{"id":98122,"date":"2024-11-21T00:00:00","date_gmt":"2024-11-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=98122"},"modified":"2025-12-15T02:06:58","modified_gmt":"2025-12-15T02:06:58","slug":"moodys-sees-the-uae-growing-4-8-next-year","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/moodys-sees-the-uae-growing-4-8-next-year\/","title":{"rendered":"Moody\u2019s sees the UAE growing 4.8% next year"},"content":{"rendered":"<section id=\"98124\" 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=\"98124\">\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\/11\/21\/this-morning-uk-prime-minister-to-head-to-the-gcc-next-month\/\">\r\n                            THIS MORNING: UK Prime Minister to head to the GCC next month?                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/this-morning-uk-prime-minister-to-head-to-the-gcc-next-month\/\" 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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We\u2019re nearing the end of another busy week of IPO, M&A and debt news. Today\u2019s issue is a mixed bag: We have a new forecast from Moody\u2019s for economic growth next year, our friends at Mashreq inking Qatar\u2019s first bilateral s-linked facility, and GCC financial services authorities greenlighting a fund passporting framework. Plus: A lot more investment news and M&A updates. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BUT FIRST- The DFM rose 0.6% to hit its highest levels in a decade<\/strong>, helped by share price increases from Emirates NBD and the DFM operator. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- It\u2019s another warm and sunny day<\/strong>, with temperatures peaking at 31\u00b0C in Dubai before cooling to 24\u00b0C overnight. In <strong>Abu Dhabi<\/strong>, the mercury peaks at 28\u00b0C, with an overnight low of 26\u00b0C. <\/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=\"wwtt1\"><\/a> <strong>Another USD 1 tn milestone: <\/strong>Dubai International Financial Center (DIFC) is now hosting more than 920 family-related firms with over USD 1.2 tn in assets under management, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-20\/dubai-based-family-offices-now-manage-over-1-trillion-in-assets\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing DIFC Authority CEO Arif Amiri. \u201c[DIFC is] now one of the top ten locations in the world for hedge funds activity. And based on the current trajectory, we are on track to become one of the top five in the coming years,\u201d Amiri said at the Future of Finance forum in Dubai.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s been a lot of tns lately: <\/strong>UAE-listed stocks also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/0b5b7f9f-1f51-4f84-bc5e-927009778822\/this-morning:-uae-listed-stocks-top-usd%253cmark%253e-1-tn%253c%2Fmark%253e-in-market-value-%2B-masdar,-nmdc-energy-eye-expansion\" style=\"\" rel=\"noopener\">hit the USD 1 tn milestone<\/a> earlier this week, fueled by the IPO boom and IHC\u2019s recent share buyback program. <\/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- UK Prime Minister Keir Starmer reportedly plans to visit the UAE and Saudi Arabia <\/strong><strong>next month<\/strong> as the country looks to draw GBP bns of fresh investment from Gulf sovereign wealth funds to boost the UK Labor government\u2019s growth agenda, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/ad068a9d-220d-4500-8c3d-385bff243e58\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports, citing people familiar with the matter. Starmer could vie for investments for energy and infrastructure, including projects like the Sizewell C nuclear power plant in eastern England. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER - The UK is close to inking a trade agreement with the Gulf Cooperation <\/strong><strong>Council (GCC) \u201cas early as this year\u201d<\/strong> and is also considering individual trade agreements with specific GCC countries, Bloomberg reported <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/0a7cd122-5ff7-4f19-803e-3c7bebf68a41\/this-morning:-flying-taxis-%2B-remote-work-might-be-the-answer-for-our-traffic-woes\" style=\"\" rel=\"noopener\">earlier this month<\/a>. The UK and GCC have held seven rounds of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/46be0d75-f281-4fa6-8fb1-4ea1c84c385e\/are-gcc-trade-talks-with-the-uk-on-track-after-change-in-gov%25e2%2580%2599t%3F\" style=\"\" rel=\"noopener\">trade talks<\/a> since 2022, with UK Foreign Secretary David Lammy visiting Abu Dhabi <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/968a4517-080a-4cf0-b651-0a35c81a5df1\/uae-officials-meet-with-egyptian-counterparts-to-boost-cooperation\" style=\"\" rel=\"noopener\">in September<\/a> and UK Business and Trade Secretary Jonathan Reynolds visiting Dubai this month to push negotiations forward. