{"id":93781,"date":"2024-07-12T00:00:00","date_gmt":"2024-07-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=93781"},"modified":"2025-12-15T00:51:12","modified_gmt":"2025-12-15T00:51:12","slug":"uae-based-fertiglobe-bags-first-ever-green-ammonia-tender","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/uae-based-fertiglobe-bags-first-ever-green-ammonia-tender\/","title":{"rendered":"UAE-based Fertiglobe bags first ever green ammonia tender"},"content":{"rendered":"<section id=\"93783\" 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=\"93783\">\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\/12\/this-morning-us-lawmakers-call-for-probe-into-microsofts-partnership-with-g42-fab-denies-plans-to-acquire-a-stake-in-yes-bank\/\">\r\n                            THIS MORNING: US lawmakers call for probe into Microsoft\u2019s partnership with G42 + FAB denies plans to acquire a stake in Yes 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 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class=\"content-area-description single-story post-93783 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-abu-dhabi-global-market tag-ai tag-amea-power tag-energy tag-enterpriseam-uae tag-fab tag-g42 tag-ma-watch tag-tech tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.5d7b8395-0c33-4865-be40-3d61b5e79550.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Good morning, friends. <\/strong><span style=\"background-color: transparent;\">We wrap the week with a packed issue, filled with a raft of updates on the debt and M&amp;A front, and a big story in the world of renewables.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The big story? <\/strong>UAE-based urea and ammonia exporter Fertiglobe secured the first ever green ammonia tender to supply green ammonia to Germany from its plant in Egypt. <\/p>\n<p class=\"tag-border-left\"> FACT CHECK- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt2\"><\/a> <strong>First Abu Dhabi Bank \u201ccategorically\u201d denied reports that it is pursuing the <\/strong><strong>acquisition of a stake in India\u2019s Yes Bank<\/strong> in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/905.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a> yesterday. Bloomberg had <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/aceec568-042c-451a-a846-586cc4a9ff76\/%253cmark%253efab%253c%2Fmark%253e-eyeing-usd-5-bn-stake-in-india%25e2%2580%2599s-yes-bank-%2B-dubai-to-build-world%25e2%2580%2599s-largest-food-logistics-zone\" style=\"\" rel=\"noopener\">reported<\/a> a day earlier that the lender is eyeing a USD 5 bn, 51% stake in the bank. Emirates NBD has also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/e76dd13f-0ff0-4b59-bffe-28f9b6255a94\/up-next:-drainage-infrastructure%3F\" style=\"\" rel=\"noopener\">reportedly<\/a> been vying for a stake in the Indian bank. <\/p>\n<p class=\"tag-border-left\">UPDATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sharjah Islamic Bank (SIB)\u2019s USD 500 mn sukuk issuance is now listed on Nasdaq Dubai,<\/strong> bringing the lender\u2019s total sukuk listings on the bourse to USD 1.5 bn, according to the <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2024\/july\/11-07\/nasdaq-dubai-sharjah-islamic-bank\" style=\"\" rel=\"noopener\">Dubai Media Office<\/a>. The sukuk is the sixth issuance under SIB\u2019s USD 3 bn Trust Certificate Issuance Program, launched in 2013.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>SIB took a five-year USD 500 mn sukuk issuance to market <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/bb199a61-288e-4443-9390-051b1a4a598e\/sharjah-islamic-bank-sells-usd-500-mn-sukuk\" style=\"\" rel=\"noopener\">last month<\/a>, pricing it at a spread of 105 bps over US Treasuries on the back of robust investor demand. The issuance was 3x oversubscribed \u2014 drawing some USD 1.5 bn in orders from international investors \u2014 and features a 5.25% annual yield rate, with maturity set for 3 July 2029.<\/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- US lawmakers are calling for a probe into Microsoft-G42 partnership: <\/strong>Republican lawmakers are calling on the Biden administration to prepare a formal intelligence assessment of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ab8a12c3-4caf-4243-940c-f007b4d33c7a\/%253cmark%253emicrosoft%253c%2Fmark%253e-writes-usd-1.5-bn-ticket-for-g42\" style=\"\" rel=\"noopener\">Microsoft\u2019s USD 1.5 bn<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ab8a12c3-4caf-4243-940c-f007b4d33c7a\/%253cmark%253emicrosoft%253c%2Fmark%253e-writes-usd-1.5-bn-ticket-for-g42\" style=\"\" rel=\"noopener\">investment<\/a> in state-owned AI firm G42 in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/919.pdf\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/919.pdf\" style=\"\" rel=\"noopener\">letter (pdf)<\/a> addressed to the US National Security Advisor Jake Sullivan, citing concerns over the IHC-backed AI outfit\u2019s ties to China. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The letter referred to the investment as one of the most \u201cconsequential US investments in the Middle East in decades,\u201d <\/strong>and urged the administration to implement national safety safeguards, highlighting risks posed by transferring \u201chighly sensitive, US-origin technology\u201d and \u201c[the US\u2019] most critical AI technology,\u201d without a proper regulatory framework. The congressmen asked for the assessment to be conducted before the partnership enters its second phase, which will involve the export of US technologies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER-<\/strong> In <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/edition\/am\/45bff422-6aef-41f5-bd13-0fce03beb4d9\/Real-estate-market-growth-will-be-driven-by-expats-%2B-HNWI,-Markaz-suggests#:~:text=%232%2D%20Did,FT%20last%20December.\" style=\"\" rel=\"noopener\">February<\/a>, G42 was reported to have already sold all its stakes in all its investments in China \u2014 including a USD 100 mn stake in ByteDance \u2014 in a bid to reportedly appease US partners, culminating in Microsoft investing some USD 1.5 mn in G42. The second phase of the agreement entails Microsoft exporting large-scale AI components to the UAE, which will require licenses from the US government. Concerns that the US might pull the plug on the partnership have been swirling for weeks now, with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/12ad6b65-e8a8-4bc6-8efb-1a3e22eea9f4\/g42%25e2%2580%2599s-partnership-with%253cmark%253e-microsoft%253c%2Fmark%253e-at-risk%3F#:~:text=%231%2D%20Is%20G42,trips%20as%20saying.\" style=\"\" rel=\"noopener\">Bloomberg<\/a> recently saying that Pentagon officials are doubting G42\u2019s commitment to fully divest from China.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The story was picked up by <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-11\/gop-lawmakers-call-for-intelligence-probe-of-microsoft-g42-deal\" style=\"\" rel=\"noopener\">Bloomberg<\/a><\/strong>, <strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/artificial-intelligence\/republican-lawmakers-deeply-concerned-over-microsoft-g42-ai-deal-letter-says-2024-07-11\/\" style=\"\" rel=\"noopener\">Reuters<\/a><\/strong><strong>, and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/a5aa212b-39b4-480a-92e1-eabd91a6a290\" style=\"\" rel=\"noopener\">Financial Times<\/a><\/strong><strong>.<\/strong><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Fujairah Port is set to receive its first gasoline shipment from Total Energies in <\/strong><strong>the coming days,<\/strong> state news agency <a target=\"_blank\" href=\"https:\/\/wam.ae\/ml\/article\/b43arhk-%D8%AA%D9%88%D8%AA%D8%A7%D9%84-%D9%84%D9%84%D8%B7%D8%A7%D9%82%D8%A9-%D8%AA%D9%86%D9%82%D9%84-%D9%86%D8%B4%D8%A7%D8%B7%D9%87%D8%A7-%D8%A7%D9%84%D8%A8%D8%AA%D8%B1%D9%88%D9%84%D9%8A-%D9%84%D9%84%D9%81%D8%AC%D9%8A%D8%B1%D8%A9\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The move comes after the French oil and gas multinational company moved its operations and petroleum activities to the emirate.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a><strong> #3- The Abu Dhabi Global Market is reviewing its license fees in a bid to attract more <\/strong><strong>firms<\/strong> and help make the transition for companies in Al Reem Island to the financial center easier, CEO of ADGM\u2019s Registration Authority Hamad Al Mazrouei told Al Arabiya (<a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/videos\/aswaq-open\/2024\/07\/10\/%D8%B3%D9%88%D9%82-%D8%A3%D8%A8%D9%88%D8%B8%D8%A8%D9%8A-%D9%84%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D9%89-%D8%AE%D8%B7%D8%A9-%D9%85%D8%AA%D9%83%D8%A7%D9%85%D9%84%D8%A9-%D9%84%D8%AF%D8%B9%D9%85-%D9%86%D9%82%D9%84-%D8%AA%D8%B1%D8%A7%D8%AE%D9%8A%D8%B5-%D8%A7%D9%84%D8%B4%D8%B1%D9%83%D8%A7%D8%AA-%D9%85%D9%86-%D8%AC%D8%B2%D9%8A%D8%B1%D8%A9-%D8%A7%D9%84%D8%B1%D9%8A%D9%85\" style=\"\" rel=\"noopener\">watch, runtime: 3:15<\/a>). The new fees will come as part of a wider incentive package that the ADGM will make public \u201csoon,\u201d Al Mazrouei said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The ADGM already waived registration fees for Reem Island businesses until November of this year as part of an incentive package aiming to facilitate their transition to the hub after Al Reem Island became part of its jurisdiction in November 2023 as part of its expansion. It also inked an MoU with the Human Resources and Emiratization Ministry to streamline work permit and license transfers. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Amea Power to expand its investments in Egypt: <\/strong>Amea Power Chairman Hussein Al Nowais met with Egyptian Electricity and Renewable Energy Minister Mahmoud Esmat yesterday to discuss expanding the renewable energy company\u2019s investments in Egypt, <a target=\"_blank\" href=\"https:\/\/wam.ae\/ar\/article\/140e0ln-%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A1-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A-%D9%8A%D8%A8%D8%AD%D8%AB-%D8%B1%D8%A6%D9%8A%D8%B3-%D8%A3%D9%8A%D9%85%D9%8A%D8%A7-%D8%A8%D8%A7%D9%88%D8%B1\" style=\"\" rel=\"noopener\">Wam<\/a> reports. They addressed establishing new solar and wind energy projects with a potential total capacity of 2.5 GW, in a bid to up the share of renewable energy in Egypt\u2019s electricity mix to more than 42% by 2030 and reduce dependency on fossil fuels.