{"id":94444,"date":"2024-08-02T00:00:00","date_gmt":"2024-08-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=94444"},"modified":"2025-12-15T01:02:38","modified_gmt":"2025-12-15T01:02:38","slug":"the-uae-was-the-second-biggest-issuer-of-esg-sukuk-in-1h-2024","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/the-uae-was-the-second-biggest-issuer-of-esg-sukuk-in-1h-2024\/","title":{"rendered":"The UAE was the second biggest issuer of ESG sukuk in 1H 2024"},"content":{"rendered":"<section id=\"94446\" 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=\"94446\">\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\/08\/02\/visa-overstay-amnesty-period-in-september-could-someone-acquire-the-spectator-from-redbird-imi-as-soon-as-this-month\/\">\r\n                            THIS MORNING: Visa overstay amnesty period in September + could someone acquire The Spectator from RedBird-IMI as soon as this month?                        <\/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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decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1354.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"94447\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/02\/visa-overstay-amnesty-period-in-september-could-someone-acquire-the-spectator-from-redbird-imi-as-soon-as-this-month\/1354-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1354.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1354.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1354.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1354.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-94446\" class=\"content-area-description single-story post-94446 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-abu-dhabi-investment-authority tag-enterpriseam-uae tag-ma tag-real-estate tag-redbird-imi-2 tag-sharjah 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\/8\/.587a09ba-9710-4852-bbf5-9133d1a5568f.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;\">It\u2019s the final day of what felt like a long week, and we\u2019re very much looking forward to the weekend.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a relatively quiet day in the news \u2014 though not on the earnings front. <\/strong>The biggest stories of the day include: data on the <strong>UAE\u2019s ESG sukuk issuances<\/strong> in 1H 2024; an <strong>investment <\/strong>from<strong> Dubai-based National Pulse<\/strong> in Singaporean fintech <strong>Aleta<\/strong>; and a new <strong>AED 293 mn medical manufacturing facility<\/strong>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UPDATE ON OUR OLYMPICS RUN- The UAE equestrian team finished 18th in yesterday\u2019s qualifiers, <\/strong>failing to qualify for the finals.<strong> Today: <\/strong>Judoka Magomedomar Magomedomarov competes in the round of 32 against Mohamed El Mehdi Lili. Meanwhile, Mariam El Farsi will compete in the 100m sprint. <\/p>\n<p class=\"tag-border-left\"> PUBLIC SERVICE ANNOUNCEMENTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>#1- Residents breaching residency regulations will be exempt from any fines starting 1 <\/strong><strong>September and until November,<\/strong> according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/UAEICP\/posts\/pfbid038A51FqXQHHgPcTLqP561C8ceQ2qhXmahkp42HgBSdcgh25X2gv7DL6gx9nSfpHc5l?__cft__[0]=AZUVoocLkBsNwVZrKjF8DngmW5qvbdxadJjV6eE_0pmaNFqkJ80QFzZZEwR0LKrg53a15eLk_7YckvBUuKghK0uC7vdjNzZpnizY8NISI3Xkhuw9T2ccAEBy5mdwJNAw_HhzBiIOFGmUNgbIgX1M71_Kn05t4Z7hBmxAHw6Ubc5X1386YIdJycO720CNUVYeHM36aCN7Vpk3likz7lDOX-Lz&amp;__tn__=%2CO%2CP-R\" style=\"\" rel=\"noopener\">decision<\/a> by the Federal Authority for Identity, Citizenship, Customs, and Port Security. The two-month grace period will allow violators to either adjust their status or leave the UAE without facing legal consequences. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Two gov\u2019t websites will be suspended today: <\/strong>The Foreign Affairs Ministry\u2019s website, along with the Federal Prevention and Safety System\u2019s services on the civil defense and Interior ministry\u2019s websites, applications, and other third party platforms services will be suspended temporarily today for technical maintenance, according to two separate X posts (<a target=\"_blank\" href=\"https:\/\/x.com\/moiuae\/status\/1819029185446240501\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/x.com\/mofauae\/status\/1818999920004612137\" style=\"\" rel=\"noopener\">here<\/a>). The Foreign Affairs Ministry\u2019s website will be unavailable starting 9pm and until midnight, while the rest will be suspended for one hour from noon until 1pm. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Etihad Airways has warned against fake ads promoting subscriptions to an IPO on <\/strong><strong>DFM,<\/strong> stating that \u201cdeceptive posts\u201d are using the carrier\u2019s branding to advertise fraudulent investment opportunities in a statement to <a target=\"_blank\" href=\"https:\/\/www.khaleejtimes.com\/uae\/uae-etihad-warns-of-fake-ads-offering-ipo-shares-on-social-media\" style=\"\" rel=\"noopener\">Khaleej Times<\/a>. The Securities and Commodities Authority also <a target=\"_blank\" href=\"https:\/\/x.com\/sca_uae\/status\/1818929218559885575\" style=\"\" rel=\"noopener\">warned<\/a> against the fake ads. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Etihad Airways <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/fb6668e9-b741-4d46-90fd-c0709ca49bf5\/%253cmark%253eetihad%253c%2Fmark%253e-airways-moves-forward-with-planned-ipo\" style=\"\" rel=\"noopener\">tapped banks<\/a> in May to advise on its planned IPO on the ADX, which could raise as much as USD 1 bn. Slated to become the first by a Gulf carrier, the share float could take place by year\u2019s end. <\/p>\n<p class=\"tag-border-left\"> HAPPENING THIS WEEKEND- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The annual jiu-jitsu tournament, the Abu Dhabi Extreme Championship, is <\/strong><strong>returning to Abu Dhabi at the Mubadala Arena on 2 August, <\/strong><a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b47h0o5-abu-dhabi-extreme-returns-its-starting-point\" 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>#2- Abu Dhabi will play host to a big night for mixed martial arts fans <\/strong>on 3 August at Etihad arena. The UFC Fight Night will see the return of MMA champion Nick Diaz, who has been out of the limelight since 2021, as he goes head to head with Tony Ferguson. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also set to clash: <\/strong>Former flyweight champion Deiveson Figueiredo will face bantamweight title challenger Marlon Vera, while world number 2 bantamweight contender Cory Sandhagen will headline against Umar Nurmagomedov.<\/p>\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#1- Hedge fund owner Paul Marshall could acquire The Spectator Magazine from RedBird <\/strong><strong>IMI as soon as this month<\/strong>, with talks reportedly progressing well, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/a1b62d54-7402-4adf-9347-098e641634df\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports citing three people with knowledge of the matter. Marshall\u2019s bid values the publication at USD 100 mn, one of the people said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Telegraph and The Spectator will likely be sold separately: <\/strong>If Marshall\u2019s acquisition of The Spectator goes through, it would remove the magazine from the Telegraph bidding, where a second source suggests he is unlikely to be the final buyer.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember, there are still a lot of interested bidders: <\/strong>Interest in the two papers has \u201cremained extremely strong,\u201d a RedBird IMI spokesperson said in June, stating that the firm has been in talks with \u201cseveral interested parties.\u201d DMGT, which owns the Daily Mail, Belgian Group Mediahuis, and National World are among the bidders vying for the two papers. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>RedBird IMI wants to recoup its losses:<\/strong> RedBird IMI, a JV between Deputy Prime Minister Sheikh Mansour bin Zayed Al Nahyan's International Media Investments and RedBird Capital Partners, is looking to sell the papers to recoup the GBP 600 mn invested last year to acquire the assets, before the takeover bid fell through. The Barclay Family is also expected to fail to repay the debt after the Telegraph incurred a GBP 240 mn loss in 2023, Bloomberg reports.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#2- Adia eyes minority stake in Indian loan provider:<\/strong> Abu Dhabi Investment Authority (Adia) has entered talks with EQT Baring Private Equity to buy a 10% stake in Indian education loan provider <a target=\"_blank\" href=\"https:\/\/www.hdfccredila.com\/\" style=\"\" rel=\"noopener\">HDFC Credila Financial Services<\/a>, <a target=\"_blank\" href=\"https:\/\/www.moneycontrol.com\/news\/business\/banks\/adia-may-buy-10-of-hdfc-credila-from-eqt-baring-12783529.html\" style=\"\" rel=\"noopener\">Moneycontrol<\/a> reports, citing a person familiar with the matter. The sale could come as part of a wider fundraising round or a secondary transaction, the source said. Discussions with the sovereign fund have resumed after initial talks \u2014 in which Adia reportedly took part as part of a consortium \u2014 stalled, with EQT later acquiring a 72% stake in Credila in March.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#3- GCC-Indonesia trade talks kick off:<\/strong> GCC Secretary Jasem Mohamed Albudaiwi and Indonesian Trade Minister Zulkifli Hasan kicked off negotiations for a trade agreement on Wednesday in Riyadh, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b4geich-gcc-indonesia-launches-free-trade-agreement-talks\" style=\"\" rel=\"noopener\">Wam<\/a> writes. The first round of talks are slated to start this year, with plans to wrap talks within the next two years.<\/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- Gross bank assets fell 0.2% m-o-m to AED 4.287 tn at the end of May<\/strong>, according to the Central Bank of the UAE\u2019s (CBUAE) latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/103.pdf\" style=\"\" rel=\"noopener\">monetary and banking developments report (pdf)<\/a>. Gross credit grew a marginal 0.7% m-o-m to AED 2.078 tn, driven by a 0.7% increase in domestic credit and a 0.9% rise in foreign credit.