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE-UK relations have been shaky<\/strong>, with Abu Dhabi-backed RedBird IMI formally withdrawing its bid to acquire UK papers the Telegraph and Spectator earlier in May, following months of opposition from the UK government. The UAE had previously pledged to invest GBP 10 bn in the UK, which the FT says has already been invested in sectors including life sciences, renewables, and tech. <\/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- Abu Dhabi + Singapore sovereign wealth funds eye stake in Pye-Barker Fire & Safe<\/strong><strong>ty: <\/strong>The Abu Dhabi Investment Authority (Adia) and Singapore\u2019s GIC are in advanced talks to acquire a minority stake in US-based <a target=\"_blank\" href=\"https:\/\/pyebarkerfs.com\/\" style=\"\" rel=\"noopener\">Pye-Barker Fire and Safety<\/a> in a transaction that could potentially value the fire protection services firm at USD 6 bn (including debt), <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-19\/adia-gic-said-nearing-pye-barker-fire-safety-minority-stake\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing sources it says are familiar with the matter. The two sovereign wealth funds will purchase the stake from Leonard Green and Partners and Altas Partners.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO FROM ADIA- The sovereign wealth fund<\/strong> <strong>and private equity firms EQT and Aub<\/strong><strong>a Investment are selling a 6.7% stake in Swiss skincare company Galderma<\/strong> in a bid to raise CHF 1.3 bn (USD 1.5 bn), <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-20\/galderma-backers-offer-to-sell-about-1-4-billion-stake\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing a filing it has seen. The sale has reportedly been oversubscribed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This marks the third sell-off in as many months<\/strong>, with Adia and co-investors\u2019 sale of a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/3480f15a-38cb-4126-a2ae-bf713bce4d35\/it%25e2%2580%2599s-the-last-day-to-subscribe-to-nmdc-energy%25e2%2580%2599s-adx-ipo#:~:text=2%2D%20Adia%20and,of%20this%20year.\" style=\"\" rel=\"noopener\">USD 1.2 bn<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/3480f15a-38cb-4126-a2ae-bf713bce4d35\/it%25e2%2580%2599s-the-last-day-to-subscribe-to-nmdc-energy%25e2%2580%2599s-adx-ipo#:~:text=2%2D%20Adia%20and,of%20this%20year.\" style=\"\" rel=\"noopener\">stake<\/a> in September, and a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/37c9985e-ad2d-4742-a656-08f0f228a3b3\/adia-consortium-offloads-10%2525-of%253cmark%253e-galderma%253c%2Fmark%253e-to-l%25e2%2580%2599or%25c3%25a9al\" style=\"\" rel=\"noopener\">10% stake<\/a> t to France\u2019s L\u2019Or\u00e9al in August in a transaction valued at USD 1.85 bn. The shareholders held a combined 77.21% of the company before the selldown started.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>Adia, Swedish private equity company EQT, and Singapore's GIC <a target=\"_blank\" href=\"https:\/\/www.adia.ae\/en\/investments\/private-equity\/portfolio\/case-studies\/galderma\" style=\"\" rel=\"noopener\">acquired<\/a> Galderma \u2014 formerly Nestl\u00e9 Skin Health \u2014 for CHF 10.2 bn (c. USD 11.9 bn) from Nestl\u00e9 in 2019. Initially established as a 50\/50 JV between L\u2019Or\u00e9al and Nestl\u00e9, L\u2019Or\u00e9al sold off its 50% ownership stake in Galderma to Nestl\u00e9 in 2014. The company <a target=\"_blank\" href=\"https:\/\/www.galderma.com\/news\/celebrating-galdermas-listing-six-swiss-exchange\" style=\"\" rel=\"noopener\">listed on the SIX<\/a> back in March of this year.<\/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- US private equity firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.andalusian.com\/\" style=\"\" rel=\"noopener\">Andalusian Private Capital<\/a><\/strong><strong> plans to open its first offshore offic<\/strong><strong>e in the UAE by early 2025<\/strong>, Chief Investment Officer Aaron Kless told <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/business\/banking\/2024\/11\/20\/us-private-equity-company-andalusian-to-open-first-global-office-in-uae-in-early-2025\/\" style=\"\" rel=\"noopener\">the National<\/a>. The UAE office will be either located at the ADGM or the Dubai International Finance Center (DIFC). The middle market lender, which manages USD 2 bn in commitments, will use its UAE office to serve clients across the Mena region.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>T<\/strong><strong>he company has already held talks with investors in Abu Dhabi to explore possible <\/strong><strong>partnerships and capital agreements<\/strong>, aiming to attract long-term contracts from three to ten years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- More direct lenders are planning a UAE expansion:<\/strong> US private credit manager <a target=\"_blank\" href=\"https:\/\/golubcapital.com\/\" style=\"\" rel=\"noopener\">Golub<\/a><a target=\"_blank\" href=\"https:\/\/golubcapital.com\/\" style=\"\" rel=\"noopener\">Capital<\/a> aims to set up a UAE office to tap regional investors for its private credit strategies, CEO Lawrence Golub told <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/business\/markets\/2023\/12\/12\/golub-capital-planning-uae-presence-to-raise-more-funds-for-private-credit-investment\/\" style=\"\" rel=\"noopener\">the National<\/a>. The lender focuses on sectors such as software and technology, financial services, restaurant and retail, and health care.