{"id":95947,"date":"2024-09-19T00:00:00","date_gmt":"2024-09-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=95947"},"modified":"2025-12-15T01:29:20","modified_gmt":"2025-12-15T01:29:20","slug":"cbuae-follows-feds-lead-with-first-in-a-series-of-rate-cuts","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/cbuae-follows-feds-lead-with-first-in-a-series-of-rate-cuts\/","title":{"rendered":"CBUAE follows Fed\u2019s lead with first in a series of rate cuts"},"content":{"rendered":"<section id=\"95949\" 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=\"95949\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">WHAT WE\u2019RE TRACKING TODAY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/09\/19\/this-morning-president-set-to-make-first-us-visit-next-week-private-firms-will-soon-need-to-have-at-least-one-woman-on-bod\/\">\r\n                            THIS MORNING: President set to make first US visit next week + private firms will soon need to have at least one woman on BoD                        <\/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\/09\/19\/this-morning-president-set-to-make-first-us-visit-next-week-private-firms-will-soon-need-to-have-at-least-one-woman-on-bod\/\" 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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It\u2019s also a big day on the M&A front, with Brookfield and FAB\u2019s acquisition of Network going through, and PJT Partners agreeing to acquire Dubai advisory firm DeNovo Partners. Without further ado, let\u2019s dive in. <\/p>\n<p class=\"tag-border-left\"> HAPPENING NEXT WEEK- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>President Sheikh Mohamed bin Zayed Al Nahyan will make his first official visit to the US <\/strong><strong>next Monday<\/strong>, state news agency <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b58zc9r-uae-president-begin-official-visit-monday\" style=\"\" rel=\"noopener\">Wam<\/a> reports. Al Nahyan is scheduled to meet with US President Joe Biden to discuss bilateral ties, including cooperation on economy, investment, technology, AI, space, and renewables and climate action, Wam said. Al Nahyan is also set to meet separately with Vice President and presidential hopeful Kamala Harris. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Topics on the agenda will also include the wars in Gaza and Sudan<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/biden-discuss-gaza-sudan-ai-with-uae-president-monday-spokesperson-says-2024-09-18\/\" style=\"\" rel=\"noopener\">Reuters<\/a> quotes White House spokesperson John Kirby as saying. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- The US and the UAE have a budding AI partnership<\/strong> that just got a boost this week, with reports that Nvidia has begun to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/5c5c848e-6608-47a6-8164-b528e678f6ad\/nvidia-chips-make-their-way-to-the-uae\" style=\"\" rel=\"noopener\">send its chips our way<\/a> as a marker of the start of an important phase in the partnership between Microsoft and state-owned AI firm G42. <\/p>\n<p class=\"tag-border-left\"> WATCH THIS SPACE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a><strong> #1- Private companies must reserve at least one seat for women on their boards of <\/strong><strong>directors starting January 2025<\/strong>, as per a new decision from the UAE Economy Ministry, according to a Dubai's Media Office <a target=\"_blank\" href=\"https:\/\/mediaoffice.ae\/en\/news\/2024\/september\/18-09\/ministry-of-economy\" style=\"\" rel=\"noopener\">statement<\/a>. Companies will be required to meet the quota following the end of their current board\u2019s term. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>The Securities and Commodities Authority <a target=\"_blank\" href=\"https:\/\/www.sca.gov.ae\/en\/media-center\/news\/14\/3\/2021\/board-of-directors-of-sca-approves-the-obligation-of-listed-companies-to-represent-women-in-the.aspx\" style=\"\" rel=\"noopener\">made it mandatory<\/a> for listed companies to have at least one woman on their board in 2021.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#2- The UAE and Japan have agreed to launch negotiations for an economic partnership <\/strong><strong>agreement<\/strong>, in a bid to ramp up UAE-Japan bilateral economic relations, President Mohamed bin Zayed Al Nahyan <a target=\"_blank\" href=\"https:\/\/twitter.com\/MohamedBinZayed\/status\/1836285545153982734\" style=\"\" rel=\"noopener\">said on X<\/a>. Japanese Prime Minister Fumio Kishida also confirmed the news in an <a target=\"_blank\" href=\"https:\/\/twitter.com\/kishida230\/status\/1836283563349553210\" style=\"\" rel=\"noopener\">X post<\/a>. Negotiations will come in parallel with talks over a wider GCC agreement, <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE-Japan relations have been growing stronger:<\/strong> Earlier in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/941e70de-fc8c-46b6-b265-0679ace6cf51\/japan-and-uae-boost-energy-security-ties-%2B-president-phones-new-uk-pm,-kenyan-president\" style=\"\" rel=\"noopener\">July<\/a>, UAE Ministers met with Japan\u2019s Kishida to discuss bilateral economic ties and progress on projects under their strategic partnership. Multiple MoUs were signed during the visit, with Adnoc and Japan Bank for International Cooperation sealing a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ea25b342-6692-44fa-b175-3a837124d229\/%253cmark%253eadnoc%253c%2Fmark%253e-secures-usd-3-bn-green-finance-facility-from-jbic\" style=\"\" rel=\"noopener\">USD 3 bn green financing loan<\/a> to advance Adnoc\u2019s low-carbon ambitions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Trade agreement with the EU coming?<\/strong> The EU is reportedly considering pursuing a trade agreement with the UAE as negotiations for a separate agreement with the GCC stalls, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-09-18\/eu-to-seek-trade-pact-with-uae-as-talks-with-gulf-region-stall\" style=\"\" rel=\"noopener\">Bloomberg<\/a> cites people familiar with the matter as saying. The caveat would be finding an arrangement that would not affect the wider GCC agreement, and would not upset other countries in the GCC, sources said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#3-<\/strong> <strong>Sharjah will issue an AI-powered trade license that takes five minutes to process<\/strong>, in partnership with Microsoft, state news agency <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b58zc14-sharjah-introduces-world%E2%80%99s-first-ai-powered-trade\" style=\"\" rel=\"noopener\">Wam<\/a> reports. Announced at the Sharjah Investment Forum, the license will first be available through the Sharjah Investor Services Center (Saeed) and SPC Free Zone, and will later cover other freezones across Sharjah. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- The UAE plans to review its 2050 energy strategy in five years<\/strong>, focusing on advancements in hydrogen, battery technology and energy storage, Undersecretary for Energy and Petroleum Affairs Sharif Al Olama told CNBC Arabia <a target=\"_blank\" href=\"https:\/\/www.cnbcarabia.com\/128257\/2024\/18\/09\/%D9%88%D9%83%D9%8A%D9%84-%D9%88%D8%B2%D8%A7%D8%B1%D8%A9-%D8%A7%D9%84%D8%B7%D8%A7%D9%82%D8%A9-%D9%88%D8%A7%D9%84%D8%A8%D9%86%D9%8A%D8%A9-%D8%A7%D9%84%D8%AA%D8%AD%D8%AA%D9%8A%D8%A9-%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA%D9%8A%D8%A9-%D9%84%D8%B4%D8%A4%D9%88%D9%86-%D8%A7%D9%84%D8%B7%D8%A7%D9%82%D8%A9-%D9%88%D8%A7%D9%84%D8%A8%D8%AA%D8%B1%D9%88%D9%84-%D9%84%D9%80-CNBC-%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9:-%D8%A7%D9%84%D8%B7%D8%A7%D9%82%D8%A9-%D8%A7%D9%84%D8%A5%D9%86%D8%AA%D8%A7%D8%AC%D9%8A%D8%A9-%D9%84%D9%84%D8%B7%D8%A7%D9%82%D8%A9-%D8%A7%D9%84%D9%85%D8%AA%D8%AC%D8%AF%D8%AF%D8%A9-%D8%A8%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D8%AA%D8%A8%D9%84%D8%BA-%D8%AD%D8%A7%D9%84%D9%8A%D8%A7%D9%8B-6-%D8%BA%D9%8A%D8%BA%D8%A7%D9%88%D8%A7%D8%B7\" style=\"\" rel=\"noopener\">(watch, runtime 2:20)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The country\u2019s renewable energy production capacity has reached 6 GW<\/strong>, nearly half of its target of 14.2 GW by 2030. The UAE plans to invest more than USD 50 bn in renewable and clean energy over the next six years, building on the USD 45 bn already invested in the past 15 years.<\/p>\n<p class=\"tag-border-left\"> HAPPENING TODAY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- We have another hot and sunny day in Dubai<\/strong> with a peak of 36\u00b0C and overnight low of 30\u00b0C. Over in <strong>Abu Dhabi<\/strong>, the mercury is set to hit 37\u00b0C before cooling to 32\u00b0C in the evening.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/itsworldcongress.com\/\" style=\"\" rel=\"noopener\">Intelligent Transport Systems World Congress 2024<\/a><\/strong><strong> is on its third day today, and will run until<\/strong><strong> Friday, 20 September <\/strong>in Dubai. The congress is expected to welcome 20k participants to explore innovations in smart mobility and transportation technology.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/sharjahinvestmentforum.ae\/\" style=\"\" rel=\"noopener\">Sharjah Investment Forum<\/a><\/strong><strong> ends today <\/strong>at the Jawaher Reception and Convention Centre in Sharjah. Discussions will span across investments in emerging markets and in the UAE, smart cities and economies, and more.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Forbes\u2019 <\/strong><strong><a target=\"_blank\" href=\"https:\/\/forbesmiddleeastevents.com\/healthcare-summit-2024\/\" style=\"\" rel=\"noopener\">Healthcare Leaders Summit 2024<\/a><\/strong><strong> will take place today and tomorrow<\/strong> at the St. Regis Saadiyat Island Resort, Abu Dhabi. The event gathers healthcare leaders from across the region to discuss innovation in healthcare and sustainability in the industry. <\/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>D<\/strong><strong>ubai, Abu Dhabi, and Sharjah are on track to see 150% more centi-m\u2019naires \u2014 individuals with more than USD 100 mn in liquid assets \u2014 between now and 2040<\/strong>, according to British consultant company Henley and Partners\u2019 <a target=\"_blank\" href=\"https:\/\/www.henleyglobal.com\/publications\/centi-millionaire-report-2024\" style=\"\" rel=\"noopener\">Centi-M'naire Report 2024<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai ranked 15th globally for centi-m\u2019naires<\/strong>, hosting 212, while neighboring Abu Dhabi was positioned at 50th with 68 centi-m\u2019naires. Sharjah secured a spot in the report\u2019s <a target=\"_blank\" href=\"https:\/\/www.henleyglobal.com\/publications\/centi-millionaire-report-2024\/cities-to-watch\" style=\"\" rel=\"noopener\">\u201cCities to Watch<\/a> \u201d list, with 11 centi-m\u2019naires under its belt. <\/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\"> THE BIG STORY ABROAD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Even with everything going on in the world, the Fed\u2019s decision to cut interest rates is <\/strong><strong>topping the headlines in the international business press<\/strong>. US Federal Reserve chair Jerome Powell <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/economy\/central-banking\/fed-cuts-rates-by-half-percentage-point-03566d82\" style=\"\" rel=\"noopener\">announced<\/a> late yesterday that the Fed had voted to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/rates-bonds\/with-feds-rate-cut-hand-debate-swirls-over-how-big-move-2024-09-18\/\" style=\"\" rel=\"noopener\">lower<\/a> interest rates by half a percentage point in its first rate cut since 2020, bringing the benchmark federal funds rate to between 4.75% and 5%. In its statement on the decision, the Fed noted that the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/bff9e6d8-8906-4b3d-9ff3-72b091b6cd9e\" style=\"\" rel=\"noopener\">decision<\/a> reflects \u201cgreater confidence that inflation is moving sustainably toward 2%.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gulf policymakers <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-09-18\/gulf-central-banks-follow-fed-cut-as-oil-prices-drop-toward-70?srnd=homepage-middle-east&embedded-checkout=true\" style=\"\" rel=\"noopener\">followed suit<\/a><\/strong><strong> late yesterday<\/strong>, with the central banks of Saudi Arabia, the UAE, and Bahrain lowering their interest rates by 50 basis points, Qatar lowering rates 55 points, and Kuwait lowering rates by 25 basis points.