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The increase in domestic credit was fueled by increased lending mostly to the private sector,<\/strong> which saw a 1.2% m-o-m increase, and a 0.6% increase in lending to the public sector. This growth offset the reductions of 2.2% in credit to the government and 3.4% to non-banking financial institutions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Total bank deposits fell 1.4% m-o-m to AED 2.678 tn at the end of May<\/strong>, propelled by a 1.2% m-o-m decrease in resident deposits and a 4.6% decrease in non-resident deposits, according to the report. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The CBUAE\u2019s total foreign assets rose some AED 16.44 bn to AED 766.73 bn at the end of May<\/strong>, according to the bank\u2019s latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/104.pdf\" style=\"\" rel=\"noopener\">data (pdf)<\/a>.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>#2- Sharjah saw the value of real estate <\/strong><strong>transactions soar 35.6% y-o-y in 1H 2024 to over AED 18.2 bn<\/strong>, according to the <a target=\"_blank\" href=\"https:\/\/www.sgmb.ae\/en\/media-centre\/news\/30\/7\/2024\/182-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AF%D8%B1%D9%87%D9%85-%D8%A7%D9%84%D8%AA%D8%AF%D8%A7%D9%88%D9%84%D8%A7%D8%AA-%D8%A7%D9%84%D8%B9%D9%82%D8%A7%D8%B1%D9%8A%D8%A9-%D9%81%D9%8A-%D8%A7%D9%84%D8%B4%D8%A7%D8%B1%D9%82%D8%A9-%D9%84%D9%84%D9%86%D8%B5%D9%81-%D8%A7%D9%84%D8%A3%D9%88%D9%84-%D9%85%D9%86-2024.aspx#page=1\" style=\"\" rel=\"noopener\">Sharjah Real Estate Registration Department<\/a>. This growth was driven by a 64% y-o-y surge in sales to over 10.8k, marking the highest sales volume since 2012.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The value of sales increased 13.8% y-o-y to AED 7 bn<\/strong>, according to a separate <a target=\"_blank\" href=\"https:\/\/x.com\/shjrerd\/status\/1818609834003976355\/photo\/1\" style=\"\" rel=\"noopener\">post<\/a> from the real estate department. Residential transactions accounted for the lion\u2019s share \u2014 81.5% \u2014 of total transactions, with UAE citizens buying up most of the units on offer with a total AED 8.8 bn invested, followed by expats who offered up some AED 4.8 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Ras Al Khaimah Chamber of Commerce member exports hit AED 4.18 bn in 1H 2024<\/strong>, with 15.2k certificates of origin issued, <a target=\"_blank\" href=\"https:\/\/www.albayan.ae\/economy\/uae\/2024-08-01-1.4912848#google_vignette\" style=\"\" rel=\"noopener\">Albayan<\/a> reports. Top recipients of exports were Saudi Arabia, Oman, Kuwait, and Egypt, while the top goods exported were live animals and animal products (43.5%), followed by plant products (27.6%).<\/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>MEANWHILE- Are you planning to be in Egypt on 24 September? <\/strong>You may be interested in attending our 2024 Enterprise Finance Forum. Seating is strictly limited at our flagship, invitation-only forum for C-suite executives and other senior leaders. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why attend? We\u2019re in the early days of a generational realignment of power in our <\/strong><strong>industry<\/strong> \u2014 in our region and beyond \u2014 and on the cusp of <strong>the biggest intergenerational transfer of wealth the world has ever seen<\/strong>. With that as the backdrop, we\u2019re going to take stock of where we stand six months after the float of the EGP and ask what\u2019s next for finance in Egypt and the wider region. Among the questions we\u2019ll be asking:<\/p>\n<ul>\n<li>What roles will Egypt, Saudi and the UAE play in the regional industry going forward? <\/li>\n<li>What are foreign investors looking for right now? <\/li>\n<li>Is real estate the only asset class in Egypt?<\/li>\n<li>What does the next generation of leaders think as they take over established family businesses? <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Do you want to request an invitation? <\/strong>Tap or click the image below. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"http:\/\/finance2024.enterprise.news\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/272.jpg?ssl=1\"><\/a> <\/p>\n<p class=\"tag-border-left\"> THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another market sell-off in the US is dominating headlines<\/strong> in the foreign business press, as more disappointing earnings and weak jobs and manufacturing data spurred volatility in major indices. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The tech-heavy Nasdaq closed down 2.3%<\/strong>, with every Magnificent Seven stock except Meta ending lower. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the flipside, it was a good day for bonds<\/strong>, with yields on the benchmark 10-year treasury falling 4% for the first time in six months, as investors clinged on to the hopes of a September rate cut. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Several major Big Tech firms posted their 2Q financial results: <\/strong><\/p>\n<ul>\n<li><strong>Apple\u2019s revenues inched up 5% y-o-y in 2Q 2024<\/strong>, while sales fell slower than analysts expected \u2014 though markedly so in China. The iPhone maker expects the upcoming AI upgrades set to launch with its iPhone 16 to spur sales in the final quarter of the year. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-08-01\/apple-sales-top-estimates-after-new-ipads-help-bolster-results?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/apple-revenue-returns-growth-iphone-sales-top-expectations-2024-08-01\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/li>\n<li><strong>Amazon saw sales growth slow in 2Q 2024<\/strong> amid cautious consumer spending, sending its shares down almost 8% despite an increase in cloud sales. A boost in AI spending also fueled market jitters around the commercial viability of AI. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/amazon-projects-quarterly-revenue-below-estimates-2024-08-01\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/57d9bbed-e2ce-4be7-a6df-074e8f1dbc9c\" style=\"\" rel=\"noopener\">FT<\/a>) <\/li>\n<li><strong>The same jitters were fueled further by a conservative sales forecast from chip designer Arm Holdings<\/strong>, which sent US chip stocks falling 7% in their worst day since 2020. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/chip-index-collapses-8-arm-punctures-ai-optimism-2024-08-01\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Intel confirmed plans to cut 15% of its workforce and said it will suspend dividends as it looks to address its losses<\/strong>, sending its shares down 20% in extended trading and setting it up for USD 24 bn wiped off its market value. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/intel-forecasts-third-quarter-revenue-below-estimates-cut-15-jobs-2024-08-01\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ON THE MACRO SIDE- The Bank of England cut interest rates by 25 bps for the first time in over four years<\/strong> on the back of easing inflation. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/6c0d1fe5-ee7e-412e-a72d-49c1ba05d883\" style=\"\" rel=\"noopener\">FT<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND IN POLITICS- Russia and the US saw the largest prisoner swap since the Cold War take place<\/strong>, with 16 prisoners \u2014 including Wall Street Journal reporter Evan Gershkovich \u2014 exchanged for Russian prisoners. (<a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/russia\/evan-gershkovich-free-cde745b3\" style=\"\" rel=\"noopener\">WSJ<\/a>)<strong> <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CLOSER TO HOME- Hezbollah said its war with Israel has entered a \u201cnew phase\u201d <\/strong>following the back-to-back assassinations of senior commander Fuad Shukr and Hamas\u2019 top political leader. Israel also yesterday confirmed it killed Hamas military commander Mohammed Deif. (<a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/article\/2024\/aug\/01\/funeral-for-hamas-political-leader-haniyeh-held-in-tehran-amid-security-fears\" style=\"\" rel=\"noopener\">The Guardian<\/a>)<\/p>\n<p class=\"tag-border-left\">OLYMPICS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s day seven of the Olympics<\/strong>. The biggest events to watch out for: the<strong> first track final <\/strong>will take place with the men\u2019s 10km race, while the <strong>women\u2019s 5km and 100m<\/strong> get underway<strong>; <\/strong>the grueling<strong> decathlon <\/strong>kicks off; and more <strong>athletics<\/strong> and <strong>swimming<\/strong> finals close out the day. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Highlights from yesterday:<\/strong> <strong>Andy Murray <\/strong>marked the end of his Tennis career with a defeat in the doubles\u2019 quarter-finals, <strong>Simone Biles <\/strong>snagged another gold in the all-around finals; and the US\u2019 <strong>Katie Ledecky<\/strong> is now the most decorated female Olympic swimmer in history, <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The medal standings now at the Paris Olympics:<\/strong><\/p>\n<ul>\n<li>China (11 gold, 24 overall)<\/li>\n<li>United States (9 gold, 37 overall)<\/li>\n<li>France (8 gold, 27 overall)<\/li>\n<li>Australia (7 gold, 16 overall)<\/li>\n<li>Japan (8 gold, 16 overall)<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to see when your favorite sport is on?<\/strong> <a target=\"_blank\" href=\"https:\/\/olympics.com\/en\/paris-2024\/schedule\/29-july\" style=\"\" rel=\"noopener\">Check out the official schedule here<\/a>.<\/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 class=\"tag-border-left\"> MARKET WATCH- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Opec+ kept its oil policy unchanged <\/strong>during an online meeting yesterday, according to a <a target=\"_blank\" href=\"https:\/\/www.opec.org\/opec_web\/en\/press_room\/7359.htm\" style=\"\" rel=\"noopener\">statement<\/a>. The cartel <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/54d158d4-5a72-498f-9604-196685f72a65\/%253cmark%253eopec%253c%2Fmark%253e%2B-extends-supply-cuts,-granting-the-uae-a-higher-production-quota-for-2025\" style=\"\" rel=\"noopener\">left in place<\/a> current production cuts of 3.66 mn barrels per day (bbl \/ d) until the end of this September, before beginning to phase out the cuts of 2.2 mn bbl \/ d over the course of a year from October 2024 to September 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/uaeformar.enterprise.news\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/13.jpg?ssl=1\"><\/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        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class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/02\/the-uae-took-to-market-nearly-34-of-esg-issuances-in-1h-2024\/\">\r\n                            The UAE took to market nearly 34% of ESG issuances in 1H 2024                        <\/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\/08\/02\/the-uae-took-to-market-nearly-34-of-esg-issuances-in-1h-2024\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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alt=\"\" data-attachment-id=\"94450\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/02\/the-uae-took-to-market-nearly-34-of-esg-issuances-in-1h-2024\/389-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/389.