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5-<\/strong><strong> Eight small airports at Al Maktoum Int\u2019l Airport? <\/strong>Dubai Airports\u2019 CEO Paul Griffiths is looking to turn the new Al Maktoum International Airport into eight small airports that only share the runways to create a compact check-in experience, Paul Griffiths was quoted as saying by <a target=\"_blank\" href=\"https:\/\/www.khaleejtimes.com\/uae\/dubai-airports-chief-wants-8-smaller-airports-at-al-maktoum-terminal-intimate-concourse#:~:text=%E2%80%9CWhat%20I%20would%20like%20to,off%20at%20the%20right%20place.%E2%80%9D\" style=\"\" rel=\"noopener\">Khaleej Times<\/a>.<\/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>#6- The UAE will finance Albania\u2019s new nationwide street surveillance system<\/strong>, Albanian prime minister Edi Rama said at a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/ediramaal\/videos\/1630834824167984\" style=\"\" rel=\"noopener\">press conference<\/a>, Southeast European newswire <a target=\"_blank\" href=\"https:\/\/seenews.com\/news\/uae-to-help-albania-set-up-nationwide-street-monitoring-system-1266835\" style=\"\" rel=\"noopener\">SeeNews<\/a> reports. Implemented in phases over 20 months, the project will be backed by the Abu Dhabi Fund for Development, although the financing details were not disclosed. <\/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>Dubai International Chamber attracted 157 companies to Dubai in 9M 2024<\/strong>, marking a 68.8% y-o-y increase, state news agency <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/1488yn9-dubai-international-chamber-attracts-157-companies\" style=\"\" rel=\"noopener\">Wam<\/a> reports. This includes 39 multinational corporations and 118 SMEs. The chamber also supported the expansion of 75 local companies into new markets abroad during the period, up 241% y-o-y.<\/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>#1- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.clevelandclinicabudhabi.ae\/en\/media-center\/events\/1st-annual-nursing-conference-advancing-nursing-excellence\" style=\"\" rel=\"noopener\">Cleveland Clinic's first Annual Nursing Conference<\/a><\/strong><strong> wraps up today <\/strong>after its launch at the Cleveland Clinic in Abu Dhabi on Wednesday. The conference brings together registered nurses, midwives, and clinical specialists for networking and skill expansion. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Ras Al Khaimah Ruler Sheikh Saud bin Saqr Al Qasimi is currently on a four-day visit<\/strong><strong> to Guangdong Province, China<\/strong>, which commenced yesterday, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b69arxk-ras-khaimah-ruler-arrives-china%E2%80%99s-guangdong\" style=\"\" rel=\"noopener\">Wam<\/a> reports. During the visit, the RAK Ruler will sign a cooperation agreement with Guangdong, focusing on the digital economy, scientific and technological innovation, advanced manufacturing, smart cities, and culture and tourism. Al Qasimi will also hold business meetings. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The International Program for Civil Aviation Leaders is on its final day today in Dubai<\/strong>, bringing together over 20 civil aviation ministers, as well as heads of civil aviation authorities from Arab countries to ramp up cooperation within the sector, state news agency <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b68pc8a-3rd-international-programme-for-civil-aviation\" style=\"\" rel=\"noopener\">Wam<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.prototypesforhumanity.com\/a-global-gathering-of-university-innovators\/\" style=\"\" rel=\"noopener\">Dubai Future Solutions\u2013Prototypes for Humanity<\/a><\/strong><strong> is on its third and final day today <\/strong>at Emirates Towers in Dubai. The event will facilitate collaboration among graduates and professors from over 800 universities, focusing on innovation in sectors such as agriculture, healthcare, energy, civil society, mobility, water, and the environment. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5-<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.adairexpo.com\/\" style=\"\" rel=\"noopener\">Air Expo<\/a><\/strong><strong> is on its final day <\/strong>at the Adnec in Abu Dhabi. The event will gather over 20k aviation professionals and will feature keynote speakers and panel discussions from industry leaders focusing on advanced air mobility, among other topics in the aviation sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#6- The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.adialab.ae\/symposium\" style=\"\" rel=\"noopener\">Adia Lab Symposium 2024<\/a><\/strong><strong> is also on its final day at the ADGM.