{"id":93509,"date":"2024-07-04T00:00:00","date_gmt":"2024-07-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=93509"},"modified":"2025-12-15T00:46:28","modified_gmt":"2025-12-15T00:46:28","slug":"non-oil-business-activity-continues-slowing-growth-trend-in-june","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/non-oil-business-activity-continues-slowing-growth-trend-in-june\/","title":{"rendered":"Non-oil business activity continues slowing growth trend in June"},"content":{"rendered":"<section id=\"93511\" 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=\"93511\">\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\/07\/04\/another-adnoc-acquisition-sharjah-sets-final-yield-on-usd-1-bn-sukuk-auction\/\">\r\n                            THIS MORNING: Another Adnoc acquisition? + Sharjah sets final yield on USD 1 bn sukuk auction                        <\/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\/07\/04\/another-adnoc-acquisition-sharjah-sets-final-yield-on-usd-1-bn-sukuk-auction\/\" 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\/07\/04\/another-adnoc-acquisition-sharjah-sets-final-yield-on-usd-1-bn-sukuk-auction\/')\">\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\/07\/04\/another-adnoc-acquisition-sharjah-sets-final-yield-on-usd-1-bn-sukuk-auction\/\">\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=Another Adnoc acquisition? 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Ras Al Khaimah Ruler Saud bin Saqr Al Qasimi is leading a delegation, which also consists of Energy Minister Suhail Al Mazrouei, Economy Minister Abdullah bin Touq Al Marri, and State Minister Ahmed bin Ali Al Sayegh, among others. SCO members expected to be in attendance include China, Russia, India, Pakistan, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, and Iran.<\/p>\n<p class=\"tag-border-left\"> PUBLIC SERVICE ANNOUNCEMENTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Samsung users can now upload their drivers\u2019 license and vehicle registration onto their <\/strong><strong>Samsung Wallet<\/strong>, after Dubai\u2019s Roads and Transport Authority (RTA) incorporated licenses and registrations onto Samsung via its app in partnership with Samsung Gulf Electronics, according to a <a target=\"_blank\" href=\"https:\/\/www.rta.ae\/wps\/portal\/rta\/ae\/home\/news-and-media\/all-news\/NewsDetails\/driving-licenses-and-registrations-now-integrated-into-samsung-wallet\" style=\"\" rel=\"noopener\">statement<\/a>. <\/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- Lunate mulls USD 5 bn in funding to accelerate acquisitions:<\/strong> Abu Dhabi-based alternative asset manager <a target=\"_blank\" href=\"https:\/\/lunate.com\/\" style=\"\" rel=\"noopener\">Lunate<\/a> could tap international and regional banks for a USD 5 bn subscription credit facility to back potential acquisitions, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-03\/abu-dhabi-s-lunate-weighs-raising-5-billion-to-hunt-for-deals\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing sources it says are in the know. The funding would allow Lunate to boost its USD 105 bn assets under management without asking for additional capital from its backers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Uh, Enterprise\u2026 what\u2019s a subscription credit facility? <\/strong>Subscription credit facilities are revolving loans secured against the capital commitments of the funds\u2019 investors. They offer funds and asset managers a faster way of accessing capital, instead of the traditional capital calls, which could take over 10 business days to process.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- Lunate\u2019s expansion has been going strong: <\/strong>Lunate <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/679f1d82-c0a2-46fc-9bf2-cdf14364c7a0\" style=\"\" rel=\"noopener\">reportedly<\/a> reached out to key shareholders of Adnoc\u2019s gas pipeline unit last month to up their stake from the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ad1607d0-1836-4a38-9afc-5a5f7132592a\/lunate-snags-40%2525-of-adnoc-oil-pipelines-from-blackrock-and%253cmark%253e-kkr%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">40%<\/a> they acquired from US private equity giants BlackRock and KKR &amp; Co in April. Lunate also acquired a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/3cf6d9db-4665-405d-96dd-4097badcd040\/%253cmark%253elunate%253c%2Fmark%253e-acquires-minority-stake-in-us-based-pe-firm-as-part-of-usd-3-bn-jv-with-blue-owl\" style=\"\" rel=\"noopener\">minority stake<\/a> in US healthcare firm Linden Capital Partners in May and secured a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/993cfa06-6832-4ab3-9cb3-ee96efb7c09a\/%253cmark%253elunate%253c%2Fmark%253e,-olayan-take-49%2525-stake-in-dubai%25e2%2580%2599s-largest-office-tower\" style=\"\" rel=\"noopener\">24.5% stake<\/a> in Dubai\u2019s largest office tower ICD Brookfield Place in April.<\/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- Another Adnoc acquisition in the works? <\/strong>Adnoc and Saudi Aramco are reportedly both studying bids for Australian oil and gas firm Santos, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-03\/aramco-adnoc-are-said-to-consider-bids-for-gas-producer-santos?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing sources it says are in the know. The company has a market value of some USD 16.7 bn, and has liquefied natural gas projects in Australia, Papua New Guinea and Timor-Leste. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Adnoc has been expanding its investments abroad: <\/strong>The energy giant <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/338dd02a-506c-4dc0-b525-18a065a6f7fa\/adnoc-acquires-10%2525-of-mozambique-lng-project\" style=\"\" rel=\"noopener\">acquired<\/a> a 10% stake in a concession Mozambique's Rovuma basin, and an 11.7% stake in the first phase of sustainable liquefied natural gas (LNG) producer NextDecade's USD 18 bn Rio Grande LNG export facility in Texas. It is also now in formal <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/0baa8498-7476-44fd-b102-ca389dc06758\/adnoc-%2B%253cmark%253e-covestro%253c%2Fmark%253e-kick-off-negotiations-after-revised-takeover-bid\" style=\"\" rel=\"noopener\">discussions<\/a> for a potential takeover of German chemical company Covestro. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Genesis Digital Assets eyes US listing: <\/strong>Dubai-based crypto miner <a target=\"_blank\" href=\"https:\/\/genesisdigitalassets.com\/\" style=\"\" rel=\"noopener\">Genesis Digital Assets<\/a> (GDA) is in talks with advisers over a potential IPO in the US, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-02\/alameda-backed-miner-genesis-digital-assets-said-to-weigh-us-ipo\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing people it says are familiar with the matter. The company is also considering launching a pre-IPO funding round in the coming weeks, one of the sources said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About GDA: <\/strong>GDA was <a target=\"_blank\" href=\"https:\/\/genesisdigitalassets.com\/genesis-mining-announces-genesis-digital-assets-an-industrial-scale-bitcoin-mining-operator\/\" style=\"\" rel=\"noopener\">founded<\/a> in 2021 by Marco Streng and Marco Krohn, co-founders of Genesis Mining, one of the first and largest cryptocurrency businesses. Genesis received over USD 1 bn investment from Sam Bankman-Fried\u2019s crypto trading firm Alameda Research. Currently, the crypto miner operates 20 data centers across North America, Europe, Central Asia, and South America, with offices in Dubai and Houston.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#4- Gulf Data Hub mulls offloading a minority stake:<\/strong> UAE-based data center operator <a target=\"_blank\" href=\"https:\/\/www.gulfdatahub.ae\/\" style=\"\" rel=\"noopener\">Gulf<\/a><a target=\"_blank\" href=\"https:\/\/www.gulfdatahub.ae\/\" style=\"\" rel=\"noopener\">Data Hub<\/a> tapped JP Morgan Chase as an adviser for a potential sale of a minority stake to investors, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-03\/data-center-firm-in-the-uae-is-said-to-weigh-minority-stake-sale?sref=YX0aeoLL\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing people it says are in the know. While the company has not reached a final decision yet on the timing or the value of the sale, it could be looking to bag as much as USD 1 bn and wrap it as early as 3Q 2024. Several global private equity firms have reportedly voiced their interest in the company.