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"389.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/389.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/389.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-94449\" class=\"content-area-description single-story post-94449 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt-watch tag-enterpriseam-uae tag-equitativa tag-fitch-ratings tag-sukuk 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\/8\/.e29c1bef-7b6f-4495-a106-509cc98602cc.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The UAE was the second biggest issuer of ESG sukuk in 1H 2024<\/strong>, accounting for 33.8% of issuances and trailing only behind Saudi Arabia, which took to market 43% of issuances, according to the <a target=\"_blank\" href=\"https:\/\/www.fitchratings.com\/research\/non-bank-financial-institutions\/esg-sukuk-issuance-slowdown-in-3q24-promising-prospects-ahead-30-07-2024\" style=\"\" rel=\"noopener\">latest report<\/a> by Fitch Ratings. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">The global stocktake: <\/strong><span style=\"background-color: transparent;\">Outstanding global ESG sukuk surged 41% y-o-y to USD 43 bn in 1H 2024,The GCC region accounted for 43% of issuances, with USD 18.5 bn in outstanding ESG sukuk.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The highlights: <\/strong>Fitch noted Emirates Islamic Bank\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/33f95ae1-9b4e-46ab-bfe1-2dc56d90d653\/%253cmark%253eemirates-islamic%253c%2Fmark%253e-lists-debut-sustainability-linked-usd-750-mn-sukuk-lists-on-nasdaq\" style=\"\" rel=\"noopener\">USD 750 mn green sukuk<\/a> and Aldar Properties\u2019 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/fdd118ff-c279-4c44-97dc-87c7c57a6c9a\/aldar-properties-launches-usd-500-mn-green%253cmark%253e-sukuk%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">USD 500 mn green sukuk<\/a> among the biggest ESG issuances taking place during the period. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ESG bonds fell slightly during 1H:<\/strong> In the core Islamic finance markets, which include the GCC, Malaysia, Indonesia, Turkey, and Pakistan, ESG bonds fell 34% y-o-y to USD 7.8 bn during the first six months of 2024. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead:<\/strong> Fitch anticipates a slowdown in issuances during 3Q 2024 amid the seasonal lull. However, the nascent market is expected to pick up in 4Q 2024, driven by \u201cgovernments' increasing commitment to sustainability and issuers\u2019 aims to meet ESG mandates and funding diversification plans,\u201d the ratings agency <a target=\"_blank\" href=\"https:\/\/www.fitchratings.com\/research\/non-bank-financial-institutions\/global-esg-sukuk-outlook-dashboard-1h24-30-07-2024\" style=\"\" rel=\"noopener\">said<\/a>. Furthermore, the overall debt market is expected to grow by the end of the year and early 2025 on the back of lower oil prices and the anticipated interest rate cuts. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More issuances incoming: <\/strong>Qatar Central Bank\u2019s new ESG and sustainability strategy, coupled with existing frameworks in the UAE, Saudi Arabia, Oman, and Malaysia, is expected to further ramp up ESG debt markets. The promising medium-term potential for ESG debt issuance is fuelled by governments\u2019 increasing commitment to sustainability, and issuers\u2019 aims to meet ESG mandates and funding diversification plans,\u201d Bashar Al Natoor, Global Head of Islamic Finance at Fitch Ratings said.<\/p>\n<p class=\"tag-border-left\">MORE DEBT NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Equitativa redeems USD 19.27 mn sukuk:<\/strong> Equitativa, the manager of Emirates NBD\u2019s real estate investment trust (REIT), has redeemed USD 19.27 mn of Emirates REIT\u2019s USD 380 mn sukuk certificates yesterday, according to a <a target=\"_blank\" href=\"https:\/\/www.nasdaqdubai.com\/trading\/disclosures\/8304308e-a30b-4175-b0ee-70a35410e641\" style=\"\" rel=\"noopener\">bourse disclosure<\/a>. Equitativa was able to redeem the sukuk following the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ff0d275e-e25a-450d-ad43-93a98685c446\/adia-eyes-indian-biopharma-firm#:~:text=Equitativa%20sells%20Trident,in%20its%20portfolio.\" style=\"\" rel=\"noopener\">sale of Trident Grand Mall<\/a> last month. Its outstanding sukuk now stand at USD 304.73 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>The REIT recently said it was <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/islamic-economy\/islamic-finance\/emirates-reit-should-look-at-debt-refinance-or-asset-sale-al-ramz-bi5wz0tk\" style=\"\" rel=\"noopener\">exercising<\/a> a one-year extension option on its sukuk, with sukuk documents showing that it must reduce the outstanding balance to USD 230 mn by 12 December. The REIT had previously redeemed USD 56 mn of the sukuk in <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/118.pdf\" style=\"\" rel=\"noopener\">March 2023 (pdf)<\/a>. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt-watch\/\">DEBT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/equitativa\/\">Equitativa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/fitch-ratings\/\">Fitch Ratings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/sukuk\/\">Sukuk<\/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=\"94451\" 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=\"94451\">\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\">INVESTMENT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/02\/national-pulse-boosts-aleta-planets-regional-expansion\/\">\r\n                            National Pulse boosts Aleta Planet\u2019s regional expansion                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/02\/national-pulse-boosts-aleta-planets-regional-expansion\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2024\/08\/02\/national-pulse-boosts-aleta-planets-regional-expansion\/')\">\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\/08\/02\/national-pulse-boosts-aleta-planets-regional-expansion\/\">\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=National Pulse boosts Aleta Planet\u2019s regional expansion&url=https:\/\/enterpriseam.com\/uae\/2024\/08\/02\/national-pulse-boosts-aleta-planets-regional-expansion\/\">\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\/08\/02\/national-pulse-boosts-aleta-planets-regional-expansion\/&title=National Pulse boosts Aleta Planet\u2019s regional expansion\">\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=National+Pulse+boosts+Aleta+Planet%E2%80%99s+regional+expansion+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F08%2F02%2Fnational-pulse-boosts-aleta-planets-regional-expansion%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\/08\/02\/national-pulse-boosts-aleta-planets-regional-expansion\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1344.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"94452\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/02\/national-pulse-boosts-aleta-planets-regional-expansion\/1344-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1344.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1344.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1344.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1344.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-94451\" class=\"content-area-description single-story post-94451 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-enterpriseam-uae tag-fintech tag-investment tag-investment-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.5d61dc47-a591-4bfe-94be-37c22002d868.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>National Pulse backs Singapore\u2019s Aleta Planet<\/strong>: Dubai-based strategic management firm <a target=\"_blank\" href=\"https:\/\/www.nationalpulse.ae\/\" style=\"\" rel=\"noopener\">National Pulse<\/a> has made an undisclosed investment in Singaporean payment solutions provider <a target=\"_blank\" href=\"https:\/\/aletaplanet.com\/\" style=\"\" rel=\"noopener\">Aleta Planet<\/a>, <a target=\"_blank\" href=\"https:\/\/gulfbusiness.com\/national-pulse-invests-in-aleta-planet\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. The investment will allow Aleta Planet to facilitate payments for National Pulse\u2019s portfolio companies, and in turn expand its cross-border payment services in the region, Aleta\u2019s founder and chairman Ryan Gwee said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">The fintech expects to triple the amount of annual payments it facilitates from the current USD 2 bn with access to National Pulse\u2019s portfolio companies<\/strong><span style=\"background-color: transparent;\">, Gwee added.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The two companies will also set up a joint venture<\/strong>, initially targeting the agritrade and logistics sectors, according to Aleta\u2019s Chairman Ryan Gwee. The ownership breakdown and investment details of the JV was not disclosed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>National Pulse?<\/strong> The project management firm focuses on developing technology-driven businesses and operates through various subsidiaries, joint ventures, and partners, according to the company\u2019s website. Their portfolio includes companies like <a target=\"_blank\" href=\"https:\/\/metarabia.com\/\" style=\"\" rel=\"noopener\">Metarabia<\/a>, <a target=\"_blank\" href=\"https:\/\/www.alsafwaconsult.ae\/\" style=\"\" rel=\"noopener\">Al Safwa Consultancy<\/a>, <a target=\"_blank\" href=\"https:\/\/www.rcpsp.com\/\" style=\"\" rel=\"noopener\">Royal Cloud<\/a>, <a target=\"_blank\" href=\"https:\/\/www.upn.ae\/\" style=\"\" rel=\"noopener\">Unified Payment Network<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.ictlabs.net\/\" style=\"\" rel=\"noopener\">ICTLabs Technologies<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Aleta Planet:<\/strong> Established in 2014, Aleta Planet offers payment solutions designed to facilitate secure transactions for merchants, card issuers, and B2B payments, with a focus on helping Chinese companies expand internationally. Aleta operates in Singapore, Hong Kong, Dubai, Australia, and Malaysia.