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Amea Power <\/strong><strong>\u2764\ufe0f<\/strong><strong>Egypt: <\/strong>Amea Power is currently working on 1 GW worth of projects in Egypt, including the 500 MW <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bb1356d6-f56b-48d1-895e-9e21e3e3a668\/\" style=\"\" rel=\"noopener\">Abydos<\/a> solar power plant \u2014 slated for completion in Aswan in September 2024 \u2014- and a 500 MW Amotope wind power plant \u2014 scheduled to go live in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/15bd3953-bf58-4b21-a54e-3ae78f6839be\/\" style=\"\" rel=\"noopener\">Ras Ghareb<\/a> by Summer 2025. Amea is also working on a 2.5 GW green hydrogen project in Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>2.5 GW? <\/strong>We only know of one green hydrogen project Amea Power <a target=\"_blank\" href=\"https:\/\/www.ameapower.com\/press-release-amea-power-signs-agreement-with-the-government-of-egypt-to-deploy-1000mw-green-hydrogen-project\/\" style=\"\" rel=\"noopener\">had agreed<\/a> to develop in Egypt during Cop27, with a capacity of 1 GW. <\/p>\n<p class=\"tag-border-left\"> DATA POINTS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The Central Bank\u2019s monthly foreign assets increased in April to AED 750.29 bn,<\/strong> up from AED 731.62 bn in March, according to its April <a target=\"_blank\" href=\"https:\/\/www.centralbank.ae\/media\/kb4j4osd\/uae-foreign-assets-e-apr-2024.pdf\" style=\"\" rel=\"noopener\">balance sheet (pdf)<\/a>. Gross bank assets inched up 1% to AED 4.3 tn, compared to AED 4.25 tn in March, the summary report <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/907.pdf\" style=\"\" rel=\"noopener\">stated (pdf)<\/a>. Gross credit also inched up 0.8% at the end of April to AED 2.06 tn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The Middle East is the new emerging market \u201cfavorite\u201d for institutional investors<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/www.preqin.com\/insights\/research\/factsheets\/three-years-of-middle-east-feedback-benchmarking-alternatives-2022-2024\" style=\"\" rel=\"noopener\">data<\/a> gathered between 2022 and 2024 by investment data company Preqin, which showed interest from institutional investors in the region jumping to 65.5% in 2024 from 38.9% in 2022. The Middle East is outshining China and Southeast Asia as investors pivot towards regional diversification, according to Preqin\u2019s findings. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Real estate and private equity are the alternative investments of choice: <\/strong>Nearly half of the surveyed investors this year allocated 20% or more of their assets under management to real estate \u2014 double the allocation in 2022. Investors are reducing their exposure to hedge funds and venture capital, which have both underperformed in the past few years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Arabia is garnering a whopping 96.5% of interest from investors, with the UAE next in line at 41.4%,<\/strong> according to the survey.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Dubai reduced the consumption of electricity 15.9% and water 12.4% in 2023,<\/strong> in comparison to a business-as-usual scenario where sustainable interventions are not implemented, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/ur\/article\/b43arhd-%D8%A7%D9%84%D8%A3%D8%B9%D9%84%D9%89-%D9%84%D9%84%D8%B7%D8%A7%D9%82%D8%A9-%D8%AF%D8%A8%D9%8A-%D9%8A%D9%82%D9%8A%D9%85-%D8%A3%D8%AF%D8%A7%D8%A1-%D8%A8%D8%B1%D8%A7%D9%85%D8%AC-%D9%88%D9%85%D8%B4%D8%A7%D8%B1%D9%8A%D8%B9-%D8%AF%D8%B9%D9%85\" style=\"\" rel=\"noopener\">Wam<\/a> reports. Dubai\u2019s green programs over the last five years helped achieve around AED 14.6 bn in financial savings. The emirate aims to achieve energy and water savings of at least 30% by 2030, and 50% by 2050.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- The number of m\u2019naires in the UAE is expected to grow by 15% over the next <\/strong><strong>five years, <\/strong>reaching 232.1k in 2028 from 202.2k today, according to investment banking company UBS\u2019 <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/908.pdf\" style=\"\" rel=\"noopener\">2024 Global Wealth Report (pdf)<\/a>. Some 6.7k m\u2019naires are expected to move to the UAE this year, representing the highest net inflow of m\u2019naires worldwide.<\/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>It\u2019s a mixed bag in the foreign press this morning<\/strong>, with most outlets leading with Joe Biden\u2019s latest fumble as he plays host to the Nato summit amid widening concerns over his eligibility in the presidential race. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Biden mixed up Vice President Kamala Harris with Donald Trump, and Ukraine\u2019s Volodymyr Zelenskiy with Vladimir Putin<\/strong>, during the summit, dealing another blow to his candidacy, which is losing more ground among Democrats. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>He brushed his slip-ups aside and defiantly proclaimed he is the most qualified candidate to beat Trump and that he\u2019s \u201cgot to finish the job.\u201d <\/strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/biden-nato-summit-live-2024-07-11\/\" style=\"\" rel=\"noopener\">Reuters<\/a> is liveblogging the news conference. <\/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 AI news are making the rounds: <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Microsoft and Apple\u2019s decision to give up <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/9e1d3c05-34dd-4dbd-8274-671c5fb3556d\/nearly-usd-9-bn-worth-of-locked-up-btc-is-about-to-hit-the-market-%25e2%2580%2594-what-does-it-mean-for-prices%3F\" style=\"\" rel=\"noopener\">seats on OpenAI\u2019s board<\/a><\/strong><strong> was \u201csubterfuge\u201d in a bid to quell regulatory concerns over relationships between AI and large tech firms<\/strong>, co-executive of non-profit AI Now Institute Amba Kak wrote in a message to <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/07\/11\/microsoft-giving-up-openai-board-observer-seat-doesnt-settle-concerns.html\" style=\"\" rel=\"noopener\">CNBC<\/a>. \u201cAI companies have strong financial incentives to avoid effective oversight, and we do not believe bespoke structures of corporate governance are sufficient to change this,\u201d employees of the agency wrote.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- SoftBank has acquired struggling UK semiconductor startup Graphcore<\/strong>, which was valued at about USD 2.8 bn but suffered financial losses upon lackluster demand. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-11\/softbank-buys-struggling-uk-chip-startup-graphcore-in-ai-race?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- It\u2019s looking more likely for the US to pull the trigger on its next rate cut in September<\/strong>, after inflation <a target=\"_blank\" href=\"https:\/\/www.bls.gov\/news.release\/cpi.nr0.htm\" style=\"\" rel=\"noopener\">fell<\/a> more than expected to 3% in June. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The news made way for a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/07\/11\/thursday-was-a-strange-day-in-the-stock-market-that-may-be-good-news.html\" style=\"\" rel=\"noopener\">\u201chistorically strange\u201d<\/a><\/strong><strong> day for stocks<\/strong>, with investors moving out of rallying tech stocks and snapping up other, smaller cap stocks, leaving the S&amp;P 500 and Nasdaq down at market close. <\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/uaeformar.enterprise.news\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/13.jpg?ssl=1\"><\/a><\/p>\n<p class=\"tag-border-left\"> CIRCLE YOUR CALENDAR- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AI office launches USD 150k challenge:<\/strong> The UAE is calling on Series A startups working in artificial intelligence (AI), cybersecurity, banking and financial services, customer services, financial technology, and environmental and social fields, to register for the newly launched <a target=\"_blank\" href=\"https:\/\/www.mastercard.com\/news\/eemea\/en\/newsroom\/press-releases\/en\/2024\/july-1\/uae-s-artificial-intelligence-office-mastercard-and-first-abu-dhabi-bank-launch-joint-ai-challenge\/\" style=\"\" rel=\"noopener\">AI Challenge<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The challenge \u2014 which was created in partnership with the Office of AI, Digital Economy and Remote Work Applications, Mastercard Global Center for Advanced AI and Cyber Technology, and FIrst Abu Dhabi Bank \u2014 will hand out a USD 150k check to the final candidate and a chance to participate in Mastercard\u2019s global events, including a program that offers mentorship. You can register for the challenge before 25 August <a target=\"_blank\" href=\"https:\/\/mstr.cd\/3XIQuWF\" style=\"\" rel=\"noopener\">here<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi-global-market\/\">Abu Dhabi Global Market<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a 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class=\"f-graphik\">ENERGY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/07\/12\/fertiglobe-secures-first-ever-green-ammonia-tender-to-supply-green-ammonia-to-germany\/\">\r\n                            UAE-based Fertiglobe bags first green ammonia tender to supply green ammonia to Germany                        <\/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\/12\/fertiglobe-secures-first-ever-green-ammonia-tender-to-supply-green-ammonia-to-germany\/\" 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href=\"https:\/\/enterpriseam.com\/uae\/2024\/07\/12\/fertiglobe-secures-first-ever-green-ammonia-tender-to-supply-green-ammonia-to-germany\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1203.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93787\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/07\/12\/fertiglobe-secures-first-ever-green-ammonia-tender-to-supply-green-ammonia-to-germany\/1203-jpg-21\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1203.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1203.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1203.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1203.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93786\" class=\"content-area-description single-story post-93786 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-adnoc tag-energy tag-enterpriseam-uae tag-fertiglobe tag-germany tag-h2global tag-oci tag-renewables 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\/.b6db4a0c-85bd-4eb6-a05e-e481be0318e0.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>UAE-based urea and ammonia exporter <\/strong><strong><a target=\"_blank\" href=\"https:\/\/fertiglobe.com\/\" style=\"\" rel=\"noopener\">Fertiglobe<\/a><\/strong><strong> secured a EUR 397 mn<\/strong><strong> offtake agreement from the German <\/strong><strong>government\u2019s H2Global<\/strong> <strong>program <\/strong>to supply green ammonia to the EU from its Egyptian facilities between 2027 and 2033, following an auction, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/917.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The contract, which will secure 10% of Germany\u2019s annual ammonia needs, is the result of the first among a raft of global tenders to important green hydrogen derivatives. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>With a production cost of EUR 1k per ton, the agreement will see Fertiglobe export 19.5k tons of green ammonia in 2027, potentially scaling up output to a cumulative 397k by 2033. Fertiglobe will produce the green ammonia at its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/a79814c8-73f2-4320-9ce5-b4861c37eeeb\/emirati-firms-ink-more-than-usd-30-bn-renewables-agreements-in-egypt#:~:text=PLUS%2D%20Scatec%20advances,ammonia%20purchase%20agreement.\" style=\"\" rel=\"noopener\">Ain Sokhna plant<\/a> in Egypt, which it is developing as part of a consortium comprising Scatec, the Sovereign Fund of Egypt, and Orascom Construction. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fertiglobe inked a 20-year offtake agreement with the consortium to provide the green hydrogen<\/strong>, which will be used as the raw material to produce the green ammonia at the plant, according to a <a target=\"_blank\" href=\"https:\/\/scatec.com\/2024\/07\/11\/scatecs-egypt-green-hydrogen-project-signed-20-year-offtake-agreement-with-fertiglobe-based-on-h2global-award\/\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the plant:<\/strong> The plant kicked off <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/952ee209-52e7-435e-860b-caf16ba6251b\/\" style=\"\" rel=\"noopener\">its first phase<\/a> in November 2022 and aims to produce some 13k tons of green hydrogen a year, which will be used to create 70k tons of green ammonia at Fertiglobe\u2019s ammonia plants. 270 MW of solar and wind power plants will be installed to power the plant.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next?<\/strong> The consortium expects to reach financial investment decision and financial close in 1H 2025. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The story got ink in the foreign press:<\/strong> <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-11\/german-group-agrees-to-buy-hydrogen-from-egypt-as-of-2027\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sustainability\/climate-energy\/germany-awards-tender-fertiglobe-green-ammonia-egypt-2024-07-11\/\" style=\"\" rel=\"noopener\">Reuters<\/a> <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adnoc\/\">Adnoc<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/fertiglobe\/\">Fertiglobe<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/germany\/\">Germany<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/h2global\/\">H2Global<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/oci\/\">OCI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/renewables\/\">renewables<\/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=\"93788\" 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=\"93788\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/07\/12\/uae-non-oil-economy-to-slow-to-5-in-2024-fitch-solutions\/\">\r\n                            UAE non-oil economy to slow to 5% in 2024 -Fitch Solutions                        <\/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\" 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  <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/07\/12\/uae-non-oil-economy-to-slow-to-5-in-2024-fitch-solutions\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1891.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93789\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/07\/12\/uae-non-oil-economy-to-slow-to-5-in-2024-fitch-solutions\/1891-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1891.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1891.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1891.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1891.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93788\" class=\"content-area-description single-story post-93788 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam-uae tag-fitch tag-gdp 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\/.52d8ed8c-5743-408d-ba0c-50f9287757eb.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Growth in the UAE\u2019s non-oil sector is expected to slow to 5% in 2024, <\/strong>from 6.2% in 2023, <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/economics\/48211\/%D9%83%D9%84%D9%81%D8%A9-%D8%A7%D9%84%D8%A7%D9%82%D8%AA%D8%B1%D8%A7%D8%B6-%D8%AA%D9%87%D8%AF%D8%AF-%D8%A7%D9%84%D9%82%D8%B7%D8%A7%D8%B9-%D8%BA%D9%8A%D8%B1-%D8%A7%D9%84%D9%86%D9%81%D8%B7%D9%8A-%D8%A8%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D9%88%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> quotes Fitch Solutions MENA analyst Mariette Kas-Hanna as saying during a webinar. Kas-Hanna cited increasing borrowing costs as contributing to the slowdown, in addition to rising living costs driven by increasing rents in Dubai.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not just us:<\/strong> Saudi Arabia is also expected to see the non-oil sector expand at a 2.9% clip this year, down from 4.4% in 2023, Kas-Hanna said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is higher than the World Bank\u2019s <\/strong><strong>forecast, but almost in line with official projections.<\/strong> The World Bank sees non-oil GDP growing <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/fed426d3-64e3-48f2-af73-fc826d9885a4\/uae-economy-to-be-a-top-performer-in-the-gcc-this-year-%25e2%2580%2593world-bank\" style=\"\" rel=\"noopener\">3.2% this year<\/a>, buoyed by \u201cstrong performance in the tourism, real estate, construction, transportation, and manufacturing sectors.\u201d The Central Bank of the UAE is more optimistic, saying it expects the sector to grow 5.4%, while Economy Minister Abdulla bin Touq Al Marri anticipates non-oil GDP to grow at a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/b246a4a4-8196-441d-ab07-ea5093b9cfe3\/the-uae-is-eyeing-5%2525-gdp-growth-this-year\" style=\"\" rel=\"noopener\">4.9% clip in 2024<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Regional outlook:<\/strong> Fitch Solutions sees the Gulf region's GDP expanding 1.8% in 2024, up from 0.6% last year, before expanding 4.9% in 2025 on the back of a recovery in oil production following extended OPEC+ supply cuts. The World Bank previously lowered its 2024 MENA growth forecast to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/fed426d3-64e3-48f2-af73-fc826d9885a4\/uae-economy-to-be-a-top-performer-in-the-gcc-this-year-%25e2%2580%2593world-bank\" style=\"\" rel=\"noopener\">2.8%<\/a> due to continued oil production constraints.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/economy\/\">Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/fitch\/\">Fitch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93790 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"93790\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/07\/12\/93790-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93790\" class=\"content-area-description single-story post-93790 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.mashreq.com\/en\/uae\/about-us\/our-company\/awards-accolades\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1928.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93791\" 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=\"93791\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/07\/12\/sharjah-govt-starts-selling-eur-500-mn-sustainability-bonds\/\">\r\n                            Sharjah gov\u2019t issues EUR 500 mn sustainability bonds                        <\/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\/12\/sharjah-govt-starts-selling-eur-500-mn-sustainability-bonds\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The offer price for the issuance is yet to be decided, HSBC said in a <a target=\"_blank\" href=\"https:\/\/www.research-tree.com\/newsfeed\/article\/hsbc-bank-plc-pre-stabilisation-notice-2472732\" style=\"\" rel=\"noopener\">notice<\/a> to the London Stock Exchange, but a previous Reuters report said the emirate had set initial price guidance at around 220 bps over the mid-swap rate.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The issuance drew some EUR 1.5 bn in orders <\/strong>as of Thursday morning, Zawya quotes IFR as reporting. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The emirate plans to use the proceeds to finance and refinance \u201celigible expenditures\u201d<\/strong> under its Sovereign Sustainable Financing Framework.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> Sharjah tapped Credit Agricole CIB, HSBC, IMI Intesa Sanpaolo, and JP Morgan as joint global coordinators on the issuance. HSBC acted as the stabilization coordinator and the sole sustainability structuring agent.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is the second green bond issuance for the emirate this year:<\/strong> Sharjah <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/e9e05015-e190-4d71-a2ac-50c9f2c0f60d\/barakah-starts-up-fourth-reactor-%2B%253cmark%253e-sharjah%253c%2Fmark%253e-closes-usd-750-mn-sustainable-bond-issuance\" style=\"\" rel=\"noopener\">closed<\/a> its USD 750 mn 12-year USD-denominated senior unsecured sustainable bond issuance in March of this year, after <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/10517999-ba89-4c04-9a6b-56179c40b62f\" style=\"\" rel=\"noopener\">tightening<\/a> their price guidance from an initial spread of 235 basis points (bps) over US treasuries to around 195 bps. The issuance drew some USD 4 bn in orders.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt-watch\/\">DEBT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/green-bonds\/\">green bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/sharjah\/\">Sharjah<\/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=\"93793\" 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=\"93793\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">REGULATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/07\/12\/adgm-publishes-whistleblowing-framework\/\">\r\n                            ADGM publishes whistleblowing framework                        <\/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\/12\/adgm-publishes-whistleblowing-framework\/\" 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\/12\/adgm-publishes-whistleblowing-framework\/')\">\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\/12\/adgm-publishes-whistleblowing-framework\/\">\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=ADGM publishes whistleblowing framework&url=https:\/\/enterpriseam.com\/uae\/2024\/07\/12\/adgm-publishes-whistleblowing-framework\/\">\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\/12\/adgm-publishes-whistleblowing-framework\/&title=ADGM publishes whistleblowing framework\">\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=ADGM+publishes+whistleblowing+framework+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F07%2F12%2Fadgm-publishes-whistleblowing-framework%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\/12\/adgm-publishes-whistleblowing-framework\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/755.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93794\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/07\/12\/adgm-publishes-whistleblowing-framework\/755-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/755.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"755.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/755.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/755.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93793\" class=\"content-area-description single-story post-93793 post type-post status-publish format-standard has-post-thumbnail hentry category-regulation-watch tag-abu-dhabi-global-market tag-enterpriseam-uae tag-financial-services-regulatory-authority tag-regulation-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.4d72001c-9694-4ec2-b045-5f1a9aac54ea.