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** We\u2019ve got the complete rundown of the Fed\u2019s decision to cut rates, what happens next, <\/strong><strong>and how the market reacted in our Planet Finance section, below.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WHILE IN OUR CORNER OF THE WORLD- Lebanon was hit yesterday with yet <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/defb8bf1-da0b-403a-aa4d-d27a35d54201\" style=\"\" rel=\"noopener\">another<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/defb8bf1-da0b-403a-aa4d-d27a35d54201\" style=\"\" rel=\"noopener\">set of Israeli device explosions<\/a><\/strong> as Hezbollah continues to reel from what has been described as the most significant penetration of the armed group\u2019s communication networks since the beginning of the war on Gaza. The latest set of explosions were of the group\u2019s hand-held radios, which <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israel-planted-explosives-hezbollahs-taiwan-made-pagers-say-sources-2024-09-18\/\" style=\"\" rel=\"noopener\">killed 20 and injured over 450<\/a> in Lebanon's single deadliest day since Hezbollah and Israeli forces began exchanging fire over the border nearly a year ago. The episode has further heightened fears of an escalation on the Lebanese-Israeli border, with Hezbollah secretary-general Hassan Nasrallah set to give an address today.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND OVER IN TECH NEWS- Google will not have to pay a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/f59441ee-e37f-4aa9-92a9-6f321b981e2c\" style=\"\" rel=\"noopener\">EUR 1.5 bn fine<\/a><\/strong> levied on the company by the European Commission after winning an appeal, though the court accepted the commission\u2019s assessment that the tech giant had engaged in anticompetitive practices with regard to its online advertising business. The decision marks a victory for big tech in the EU\u2019s recent antitrust crusade just as Meta <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/6e126355-eef3-46a8-875c-2480861ba38a\" style=\"\" rel=\"noopener\">comes under scrutiny<\/a> by the commission for anticompetitive practices linked to its Marketplace services, with a decision on the case \u2014 and an appropriate fine \u2014 to be decided as early as next month. <\/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\">***<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>You\u2019re reading EnterpriseAM UAE<\/strong>, your essential daily roundup of business, economics, and must-read news about the UAE, delivered straight to your inbox. We\u2019re out Monday through Friday by 7am UAE time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM UAE is available without charge <\/strong>thanks to the generous support of our friends at Mashreq.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of EnterpriseAM UAE. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to send us a story idea, request coverage, ask for a correction, or otherwise get in touch? <\/strong>Reach out to us on  <a target=\"_blank\" href=\"mailto:UAE@enterpriseAM.com\" style=\"\" rel=\"noopener\">UAE@enterpriseAM.com<\/a> .<\/p>\n<p 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<\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/09\/19\/cbuae-follows-feds-lead-with-first-rate-cut-in-years\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1532.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"95953\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/09\/19\/cbuae-follows-feds-lead-with-first-rate-cut-in-years\/1532-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1532.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1532.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1532.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1532.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-95952\" class=\"content-area-description single-story post-95952 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-central-bank-of-the-uae tag-economy tag-federal-reserve 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\/9\/.5c9c89db-bb09-42e5-8b66-228a8f64742e.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;\">The Central Bank of the UAE followed in the US Federal Reserve\u2019s footste<\/strong><strong style=\"background-color: transparent;\">ps and cut the overnight deposit rate<\/strong><span style=\"background-color: transparent;\">&nbsp;by 50 basis points, from 5.40% to 4.90%, it said in a <\/span><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/1507.pdf\" rel=\"noopener\">statement<\/a><span style=\"background-color: transparent;\"> yesterday. The CBUAE maintained the interest rate applicable to borrowing&nbsp;<\/span><span style=\"background-color: transparent;\">short-term liquidity at 50 basis points above the base rate.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The UAE\u2019s overnight deposit rate, or the base rate on overnight deposit facilities, is anchored to the US Federal Reserve\u2019s interest rates as the AED is pegged to the USD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is welcome news for GCC countries<\/strong>, who have not needed interest rates as high as the US given inflation is \u201clargely\u201d at or below 2%, chief economist at Abu Dhabi Commercial Bank Monica Malik is quoted as saying by <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-09-18\/gulf-central-banks-follow-fed-cut-as-oil-prices-drop-toward-70\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That\u2019s especially the case due to the weakening oil outlook<\/strong>, which will \u201c[increase] the funding requirement for some regional countries and for their investment programs,\u201d Malik said. Oil prices are down almost 8% this month, with Brent Crude currently trading at USD 72 a barrel. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It will take some time for banks to digest the change: <\/strong>The impact of rate cuts on GCC economies \u201cwill be limited in 2024 with time for these to feed into bank lending rates, though should be supportive in 2025 especially as the more cuts take place,\u201d Malik added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But in the long run, it will give a boost to the region\u2019s growing non-oil sectors: <\/strong>Monetary easing will further position the Middle East\u2019s non-oil sector as the main driver of growth for GCC members \u2014 particularly those with currencies tied to the USD \u2014 by improving access to credit, according to a separate <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/1518.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/1518.pdf\" style=\"\" rel=\"noopener\"><\/a> from PwC Middle East. <\/p>\n<p class=\"tag-border-left\">GROWTH FORECASTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE\u2019s non-oil sector is expected to grow at a 6% clip in 2024<\/strong>, Economy Minister Abdulla bin Touq Al Marri told <a target=\"_blank\" href=\"https:\/\/www.cnbcarabia.com\/128252\/2024\/18\/09\/%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF-%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA%D9%8A-%D9%84%D9%80-CNBC-%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9:-%D9%86%D9%85%D9%88-%D8%A7%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF-%D8%BA%D9%8A%D8%B1-%D8%A7%D9%84%D9%86%D9%81%D8%B7%D9%8A-%D9%84%D9%86%D8%AD%D9%88-6--%D9%81%D9%8A-2024\" style=\"\" rel=\"noopener\">CNBC Arabia (watch, runtime: 13:13)<\/a>. The UAE aims to boost the non-oil economy to 80% of national GDP by 2031, Al Marri added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In Sharjah<\/strong>, the non-oil economy now makes up 96% of GDP, with annual growth ranging between 4-5% annually, according to Al Marri.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OVER IN THE GCC- Next year will see GCC growth doubling:<\/strong> Economic growth in the GCC is expected to more than double in 2025 to 4.4% on the back of strong domestic activity, with interest rate reductions expected to boost consumption and private investment, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b58zbdu-gcc-economic-growth-grow-44-2025-oxford-economics\" style=\"\" rel=\"noopener\">Wam<\/a> reports, citing an Oxford Economics report. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s all about non-oil growth: <\/strong>The GCC\u2019s non-oil sector is projected to grow by 4.2% in 2024 and 4.4% in 2025, with tourism, trade, and finance sectors driving growth. \u201cThe GCC's proactive and strategic investment in non-oil sectors, alongside the gradual recovery of oil production, is paving the way for robust growth in 2025,\u201d ICAEW said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The International Monetary Fund (IMF) <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/57f9e5de-1f29-4d81-a76b-eb904fb63daa\/the-imf-now-sees-the-economy-growing-4%2525-this-year\" style=\"\" rel=\"noopener\">recently revised upward<\/a> its 2024 growth forecast for the UAE to 4%, with Fitch Solutions <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/c834b56e-00a3-41dd-8333-c9501e517901\/uae-non-oil-economy-to-slow-to-5%2525-in-2024--fitch-solutions\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/c834b56e-00a3-41dd-8333-c9501e517901\/uae-non-oil-economy-to-slow-to-5%2525-in-2024--fitch-solutions\" style=\"\" rel=\"noopener\">se<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/c834b56e-00a3-41dd-8333-c9501e517901\/uae-non-oil-economy-to-slow-to-5%2525-in-2024--fitch-solutions\" style=\"\" rel=\"noopener\">eing<\/a> the non-oil private sector slowing to 5% growth this year, and World Bank projecting an even slower 3.2% growth. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Read more about the Fed\u2019s decision in today\u2019s Planet Finance<\/strong>, below.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/central-bank-of-the-uae\/\">Central Bank of the UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/economy\/\">Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/federal-reserve\/\">Federal Reserve<\/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=\"95954\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show 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data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/968.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/968.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-95954\" class=\"content-area-description single-story post-95954 post type-post status-publish format-standard has-post-thumbnail hentry category-real-estate tag-abu-dhabi tag-aldar-properties tag-enterpriseam-uae tag-investment tag-mubadala tag-real-estate 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\/9\/.f0da5864-d04c-4dfe-8844-9c01eee3c171.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Aldar, Mubadala to develop AED 30 bn Abu Dhabi-based ass<\/strong><strong>ets: <\/strong>Abu Dhabi real estate developer Aldar Properties and wealth fund Mubadala are partnering to establish four joint ventures geared at developing and managing real estate assets \u2014 including prime residential, commercial, retail, and logistics assets \u2014 in Abu Dhabi, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/1457.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>. The projects are worth a total of AED 30 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Partnership breakdown:<\/strong> Aldar will take a controlling 60% stake in the ventures, while Mubadala will hold the remaining 40%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ventures include<\/strong>\u2026<\/p>\n<ul>\n<li>A new <strong>AED 9 bn retail platform<\/strong> consolidating Abu Dhabi\u2019s primary shopping destinations, including Yas Mall and The Galleria Luxury Collection;<\/li>\n<li>A JV for <strong>AED 3 bn worth of commercial and residential properties<\/strong> in Masdar City, housing over 400k sqm of leasable area with 95% occupancy;<\/li>\n<li>A JV to <strong>develop luxury waterfront communities on two islands<\/strong> near Saadiyat and Yas Islands, with a gross development value of <strong>AED 13 bn<\/strong>;<\/li>\n<li>A partnership to develop a <strong>AED 5 bn logistics park<\/strong> in Al Falah, near Zayed International Airport, with 1.2 mn sqm of industrial space.