Standard Chartered acted as arranging banks on the issuance, according to Bloomberg.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt-watch\/\">DEBT 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=\"93238\" 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=\"93238\">\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\/26\/e-enterprise-to-acquire-100-of-turkeys-glasshouse\/\">\r\n                            e&amp; enterprise to acquire 100% of Turkey\u2019s GlassHouse                        <\/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\/26\/e-enterprise-to-acquire-100-of-turkeys-glasshouse\/\" 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\/26\/e-enterprise-to-acquire-100-of-turkeys-glasshouse\/')\">\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\/26\/e-enterprise-to-acquire-100-of-turkeys-glasshouse\/\">\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=e&#038; enterprise to acquire 100% of Turkey\u2019s GlassHouse&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/26\/e-enterprise-to-acquire-100-of-turkeys-glasshouse\/\">\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\/26\/e-enterprise-to-acquire-100-of-turkeys-glasshouse\/&title=e&#038; enterprise to acquire 100% of Turkey\u2019s GlassHouse\">\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=e%26%23038%3B+enterprise+to+acquire+100%25+of+Turkey%E2%80%99s+GlassHouse+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F26%2Fe-enterprise-to-acquire-100-of-turkeys-glasshouse%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\/26\/e-enterprise-to-acquire-100-of-turkeys-glasshouse\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2561.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93239\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/26\/e-enterprise-to-acquire-100-of-turkeys-glasshouse\/2561-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2561.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2561.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2561.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2561.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93238\" class=\"content-area-description single-story post-93238 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-e tag-enterpriseam-uae tag-ma tag-ma-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.08bbd0fe-a256-4352-8fee-7faa8d8a7143.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Emirates Telecommunications Group\u2019s (e&amp;) <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.eandenterprise.com\/en\/index.html\" style=\"\" rel=\"noopener\">e&amp; enterprise<\/a><\/strong><strong> is acquiring 100% of Turkey-based cloud services provider <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.glasshouse.com.tr\/en\/\" style=\"\" rel=\"noopener\">GlassHouse<\/a><\/strong><strong> for USD 60 mn<\/strong>, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1628.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>. The transaction will be carried out through debt financing, and is structured on a cashfree, debtfree basis.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The move coincides with e&amp; enterprise\u2019s push to scale operations,<\/strong> ramp up digital capabilities, and expand globally. The acquisition is subject to customary closing conditions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About GlassHouse: <\/strong>GlassHouse is a leading provider in Turkey for data backup, business continuity, managed cloud, and SAP Infrastructure services, serving some 2k enterprises across banking, technology, telecommunications, public services, aerospace, and defense sectors. The company has offices in Turkey, Qatar, and South Africa.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next?<\/strong> GlassHouse\u2019s financials will be consolidated into e&amp;'s post-acquisition, with the impact on e&amp;'s financials expected to be insignificant but will be EPS accretive, the disclosure reads. GlassHouse generates more than 80% of its revenue in USD.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/e\/\">e&amp;<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma\/\">M&amp;A<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93240 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"93240\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/26\/93240-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93240\" class=\"content-area-description single-story post-93240 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.mashreq.com\/en\/uae\/about-us\/our-company\/awards-accolades\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1928.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93241\" 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=\"93241\">\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\/26\/bond-investments-snags-uzbekistan-based-poytakht-bank-for-usd-10-mn\/\">\r\n                            Bond Investments Limited snags Uzbekistan-based Poytakht Bank for USD 10 mn                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/26\/bond-investments-snags-uzbekistan-based-poytakht-bank-for-usd-10-mn\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" 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href=\"https:\/\/api.whatsapp.com\/send?text=Bond+Investments+snags+Uzbekistan-based+Poytakht+Bank+for+USD+10+mn+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F26%2Fbond-investments-snags-uzbekistan-based-poytakht-bank-for-usd-10-mn%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/26\/bond-investments-snags-uzbekistan-based-poytakht-bank-for-usd-10-mn\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1922.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93242\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/26\/bond-investments-snags-uzbekistan-based-poytakht-bank-for-usd-10-mn\/1922-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1922.