{"id":94529,"date":"2024-08-06T00:00:00","date_gmt":"2024-08-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=94529"},"modified":"2025-12-15T01:04:16","modified_gmt":"2025-12-15T01:04:16","slug":"non-oil-business-growth-continues-downward-trend","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/non-oil-business-growth-continues-downward-trend\/","title":{"rendered":"Non-oil business growth continues downward trend"},"content":{"rendered":"<section id=\"94531\" 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=\"94531\">\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 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\n<article id=\"post-94531\" class=\"content-area-description single-story post-94531 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-tourism 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\/.68b3b6d9-07f8-4cdc-ba27-81d83189405f.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, everyone. <\/strong><span style=\"background-color: transparent;\">We have a packed issue for you this morning, with fresh PMI data for July showing continued slowing momentum in the non-oil business sector; Sidara dropping its takeover bid for Wood Group; Abu Dhabi Investment Authority offloading a stake in Galderma, and much more.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But first, it was an eventful day for global stock markets\u2026 <\/strong><\/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\"> <a id=\"wwtt1\"><\/a> <strong>Equity markets have endured after a \u201cbrutal\u201d sell-off<\/strong> that wiped USD 6.4 tn from global stock markets, triggered by concerns about the US economy potentially slowing faster than expected while the Fed keeps policy rates unchanged.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Last Friday, the US released its July payroll data, showing slower job growth and unemployment rising to 4.3%. The news caused a big selloff, with stocks and bonds taking a hit. Earlier reports about weak manufacturing and construction only made things worse.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where the day ended:<\/strong> US markets all ended in the red, despite paring back some of their losses during the day as \u201cencouraging\u201d US services data helped to steady markets. Treasury yields also clawed back some losses following the fresh data. Still, all three major US indexes were down more than 2.5%:<\/p>\n<ul>\n<li><strong>S&amp;P 500: <\/strong>-3.0%<\/li>\n<li><strong>Dow:<\/strong>&nbsp;-2.6%<\/li>\n<li><strong>Nasdaq Composite: <\/strong>-3.4%<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tech shares were among the worst performers<\/strong>, with Nvidia closing down 6.4%, Apple falling 4.8%, and Tesla dropping 4.2%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our part of the world wasn\u2019t spared:<\/strong> It was also a sea of red in Middle Eastern markets, with the DFM closing down 4.5%, the ADX falling 3.4%, the EGX falling 2.3%, and Tadawul closing down 2.1%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Panic mode on: <\/strong>Wall Street\u2019s \u201cfear gauge\u201d \u2014 Cboe Volatility Index (VIX) \u2014 settled around 38, after peaking at 65, its highest point since the early days of the pandemic. A VIX level above 30 is considered high, indicating significant market fear or uncertainty. While a level below 20 is typically considered low. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over in the forex and crypto markets:<\/strong><\/p>\n<ul>\n<li><strong>JPY:<\/strong> Rose to a seven-month high against the USD.<\/li>\n<li><strong>Malaysia's MYR:<\/strong> Hit its highest level against the greenback since April 2023.<\/li>\n<li><strong>BTC <\/strong>dropped to USD 54k on Monday, down from USD 62k on Friday.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WHERE THINGS STAND TODAY- The Nikkei is up in early trading, rising more than 8%<\/strong> within minutes of trading opening this morning to pare back some of its losses from yesterday. The index was down 12.4% yesterday, marking its worst crash since 1987, which added to worries about global market instability. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The story is single-handedly leading the conversation everywhere this morning:<\/strong> <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/88bd2eaa-5e57-44b7-93df-a5127ebe7fda\" style=\"\" rel=\"noopener\">Financial<\/a><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/88bd2eaa-5e57-44b7-93df-a5127ebe7fda\" style=\"\" rel=\"noopener\">Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-08-05\/-6-4-trillion-wipeout-sows-fear-great-unwind-is-just-starting\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/global-markets-wrapup-1pix-2024-08-06\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/livecoverage\/stock-market-today-dow-sp500-nasdaq-live-08-05-2024\" style=\"\" rel=\"noopener\">WSJ<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/08\/05\/1-trillion-wipeout-market-rout-punishes-mega-cap-tech.html\" style=\"\" rel=\"noopener\">CNBC<\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- <\/strong>Bangladeshi Prime Minister Sheikh Hasina fled to India yesterday after stepping down following weeks of violent anti-government demonstrations.<\/p>\n<p class=\"tag-border-left\"> PUBLIC SERVICE ANNOUNCEMENT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The Foreign Affairs Ministry is urging Emirati citizens in the UK to steer clear of areas <\/strong><strong>witnessing riots and protests, <\/strong>and avoid crowded areas, the UAE Embassy in London said in a <a target=\"_blank\" href=\"https:\/\/x.com\/UAEEmbassyUK\/status\/1820490273514021196\" style=\"\" rel=\"noopener\">statement<\/a> on X. Citizens should call the UAE Embassy in London (on 0097180024 and 0097180044444) in the case of emergency and register on the Twajudi service for consular services.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- The UK is seeing <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/10e5356c-5bc7-463f-8401-e3fb314c9625\" style=\"\" rel=\"noopener\">anti-immigrant protests and far-right violence<\/a><\/strong><strong> erupt acro<\/strong><strong>ss several cities, <\/strong>after a mass stabbing in Southport last Tuesday was falsely linked to immigrants and Muslims online, with counter-protests later erupting.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Emirates canceled flights to Bangladesh yesterday and today amid ongoing unrest <\/strong>in the country, according to a <a target=\"_blank\" href=\"https:\/\/www.emirates.com\/ae\/english\/help\/travel-updates\/\" style=\"\" rel=\"noopener\">travel update<\/a>, while sister budget carrier Flydubai revised its flight schedule so that flights operate during daytime hours, <a target=\"_blank\" href=\"https:\/\/gulfnews.com\/business\/aviation\/uae-carriers-cancel-revise-flight-schedules-to-bangladesh-amid-civil-unrest-1.1722868128202\" style=\"\" rel=\"noopener\">Gulf News<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER<\/strong>- Expect to see cloudy skies until Thursday, with a chance of rainfall, particularly in the East and South regions, according to the National Center of Meteorology\u2019s <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b4i6u0k-monday-thursday-see-partly-cloudy-cloudy-weather\" style=\"\" rel=\"noopener\">forecast<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">The mercury will soar to 42\u00b0C today in <strong>Dubai<\/strong> before dropping to an overnight low of 35\u00b0C. Meanwhile, in <strong>Abu Dhabi<\/strong>, temperatures will peak at 41\u00b0C, with a low of 34\u00b0C.<\/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>Adia\u2019s consortium has until Friday to formalize Hargreaves bid: <\/strong>A consortium of the Abu Dhabi Investment Authority (Adia) and private equity firm CVC Capital will now have until 9 August to submit a formal offer to acquire UK\u2019s investment firm Hargreaves Lansdown, after Hargreaves Lansdown extended a previous deadline of 5 August, according to a London Stock Exchange <a target=\"_blank\" href=\"https:\/\/www.londonstockexchange.com\/news-article\/HL.\/offer-update\/16603088\" style=\"\" rel=\"noopener\">filing<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEM<\/strong><strong>BER- <\/strong>Hargreaves Lansdown <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/de98445d-93db-4679-a8ea-e4fb0f1e69be\/%253cmark%253esidara%253c%2Fmark%253e-gets-access-to-due-diligence-on-wood-group\" style=\"\" rel=\"noopener\">granted<\/a> Adia and CVC Capital due diligence in July, after the consortium submitted a fourth bid following <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/b621c113-0d36-4013-b351-34113ee59471\/adia-and-cvc-mull-another-bid-for%253cmark%253e-hargreaves-lansdown%253c%2Fmark%253e,-after-the-first-was-rejected\" style=\"\" rel=\"noopener\">several rejections<\/a>, valuing it at around GBP 5.41 bn. Hargreaves\u2019 board said at the time it was willing to recommend the proposal. Investors have reportedly raised concerns over the fairness of the proposed takeover for Hargreaves\u2019 shareholders, with the main sticking point being the weeding out of funds that will be unable to retain their stakes in Hargreaves following its delisting from the LSE, the Financial Times reported earlier. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN OTHER ADIA NEWS- Adani Energy Solutions' wrapped a USD 1 bn secondary share<\/strong><strong> sale in which the<\/strong><strong> Abu Dhabi Investment Authority (Adia) was <\/strong><strong>reportedly an investor<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/indias-adani-energy-raises-1-bln-via-fundraise-2024-08-05\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. The qualified institutional placement (QIP) also saw substantial interest from US investors, Indian mutual funds, and ins. companies, and was 6x oversubscribed. The funds raised will be allocated to power transmission investments, smart metering projects, and debt repayment.