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#5- Sharjah set the final yield of its five-year AED 1 bn unsecured <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/4b4cd7fc-a679-4b4f-8d7d-fc8db7cb7eb2\/Sharjah%20launches%20AED%201%20bn%20sukuk%20auction\" style=\"\" rel=\"noopener\">sukuk issuance<\/a><\/strong><strong> at <\/strong><strong>5.5%<\/strong>, <a target=\"_blank\" href=\"https:\/\/arabic.arabianbusiness.com\/business\/business-banking\/%d8%a7%d9%84%d8%b4%d8%a7%d8%b1%d9%82%d8%a9-%d8%aa%d8%ad%d8%af%d8%af-%d8%a7%d9%84%d8%b9%d8%a7%d8%a6%d8%af-%d8%b9%d9%84%d9%89-%d8%b5%d9%83%d9%88%d9%83-%d8%a8%d9%85%d9%84%d9%8a%d8%a7%d8%b1-%d8%af%d8%b1\" style=\"\" rel=\"noopener\">Arabian Business<\/a> reports, citing an arranging document. The sukuk auction is now open for orders. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>Standard Chartered will act as the sole auction coordinator and bookrunner. Our friends at Mashreq, First Abu Dhabi Bank, and HSBC, alongside Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Bank of Sharjah, Dubai Islamic Bank, Emirates NBD Capital, Investbank, and Sharjah Islamic Bank will be the placement agents of the auction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>#6- Dubai\u2019s Sidara requested an extension until 31 July to submit another offer to UK <\/strong><strong>engineering firm Wood Group<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/sidara-seeks-time-till-july-31-make-another-offer-uks-wood-group-2024-07-03\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. Sidara previously <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/de98445d-93db-4679-a8ea-e4fb0f1e69be\/%253cmark%253esidara%253c%2Fmark%253e-gets-access-to-due-diligence-on-wood-group\" style=\"\" rel=\"noopener\">offered to acquire<\/a> Wood Group at GBP 2.3 per share in June, valuing the company at GBP 1.59 bn, which it said would be its final offer after Wood Group rejected its three earlier bids. The firm was given access to due diligence last month. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#7- AD Ports files bid for container terminal at India\u2019s Chidambaranar Port:<\/strong> A consortium spearheaded by AD Ports Group has reportedly filed initial bids on a state-run Chidambaranar Port Authority tender to build a USD 845 mn, 4 mn TEU capacity container terminal at the port, Indian news outlet the <a target=\"_blank\" href=\"https:\/\/infra.economictimes.indiatimes.com\/news\/ports-shipping\/vedanta-and-abu-dhabi-ports-file-initial-bids-for-rs7056-crore-container-terminal-at-voc-port\/111452091\" style=\"\" rel=\"noopener\">Economic Times<\/a> reports, citing people it says have knowledge of the matter. DP World is unlikely to proceed past the initial bid stage due to security concerns regarding its operation of a container terminal at Pakistan\u2019s Karachi Port and its business ties with Cosco Shipping in, the sources told ET.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#8- <\/strong><strong>Amazon is <\/strong><strong>working closely with UAE authorities to expedite its rollout of electric <\/strong><strong>vehicles for deliveries<\/strong>, the <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/future\/technology\/2024\/07\/03\/amazon-closely-co-ordinating-with-uae-authorities-to-use-ev-delivery-fleet\/\" style=\"\" rel=\"noopener\">National<\/a> reports. They are also addressing challenges, such as the impact of extreme heat on battery performance with partners to ensure the successful implementation of their goal to use 100k EVs for last-mile deliveries globally by 2030. \u201cIn this region, because of the extreme heat, there is not yet a scalable, fully-proven commercial electric vehicle model. Right now that is a challenge because of the temperature and the batteries,\u201d Prashant Saran, director of operations at Amazon Turkey and MENA told the National. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The initiative has kicked off with pilot testing<\/strong>, though a launch timeline has not been set. \u201cWe are already working with delivery service partners who are using electric scooters to deliver in some of the dense areas,\u201d Amazon MENAT Operations Director Prashant Saran told the National. <\/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>Politics is still dominating front pages in the foreign press<\/strong>, as more speculation on the potential outcome of French, British, and US elections swirls amid a fresh batch of polls. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the US: <\/strong>Biden is losing more ground in the presidential race with Donald Trump seeing a 6 percentage point lead in the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/politics\/elections\/trump-expands-lead-over-biden-after-debate-as-voters-age-worries-grow-wsj-poll-finds-c3a793ab?mod=hp_lead_pos1&amp;mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">Wall Street Journal\u2019s latest opinion poll<\/a>, speculations that Vice President Kamala Harris <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/vp-harris-top-choice-replace-biden-election-race-if-he-steps-aside-sources-say-2024-07-03\/\" style=\"\" rel=\"noopener\">could be taking his place<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.axios.com\/2024\/07\/03\/house-democrats-biden-jeffries-withdraw\" style=\"\" rel=\"noopener\">calls for him to step aside<\/a> growing louder. Biden seems to be growing more aware that his candidacy is at risk, according to a <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/07\/03\/us\/politics\/biden-withdraw-election-debate.html\" style=\"\" rel=\"noopener\">New York Times<\/a> report, though the White House has rejected claims that he is willing to step aside. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Across the pond: <\/strong>The Labour party is set for a landslide victory when voters go to the polls today in the UK, polls suggest, according to the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/986b19e2-3f0a-41b4-8a5a-ff728cb3eb1f\" style=\"\" rel=\"noopener\">Financial Times<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over in France: <\/strong>France\u2019s far-right Resemblement National is unlikely to secure a majority in upcoming snap elections, potentially leaving the country with a political gridlock with no party able to secure enough seats to form a government, the polls show, according to the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/a655a424-a91b-4796-a5e4-fd851a54bb40\" style=\"\" rel=\"noopener\">Financial Times<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>NON-ELECTIONS NEWS GETTING ATTENTION-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- A potentially \u201ccatastrophic\u201d category 5 hurricane \u2014 Hurricane Beryl \u2014 is heading towards Jamaica<\/strong> after killing at least seven people amid widespread destruction in the southeast Caribbean. (<a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/07\/03\/hurricane-beryl-breaks-records-as-it-wreaks-havoc-through-caribbean.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/hurricane-beryl-caribbean-jamaica-cayman-islands-774803fc70e187ea96e7df10f84d8a50\" style=\"\" rel=\"noopener\">AP<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/de03e6fe-cb77-4fe2-b00a-ad2ae790824b\" style=\"\" rel=\"noopener\">FT<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Israel and Hamas are approaching a potential ceasefire and hostage release agreement<\/strong>, with negotiators set to meet in the coming days, an Israeli source said. (<a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/07\/03\/middleeast\/israel-hamas-ceasefire-hostage-talks-intl-latam\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN THE BUSINESS PRESS- A couple of stories are getting ink: <\/strong><\/p>\n<ul>\n<li><strong>Saks Fifth Avenue clinched an agreement to buy rival Neiman Marcus for USD 2.65<\/strong> <strong>bn<\/strong>, with help from Amazon. (<a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/deals\/saks-owner-to-buy-neiman-marcuswith-help-from-amazon-f71a0fda?mod=hp_lead_pos3\" style=\"\" rel=\"noopener\">WSJ<\/a>)<\/li>\n<li><strong>The US Federal Reserve\u2019s June meeting minutes signal that the Fed is in no rush to begin cutting rates <\/strong>as it awaits more signs that inflation is on a downward trajectory. (<a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/07\/03\/fed-minutes-fomc-not-ready-to-cut-rates-until-greater-confidence-inflation-is-moving-to-2percent-goal.html\" style=\"\" rel=\"noopener\">CNBC<\/a>) <\/li>\n<\/ul>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/uaeformar.enterprise.news\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" 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story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"93514\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/07\/04\/non-oil-business-sees-slower-growth-in-june-amid-increased-competition-and-accumulated-backlogs\/\">\r\n                            Non-oil business sees slower growth in June amid increased competition and accumulated backlogs                        <\/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\" 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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/339.