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1922.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1922.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1922.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93241\" class=\"content-area-description single-story post-93241 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-banking tag-enterpriseam-uae tag-ma tag-ma-watch tag-uzbekistan 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\/.bf8a2b64-82d3-4a19-9b79-0aba704aa684.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong><a target=\"_blank\" href=\"https:\/\/dasholding.ae\/\" style=\"\" rel=\"noopener\">Das Holding<\/a><\/strong><strong> subsidiary<\/strong><strong> Bond Investments is set to acquire 100% of Uzbekistan-based Poytakht<\/strong><strong> Bank from Uzbekistan's State Assets Management Agency <\/strong>(<a target=\"_blank\" href=\"https:\/\/davaktiv.uz\/en\" style=\"\" rel=\"noopener\">UzSAMA<\/a>) for USD 10 mn, subject to approval from the Central Bank of Uzbekistan, according to a <a target=\"_blank\" href=\"https:\/\/davaktiv.uz\/en\/news\/dostignuto-soglashenie-po-prodazhe-100-paketa-aktsij-ao-pojtaht-bank\" 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>Bond Investments\u2019 bid stood out:<\/strong> The investment firm\u2019s offer \u201cexceeds both the purchase price offer received from other bidders and the appraised value previously calculated by an independent appraiser,\u201d the statement says. UzSAMA had terminated a previous agreement with Russia\u2019s Expobank for the transaction over geopolitical constraints.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>Bond Investments Limited \u2014 known for establishing successful banks, including Islamic and digital banks \u2014 plans to modernize Poytakht Bank with advanced mobile and digital financial technologies. The investment firm has drafted a comprehensive development plan to upgrade the bank's infrastructure.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The sale comes as a \u201cnew Uzbekistan\u201d looks to privatize some 620 state-owned <\/strong><strong>enterprises <\/strong>and attract foreign investment under Uzbekistan\u2019s President Shavkat Mirziyoyev\u2019s reform agenda. The national plan \u2014 which was launched in <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/article\/uzbekistan-privatisation-idINL8N2HJ68U\" style=\"\" rel=\"noopener\">2020<\/a> \u2014 aims to transition Uzbekistan to a market-driven economy. It has so far privatized Ipoteka Bank in <a target=\"_blank\" href=\"https:\/\/www.ipotekabank.uz\/en\/news\/ipotekabank_otpgroup\/#:~:text=In%20December%202022%2C%20the%20parties,of%20the%20Republic%20of%20Uzbekistan.\" style=\"\" rel=\"noopener\">2022<\/a> and the Coca-Cola bottling plant by the Turkish CCI Group in 2021.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors: <\/strong><a target=\"_blank\" href=\"https:\/\/www2.deloitte.com\/\" style=\"\" rel=\"noopener\">Deloitte<\/a> oversaw the tender and led the evaluation process for UzSAMA, while KPMG was the bank\u2019s independent appraiser.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/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\/uzbekistan\/\">Uzbekistan<\/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=\"93243\" 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=\"93243\">\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\">REGULATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/26\/cbuae-issues-regulatory-sandbox-for-fintechs\/\">\r\n                            CBUAE to attract fintechs with regulatory sandbox                        <\/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\/26\/cbuae-issues-regulatory-sandbox-for-fintechs\/\" 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\/26\/cbuae-issues-regulatory-sandbox-for-fintechs\/')\">\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\/26\/cbuae-issues-regulatory-sandbox-for-fintechs\/\">\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=CBUAE issues regulatory sandbox for fintechs&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/26\/cbuae-issues-regulatory-sandbox-for-fintechs\/\">\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\/26\/cbuae-issues-regulatory-sandbox-for-fintechs\/&title=CBUAE issues regulatory sandbox for fintechs\">\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=CBUAE+issues+regulatory+sandbox+for+fintechs+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F26%2Fcbuae-issues-regulatory-sandbox-for-fintechs%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\/26\/cbuae-issues-regulatory-sandbox-for-fintechs\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1344.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93244\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/26\/cbuae-issues-regulatory-sandbox-for-fintechs\/1344-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1344.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1344.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1344.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1344.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93243\" class=\"content-area-description single-story post-93243 post type-post status-publish format-standard has-post-thumbnail hentry category-regulation-watch tag-central-bank-of-the-uae tag-enterpriseam-uae tag-fintech tag-regulation-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\/.2e844491-3a95-4ec1-ac32-fa913726077b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Fintech companies now have their own sandbox: <\/strong>The CBUAE introduced the Sandbox Conditions Regulation, which allows fintech players to trial new businesses, offerings, or services prior to their official launch, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1610.