<\/strong> The event will feature discussions by notable researchers and scientists on the topics of climate change and AI implementations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#7- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.xpanse.world\/\" style=\"\" rel=\"noopener\">Xpanse 2024<\/a><\/strong><strong>kicked off yesterday at the Adnec Center in Abu Dhabi<\/strong>, and runs until tomorrow, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b65q61z-xpanse-2024-showcase-future-exponential\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The event will focus on artificial intelligence, machine learning, genomics, quantum computing, neuromorphic computing, and 6G connectivity. Some 3k decision-makers, technology innovators, Nobel Prize winners, industry executives, CEOs, government officials, and scientists are expected to attend.<\/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>Two stories are capturing the imagination of the international business press this <\/strong><strong>morning:<\/strong> The indictment of Adani Group\u2019s Gautam Adani on charges of bribery and fraud, and Nvidia\u2019s most recent financials. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US prosecutors <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.justice.gov\/usao-edny\/pr\/billionaire-chairman-conglomerate-and-seven-other-senior-business-executives-indicted\" style=\"\" rel=\"noopener\">formally charged<\/a><\/strong><strong> Adani \u2014 one of the richest people in the world \u2014 and <\/strong><strong>seven others with being involved in a \u201cmassive\u201d bribery and fraud scheme.<\/strong> The defendants allegedly planned to pay USD 265 mn in bribes to officials in the Indian government to facilitate being awarded solar energy supply contracts, including for India\u2019s largest solar power plant. The contracts were forecasted to reel in USD 2 bn in net income over two decades. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The defendants are also being charged with raising capital \u201con the basis of false and <\/strong><strong>misleading statements,\u201d<\/strong> including USD 2 bn in syndicated loans \u201ccomprised of international financial institutions and US-based investors\u201d and another USD 1 bn from bond offerings that were also \u201cmarketed and sold to investors in the US.\u201d (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/legal\/chair-indias-adani-group-indicted-united-states-2024-11-20\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/cab2e834-e5fa-4dd0-b757-76c243ac2eeb\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/11\/20\/billionaire-gautam-adani-charged-in-new-york-with-massive-fraud.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-20\/us-prosecutors-indict-gautam-adani-on-bribery-charges\" 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>MEANWHILE- Nvidia reported lower than expected revenue growth in its <\/strong><strong><a target=\"_blank\" href=\"https:\/\/nvidianews.nvidia.com\/news\/nvidia-announces-financial-results-for-third-quarter-fiscal-2025\" style=\"\" rel=\"noopener\">3Q 2024-25<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/nvidianews.nvidia.com\/news\/nvidia-announces-financial-results-for-third-quarter-fiscal-2025\" style=\"\" rel=\"noopener\">earnings results<\/a><\/strong>, with the chipmaker saying its revenues grew 94% y-o-y and 17% q-o-q. The revenue figure came in at a record high of USD 35.1 bn. However, the company\u2019s sales forecast for the following quarter came in below projections, with the firm saying that its Blackwell AI chips are seeing \u201cvery strong\u201d demand but costs are expected to eat away at margins. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-20\/nvidia-forecast-fails-to-meet-the-loftiest-estimates-for-ai-star\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/11\/20\/nvidia-nvda-earnings-report-q3-2025.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/ai-chip-leader-nvidia-forecasts-fourth-quarter-revenue-above-estimates-2024-11-20\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/1465bbdd-62e3-48da-9012-8729263878c7\" style=\"\" rel=\"noopener\">Financial Times<\/a>)<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">***<\/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 style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DID YOU KNOW that we also cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\" style=\"\" rel=\"noopener\">Egypt<\/a><\/strong><strong>, <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong>,<\/strong> and the MENA <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\" style=\"\" rel=\"noopener\">climate<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\" style=\"\" rel=\"noopener\">logistics<\/a> industries?<\/p>\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\">\n<p class=\"tag-border-left\"> CIRCLE YOUR CALENDAR- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/shf.sharjahtourism.ae\/SITTF2024\/\" style=\"\" rel=\"noopener\">The Sharjah International Tourism and Travel Forum<\/a><\/strong><strong>will kick <\/strong><strong>off Monday, 25 November <\/strong>at the Expo Center in Sharjah. The forum features industry leaders and innovators, panel discussions and workshops on advancements in the tourism sector. Key topics include digital platforms, data-driven decision-making, health protocols, and sustainable practices.