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/fintech\/\">fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment\/\">investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"94453 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"94453\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/02\/94453-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-94453\" class=\"content-area-description single-story post-94453 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.mashreq.com\/en\/uae\/neo\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1087.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"94454\" 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=\"94454\">\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\">MANUFACTURING<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/02\/dubai-industrial-city-to-get-new-aed-293-mn-medical-manufacturing-facility\/\">\r\n                            Ozon Pharma to set up AED 293 mn medical manufacturing facility in Dubai                        <\/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\/08\/02\/dubai-industrial-city-to-get-new-aed-293-mn-medical-manufacturing-facility\/\" 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\/08\/02\/dubai-industrial-city-to-get-new-aed-293-mn-medical-manufacturing-facility\/')\">\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\/08\/02\/dubai-industrial-city-to-get-new-aed-293-mn-medical-manufacturing-facility\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Dubai Industrial City to get new AED 293 mn medical manufacturing facility&url=https:\/\/enterpriseam.com\/uae\/2024\/08\/02\/dubai-industrial-city-to-get-new-aed-293-mn-medical-manufacturing-facility\/\">\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\/08\/02\/dubai-industrial-city-to-get-new-aed-293-mn-medical-manufacturing-facility\/&title=Dubai Industrial City to get new AED 293 mn medical manufacturing facility\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Dubai+Industrial+City+to+get+new+AED+293+mn+medical+manufacturing+facility+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F08%2F02%2Fdubai-industrial-city-to-get-new-aed-293-mn-medical-manufacturing-facility%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\/08\/02\/dubai-industrial-city-to-get-new-aed-293-mn-medical-manufacturing-facility\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/2572.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"94455\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/02\/dubai-industrial-city-to-get-new-aed-293-mn-medical-manufacturing-facility\/2572-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/2572.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2572.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/2572.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/2572.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-94454\" class=\"content-area-description single-story post-94454 post type-post status-publish format-standard has-post-thumbnail hentry category-manufacturing tag-enterpriseam-uae tag-healthcare tag-investment tag-manufacturing tag-tecom 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\/8\/.fa39f2fd-1d02-491f-8b64-32d4c720e911.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Dubai to get new medical manufacturing facility: <\/strong>Dubai business park operator Tecom Group signed a Musataha land lease agreement with pharma company Ozon Pharma to set up a AED 293 mn medical manufacturing facility at Dubai Industrial City, in a bid to secure a consistent supply of high-quality medicines, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b4geiff-ozon-pharmaceuticals-develop-aed293-million\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The agreement was inked on the sidelines of Innoprom 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Musataha? <\/strong><span style=\"background-color: transparent;\">Musataha agreements grant investors the right to develop and own a plot of land and operate a project and maintain it for a long-term period, with ownership transferring to the government once the agreement elapses.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the facility:<\/strong> The 150.7k sqft facility will comprise two phases, slated to operate at full capacity by next year. The first of the two \u2014 costing some AED 110 mn in investments \u2014 will produce over 300 mn tablets annually, and will employ some 100 specialists. <\/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\/healthcare\/\">Healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment\/\">investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/manufacturing\/\">MANUFACTURING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/tecom\/\">Tecom<\/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=\"94456\" 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=\"94456\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/02\/e-adnh-alpha-dhabi-and-more-report-2q-2024-earnings\/\">\r\n                            e&amp;, ADNH, Alpha Dhabi, and more report 2Q 2024 earnings                        <\/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\/08\/02\/e-adnh-alpha-dhabi-and-more-report-2q-2024-earnings\/\" 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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saw its net income after federal royalty inch up 25% y-o-y to a record AED 3.17 <\/strong><strong>bn in 2Q 2024, <\/strong>driven by a higher share of results from its non-controlling interests, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/76.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. The group\u2019s revenues climbed 4% y-o-y to AED 14.09 bn, aided by growth across its domestic and international operations. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">In 1H 2024, <\/strong><span style=\"background-color: transparent;\">e&amp; saw its net income increase 17% y-o-y to AED 5.49 bn amid growth across both its telecom and digital verticals, with revenues inching up 6% y-o-y to AED 28.31 bn. The recently rebranded <\/span><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/959e46be-7a22-42fc-8fd6-ad22184e07a7\/techos-are-the-new-telcos\" rel=\"noopener\">\u201ctecho\u201d<\/a><span style=\"background-color: transparent;\"> also saw its aggregate subscribers rise 6% y-o-y to 175 mn users, on the back of subscriber growth in Egypt, Pakistan, UAE and West Africa.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dividends: <\/strong>The telecoms company approved interim dividends of 41.5 fils per share for 1H 2024.<\/p>\n<p class=\"tag-border-left\"> FERTIGLOBE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fertiglobe\u2019s bottom line falls in 2Q: <\/strong>Fertiglobe \u2014 a UAE-headquartered urea and ammonia exporter and MENA\u2019s largest producer of nitrogen fertilizers \u2014 reported an 81.9% y-o-y drop in net income attributable to shareholders in 2Q 2024 to USD 42.7 mn, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/87.pdf\" style=\"\" rel=\"noopener\">financial statement (pdf)<\/a>. Its revenues were down 10.1% y-o-y to USD 495.7 mn during the period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gas supply shortages in Egypt drove a decline in sales: <\/strong>Fertiglobe said its own-produced sales volumes were down 2% y-o-y in 2Q 2024 due to a 5% decline in urea volumes during the period, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/93.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. The drop offset a 12% rise in ammonia sales volumes during the quarter. Excluding the impact of gas supply shortages in Egypt, sales volumes would have been up 8.1% y-o-y in 2Q 2024 and 6.6% y-o-y in 1H 2024, according to the release.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cCautious\u201d buying of urea during 2Q: <\/strong>Fertiglobe said nitrogen prices took a hit during the period due to \u201cdelayed demand, cautious buying behavior and reduced urea imports from India, partially offset by some supply disruptions towards the end of the quarter.\u201d The impact came despite a rise in natural gas prices and constant grain prices during the period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For the year to date: <\/strong>Fertiglobe\u2019s net income fell 39% y-o-y to USD 130.6 mn y-o-y during 1H 2024, while revenues were down 16.7% y-o-y during the period to USD 1.05 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Adnoc\u2019s acquisition of a stake in the firm is on track: <\/strong>Fertiglobe said regulatory approvals for <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/c1b11e94-533d-4af4-984c-ed48fd056c83\" style=\"\" rel=\"noopener\">Adnoc\u2019s acquisition<\/a> of OCI Global\u2019s 50% stake in the company was \u201cprogressing well,\u201d expecting the acquisition to close this year, according to the release.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The outlook for the market:<\/strong> \u201cThe short-term outlook for ammonia and urea is favorable, driven by tight markets, while the medium to long-term outlook continues to be supported by improving demand from new and existing applications coupled with limited supply additions,\u201d Fertiglobe said.<\/p>\n<p class=\"tag-border-left\">ABU DHABI NATIONAL HOTELS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi National Hotels (ADNH) Group\u2019s bottom line grew 41% y-o-y to AED 129.4 mn <\/strong><strong>in 2Q 2024, <\/strong>according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/77.pdf\" style=\"\" rel=\"noopener\">financial statements (pdf)<\/a>. The group\u2019s consolidated revenue doubled to AED 772.1 mn during the period, driven by improved performance across the company\u2019s hotel and transport segments, in addition to increased revenues from its catering business following the acquisition of its remaining stake in its JV with Compass Group, ADNH Compass, for AED 227 mn in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/a69bd96b-604b-4972-b19f-0d5ee2dcc965\/%253cmark%253eabu%253c%2Fmark%253e%253cmark%253e-dhabi%253c%2Fmark%253e%253cmark%253e-national%253c%2Fmark%253e%253cmark%253e-hotels%253c%2Fmark%253e-now-fully-owns-its-jv-with-compass-group\" style=\"\" rel=\"noopener\">March<\/a>, according to a separate <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/78.