<\/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- Dubai Chamber of Commerce businesses reported AED 145.9 bn in exports and <\/strong><strong>re-exports in 1H 2024,<\/strong> and issued over 372k certificates of origin, according to a <a target=\"_blank\" href=\"https:\/\/mediaoffice.ae\/en\/news\/2024\/august\/05-08\/dubai-chambers-gcc-markets\" style=\"\" rel=\"noopener\">statement<\/a>. The GCC region led as the top export destination with AED 78.9 bn in trade, representing 53.9% of the total. Non-GCC MENA countries followed, accounting for 23.9% with AED 34.9 bn, while African markets were the third top destination with AED 14.5 bn, accounting for 9.9% of the total.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Real estate transactions in Dubai grew 59% y-o-y to a record 17k transactions in July<\/strong><strong>,<\/strong> with transaction value standing at an all-time high of AED 55.5 bn during the month, up 57% y-o-y, Property Finder said in a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/research-and-studies\/over-17-000-transactions-worth-aed-555-bln-make-for-a-record-breaking-july-2024-reveals-property-finder-koc65ry2\" style=\"\" rel=\"noopener\">press release<\/a>. The off-plan market accounted for the lion\u2019s share of transactions, with 9.3k transactions, up 77% y-o-y, worth some AED 19.4 bn in value, up 54% y-o-y. Meanwhile, the ready market drew some AED 36 bn across 8.4k transactions during the month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#3- Abu Dhabi\u2019s hotel occupancy rates are expected to reach a record<\/strong><strong> 80% in July and August 2024<\/strong>, VP of Marketing at Rotana Hotels Amal Harb told <a target=\"_blank\" href=\"https:\/\/www.aletihad.ae\/news\/%D8%A7%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A\/4504988\/%D9%81%D9%86%D8%A7%D8%AF%D9%82-%D8%A3%D8%A8%D9%88%D8%B8%D8%A8%D9%8A-%D8%AA%D8%B3%D8%AC%D9%84-%D8%A3%D8%AF%D8%A7%D8%A1-%D8%B3%D9%8A%D8%A7%D8%AD%D9%8A%D8%A7--%D8%A7%D8%B3%D8%AA%D8%AB%D9%86%D8%A7%D8%A6%D9%8A%D8%A7--%D8%AE%D9%84%D8%A7%D9%84-%D8%A7%D9%84%D8%B5%D9%8A%D9%81\" style=\"\" rel=\"noopener\">Al Etihad<\/a>, while IHG Hotels and Resorts head of commercial operations for India, Middle East, and Africa, Tarek Labib expects an occupancy rate of around 72% this summer. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi\u2019s hotels welcomed 1.25 mn tourists in summer 2023,<\/strong> up 21% y-o-y compared to the recorded 1 mn tourists in summer 2022, Al Etihad reports, citing data from the emirate\u2019s Department of Culture and Tourism. June 2023 alone saw a 33% y-o-y growth in hotel guests, while July saw a 23% y-o-y increase in occupancy rates and August saw a 22% y-oy increase. This growth was driven by a surge in hotel demand and an influx of tourists, with Yas Island posting the highest levels of occupancy in the emirate. <\/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>Day 10 was nowhere near as eventful as day 9<\/strong>, but here are some of the highlights. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Swedish pole vaulter Armand Duplantis \u2014 aka Mondo \u2014 was the star of the Paris Olympics <\/strong><strong>yesterday. <\/strong>Mondo secured the pole vault gold and broke his own record suspending the bar 6.25m. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Egyptian Pharaohs lost 3-1 to host France<\/strong> in the semifinal of the men\u2019s Olympic football tournament last night. Team Egypt scored the match\u2019s first goal, before France scored in the last 8 minutes of the match and pushed the match into extra-time. Egypt will face Morocco on Thursday, where they will play for the bronze. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TEAM UAE- UAE rider Omar Al Marzooqi qualified for the final of individual showjumping <\/strong>\u2014 which you can catch today at 12pm \u2014 after finishing 21st out of 66 competing. His teammates, Abdullah Al Marri and Salim Al Suwaidi are both out of the competition. <\/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>United States (21 gold, 79 overall)<\/li>\n<li>China (21 gold, 53 overall)<\/li>\n<li>France (13 gold, 48 overall)<\/li>\n<li>Australia (13 gold, 33 overall)<\/li>\n<li>Great Britain (12 gold, 42 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 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 style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<br \/><\/strong><strong>DID YOU KNOW that we also cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Egypt<\/a><\/strong><strong> and <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong>?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of EnterpriseAM UAE delivered every weekday before 7am UAE time \u2014 without charge, thanks to our friends at Mashreq.<br \/><strong>***<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/uaeformar.enterprise.news\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/13.jpg?ssl=1\"><\/a> <\/p>\n<p class=\"tag-border-left\"> CIRCLE YOUR CALENDAR- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/worldesgsummit.com\/\" style=\"\" rel=\"noopener\">World ESG Summit<\/a><\/strong><strong> is scheduled to take place on 20-21 August at Dusit Thani in <\/strong><strong>Dubai.<\/strong> The two-day business conference will gather public and private sector players from key sectors like energy, utilities finance, and manufacturing to explore ESG integration across all industries. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>T<\/strong><strong>he Sharjah Entrepreneurship Centre (Sheraa) is accepting applications for the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.startups.sheraa.ae\/\" style=\"\" rel=\"noopener\">Access<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.startups.sheraa.ae\/\" style=\"\" rel=\"noopener\">Sharjah Challenge<\/a><\/strong><strong> until 5 September, <\/strong>offering two grants worth AED 250k to two startups in the sectors of agritech and livestock health. Shortlisted startups will receive mentorship to help them expand.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n\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-investment-authority\/\">Abu Dhabi Investment Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma\/\">M&amp;A<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/non-oil-business-activity-slows-to-a-three-year-low-in-july\/\">\r\n                            Non-oil business activity slows to a three year low in July                        <\/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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          <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/421.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"94535\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/non-oil-business-activity-slows-to-a-three-year-low-in-july\/421-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/421.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"421.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/421.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/421.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-94534\" class=\"content-area-description single-story post-94534 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-dubai tag-economy tag-enterpriseam-uae tag-pmi tag-sp-global 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\/.fefcadf9-76ec-4c8b-aec8-f354ba850dcb.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Non-oil business activity rose at the slowest pace in almost three years in <\/strong><strong>July<\/strong>, due to rising competition and input prices, and growing backlogs, according to S&P Global\u2019s UAE <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/302.pdf\" style=\"\" rel=\"noopener\">Purchasing Managers\u2019 Index (pdf)<\/a>. The country\u2019s headline reading dipped to 53.7 in July, from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/6e3856b6-3cbe-4be9-804d-ee5f36b9192a\/non-oil-business-sees-slower-growth-in-june-amid-increased-competition-and-accumulated-backlogs\" style=\"\" rel=\"noopener\">54.6 in June<\/a>, yet still remained above the 50.0 neutral threshold.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The report attributed the ongoing growth to \u201crising inflows of new work<\/strong>, ongoing projects and improved supply chain conditions.\u201d Demand remained strong with businesses continuing to grow their sales, though at the slowest pace since April, the report said. International demand saw a notable boost, with exports rising at their second-fastest pace in nine months. However, intense competition led to a decline in new order volumes for some firms.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The main reason behind the slowing momentum? Business capacity. <\/strong>Backlogs surged in July due to supply and administrative lags, causing inventory volumes to slightly fall for the first time in almost four years, as firms dug into their inputs to avoid project overruns. Businesses also noted that increased competition drove up backlogs, as non-oil firms looked to retain more clients amid rising competition. Despite this, job creation dipped to a six-month low. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Price pressures were high:<\/strong> Input price inflation hit a two-year high in July, accelerating for the fourth consecutive month on the back of rising material costs, and higher wages and overheads. Selling prices climbed to a six-year peak for the second month running, though fierce competition tempered cost pass-through. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The outlook is still positive:<\/strong> \u201cThe PMI suggests that the non-oil sector is expanding solidly and could be strengthened if companies start to get on top of their workloads. Firms are generally optimistic of this, with confidence in the year ahead remaining strong, while hiring also continued in a bid to raise staff capacity,\u201d said S&P Senior Economist David Owen.<\/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\">DUBAI-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai\u2019s PMI mirrored the UAE\u2019s: <\/strong>Heightened competition drove the PMI down to 52.9 in July, down from 54.3 in June, its lowest reading in two and a half years. The index indicated a slower, yet solid, improvement in the non-oil private sector, with new orders weakening amid rising competition, and output growth slowing to its weakest level since September 2021, leading to lower hiring levels. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Purchasing levels dropped at the second-fastest pace on record in July<\/strong>, due to rising material costs and the need to deplete existing stocks. Input prices surged at their fastest rate in two years, leading to a third consecutive rise in output charges.