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/forbesmiddleeastevents.com\/medical-tourism-and-wellness-summit\/\" style=\"\" rel=\"noopener\">Forbes Middle East Medical Tourism & Wellness Summit<\/a><\/strong><strong> will take place on 23-24 <\/strong><strong>November <\/strong>at Jumeirah Beach Hotel in Dubai. The summit will gather leading health and wellness professionals, innovators, and industry leaders to discuss the Middle East's rise as a hub for healthcare and wellness solutions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.wam.ae\/ar\/article\/b5xzb5k-%D8%A7%D9%84%D9%86%D8%B3%D8%AE%D8%A9-%D8%A7%D9%84%D8%A7%D9%81%D8%AA%D8%AA%D8%A7%D8%AD%D9%8A%D8%A9-%D9%82%D9%85%D8%A9-%D8%A7%D9%84%D8%B0%D9%83%D8%A7%D8%A1-%D8%A7%D9%84%D8%A7%D8%B5%D8%B7%D9%86%D8%A7%D8%B9%D9%8A-%D9%85%D9%81%D8%AA%D9%88%D8%AD\" style=\"\" rel=\"noopener\">Open Source AI Summit<\/a><\/strong><strong> will take place on 26-27 November<\/strong> at The St. Regis Saadiyat Island Resort in Abu Dhabi. The event will feature discussions on prospects for open-source artificial intelligence, as well as challenges, ethical considerations, governance, and international cooperation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai to host new global mixed martial arts championship:<\/strong> Dubai\u2019s Sports Council and Department of Economy and Tourism inked an agreement with the Professional Fighters League to launch a new international mixed martial arts championship, dubbed Road to Dubai, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b6ahmvy-hamdan-bin-mohammed-witnesses-signing-agreement\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The global series will feature matches in multiple cities worldwide, with the season finale to be hosted on 25 January 2025 at Dubai\u2019s Coca-Cola Arena. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi-investment-authority\/\">Abu Dhabi Investment Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai-airports\/\">Dubai Airports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> 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     \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/moodys-revises-upwards-its-forecast-for-uae-growth-to-4-8-in-2025\/\">\r\n                            Moody\u2019s revises upwards its forecast for UAE growth to 4.8% in 2025                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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href=\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/moodys-revises-upwards-its-forecast-for-uae-growth-to-4-8-in-2025\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1808.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"98128\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/moodys-revises-upwards-its-forecast-for-uae-growth-to-4-8-in-2025\/1808-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1808.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1808.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1808.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1808.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98127\" class=\"content-area-description single-story post-98127 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam-uae tag-gdp tag-moodys 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\/11\/.25eee24a-7dcb-4290-bd94-3184950229d6.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Moody\u2019s <\/strong><strong>is optimistic about the UAE\u2019s economic outlook: <\/strong>The UAE is expected to see the biggest y-o-y jump in growth among emerging markets next year, with a projected 4.8% growth next year, up one percentage point from 3.8% in 2024, according to a Moody\u2019s report picked up by <a target=\"_blank\" href=\"https:\/\/www.aletihad.ae\/news\/%D8%A7%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A\/4530775\/-%D9%85%D9%88%D8%AF%D9%8A%D8%B2---%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-%D8%A7%D9%84%D8%A3%D8%B3%D8%B1%D8%B9-%D9%86%D9%85%D9%88%D8%A7-%D8%A8%D9%8A%D9%86-%D8%A7%D9%84%D8%A3%D8%B3%D9%88%D8%A7%D9%82-%D8%A7%D9%84%D9%86%D8%A7%D8%B4%D8%A6%D8%A9\" style=\"\" rel=\"noopener\">Al Etihad<\/a>. The report credited the country\u2019s strong domestic demand as the main factor driving the forecast. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE bucks the broader trend: <\/strong>Overall GDP growth for the 23 largest emerging market economies is expected to slow to 3.8% in 2025, down from 4.1% in 2024, according to the report. India is expected to remain the fastest-growing emerging economy, with growth forecast at 6.6% in 2025, although it represents a slowdown from 7.2% in 2024. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re also leading growth in the MENA region<\/strong>, with Saudi Arabia following closely at 4.7% and Egypt projected to grow around 4% in 2025. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>S<\/strong><strong>overeign credit fundamentals for 2025 are expected to remain stable<\/strong>, with steady economic growth and more predictable financing conditions helping \u201cgovernments maintain or even slightly cut debt,\u201d Moody\u2019s said in a separate <a target=\"_blank\" href=\"https:\/\/www.moodys.com\/web\/en\/us\/insights\/credit-risk\/outlooks\/global-sovereign-2025.html\" style=\"\" rel=\"noopener\">press release<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The challenges: <\/strong>Geopolitical, social, and environmental risks \u2014 including ongoing conflicts in Ukraine and the Middle East \u2014 \u201ccomplicate policy strategies and expose sovereigns to tail shocks,\u201d potentially impacting credit, the report said. Increased US-China trade tensions, high youth unemployment, and income inequality were also cited as risk factors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThe room to respond to shocks is limited,\u201d <\/strong>the report notes, as sovereigns find their budgets more restricted amid increased spending. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Frontier markets are also expected to face persisting liquidity challenges<\/strong>, with limited access to affordable debt and potential new debt repayment defaults, despite the lower interest rate environment as central banks ease monetary policy. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/economy\/\">Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/moodys\/\">Moody\u2019s<\/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=\"98129\" 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=\"98129\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">ENERGY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/egypt-uae-ink-agreements-for-solar-plants-solar-parts-factories-and-renewables-focused-industrial-zone\/\">\r\n                            Egypt, UAE ink agreements for solar plants, solar parts factories, and renewables-focused industrial zone                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/egypt-uae-ink-agreements-for-solar-plants-solar-parts-factories-and-renewables-focused-industrial-zone\/2050-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2050.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2050.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2050.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2050.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98129\" class=\"content-area-description single-story post-98129 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-energy tag-enterpriseam-uae tag-manufacturing tag-renewables wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.b8fefe26-97d9-4212-928c-f49101eb3901.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Several UAE firms inked agreements to set up renewables projects in Egypt<\/strong> yesterday, including Masdar and Global South Utilities. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Masdar inks two MoUs for solar plants:<\/strong><\/p>\n<ul>\n<li>A <strong>floating solar plant on Lake Nasser <\/strong>could be built under an MoU with state agency&nbsp;<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/futureofegyptofficial\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">Future of Egypt<\/a> agricultural expansion project, which Wam says will have a capacity of 3 GW (though the Egyptian cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1076428327860920?ref=embed_post\" style=\"\" rel=\"noopener\">statement<\/a> pegs capacity at 5 GW);<\/li>\n<li><strong>The two sides could also<\/strong> <strong>establish a solar power plant in Nag Hammadi<\/strong>. Wam pegs capacity at 2 GW, while cabinet pegs it at 2.8 GW.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- A renewables-focused industrial zone in East Port Said may also be in the works,<\/strong><strong> courtesy of AD Ports<\/strong>, who inked an MoU for the project with the SCZone yesterday, according to another cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1076424267861326?ref=embed_post\" style=\"\" rel=\"noopener\">statement<\/a>. The Abu Dhabi sovereign wealth fund ADQ-owned company will develop, operate, and manage the 20 sq km zone in East Port Said. The possibility of linking the site with nearby docks and logistics areas is also under study.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know so far: <\/strong>The project will start with four factories, two of which will produce solar panels and other bits of solar tech, Egyptian Prime Minister Moustafa Madbouly said in his weekly <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1076512147852538?ref=embed_post\" style=\"\" rel=\"noopener\">presser<\/a>. The project will also have facilities producing batteries to store solar power by next summer, he added. The factories will have a capacity of 4 GW of solar panels and 2 GW of battery storage.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This isn\u2019t the first time we heard about the project: <\/strong>Recent meetings in August between government officials and Emirati government and business figures covered a proposal to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3090c98a-fef2-4ae3-a3ed-b39e501fc64e\/egypt-and-uae-ink-three-project-agreements-worth-bns-of-investments\" style=\"\" rel=\"noopener\">set up an Emirati industrial zone<\/a> in East Port Said, which the government said it was considering making a freezone or special economic zone exempt from customs duties.