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a six-month basis,<\/strong> ADNH Group\u2019s bottom line jumped 381% y-o-y to AED 1.15 bn in 1H 2024, padded by the recognition of the equity interest gain of AED 916 mn from the acquisition of ADNH Compass, as well as an AED 29.7 mn one-off gain from the sale of a penthouse in 2024. Revenue increased 52% y-o-y to AED 1.23 bn during the period, primarily driven by the company\u2019s hotel segment.<\/p>\n<p class=\"tag-border-left\"> ALPHA DHABI-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investment holding company Alpha Dhabi saw its net income attributable to shareholders fall 59% y-o-y to AED <\/strong><strong>937.6 mn<\/strong> in 2Q 2024, according to the firm\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/86.pdf\" style=\"\" rel=\"noopener\">financial statements (pdf)<\/a>. The company\u2019s revenues stood at AED 15.12 bn during the quarter, marking a 61% y-o-y increase. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a 1H basis:<\/strong> Alpha Dhabi\u2019s bottom line halved to AED 4.33 bn, while net income from operations increased 92% y-o-y to AED 5.1 bn, according to a separate <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/88.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Revenues increased 32% y-o-y, reaching AED 29.3 bn. Alpha Dhabi\u2019s net income declined in 2024 due to the derecognition of PureHealth\u2019s assets on its balance sheet and the introduction of corporate income tax. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The first half demonstrated robust performance across all segments<\/strong>, with industrials making up 41% to revenues, real estate 30%, and construction 17%. <\/p>\n<p class=\"tag-border-left\">NCTH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>NCTH in the red:<\/strong> The National Corporation for Tourism and Hotels (NCTH)\u2019s net income decreased 36% y-o-y to AED 10.6 mn in 2Q 2024, according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/91.pdf\" style=\"\" rel=\"noopener\">financials (pdf)<\/a>. The company\u2019s revenues fell 0.2% y-o-y to AED 163.4 mn. NCTH\u2019s bottom line reached AED 30.2 mn in 1H 2024, marking a 15.8% y-o-y decease, while revenues inched down 0.4% y-o-y to AED 335.1 mn, according to a separate <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/92.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>.<\/p>\n<p class=\"tag-border-left\">FUJAIRAH CEMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fujairah Cement Industries\u2019 net losses deepened 40% y-o-y to AED 50.3 mn in 2Q 2024<\/strong>, compared to a net loss of AED 35.7 mn during the same period last year, according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/94.pdf\" style=\"\" rel=\"noopener\">financial statements (pdf)<\/a>. The company saw its revenues fall 99% y-o-y to AED 504k in 2Q 2024. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company also penciled an AED 88.6 mn net loss in 1H<\/strong>, deepening 47% y-o-y compared to the corresponding period. The company attributed losses to an increase in fuel and energy costs due to rising inflation and geopolitical tensions, and a weak clinker market, according to a separate <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/106.pdf\" style=\"\" rel=\"noopener\">discussion report (pdf)<\/a>.<\/p>\n<p class=\"tag-border-left\"> UNION PROPERTIES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai-based Union Properties saw its net income increase 238% y-o-y to AED 18.3 mn in <\/strong><strong>2Q 2024,<\/strong> according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/123.pdf\" style=\"\" rel=\"noopener\">financials (pdf)<\/a>. Union\u2019s revenues from customer contracts rose 8% y-o-y to AED 127.7 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a six-month basis, Union\u2019s net income rose 93% y-o-y to AED 34.8 mn<\/strong>, while its revenues from customer contracts increased 10% y-o-y to AED 265.8 mn in 1H 2024. The growth came on the back of \u201crobust operational strategies and effective cost management,\u201d the developer said in its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/124.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WATCH THIS SPACE- Union Properties is mulling the acquisition of an outsourcing company <\/strong>through one of its subsidiaries, the developer said. The purchase is expected to \u201cenhance the value of the company\u2019s assets and improve its profitability.\u201d<\/p>\n<p class=\"tag-border-left\"> WAHA CAPITAL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investment management firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.wahacapital.com\/\" style=\"\" rel=\"noopener\">Waha Capital<\/a><\/strong><strong> incurred AED 11.7 mn in losses in 2Q 2024,<\/strong> falling 93% from a net income of AED 170 mn during the same period last year, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/111.pdf\" style=\"\" rel=\"noopener\">financials (pdf)<\/a>. The company\u2019s revenues from the sale of goods and services rose 8% y-o-y to AED 38.7 mn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In 1H 2024, the company posted AED 269.4 mn in net income,<\/strong> down 18% y-o-y, while its revenue from sales rose 8% y-o-y to AED 77.8 mn. Waha Capital\u2019s net operating income rose 6% y-o-y to AED 529 mn in 1H 2024, driven by \u201can increase in fee income, strong inflows of third-party capital into Waha Investment and supported by the robust performance of the private investments business,\u201d the company said in its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/112.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi-national-hotels-company\/\">Abu Dhabi National Hotels Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/e\/\">e&amp;<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/union-properties\/\">Union Properties<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/waha-capital\/\">Waha Capital<\/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=\"94458\" 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=\"94458\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/02\/sanad-to-provide-mro-services-on-airbus-engines\/\">\r\n                            Sanad to provide MRO services on Airbus engines                        <\/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\/08\/02\/sanad-to-provide-mro-services-on-airbus-engines\/\" 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\/08\/02\/sanad-to-provide-mro-services-on-airbus-engines\/')\">\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\/08\/02\/sanad-to-provide-mro-services-on-airbus-engines\/\">\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=Sanad to provide MRO services on Airbus engines&url=https:\/\/enterpriseam.com\/uae\/2024\/08\/02\/sanad-to-provide-mro-services-on-airbus-engines\/\">\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\/08\/02\/sanad-to-provide-mro-services-on-airbus-engines\/&title=Sanad to provide MRO services on Airbus engines\">\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=Sanad+to+provide+MRO+services+on+Airbus+engines+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F08%2F02%2Fsanad-to-provide-mro-services-on-airbus-engines%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\/08\/02\/sanad-to-provide-mro-services-on-airbus-engines\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/79.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"94459\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/02\/sanad-to-provide-mro-services-on-airbus-engines\/79-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/79.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"79.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/79.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/79.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-94458\" class=\"content-area-description single-story post-94458 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-banking tag-central-bank-of-the-uae tag-enterpriseam-uae tag-ipo tag-judiciary tag-rakbank tag-real-estate tag-tech 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\/8\/.63c30f80-c70d-4662-891d-ce6b689b6294.mp3\"><\/audio><\/figure><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>Sanad + Airbus form MRO partnership:<\/strong> Sovereign investment fund Mubadala\u2019s aerospace engineering and leasing subsidiary Sanad is partnering with Airbus to provide maintenance, repair, and overhaul (MRO) for Airbus engines, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b4ft3gh-sanad-signs-partnership-agreement-with-airbus\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The partnership was signed on the sidelines of the Farnborough International Airshow. Under the partnership, Sanad will provide MRO services for Airbus single aisle aircraft engines, including A320 and A321, as well as wide-body aircrafts including the A330. .<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"background-color: transparent;\">ENERGY-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A potential new SAF venture between Masdar and TotalEnergies: <\/strong>UAE\u2019s renewables giant Masdar and French oil major TotalEnergies signed an agreement to explore the feasibility of a sustainable aviation fuel (SAF) project using methanol produced from commercial green hydrogen, according to a <a target=\"_blank\" href=\"https:\/\/masdar.ae\/en\/news\/newsroom\/masdar-and-totalenergies-to-develop-a-commercial-green-hydrogen\" style=\"\" rel=\"noopener\">statement<\/a> last week. Details related to the costs of the potential project were not disclosed.