<\/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\">ELSEWHERE IN THE REGION-<\/p>\n<ul>\n<li><strong>Egypt\u2019s non-oil private sector activity dipped slightly to <\/strong><strong><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/303.pdf\" style=\"\" rel=\"noopener\">49.7 (pdf)<\/a><\/strong><strong> in July<\/strong>, from 49.9 in June, settling right below the 50.0 mark and reaching its second-highest level in three years;<\/li>\n<li><strong>Saudi Arabia\u2019s business activity growth <\/strong><strong><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/301.pdf\" style=\"\" rel=\"noopener\">fell (pdf)<\/a><\/strong><strong> for a third month straight to 54.4 in July<\/strong>, from 55.0 in June, as output levels, purchasing activity, and new exports rose, despite a lull in new orders and growing competitive pressures.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai\/\">Dubai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/economy\/\">Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/pmi\/\">PMI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/sp-global\/\">S&amp;P Global<\/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=\"94536\" 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=\"94536\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/sidara-backs-out-of-plans-to-buy-out-wood-group\/\">\r\n                            Sidara backs out of plans to buy out Wood Group                        <\/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\/06\/sidara-backs-out-of-plans-to-buy-out-wood-group\/\" 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\/06\/sidara-backs-out-of-plans-to-buy-out-wood-group\/')\">\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\/06\/sidara-backs-out-of-plans-to-buy-out-wood-group\/\">\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=Sidara backs out of plans to buy out Wood Group&url=https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/sidara-backs-out-of-plans-to-buy-out-wood-group\/\">\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\/06\/sidara-backs-out-of-plans-to-buy-out-wood-group\/&title=Sidara backs out of plans to buy out Wood Group\">\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=Sidara+backs+out+of+plans+to+buy+out+Wood+Group+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F08%2F06%2Fsidara-backs-out-of-plans-to-buy-out-wood-group%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\/06\/sidara-backs-out-of-plans-to-buy-out-wood-group\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1195.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"94537\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/sidara-backs-out-of-plans-to-buy-out-wood-group\/1195-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1195.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1195.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1195.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1195.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-94536\" class=\"content-area-description single-story post-94536 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-enterpriseam-uae tag-ma tag-ma-watch tag-sidara tag-wood-group 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\/.d7847e76-d506-443a-9e7d-10422b693969.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Dubai\u2019s Sidara backed out of its plans to acquire British oil services and <\/strong><strong>engineering firm Wood Group<\/strong>, it said in a <a target=\"_blank\" href=\"http:\/\/tement-regarding-john-wood-group-plc\/16602297\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. The Dubai-based firm cited geopolitical risks and financial market volatility as reasons for its change of plans. EnterpriseAM UAE was unable to reach company representatives.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Sidara had until <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/b2bdb852-0cea-4b57-abce-258ebff26f86\/fuel-prices-hiked-in-august-%2B-is-adia-closer-to-acquiring-a-stake-in-haldiram%3F\" style=\"\" rel=\"noopener\">9 August<\/a> to submit its final offer to acquire Wood Group after the board approved the extension of the initial deadline set for the end of July. After Wood rejected three previous bids, Sidara was granted <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/de98445d-93db-4679-a8ea-e4fb0f1e69be\/%253cmark%253esidara%253c%2Fmark%253e-gets-access-to-due-diligence-on-wood-group\" style=\"\" rel=\"noopener\">due diligence<\/a> and allowed to engage with Wood in June. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Sidara submitted four acquisition bids for Wood Group, <\/strong>which were all rejected for \u201csignificantly undervaluing\u201d the company. The engineering and consulting firm\u2019s latest bid saw it <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/de98445d-93db-4679-a8ea-e4fb0f1e69be\/%253cmark%253esidara%253c%2Fmark%253e-gets-access-to-due-diligence-on-wood-group\" style=\"\" rel=\"noopener\">offer to acquire<\/a> Wood Group at GBP 2.3 per share, valuing the company at up to GBP 1.59 bn, which it said would be its final offer. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One of Wood\u2019s biggest markets is the Middle East:<\/strong> The Middle East and Africa contribute about 18% of the construction company\u2019s revenues, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/410.pdf\" style=\"\" rel=\"noopener\">2023 annual report (pdf)<\/a>. Israel\u2019s ongoing war in Gaza as well as the brewing war between Israel and Lebanon \u2014 and Iran \u2014 is fueling geopolitical uncertainty in this corner of the world. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This isn\u2019t the first acquisition bid for Wood to fall through: <\/strong>The company\u2019s shareholders have urged it to consider listing in the US or selling the company after negotiations with buyout group Apollo to buy the company <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/apollo-global-says-does-not-intend-make-offer-uks-wood-group-2023-05-15\/\" style=\"\" rel=\"noopener\">fell through<\/a>. Apollo\u2019s bid \u2014 which it withdrew last month \u2014 had valued the company at GBP 1.66 bn at the time. Wood\u2019s shares had fallen about 25% over the past year, Bloomberg reports, giving it a market value of GBP 1.1 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reax: <\/strong>Wood Group\u2019s shares plunged 40% on the news. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma\/\">M&amp;A<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/sidara\/\">Sidara<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/wood-group\/\">Wood Group<\/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=\"94538 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=\"94538\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/94538-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-94538\" class=\"content-area-description single-story post-94538 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\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=\"94539\" 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=\"94539\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/adia-consortium-offloads-10-of-galderma-to-loreal\/\">\r\n                            Abu Dhabi Investment Authority consortium offloads 10% of Galderma to L\u2019Or\u00e9al                        <\/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\/06\/adia-consortium-offloads-10-of-galderma-to-loreal\/\" 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\/06\/adia-consortium-offloads-10-of-galderma-to-loreal\/')\">\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\/06\/adia-consortium-offloads-10-of-galderma-to-loreal\/\">\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=Adia consortium offloads 10% of Galderma to L\u2019Or\u00e9al&url=https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/adia-consortium-offloads-10-of-galderma-to-loreal\/\">\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\/06\/adia-consortium-offloads-10-of-galderma-to-loreal\/&title=Adia consortium offloads 10% of Galderma to L\u2019Or\u00e9al\">\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=Adia+consortium+offloads+10%25+of+Galderma+to+L%E2%80%99Or%C3%A9al+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F08%2F06%2Fadia-consortium-offloads-10-of-galderma-to-loreal%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\/06\/adia-consortium-offloads-10-of-galderma-to-loreal\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/423.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"94540\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/adia-consortium-offloads-10-of-galderma-to-loreal\/423-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/423.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"423.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/423.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/423.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-94539\" class=\"content-area-description single-story post-94539 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-abu-dhabi-investment-authority tag-enterpriseam-uae tag-galderma tag-ma-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.90604a71-0b2f-4b4e-bcd4-6b80a025e484.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Adia subsidiary to sell 10% of Galderma:<\/strong> An Abu Dhabi Investment Authority (Adia) subsidiary, alongside EQT-led Sunshine SwissCo, and Singapore\u2019s Auba Investment will sell a 10% stake in Swiss skincare company Galderma to French L\u2019Or\u00e9al for an undisclosed sum, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/326.pdf\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/326.pdf\" style=\"\" rel=\"noopener\">press release<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/326.