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"339.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/339.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/339.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93514\" class=\"content-area-description single-story post-93514 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam-uae tag-purchasing-managers-index 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\/7\/.784c6552-dcb4-4dac-952f-c07b6dbf4b53.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The UAE's non-oil business expanded at its softest rate since February 2023 <\/strong>on the back of competitive pressures and lower output, continuing a slowing growth trend that began at the start of the year, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/289.pdf\" style=\"\" rel=\"noopener\">S&amp;P Global\u2019s UAE Purchasing Managers\u2019 Index (pdf)<\/a>. The index dipped to 54.6 last month, down from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/a90e8911-2f75-48cf-9e86-474a1a01a4c4\/%253cmark%253epmi%253c%2Fmark%253e-growth-softens-in-may-amid-post-flood-disruptions\" style=\"\" rel=\"noopener\">55.3 in May<\/a>, still remaining above the 50.0 threshold that separates growth from contraction. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Companies saw a \u201crecord accumulation\u201d of backlogged orders <\/strong><span style=\"background-color: transparent;\">due to strong demand, the persistent impact of April\u2019s floods, and the ongoing Red Sea shipping crisis. However, the record inventory is \u201cshowing signs of easing, a trend that is likely to continue as the country recovers from April's floods and supply chains adapt to the current situation in the Red Sea,\u201d S&amp;P Global Market Intelligence Senior Economist David Owen said.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Still, robust demand is driving sustained expansion: <\/strong>\u201cCompanies are still enjoying strong customer demand and robust sales pipelines, which are sustaining output expectations and driving purchasing activity,\u201d Owen said. Strong demand meant businesses saw exports rise at their sharpest level since October last year on the back of increased acquisition of new clients.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Increased inflationary pressures led to price hikes: <\/strong>Businesses raised their selling prices for the second consecutive month, albeit modestly, as they continued to pass increased costs amid inflationary pressures \u2014 the highest seen in two years, according to purchasing managers \u2014 on to consumers. Alongside the rise in prices, salaries also saw an uptick. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Heightened competition is also driving firms to raise their prices, <\/strong>as businesses are \u201cfeeling the pain on their balance sheets and having to protect their margins,\u201d Owen highlighted.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Staffing levels grew last month <\/strong>but at the slowest rate since January as companies look to manage higher costs. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Businesses are still optimistic: <\/strong>Despite falling slightly from May, business sentiment was still \u201camong the best observed in the past four years,\u201d according to the survey. Expectations for future demand growth prompted businesses to hike input purchasing. <\/p>\n<p class=\"tag-border-left\">DUBAI-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai\u2019s PMI also slowed to its lowest level since February 2023 <\/strong>last month, falling to 54.3 in June, down from 54.7 in May. Despite new orders expanding in June, business activity grew at its most sluggish pace in three years, on the back of \u201chigh market competition that had limited their ability to take advantage of strong demand conditions.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Inflation pushed input prices to rise at their fastest pace in two years<\/strong>, leading to companies charging higher prices for the second consecutive month. On the other end, supplier performance saw a marked improvement, accompanied by an increase in staffing levels and positive sentiment. <\/p>\n<p class=\"tag-border-left\">ELSEWHERE IN THE REGION- <\/p>\n<ul>\n<li><strong>Saudi Arabia\u2019s PMI slumped to 55.0 in June, <\/strong>its lowest level in over two years, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/290.pdf\" style=\"\" rel=\"noopener\">S&amp;P\u2019s PMI (pdf)<\/a> ; <\/li>\n<li><strong>Qatar\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/299.pdf\" style=\"\" rel=\"noopener\">PMI (pdf)<\/a><\/strong> <strong> expanded at its fastest pace in almost two years to 55.9 in June, <\/strong>amid improved business conditions. <\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/economy\/\">Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/purchasing-managers-index\/\">Purchasing Managers\u2019 Index<\/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=\"93516\" 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=\"93516\">\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\/07\/04\/indian-crypto-unicorn-acquires-dubais-bitoasis\/\">\r\n                            Indian crypto unicorn acquires Dubai\u2019s BitOasis                        <\/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\/07\/04\/indian-crypto-unicorn-acquires-dubais-bitoasis\/\" 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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CoinDCX had already <a target=\"_blank\" href=\"https:\/\/blog.bitoasis.net\/bitoasis-secures-new-investment-from-coindcx-indias-preferred-and-most-valued-crypto-exchange\/\" style=\"\" rel=\"noopener\">invested<\/a> an undisclosed sum in the crypto firm in August 2023. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">The details:<\/strong><span style=\"background-color: transparent;\"> BitOasis investors are receiving equity in CoinDCX as part of the transaction, a CoinDCX spokesperson told <\/span><a target=\"_blank\" href=\"https:\/\/techcrunch.com\/2024\/07\/03\/coindcx-acquires-bitoasis-in-international-expansion-push\/?guccounter=1&amp;guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&amp;guce_referrer_sig=AQAAAKnW7EDcBg7J3S1tcq-q4XaIGw7lJFg5OD_RvOjWj2AuxdtIzu5a3axenRS-JujdhFgIw9AY4cORcPyOU75zI2Z1yMLK8PK0GBz6MhSNuX_aMA1jjIFXJlputT12w--_7rJ4KsUsnLl2VVPiURVgi4kqKgooQq8M9zYX2GE1rCVF\" rel=\"noopener\">TechCrunch<\/a><span style=\"background-color: transparent;\">, adding that the terms of the transaction were profitable for BitOasis backers.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next for the companies? <\/strong>While the CoinDCX team will join BitOasis, the crypto firm will retain its brand and leadership following the acquisition. The acquisition will help BitOasis provide improved crypto services, access to additional tokens, higher liquidity, and an enhanced trading experience, according to the statement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This comes as part of CoinDCX\u2019s regional expansion push:<\/strong> The acquisition is part of CoinDCX's strategy of targeting regions with clear crypto regulatory frameworks, leveraging mergers and acquisitions to grow, CoinDCX Co-founder Sumit Gupta told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-03\/india-crypto-exchange-coindcx-buys-bitoasis-in-mideast-expansion\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. The acquisition gives it a \u201cformidable foothold across the MENA region, catering to a diverse range of retail and institutional clients,\u201d he said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A favorable tax regime means crypto trading is easier here than in other locations: <\/strong>CoinDCX experienced a hit to its revenues in India after the implementation of a tax regime in 2022, which included a 1% transaction tax and a 30% tax on crypto gains. The UAE's more relaxed tax policies have encouraged ongoing trading activities here, Gupta stated<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About BitOasis:<\/strong> Established in 2016 and based in Dubai, BitOasis offers trading and custody services for more than 60 tokens, facilitating transactions with fiat currencies such as AED, SAR, and USD. The firm recently obtained a license from the Central Bank of Bahrain, allowing it to function as a broker-dealer. <\/p>\n<p class=\"tag-border-left\"> IN OTHER M&amp;A NEWS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ghitha acquires 100% of Arabian Farms Investment for AED 240 mn:<\/strong> Ghitha Holding\u2019s subsidiary, Al Ain Farms for Livestock production, acquired 100% of Saudi Sedco Holding\u2019s <a target=\"_blank\" href=\"https:\/\/www.arabianfarms.com\/our-company.php\" style=\"\" rel=\"noopener\">Arabian Farms<\/a>, including its assets in both the UAE and KSA, for AED 240 mn, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/331.