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The sandbox offers fintechs and startups a lenient regulatory setting to experiment with their business models or products, with the goal of attracting more startups to set up operations in the UAE. The introduction of the sandbox looks to boost competitiveness and contribute to the economic growth of the UAE, the central bank said. The guidelines came into effect following their publication in the Official Gazette.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The conditions: <\/strong>The regulatory sandbox outlines the criteria that fintechs and startups need to fulfill in order to test their products without needing a license. This trial period is subject to specific conditions, which include the requirement for participating businesses to introduce a new financial product or service that will either cater to the industry or provide benefits to consumers. The regulations state that applicants must make their product or service available to a broader customer base in the UAE once they exit the sandbox.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What was said: <\/strong>\u201cBy providing a structured platform for experimentation, we are encouraging innovators to contribute positively to the wider economy and participate actively in Sandbox Conditions Regulation, whilst ensuring consumer protection and achieving the interests of all stakeholders,\u201d CBUAE Governor Khaled Mohamed Balama said. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/central-bank-of-the-uae\/\">Central Bank of the UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/fintech\/\">fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/regulation-watch\/\">REGULATION 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=\"93245\" 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=\"93245\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/26\/apicorp-records-51-income-growth-in-2023\/\">\r\n                            Apicorp records 51% income growth 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\/26\/apicorp-records-51-income-growth-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(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2024\/06\/26\/apicorp-records-51-income-growth-in-2023\/')\">\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\/26\/apicorp-records-51-income-growth-in-2023\/\">\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=Apicorp records 51% income growth in 2023&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/26\/apicorp-records-51-income-growth-in-2023\/\">\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\/26\/apicorp-records-51-income-growth-in-2023\/&title=Apicorp records 51% income growth in 2023\">\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=Apicorp+records+51%25+income+growth+in+2023+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F26%2Fapicorp-records-51-income-growth-in-2023%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\/26\/apicorp-records-51-income-growth-in-2023\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1619.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93246\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/26\/apicorp-records-51-income-growth-in-2023\/1619-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1619.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1619.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1619.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1619.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93245\" class=\"content-area-description single-story post-93245 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-earnings-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\/.47359295-9897-4f3a-87a5-aaf32c263a74.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Arab Petroleum Investments Corporation (Apicorp) saw its net income rise 51% y-o-y<\/strong> to USD 225 mn (AED 826 mn) in FY 2023, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1594.pdf\" style=\"\" rel=\"noopener\">financial statements (pdf)<\/a>. Total assets also increased to USD 9.9 bn (AED 36 bn), marking a 23% y-o-y increase compared to 2022. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93247\" 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=\"93247\">\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\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/26\/mbrsg-gets-a-board-of-trustees\/\">\r\n                            MBRSG gets a Board of Trustees                        <\/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\/26\/mbrsg-gets-a-board-of-trustees\/\" 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\/26\/mbrsg-gets-a-board-of-trustees\/')\">\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\/26\/mbrsg-gets-a-board-of-trustees\/\">\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=MBRSG gets a Board of Trustees&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/26\/mbrsg-gets-a-board-of-trustees\/\">\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\/26\/mbrsg-gets-a-board-of-trustees\/&title=MBRSG gets a Board of Trustees\">\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=MBRSG+gets+a+Board+of+Trustees+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F26%2Fmbrsg-gets-a-board-of-trustees%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\/26\/mbrsg-gets-a-board-of-trustees\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1658.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93248\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/26\/mbrsg-gets-a-board-of-trustees\/1658-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1658.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1658.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1658.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1658.