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. Analysts peg the value of the stake at EUR 1.7 bn or USD 1.85 bn based on its CHF 66.96 closing price on Friday, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/f231cbe7-edd3-42a7-955c-7758cdc56584\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Current ownership: <\/strong>The exact size of Adia\u2019s stake in Galderma following the sale is unclear, but the consortium collectively owned 77.21% of the company before the stake sale, according to the <a target=\"_blank\" href=\"https:\/\/www.ser-ag.com\/en\/resources\/notifications-market-participants\/significant-shareholders.html#\/\" style=\"\" rel=\"noopener\">SIX Swiss Exchange<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>In 2019, a consortium of Adia, Swedish private equity company EQT, and Singapore's GIC <a target=\"_blank\" href=\"https:\/\/www.adia.ae\/en\/investments\/private-equity\/portfolio\/case-studies\/galderma\" style=\"\" rel=\"noopener\">acquired<\/a> Galderma \u2014 formerly Nestl\u00e9 Skin Health \u2014 for CHF 10.2 bn (c.USD 11.9 bn) from Nestl\u00e9. Initially established as a 50\/50 JV between L\u2019Or\u00e9al and Nestl\u00e9, L\u2019Or\u00e9al sold off its 50% ownership stake in Galderma to Nestl\u00e9 in <a target=\"_blank\" href=\"https:\/\/www.loreal-finance.com\/eng\/news-release\/loreal-finalises-strategic-transaction-nestle\" style=\"\" rel=\"noopener\">2014<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Galderma went public on the SIX Swiss Exchange in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/5b3b1d18-e659-4ef2-9760-7880a4d59e2b\/parkin-to-price-its-ipo-%2B-uae%25e2%2580%2599s-economy-to-grow-4.6%2525-in-2024,-according-to-moody%25e2%2580%2599s#:~:text=%232%2DADIA,in%20its%20statement.\" style=\"\" rel=\"noopener\">March<\/a>, raising <a target=\"_blank\" href=\"https:\/\/www.galderma.com\/news\/galderma-announces-full-exercise-over-allotment-option\" style=\"\" rel=\"noopener\">CHF 2.3 bn<\/a> (USD 2.6 bn) in an IPO that marked Switzerland\u2019s biggest since <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/retail-consumer\/skin-care-company-galdermas-shares-soar-stock-market-debut-2024-03-22\/\" style=\"\" rel=\"noopener\">2017<\/a>. The consortium remained a majority shareholder in Galderma following the market debut.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi-investment-authority\/\">Abu Dhabi Investment Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/galderma\/\">Galderma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"94541\" 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=\"94541\">\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\">TRADE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/ihc-establishes-new-trading-holdco-dubbed-rorix-holdings\/\">\r\n                            Abu Dhabi\u2019s IHC sets up trade-focused holding company                        <\/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\/06\/ihc-establishes-new-trading-holdco-dubbed-rorix-holdings\/\" 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\/06\/ihc-establishes-new-trading-holdco-dubbed-rorix-holdings\/')\">\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\/06\/ihc-establishes-new-trading-holdco-dubbed-rorix-holdings\/\">\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=IHC establishes new trading holdco dubbed Rorix Holdings&url=https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/ihc-establishes-new-trading-holdco-dubbed-rorix-holdings\/\">\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\/06\/ihc-establishes-new-trading-holdco-dubbed-rorix-holdings\/&title=IHC establishes new trading holdco dubbed Rorix Holdings\">\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=IHC+establishes+new+trading+holdco+dubbed+Rorix+Holdings+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F08%2F06%2Fihc-establishes-new-trading-holdco-dubbed-rorix-holdings%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\/06\/ihc-establishes-new-trading-holdco-dubbed-rorix-holdings\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/398.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"94542\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/ihc-establishes-new-trading-holdco-dubbed-rorix-holdings\/398-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/398.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"398.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/398.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/398.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-94541\" class=\"content-area-description single-story post-94541 post type-post status-publish format-standard has-post-thumbnail hentry category-trade tag-enterpriseam-uae tag-international-holding-company tag-rorix-holdings 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\/.72a585e0-e485-4b1a-b88e-b80c9c798f0a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Abu Dhabi\u2019s USD 895 bn International Holding Company (IHC) set up a new <\/strong><strong>global finance and trade facilitation holding company dubbed Rorix <\/strong><strong>Holdings,<\/strong> it said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/377.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>. Rorix Holdings will focus on financial services, trade finance, advisory, commodities, and trade ins. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The game plan: <\/strong>Rorix will \u201cleverage the latest technologies and trade solutions\u201d to facilitate sustainable growth for businesses, aiming to boost trade volumes and attract foreign investment. The company plans to seek partners in the UAE and globally, in sectors spanning trading, financial services, commodities, logistics, and distribution, as the UAE expands its trade agreements with other countries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>The company will \u201cplay a crucial role in realizing the UAE\u2019s vision in facilitating seamless trade across borders and will serve as a crucial enabler for traders, service companies, entrepreneurs, and SMEs seeking new markets,\u201d IHC CEO Syed Basar Shueb said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This marks IHC\u2019s second new holdco this year: <\/strong>IHC set up 2PointZero earlier in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/d6306190-3d8d-4978-8256-05e11406e561\/new-ihc-holdco%253cmark%253e-2pointzero-%253c%2Fmark%253elaunches,-holds-aed-100-bn-portfolio\" style=\"\" rel=\"noopener\">January<\/a> as a holding company with some AED 100 bn (USD 27 bn) of assets under its umbrella, including Chimera Investment, private-markets focused firm Lunate, crypto mining player Citadel Technologies, Middle-East focused Sagasse Investments, Egypt\u2019s Beltone Financial Holding, as well as Abu Dhabi\u2019s International Resources Holding.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/international-holding-company\/\">International Holding Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/rorix-holdings\/\">Rorix Holdings<\/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=\"94543\" 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=\"94543\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/enersol-to-take-over-ev-holdings\/\">\r\n                            Adnoc, Alpha Dhabi JV Enersol snaps up 100% of EV Holdings                        <\/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\/06\/enersol-to-take-over-ev-holdings\/\" 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\/06\/enersol-to-take-over-ev-holdings\/')\">\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\/06\/enersol-to-take-over-ev-holdings\/\">\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=Enersol to take over EV Holdings&url=https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/enersol-to-take-over-ev-holdings\/\">\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\/06\/enersol-to-take-over-ev-holdings\/&title=Enersol to take over EV Holdings\">\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=Enersol+to+take+over+EV+Holdings+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F08%2F06%2Fenersol-to-take-over-ev-holdings%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\/06\/enersol-to-take-over-ev-holdings\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/342.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"94544\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/enersol-to-take-over-ev-holdings\/342-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/342.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"342.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/342.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/342.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-94543\" class=\"content-area-description single-story post-94543 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-adnoc-drilling tag-alpha-dhabi tag-enterpriseam-uae tag-ghitha tag-invictus tag-ma-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.fbe8f90b-4ce3-4f26-9481-6345529c3597.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Enersol to fully acquire EV Holdings for USD 45 mn: <\/strong>Enersol, a joint venture between Adnoc Drilling and Alpha Dhabi, is set to acquire drilling visualization and analytics firm <a target=\"_blank\" href=\"https:\/\/www.evcam.com\/\" style=\"\" rel=\"noopener\">EV Holdings<\/a> for USD 45 mn from UK private equity firm <a target=\"_blank\" href=\"https:\/\/www.dunedin.com\/\" style=\"\" rel=\"noopener\">Dunedin<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/306.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The acquisition is still pending regulatory approvals.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">We knew this was coming:<\/strong><span style=\"background-color: transparent;\"> Adnoc Drilling CFO Youssef Salem told EnterpriseAM UAE in <\/span><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/d51362ad-6753-4158-9653-caf0381d914f\/adnoc-drilling,-alpha-dhabi-jv-to-up-stake-in-us-tech-firm#:~:text=WATCH%20THIS%20SPACE,to%20EnterpriseAM%20UAE.\" rel=\"noopener\">June<\/a><span style=\"background-color: transparent;\"> that Enersol is nearing the acquisition of controlling stakes in three oilfield services technology companies specializing in the precision manufacturing, completion, and intervention segments, with the transactions expected to be finalized in 3Q 2024.