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aldar and Mubadala have history: <\/strong>Aldar previously acquired four <a target=\"_blank\" href=\"https:\/\/www.aldar.com\/en\/news-and-media\/aldar-properties-to-acquire-four-commercial-towers-in-adgm\" style=\"\" rel=\"noopener\">Abu Dhabi Global Market towers<\/a> from Mubadala for AED 4.3 bn back in 2022. At the end of the same year, Aldar and Mubala partnered to purchase the 25-storey <a target=\"_blank\" href=\"https:\/\/www.aldar.com\/en\/news-and-media\/aldar-and-mubadala-partner-to-acquire-grade-a-office-to-tower-on-al-maryah-island\" style=\"\" rel=\"noopener\">Al Maryah Tower<\/a>, a prime Grade A commercial office property in Al Maryah Island, for AED 450 mn. In <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/01be10fb-3c96-4d17-9b01-0834ad380021\/mubadala,%253cmark%253e-aldar%253c%2Fmark%253e,-ares-team-up-for-usd-1-bn-real-estate-fund\" style=\"\" rel=\"noopener\">December 2023<\/a>, the two sides partnered alongside Ares Management to set up a USD 1 bn private real estate fund to purchase real estate in the UK and Europe, with the funds set to be invested over the next three to five years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aldar has big expansion plans: <\/strong>The developer lined up AED 1 bn (USD 272 mn) earlier in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/9df3e049-bfc0-492c-9b05-4641bd2f67bc\/%253cmark%253ealdar%253c%2Fmark%253e-wants-to-invest-aed-1-bn-in-logistics\" style=\"\" rel=\"noopener\">Janua<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/9df3e049-bfc0-492c-9b05-4641bd2f67bc\/%253cmark%253ealdar%253c%2Fmark%253e-wants-to-invest-aed-1-bn-in-logistics\" style=\"\" rel=\"noopener\">r<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/9df3e049-bfc0-492c-9b05-4641bd2f67bc\/%253cmark%253ealdar%253c%2Fmark%253e-wants-to-invest-aed-1-bn-in-logistics\" style=\"\" rel=\"noopener\">y<\/a> to expand its logistics operations in both Abu Dhabi and Dubai, which included an acquisition of its first logistics zone in Dubai and plans to set up new logistics facilities. It later <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/c6253c58-ac88-4dc1-b496-7e2ec459275e\/%253cmark%253ealdar%253c%2Fmark%253e-boosts-commercial-portfolio-in-dubai-with-aed-1.8-bn-investments\" style=\"\" rel=\"noopener\">committed AED 1.8 bn<\/a> to ramp up its portfolio in Dubai, focusing on key business districts. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi\/\">Abu Dhabi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/aldar-properties\/\">Aldar Properties<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment\/\">investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/mubadala\/\">Mubadala<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"95956 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=\"95956\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/09\/19\/95956-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-95956\" class=\"content-area-description single-story post-95956 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.mashreq.com\/en\/uae\/neo\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1087.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"95957\" 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=\"95957\">\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\/09\/19\/pjt-partners-to-acquire-dubais-denovo\/\">\r\n                            PJT Partners to acquire Dubai\u2019s deNovo                        <\/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\/09\/19\/pjt-partners-to-acquire-dubais-denovo\/\" 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\/09\/19\/pjt-partners-to-acquire-dubais-denovo\/')\">\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\/09\/19\/pjt-partners-to-acquire-dubais-denovo\/\">\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=PJT Partners to acquire Dubai\u2019s deNovo&url=https:\/\/enterpriseam.com\/uae\/2024\/09\/19\/pjt-partners-to-acquire-dubais-denovo\/\">\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\/09\/19\/pjt-partners-to-acquire-dubais-denovo\/&title=PJT Partners to acquire Dubai\u2019s deNovo\">\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=PJT+Partners+to+acquire+Dubai%E2%80%99s+deNovo+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F09%2F19%2Fpjt-partners-to-acquire-dubais-denovo%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\/09\/19\/pjt-partners-to-acquire-dubais-denovo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/212.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"95958\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/09\/19\/pjt-partners-to-acquire-dubais-denovo\/212-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/212.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"212.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/212.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/212.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-95957\" class=\"content-area-description single-story post-95957 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-denovo tag-dubai tag-enterpriseam-uae tag-investment tag-ma tag-ma-watch tag-pjt-partners 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\/9\/.76adfc4d-9755-43f5-8fb6-4868a658ce0a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Big-shot US advisory firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.pjtpartners.com\/\" style=\"\" rel=\"noopener\">PJT Partners<\/a><\/strong><strong> will acquire Dubai\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/denovopartners.com\/\" style=\"\" rel=\"noopener\">deNovo<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/denovopartners.com\/\" style=\"\" rel=\"noopener\">Partners<\/a><\/strong> to solidify its presence in the region amid a surge in dealmaking, according to a PJT <a target=\"_blank\" href=\"https:\/\/ir.pjtpartners.com\/news-events\/press-releases\/detail\/95\/pjt-partners-enters-into-agreement-to-acquire-denovo\" style=\"\" rel=\"noopener\">press release<\/a>. The transaction is expected to close next month, subject to regulatory approvals. No details were given about the value of the transaction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The leadership will not change:<\/strong> DeNovo founder May Nasrallah (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/may-nasrallah-4b98b552?originalSubdomain=ae\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) will lead PJT\u2019s regional operations and join its senior team. Nasrallah previously led Morgan Stanley\u2019s investment banking in the region and was instrumental in setting up its Dubai office, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-09-18\/paul-taubman-s-pjt-buys-denovo-to-cash-in-on-mideast-deals-boom?embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> writes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PJT and deNovo go way back:<\/strong> The two firms signed an accord to collaborate on Middle Eastern dealmaking and restructuring back in 2020, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-07-13\/pjt-partners-taps-dubai-boutique-denovo-to-chase-mideast-deals\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported previously. The US-based investment bank and the Dubai-based boutique worked together on cross-border transactions involving major regional firms, sovereign wealth funds, and family offices, as well as advising global investors in the region.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A \u201cunion\u201d to take things to the next level: <\/strong>\u201cWe started dating four years ago, we really got along amazingly and realized we couldn\u2019t date forever. So we made it official and we are getting married,\u201d founder and CEO of PJT Paul Taubman told the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/40c0c021-5eb9-449d-bb12-08e6db2a7e63\" style=\"\" rel=\"noopener\">Financial Times<\/a>. Their partnership worked well but \u201cclients like to know that you are one firm and that you are bringing a partner of the firm rather than somebody from outside PJT into a meeting to discuss very sensitive matters,\u201d he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More on deNovo:<\/strong> Established in 2020 by a group of investment bankers, deNovo has grown into one of the Gulf\u2019s leading independent advisory firms, advising on more than 100 transactions, including the region\u2019s two largest private sector M&A transactions this year. The boutique firm now employs around 20 bankers, primarily in Dubai\u2019s financial hub, and recently secured a license to operate in Riyadh.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/denovo\/\">deNovo<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai\/\">Dubai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment\/\">investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma\/\">M&amp;A<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/pjt-partners\/\">PJT Partners<\/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=\"95959\" 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=\"95959\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/09\/19\/fab-brookfield-take-over-network\/\">\r\n                            FAB + Brookfield take over Network, to merge with Magnati                        <\/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\/09\/19\/fab-brookfield-take-over-network\/\" 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\/09\/19\/fab-brookfield-take-over-network\/')\">\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\/09\/19\/fab-brookfield-take-over-network\/\">\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=FAB + Brookfield take over Network&url=https:\/\/enterpriseam.com\/uae\/2024\/09\/19\/fab-brookfield-take-over-network\/\">\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\/09\/19\/fab-brookfield-take-over-network\/&title=FAB + Brookfield take over Network\">\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=FAB+%2B+Brookfield+take+over+Network+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F09%2F19%2Ffab-brookfield-take-over-network%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\/09\/19\/fab-brookfield-take-over-network\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/25.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"95960\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/09\/19\/fab-brookfield-take-over-network\/25-jpg-19\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/25.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"25.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/25.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/25.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-95959\" class=\"content-area-description single-story post-95959 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-brookfield tag-enterpriseam-uae tag-first-abu-dhabi-bank tag-ma-watch tag-magnati tag-network-international 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\/9\/.1a7b0f11-8df9-4756-b7d5-e4aa2a3c4af4.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>FAB + Brookfield close Network acquisition: <\/strong>First Abu Dhabi Bank (FAB) and Brookfield Asset Management, along with other co-investors, finalized their acquisition of Dubai-based payments provider <a target=\"_blank\" href=\"https:\/\/www.network.ae\/en\" style=\"\" rel=\"noopener\">Network International<\/a>, the bank said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/1418.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a>. The acquisition was completed through Bidco Holdings, a special purpose vehicle owned by Brookfield.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> After obtaining a 60% stake in FAB\u2019s payments arm, Magnati in February 2022, Brookfield put in a USD 2.76 bn <a target=\"_blank\" href=\"https:\/\/tools.eurolandir.com\/tools\/Pressreleases\/GetPressRelease\/?ID=4274538&lang=en-GB&companycode=uk-netw&v=\" style=\"\" rel=\"noopener\">non-binding bid<\/a> for Network, with FAB saying that it will co-invest in the acquisition. The Central Bank of the UAE <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/d1cda7f5-3726-43eb-91d4-b1104d9b87ed\/this-morning:-cbuae-approves-brookfield%e2%80%99s-acquisition-of-network-international-+-bring-out-your-umbrellas\" style=\"\" rel=\"noopener\">greenlit the transaction<\/a> in March. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next?<\/strong> FAB and Brookfield plan to merge their payments platform, Magnati, with Network International. Once they obtain regulatory approval, both companies will contribute their stakes in Magnati to Network Project Holdings 1, which will hold the combined business. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where\u2019s the money coming from?