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ghitha has been on an acquisition roll: <\/strong>Two of its subsidiaries <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/1e9c1f9c-7161-4ee3-9c3b-261ef26184ff\" style=\"\" rel=\"noopener\">kicked off<\/a> plans for cross-border acquisitions earlier this year, with Ghitha Aeroinvest entering into a share purchase agreement to acquire a 44% stake in Turkish air freight cargo company MNG Havayollari ve Tasimacilik for USD 211.2 mn, and its trading arm, Invictus Investment, saying it plans to acquire 60% of Zalar Holding\u2019s stake in Moroccan agriculture trader Graderco.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IHC unit withdraws from Zambian copper bid: <\/strong>International Holding Company\u2019s (IHC) mining investment arm, International Resources Holding (IRH), withdrew its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/1245f56d-ecc3-47f5-8d17-de3f56ca8d4a\/ihc-arm-has-its-eyes-on-another-zambia-mine-acquisition\" style=\"\" rel=\"noopener\">USD 1 bn bid for Mumbai-based Vedanta<\/a> 's stake in Zambia's Konkola Copper Mines, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/uaes-ihc-unit-withdraws-offer-vedantas-zambian-copper-mines-over-price-2024-07-03\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. Vedanta was reportedly only willing to sell a minority stake for nearly double the amount IRH offered for a larger shareholding, unnamed sources told the news outlet. <\/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\/bitoasis\/\">BitOasis<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/crypto\/\">CRYPTO<\/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\/india\/\">India<\/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=\"93518 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=\"93518\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/07\/04\/93518-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93518\" class=\"content-area-description single-story post-93518 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=\"93519\" 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=\"93519\">\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\">ENERGY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/07\/04\/e-to-develop-giant-private-5g-wireless-network-for-adnoc\/\">\r\n                            Adnoc + e&amp; to develop giant 5G wireless network                        <\/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\/07\/04\/e-to-develop-giant-private-5g-wireless-network-for-adnoc\/\" 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\/07\/04\/e-to-develop-giant-private-5g-wireless-network-for-adnoc\/')\">\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\/07\/04\/e-to-develop-giant-private-5g-wireless-network-for-adnoc\/\">\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; to develop giant private 5G wireless network for Adnoc&url=https:\/\/enterpriseam.com\/uae\/2024\/07\/04\/e-to-develop-giant-private-5g-wireless-network-for-adnoc\/\">\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\/07\/04\/e-to-develop-giant-private-5g-wireless-network-for-adnoc\/&title=e&#038; to develop giant private 5G wireless network for Adnoc\">\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+to+develop+giant+private+5G+wireless+network+for+Adnoc+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F07%2F04%2Fe-to-develop-giant-private-5g-wireless-network-for-adnoc%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\/07\/04\/e-to-develop-giant-private-5g-wireless-network-for-adnoc\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2072.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93520\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/07\/04\/e-to-develop-giant-private-5g-wireless-network-for-adnoc\/2072-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2072.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2072.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2072.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2072.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93519\" class=\"content-area-description single-story post-93519 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-adnoc tag-artificial-intelligence tag-energy 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\/7\/.cbc446e3-93f0-44c6-a434-e0c27456c0a4.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Adnoc + e&amp; to develop giant 5G wireless network:<\/strong> Telecoms giant e&amp; is building a private 11k sqkm 5G wireless network, expected to be the largest in the energy industry, for Adnoc, the oil and gas firm said in a <a target=\"_blank\" href=\"https:\/\/adnoc.ae\/en\/news-and-media\/press-releases\/2023\/adnoc-and-e-to-build-the-energy-industrys-largest-private-5g-wireless-network\" style=\"\" rel=\"noopener\">statement<\/a>. The project is expected to generate USD 1.5 bn (AED 5.5 bn) in value during its first five years of operation, and is scheduled to be completed next year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">The details: <\/strong><span style=\"background-color: transparent;\">The network will expand connectivity across Adnoc\u2019s onshore and offshore operations, the statement said, adding that this will support the energy firm\u2019s plans to integrate its AI solutions at its remote facilities. The project will also help reduce costs, improve efficiency, minimize emissions, and increase safety, and comes as part of Adnoc\u2019s strategy to \u201cbecome the world\u2019s most AI-enabled energy company.\u201d<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How it will work: <\/strong>The 5G network will transmit information from sensors embedded in more than 12k wells and pipelines to autonomous control rooms. The project will also help digitize wellheads and offer visibility operations in efforts to improve productivity across the company\u2019s value chain.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adnoc\/\">Adnoc<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/artificial-intelligence\/\">artificial intelligence<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93521\" 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=\"93521\">\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\">ENERGY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/07\/04\/adnoc-drilling-secures-usd-733-mn-contract-for-three-island-rigs\/\">\r\n                            Adnoc Drilling secures USD 733 mn contract                        <\/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\/07\/04\/adnoc-drilling-secures-usd-733-mn-contract-for-three-island-rigs\/\" 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\/07\/04\/adnoc-drilling-secures-usd-733-mn-contract-for-three-island-rigs\/')\">\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\/07\/04\/adnoc-drilling-secures-usd-733-mn-contract-for-three-island-rigs\/\">\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=Adnoc Drilling secures USD 733 mn contract for three island rigs&url=https:\/\/enterpriseam.com\/uae\/2024\/07\/04\/adnoc-drilling-secures-usd-733-mn-contract-for-three-island-rigs\/\">\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\/07\/04\/adnoc-drilling-secures-usd-733-mn-contract-for-three-island-rigs\/&title=Adnoc Drilling secures USD 733 mn contract for three island rigs\">\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=Adnoc+Drilling+secures+USD+733+mn+contract+for+three+island+rigs+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F07%2F04%2Fadnoc-drilling-secures-usd-733-mn-contract-for-three-island-rigs%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\/07\/04\/adnoc-drilling-secures-usd-733-mn-contract-for-three-island-rigs\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/342.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93522\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/07\/04\/adnoc-drilling-secures-usd-733-mn-contract-for-three-island-rigs\/342-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/342.