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This acquisition marks Enersol\u2019s third this year,<\/strong> after the JV snapped up a majority 51% stake in manufacturing solutions provider NTS Amega for USD 58 mn <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/d795cf28-fb7a-4209-b305-65e70a064e8c\/alpha-dhabi-and-adnoc-drilling-jv-acquires-majority-stake-in-oilfield-services-tech-firm-nts-amega\" style=\"\" rel=\"noopener\">last month<\/a> and raised its stake to 67.2% in US oil engineering firm Gordon Technologies in a USD 270 mn transaction earlier in June. This brings the JV\u2019s total investments to date to USD 550 mn since its inception in November 2023, with USD 1.5 bn in global investments in energy technology planned.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Enersol has more in store: <\/strong>\u201cEnersol is actively advancing plans to acquire and invest in multiple businesses and foster a scalable ecosystem that will enhance market value and position the JV as a technology-centric investment platform to the energy sector,\u201d the statement reads. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About EV Holdings: <\/strong>Based in the US, <a target=\"_blank\" href=\"https:\/\/www.dunedin.com\/casestudies\/ev-the-downhole-visual-analytics-company\/29#:~:text=Based%20in%20Aberdeen,optimise%20oil%20flow.\" style=\"\" rel=\"noopener\">EV<\/a> provides vision-based analytics services for the oil and gas sector and operates in 36 countries across MENA, Europe, Asia, Australasia, the US, and West Africa. Dunedin <a target=\"_blank\" href=\"https:\/\/www.dunedin.com\/news\/business-services\/2014\/06\/25\/dunedin-invests-in-gbp69m-buyout-of-ev-offshore\/79\" style=\"\" rel=\"noopener\">acquired<\/a> the company in 2014 in a transaction worth GBP 69 mn.<\/p>\n<p class=\"tag-border-left\">MORE M&amp;A NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Invictus to buy into African agro-food firm:<\/strong> The board of International Holding Company subsidiary Ghitha\u2019s trading arm <a target=\"_blank\" href=\"https:\/\/invictusinvestment.ae\/\" style=\"\" rel=\"noopener\">Invictus Investment<\/a> has greenlit a plan to acquire a majority stake in an unnamed agro-food manufacturer in Africa, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/312.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a>. The acquisition is set to complement its current agro-commodity trading activities, the company said, without providing further details. The company plans to submit a binding offer to close the transaction. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not Invictus\u2019 first African acquisition this year:<\/strong> The company recently said it plans to acquire a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/1e9c1f9c-7161-4ee3-9c3b-261ef26184ff#:~:text=%232%2DInvictus,earlier%20last%20year.\" style=\"\" rel=\"noopener\">60% stake<\/a> in Moroccan agriculture trader Graderco, as it looks to ramp up its acquisitions and JVs in North and East Africa, including in Morocco, Algeria, Kenya, Tanzania, and Mozambique. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adnoc-drilling\/\">Adnoc Drilling<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/alpha-dhabi\/\">Alpha Dhabi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ghitha\/\">Ghitha<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/invictus\/\">Invictus<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"94545\" 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=\"94545\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/woodside-to-acquire-ocis-blue-ammonia-project-for-usd-2-3-bn\/\">\r\n                            Woodside to acquire OCI\u2019s blue ammonia project for USD 2.3 bn                        <\/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\/06\/woodside-to-acquire-ocis-blue-ammonia-project-for-usd-2-3-bn\/\" 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\/06\/woodside-to-acquire-ocis-blue-ammonia-project-for-usd-2-3-bn\/')\">\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\/06\/woodside-to-acquire-ocis-blue-ammonia-project-for-usd-2-3-bn\/\">\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=Woodside to acquire OCI\u2019s blue ammonia project for USD 2.3 bn&url=https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/woodside-to-acquire-ocis-blue-ammonia-project-for-usd-2-3-bn\/\">\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\/06\/woodside-to-acquire-ocis-blue-ammonia-project-for-usd-2-3-bn\/&title=Woodside to acquire OCI\u2019s blue ammonia project for USD 2.3 bn\">\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=Woodside+to+acquire+OCI%E2%80%99s+blue+ammonia+project+for+USD+2.3+bn+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F08%2F06%2Fwoodside-to-acquire-ocis-blue-ammonia-project-for-usd-2-3-bn%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\/06\/woodside-to-acquire-ocis-blue-ammonia-project-for-usd-2-3-bn\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/425.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"94546\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/woodside-to-acquire-ocis-blue-ammonia-project-for-usd-2-3-bn\/425-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/425.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"425.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/425.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/425.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-94545\" class=\"content-area-description single-story post-94545 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-enterpriseam-uae tag-fertiglobe tag-green-ammonia tag-ma-watch tag-renewables wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.ef080253-21b0-4084-8f3b-13ed92a4048f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Woodside to acquire OCI\u2019s blue ammonia project in Texas for USD 2.3 bn: <\/strong>Australia\u2019s largest oil and gas developer Woodside Energy agreed to acquire a low-carbon ammonia project in Texas for USD 2.35 bn from Netherlands-headquartered chemicals company and Fertiglobe\u2019s majority shareholder, OCI Global, according to a <a target=\"_blank\" href=\"https:\/\/oci-global.com\/news-stories\/press-releases\/oci-global-announces-agreement-for-the-sale-of-its-clean-ammonia-project-in-beaumont-texas-to-woodside-energy\/\" style=\"\" rel=\"noopener\">statement<\/a>. The agreement is set to close during 2H 2024 with Woodside acquiring full equity interests in the project.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- OCI Global has deep ties with Adnoc: <\/strong>The company sold its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/e51b7223-8a39-4dd8-a43f-5472e304d4a0\/adnoc-gets-the-green-light-for-fertiglobe-acquisition\" style=\"\" rel=\"noopener\">50% +1 stake in Fertiglobe<\/a> \u2014 its JV with Abu Dhabi National Oil Company \u2014 to Adnoc for AED 13.28 bn (USD 3.62 bn), with the acquisition expected to close later this year. The two companies also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/c1b11e94-533d-4af4-984c-ed48fd056c83\/adnoc-becomes-a-majority-shareholder-in-fertiglobe\" style=\"\" rel=\"noopener\">inked an MoU<\/a> to explore importing and distributing ammonia in the EU in December, including through investments in decarbonization and product distribution projects in North America and Europe. OCI is also considering offering its US crop nutrient unit Iowa Fertilizers to Adnoc for more than USD 3 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the plant: <\/strong>OCI\u2019s Texas facility is one of the biggest blue ammonia projects under construction in the world with an expected capacity of 1.1 mn tons per annum. The plant is set to begin production next year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Blue ammonia investment is a growing trend amongst big oil:<\/strong> Woodside \u2014 aiming to become a \u201cglobal LNG powerhouse\u201d \u2014 is following the global trend of big oil companies aiming to offset their emissions by investing in blue ammonia facilities. ExxonMobil, Saudi Aramco, and Abu Dhabi National Oil Company are amongst those who are riding this trend, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/f5c38b8f-574d-4a32-9511-8e8e355faec4\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports. Shell\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/28ab2308-1429-4cde-9518-571e0b4f7951\/waste-management-and%253cmark%253e-blue-ammonia%253c%2Fmark%253e-updates-from-egypt-and-oman\" style=\"\" rel=\"noopener\">Blue Horizons low-carbon hydrogen and ammonia project<\/a> entered its pre front-end engineering design (FEED) phase this year in July, while the first phase of Aramco\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/3cc382bd-a12c-4d64-9d39-4e16de4f54e1\/feed-scope-complete-for-world%25e2%2580%2599s-largest-carbon-capture-hub-in-saudi\" style=\"\" rel=\"noopener\">Accelerated Carbon Capture and Sequestration project<\/a>, which it plans to use for blue hydrogen production, completed its FEED scope a month earlier. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Uh, Enterprise, what is blue ammonia? <\/strong>Blue ammonia is produced by combining nitrogen and hydrogen through a low-carbon process using captured carbon dioxide, according to <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/business\/energy\/what-is-blue-ammonia-1.1229125#:~:text=Blue%20ammonia%20is%20seen%20as,heavy%20road%20transport%20and%20shipping.\" style=\"\" rel=\"noopener\">The National<\/a>. Because the process is coupled with carbon capture, blue ammonia reduces emissions by over 90%, according to <a target=\"_blank\" href=\"https:\/\/www.woodplc.com\/insights\/blogs\/Emerging-role-of-blue-and-green-ammonia-in-decarbonisation\" style=\"\" rel=\"noopener\">Wood<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>Nassef Sawiris \u2014 who owns a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/12a65d3c-3825-47d2-9a57-75f7f7a96829\/today:%253cmark%253e-sawiris%253c%2Fmark%253e%25e2%2580%2599-backed-oci-global-signs-an-offtake-agreement-with-us-green-hydrogen-developer-new-fortress-energy\" style=\"\" rel=\"noopener\">38.8% stake in the firm<\/a> \u2014 said he was considering <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/43def9e6-cf20-4971-9508-8d1e11becc17\/brazilian-president-lula-is-meeting-el-sisi-later-today\" style=\"\" rel=\"noopener\">overhauling OCI<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/43def9e6-cf20-4971-9508-8d1e11becc17\/brazilian-president-lula-is-meeting-el-sisi-later-today\" style=\"\" rel=\"noopener\">GlobaI<\/a> in February, including potentially turning the empire into a cash-shell company pursuing acquisitions in new industries. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/fertiglobe\/\">Fertiglobe<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/green-ammonia\/\">Green ammonia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"94547\" 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=\"94547\">\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\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/abu-dhabis-annual-inflation-reaches-1-1-in-2q\/\">\r\n                            Abu Dhabi\u2019s annual inflation reaches 1.1% in 2Q                        <\/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\/06\/abu-dhabis-annual-inflation-reaches-1-1-in-2q\/\" 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\/06\/abu-dhabis-annual-inflation-reaches-1-1-in-2q\/')\">\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\/06\/abu-dhabis-annual-inflation-reaches-1-1-in-2q\/\">\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=Abu Dhabi\u2019s annual inflation reaches 1.1% in 2Q&url=https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/abu-dhabis-annual-inflation-reaches-1-1-in-2q\/\">\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\/06\/abu-dhabis-annual-inflation-reaches-1-1-in-2q\/&title=Abu Dhabi\u2019s annual inflation reaches 1.1% in 2Q\">\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=Abu+Dhabi%E2%80%99s+annual+inflation+reaches+1.1%25+in+2Q+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F08%2F06%2Fabu-dhabis-annual-inflation-reaches-1-1-in-2q%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\/06\/abu-dhabis-annual-inflation-reaches-1-1-in-2q\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/426.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"94548\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/abu-dhabis-annual-inflation-reaches-1-1-in-2q\/426-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/426.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"426.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/426.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/426.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-94547\" class=\"content-area-description single-story post-94547 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-abu-dhabi tag-economy tag-enterpriseam-uae tag-inflation 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\/.6117b073-73c3-43ad-a3d8-0b29cf77d280.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Annual 2Q inflation in Abu Dhabi inched up slightly to 1.1%<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/346.jpg\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/346.jpg\" style=\"\" rel=\"noopener\">figures<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/346.jpg\" style=\"\" rel=\"noopener\">(pdf)<\/a> from the Abu Dhabi Statistics Center. This is a slight increase compared to the 0.8% recorded in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/cc58249f-2a8a-40ed-8519-f340a359ce81\/abu-dhabi%25e2%2580%2599s-annual-1q%253cmark%253e-inflation%253c%2Fmark%253e-hit-0.8%2525\" style=\"\" rel=\"noopener\">1Q 2024<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The culprits:<\/strong> Health costs rose 5.9%, alongside increases in clothing (4.5%) and ins. and financial services (4.2%). Meanwhile, decreases in prices of recreation (-2.6%), communications (-1.0%), and hospitality (-0.2%) helped offset inflationary pressures.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a q-o-q basis<\/strong>, Abu Dhabi\u2019s inflation rose to 0.6% in 2Q 2024, after slowing 0.6% in 1Q 2024 according to the statistics center\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/347.jpg\" style=\"\" rel=\"noopener\">figures (pdf)<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi\/\">Abu Dhabi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/economy\/\">Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/inflation\/\">inflation<\/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=\"94549\" 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=\"94549\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/and-more-earnings\/\">\r\n                            And more earnings\u2026                        <\/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\/06\/and-more-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(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/and-more-earnings\/')\">\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\/06\/and-more-earnings\/\">\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=And more earnings\u2026&url=https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/and-more-earnings\/\">\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\/06\/and-more-earnings\/&title=And more earnings\u2026\">\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=And+more+earnings%E2%80%A6+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F08%2F06%2Fand-more-earnings%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\/06\/and-more-earnings\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/434.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"94550\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/and-more-earnings\/434-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/434.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"434.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/434.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/434.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-94549\" class=\"content-area-description single-story post-94549 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-adnoc tag-adnoc-drilling tag-earnings-watch tag-enterpriseam-uae tag-orient-insurance tag-orient-takaful 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\/.01c2972b-3f19-4d9a-b3f1-f10462a35d75.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">ADNOC DRILLING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Adnoc Drilling saw its net income increase 29% y-o-y to USD 295 mn in 2Q<\/strong><strong> 2024<\/strong>, according to the drilling company\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/330.pdf\" style=\"\" rel=\"noopener\">financials (pdf)<\/a>. Revenues also climbed 29% y-o-y to USD 935.4 mn on the back of growth across its business segments, according to a separate <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/331.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 1H basis:<\/strong> Adnoc Drilling\u2019s bottom line grew 28% y-o-y to USD 569.6 mn in 1H 2024. The company posted USD 1.82 bn in revenues for the period, up 26% y-o-y. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead:<\/strong> The company expects to benefit from the AI and tech acquisitions by Enersol \u2014 its JV with Alpha Dhabi Holding \u2014 which it expects will boost access to advanced technology and shareholder returns. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dividends:<\/strong> Adnoc Drilling\u2019s board approved interim dividends of USD 394 mn for 1H 2024, set to be distributed in the last week of August. The dividends mark a 10% y-o-y increase, in line with its upgraded dividend policy, which will see it boost dividends every year by 10% y-o-y until 2028. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> PRESIGHT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Data analytics firm Presight saw its bottom line grow 20% y-o-y to AED 80.5 mn<\/strong>, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/430.pdf\" style=\"\" rel=\"noopener\">financials (pdf)<\/a>. The company\u2019s revenues increased 18.7% y-o-y to AED 341.4 mn, on the back of a boost in multi-year contracts, a favorable deployment mix, and one-month contribution from AIQ, in which it <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/9b2de8cb-b4dd-460e-9d54-3fd1576c047b\/presight-completes-acquisition-of%253cmark%253e-aiq%253c%2Fmark%253e-for-usd-350-mn\" style=\"\" rel=\"noopener\">acquired<\/a> a 51% stake in June for USD 350 mn, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/431.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>In 1H 2024<\/strong>, the company\u2019s net income increased 26.6% y-o-y to AED 176.4 mn, while revenues grew 17.4% y-o-y to AED 603.5 mn. <\/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\">ORIENT INS.-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Orient Ins. saw its bottom line fall 25.8% y-o-y in 2Q 2024 to AED 115.2 mn, <\/strong>according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/383.pdf\" style=\"\" rel=\"noopener\">financial statements (pdf)<\/a>. Revenues were up 14.6% y-o-y at AED 1.81 bn during the quarter. On a six-month basis, Orient\u2019s net income grew 10.2% y-o-y to AED 415.5 mn in 1H 2024, while revenues grew 21% y-o-y to AED 3.6 bn.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adnoc\/\">Adnoc<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adnoc-drilling\/\">Adnoc Drilling<\/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\/orient-insurance\/\">Orient Insurance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/orient-takaful\/\">Orient Takaful<\/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=\"94551\" 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=\"94551\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/drake-and-scull-names-new-chair-and-vice\/\">\r\n                            Drake and Scull names new chair and vice                        <\/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\/06\/drake-and-scull-names-new-chair-and-vice\/\" 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\/06\/drake-and-scull-names-new-chair-and-vice\/')\">\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\/06\/drake-and-scull-names-new-chair-and-vice\/\">\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=Drake and Scull names new chair and vice&url=https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/drake-and-scull-names-new-chair-and-vice\/\">\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\/06\/drake-and-scull-names-new-chair-and-vice\/&title=Drake and Scull names new chair and vice\">\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=Drake+and+Scull+names+new+chair+and+vice+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F08%2F06%2Fdrake-and-scull-names-new-chair-and-vice%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\/06\/drake-and-scull-names-new-chair-and-vice\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/881.