<\/strong> Bidco secured part of the financing for the Network acquisition through a conventional credit facility from Abu Dhabi Commercial Bank (ADCB), which acted as the agent; and an Islamic financing arrangement with Dubai Islamic Bank (DIB), where DIB served as both the investment agent and the Islamic participant, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/1417.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a>. The transaction also saw equity investments from Brookfield, which said it would invest up to USD 150 mn, and First Abu Dhabi Bank. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Brookfield\u2019s been making moves in the UAE for a while now. The global investment giant snagged a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/30a14fdf-434d-4143-822d-d34f272bae51\/%253cmark%253ebrookfield%253c%2Fmark%253e-led-consortium-to-invest-in-gems\" style=\"\" rel=\"noopener\">USD 2 bn majority stake<\/a> in Dubai private school provider Gems Education. It also acquired a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/0c9f4690-138d-455f-be67-ebdf47cf0297\/brookfield-snaps-up-controlling-stake-in-gii-warehouse-space\" style=\"\" rel=\"noopener\">controlling stake<\/a> in Gulf Islamic Investments\u2019 (GII) real estate platform. Brookfield also <a target=\"_blank\" href=\"https:\/\/bam.brookfield.com\/press-releases\/brookfield-launches-emerging-markets-transition-fund-anchor-commitment-alterra\" style=\"\" rel=\"noopener\">partnered<\/a> with the UAE government to launch the USD 30 bn climate fund, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/903e6d02-4d23-4ff4-8e58-9ea7d4ce54df#:~:text=The%20UAE%20is,the%20statement%20said.\" style=\"\" rel=\"noopener\">Alterra<\/a>, during COP28.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> PJT Partners is the financial adviser to Network for the transaction, while Citi and JP Morgan acted as both financial advisers and corporate brokers. Morgan Stanley is the financial adviser for Bidco and Brookfield.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/brookfield\/\">Brookfield<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/first-abu-dhabi-bank\/\">First Abu Dhabi Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/magnati\/\">Magnati<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/network-international\/\">Network International<\/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=\"95961\" 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=\"95961\">\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\">INVESTMENT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/09\/19\/adia-backs-polus-capitals-distressed-debt-strategy\/\">\r\n                            Adia backs Polus Capital\u2019s USD 5 bn distressed debt strategy                        <\/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\/09\/19\/adia-backs-polus-capitals-distressed-debt-strategy\/\" 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\/09\/19\/adia-backs-polus-capitals-distressed-debt-strategy\/')\">\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\/09\/19\/adia-backs-polus-capitals-distressed-debt-strategy\/\">\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 backs Polus Capital\u2019s distressed debt strategy&url=https:\/\/enterpriseam.com\/uae\/2024\/09\/19\/adia-backs-polus-capitals-distressed-debt-strategy\/\">\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\/09\/19\/adia-backs-polus-capitals-distressed-debt-strategy\/&title=Adia backs Polus Capital\u2019s distressed debt strategy\">\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+backs+Polus+Capital%E2%80%99s+distressed+debt+strategy+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F09%2F19%2Fadia-backs-polus-capitals-distressed-debt-strategy%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\/09\/19\/adia-backs-polus-capitals-distressed-debt-strategy\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/889.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"95962\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/09\/19\/adia-backs-polus-capitals-distressed-debt-strategy\/889-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/889.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"889.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/889.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/889.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-95961\" class=\"content-area-description single-story post-95961 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-abu-dhabi-investment-authority tag-enterpriseam-uae tag-investment tag-investment-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.3c2e3b9a-2bf3-4d5b-9a94-a65156267f82.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Adia shells out funding for Polus Capital: <\/strong>London-based credit investor <a target=\"_blank\" href=\"https:\/\/poluscapital.com\/\" style=\"\" rel=\"noopener\">Polus<\/a><a target=\"_blank\" href=\"https:\/\/poluscapital.com\/\" style=\"\" rel=\"noopener\">Capital Management<\/a> secured a capital investment from an Abu Dhabi Investment Authority (Adia) subsidiary for its Special Situations strategy, pushing the strategy\u2019s assets under management to USD 5 bn, according to a <a target=\"_blank\" href=\"https:\/\/www.prnewswire.com\/news-releases\/polus-capital-management-secures-adia-commitment-for-special-situations-strategy-302251756.html\" style=\"\" rel=\"noopener\">press release<\/a>. While the exact value remains undisclosed, the total raised is said to amount to some USD 1 bn, with Adia committing a \u201csignificant\u201d portion of that, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-09-18\/polus-draws-adia-in-1-billion-raise-for-special-situations-fund\" style=\"\" rel=\"noopener\">Bloomberg<\/a> quotes a source familiar with the matter as saying. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the fund: <\/strong>Polus\u2019 special situations fund focuses on secondary investments in distressed debt, capitalizing on shifts in enterprise or hard asset values.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Adia is pouring more into alternative funds: <\/strong>In June, the sovereign wealth fund made a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/2c62f603-533a-4a19-8d82-8efc65f60aa1\/%253cmark%253eadia%253c%2Fmark%253e-pours-another-usd-200-mn-in-australian-real-estate-private-credit\" style=\"\" rel=\"noopener\">USD 199.8 mn<\/a> investment in Australian real estate private credit company Qualitas Diversified Credit Investments, and an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/23bc1df8-551d-4133-879f-41ddd858912b\/%253cmark%253eadia%253c%2Fmark%253e-backs-jain-global\" style=\"\" rel=\"noopener\">unspecified investment<\/a> in former Credit Suisse managing director Bobby Jain\u2019s new hedge fund, Jain Global, helping it raise a total USD 5.3 bn ahead of its launch. During the same month, an Adia subsidiary <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/122be706-0544-46d3-876d-dcaff4de0526\/%253cmark%253eadia%253c%2Fmark%253e-to-anchor-european-private-credit-fund\" style=\"\" rel=\"noopener\">backed<\/a> European Pemberton Asset Management\u2019s new NAV strategic financing strategy.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi-investment-authority\/\">Abu Dhabi Investment Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment\/\">investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"95963\" 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=\"95963\">\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\">INFRASTRUCTURE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/09\/19\/ajman-signs-a-aed-5-bn-agreement-for-infrastructure-investments\/\">\r\n                            Ajman signs a AED 5 bn agreement for infrastructure investments                        <\/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\/09\/19\/ajman-signs-a-aed-5-bn-agreement-for-infrastructure-investments\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n  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href=\"https:\/\/api.whatsapp.com\/send?text=Ajman+signs+a+AED+5+bn+agreement+for+infrastructure+investments+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F09%2F19%2Fajman-signs-a-aed-5-bn-agreement-for-infrastructure-investments%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\/09\/19\/ajman-signs-a-aed-5-bn-agreement-for-infrastructure-investments\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1526.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"95964\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/09\/19\/ajman-signs-a-aed-5-bn-agreement-for-infrastructure-investments\/1526-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1526.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1526.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1526.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1526.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-95963\" class=\"content-area-description single-story post-95963 post type-post status-publish format-standard has-post-thumbnail hentry category-infrastructure tag-ajman tag-china-national-electric-engineering tag-enterpriseam-uae tag-infrastructure 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\/9\/.78e19ab1-e214-4f79-a2aa-0c49d589d193.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Ajman to see AED 5 bn in infrastructure firm: <\/strong>Ajman signed an MoU with engineering services contractor <a target=\"_blank\" href=\"http:\/\/www.cneec.com.cn\/english\/\" style=\"\" rel=\"noopener\">China National Electric Engineering<\/a>, a subsidiary of state-owned Sinomach Group, paving the way for up to AED 5 bn in investments for infrastructure projects in the emirate starting next year, <a target=\"_blank\" href=\"https:\/\/gulfnews.com\/business\/property\/ajman-signs-up-china-national-electric-engineering-co-for-dh5-billion-investments-in-infrastructure-1.1726633479031\" style=\"\" rel=\"noopener\">Gulf News<\/a> reported.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The push comes as Ajman prioritizes infrastructure expansion<\/strong>, looking to leverage growing transportation links and attract private sector investment and expertise to support its development plans. \u201cWe are focused on expanding infrastructure and modern industries to attract global companies and support their operations in our emirate,\u201d Crown Prince of Ajman Sheikh Ammar bin Humaid Al Nuaimi said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Ajman's GDP grew <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ec324e69-b661-43cc-b44a-da905ee9161c\/%253cmark%253eajman%253c%2Fmark%253e%25e2%2580%2599s-economy-grew-6.25%2525-in-2023\" style=\"\" rel=\"noopener\">6.25% in 2023<\/a>, driven by growth in the manufacturing, wholesale and retail trade, and construction sectors.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ajman\/\">Ajman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/china-national-electric-engineering\/\">China National Electric Engineering<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/infrastructure\/\">infrastructure<\/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=\"95965\" 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=\"95965\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/09\/19\/singapores-trafigura-secures-usd-150-mn-in-financing-for-uae-exports\/\">\r\n                            Singapore\u2019s Trafigura secures USD 150 mn in financing for UAE exports                        <\/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\/09\/19\/singapores-trafigura-secures-usd-150-mn-in-financing-for-uae-exports\/\" 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\/09\/19\/singapores-trafigura-secures-usd-150-mn-in-financing-for-uae-exports\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a 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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/uae\/2024\/09\/19\/singapores-trafigura-secures-usd-150-mn-in-financing-for-uae-exports\/&title=Singapore\u2019s Trafigura secures USD 150 mn in financing for UAE exports\">\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=Singapore%E2%80%99s+Trafigura+secures+USD+150+mn+in+financing+for+UAE+exports+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F09%2F19%2Fsingapores-trafigura-secures-usd-150-mn-in-financing-for-uae-exports%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\/09\/19\/singapores-trafigura-secures-usd-150-mn-in-financing-for-uae-exports\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1524.