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"342.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/342.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/342.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93521\" class=\"content-area-description single-story post-93521 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-adnoc tag-adnoc-drilling tag-artificial-intelligence tag-energy 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\/7\/.263800f1-b5a8-4953-a41c-ac5952c77308.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Adnoc Drilling secures USD 733 mn contract: <\/strong>Abu Dhabi National Company (Adnoc) Offshore handed <a target=\"_blank\" href=\"https:\/\/adnocdrilling.ae\/\" style=\"\" rel=\"noopener\">Adnoc Drilling<\/a> a USD 733 mn contract to operate and drill three new island rigs at the offshore Zakum field, in partnership with Hong Kong-based Honghua Group (HH), according to a company <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/294.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The rigs, which will be constructed by HH, will operate on existing and newly built artificial islands, and will expand Adnoc Drilling\u2019s fleet to 148 by 2026. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">The details: <\/strong><span style=\"background-color: transparent;\">The rigs, which will cost some USD 210 mn to acquire, are set for delivery and operation in 2026. HH and Adnoc Drilling will also work with Adnoc\u2019s AI venture with G42, AIQ, to integrate AI and performance data into the rigs\u2019 operations.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Adnoc has been ramping up drilling operations recently<\/strong>: The oil giant raised its crude oil production capacity to 4.85 mn bbl \/ d from 4.65 mn bbl \/ d <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/9723908b-fa80-4e47-8373-98b38fea0829\/adia-will-buy-1-mn-shares-in-saudi-fakeeh-care%25e2%2580%2599s-ipo-%2B-dubai-saw-5k-new-residential-units-added-in-1q-2024\" style=\"\" rel=\"noopener\">earlier<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/9723908b-fa80-4e47-8373-98b38fea0829\/adia-will-buy-1-mn-shares-in-saudi-fakeeh-care%25e2%2580%2599s-ipo-%2B-dubai-saw-5k-new-residential-units-added-in-1q-2024\" style=\"\" rel=\"noopener\">in May<\/a>. It also recently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/82dbe67f-ea01-4893-8f5d-9618a840108e\/ras-al-sadr-is-back-online\" style=\"\" rel=\"noopener\">resumed<\/a> operations at its Ras Al Sadr field in Abu Dhabi, and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/8b537867-3b34-4807-ae3b-b248cdbf8b39\/%253cmark%253eadnoc%253c%2Fmark%253e-drilling-sets-up-jv-after-bagging-usd-1.7-bn-contract-%2B-reports-1q-2024-earnings\" style=\"\" rel=\"noopener\">set up a JV<\/a> to unlock \u201cunconventional\u201d energy resources in the emirate. It invested more than USD 2.2 bn into its drilling fleet since 2021. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adnoc\/\">Adnoc<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adnoc-drilling\/\">Adnoc Drilling<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/artificial-intelligence\/\">artificial intelligence<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/energy\/\">energy<\/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=\"93523\" 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=\"93523\">\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\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/07\/04\/remittance-outflows-from-the-uae-fell-3-y-o-y-in-2023-world-bank\/\">\r\n                            Remittance outflows from the UAE fell 3% y-o-y in 2023 -World Bank                        <\/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\/07\/04\/remittance-outflows-from-the-uae-fell-3-y-o-y-in-2023-world-bank\/\" 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\/07\/04\/remittance-outflows-from-the-uae-fell-3-y-o-y-in-2023-world-bank\/')\">\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\/07\/04\/remittance-outflows-from-the-uae-fell-3-y-o-y-in-2023-world-bank\/\">\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=Remittance outflows from the UAE fell 3% y-o-y in 2023 -World Bank&url=https:\/\/enterpriseam.com\/uae\/2024\/07\/04\/remittance-outflows-from-the-uae-fell-3-y-o-y-in-2023-world-bank\/\">\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\/07\/04\/remittance-outflows-from-the-uae-fell-3-y-o-y-in-2023-world-bank\/&title=Remittance outflows from the UAE fell 3% y-o-y in 2023 -World Bank\">\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=Remittance+outflows+from+the+UAE+fell+3%25+y-o-y+in+2023+-World+Bank+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F07%2F04%2Fremittance-outflows-from-the-uae-fell-3-y-o-y-in-2023-world-bank%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\/07\/04\/remittance-outflows-from-the-uae-fell-3-y-o-y-in-2023-world-bank\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/260.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93524\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/07\/04\/remittance-outflows-from-the-uae-fell-3-y-o-y-in-2023-world-bank\/260-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/260.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"260.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/260.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/260.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93523\" class=\"content-area-description single-story post-93523 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam-uae tag-remittances tag-world-bank wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.fb36173c-a32c-46b8-bb29-94c2de0cb28a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Outward remittances from the UAE were among the highest in the world in 2023<\/strong>, despite slowing 3% y-o-y to USD 38.5 bn, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/172.pdf\" style=\"\" rel=\"noopener\">data (pdf)<\/a> from the World Bank and Knomad. The slowdown was attributed to a \u201ccorrection from the pandemic-related distortion,\u201d the World Bank and Knomad said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/141.pdf\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/141.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a>. Outflows were second only to the United States, which saw some USD 85 bn in outflows, according to the data. Saudi Arabia came in third at USD 38.39 bn, according to the data. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Yes, but: <\/strong><span style=\"background-color: transparent;\">While the UAE ranks among the top sources of remittances globally, it plays an intermediary role in a lot of cases. \u201cThe country increasingly serves as an important international financial center through which funds flow. A significant percentage of the funds may not necessarily originate from migrants working in the UAE,\u201d World Bank Lead Economist Dilip Ratha told EnterpriseAM UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remittance outflows from the GCC fell 13% y-o-y in 2023<\/strong>, marking a reversal from earlier upward trends, the report reads. The decline was mainly attributed to post-covid adjustments and Saudi Arabia's new policies allowing migrant workers to bring their families to the Kingdom. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The cost of sending remittances from the UAE rose<\/strong>, with Bangladesh seeing the highest surge (172%) in 4Q 2023, while sending USD 200 from the UAE to the Philippines was also 7% more expensive on a y-o-y basis. This was in line with a wider trend that saw remittance costs for USD 200 jump during the year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the flip side, sending money within the region is less costly: <\/strong>The cost of sending USD 200 from the UAE to Egypt fell in 2Q 2023 compared to 2Q 2022, according to the report. Sending money within the region, including GCC countries, remains affordable \u2014 below 3% in some corridors. <\/p>\n<p class=\"tag-border-left\">ELSEWHERE IN THE REGION- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remittance inflows in the MENA region fell 15% y-o-y in 2023 to USD 55 bn<\/strong>. The drop in regional remittances was mainly attributed to the decline of flows to Egypt, which saw some of its FX inflows diverted towards unofficial channels. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But the trend is expected to reverse to an increase of 4.3% y-o-y in 2024 and 5.5% in 2025<\/strong>, according to the World Bank. Oil exporters in the region, such as Iraq and Algeria, are poised to benefit from rising hydrocarbon prices, contrasting with challenges faced by oil-importing nations like Egypt, Jordan, Lebanon, Morocco, and Tunisia in their remittance outlook, according to the report. Egypt\u2019s recent economic reforms and UAE investments boost confidence in formal remittance channels. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/economy\/\">Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/remittances\/\">remittances<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/world-bank\/\">World Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93525\" 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=\"93525\">\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\/07\/04\/baker-mckenzie-names-uae-managing-partner-fidelity-united-ins-and-national-bank-of-fujairah-appoint-new-ceos\/\">\r\n                            Baker McKenzie names UAE Managing Partner                        <\/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\/07\/04\/baker-mckenzie-names-uae-managing-partner-fidelity-united-ins-and-national-bank-of-fujairah-appoint-new-ceos\/\" 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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Al Rasheed most recently served as a partner at the firm advising on mergers and acquisitions, IPOs, and private placements, and boasts over 20 years of experience, according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/www.bakermckenzie.com\/en\/people\/a\/al-rasheed-mohammad-m\" style=\"\" rel=\"noopener\">website<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fidelity United Ins.<\/strong> named <strong>Ahmed Nasef<\/strong> (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/ahmed-nasef\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as its new <strong>CEO<\/strong>, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/314.pdf\" style=\"\" rel=\"noopener\">ADX<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/314.pdf\" style=\"\" rel=\"noopener\">filing (pdf)<\/a>. Nasef has over two decades of experience in ins., having previously worked at Chubb, AXA, RSA and Liva Group. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Adnan Anwar<\/strong> (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/adnan-anwar-1a96b251\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">Linkedin<\/a>), currently the deputy CEO of the <strong>National Bank of Fujairah<\/strong>, will assume the role of <strong>CEO<\/strong> on 1 October, succeeding Vince Cook (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/vince-cook-b3730a309\/?original_referer=https%3A%2F%2Fwww%2Egoogle%2Ecom%2F&originalSubdomain=ae\" style=\"\" rel=\"noopener\">Linkedin<\/a>), who will resign effective September, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/330.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. Anwar has been with the bank for 19 years, previously serving as CFO and taking on the role of deputy CEO in 2020. <\/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\/baker-mckenzie\/\">Baker McKenzie<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/fidelity-united\/\">Fidelity United<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/national-bank-of-fujairah\/\">National Bank of Fujairah<\/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=\"93527\" 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=\"93527\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/07\/04\/burjeel-lands-in-new-york\/\">\r\n                            Burjeel launches a new research center in New York                        <\/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\/07\/04\/burjeel-lands-in-new-york\/\" 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\/07\/04\/burjeel-lands-in-new-york\/')\">\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\/07\/04\/burjeel-lands-in-new-york\/\">\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=Burjeel lands in New York&url=https:\/\/enterpriseam.com\/uae\/2024\/07\/04\/burjeel-lands-in-new-york\/\">\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\/07\/04\/burjeel-lands-in-new-york\/&title=Burjeel lands in New York\">\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=Burjeel+lands+in+New+York+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F07%2F04%2Fburjeel-lands-in-new-york%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\/07\/04\/burjeel-lands-in-new-york\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/268.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93528\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/07\/04\/burjeel-lands-in-new-york\/268-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/268.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"268.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/268.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/268.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93527\" class=\"content-area-description single-story post-93527 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-abu-dhabi-university tag-also-on-our-radar tag-burjeel-holdings tag-business tag-debt tag-education tag-enterpriseam-uae tag-healthcare tag-logistics tag-sustainability 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\/7\/.54b3b397-a3b5-4f26-a3bb-87b69060d219.mp3\"><\/audio><\/figure><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>Burjeel establishes a US research center:<\/strong> Healthcare provider Burjeel Holdings inaugurated a medical research center, the Burjeel Institute for Global Health, in New York yesterday, according to a <a target=\"_blank\" href=\"https:\/\/burjeelholdings.com\/news\/burjeel-institute-for-global-health-launches-in-us-brings-together-global-experts-to-advance-cancer-care\/\" style=\"\" rel=\"noopener\">statement<\/a>. The center seeks to foster international collaboration in healthcare research and drug development, with a special focus on cancer treatment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">ALSO FROM BURJEEL-<\/strong><span style=\"background-color: transparent;\"> The healthcare provider inked an MoU with Abu Dhabi University (ADU) to collaborate on clinical research projects, launch new innovative labs, and offer conferences, workshops, and academic training programs for students, <\/span><a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b3z4xpy-adu-partners-with-burjeel-holdings-advance\" rel=\"noopener\">Wam<\/a><span style=\"background-color: transparent;\"> reports. The agreement also seeks to facilitate access to international and local grants for ADU students and faculty members.<\/span><\/p>\n<p class=\"tag-border-left\">DEBT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fitch affirms Emaar\u2019s BBB rating: <\/strong>Fitch Ratings affirmed Emaar Properties\u2019 long-term issuer default rating at BBB with a stable outlook, according to a <a target=\"_blank\" href=\"https:\/\/www.fitchratings.com\/research\/corporate-finance\/fitch-affirms-emaar-properties-pjsc-idr-at-bbb-outlook-stable-01-07-2024\" style=\"\" rel=\"noopener\">statement<\/a>. Emaar\u2019s solid order book, growing revenue, and strong business profile underpinned the decision.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cThe solid orderbook of Emaar Development division (ED), which provides good revenue visibility over the next four to five years, together with the strong performance of the Emaar malls and a growing international development division, are key rating strengths,\u201d the credit rating agency said.<\/p>\n<p class=\"tag-border-left\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/investbank.ae\/index.html\" style=\"\" rel=\"noopener\">Invest Bank<\/a><\/strong><strong> establishes a new real estate asset management company:<\/strong> Sharjah-based Invest Bank launched a property asset management division after securing approval from the Central Bank of the UAE, an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/340.pdf\" style=\"\" rel=\"noopener\">ADX filing (pdf)<\/a> reads. The new unit will focus on property leasing, management, valuation, and private asset 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>Adobe teams up with ALC to better its understanding of Arabic language typography:<\/strong> Renowned software developer Adobe signed an MoU with the Abu Dhabi Arabic Language Centre (ALC) to facilitate the integration of the Arabic language in its future products, according to an ALC <a target=\"_blank\" href=\"https:\/\/alc.ae\/media\/news\/abu-dhabi-arabic-language-centre-signs-mou-with-adobe-to-better-understand-the-complex-and-future-needs-for-arabic-language-typography\/\" style=\"\" rel=\"noopener\">statement<\/a>. The US company will work with the center to conduct research to improve its understanding of the language\u2019s complex typography, primarily pertaining to Adobe\u2019s design-related products.