<\/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 project will focus on decarbonizing \u201chard to abate, emission intensive sectors\u201d including aviation and maritime industries, according to the statement. It will use green hydrogen generated from renewable-powered electrolysis, and will also capture CO2 from an industrial source to be used as a feedstock. <\/p>\n<p class=\"tag-border-left\">IPO-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi-backed US chipmaker to go public: <\/strong>Abu Dhabi-backed Cerebras Systems, an AI-focused chipmaker startup, is planning to go public in the United States after filing for the potential IPO with the US Securities and Exchange Commission (SEC), the startup <a target=\"_blank\" href=\"https:\/\/x.com\/CerebrasSystems\/status\/1818995964222505283\" style=\"\" rel=\"noopener\">said<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> In <a target=\"_blank\" href=\"https:\/\/www.cerebras.net\/press-release\/cerebras-systems-raises-250m-in-funding-for-over-4b-valuation-to-advance-the-future-of-artificial-intelligence-compute\/\" style=\"\" rel=\"noopener\">2021<\/a>, the Silicon Valley startup secured USD 250 mn in a series F funding round that saw the participation of Abu Dhabi Growth Fund and G42, valuing Cerebras at USD 4 bn. Additionally, G42 inked a <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/cerebras-systems-signs-100-mln-ai-supercomputer-deal-with-uaes-g42-2023-07-20\/\" style=\"\" rel=\"noopener\">USD 100 mn agreement<\/a> with Cerebras last year to deliver nine AI supercomputers, three of which will be purchased by the Emirati AI firm.<\/p>\n<p class=\"tag-border-left\">BANKING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>RAKBank rated A: <\/strong>Capital Intelligence affirmed the National Bank of Ras Al Khaimah\u2019s (RAKBank) A long term foreign currency rating and an A1 short term foreign currency rating with a stable outlook, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/122.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf).<\/a> <\/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>Samana Developers unveils Dubailand project:<\/strong> Dubai-based <a target=\"_blank\" href=\"https:\/\/samana-online.samanadevelopers.com\/\" style=\"\" rel=\"noopener\">Samana Developers<\/a> has launched Samana Avenue, a new \u201caffordable luxury\u201d development in Dubailand\u2019s Dubai Land Residence Complex, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/dubais-samana-developers-launches-samana-avenue-project-in-dubailand-qa04q0yn\" style=\"\" rel=\"noopener\">press release<\/a>. The 16-storey residential project will contain 165 units and is scheduled for delivery by December 2027. Samana also has 17 new projects in its pipeline for 2024, the release said.<\/p>\n<p class=\"tag-border-left\">JUDICIARY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CBUAE + Dubai Courts link case management systems: <\/strong>The Central Bank of the UAE (CBUAE) inked an MoU with Dubai Courts to digitally connect their court case management systems, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/99.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The partnership aims to help expedite the implementation of the Courts\u2019 orders and decisions. <\/p>\n<p class=\"tag-border-left\">TECH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Vertiv to develop 16 MW data center for GDH:<\/strong> Database manager <a target=\"_blank\" href=\"https:\/\/www.gulfdatahub.ae\/\" style=\"\" rel=\"noopener\">Gulf Data Hub<\/a> (GDH) struck a multi-year partnership with US digital infrastructure and data center developer <a target=\"_blank\" href=\"https:\/\/www.vertiv.com\/en-emea\/?utm_source=google-ads&amp;utm_medium=paid-search&amp;utm_campaign=vertiv-branding&amp;utm_term=global-emea_brand-names&amp;utm_content=en_text-ad_home-page&amp;gad_source=1&amp;gclid=cjwkcajw5ky1bhageiwa5jgujjllv1_afmrj5wwa2yna3ngdxmkhacaayq7l6cpbwz8xygpfxhuldroc7nwqavd_bwe\" style=\"\" rel=\"noopener\">Vertiv<\/a> to build a new 16 MW data center for GDH in Dubai, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b4geil3-vertiv-gulf-data-hub-partner-deploy-16mw-data\" style=\"\" rel=\"noopener\">Wam<\/a> reports. Located in Dubai Silicon Oasis, the data center will focus on advancing biotech research and renewable energy generation in the emirate. The new facility will be built utilizing Vertiv\u2019s digital infrastructure to enhance GDH\u2019s operational and power usage efficiency.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/central-bank-of-the-uae\/\">Central Bank of the UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ipo\/\">IPO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/judiciary\/\">judiciary<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/rakbank\/\">RAKBank<\/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\/tech\/\">tech<\/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=\"94460\" 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=\"94460\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/02\/investors-are-piling-into-turkish-assets-as-the-countrys-reform-program-bears-tentative-fruit\/\">\r\n                            Investors are piling into Turkish assets as the country\u2019s reform program bears tentative fruit                        <\/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\/08\/02\/investors-are-piling-into-turkish-assets-as-the-countrys-reform-program-bears-tentative-fruit\/\" 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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This shortly after Moody\u2019s <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-19\/turkey-wins-rating-upgrade-from-moody-s-after-over-a-decade?embedded-checkout=true\" style=\"\" rel=\"noopener\">raised Turkey\u2019s credit rating<\/a> two notches from B3 to B1 \u2014 its first raise in over a decade. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Investors have already taken note: <\/strong><span style=\"background-color: transparent;\">Far from the emerging market menace of yore, Turkey has become the belle of the ball, with nearly USD 30 bn being channeled from abroad into Turkish stocks and bonds since May 2023, <\/span><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-31\/turkey-stocks-lira-try-are-making-a-comeback-with-investors?srnd=homepage-middle-east&amp;embedded-checkout=true\" rel=\"noopener\">Bloomberg<\/a><span style=\"background-color: transparent;\"> reports. There has been a 6.3% rise in TRY-denominated bonds in the same period \u2014 far outstripping the average of 1.1% in similar emerging markets \u2014 and the Borsa Istanbul100 stock index has been among the best performing in the world.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Turkey\u2019s ascent to emerging market darling was not always in the cards: <\/strong>Decades of unorthodox monetary policy saw the Turkish central bank cut interest rates in the face of double-digit inflation and engage in market-confounding about-faces on policy that prompted foreign investors to run for the hills. Central bank attempts to challenge Erdogan\u2019s unconventional economic views by raising interest rates saw offending technocrats fired and replaced by more pliable alternatives.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s changed?<\/strong> Most observers mark the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c8d55d36-fe04-4653-9611-e42ec91ded89\" style=\"\" rel=\"noopener\">June 2023 appointment<\/a> of former economy chief Mehmet Simsek as treasury and finance minister as the inflection point that set the country on its current trajectory. Within nine months of his appointment, Simsek and new leadership at the central bank had hiked interest rates a whopping <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/rates-bonds\/turkey-hikes-key-rate-500-points-50-surprise-move-2024-03-21\/\" style=\"\" rel=\"noopener\">41.5 percentage points<\/a>, from 8.5% in June 2023 to 50% in March 2024. The timing of Simsek\u2019s appointment was no accident either, coming one month after tight presidential elections saw Erdogan squeak his way into a third term.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Despite apparent commitment to reform, those in the know suggest taking the<\/strong><strong> turnaround with a pinch of salt. <\/strong>Observers caution that the policy shift is still in its early days, with significant room for a reversal should electoral exigencies come into play. The country also continues to see inflation rates <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/cb3beb0c-96d4-43e5-a13b-2fb1eee51bc9\" style=\"\" rel=\"noopener\">above 70%<\/a>, with the fruits of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/20c6ce9a-50b2-42b8-bd8e-d74aeee82b4e\" style=\"\" rel=\"noopener\">newly-appointed Fatih Karahan<\/a> \u2019s punishingly tight monetary policy yet to fully materialize. <\/p>\n<p class=\"tag-border-left\">THE MARKETS THIS MORNING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s red as far as the eyes can see<\/strong> as Japan\u2019s benchmark index, the Nikkei, slid 5% as investors mulled the decision of the Bank of Japan to cut rates earlier this week and a resurgence in the JPY. South Korea\u2019s Kospi also tumbled 2.71%, while the Topix fell 4.4%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wall Street futures are also falling <\/strong>after a market rout yesterday, as a disappointing batch of earnings from Big Tech fuels worries in the market. <\/p>\n<p><a target=\"_blank\" id=\"t.b353581559dc67c5e6dda392b52a7d7506bd6375\" rel=\"noopener\"><\/a><a target=\"_blank\" id=\"t.0\" rel=\"noopener\"><\/a> <\/p>\n<div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,367<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: -2.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,280<\/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: +5.4%)<\/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\">3,735<\/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: -2.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : AED<\/strong><strong> CBUAE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 3.67<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 3.67<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EIBOR<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.0% 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\">4.9% 1 yr<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">12,046<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.5% (YTD: +0.7%)<\/p>\n<\/td>\n<\/tr>\n<tr style=\"\">\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:50.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Down<\/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\">29,360<\/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: +17.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,447<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.4% (YTD: +14.2%)<\/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>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\">8,283<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.0% (YTD: +7.