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>ADGM strengthens transparency <\/strong><strong>with whistleblowing<\/strong><strong> framework:<\/strong> The Abu Dhabi Global Market (ADGM) published a new whistleblowing framework aiming to \u201csustain transparency, accountability and market integrity within the center,\u201d according to a <a target=\"_blank\" href=\"https:\/\/www.adgm.com\/media\/announcements\/adgm-publishes-its-whistleblowing-framework\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The framework outlines <\/strong><strong><a target=\"_blank\" href=\"https:\/\/adgmen.thomsonreuters.com\/sites\/default\/files\/net_file_store\/Amendments_to_GEN_VER09.100724.pdf\" style=\"\" rel=\"noopener\">rules (pdf)<\/a><\/strong><strong> that <\/strong><strong>ADGM-authorized companies must implement as of 31 May, 2025, including: <\/strong><\/p>\n<ul>\n<li>Protection measures for good faith reporting of protected disclosures;<\/li>\n<li>Providing safe channels for the reporting of suspected breaches;<\/li>\n<li>Regular assessment of the effectiveness of the internal policies and procedures to ensure they remain up-to-date;<\/li>\n<li>Establishing and maintaining written archival records of each protected disclosure, including supporting documents and details of investigations, assessments, and findings. <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rules detailed in the framework will apply to all companies regulated by the Financial Services Regulatory Authority<\/strong>, designated non-financial businesses or professions, and large firms operating within ADGM.<\/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-global-market\/\">Abu Dhabi Global Market<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/financial-services-regulatory-authority\/\">Financial Services Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/regulation-watch\/\">REGULATION WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93795\" 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=\"93795\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/07\/12\/dp-world-could-get-eur-50-mn-from-ebrd-for-romanian-port-developments\/\">\r\n                            DP World could get EUR 50 mn from EBRD for Romanian port developments                        <\/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\/12\/dp-world-could-get-eur-50-mn-from-ebrd-for-romanian-port-developments\/\" 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\/12\/dp-world-could-get-eur-50-mn-from-ebrd-for-romanian-port-developments\/')\">\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\/12\/dp-world-could-get-eur-50-mn-from-ebrd-for-romanian-port-developments\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=DP World could get EUR 50 mn from EBRD for Romanian port developments&url=https:\/\/enterpriseam.com\/uae\/2024\/07\/12\/dp-world-could-get-eur-50-mn-from-ebrd-for-romanian-port-developments\/\">\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\/12\/dp-world-could-get-eur-50-mn-from-ebrd-for-romanian-port-developments\/&title=DP World could get EUR 50 mn from EBRD for Romanian port developments\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=DP+World+could+get+EUR+50+mn+from+EBRD+for+Romanian+port+developments+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F07%2F12%2Fdp-world-could-get-eur-50-mn-from-ebrd-for-romanian-port-developments%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\/12\/dp-world-could-get-eur-50-mn-from-ebrd-for-romanian-port-developments\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/887.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93796\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/07\/12\/dp-world-could-get-eur-50-mn-from-ebrd-for-romanian-port-developments\/887-jpg-25\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/887.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"887.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/887.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/887.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93795\" class=\"content-area-description single-story post-93795 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt tag-debt-watch tag-dp-world tag-enterpriseam-uae tag-logistics wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.0bb9d7f6-5d7e-4e55-9cb7-ad907f5222b3.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>EBRD mulls green loan for DP World\u2019s Romania project:<\/strong> The European Bank for Reconstruction and Development (EBRD) is considering the extension of a EUR 50 mn loan to DP World via its subsidiary Constanta South Container Terminal to finance the electrification of Constanta port, according to a <a target=\"_blank\" href=\"https:\/\/www.ebrd.com\/work-with-us\/projects\/psd\/54712.html\" style=\"\" rel=\"noopener\">PSD document<\/a>. The financing proposal is currently under evaluation with an approval date set for 11 September.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where\u2019s the money going? <\/strong>The electrification of the port\u2019s terminal infrastructure will include new electrical networks and transformer points, railway lines, EVs, and charging stations in a bid to mitigate the effects of climate change, according to the document.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know:<\/strong> The total project cost is currently estimated at EUR 200 mn and will be co-financed by the EU\u2019s Alternative Fuel Infrastructure Facility Programme (AFIF) with EBRD acting as implementing partner.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Big plans for Romania: <\/strong>DP World is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/149577af-5e0b-402f-bcb7-f26e7cac1403\/dp-world-pumps-eur-130-mn-of-investments-into-romania-to-boost-trade\" style=\"\" rel=\"noopener\">channeling EUR 130 mn<\/a> into three sites in Romania to boost cargo volumes by some 2 mn tonnes a year. The company <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/6f5fea43-2e0b-48c4-b36d-956c70323f60\/dp-world-eyes-usd-3-bn-in-port-investments-in-africa\" style=\"\" rel=\"noopener\">has doubled<\/a> its container shipping capacity at Constanta port as part of the project. Romania <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/149577af-5e0b-402f-bcb7-f26e7cac1403\/dp-world-pumps-eur-130-mn-of-investments-into-romania-to-boost-trade\" style=\"\" rel=\"noopener\">was the first<\/a> European country targeted by DP World for expansion. DP World has operated in the country since 2004, and has shelled out upwards of EUR 250 mn in investments in the Eastern European state in the 20 years since.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt-watch\/\">DEBT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dp-world\/\">DP World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93797\" 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=\"93797\">\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\">KUDOS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/07\/12\/six-uae-lenders-named-among-top-25-in-mena\/\">\r\n                            Six UAE lenders named among top 25 in MENA                        <\/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\/12\/six-uae-lenders-named-among-top-25-in-mena\/\" 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\/12\/six-uae-lenders-named-among-top-25-in-mena\/')\">\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\/12\/six-uae-lenders-named-among-top-25-in-mena\/\">\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=Six UAE lenders named among top 25 in MENA&url=https:\/\/enterpriseam.com\/uae\/2024\/07\/12\/six-uae-lenders-named-among-top-25-in-mena\/\">\n                    X                    <!-- <img decoding=\"async\" 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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\/12\/six-uae-lenders-named-among-top-25-in-mena\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1768.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93798\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/07\/12\/six-uae-lenders-named-among-top-25-in-mena\/1768-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1768.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1768.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1768.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1768.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93797\" class=\"content-area-description single-story post-93797 post type-post status-publish format-standard has-post-thumbnail hentry category-kudos tag-abu-dhabi-commercial-bank tag-abu-dhabi-islamic-bank tag-adfd tag-dubai-islamic-bank tag-emirates-nbd tag-enterpriseam-uae tag-first-abu-dhabi-bank tag-kudos 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\/.476e0518-6f41-4329-9830-66184095a9aa.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Six UAE banks made it to the Banker\u2019s list of top 25 banks with highest capital in Mena:<\/strong> Emirates NBD, First Abu Dhabi Bank (FAB), Abu Dhabi Commercial Bank (ADCB), Dubai Islamic Bank (DIB), our friends at Mashreq, and Abu Dhabi Islamic Bank (ADIB) are among the top 25 banks with the highest capital in the Middle East, <a target=\"_blank\" href=\"https:\/\/www.alkhaleej.ae\/2024-07-10\/6-%D8%A8%D9%86%D9%88%D9%83-%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA%D9%8A%D8%A9-%D8%B6%D9%85%D9%86-%D9%82%D8%A7%D8%A6%D9%85%D8%A9-%D8%A7%D9%84%D8%A3%D9%81%D8%B6%D9%84-%D9%81%D9%8A-%D8%A7%D9%84%D8%B4%D8%B1%D9%82-%D8%A7%D9%84%D8%A3%D9%88%D8%B3%D8%B7\/%D8%A3%D8%B3%D9%88%D8%A7%D9%82-%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA\/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF\" style=\"\" rel=\"noopener\">Al Khaleej<\/a> reported, citing the results of a <a target=\"_blank\" href=\"https:\/\/www.thebanker.com\/Top-1000-World-Banks-2024-Rankings-by-country-1720566011\" style=\"\" rel=\"noopener\">report<\/a> by Banker Magazine listing the top 1k banks in the world. <strong>The ranking:<\/strong><\/p>\n<ul>\n<li>Emirates NBD came in 4th place with a capital of USD 26.3 bn;<\/li>\n<li>FAB came in 5th with USD 25 bn;<\/li>\n<li>ADCB is 6th with USD 16.2 bn; <\/li>\n<li>DIB secured the 15th spot with USD 10.8 bn;<\/li>\n<li>Our friends at Mashreq are in 22nd place with USD 6.8 bn;<\/li>\n<li>ADIB is in 24th place with USD 5.9 bn. <\/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\/abu-dhabi-commercial-bank\/\">Abu Dhabi Commercial Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi-islamic-bank\/\">Abu Dhabi Islamic Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adfd\/\">ADFD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai-islamic-bank\/\">Dubai Islamic Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/emirates-nbd\/\">Emirates NBD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/first-abu-dhabi-bank\/\">First Abu Dhabi Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/kudos\/\">KUDOS<\/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=\"93799\" 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=\"93799\">\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\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/07\/12\/sharjah-now-has-a-media-council-bildco-names-new-chairman-plus-deputy-chairman-named-for-the-presidential-court-for-special-affairs\/\">\r\n                            Sharjah now has a media council + Bildco names new chairman                        <\/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\/12\/sharjah-now-has-a-media-council-bildco-names-new-chairman-plus-deputy-chairman-named-for-the-presidential-court-for-special-affairs\/\" 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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PLUS: Deputy chairman named for the Presidential Court for Special Affairs&url=https:\/\/enterpriseam.com\/uae\/2024\/07\/12\/sharjah-now-has-a-media-council-bildco-names-new-chairman-plus-deputy-chairman-named-for-the-presidential-court-for-special-affairs\/\">\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\/12\/sharjah-now-has-a-media-council-bildco-names-new-chairman-plus-deputy-chairman-named-for-the-presidential-court-for-special-affairs\/&title=Sharjah now has a media council + Bildco names new chairman. PLUS: Deputy chairman named for the Presidential Court for Special Affairs\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Sharjah+now+has+a+media+council+%2B+Bildco+names+new+chairman.