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"95966\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/09\/19\/singapores-trafigura-secures-usd-150-mn-in-financing-for-uae-exports\/1524-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1524.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1524.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1524.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1524.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-95965\" class=\"content-area-description single-story post-95965 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-abu-dhabi-exports-office tag-debt-watch tag-enterpriseam-uae tag-first-abu-dhabi-bank tag-trafigura 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\/9\/.18d9738e-2f16-4fa0-8000-c7a94e24e1dc.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>UAE lenders extend <\/strong><strong>USD 150<\/strong><strong> mn facility to Trafigura:<\/strong> Singapore trading giant <a target=\"_blank\" href=\"https:\/\/www.trafigura.com\/\" style=\"\" rel=\"noopener\">Trafigura<\/a> has secured a USD 150 mn revolving credit facility from Etihad Credit Insurance (ECI), the Abu Dhabi Exports Office (Adex), First Abu Dhabi Bank (FAB), and <a target=\"_blank\" href=\"https:\/\/cib.natixis.com\/\" style=\"\" rel=\"noopener\">Natixis Corporate and Investment Banking<\/a>, to support its purchase of non-oil commodities from the UAE, according to a <a target=\"_blank\" href=\"https:\/\/www.trafigura.com\/news-and-insights\/press-releases\/2024\/eci-in-collaboration-with-adex-fab-and-natixis-sign-first-of-a-kind-financing-deal-to-support-trafiguras-exports-from-the-uae\/\" style=\"\" rel=\"noopener\">press release<\/a>. The two-year loan will help boost the UAE\u2019s non-oil exports by expanding the UAE\u2019s global trade reach.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> The lenders served as the mandated lead arranger, while Natixis CIB acted as bookrunner, facility coordinator, facility agent, and ECA agent. Allen Overy Shearman Sterling (A&O) and Clyde & Co acted as legal advisers on the agreement. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi-exports-office\/\">Abu Dhabi Exports Office<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt-watch\/\">DEBT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/first-abu-dhabi-bank\/\">First Abu Dhabi Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/trafigura\/\">Trafigura<\/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=\"95967\" 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=\"95967\">\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\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/09\/19\/mufg-taps-yoshi-katsuda-as-regional-head-for-the-middle-east\/\">\r\n                            MUFG taps Yoshi Katsuda as regional head for the Middle East                        <\/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\/09\/19\/mufg-taps-yoshi-katsuda-as-regional-head-for-the-middle-east\/\" 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\/09\/19\/mufg-taps-yoshi-katsuda-as-regional-head-for-the-middle-east\/')\">\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\/09\/19\/mufg-taps-yoshi-katsuda-as-regional-head-for-the-middle-east\/\">\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=MUFG taps Yoshi Katsuda as regional head for the Middle East&url=https:\/\/enterpriseam.com\/uae\/2024\/09\/19\/mufg-taps-yoshi-katsuda-as-regional-head-for-the-middle-east\/\">\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\/09\/19\/mufg-taps-yoshi-katsuda-as-regional-head-for-the-middle-east\/&title=MUFG taps Yoshi Katsuda as regional head for the Middle East\">\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=MUFG+taps+Yoshi+Katsuda+as+regional+head+for+the+Middle+East+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F09%2F19%2Fmufg-taps-yoshi-katsuda-as-regional-head-for-the-middle-east%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\/09\/19\/mufg-taps-yoshi-katsuda-as-regional-head-for-the-middle-east\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1522.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"95968\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/09\/19\/mufg-taps-yoshi-katsuda-as-regional-head-for-the-middle-east\/1522-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1522.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1522.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1522.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1522.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-95967\" class=\"content-area-description single-story post-95967 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-airbus tag-enterpriseam-uae tag-moves tag-mufg 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\/9\/.156224bb-81ce-40d1-ae8f-924b4959565d.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Financial group <strong>MUFG <\/strong>appointed <strong>Yoshihiko Katsuda<\/strong> (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/yoshihiko-katsuda-5111626\/?originalSubdomain=jp\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as its new<strong> regional head for the <\/strong><strong>Middle East,<\/strong> effective tomorrow, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/1505.pdf\" style=\"\" rel=\"noopener\">press release<\/a>. Katsuda will be based at the Dubai International Financial Centre, and will replace Yohsuke Takahashi, who has led the region since July 2023. The 25-year MUFG veteran most recently served as head of the global corporate banking office in the GCIB planning division in Tokyo. Katsuda will report to Hidefumi Yamamura, regional executive for MUFG EMEA. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Airbus <\/strong>tapped <strong>Gabriel Semelas<\/strong> (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/gabriel-s%C3%A9melas-ab896a9\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as<strong> president of Airbus in Africa and the <\/strong><strong>Middle East<\/strong>, effective 1 January, 2025, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/world\/middle-east\/gabriel-semelas-to-lead-airbus-in-africa-and-middle-east-s0jtkh33\" style=\"\" rel=\"noopener\">press release<\/a>. Semelas, who has been in the aeronautical industry for over 24 years, will oversee operations across all Airbus divisions in the region. He replaces Mikail Houari (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/mikail-houari-28480317b\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">LinkedIn<\/a>). Semelas was previously chief commercial and financial officer at Eurofighter Jagdflugzeug in Germany, and prior to that was vice president of sales contracts for commercial aircraft in the Middle East and Africa.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/airbus\/\">Airbus<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/mufg\/\">MUFG<\/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=\"95969\" 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=\"95969\">\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\">SPOTLIGHT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/09\/19\/egypts-fra-head-talks-about-how-the-regulator-brought-new-instruments-depth-to-its-market\/\">\r\n                            Egypt\u2019s FRA head talks about how the regulator brought new instruments + depth to its market                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/09\/19\/egypts-fra-head-talks-about-how-the-regulator-brought-new-instruments-depth-to-its-market\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2024\/09\/19\/egypts-fra-head-talks-about-how-the-regulator-brought-new-instruments-depth-to-its-market\/')\">\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\/09\/19\/egypts-fra-head-talks-about-how-the-regulator-brought-new-instruments-depth-to-its-market\/\">\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=Egypt\u2019s FRA head talks about how the regulator brought new instruments + depth to its market&url=https:\/\/enterpriseam.com\/uae\/2024\/09\/19\/egypts-fra-head-talks-about-how-the-regulator-brought-new-instruments-depth-to-its-market\/\">\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\/09\/19\/egypts-fra-head-talks-about-how-the-regulator-brought-new-instruments-depth-to-its-market\/&title=Egypt\u2019s FRA head talks about how the regulator brought new instruments + depth to its market\">\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=Egypt%E2%80%99s+FRA+head+talks+about+how+the+regulator+brought+new+instruments+%2B+depth+to+its+market+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F09%2F19%2Fegypts-fra-head-talks-about-how-the-regulator-brought-new-instruments-depth-to-its-market%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\/09\/19\/egypts-fra-head-talks-about-how-the-regulator-brought-new-instruments-depth-to-its-market\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1528.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"95970\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/09\/19\/egypts-fra-head-talks-about-how-the-regulator-brought-new-instruments-depth-to-its-market\/1528-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1528.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1528.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1528.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1528.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-95969\" class=\"content-area-description single-story post-95969 post type-post status-publish format-standard has-post-thumbnail hentry category-spotlight tag-egypt tag-enterpriseam-uae tag-spacs tag-spotlight 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\/9\/.ff776e3f-fe14-4138-bbe0-015096c8c3ba.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FRA\u2019s Farid on introducing SPACs, carbon credits, and more to the Egyptian <\/strong><strong>market<\/strong><strong>:<\/strong> Since assuming his position as Financial Regulatory Authority chairman in August 2022, Mohamed Farid has overseen the introduction of a handful of new financial instruments, as well as regulatory overhauls designed to create a deeper, more digitally-enabled market in Egypt. Speaking at EFG Hermes\u2019 annual conference in London last week, Farid touched on the different regulatory changes the authority has introduced over the past several years and the changes seen across the country\u2019s IPO market, ins. sector, and the digitization push. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>From EGX to FRA:<\/strong> Transitioning from the bourse to the FRA allowed Farid to bring an inside perspective on the regulatory priorities for the agency, including facilitating the process for companies to IPO on the bourse, he said. \u201cWe discovered that in Egypt, for companies to get fully ready to be able to trade their shares on the market through a complete IPO, they need lots of time,\u201d Farid said. To facilitate that process and encourage the introduction of new paper on the EGX, the FRA <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/781f8a28-a5ae-4f4f-b1e2-a24e80ce512a\" style=\"\" rel=\"noopener\">introduced in September 2022<\/a> amendments to listing rules that allow companies to temporarily list on the EGX while seeking regulatory approvals from the FRA. The amendments also granted companies a longer window to meet listing requirements. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The FRA also recently introduced changes to the listing rules for special purpose <\/strong><strong>acquisition vehicles (SPACs)<\/strong>, Farid noted. The regulator had first greenlit a proposal to allow SPACs in Egypt <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a464bafe-21f2-4b7e-a02e-63708d29114c\" style=\"\" rel=\"noopener\">back in 2021<\/a>. In introducing SPACs to Egypt, the FRA looked at the model introduced in the US and modified it to fit the local market. \u201cWe took a slightly different approach whereby the traditional model of SPACs that\u2019s in the US is allowed, but there\u2019s also a complementary model that also exists in Saudi and the UAE that introduces an SME platform,\u201d Farid said. This setup allows VC funds themselves to get listed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale:<\/strong> \u201cIf we allow companies to be listed with a minimum capital requirement of EGP 1 mn, and we\u2019re allowing investors to take this risk, it doesn\u2019t make any sense for us to not allow VC funds to be listed as well,\u201d Farid said. The new model is \u201cnamed SPACs for marketing purposes but it\u2019s more about listing private equity and venture capital funds\u201d and eventually create a path for limited partners (LPs) in startups to have a clear exit scenario, he said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Egyptian SPAC model takes heed of multinational institutions\u2019 guidance that <\/strong><strong>encourage the increased transparency that comes from listing a VC fund<\/strong>, Farid said, pointing to research from the European Bank of Reconstruction and Development, among others. \u201cThese institutions found that the performance of listed private equity and VC firms is by far superior to unlisted or \u2018opaque\u2019 peers,\u201d Farid said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This model is also designed to \u201cenable different asset management firms with the aim of <\/strong><strong>investing in startups<\/strong> and companies with newly developed ideas,\u201d while still providing investors with a clear exit mechanism, Farid said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Besides SPACs, the introduction of a voluntary carbon market with carbon credit trading<\/strong><strong> was another major development<\/strong> in the Egyptian market. Egypt officially launched <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bf6f83bf-cf94-4686-a908-2e5c27b3c511\/egypt-launches-africa%e2%80%99s-first-carbon-market\" style=\"\" rel=\"noopener\">Africa\u2019s first carbon market<\/a> last month, which Farid stressed made Egypt \u201cone of the very few [countries] that decided to put in place a full-fledged regulatory framework\u201d for the market and to trade carbon credits. Egypt already had several different green and sustainability-linked debt instruments, including green bonds, brown bonds, and transition bonds, but \u201canother sweetener that adds returns to those types of investments is to issue carbon credits,\u201d Farid said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Carbon credits: Commodities or financial instruments?<\/strong> The idea of launching a regional platform for carbon credit trading originated at COP27, which Egypt hosted in Sharm El Sheikh, Farid said. \u201cBut the difficulty was that we needed to decide how to treat carbon credits in a regulatory sense,\u201d he said. The US\u2019 model considers carbon credits as a commodity, whereas in the EU, they are considered to be financial instruments. \u201cFor the credits to be treated as a commodity, you need to not see significant deviations in the prices \u2014 but in reality, there were huge price differences.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not all carbon credits are born equal:<\/strong> \u201cA carbon credit issued by a project that only put a filter on a factory chimney to reduce CO2 had one price, while another carbon credit that was issued for slashing CO2 in addition to addressing other SDG components \u2014 such as women\u2019s empowerment, poverty alleviation, etc. \u2014 had a much higher price. Accordingly, given that you have this significant price deviation, we had to treat it as a financial instrument, not a commodity, and we had to create the regulations accordingly,\u201d Farid explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cAs it currently stands, we have 16 projects that are registered with the FRA with carbon<\/strong><strong> credits eligible for trading,\u201d<\/strong> Farid said. These projects \u2014 which are studied and verified and have the proper ISO certifications related to carbon credits \u2014 are primarily in the agriculture space, Farid noted. Out of the 16 projects currently listed, 15 of them are agricultural projects \u201cwhere farms have invested in swapping out their diesel-powered machinery to run on solar panels\u201d and introducing other sustainable practices, he said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not just Egyptian projects:<\/strong> The 16th project currently registered with the regulator is from India, Farid said, noting that the real idea behind launching Egypt\u2019s carbon market \u201cis to create a regional platform where Egypt, Morocco, Tunisia, Kenya, and other countries can register these projects and start seeing an aggregated trading platform for these players in the market.\u201d<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/spacs\/\">SPACs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/spotlight\/\">SPOTLIGHT<\/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=\"95971\" 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=\"95971\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/09\/19\/shorooq-partners-leads-usd-2-mn-pre-seed-funding-round-for-egypts-settle-payments\/\">\r\n                            Shorooq Partners leads USD 2 mn pre-seed funding round for Egypt\u2019s Settle Payments                        <\/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\/09\/19\/shorooq-partners-leads-usd-2-mn-pre-seed-funding-round-for-egypts-settle-payments\/\" 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\/09\/19\/shorooq-partners-leads-usd-2-mn-pre-seed-funding-round-for-egypts-settle-payments\/')\">\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\/09\/19\/shorooq-partners-leads-usd-2-mn-pre-seed-funding-round-for-egypts-settle-payments\/\">\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=Shorooq Partners leads USD 2 mn pre-seed funding round for Egypt\u2019s Settle Payments&url=https:\/\/enterpriseam.com\/uae\/2024\/09\/19\/shorooq-partners-leads-usd-2-mn-pre-seed-funding-round-for-egypts-settle-payments\/\">\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\/09\/19\/shorooq-partners-leads-usd-2-mn-pre-seed-funding-round-for-egypts-settle-payments\/&title=Shorooq Partners leads USD 2 mn pre-seed funding round for Egypt\u2019s Settle Payments\">\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=Shorooq+Partners+leads+USD+2+mn+pre-seed+funding+round+for+Egypt%E2%80%99s+Settle+Payments+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F09%2F19%2Fshorooq-partners-leads-usd-2-mn-pre-seed-funding-round-for-egypts-settle-payments%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\/09\/19\/shorooq-partners-leads-usd-2-mn-pre-seed-funding-round-for-egypts-settle-payments\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1342.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"95972\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/09\/19\/shorooq-partners-leads-usd-2-mn-pre-seed-funding-round-for-egypts-settle-payments\/1342-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1342.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1342.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1342.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1342.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-95971\" class=\"content-area-description single-story post-95971 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-adgm tag-also-on-our-radar tag-enterpriseam-uae tag-investment tag-legislation tag-real-estate tag-shorooq-partners tag-stonepeak tag-venture-capital 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\/9\/.505f767c-06bd-4c7f-bbc9-d5ef9de0d512.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">INVESTMENT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- Abu Dhabi-based VC Shorooq Partners led a USD 2 mn pre-seed funding roun<\/strong><strong>d for Egyptian B2B payment platform <\/strong><strong><a target=\"_blank\" href=\"https:\/\/settle-payments.com\/\" style=\"\" rel=\"noopener\">Settle Payments<\/a><\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/1358.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. Egypt\u2019s El Sewedy Capital Holding and Acasia Ventures participated in the round, alongside Abu Dhabi\u2019s Plus VC.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Settle?<\/strong> The fintech startup founded in 2023 is a B2B payments platform that aims to help businesses digitize and simplify their B2B payments, offering integration of companies\u2019 enterprise resource planning software with existing bank accounts to automate payments and receivables and improve the transparency of companies\u2019 financial processes, all while increasing efficiency and reducing operational errors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where\u2019s the money going?<\/strong> The company plans to use the funding to establish itself within the global market and further develop the platform, as well as invest in top local talent, improve user experience, and ramp up the company\u2019s marketing efforts to get the attention of both SMEs and large enterprises, Shorooq Partners partner Tamer Azer told EnterpriseAM. It also has long-term plans to expand into the GCC, including to Saudi Arabia and the UAE, Azer told us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Dubai-based B2B hospitality startup <\/strong><strong><a target=\"_blank\" href=\"https:\/\/plaintiger.co\/\" style=\"\" rel=\"noopener\">Plain Tiger<\/a><\/strong><strong> raised an undisclose<\/strong><strong>d investment <\/strong><strong>from <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.coreangels.com\/angel-groups\/mea\" style=\"\" rel=\"noopener\">CoreAngelsMEA<\/a><\/strong>, a unit of <a target=\"_blank\" href=\"https:\/\/www.coreangels.com\/\" style=\"\" rel=\"noopener\">CoreAngels International<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2024\/09\/plain-tiger-raises-undisclosed-investment-coreangelsmea\" style=\"\" rel=\"noopener\">press release<\/a>. African Business Angel Network also joined as a co-investor. Plain Tiger will use the investment to develop its platform and expand into the Saudi market, according to the statement. The investment follows a prior funding round led by VC AngelSpark in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/24e36e06-b96e-4021-9e71-5053dd1fcd79\/energy-ministry,-etihad-we-launch-ev-fast-charging-network#:~:text=Plain%20Tiger%20raises%20undisclosed%20seed%20funding%20from%20AngelSpark%3A%20Dubai%2Dbased%20B2B\" style=\"\" rel=\"noopener\">May<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Plain Tiger:<\/strong> Founded in 2021, Plain Tiger connects hotels with over 300 eco-friendly suppliers, while providing access to ESG data, to help hotels reduce their environmental impact.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Infrastructure and real estate investment firm Stonepeak opened an office in <\/strong><strong>Abu <\/strong><strong>Dhabi<\/strong> after recieving a license from the Financial Services Regulatory Authority of Abu Dhabi Global Market, according to a <a target=\"_blank\" href=\"https:\/\/stonepeak.com\/news\/stonepeak-establishes-presence-in-the-abu-dhabi-global-market\" style=\"\" rel=\"noopener\">company statement<\/a>. The new office will enable Stonepeak to arrange investments and provide advisory services in the UAE. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Phoenix Venture Partners secures ADGM license:<\/strong> Technology-focused investment firm <a target=\"_blank\" href=\"https:\/\/phoenix-vp.com\/\" style=\"\" rel=\"noopener\">Phoenix Venture Partners<\/a> secured an Abu Dhabi Market fund manager license, with <a target=\"_blank\" href=\"https:\/\/www.apexgroup.com\/\" style=\"\" rel=\"noopener\">Apex Group<\/a> facilitating the move, according to a <a target=\"_blank\" href=\"https:\/\/www.apexgroup.com\/insights\/apex-group-supports-phoenix-venture-partners-mena-expansion-with-abu-dhabi-global-markets-licence-and-fund\/\" style=\"\" rel=\"noopener\">press release<\/a>. The new license will allow Phoenix to expand its operations in the UAE and launch its first fund.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Apex Group will provide corporate and fund services for Phoenix's upcoming fund<\/strong>, positioning it to attract both domestic and international investors across the MENA and GCC regions, according to the statement.