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93247\" class=\"content-area-description single-story post-93247 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam-uae tag-mbrsg 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\/.009c247e-3f21-4dcf-856d-8b053d557e3c.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai Crown prince forms board for MBRSG:<\/strong> The Crown Prince of Dubai Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum formed a board for the Mohammed Bin Rashid School of Government (<a target=\"_blank\" href=\"https:\/\/www.mbrsg.ae\/home\" style=\"\" rel=\"noopener\">MBRSG<\/a>), to be chaired by the director-general of the Dubai Government Human Resources Department. <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3udhg2-hamdan-bin-mohammed-issues-decision-mohammed-bin\" style=\"\" rel=\"noopener\">Wam<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The board will include representatives from:<\/strong> The General Secretariat of Dubai Executive Council and the Dubai Digital Authority, with Tayeb Amanullah Mohammed Kamali, Raja Mohammed Al Mazrouei, and Yasar Farouk Jarrar appointed as members, alongside the MBRSG CEO.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/mbrsg\/\">MBRSG<\/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=\"93249\" 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=\"93249\">\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\">UAE IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/26\/praise-for-us-uae-ai-ties\/\">\r\n                            Microsoft\u2019s USD 1.5 bn investment in G42 hailed as a positive development                        <\/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\/26\/praise-for-us-uae-ai-ties\/\" target=\"_blank\">\n                    Open in new tab                    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AI ties&url=https:\/\/enterpriseam.com\/uae\/2024\/06\/26\/praise-for-us-uae-ai-ties\/\">\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\/26\/praise-for-us-uae-ai-ties\/&title=Praise for US + UAE AI ties\">\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=Praise+for+US+%2B+UAE+AI+ties+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F06%2F26%2Fpraise-for-us-uae-ai-ties%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\/26\/praise-for-us-uae-ai-ties\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1632.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93250\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/26\/praise-for-us-uae-ai-ties\/1632-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1632.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1632.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1632.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1632.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93249\" class=\"content-area-description single-story post-93249 post type-post status-publish format-standard has-post-thumbnail hentry category-uae-in-the-news tag-ai tag-enterpriseam-uae tag-g42 tag-microsoft tag-uae-in-the-news wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.6aebc18c-2d12-4f14-9de3-94227b8b5265.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The White House is pleased with Microsoft\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/0cc78916-0227-4247-b601-f1bf74f38c73\/microsoft-pumps-usd-1.5-bn-into-abu-dhabi%25e2%2580%2599s%253cmark%253e-g42%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">USD 1.5 bn investment<\/a><\/strong><strong> in IHC-backed G42<\/strong> as it led to G42 cutting ties with China\u2019s Huawei, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/microsoft-g42-deal-positive-because-it-cut-huawei-ties-white-house-official-says-2024-06-24\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing White House technology advisor Tarun Chhabra. Chhabra praised the investment as a \u201cpositive development and one that [the US wants] to encourage,\u201d set against the UAE and the Middle East rising as a prominent player in what the news outlet dubs the \u201ctech war between the United States and China.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>G42 has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/edition\/am\/45bff422-6aef-41f5-bd13-0fce03beb4d9\/Real-estate-market-growth-will-be-driven-by-expats-%2B-HNWI,-Markaz-suggests#:~:text=%232%2D%20Did%20G42%20offload%20stakes%20in%20Chinese%20companies%3FIHC%2Dbacked%20tech%20and%20AI%20group%20G42%20has%20sold%20its%20stakes%20in%20%E2%80%9Call%20its%20investments%20in%20China%2C%E2%80%9D%20in%20a%20bid%20to%20reassure%20US%20partners%2C%20the%20Financial%20Times%20reports%2C%20citing%20a%20statement%20from%20G42%E2%80%99s%20investment%20arm%2C%2042XFund.\" style=\"\" rel=\"noopener\">offloaded its stakes<\/a> in all its investments in China, reportedly in a bid to appease US partners, and there were suggestions it could also give up its use of Huawei telecom equipment.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/g42\/\">G42<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/microsoft\/\">Microsoft<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/uae-in-the-news\/\">UAE IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93251\" 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=\"93251\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/26\/comfi-secures-usd-5-mn-debt-facility-for-b2b-payments-expansion-in-uae-and-ksa\/\">\r\n                            Comfi secures USD 5 mn debt facility for B2B payments expansion in UAE and KSA                        <\/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\/26\/comfi-secures-usd-5-mn-debt-facility-for-b2b-payments-expansion-in-uae-and-ksa\/\" 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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Comfi plans to use the financing to facilitate USD 40 mn in transactions across the UAE and KSA in the coming year. The