+PLUS%3A+Deputy+chairman+named+for+the+Presidential+Court+for+Special+Affairs+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F07%2F12%2Fsharjah-now-has-a-media-council-bildco-names-new-chairman-plus-deputy-chairman-named-for-the-presidential-court-for-special-affairs%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\/12\/sharjah-now-has-a-media-council-bildco-names-new-chairman-plus-deputy-chairman-named-for-the-presidential-court-for-special-affairs\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/924.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93800\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/07\/12\/sharjah-now-has-a-media-council-bildco-names-new-chairman-plus-deputy-chairman-named-for-the-presidential-court-for-special-affairs\/924-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/924.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"924.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/924.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/924.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93799\" class=\"content-area-description single-story post-93799 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-bildco tag-enterpriseam-uae tag-moves tag-sharjah 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\/.e67c7bc4-6a2b-4e1b-b88e-3500756786a6.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Deputy Ruler<\/strong><strong> of Sharjah Sheikh Sultan bin Muhammad Qasimi<\/strong> <strong>will head the newly <\/strong><strong>established Sharjah Media Council <\/strong>for a four-year term, <a target=\"_blank\" href=\"https:\/\/wam.ae\/ar\/article\/140e0os-%D8%AD%D8%A7%D9%83%D9%85-%D8%A7%D9%84%D8%B4%D8%A7%D8%B1%D9%82%D8%A9-%D9%8A%D8%B5%D8%AF%D8%B1-%D9%85%D8%B1%D8%B3%D9%88%D9%85%D8%A7-%D8%A3%D9%85%D9%8A%D8%B1%D9%8A%D8%A7-%D8%A8%D8%AA%D8%B4%D9%83%D9%8A%D9%84-%D9%85%D8%AC%D9%84%D8%B3\" style=\"\" rel=\"noopener\">Wam<\/a> reported. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi Deputy Ruler Sheikh Hamdan bin Zayed Al Nahyan<\/strong> is appointed as the new <strong>deputy chairman<\/strong> of the <strong>Presidential Court for Special Affairs<\/strong> with the rank of minister, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b43azlj-uae-president-appoints-hamdan-bin-mohamed-bin\" style=\"\" rel=\"noopener\">Wam<\/a> reported. Al Nahyan holds several other positions including chairman of the Environment Agency of Abu Dhabi and chairman of the Emirates Red Crescent<\/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:\/\/bildco.ae\/\" style=\"\" rel=\"noopener\">Abu Dhabi National Company for Building Materials<\/a><\/strong> (Bildco) has appointed <strong>Omran Al <\/strong><strong>Hallami<\/strong> as chairman of the board, and <strong>Rasheed Ali Rasheed Al Omaira <\/strong>as <strong>vice chairman<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/912.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a>. <strong>Ali Rashid Nasser Al-Amira<\/strong> was also appointed <strong>managing director<\/strong>. <\/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\/bildco\/\">Bildco<\/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\/sharjah\/\">Sharjah<\/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=\"93801\" 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=\"93801\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/07\/12\/ultratech-closes-rak-white-cement-acquisition\/\">\r\n                            UltraTech closes Rak White Cement acquisition                        <\/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\/12\/ultratech-closes-rak-white-cement-acquisition\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The additional stake purchase brings Ultratech\u2019s total stake in Rak White Cement to 54%, equivalent to 272 mn shares.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> Ultratech already owned a 29% stake in Rak White Cement, which it acquired in 2022 as part of a plan to expand the cement manufacturer\u2019s operations locally and globally, and to introduce new products to Rak Cement\u2019s production portfolio. <\/p>\n<p class=\"tag-border-left\">DEBT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fitch Ratings upgraded Abu Dhabi Future Energy Company\u2019s (Masdar) long term foreign <\/strong><strong>and local currency issuer default ratings to AA- with a stable outlook, <\/strong>from A+ previously, it said in a <a target=\"_blank\" href=\"https:\/\/www.fitchratings.com\/research\/international-public-finance\/fitch-upgrades-abu-dhabi-future-energy-company-pjsc-to-aa-outlook-stable-10-07-2024\" style=\"\" rel=\"noopener\">statement<\/a>. The agency cited support from the Abu Dhabi government as the reason for the upgrade. <\/p>\n<p class=\"tag-border-left\">ENERGY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Adnoc autonomizes well control in offshore Nasr field: <\/strong>The Abu Dhabi National Oil Company (Adnoc) has deployed AIQ\u2019s AI-powered RoboWell autonomous well-control solution across 10 wells in its offshore Nasr field, with plans to expand the technology to over 300 wells in Adnoc\u2019s offshore and onshore operations within the year, according to a <a target=\"_blank\" href=\"https:\/\/www.adnoc.ae\/en\/news-and-media\/press-releases\/2023\/adnoc-deploys-aiqs-world-first-robowell-ai-solution-in-offshore-operations\" style=\"\" rel=\"noopener\">statement<\/a>. The move comes as the oil giant looks to ramp up operational efficiency and reliability in energy supply. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not Adnoc\u2019s first time adopting RoboWell: <\/strong>Adnoc previously used RoboWell for its first smart field, dubbed NEB field, in 2023. The technology has optimized gas lift consumption by up to 30% and increased operating efficiency by 5%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Sewa to connect natural gas to Dibba Al-Hisn by year-end:<\/strong> The Sharjah Electricity, Water and Gas Authority (Sewa) is set to complete its AED 31 mn project to introduce natural gas services to the Dibba Al-Hisn city by the end of 2024, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b43wf7h-sharjah-expands-natural-gas-access-dibba-hisn\" style=\"\" rel=\"noopener\">Wam<\/a> reports. Expected to benefit 17k residents, the project includes building a gas storage facility, laying a 84km pipeline in four phases to distribute the gas, and connecting the gas to residences internally.<\/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>Iman Real Estate Development has broken ground on the AED 700 mn mixed-use <\/strong><strong>development project One Park Central in Jumeirah Village Circle<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/iman-developers-breaks-ground-on-aed-700mln-one-park-central-in-jumeirah-village-circle-dvh6nf4m\" style=\"\" rel=\"noopener\">press release<\/a>. The project will have 482 residential apartments, 38 commercial units, six retail spaces, five parking levels, 23 residential floors, and 60 recreational facilities including fitness and wellness facilities. The project is scheduled for completion in 2Q 2027.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">STARTUPS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E-hailing taxi startup Hala expands to Egypt: <\/strong><a target=\"_blank\" href=\"https:\/\/www.halaride.com\/\" style=\"\" rel=\"noopener\">Hala<\/a>, founded in 2019 by Careem and the Roads and Transport Authority (RTA) in Dubai, signed an MoU with MwaslaTech to expand into Egypt, according to a <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2024\/07\/uaes-hala-expands-egyptian-market-partnering-mwaslatech\" style=\"\" rel=\"noopener\">press release<\/a>. The partnership will introduce advanced mobility solutions in Egypt, including in the New Administrative Capital and other cities. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">ARBITRATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ajman overhauls arbitration body<\/strong>: The emirate of Ajman has established the Ajman Arbitration Centre, aimed at offering alternative dispute resolutions for the emirate\u2019s financial and business sectors, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b43wevm-humaid-bin-rashid-issues-decree-establishing-ajman\" style=\"\" rel=\"noopener\">Wam<\/a> reports. Formerly known as the \u201cAjman Centre for Commercial Conciliation and Arbitration,\u201d the new center\u2019s mandate includes increasing arbitration awareness, enhancing local expertise, and providing dispute resolution services. Existing arbitration agreements and processes will not be nullified and will remain valid under the mandate of the new body. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">PAYMENTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Network + Mastercard enhance commercial payment digitization: <\/strong>Dubai-based payments provider Network International has introduced new business payments solutions in partnership with Mastercard tailored for UAE-based businesses and travel industry firms, according to a <a target=\"_blank\" href=\"https:\/\/www.network.ae\/en\/news\/view\/network-international-and-mastercard-partner-to-transform-uaes-commercial-payments-landscape\" style=\"\" rel=\"noopener\">press release<\/a>. Under the partnership, Network will offer virtual card and payment card products, as well as digital expense management services, geared towards enhancing corporate clients\u2019 payment security, streamlining their financial operations, and improving their cashflow. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">TRADE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ras Al Khaimah + Argentina to boost private-sector cooperation:<\/strong> Ras Al Khaimah Chamber of Commerce and the Argentine Chamber of Commerce and Services signed an agreement to encourage private-sector trade and joint investments between the emirate and Argentina, <a target=\"_blank\" href=\"https:\/\/wam.ae\/ar\/article\/b43w737-%D8%BA%D8%B1%D9%81%D8%A9-%D8%B1%D8%A3%D8%B3-%D8%A7%D9%84%D8%AE%D9%8A%D9%85%D8%A9-%D8%AA%D9%88%D9%82%D8%B9-%D8%A7%D8%AA%D9%81%D8%A7%D9%82%D9%8A%D8%A9-%D8%AA%D8%B9%D8%A7%D9%88%D9%86-%D9%86%D8%B8%D9%8A%D8%B1%D8%AA%D9%87%D8%A7\" style=\"\" rel=\"noopener\">Wam<\/a> reported.The partnership also aims to boost scientific and technical relations between the two sides. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">BANKING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ajman Bank signed an MoU with Visa to launch a new credit card aimed at <\/strong><strong>supporting small and medium enterprises and commercial projects in the UAE,<\/strong> according to a <a target=\"_blank\" href=\"https:\/\/www.instagram.com\/reel\/C9R_pC-PuKX\/?img_index=1\" style=\"\" rel=\"noopener\">statement<\/a>. The card \u2014 called the Visa AccelRight Business Card \u2014 will help businesses manage expenses and working capital requirements. It will also have an option to separate business and personal expenses to smooth account settlement, and will simplify the payment processes for taxes while integrating a system to protect against unauthorized transactions, <a target=\"_blank\" href=\"https:\/\/www.alkhaleej.ae\/2024-07-11\/%D9%85%D8%B5%D8%B1%D9%81-%D8%B9%D8%AC%D9%85%D8%A7%D9%86-%D9%8A%D8%B7%D9%84%D9%82-%D8%A8%D8%B7%D8%A7%D9%82%D8%A9-%D8%A7%D8%A6%D8%AA%D9%85%D8%A7%D9%86%D9%8A%D8%A9-%D8%AC%D8%AF%D9%8A%D8%AF%D8%A9-%D9%84%D9%84%D8%A3%D8%B9%D9%85%D8%A7%D9%84-%D8%A7%D9%84%D9%86%D8%A7%D8%B4%D8%A6%D8%A9\/%D8%A3%D8%B3%D9%88%D8%A7%D9%82-%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA\/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF\" style=\"\" rel=\"noopener\">Al Khaleej<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">AVIATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emarat to supply Emirates\u2019 cargo flights with fuel at Al Maktoum Airport:<\/strong> Fuel distributor Emirates General Petroleum Corporation (<a target=\"_blank\" href=\"https:\/\/www.emarat.ae\/\" style=\"\" rel=\"noopener\">Emarat<\/a>) inked an agreement with Emirates Airline Group to provide the airline with aviation fuel for its cargo operations at Al Maktoum International Airport, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b43wf7n-emarat-signs-first-agreement-with-emirates-airline\" style=\"\" rel=\"noopener\">Wam<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">SOCIAL SUPPORT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi to get a child center to boost childcare: <\/strong>Abu Dhabi Early Childhood Authority, the Family Care Authority and the Development and Fallen Heroes\u2019 Affairs signed a service level agreement and an MoU with four Abu Dhabi based entities to establish a child center in a bid to boost the safety and well being of children in the emirate, according to the <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/community\/theyab-bin-mohamed-bin-zayed-witnesses-signing-of-the-service-level-agreements-to-establish-the-child-center\/\" style=\"\" rel=\"noopener\">Abu Dhabi Media Office<\/a>. The center will provide services such as social and psychological support, medical examinations, care for at-risk children, and early detection and intervention for diseases. <\/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>Belgium-based dutyfree retail distributor <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.overseas.be\/\" style=\"\" rel=\"noopener\">Overseas Distribution Company<\/a><\/strong><strong> (ODC) is <\/strong><strong>launching a commercial and logistic office in Dubai, <\/strong>headed by Paul Murray (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/paul-murray-9761b333\/?original_referer=https%3A%2F%2Fwww%2Egoogle%2Ecom%2F&originalSubdomain=ae\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as CEO, according to <a target=\"_blank\" href=\"https:\/\/www.seatrade-cruise.com\/people-opinions\/odc-open-dubai-office-appoints-paul-murray-ceo-middle-east\" style=\"\" rel=\"noopener\">Seatrade Cruise News<\/a>. The opening of the new office is expected to be completed in the coming months, ODC\u2019s commercial director Manuel Demaerel said. Murray \u2014 who will be officially appointed next month \u2014 has over 25 years of experience working within the travel retail industry, including 15 years as head of travel retail at Maritime and Mercantile International in Dubai.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi\/\">Abu Dhabi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adnoc\/\">Adnoc<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ajman-bank\/\">Ajman Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a 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href=\"https:\/\/enterpriseam.com\/uae\/tag\/payments\/\">payments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/rak-white-cement\/\">RAK White Cement<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ras-al-khaimah\/\">Ras Al Khaimah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/real-estate\/\">Real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/roads-and-transport-authority\/\">Roads and Transport Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/sharjah-startups\/\">Sharjah startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/social-support\/\">Social support<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ultratech\/\">UltraTech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/visa\/\">Visa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93803\" 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=\"93803\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/07\/12\/london-introduces-biggest-capital-rules-overhaul-in-three-decades\/\">\r\n                            London introduces biggest capital rules overhaul in three decades                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn 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<\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/07\/12\/london-introduces-biggest-capital-rules-overhaul-in-three-decades\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1238.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"93804\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/07\/12\/london-introduces-biggest-capital-rules-overhaul-in-three-decades\/1238-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1238.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1238.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1238.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1238.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93803\" class=\"content-area-description single-story post-93803 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam-uae tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.c466b4ed-d25c-4830-a467-57383a9f7a11.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>UK rolls out new listing rules: <\/strong>British regulators have pulled the trigger on the biggest overhaul of listing rules for London-listed companies in three decades, as it looks to breathe new life into capital markets amid increased international competition and investment outflows, the UK\u2019s Financial Conduct Authority said in a <a target=\"_blank\" href=\"https:\/\/www.fca.org.uk\/news\/press-releases\/fca-overhauls-listing-rules-boost-growth-and-innovation-uk-stock-markets\" style=\"\" rel=\"noopener\">statement<\/a>. The new rules \u2014 which will take effect from 29 July \u2014 come as part of a wider package of reforms spearheaded by the Conservative party and expected to continue under the newly elected Labour administration. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rule changes come as the UK looks to attract more tech firms<\/strong>, which have tended to go to the US where there is a dual-class structure allowing investors to maintain voting rights and control regardless of changes in the shareholding structure, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/a990dfd6-ef99-40ca-b382-276f9f811d00\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports. This makes it easier for investors like private equity firms and venture capitalists to maintain control of their investments post-listing.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> Investment groups such as private equity firms and VCs can hold supervoting rights for up to 10 years, with sovereign wealth funds allowed an even longer period of validity for the rights. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A boon for Middle East investors?<\/strong> The salmon-colored paper notes that the flexibility for sovereign wealth funds to invest in firms and have supervoting rights will encourage Middle East investors \u2014 who already have a lot of interest in the country\u2019s capital markets \u2014 to list firms there. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Other changes include the removal of \u201cpremium\u201d and \u201cstandard\u201d categories for listings<\/strong>, each of which had separate requirements, and unifying and simplifying all listings\u2019 eligibility criteria, according to the FCA. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are mixed <\/strong>as traders mull US inflation data and the possibility of state intervention in the JPY, which strengthened against the USD early this morning. The Nikkei ended its streak of new highs with a nearly 2% dip, while the Kospi was down 1.3% at dispatch time. The Hang Seng and Shanghai indices are in the green.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wall Street futures are flat<\/strong> after an unusual day that saw the S&P 500 log its worst session since April, while European futures indicate a strong open.<\/p>\n<p><a target=\"_blank\" id=\"t.6eff5d25721cad3e79808d4906b69ad65a0efbcc\" 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<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\">9,151<\/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: -4.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,091<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: +0.8%)<\/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>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\">3,527<\/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: -8.2%)<\/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-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>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\">5.0% 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\">5.2% 1 yr<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,792<\/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: -1.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">28,288<\/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: +13.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&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\">5,585<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.8% (YTD: +17.1%)<\/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\">8,223<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +6.3%)<\/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>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\">4,976<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: +10.1%)<\/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>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 85.69<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3%<\/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 2.27  <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,418.90<\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 57,220<\/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: +29.5%)<\/p>\n<\/td>\n<\/tr>\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 0.3% yesterday<\/strong> on turnover of AED 227 mn. The index is up 0.8% 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 Firdous Holdings (+4.3%), Agility (+3.1%) and Amlak Finance (+2.7%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Al Salam Sudan (-8.2%), Sukoon Ins. (-5.2%) and Islamic Arab Ins. Company (-3.4%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over on the ADX<\/strong>, the index closed up 0.1% on turnover of AED 1.1 bn. Meanwhile Nasdaq Dubai rose 0.4%<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Alpha Dhabi to get larger stake in NCTH:<\/strong> Abu Dhabi\u2019s tourism promotion firm National Corporation for Tourism & Hotels (<a target=\"_blank\" href=\"https:\/\/www.ncth.com\/\" style=\"\" rel=\"noopener\">NCTH<\/a>) approved an increase in <a target=\"_blank\" href=\"https:\/\/www.alphadhabi.com\/home\/\" style=\"\" rel=\"noopener\">Alpha Dhabi<\/a> \u2019s stake in the company by issuing 1.27 bn shares to be offered at AED 1 apiece, up from 899 mn shares in exchange for acquiring three Alpha Dhabi-owned hotel businesses, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/916.