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,766<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.2% (YTD: +5.4%)<\/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 79.81<\/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%<\/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 1.97<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,497.3<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 64756.05<\/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\">-0.15% (YTD: +46.6%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The DFM rose 0.3% yesterday<\/strong> on turnover of AED 488.8 mn. The index is up 5.4% 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>Watania International Holding (+8.5%), Shuaa Capital (+5.1%) and Dubai Refreshment Company (+5.0%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>National International Holding Company (-9.8%), Al Ramz Corporation Investment and Development (-7.0%) and International Financial Advisors (-4.3%). <\/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>, rose 0.3% on turnover of AED 1.1 bn. Meanwhile Nasdaq Dubai rose 0.4%<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/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=\"94462\" 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=\"94462\">\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\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/02\/uae-azerbaijan-develop-economic-ties\/\">\r\n                            UAE + Azerbaijan develop economic ties                        <\/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\/08\/02\/uae-azerbaijan-develop-economic-ties\/\" 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\/08\/02\/uae-azerbaijan-develop-economic-ties\/')\">\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\/08\/02\/uae-azerbaijan-develop-economic-ties\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=UAE + Azerbaijan develop economic ties&url=https:\/\/enterpriseam.com\/uae\/2024\/08\/02\/uae-azerbaijan-develop-economic-ties\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/uae\/2024\/08\/02\/uae-azerbaijan-develop-economic-ties\/&title=UAE + Azerbaijan develop economic ties\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=UAE+%2B+Azerbaijan+develop+economic+ties+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F08%2F02%2Fuae-azerbaijan-develop-economic-ties%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/02\/uae-azerbaijan-develop-economic-ties\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/127.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"94463\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/02\/uae-azerbaijan-develop-economic-ties\/127-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/127.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"127.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/127.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/127.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-94462\" class=\"content-area-description single-story post-94462 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-aid tag-azerbaijan tag-diplomacy tag-egypt tag-energy tag-enterpriseam-uae tag-trade wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.079431a8-636f-49e5-9edc-8570d2a3cf30.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>UAE + Azerbaijan bolster partnership: <\/strong>Azerbaijan and the UAE discussed expanding economic partnerships across various sectors, including tourism, logistics, industry, agriculture, SMEs, technology, and renewable energy during an intergovernmental committee session chaired by Economy Minister Abdullah bin Touq Al Marri and his Azerbaijani counterpart Mikayil Jabbarov, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b4geiqs-uae-azerbaijan-agree-develop-economic-partnership\" style=\"\" rel=\"noopener\">Wam<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE and Azerbaijan agreed to establish joint work teams <\/strong>to explore further economic cooperation in priority industries across the private and public sectors. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The delegations also agreed to provide support for exporters and importers in a bid to boost bilateral trade<\/strong> and facilitate Azerbaijani exports to regional markets. The session also explored launching initiatives to support startup growth and boosting investments, particularly in the food and manufacturing industries. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\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>President Sheikh Mohamed bin Zayed Al Nahyan held a private meeting with <\/strong><strong>Egyptian President Abdel Fattah El Sisi in New Alamein City in Egypt, <\/strong>where they discussed strengthening bilateral ties between the UAE and Egypt and enhancing cooperation across key sectors, according to <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b4geil5-uae-and-egyptian-presidents-hold-meeting-discuss\" style=\"\" rel=\"noopener\">Wam<\/a>. The two heads of state also addressed the regional developments and reaffirmed their commitment to continuing coordination. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Foreign Minister Abdullah bin Zayed Al Nahyan discussed the escalating regional <\/strong><strong>tensions with US Secretary of State Antony Blinken<\/strong> over a phone call, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b4geitm-abdullah-bin-zayed-antony-blinken-discuss-regional\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The two ministers addressed the situation in Gaza, affirming the need for a ceasefire. The conversation also covered the situation in Sudan.<\/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\">OTHER DIPLO NEWS-<\/p>\n<ul>\n<li><strong>The UAE has dispatched a humanitarian aid plane to the Philippines <\/strong>in response to the devastation caused by Typhoon Carina. (<a target=\"_blank\" href=\"https:\/\/www.mofa.gov.ae\/en\/mediahub\/news\/2024\/8\/1\/1-8-2024-uae-philippines\" style=\"\" rel=\"noopener\">Statement<\/a>) <\/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\/aid\/\">aid<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/azerbaijan\/\">Azerbaijan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/egypt\/\">Egypt<\/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\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"94464\" 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=\"94464\">\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\">MY MORNING ROUTINE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/02\/my-morning-routine-paolo-casamassima-ceo-of-the-middle-east-investor-relations-association\/\">\r\n                            My Morning Routine: Paolo Casamassima, CEO of the Middle East Investor Relations Association                        <\/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\/08\/02\/my-morning-routine-paolo-casamassima-ceo-of-the-middle-east-investor-relations-association\/\" 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 Paolo Casamassima (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/paolo-casamassima\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), CEO of the <a target=\"_blank\" href=\"https:\/\/meira.me\/\" style=\"\" rel=\"noopener\">Middle East Investor Relations Association<\/a> (MEIRA). <strong>Edited excerpts from our conversation:<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My name is Paolo Casamassima.<\/strong> I am the CEO of the Middle East Investor Relations Association, also known as MEIRA \u2014 the go-to professional body for investor relation professionals across the GCC region, with over 170 members, mainly corporates, as well as investor relation advisors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We cater to our members across 10 different countries. <\/strong>We have chapters across the UAE \u2014 Abu Dhabi and Dubai \u2014 and Bahrain, Jordan, Kuwait, Lebanon, Oman, Palestine, Qatar, and Saudi Arabia, with a couple more chapters that we're looking to establish in the future. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I\u2019m British-Italian \u2014 <\/strong>born in Italy, to Italian parents, but moved to the UK at the age of 21 and spent the next 18 years and most of my professional career there, until my relocation to the UAE. I've worked as an investor relations advisor across three different businesses \u2014 Orient Capital, King Worldwide, and Ipreo, which is now Standard & Poor\u2019s \u2014 supporting publicly listed companies globally with their investor relations programs. I have also built in the UK a business called <a target=\"_blank\" href=\"https:\/\/www.bighous.co.uk\/\" style=\"\" rel=\"noopener\">Bighous<\/a>, which is a social impact business that helps homeless and vulnerable people, or people with troubled backgrounds like orphans and victims of family abuse, with housing. I manage it from Dubai. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEIRA operates across a number of areas.<\/strong> First and foremost, we have a number of networking events of IR professionals across the region \u2014 the so-called chapter meetings \u2014 to allow them to learn and grow their investor relations knowledge and ultimately become better IR officers. We provide a number of tools in that respect, including an education program \u2014 a proper qualification called the <a target=\"_blank\" href=\"https:\/\/meira.me\/training\/ciro\/\" style=\"\" rel=\"noopener\">certified investor relation officer program<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We run a number of paid and unpaid events <\/strong>alongside our partners, such as webinars and workshops, on topics that range from very generic investor relation programs to more specific courses that could focus, for example, on ESG and financial literacy. We also do sector-specific courses for IROs working in a specific sector, like telecoms, oil and gas, utilities, etc. All of these tools are aimed to equip the investor relation officer to raise the standards of investor relations, which will ultimately drive the valuation of publicly listed companies across the GCC region. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For the region, historically and until a few years ago, the investor relations figure within a publicly listed company was more of a marketing and communications figure<\/strong>, considered to be a person that handles queries with the media, and sometimes with investors. Only through the support of the GCC exchanges is the education towards this function growing. We are working closely with them and other regulators to be able to make sure that the investor relations function does what it is supposed to do and what it has been doing in Western countries for decades.