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"94552\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/drake-and-scull-names-new-chair-and-vice\/881-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/881.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"881.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/881.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/881.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-94551\" class=\"content-area-description single-story post-94551 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-dfm tag-drake-and-scull tag-enterpriseam-uae tag-moves wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.2985f857-6042-4fa3-8c1f-9d1192f43831.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Dubai-based developer <strong>Drake and Scull<\/strong> named <strong>Sheikh Theyab bin Tahnoon bin <\/strong><strong>Mohammed Al Nahyan<\/strong> as <strong>chairman<\/strong> and Engineer Abdullah Atatreh (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/abdullahatatreh\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as <strong>vice chairman<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/350.pdf\" style=\"\" rel=\"noopener\">DFM disclosure (pdf)<\/a>. Sheikh Theyab also heads the board of Gulf Navigation, while Atatreh serves as the vice chairman and managing director at Tabarak Investment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Drake and Scull returned to the DFM in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/a6b32db8-aa7b-404f-aa69-83403a0c9051\/this-morning:-sidara-makes-final-play-for-wood-group-%2B-president-in-china#:~:text=Drake%20%26%20Scull%20is%20back%20on%20the%20DFM%3A%20Dubai%E2%80%93based%20Drake%20%26%20Scull%20re%2Dlisted%20its%20shares%20on%20the%20Dubai%20Financial%20Market%20(DGF)%20yesterday%20following%20a%20five%2Dyear%20hiatus.%20Shares%20soared%20as%20much%20as%2030%25%20in%20trading%20before%20closing%20up%2024%25%20at%20AED%200.31.\" style=\"\" rel=\"noopener\">May<\/a>, after being suspended from trading in November 2018 due to excessive financial losses and reporting violations. The firm was re-listed after it completed its restructuring after raising AED 450 mn in a capital increase, which saw the contractor write off over AED 4.18 bn in accumulated debt. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dfm\/\">DFM<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/drake-and-scull\/\">Drake and Scull<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"94553\" 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=\"94553\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">UAE IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/a-fintech-revolution-in-abu-dhabi-the-impact-of-boycotts-on-earnings\/\">\r\n                            A fintech revolution in Abu Dhabi? + The impact of boycotts on 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\/06\/a-fintech-revolution-in-abu-dhabi-the-impact-of-boycotts-on-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(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/a-fintech-revolution-in-abu-dhabi-the-impact-of-boycotts-on-earnings\/')\">\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\/06\/a-fintech-revolution-in-abu-dhabi-the-impact-of-boycotts-on-earnings\/\">\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=A fintech revolution in Abu Dhabi? + The impact of boycotts on earnings&url=https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/a-fintech-revolution-in-abu-dhabi-the-impact-of-boycotts-on-earnings\/\">\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\/06\/a-fintech-revolution-in-abu-dhabi-the-impact-of-boycotts-on-earnings\/&title=A fintech revolution in Abu Dhabi? + The impact of boycotts on earnings\">\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=A+fintech+revolution+in+Abu+Dhabi%3F+%2B+The+impact+of+boycotts+on+earnings+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F08%2F06%2Fa-fintech-revolution-in-abu-dhabi-the-impact-of-boycotts-on-earnings%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\/06\/a-fintech-revolution-in-abu-dhabi-the-impact-of-boycotts-on-earnings\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/433.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"94554\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/a-fintech-revolution-in-abu-dhabi-the-impact-of-boycotts-on-earnings\/433-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/433.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"433.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/433.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/433.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-94553\" class=\"content-area-description single-story post-94553 post type-post status-publish format-standard has-post-thumbnail hentry category-uae-in-the-news tag-abu-dhabi tag-americana tag-enterpriseam-uae tag-fintech tag-hub71 tag-uae-in-the-news wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.cef79604-165b-4b75-93f7-5648666baba3.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the rising role of fintech in Abu Dhabi + boycotts: <\/strong><a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/08\/05\/world\/video\/abu-dhabi-fintech-mme-spc-intl\" style=\"\" rel=\"noopener\">CNN (watch, runtime, 5:33)<\/a> spotlights the role Abu Dhabi\u2019s fintech sector plays in its goal to diversify the economy, with startup ecosystem Hub71 being at the heart of this push. Meanwhile, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/a2ee3452-ed34-45a1-8515-a88841c9ed31#:~:text=Americana%20Restaurants%2C%20which%20is%20owned%20by%20the%20Saudi%20sovereign%20wealth%20fund%20and%20Dubai%2Dbased%20investor%20Mohamed%20Alabbar%2C%20on%20Tuesday%20said%20its%20second%2Dquarter%20profits%20were%20down%2040%20per%20cent%20compared%20with%20the%20same%20period%20last%20year%2C%20despite%20opening%2081%20restaurants%20in%20the%20first%20half%20of%20this%20year.\" style=\"\" rel=\"noopener\">Financial Times<\/a> is looking at the impact of \u201cunprecedented\u201d boycotts by consumers in Muslim-majority countries amid Israel\u2019s war in Gaza on companies operating in the region, including <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/91f1abba-d020-41ec-802f-021644d17932\/more-2q-earnings#:~:text=Americana%20Restaurants%20saw,to%20boost%20revenues.\" style=\"\" rel=\"noopener\">Americana<\/a>. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi\/\">Abu Dhabi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/americana\/\">Americana<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/fintech\/\">fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/hub71\/\">Hub71<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/uae-in-the-news\/\">UAE IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"94555\" 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=\"94555\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/g42-subsidiary-launches-new-arabic-llm\/\">\r\n                            G42 subsidiary launches new Arabic LLM                        <\/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\/06\/g42-subsidiary-launches-new-arabic-llm\/\" 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\/06\/g42-subsidiary-launches-new-arabic-llm\/')\">\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\/06\/g42-subsidiary-launches-new-arabic-llm\/\">\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=G42 subsidiary launches new Arabic LLM&url=https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/g42-subsidiary-launches-new-arabic-llm\/\">\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\/06\/g42-subsidiary-launches-new-arabic-llm\/&title=G42 subsidiary launches new Arabic LLM\">\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=G42+subsidiary+launches+new+Arabic+LLM+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F08%2F06%2Fg42-subsidiary-launches-new-arabic-llm%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\/06\/g42-subsidiary-launches-new-arabic-llm\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1083.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"94556\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/g42-subsidiary-launches-new-arabic-llm\/1083-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1083.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1083.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1083.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1083.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-94555\" class=\"content-area-description single-story post-94555 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-ai tag-also-on-our-radar tag-banking tag-employment tag-energy tag-enterpriseam-uae tag-g42 tag-lamcy-plaza tag-ma tag-real-estate tag-sports 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\/.d18348b0-03f0-4776-9b7b-09e953fc898e.mp3\"><\/audio><\/figure><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>G42 subsidiary unveils its latest Arabic LLM: <\/strong>AI developer and subsidiary of G42 Inception launched Jais 70B, its latest Arabic large language model (LLM), featuring 70 bn model parameters, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b4is8xa-g42-launches-jais-70b-other-models-champion-arabic\" style=\"\" rel=\"noopener\">Wam<\/a> reports. Arabic LLMs aim to accelerate the deployment of generative AI in industries like customer service, content creation, and data analysis, among others. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong>Parameters in machine learning are variables learned by the AI model during training, which improves its input mapping and output predictions.<\/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\">M&A-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Lamcy Plaza building is up for grabs \u2014 again: <\/strong>The former Lamcy Plaza shopping center in Dubai has been listed for sale for a base price of AED 199.5 mn, an Emirates Auction <a target=\"_blank\" href=\"https:\/\/www.emiratesauction.com\/auctions\/properties\/15034\/9\/commercial-mall\" style=\"\" rel=\"noopener\">listing<\/a> shows. Potential bidders, however, might wait for the price to go down before showing interest, an industry source told <a target=\"_blank\" href=\"https:\/\/gulfnews.com\/business\/property\/dubais-lamcy-plaza-mall-building-seeks-new-owner-for-dh1995m-as-auction-process-revives-1.1722832074835\" style=\"\" rel=\"noopener\">Gulf News<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The Lamcy Plaza \u2014 which has been vacant since a 2017 fire \u2014 went on auction in <a target=\"_blank\" href=\"https:\/\/www.agbi.com\/retail\/2024\/05\/fire-hit-dubai-shopping-mall-fails-to-attract-auction-bids\/\" style=\"\" rel=\"noopener\">May<\/a> for AED 200 mn, but failed to attract any bidders.