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>. The new shares will be issued after NCTH completes a AED 2.17 bn capital increase to proceed with the acquisition of Alpha Dhabi\u2019s businesses, which include ADH Hospitality, Murban BVI Holding, and Hill View Resorts in the Seychelles.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What changed?<\/strong> Alpha Dhabi was initially set to receive 1.25 bn new shares following NCTH\u2019s capital increase to AED 2.15 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>The transaction was first revealed in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/fa7faa39-cc5a-43f8-ab24-7aea18e4060c\/\" style=\"\" rel=\"noopener\">March<\/a>, with Alpha Dhabi\u2019s shareholders approving the asset sale in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/6da999fd-85a2-4e41-a871-c1276ab60020\/alpha-dhabi-bags-shareholder-approval-to-shed-assets\" style=\"\" rel=\"noopener\">June<\/a>. <a target=\"_blank\" href=\"https:\/\/alphadhabi.com\/press_release\/alpha-dhabi-check-in-as-major-player-in-the-hospitality-industry-with-aed-730-million-national-corporation-for-tourismhotels-acquisition\/\" style=\"\" rel=\"noopener\">Last year<\/a>, Alpha Dhabi acquired a 36.4% stake in NCTH for AED 730 mn, becoming its largest single stakeholder. The companies that will be acquired \u2014 ADH Hospitality, Murban BVI Holding, and Hill View Resorts Seychelles \u2014 were originally part of Murban\u2019s asset portfolio, but were incorporated into Alpha Dhabi\u2019s after it acquired Murban <a target=\"_blank\" href=\"https:\/\/alphadhabi.com\/press_release\/construction-firm-alpha-dhabi-acquires-owning-company-of-the-st-regis-saadiyat-island\/\" style=\"\" rel=\"noopener\">back in 2021<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"93805\" 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=\"93805\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/07\/12\/uae-japan-to-boost-cooperation-for-food-security\/\">\r\n                            UAE +Japan to boost cooperation for food security                        <\/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\/12\/uae-japan-to-boost-cooperation-for-food-security\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The two discussed furthering their collaborative efforts in sustainable agriculture, raising efficiency in fish farms, and innovative ways to enhance national food security and food trade. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE also inked an MoU with Japan to establish a framework of cooperation on intellectual property<\/strong>, including patents, utility models, and industrial designs, at the World Intellectual Property Organization (WIPO) in Geneva, state news agency <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/ar\/article\/140bvip-%25D8%25A7%25D9%2584%25D8%25A5%25D9%2585%25D8%25A7%25D8%25B1%25D8%25A7%25D8%25AA-%25D8%25AA%25D8%25B4%25D8%25A7%25D8%25B1%25D9%2583-%25D8%25A7%25D8%25AC%25D8%25AA%25D9%2585%25D8%25A7%25D8%25B9%25D8%25A7%25D8%25AA-%25D8%25A7%25D9%2584%25D8%25AF%25D9%2588%25D8%25B1%25D8%25A9-%25D8%25A7%25D9%2584%25D9%2580-%25D9%2584%25D9%2580%25D8%25A7%25D9%2584%25D9%2588%25D9%258A%25D8%25A8%25D9%2588-%25D9%2588-%25D8%25AA%25D9%2588%25D9%2582%25D8%25B9\" style=\"\" rel=\"noopener\">Wam<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE in talks with Poland to strengthen economic cooperation: <\/strong>The UAE had its first Strategic Financial Dialogue with Poland in Warsaw, led by Finance Ministry Undersecretary Younis Haji Al Khoori, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b43azod-uae-holds-first-strategic-financial-dialogue-with\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The parties discussed financial and economic cooperation, and considered new avenues for partnership in the renewable energy and banking sectors.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/japan\/\">Japan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/poland\/\">Poland<\/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=\"93807\" 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=\"93807\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">MY MORNING ROUTINE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/07\/12\/my-morning-routine-renoy-kundukulam-ceo-of-finmark-capital\/\">\r\n                            My Morning Routine: Renoy Kundukulam, CEO of Finmark Capital                        <\/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\/12\/my-morning-routine-renoy-kundukulam-ceo-of-finmark-capital\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Speaking to us this week is Renoy Kundukulam (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/renoy-kundukulam-71545b\/?profileId=ACoAAAARE0EBU1BLi9JB0NrOmNeLAUcP0dYXEOU\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), CEO of <a target=\"_blank\" href=\"https:\/\/finmark.ae\/about_us\" style=\"\" rel=\"noopener\">Finmark Capital<\/a>. Edited excerpts from our conversation:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I\u2019m a career banker<\/strong> <strong>who would like to be remembered for having created a legacy in terms of what I have done<\/strong> in the industry here in the region. I was assigned the task of setting up the wealth management unit for Noor Bank, an Islamic bank which got <a target=\"_blank\" href=\"https:\/\/www.dib.ae\/about-us\/news\/2020\/01\/22\/dib-completes-the-acquisition-of-noor-bank\" style=\"\" rel=\"noopener\">merged<\/a> into Dubai Islamic Bank. It was a small local bank, almost seven or eight years old by then. Before then, I used to head the wealth management business for Standard Chartered, managing the Levant region, which is the UAE, Jordan, Qatar, Lebanon, Oman and Bahrain. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I can proudly say that in the six year journey that I had with Noor Bank before I moved into DIB after the merger, we had created a brand name<\/strong> within the wealth management fraternity in the country that was reckoned with. The big established Islamic banks, like Abu Dhabi Islamic Bank or Emirates Islamic Bank or Dubai Islamic Bank would really envy us in terms of the kind of products and innovative solutions we would bring to the table. There were a lot of barriers that were broken. I transformed it from a loss making business in 2013 \u2014 with AED 13 mn of losses in six years \u2014 to one with a topline of about AED 120 mn and a bottom line of AED 40 mn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>After the merger, I convinced a set of people within my organization to see the vision I had for Finmark.<\/strong> It was a covid baby \u2014 we decided to jump into it at the peak of the pandemic. We took that bold call at that point in time and were able to convince investors to support us. With the hard work of people today, I can say we\u2019ve had three full financial years and every year, our bottom line has been in the black. We made profits right from the first year of operations. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>When I was at Noor Bank, I had teams traveling to markets like Switzerland, Pakistan, Africa, and the GCC. <\/strong>What we found was that the business of wealth management via an intermediary is pretty huge. Of the 3 tn business in Switzerland, almost 45% of the business happens through what we call independent asset managers or external asset managers. We used to visit these intermediaries and they would bring their clients to us \u2014 because I was on the other side of the fence at that point in time \u2014 and they said, we manage client wealth and we want to diversify geographically for the client, as well as from an asset class perspective.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We are in essence an intermediary, or a multifamily office. <\/strong>We sit between the high net worth client and the bank. We\u2019re all ex-bankers; most are certified investment consultants. We service the client and we provide advisory for products like stock, bonds, mutual funds, ETFs, derivative solutions, warrants, options, or even alternative investment options. We partnered with about nine different institutions across various geographies like Switzerland, Singapore, UAE, Mauritius. With the single point contact being the UAE, you can access the world in terms of where you would want your portfolio or your money to be. Our client doesn't have to visit any of these jurisdictions to get things done; we make it happen and we open and manage the account. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We have a system where there are 17 different investment banks which are plugged into the platform<\/strong>, sort of like an Amazon or Booking.com, and the client gets to choose where it can get the best pricing and product. For example, if I were to bank with Citibank, I would see Citibank\u2019s pricing. But this option allows you to buy a product from any bank and custodize with your bank. We offer that value of negotiating with the bank and finding our clients the best product. We also offer continuity, especially for clients in Africa who see banks close down. We can simply move the portfolio to another bank we\u2019re partnered with. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We also offer legacy planning for our clients, and capital advisory for lending solutions<\/strong> like trade finance, bridge or mezzanine finance, for corporates looking for short-term financing needs. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our sweet spot is to look at clients with a liquid net worth of between USD 2-20 mn<\/strong>. We believe that these clients are disserviced at private banks, which usually like to focus on clients with a net worth of USD 25 mn and upward, and don\u2019t have the expertise or knowledge to cater to this type of client. 70% of our clients are resident clients, and 30% are non-resident, mostly from the region, as well as Africa, Asia, and Europe. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I meet up with the HR manager once a week<\/strong> to understand what kind of administrative aspect needs to be looked at; employee engagement, plans to take the team out, etc. I also focus a lot on our social media marketing. The third element is sitting with the compliance team once a week to understand the status of the periodic review, how many cases we are getting, etc.