financing will also support Comfi\u2019s expansion of its payment solutions for B2B supply-chain businesses, offering real-time credit terms for a maximum of 90 days to customers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Dubai-based fintech startup <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.pyypl.com\/\" style=\"\" rel=\"noopener\">Pyypl<\/a><\/strong><strong> will issue virtual and prepaid Visa cards<\/strong> after receiving principal license membership from Visa, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/pyypl-announces-its-principal-membership-and-trademark-licence-with-visa-ru5eq1iv\" style=\"\" rel=\"noopener\">press release<\/a>. The license will allow the digital wallet to issue the cards to its customers via its application. Additionally, Pyypl inked a partnership agreement with Visa aimed at accelerating its international expansion, \u201c[grow] Pyypl\u2019s presence, and [contribute] to advancing financial inclusion across the region,\u201d Pyypl CEO Antti Arponen said. <\/p>\n<p class=\"tag-border-left\">BANKING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ajman Bank customers will now be able to use their Jaywan cards at the bank\u2019s ATMs<\/strong> after the bank completed the integration of the central bank-backed card into its network, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/ajman-bank-among-the-first-in-the-uae-to-accept-jaywan-cards-across-its-atm-network-l27vg3tu\" style=\"\" rel=\"noopener\">press release<\/a> picked up by Zawya.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-&nbsp;<\/strong>Jaywan cards \u2014 which were introduced by the central bank\u2019s digital payments arm Al Etihad Payments earlier this month \u2014 are <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/3a605ed6-c27e-4d8d-9e30-260947aea4d5\/network-international-becomes-first-to-roll-out%253cmark%253e-jaywan-%253c%2Fmark%253ecards-for-merchants\" style=\"\" rel=\"noopener\">being rolled out<\/a> in stages among local banks as policymakers target to replace some 10 mn debit cards in circulation over the next two and a half years. <\/p>\n<p class=\"tag-border-left\">EVs-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Vietnam-based EV manufacturer sets up HQ in Dubai: <\/strong>The Dubai International Chamber helped <a target=\"_blank\" href=\"https:\/\/vinfastauto.us\/\" style=\"\" rel=\"noopener\">VinFast Electric Cars<\/a> open its regional headquarters in Dubai\u2019s Jebel Ali Freezone through a series of stakeholder meetings, according to the <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2024\/june\/20-06\/dubai-international-chamber-successfully-attracts\" style=\"\" rel=\"noopener\">Dubai Media Office<\/a>. VinFast has dealer agreements in the UAE and Oman, with future plans to expand its product line in the region. <\/p>\n<p class=\"tag-border-left\">EDUCATION- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Education provider Taaleem Holdings is set to open its new Dubai British School Jumeira<\/strong> and welcome students for the new 2024-25 academic year after receiving a certificate of completion, a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1575.pdf\" style=\"\" rel=\"noopener\">DFM filing (pdf)<\/a> reads. The new school can accommodate 1.9k students, but already has a waitlist \u201cdue to its high demand.\u201d<\/p>\n<p class=\"tag-border-left\"> MANUFACTURING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ta\u2019ziz + Mitsui break ground on Al Ruwais ammonia plant: <\/strong>The construction of the 1 mn ton-per-year <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/e4095b98-c83e-4b4e-8d12-83516aa59212\/tecnimont-secures-contract-to-build-low-carbon-ammonia-plant-in%253cmark%253e-al-ruwais%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">green ammonia plant<\/a> in Al Ruwais Industrial City has commenced, led by Japan\u2019s Mitsui &amp; Co alongside Adnoc and ADQ's joint venture Ta\u2019ziz, UAE-based Fertiglobe, and Korea's GS Energy Corporation, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/japans-mitsui-build-ammonia-plant-uae-starting-production-2027-2024-06-25\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. The plant will be equipped with CO2 capture and storage facilities, aiming to start clean ammonia production by 2030.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> Mitsui will source clean ammonia from the new plant to supply Japan and other Asian markets for fuel, chemicals, and fertilizers, the newswire writes. The Japan Bank for International Cooperation and Sumitomo Mitsui Banking Corp have provided the Japanese company a USD 27 mn loan to finance the project.<\/p>\n<p class=\"tag-border-left\"> STARTUPS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Du, DIFC to roll out workshops for startups: <\/strong>Telecom operator du has teamed up with the Dubai International Financial Center\u2019s Innovation Hub to launch an educational program \u2014 dubbed du Business Entrepreneurship Programme \u2014 to help startups and SMEs scale up their businesses, according to a <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2024\/june\/25-06\/difc-innovation-hub\" style=\"\" rel=\"noopener\">statement<\/a>. Workshops in the program will focus on digital literacy, communication, marketing, cybersecurity, and AI integration, the statement read.<\/p>\n<p class=\"tag-border-left\">HEALTHCARE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Smart Salem introduces gut health tests: <\/strong><a target=\"_blank\" href=\"https:\/\/www.smartsalem.ae\/\" style=\"\" rel=\"noopener\">Smart Salem<\/a>, a joint venture for medical tests and screening by <a target=\"_blank\" href=\"https:\/\/dubaihealth.ae\/\" style=\"\" rel=\"noopener\">Dubai Health<\/a> and French <a target=\"_blank\" href=\"https:\/\/www.kleaholding.com\/home-en\/\" style=\"\" rel=\"noopener\">Klea Holding<\/a>, is now providing tests for gut microbiome, according to a statement picked up by <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/smart-salem-launches-premium-ai-powered-microbiome-gut-health-testing-in-uae-cqv80z8x\" style=\"\" rel=\"noopener\">Zawya<\/a>. The AI-powered test uses whole-genome shotgun metagenomic sequencing and is priced at AED 2.5k.