<\/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\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DMT to transfer real estate services on Al Reem Island to ADGM:<\/strong> Abu Dhabi's International Financial Centre <a target=\"_blank\" href=\"https:\/\/www.adgm.com\/about\/overview\" style=\"\" rel=\"noopener\">ADGM<\/a> signed an MoU with the Department of Municipalities and Transport (<a target=\"_blank\" href=\"https:\/\/www.dmt.gov.ae\/en\" style=\"\" rel=\"noopener\">DMT<\/a>) to transfer real estate and municipal services on Al Reem Island to ADGM, according to a <a target=\"_blank\" href=\"https:\/\/www.adgm.com\/media\/announcements\/adgm-and-dmt-sign-landmark-mou\" style=\"\" rel=\"noopener\">state<\/a><a target=\"_blank\" href=\"https:\/\/www.adgm.com\/media\/announcements\/adgm-and-dmt-sign-landmark-mou\" style=\"\" rel=\"noopener\">ment<\/a>. <\/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\">LEGISLATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai introduces new law to streamline law enforcement regulations:<\/strong> Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai, has issued a new law aimed at enhancing law enforcement capabilities and public-private partnerships in managing public facilities, according to a <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2024\/september\/18-09\/mohammed-bin-rashid-issues-law-regulating\" style=\"\" rel=\"noopener\">statement<\/a>. The law applies to government employees, private contractors, and institutions managing public facilities, as well as community members granted law enforcement capacity. It also mandates the use of Arabic in investigations and sets guidelines for enforcement and performance evaluations.<\/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\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ras Al Khaimah Ports inked an AED 100 mn MoU with Jianhua Holdings Group,<\/strong> to establish a concrete pile facility in RAK Maritime City FreeZone, <a target=\"_blank\" href=\"https:\/\/www.tradearabia.com\/news\/CONS_426281.html\" style=\"\" rel=\"noopener\">Trade Arabia<\/a> reports. Jianhua Holdings is now finalizing the first phase of the project, which will produce prestressed high-strength concrete piles to cater to demand across the GCC and Asian markets.<\/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\">ENERGY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi-based<\/strong> <strong>EEIC to distribute MediSun\u2019s tech<\/strong><strong>: <\/strong>Engineering contractor <a target=\"_blank\" href=\"https:\/\/eeic-uae.com\/who-we-are\/\" style=\"\" rel=\"noopener\">Emirates Electrical & Instrumentation Company<\/a> (EEIC) signed an MoU with renewable energy company <a target=\"_blank\" href=\"https:\/\/www.medisun.energy\/#about\" style=\"\" rel=\"noopener\">MediSun Energy<\/a> to distribute its WEGen technology, which uses osmotic power to generate electricity, in the UAE, according to a company <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/eeic-uae_worldutilitiescongress-sustainability-energyinnovation-activity-7241751226562859008-I4TS?utm_source=share&utm_medium=member_desktop\" style=\"\" rel=\"noopener\">statement<\/a>. The technology helps reduce consumption by 30%. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adgm\/\">ADGM<\/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\/investment\/\">investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/legislation\/\">legislation<\/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\/shorooq-partners\/\">Shorooq Partners<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/stonepeak\/\">Stonepeak<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/venture-capital\/\">VENTURE CAPITAL<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"95973\" 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=\"95973\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/09\/19\/fed-kicks-off-easing-cycle-with-a-bang\/\">\r\n                            Fed kicks off easing cycle with a bang                        <\/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\/09\/19\/fed-kicks-off-easing-cycle-with-a-bang\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The Open Market Committee\u2019s meeting voted 11 to 1 to reduce the federal funds rate to a range of 4.75% to 5%. Additional rate adjustments will be considered by policymakers based on \u201cincoming data, the evolving outlook, and the balance of risks,\u201d according to their statement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Powell says nothing is set in stone: <\/strong>The Fed will respond flexibly to evolving economic conditions, chair Jay Powell said at a presser after the meeting, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/bff9e6d8-8906-4b3d-9ff3-72b091b6cd9e\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports. Powell indicated that rates are not set on a \u201cfixed path\u201d and that the Fed may adjust its approach if inflation remains persistent. He also emphasized the central bank\u2019s readiness to act if unexpected weaknesses in the labor market emerge.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What to expect:<\/strong> The Fed\u2019s updated projections include a further 50 bps rate cut by year end, another 100 bps in 2025, and a final 50 bps in 2026, bringing the benchmark rate to 2.75%-3%, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/1495.pdf\" style=\"\" rel=\"noopener\">median forecast (pdf)<\/a>. The Fed has two meetings left this year, in November and December, implying two 25 bps rate cuts in each of the meetings. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Is the Fed playing catch-up?<\/strong> The Fed\u2019s 50 bps reduction contrasts with the Fed\u2019s assessment that the US economy is in a good place, Egyptian-American economist Mohamed El Erian said in an <a target=\"_blank\" href=\"https:\/\/x.com\/elerianm\/status\/1836485208557674499\" style=\"\" rel=\"noopener\">X post<\/a>. \u201cToday's 50 bps move is a catch-up for not having reduced rates in July.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reax: <\/strong>The stock market responded positively, with the S&P 500, Dow, and Nasdaq Composite all posting gains before easing to close slightly down, the <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/livecoverage\/fed-interest-rate-cut-inflation-live-09-18-2024\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> reports. Treasury yields also dipped after initially rising to 3.706%, settling at 3.685%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asia-Pacific markets are also reacting positively to the start of the era of monetary <\/strong><strong>easing<\/strong>, with Japan\u2019s Nikkei leading gains. Hong Kong\u2019s monetary authority followed the Fed\u2019s lead with a 50 bps rate cut, with Hang Seng futures pointing to a flat open after markets return to trade on Thursday following a day off yesterday. <strong>Wall Street futures<\/strong> are also up as traders continue to weigh the Fed\u2019s moves yesterday. <\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table markets-table'>\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\">9,423<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: -1.6%)<\/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>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\">4,390<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: +8.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">3,823<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1% (YTD: -0.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : AED<\/strong><strong> CBUAE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 3.67<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 3.67<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EIBOR<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5.1% 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\">4.1% 1 yr<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,921<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: -0.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">30,342<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.6% (YTD: +21.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&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\">5,618<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3% (YTD: +17.8%)<\/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>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\">8,254<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7% (YTD: +6.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,835<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.5% (YTD: +6.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 73.65<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-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>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2.29<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 2,598.60<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 60,378.90<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +42.7%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ADX fell 0.1% yesterday<\/strong> on turnover of AED 2.2 bn. The index is down 1.6% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>Foodco National Foodstuff (+6.5%), EasyLease Motorcycle Rental (+3.8%) and Fujairah Cement Industries (+3.3%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Abu Dhabi National Company for Building Materials (-9.9%), Aram Group (-9.7%) and Ooredoo (-8.4%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over on the DFM<\/strong>, the index also fell 0.1% on turnover of AED 335.1 mn. Nasdaq Dubai also closed down 0.1%.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/interest-rates\/\">interest rates<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/us-federal-reserve\/\">US Federal Reserve<\/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=\"95975\" 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\/09\/19\/95975-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-95975\" class=\"content-area-description single-story post-95975 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\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>15-19 September (Sunday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.lobster-event.com\/en\/event-details\/loop-cee-cis-2024\" style=\"\">Loop Beyond Borders<\/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>16-20 September (Monday- Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/itsworldcongress.com\/\" style=\"\">Intelligent Transport Systems World Congress 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>18-19 September (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/sharjahinvestmentforum.ae\/\" style=\"\">Sharjah Investment Forum<\/a><\/span><span style=\"font-weight:400;\">, Jawaher Reception and Convention Centre, Sharjah.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>19-20 September (Thursday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/forbesmiddleeastevents.com\/healthcare-summit-2024\/\" style=\"\">Healthcare Leaders Summit 2024<\/a><\/span><span style=\"font-weight:400;\">, St. Regis Saadiyat Island Resort, Abu Dhabi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>22-26 September (Sunday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/europeanwomenassociation.org\/event\/sharjah-europe-business-forum\/\" style=\"\">Sharjah-Europe Businesswomen Forum<\/a><\/span><span style=\"font-weight:400;\">, Brussels.<\/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>24-26 September (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.dwtc.com\/en\/events\/careers-uae-2024\/\" style=\"\">Careers UAE 2024<\/a><\/span><span style=\"font-weight:400;\">, Dubai 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>24-26 September (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.gulfoodgreen.com\/\" style=\"\">Gulfood Green<\/a><\/span><span style=\"font-weight:400;\">, Dubai 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>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>2-3 October (Wednesday-Thursday): <\/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>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>7-8 October (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/informaconnect.com\/agra-middle-east\/\" style=\"\">AgraME<\/a><\/span><span style=\"font-weight:400;\">, World Trade Center, Dubai. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>7-10 October (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.airtaxiworldcongress.com\/\" style=\"\">The World Air Taxi Congress,<\/a><\/span><span style=\"font-weight:400;\"> The Grand Hyatt Dubai, 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 Transpo[rt Infrastructure Exhibition and Conference<\/a><\/span><span style=\"font-weight:400;\">(Global Rail), Abu Dhabi. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">9-10 October (Wednesday-Thursday): The Regional Data and Community Development Forum, Al Jawaher Reception and Convention Centre, Sharjah.