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">I also sit with the portfolio analyst to discuss client portfolios, issues, etc, and with the sales team. Then I sit with the service team to understand in charge of our pipeline for bank partnerships, and I meet with the top management, the head of sales and my CIO. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I also meet with people in the industry<\/strong>, people like me, unit heads and relationship managers to gauge any opportunities in the market. For example, we identified FX as an opportunity which is missing in our current scheme of business, so we have now applied for the license to be able to provide that service. We've also applied for an ins. intermediary license. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My morning routine is probably a bit of a disappointment [laughs].<\/strong> I'm not a morning person at all. I start my day a little late, and come into the office around 9:30. I hit the gym three days a week with my trainer in the morning. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>When I come into the office, I look at my schedule.<\/strong> My week is always scheduled early on, with weekly meetings, board meetings, and town halls all penciled in. I check if there are any urgent emails that I need to reply to, and then if I'm meeting some people during the day, I would have my meetings. I\u2019m engaged with the team during the day; it's an open door policy. Anybody can walk in at any time. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I'm always available for client calls or discussions. <\/strong>Any client that is getting onboarded, I ensure that I myself go through the entire KYC before I approve it. I don't just let compliance handle it. Towards the end of the day is when I pick up Financial Times or longer reads on the markets, when I know that most of the people from my office have gone. One thing I make sure I always do before I leave my office is not to leave any unread emails. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I wind down at around 7:30 in the evening<\/strong>. I have my dinners at eight and then go for a walk at around 10, and then watch something on TV or Netflix and retire around 12.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I feel the idea of a work life balance is a bit of a myth<\/strong>, because it\u2019s presented as something like a yin yang or, or a hero-villain kind of thing. When life is the hero, you are essentially saying work is a villain, which is not the case. The terminology is self-defeating. If I'm able to enjoy the work that I do, that is part of my life. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I have a hunger in terms of what I want to do on the professional side<\/strong>; I know I could probably do a lot more, whether that\u2019s both growing this business or looking at what else I can do. On the personal side, I have liked the fact that I've been able to be more fit than what I was a few years back, so I want to work continuously on that.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I'm also working out the digital aspect of wealth management, because scalability is very important.<\/strong> The tech adaptation aspect in this industry is not as simple and straightforward as in others. It's a highly engaged model; you need advisory and not everything would be easily available online, so it\u2019s that juncture that I'm trying to figure out. What is that next big thing that will be talked about maybe say five or 10 years from now? That thought keeps me awake at night sometimes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I\u2019m currently reading <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.amazon.com\/Atomic-Habits-Proven-Build-Break\/dp\/0735211299\" style=\"\" rel=\"noopener\">Atomic Habits<\/a><\/strong>, which I find quite interesting. It tells you to establish a system, not just a goal, because then you have a routine that becomes your true identity, instead of just an end goal to achieve. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One piece of advice that I tend to carry with me is to always question the status quo.<\/strong> I will always challenge my team and urge them to aim high. A lot of people I worked with told me they used to be skeptical about some of the steps I took, but now they tell me to keep doing that and to trust my intuition and break barriers. <\/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\/asset-management\/\">Asset management<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/finmark-capital\/\">Finmark Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/wealth-management\/\">Wealth management<\/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=\"93809\" 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\/12\/93809-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-93809\" class=\"content-area-description single-story post-93809 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;\">13-18 July (Saturday-Thursday): Asia-Pacific Accreditation Cooperation, 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;\">31 July (Wednesday): Deadline for Sidara to submit another takeover bid to Wood Group. <\/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>20-21 August (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/worldesgsummit.com\/\" style=\"\">The World ESG Summit<\/a><\/span><span style=\"font-weight:400;\">, Dubai.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>21-22 August (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/rexconferences.com\/conference-info\" style=\"\">Rex Fuels Global Expo & Conference 2024- Bitumen, Petrochemicals & Products<\/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;\">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>25 Augus<\/span><span>t (Sunday): Deadline to register for the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/web.cvent.com\/event\/815bd57e-4235-40ee-aaaf-59cb1da72d53\/summary\" style=\"\">AI Challenge<\/a><\/span><span style=\"font-weight:400;\">. <\/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>16-18 September (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldutilitiescongress.com\/\" style=\"\">World Utilities Congress<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>23-25 September (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldfzo.org\/Events\/Upcoming-Events\/id\/702\/zones-and-the-shifting-global-economic-structures-unlocking-new-investment-avenues\" style=\"\">World<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldfzo.org\/Events\/Upcoming-Events\/id\/702\/zones-and-the-shifting-global-economic-structures-unlocking-new-investment-avenues\" style=\"\">Freezones<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldfzo.org\/Events\/Upcoming-Events\/id\/702\/zones-and-the-shifting-global-economic-structures-unlocking-new-investment-avenues\" style=\"\">Organization\u2019s Annual International Conference and Exhibition<\/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>25-26 September (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/steel.apexevents.cn\/\" style=\"\">Green Steel Summit<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE.<\/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>1-3 October (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wetex.ae\" style=\"\">Water, Energy and Environment Technology Exhibition<\/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>2-3 October (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wges.ae\/\" style=\"\">The World Green Economy Summit<\/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>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>8-10 October (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wam.ae\/en\/article\/b25n998-under-patronage-mansour-bin-zayed-inaugural-global\" style=\"\">The Global Rail Transport Infrastructure Exhibition and Conference<\/a><\/span><span style=\"font-weight:400;\">(Global Rail), 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;\">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>21-22 October (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.aimsummit.com\/event\/dubai\/summary\" style=\"\">The Alternative Investment Summit<\/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;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>26-27 October (Saturday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/theires.org\/Conference\/18859\/ICTTL\/\" style=\"\">International Conference on Tourism, Transport, and Logistics<\/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>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>11-14 November (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.adipec.com\/\" style=\"\">Abu Dhabi International Petroleum Exhibition & Conference<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi. <\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>11-14 November (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.adipec.com\/maritime-logistics\/\" style=\"\">ADIPEC Maritime and Logistics Exhibition and 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>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;\">26-27 November (Tuesday-Wednesday) Global Food Security Summit, 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>27-28 November (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/rakenergysummit.rak.ae\/\" style=\"\">RAK Energy Summit<\/a><\/span><span style=\"font-weight:400;\">, 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>10-12 December (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/meira.me\/conference\/\" style=\"\">Middle East Investor Relations Association (MEIRA)<\/a><\/span><span style=\"\">, Conrad Abu Dhabi Etihad Towers Hotel, 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;\">JANUARY 2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>14-16 January (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldfutureenergysummit.com\/\" style=\"\">World Energy Summit<\/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: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>24-26 February (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.mena.gh2events.com\/\" style=\"\">Connecting Hydrogen MENA<\/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;\">APRIL 2025<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>16-17 April: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/globalportsforum.com\/dubai-to-host-gpf\/\" style=\"\">Global Ports 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<li><span style=\"font-weight:400;\">TBD: e& will complete Adnoc\u2019s private 5G network. <\/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>Non-oil GDP to slow to 5% -Fitch | Sharjah launches EUR 500 mn bond sale | New whistleblowing framework at ADGM<\/p>\n","protected":false},"featured_media":93782,"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-93781","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"5c057802-be35-472e-8887-97e1fe1f8797","teaser":"Non-oil GDP to slow to 5% -Fitch | Sharjah launches EUR 500 mn bond sale | New whistleblowing framework at 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