<\/p>\n<p class=\"tag-border-left\">TRANSPORT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai is getting its first hydrogen bus: <\/strong>Swaidan Trading Company will supply Dubai with its first eco-friendly hydrogen bus under an agreement it inked with the Roads and Transport Authority (RTA) on Monday, according to a <a target=\"_blank\" href=\"https:\/\/www.rta.ae\/wps\/portal\/rta\/ae\/home\/news-and-media\/all-news\/NewsDetails\/rta-and-swaidan-partner-to-trial-eco-friendly-hydrogen-bus\" style=\"\" rel=\"noopener\">statement<\/a> from the authority.<\/p>\n<p class=\"tag-border-left\">SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai Aerospace sees its credit rating upgraded by Moody\u2019s: <\/strong>Moody\u2019s has upgraded the long-term issuer rating of Dubai Aerospace Enterprise (DAE) to Baa3 from Baa2 while revising its outlook on the aviation services company to stable from positive, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1636.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> from Moody\u2019s. The upgrade reflects the company\u2019s strong liquidity, diverse funding sources, solid operating results, and low debt-to-equity leverage, the credit rating agency said.<\/p>\n<p class=\"tag-border-left\">E-COMMERCE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Network International + Reem Finance partner to streamline UAE card transactions:<\/strong> Digital payments company Network International inked a strategic partnership with financial services provider Reem Finance to integrate its payment processing solutions, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/reem-finance-signs-with-network-international-to-accelerate-digital-transformation-b2a9d9v9\" style=\"\" rel=\"noopener\">press release<\/a>. This collaboration aims to streamline card transactions for both the consumer and commercial sectors in the UAE. The integrated solutions will encompass Network International\u2019s transaction processing, card hosting, management, and value-added services.<\/p>\n<p class=\"tag-border-left\">TECH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sharjah and China to ramp up tech cooperation:<\/strong> Sharjah Economic Development Department Chairman Hamad Ali Abdalla Al Mahmoud met with a delegation from China\u2019s Huawei Technologies Co yesterday to discuss boosting collaboration and institutional knowledge sharing in modern technology, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3udhg5-sedd-huawei-exchange-technological-solutions\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The meeting focused on establishing digital development strategies, innovative programs, and systems to bolster Sharjah's economic position, with Huawei presenting its latest technological solutions for potential implementation.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/e-commerce\/\">e-commerce<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/fintech\/\">fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/healthcare\/\">Healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/tech\/\">tech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/visa\/\">Visa<\/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=\"93253\" 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=\"93253\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/26\/em-just-had-the-busiest-day-of-the-year-on-the-bond-market\/\">\r\n                            EM just had the busiest day of the year on the bond market                        <\/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\/26\/em-just-had-the-busiest-day-of-the-year-on-the-bond-market\/\" 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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Yields on 10-year US Treasuries are down more than 10 basis points this month, with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/2a18d187-7472-4c3b-a1de-538b2e6492f2\/us-inflation-slips-in-may,-boosting-hopes-of-more-rate-cuts-this-year-despite-policymakers-signaling-one-rate-cut\" style=\"\" rel=\"noopener\">markets expecting<\/a> the US Federal Reserve to start winding down its monetary tightening sooner rather than later after May figures showed US inflation beginning to cool. \u201cNow is the calm before further external factors come into play,\u201d Oren Barack, managing director of fixed income at New York-based Alliance Global Partners, tells the business information service.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s tapping the market:<\/strong> Four countries \u2014 the UAE, the Dominican Republic, Indonesia, and South Korea \u2014 all tapped the market yesterday, making it \u201cone of 2024\u2019s busiest days.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EM debt markets already came out the gate strong at the start of 2024<\/strong>, with the first four days of the year seeing USD 24.4 bn worth of issuances, making it the \u201cbusiest start to a year on record for USD- and EUR- denominated debt issuance out of developing nations,\u201d the business information service <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-07\/bond-sales-hit-record-pace-as-emerging-markets-see-year-of-risks\" style=\"\" rel=\"noopener\">said at the time<\/a>. The momentum has been sustained in the months since, with some USD 300 bn of hard currency debt from EM sovereign and corporate issuers going to market year-to-date, rising c.30% y-o-y. <\/p>\n<p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are mixed in early trading this morning<\/strong>, with the ASX 200, Hang Seng, and Shanghai Composite all in the red and the Kospi and Nikkei both in the green. US stock futures are largely unchanged in overnight trading after the S&amp;P 500 and Nasdaq Composite each ended three-day losing streaks yesterday. Futures point to a mixed open in Europe later this morning. <\/p>\n<p><a target=\"_blank\" id=\"t.b407224882c3226c57fce8de0df2f56cb77af270\" 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\">9,002<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: -6.