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The IR officer is supposed to ensure stakeholders and current and prospective shareholders are informed about what is happening with a publicly listed company<\/strong>, and ultimately should aim to <strong>achieve fair valuation of a specific stock.<\/strong> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>When companies go public, it\u2019s not just a matter of creating a liquidation event for the founder and the shareholders<\/strong>, but that's supposed to drive the valuation of the business up and improve access to further funding, because you're ultimately aiming to find the right capital structure for the business. I would say that the challenge is that a number of corporates in the region, in comparison to [capital markets in] the Western world, still have a relatively small freefloat, which is the number of shares that are traded on the exchange, making for a very retail-focused shareholder base. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>If a company has 100 shares, many companies will go for a 20-30% <\/strong><strong>freefloat<\/strong><strong>. <\/strong>That's often not enough to attract institutional investors because there will not be enough shares or enough liquidity, and the large funds want to invest big tickets. They need to come in, and at some point they'll need to come out, and there needs to be enough trading to enable that mechanism. This is one of the challenges that IR officers are facing. We\u2019re working with market participants \u2014 the IR officers, the regulator, and the exchanges \u2014 to try to improve that. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I think that the role of the investor relations<\/strong> <strong>officer is changing and becoming a lot more professional <\/strong>and will reach the point where in five years, if we want to be ambitious, or 10 years, if we\u2019re realistic, it will be among the top three positions alongside the CEO and the CFO. You\u2019ll have the CFO, CEO, and the chief investor relations officer. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I spend maybe 80% of my time meeting and engaging with our members and prospective members.<\/strong> I am a big fan of face-to-face meetings, so I struggled a little bit when, in the last two years in London after covid, all meetings went online. When I was traveling to the region, I noticed that people here still do meet in person and they don't do online meetings very much. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There's a lot of traveling<\/strong>, given the fact that we cover 10 countries. We organize events on a quarterly basis across different regions. There could be a week to 10 days where I'm off on the road and I will do one country per day. When I'm in the UAE, we usually spend quite a lot of time, besides the organization of events, planning our annual conference \u2014 probably 50% of the time. I started planning for this year\u2019s event in December last year, and I'm already planning the 2025 event right now. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This year, for the first time, we have also created a new category in our awards segment for ESG and sustainability<\/strong>, with a view to award and recognize the best reports and practitioners in the field of ESG and sustainability.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I start my day with a triple espresso <\/strong>around 5 or 6am in the morning. While I'm preparing the espresso, I'll do 30 to 50 pushups and I will then take my kids to school. It's a routine that I particularly enjoy, because sometimes I don't get to see them much throughout the day, or if I'm traveling, I don't see them at all.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There is one thing that I try not to skip every week.<\/strong> One of my children, Leonardo, who\u2019s 8 years old, is very good at football, and he plays for both Juventus and Paris Saint Germain. He plays two different leagues and plays six times a week. My wife and I spend pretty much the whole day on Sunday taking him around different football pitches. I support Juventus, so the fact that he plays for Juventus is a dream, and when I go, I\u2019m the loudest dad. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I have an agenda to organize my time, and the pages are divided into four<\/strong> \u2014 important, urgent; not important, urgent; important, not urgent; and not important, not urgent. I write all my tasks there usually on Sunday, and I try to complete 75% of what's on the agenda by the end of the week. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>At the end of the day, I like to put the kids to sleep.<\/strong> I think putting the kids to sleep really changes the energy in your body and mind and makes you calmer. You need to be calm to be able to put them to sleep.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I try not to watch TV. <\/strong>We may watch a Netflix movie once every two weeks, but I am a big supporter of not having TVs or too much technology because it's very addictive and it has a negative impact on your children\u2019s development and education. I prefer to listen to music. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I think the best advice I\u2019ve gotten is that if you really want something and if you put your mind and your heart into achieving a goal, you will get there.<\/strong> In 2022, I started to travel to the Middle East, and one day I told my wife, I think I want to get a job in Dubai. I set a goal to get a job here, and I got a job that I couldn\u2019t even imagine at the time. In 2020, my father was diagnosed with lymphoma, and was given six months to live, and my wife and I relocated to Italy to help him. He's still with us four years after we found an experimental chemo drug. So my advice would be to make some radical decisions, and if you really want something, it\u2019s in your hands to get it. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment\/\">investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/middle-east-investor-relations-associations\/\">Middle East Investor Relations Associations<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"94466\" 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\/08\/02\/94466-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-94466\" class=\"content-area-description single-story post-94466 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;\">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;\">2 August (Friday): Abu Dhabi Extreme Championship, Mubadala Arena, Abu Dhabi. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">3 August (Saturday): UFC Fight Night, Etihad arena, Abu Dhabi.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">14 August (Wednesday): UAE to participate in ceasefire talks co-mediated by the US and KSA between the warring factions in Sudan. <\/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;margin:0;line-height:1.15;orphans:2;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 August (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 on 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;\">4-5 September (Wednesday-Thursday): 2024 International Government Communication Forum, Expo Centre Sharjah, Sharjah.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>5 September (Thursday): Deadline to apply for the sixth edition of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.startups.sheraa.ae\/\" style=\"\">Access Sharjah 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: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;margin:0;line-height:1.15;orphans:2;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>25-26 September (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.aerospacesummit.com\/\" style=\"\">Global Aerospace Summit<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi, 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>30 September (Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/dpc.org.ae\/en\/podfestdubai\" style=\"\">Dubai Podfest<\/a><\/span><span style=\"font-weight:400;\">, World Trade Center, Dubai. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight: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>, 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>8-9 October (Tuesday-Wednesday)): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/events.economist.com\/global-trade-week\/?RefID=ad_google_gts2024\" style=\"\">Global Trade and Supply Chain 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>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>14-18 October (Monday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ieee-ras.org\/conferences-workshops\/financially-co-sponsored\/iros\" style=\"\">IEEE\/RSJ International Conference on Intelligent Robots and Systems<\/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;\">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;margin:0;line-height:1.15;orphans:2;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>3-10 November (Sunday-Sunday):<\/span> <span style=\"font-weight:400;\">Dubai Premier Padel P1, Dubai Dutyfree Tennis Stadium, Dubai. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-7 November (Monday-Thursday): <\/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;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\/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>1 January (Wednesday): ADGM to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f7d3f193-18ec-4d19-8c9d-0a8bb935f0be\/this-morning:-lots-of-ipos-%2B-alkaabi-confirms-plans-for-second-nuclear-plant\" style=\"\">slash licensing fees<\/a><\/span><span style=\"font-weight:400;\"> for retail and non-financial firms, and hike fees for finance firms. <\/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;margin:0;line-height:1.15;orphans:2;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;\">MAY 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;\">26-28 May (Monday-Wednesday): Arab Media Summit, World Trade Centre, 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 the fall of 2025:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">2025 Games of the Future, Dubai.<\/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>National Pulse invests in Singaporean fintech | e&#038; posts 2Q earnings | Sanad to offer Airbus MRO 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