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>10-13 October (Thursday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ijf.org\/competition\/2657\" style=\"\">The Abu Dhabi Grand Slam Judo tournament<\/a><\/span><span style=\"font-weight:400;\">, Mubadala Arena. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>13-14 October (Sunday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.zawya.com\/en\/press-release\/events-and-conferences\/abu-dhabi-convention-and-exhibition-bureau-announces-second-edition-of-abu-dhabi-wedding-show-jdfbe6nl\" style=\"\">Abu Dhabi Wedding Show<\/a><\/span><span style=\"font-weight:400;\">, Park Hyatt Abu Dhabi.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>13-16 October (Sunday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/agcc.vc\/ai-challenge\" style=\"\">DMCCxAGCC: Global AI Challenge *Sustainability Edition<\/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>14-18 October (Monday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.gitex.com\/home\" style=\"\">Gitex Global<\/a><\/span><span style=\"font-weight:400;\">, Dubai World Trade Centre and Dubai Harbour.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>13-16 October (Sunday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/visit.expandnorthstar.com\/Event\/North\/Visitor\/Package\/AllPackages?utm_source=GoogleAds&utm_medium=PaidMarketing&utm_campaign=ATF-DWTC-PPC-GSA-Northstar2024-EN@UAE-Brand-Exact&Phrase-Visprom-Warm&gad_source=1&gbraid=0AAAAABaj9Au9xud1lWLG0qqB8gRUefq0d&gclid=Cj0KCQjwz7C2BhDkARIsAA_SZKZkiBNfVxNeLF941d-etvrU0euGxKDryAJwdwB5KEMLCMmTpM9Ai_AaAoZZEALw_wcB\" style=\"\">Expand North Star<\/a><\/span><span style=\"font-weight:400;\">, Dubai Harbour.<\/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;\">14 October (Monday): The Smart Cities MENA Summit, Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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 October (Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.etihadarena.ae\/en\/event-booking\/ufc-308\" style=\"\">UFC 308: TOPURIA vs HOLLOWAY<\/a><\/span><span style=\"font-weight:400;\">, Etihad Arena, Abu Dhabi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>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>30 October (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/events.ringcentral.com\/events\/connected-construction-conference\/registration?utm_source=linkedin&utm_campaign=2410-ME-CONS-LE-CCC-Dubai\" style=\"\">Connected Construction Conference<\/a><\/span><span style=\"font-weight:400;\">, Museum of the Future, Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>30-31 October: Sixth edition of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.binanceblockchainweek.com\/event\/b7fbe2af-9ab6-4bb2-b78b-486c4d1fa80f\" style=\"\">Binance Blockchain Week<\/a><\/span><span>, <\/span><span>Coca-Cola Arena, 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\/\" style=\"\">Abu Dhabi International Petroleum Exhibition & Conference<\/a><\/span><span> (<\/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>4-7 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>4-7 November (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.adipec.com\/decarbonisation\/\" style=\"\">ADIPEC Decarbonisation Accelerator<\/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>6 November (Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/events.futureforums.com\/world-finance-forum-dubai\" style=\"\">World Finance Forum<\/a><\/span><span style=\"font-weight:400;\">, Dubai. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>11 November (Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/diamondconference.ae\/\" style=\"\">Dubai Diamond Conference<\/a><\/span><span style=\"font-weight:400;\">, Jafza One Convention Centre, Dubai. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>11-12 November (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/menacinema.com\/\" style=\"\">META Cinema Forum<\/a><\/span><span style=\"font-weight:400;\">, Dubai. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>18-20 November (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.fastmarkets.com\/events\/middle-east-iron-steel\/\" style=\"\">Fastmarkets Middle East Iron & Steel 2024<\/a><\/span><span style=\"font-weight:400;\">, Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>19-20 November (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.dubaifuture.ae\/dubai-future-forum-2024\" style=\"\">Dubai Future Forum<\/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>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>23-24 November (Saturday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/sailgp.com\/races\/season-4\/dubai-sail-grand-prix\/overview\/\" style=\"\">Emirates Dubai Sail Grand Prix<\/a><\/span><span style=\"font-weight:400;\">, SailGP Race Stadium.<\/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>26-29 November (Tuesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.big5global.com\/?utm_source=google&utm_medium=cpc&utm_campaign=Big5Global&gad_source=1&gclid=CjwKCAjwreW2BhBhEiwAavLwfMyCmxvF5TomCWjZjNNsrbM3dAEVIr25shB3MjkoI5W3FPbNnU4_hhoCOVoQAvD_BwE\" style=\"\">Big 5 Global<\/a><\/span><span style=\"font-weight:400;\">, Dubai World Trade Centre.<\/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>28 November-1 December (Thursday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/race.spartan.com\/en\/races\/abu-dhabi\" style=\"\">Spartan World Championship<\/a><\/span><span style=\"font-weight:400;\">, Al Wathba Desert, Abu Dhabi. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>30 November (Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/x.com\/DubaiSC\/status\/1833512617115324786\" style=\"\">Football Legends Cup<\/a><\/span><span style=\"font-weight:400;\">, Al Maktoum Stadium Al Nasr Sports Club, 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;\">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 (Monday-Tuesday): <\/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>9-12 December (Monday-ThursdayTuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.adgm.com\/events\/abudhabifinanceweek\" style=\"\">Abu Dhabi Finance Week<\/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>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 Conference)<\/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 style=\"font-weight:400;\">10-12 December (Tuesday-Thursday): The Middle East and North Africa Business Aviation Association Show, Al Maktoum International Airport, Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>11-13 December (Wednesday-Friday): <\/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>14-21 December (Saturday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/worldschoolsfestival.com\/\" style=\"\">World Schools Festival<\/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>6 -12 January: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.visitdubai.com\/en\/whats-on\/dsf\" style=\"\">Dubai Shopping Festival<\/a><\/span><span>. <\/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 December: <\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">UAE-China Summit, Abu Dhabi.<\/span><\/li>\n<li><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wam.ae\/en\/article\/b4xo3a9-abu-dhabi-forum-for-peace-hold-10th-meeting\" style=\"\">Abu Dhabi Forum for Peace<\/a><\/span><span style=\"font-weight:400;\">, 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;\">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>9-13 January (Thursday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.irena.org\/Events\/2025\/Jan\/The-New-Generation-of-Decision-Makers-IRENA-Youth-Forum-at-the-15th-IRENA-Assembly\" style=\"\">International Renewable Energy Agency Youth Forum<\/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>11-13 January (Saturday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.irena.org\/Events\/2025\/Jan\/The-New-Generation-of-Decision-Makers-IRENA-Youth-Forum-at-the-15th-IRENA-Assembly\" style=\"\">International Renewable Energy Agency Assembly<\/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>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>14-16 January (Tuesday- Thursday):<\/span> <span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/light-middle-east.ae.messefrankfurt.com\/dubai\/en.html\" style=\"\">The Light + Intelligent Building Middle East exhibition,<\/a><\/span><span> 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;\">FEBRUARY 2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1-8 February (Saturday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.mubadalaabudhabiopen.com\/\" style=\"\">The Mubadala Abu Dhabi Open<\/a><\/span><span style=\"font-weight:400;\">, Zayed Sports City's International Tennis 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:400;\">2-3 February (Sunday-Monday): L\u2019Etape Dubai cycling race, Dubai.<\/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=\"\">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;\">Signposted to happen sometime in 1Q 2025:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">The first eight fronds of the Palm Jebel Ali will be site-ready, allowing for the commencement of villa infrastructure and civil works. <\/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;\">APRIL 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;\">6-11 April (Sunday-Friday): Geo-Spatial Week 2025, Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>7-9 April (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/aimcongress.com\/\" style=\"\">AIM Investment Summit<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi National Exhibition Center<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>14-16 April (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.woodshowglobal.com\/dubai\" style=\"\">Dubai Woodshow\u2019s 21st Edition<\/a><\/span><span style=\"font-weight:400;\">, Dubai World Trade 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 in April:<\/span><\/p>\n<ul>\n<li><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/a2rl.io\/autonomous-drone-race\" style=\"\">Abu Dhabi Autonomous Racing League<\/a><\/span><span style=\"font-weight:400;\">, Yas Marina Circuit in 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;\">MAY 2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>6-7 May (Tuesday-Wednesday): <\/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:400;\">26-28 May (Monday-Wednesday): Arab Media Summit, 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;\">JUNE 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;\">3-4 June (Tuesday-Wednesday): Make-A-Wish International\u2019s Global Wish summit, Abu Dhabi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">OCTOBER 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 Center.<\/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 2025:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">The Middle East Electric Vehicle Show, Expo Center Sharjah. <\/span><\/li>\n<li><span style=\"font-weight:400;\">e& will complete Adnoc\u2019s private 5G network. <\/span><\/li>\n<li><span style=\"font-weight:400;\">The International Civil Aviation Organization\u2019s Global Implementation Support Symposium, 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;\">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 2026:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">The UAE to host the Arab Competition Forum<\/span><\/li>\n<li><span style=\"font-weight:400;\">Dubai to host the Arab Actuarial Conference<\/span><\/li>\n<li><\/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 Chess Olympiad.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime in 2029:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Dubai to host the International Conference on Computer Vision.<\/span><\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Aldar, Mubadala to develop, manage AED 30 bn Abu Dhabi assets | PJT Partners to acquire Dubai\u2019s deNovo | Trafigura gets financing for UAE exports <\/p>\n","protected":false},"featured_media":95948,"menu_order":0,"template":"","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-95947","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"1d372e9a-1b5e-4b6c-accb-bde5337b16d1","teaser":"Aldar, Mubadala to develop, manage AED 30 bn Abu Dhabi assets | PJT Partners to acquire Dubai\u2019s deNovo | Trafigura gets financing for UAE exports ","photo_url":"https:\/\/ent.news\/2024\/4\/547.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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