<\/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\">EMPLOYMENT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FutureSkills4All initiative coming to Dubai public employees: <\/strong>The Dubai Government Human Resources Department has joined the FutureSkills4All initiative to roll out training programs for the emirate\u2019s government employees, providing them with needed career-relevant and digital skills, an official <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2024\/august\/05-08\/dghr\" style=\"\" rel=\"noopener\">statement<\/a> showed. Tech giants such as Google, Meta, and IBM will be providing free training under the initiative.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About FutureSkills4All:<\/strong> The initiative was launched last year by UAE\u2019s Mohammed bin Rashid Al Maktoum Knowledge Foundation, the UN Development Programme, and US online learning platform Coursera to enhance digital skills in Arab countries.<\/p>\n<p class=\"tag-border-left\">SPORTS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Palms Sports renews gov\u2019t contract: <\/strong>Abu Dhabi-based sports management company Palms Sports renewed its strategic partnership with an unnamed government entity for two more years under a AED 49.5 mn contract, it said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/8\/379.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>. The partnership was formed in 2015 to ramp up national capabilities in sports. The company offers specialized training in Jiu-Jitsu and self-defense, delivered by a group of 60 coaches.<\/p>\n<p class=\"tag-border-left\">ENERGY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ewec extends clean energy partnership with Mediclinic:<\/strong> Emirates Water and Electricity Company (Ewec) extended its clean energy partnership with UAE-based healthcare provider <a target=\"_blank\" href=\"https:\/\/www.mediclinic.ae\/en\/corporate\/home.html\" style=\"\" rel=\"noopener\">Mediclinic Middle East<\/a>, it said in a <a target=\"_blank\" href=\"https:\/\/www.ewec.ae\/en\/media\/press-release\/ewec-and-mediclinic-middle-east-extend-clean-energy-partnership\" style=\"\" rel=\"noopener\">statement<\/a>. Under the agreement, Ewec will continue to provide electricity fully generated from certified clean energy sources to all of Mediclinic\u2019s advanced facilities in Abu Dhabi.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/employment\/\">employment<\/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\/g42\/\">G42<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/lamcy-plaza\/\">Lamcy Plaza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma\/\">M&amp;A<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/real-estate\/\">Real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/sports\/\">Sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/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=\"94557\" 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=\"94557\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/optimism-over-cryptocurrencies-sours-as-btc-eth-plummet-amid-stock-market-slump\/\">\r\n                            Optimism over cryptocurrencies sours as BTC, ETH plummet amid stock market slump                        <\/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\/06\/optimism-over-cryptocurrencies-sours-as-btc-eth-plummet-amid-stock-market-slump\/\" 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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BTC had tumbled by 8.9% over the last 24 hours as of midnight yesterday, while the second largest cryptocurrency ETH fell 11.9% in the same period, marking some of the largest single-day drops seen in years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">This souring of sentiment marks a sharp reversal of the optimism that had recently<\/strong><strong style=\"background-color: transparent;\"> permeated crypto markets<\/strong><span style=\"background-color: transparent;\"> following the US Securities and Exchange Commission in January approving ETFs that track the spot prices of <\/span><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ff7c363c-9225-49b1-8a2b-d55b6ce8203d\" rel=\"noopener\">BTC<\/a><span style=\"background-color: transparent;\"> and <\/span><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/abf86bcb-7429-4020-9e6a-665fb475923e\/crypto-gains-on-etf-optimism\" rel=\"noopener\">ETH<\/a><span style=\"background-color: transparent;\">. Crypto also got a boost last month as US presidential candidates Donald Trump and Kamala Harris <\/span><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e8c514af-4682-4b90-9c06-72e3a8b907e7\/usd-820-mn-tranche-lands-in-state-coffers-after-imf-rubber-stamp-third-review\" rel=\"noopener\">jockeyed to position themselves<\/a><span style=\"background-color: transparent;\"> as the \u201cpro-crypto\u201d candidate. Trump\u2019s appearance at the BTC 2024 convention even pushed BTC above <\/span><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/bitcoin-falls-569-58987-2024-08-04\/\" rel=\"noopener\">USD 70k<\/a><span style=\"background-color: transparent;\"> for the first time in over a month \u2014 despite his one-time <\/span><a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/business-57392734\" rel=\"noopener\">branding<\/a><span style=\"background-color: transparent;\"> of the cryptocurrency as a \u201cscam.\u201d<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Your reminder that crypto is not a safe haven: <\/strong>While crypto\u2019s fall is largely the result of <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/livecoverage\/stock-market-today-dow-sp500-nasdaq-live-08-05-2024\/card\/bitcoin-and-ether-prices-take-a-beating-too-ZXEEzWbj5GM8MW6Y9Qom\" style=\"\" rel=\"noopener\">the<\/a><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/livecoverage\/stock-market-today-dow-sp500-nasdaq-live-08-05-2024\/card\/bitcoin-and-ether-prices-take-a-beating-too-ZXEEzWbj5GM8MW6Y9Qom\" style=\"\" rel=\"noopener\">same pressures<\/a> that are impacting assets everywhere, its risk profile makes it particularly susceptible to market downturn. \u201cIt's a big reminder that BTC and crypto in general are risk assets and sit at the pointy end of the risk spectrum,\u201d market analyst at IG Tony Sycamore tells <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/bitcoin-falls-569-58987-2024-08-04\/\" style=\"\" rel=\"noopener\">Reuters<\/a>.<\/p>\n<p><a target=\"_blank\" id=\"t.b7afe6fb49234380760a46e473c3681bf7d3e0aa\" 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-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>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\">8,975<\/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\">-3.4% (YTD: -6.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,046<\/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\">-4.5% (YTD: -0.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">3,498<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-5.4% (YTD: -9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : AED<\/strong><strong> CBUAE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 3.67<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 3.67<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EIBOR<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.1% 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\">4.8% 1 yr<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,504<\/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\">-2.1% (YTD: -4.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">27,841<\/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\">-2.3% (YTD: +11.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,186<\/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\">-3.0% (YTD: +8.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">8,008<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.0% (YTD: +3.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,572<\/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\">-1.5% (YTD: +1.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 77.33<\/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\">+1.7%<\/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>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 1.94<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,444<\/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%<\/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 53,920<\/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\">-8.9% (YTD: +27.3%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The DFM fell 4.5% yesterday<\/strong> on turnover of AED 643.6 mn. The index is down 0.3% 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>Depa (+14.9%)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Agility (-9.9%), National International Holding Company (-9.9%) and Al Firdous Holdings (-9.8%). <\/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>, fell 3.4% on turnover of 1.04 bn. Meanwhile Nasdaq Dubai fell 5.4%<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/cryptocurrency\/\">cryptocurrency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"94559\" 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\/06\/94559-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-94559\" class=\"content-area-description single-story post-94559 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;\">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=\"font-weight:400;\">, 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> 11-13 December (Friday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/euroarabmed.com\/\" style=\"\">European-Arab Medical 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 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\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> 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