<\/p>\n<p class=\"tag-border-left\">LOGISTICS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Aramex to offer special logistics services for businesses in the Dubai Chamber <\/strong><strong>of Commerce:<\/strong> Dubai-based logistics firm <a target=\"_blank\" href=\"https:\/\/www.aramex.com\/\" style=\"\" rel=\"noopener\">Aramex<\/a> inked an MoU with <a target=\"_blank\" href=\"https:\/\/www.dubaichambers.com\/en\/home\/\" style=\"\" rel=\"noopener\">Dubai Chambers<\/a> to offer comprehensive logistics services for businesses registered with the Dubai Chamber of Commerce, according to a <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2024\/july\/03-07\/dubai-chambers-partners-with-aramex\" style=\"\" rel=\"noopener\">statement<\/a> from the Dubai Media Office. No further details were provided on the type of services covered in the packages.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Emirates Post is getting more branches: <\/strong><a target=\"_blank\" href=\"https:\/\/www.emiratespost.ae\/\" style=\"\" rel=\"noopener\">Emirates Post<\/a>, the postal arm of <a target=\"_blank\" href=\"https:\/\/www.7x.ae\/\" style=\"\" rel=\"noopener\">7X<\/a> and the UAE's official postal services provider, plans to expand its network of 87 outlets by opening new branches, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3z4xss-unveils-expansion-plans-strengthen-global-network\" style=\"\" rel=\"noopener\">Wam<\/a> reports. Meanwhile, <a target=\"_blank\" href=\"https:\/\/www.emx.ae\/\" style=\"\" rel=\"noopener\">EMX<\/a>, 7X\u2019s courier and parcel arm, plans to expand its reach by adding new destinations. EMX operates a fleet of more than 600 couriers and ten delivery centers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>7X was formerly known as Emirates Post Group before its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/7ec98f84-0753-4303-a7d0-9fa2630d035a\" style=\"\" rel=\"noopener\">rebranding<\/a> earlier this year.<\/p>\n<p class=\"tag-border-left\">MARITIME-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>West Nautical sets up shop in Dubai: <\/strong>UK-based yacht brokerage firm <a target=\"_blank\" href=\"https:\/\/westnautical.com\/\" style=\"\" rel=\"noopener\">West Nautical<\/a> opened an office in Dubai at the Business Bay commercial district, according to <a target=\"_blank\" href=\"https:\/\/www.boatinternational.com\/boat-pro\/news\/west-nautical-new-office-dubai\" style=\"\" rel=\"noopener\">Boat International<\/a>. The office location streamlines access to Dubai\u2019s marinas, yacht clubs, and waterfront developments, the yachting news outlet wrote.<\/p>\n<p class=\"tag-border-left\">SUSTAINABILITY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tadweer launches four subsidiaries:<\/strong> Abu Dhabi-based waste management firm Tadweer Group has launched four new subsidiaries, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3z4ya4-tadweer-group-launches-four-new-subsidiaries\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The breakdown:<\/p>\n<ul>\n<li><strong>Tadweer Environmental Services and Solutions <\/strong>will manage waste collection activities and oversee the launch of tenders;<\/li>\n<li><strong>Tajmee\u2019e will provide waste pre-collection services<\/strong>;<\/li>\n<li><strong>UpCycle will implement advanced technological solutions in waste treatment and recycling facilities<\/strong>;<\/li>\n<li><strong>Tahweel will provide<\/strong> <strong>waste-to-energy solutions.<\/strong><\/li>\n<\/ul>\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 + Ohio state join forces to develop mass transport:<\/strong> Dubai\u2019s Roads and Transport Authority signed an MoU with the US Southwest Ohio Regional Transit Authority to cooperate on developing their public transport and roads, as well as autonomous transport, through knowledge exchange, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3z4y9y-rta-southwest-ohio-regional-transit-authority\" style=\"\" rel=\"noopener\">Wam<\/a> reports.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi-university\/\">Abu Dhabi University<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/burjeel-holdings\/\">Burjeel Holdings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/business\/\">business<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt\/\">debt<\/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\/healthcare\/\">Healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/sustainability\/\">sustainability<\/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=\"93529\" 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=\"93529\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/07\/04\/bnaire-jeff-bezos-offloads-usd-5-bn-worth-of-amazon-shares\/\">\r\n                            B\u2019naire Jeff Bezos offloads USD 5 bn worth of Amazon shares                        <\/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\/07\/04\/bnaire-jeff-bezos-offloads-usd-5-bn-worth-of-amazon-shares\/\" 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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Bezos \u2014 Amazon\u2019s biggest shareholder holding a 9% stake \u2014 has already sold around USD 8.5 bn in shares earlier this year, bringing the total of his share sales to USD 13.5 bn. This move comes shortly after Amazon's market value exceeded USD 2 tn last month, placing it as the fifth most valuable company, behind fellow tech giants Microsoft, Google's parent company, Alphabet, Apple, and chipmaker Nvidia.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Even with the USD 5 bn share sale, Bezos would still rank as the company\u2019s largest<\/strong><strong style=\"background-color: transparent;\"> shareholder<\/strong><span style=\"background-color: transparent;\">, with the former CEO still holding around 912 mn shares following the share sale \u2014 equivalent to 8.8% of Amazon, according to calculations by <\/span><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-03\/bezos-to-sell-5-billion-of-amazon-as-shares-hit-record-high\" rel=\"noopener\">Bloomberg<\/a><span style=\"background-color: transparent;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bezos intends to sell a total of 50 mn shares in 2024<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-03\/bezos-to-sell-5-billion-of-amazon-as-shares-hit-record-high\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing its b\u2019naires Index. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why are Amazon\u2019s shares spiking?<\/strong> Amazon shares have surged by a third this year, driven by investor excitement around AI's potential to boost the retail giant\u2019s cloud division, the salmon-colored paper writes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reax:<\/strong> The retail giant's shares closed down 1.2% yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bezos is not the only b\u2019naire riding the upward trend in tech stocks: <\/strong>Nvidia CEO Jensen Huang cashed in on 1.3 mn shares of the chipmaker for USD 169 mn this month alone, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-03\/huang-cashes-in-on-nvidia-s-rally-with-169-million-share-sale?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. His executives and directors also offloaded USD 700 mn worth of shares in the first six months of 2024. Nvidia's shares are up 150% since January.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO FROM PLANET FINANCE-<\/strong><\/p>\n<ul>\n<li><strong>Some EU nations are getting cold feet about Chinese EV tariffs: <\/strong>Proposed additional EU tariffs on Chinese-made EVs due to be voted on today have been seeing resistance from some members of the bloc. Nations like Germany have opposed the move over fears that retaliatory moves could affect sales in one of the German auto industry\u2019s largest export markets, while other regional auto industry heavyweights, including Italy, Spain, and France, seem to still be firmly backing the move. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/eu-governments-waver-over-chinese-ev-tariffs-trade-spat-escalates-2024-07-03\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/li>\n<\/ul>\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 up in early trading, with Japan\u2019s Topix hitting an all-time high<\/strong> as investors celebrate positive data on wages in the country. Hong Kong\u2019s Hang Seng is also up 0.8% despite purchasing managers\u2019 index data pointing to slower growth in business activity, while mainland China\u2019s CSI 300 remained flat. Wall Street markets are closed today for the 4 July holiday, after the S&amp;P 500 and Nasdaq notched record highs at close yesterday. <\/p>\n<p><a target=\"_blank\" id=\"t.351e423f75010e8486a726dedd56e9340e30b9bb\" 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\">9,094<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: -5.