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3,999<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: -1.5%)<\/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>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\">3438<\/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: -10.5%)<\/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\">4.8% o\/n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.4% 1 yr<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,731<\/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: -2.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27,264<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.3% (YTD: +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>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\">5,469<\/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: +14.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,248<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: +6.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,936<\/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: +9.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 84.94<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.76<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.0%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,331.60<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 61,875.30<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+4.0% (YTD: +46.4%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The DFM fell 0.04% yesterday <\/strong>on turnover of AED 305.6 mn. The index is down 6% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>AL Salam Sudan (+12.8%), Watania International Holding (+6.2%) and Orascom Construction (+2.9%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Sukoon Takaful (-3%), National Central Cooling Co. (-2.9%) and Al Salam Bank (-2.5%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over on the ADX, <\/strong>the index closed down 0.2% on turnover of AED 1 bn. Meanwhile Nasdaq Dubai closed up 0.3%.<\/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>Adnoc Drilling announced a new dividend policy<\/strong> to increase dividends by at least 10% annually over the next five years (2024-2028), aiming for a total yield of over 27%, a <a target=\"_blank\" href=\"https:\/\/adnocdrilling.ae\/en\/news-and-media\/news-releases\/2024\/adnoc-drilling-confirms-new-enhanced-dividend-policy\" style=\"\" rel=\"noopener\">press release<\/a> reads. Adnoc\u2019s board may also approve extra dividends based on cash flow and growth opportunities. Dividends will be paid semi-annually, with final payments in the first half and interim payments in the second half of each fiscal year.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93255\" 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=\"93255\">\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\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/26\/assistant-foreign-minister-promotes-responsible-cyberspace-at-un-security-council\/\">\r\n                            Assistant Foreign Minister promotes responsible cyberspace at UN Security Council                        <\/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\/26\/assistant-foreign-minister-promotes-responsible-cyberspace-at-un-security-council\/\" 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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Sharaf urged the Security Council to prioritize international law in cyber technology, integrate cyber concerns into peace efforts, hold annual briefings on emerging technology threats, and foster strong public-private partnerships against cyber threats. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi Fund director-general leads Arab coordination meeting for sustainable <\/strong><strong>development: <\/strong>Abu Dhabi Fund for Development Director-General Mohammed Saif Al Suwaidi headed the latest annual meeting of the Arab Coordination Group in Vienna, Austria, focused on ramping up collaboration to support sustainable development goals across member countries, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3udh7h-adfd-chairs-annual-meeting-arab-coordination-group\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The meeting focused on reviewing strategies for addressing economic challenges, social issues, climate change impacts, and food security, with tocopics including infrastructure, healthcare, food security, and clean energy initiatives in developing countries.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/un\/\">UN<\/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=\"93257\" 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\/26\/93257-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93257\" class=\"content-area-description single-story post-93257 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\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>Fresh USD 1.5 bn eurobonds | e&#038; enterprise acquires Turkish cloud service player | New fintech sandbox<\/p>\n","protected":false},"featured_media":93232,"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-93231","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"da7eaff0-5bba-4bbf-b99f-3721e773fbd2","teaser":"Fresh 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