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,079<\/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: +0.5%)<\/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>Nasdaq Dubai UAE20<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3,501<\/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% (YTD: -8.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : AED<\/strong><strong> CBUAE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 3.67<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 3.67<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EIBOR<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5% o\/n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.4% 1 yr<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,595<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">- 0.1% (YTD: -3.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">28,161<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6% (YTD: +13.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,537<\/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\">+0.51% (YTD: 16.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,171<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6% (YTD: +12.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,966<\/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% (YTD: +9.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 87.34<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.42<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,365.60<\/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\">+1.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 59,600.80<\/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\">-3.8% (YTD: +41.4%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The DFM rose 0.4% yesterday<\/strong> on turnover of AED 426.7 mn. The index is down 8.8% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Al Salam Sudan (+15%), Al Firdous Holdings (+10.4%) and BHM Capital Financial Services (+9.8%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Dubai Islamic Insurance and Reinsurance Co.(-2.3%), GFH Financial Group (-1.8%), and Ithmaar Holding (-1.7%). <\/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 rose 0.1% on turnover of AED 1.3 bn. Meanwhile Nasdaq Dubai closed down 0.02%.<\/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\/amazon\/\">Amazon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/jeff-bezos\/\">Jeff Bezos<\/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=\"93531\" 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\/07\/04\/93531-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93531\" class=\"content-area-description single-story post-93531 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>10-11 September (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/pppmenaforum.com\/\" style=\"\">MENA PPP forum<\/a><\/span><span style=\"font-weight:400;\">, Jumeirah Emirates Towers, Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>10-11 September (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/menacoolforum.com\/\" style=\"\">MENA District Cooling Projects & MENA Cool Forum<\/a><\/span><span style=\"font-weight:400;\">, Grand Hyatt Dubai, Dubai Healthcare City, Dubai. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>11-12 September (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/menaoilandgasdigitalization.com\/\" style=\"\">MENA oil and gas digitization conference<\/a><\/span><span style=\"font-weight:400;\">, 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>7-8 October (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/theforexexpo.com\/dubai2024\/#About\" style=\"\">Forex expo<\/a><\/span><span style=\"font-weight:400;\">, World Trade Center, 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;\">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>21-22 October (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/portdevelopmentmea.com\/\" style=\"\">Port Development MEA Forum<\/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>21-22 October (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/rbtmena.com\/\" style=\"\">Roads, Bridges, Tunnels MENA Conference<\/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 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>28-29 October (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/menaclimateproof.com\/\" style=\"\">MENA Climate Proof Forum<\/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 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:400;\">30 October-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:700\">NOVEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-7 November (Wednesday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.adipec.com\/?utm_source=social-internal&utm_medium=twitter&utm_term=&utm_content=vis%202406&utm_campaign=mari%202406\" style=\"\">ADIPEC<\/a><\/span><span style=\"font-weight:400;\">, 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;\">4-7 November (Wednesday-Saturday): 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;\">4-7 November (Wednesday-Saturday): 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>6 November (Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/events.futureforums.com\/world-finance-forum-dubai\" style=\"\">World Finance Forum<\/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>11 November (Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/diamondconference.ae\/\" style=\"\">Dubai Diamond Conference<\/a><\/span><span style=\"font-weight:400;\">, Jafza One Convention Centre, Dubai. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>11-12 November (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/menacinema.com\/\" style=\"\">META Cinema Forum<\/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>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>20-22 November (Wednesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.adnec.ae\/en\/eventlisting\/xpanse-2024\" style=\"\">Xpanse Abu Dhabi<\/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>22-23 November (Friday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/unitedresearchforum.com\/GMEEE2024\/\" style=\"\">Global Meet on Electronics & Electrical Engineering (GMEEE)<\/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\">Signposted to happen ahead of ADIPEC: <\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Changemakers Majlis, Abu Dhabi. <\/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;\">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;\">FEBRUARY 2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>24-25 February (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.gmevents.ae\/event\/3rd-world-passenger-experience-forum\/\" style=\"\">3rd World Passenger Experience Forum<\/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 style=\"font-weight:700;\">OCTOBER 2025 <\/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;\">27-29 October (Monday-Wednesday): Asia Pacific Cities Summit, Dubai Exhibition Centre.<\/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<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 2029:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Dubai to host the International Conference on Computer Vision.<\/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>PMI down in June. CoinDCX acquires BitOasis. Adnoc eyes Santos + gets private 5G network. Remittance outflows lower in 2023. Burjeel in NY.<\/p>\n","protected":false},"featured_media":93510,"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-93509","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"78944443-ff49-4e8c-8b8c-d7e0eb31e5f6","teaser":"PMI down in June. CoinDCX acquires BitOasis. Adnoc eyes Santos + gets private 5G network. Remittance outflows lower in 2023. Burjeel in NY.","photo_url":"https:\/\/ent.news\/2024\/4\/1933.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Non-oil business activity continues slowing growth trend in June - UAE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/uae\/issues\/non-oil-business-activity-continues-slowing-growth-trend-in-june\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Non-oil business activity continues slowing growth trend in June\" \/>\n<meta property=\"og:description\" content=\"PMI down in June. CoinDCX acquires BitOasis. Adnoc eyes Santos + gets private 5G network. Remittance outflows lower in 2023. 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