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- A USD 12 mn battery storage factory is also in the works<\/strong>, after an MoU was inked between the Industry Ministry, the UAE\u2019s Global South Utilities, and China\u2019s Weiheng, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1076401331196953?ref=embed_post\" style=\"\" rel=\"noopener\">statement<\/a>. The facility will have a capacity of 1 GW.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Global South Utilities are also embarking on a factory project with another Chinese<\/strong><strong> company<\/strong>, after inking an MoU with JA Solar for two solar parts factories, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1076431537860599?ref=embed_post\" style=\"\" rel=\"noopener\">statement<\/a>. One of the factories will manufacture solar cells with a production capacity of 2 GW at an investment cost of USD 138 mn, alongside another to produce solar panels with the same production capacity at a cost of USD 75 mn.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/manufacturing\/\">MANUFACTURING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"98131\" 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=\"98131\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/mashreq-inks-qatars-first-private-sector-s-linked-loan-with-landmark-retail\/\">\r\n                            Mashreq inks Qatar\u2019s first private sector s-linked loan with Landmark Retail                        <\/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\/11\/21\/mashreq-inks-qatars-first-private-sector-s-linked-loan-with-landmark-retail\/\" 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\/11\/21\/mashreq-inks-qatars-first-private-sector-s-linked-loan-with-landmark-retail\/')\">\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\/11\/21\/mashreq-inks-qatars-first-private-sector-s-linked-loan-with-landmark-retail\/\">\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=Mashreq inks Qatar\u2019s first private sector s-linked loan with Landmark Retail&url=https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/mashreq-inks-qatars-first-private-sector-s-linked-loan-with-landmark-retail\/\">\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\/11\/21\/mashreq-inks-qatars-first-private-sector-s-linked-loan-with-landmark-retail\/&title=Mashreq inks Qatar\u2019s first private sector s-linked loan with Landmark Retail\">\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=Mashreq+inks+Qatar%E2%80%99s+first+private+sector+s-linked+loan+with+Landmark+Retail+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F11%2F21%2Fmashreq-inks-qatars-first-private-sector-s-linked-loan-with-landmark-retail%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\/11\/21\/mashreq-inks-qatars-first-private-sector-s-linked-loan-with-landmark-retail\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2048.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"98132\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/mashreq-inks-qatars-first-private-sector-s-linked-loan-with-landmark-retail\/2048-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2048.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2048.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2048.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2048.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98131\" class=\"content-area-description single-story post-98131 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt tag-debt-watch tag-enterpriseam-uae tag-mashreq tag-sustainability wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.2efd2338-5eed-4c03-a4ee-7342b909611c.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Landmark Retail signs Qatar's first private-sector SLF with Mashreq: <\/strong>Our friends at Mashreq signed sustainability-linked facilities (SLF) with Landmark Retail in Qatar, marking the country\u2019s first bilateral SLF agreement in the private sector, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1956.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The facilities link the financing to Landmark Retail\u2019s performance across sustainability indicators, including renewable energy, energy efficiency, responsible sourcing, waste reduction, and recycling. Landmark Retail plans to ramp up responsible sourcing by increasing the use of sustainably sourced cotton in its products, the statement reads.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mashreq has a big sustainable finance target: <\/strong>The lender aims to facilitate USD 30 bn in sustainable finance by 2030 \u2014 part of a wider Climb2Change initiative that targets responsible banking products and services and social impact initiatives like the recently announced <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/fc0a5a53-a966-4c73-9502-b7070ce85152\/mashreq%25e2%2580%2599s-global%253cmark%253e-climb2change%253c%2Fmark%253e-initiative-expands-to-egypt\" style=\"\" rel=\"noopener\">clean-up of Egypt\u2019s Wadi Degla<\/a>. The initiative aims to clean up 14 mountain sites around the world. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not Mashreq\u2019s first SLF: <\/strong>Last June, Mashreq and three Emirati banks <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/30a14fdf-434d-4143-822d-d34f272bae51\/brookfield-led-consortium-to-invest-in%253cmark%253e-gems%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">led the financing<\/a> of a USD 3.25 bn sustainability-linked loan for Gems Education, supporting Brookfield and its consortium\u2019s acquisition of a majority stake in the school operator. Mashreq was the lead sustainability coordinator, initial mandated lead arranger and bookrunner, and global and conventional facility agent on the transaction, Mashreq\u2019s Global Head of Investment Banking Chiradeep Deb <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f1187dbd-de07-48e3-8457-18d8e29554d8\/on-s-linked-finance,%253cmark%253e-gems%253c%2Fmark%253e-education%25e2%2580%2599s-landmark-facility,-and-avoiding-froth-in-esg-conversations\" style=\"\" rel=\"noopener\">told us in August<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt-watch\/\">DEBT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/mashreq\/\">Mashreq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/sustainability\/\">sustainability<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"98133 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=\"98133\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/98133-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98133\" class=\"content-area-description single-story post-98133 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.mashreq.com\/en\/uae\/about-us\/sustainability\/climb2change\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1254.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"98134\" 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=\"98134\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">REGULATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/gcc-financial-authorities-greenlight-fund-passporting-framework-for-2025\/\">\r\n                            GCC financial authorities greenlight fund passporting framework for 2025                        <\/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\/11\/21\/gcc-financial-authorities-greenlight-fund-passporting-framework-for-2025\/\" 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\/11\/21\/gcc-financial-authorities-greenlight-fund-passporting-framework-for-2025\/')\">\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\/11\/21\/gcc-financial-authorities-greenlight-fund-passporting-framework-for-2025\/\">\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=GCC financial authorities greenlight fund passporting framework for 2025&url=https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/gcc-financial-authorities-greenlight-fund-passporting-framework-for-2025\/\">\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\/11\/21\/gcc-financial-authorities-greenlight-fund-passporting-framework-for-2025\/&title=GCC financial authorities greenlight fund passporting framework for 2025\">\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=GCC+financial+authorities+greenlight+fund+passporting+framework+for+2025+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F11%2F21%2Fgcc-financial-authorities-greenlight-fund-passporting-framework-for-2025%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\/11\/21\/gcc-financial-authorities-greenlight-fund-passporting-framework-for-2025\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2046.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"98135\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/gcc-financial-authorities-greenlight-fund-passporting-framework-for-2025\/2046-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2046.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2046.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2046.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2046.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98134\" class=\"content-area-description single-story post-98134 post type-post status-publish format-standard has-post-thumbnail hentry category-regulation-watch tag-capital-markets tag-enterpriseam-uae tag-investment tag-regulation-watch tag-securities-and-commodities-authority 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\/11\/.b034d553-818b-4773-a7bc-dbbd6a5f36b2.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>We\u2019re one step closer to a GCC Funds Marketing Passport: <\/strong>GCC financial services authorities approved a fund passporting framework at the latest GCC Committee of Heads of Financial Market Authorities meeting, the Securities and Commodities Authority (SCA) said in a <a target=\"_blank\" href=\"https:\/\/www.sca.gov.ae\/en\/media-center\/news\/20\/11\/2024\/gcc-financial-market-authorities-approve-fund-passporting-framework-with-implementation-scheduled.aspx\" style=\"\" rel=\"noopener\">statement<\/a>. Set to be implemented in early 2025, the framework aims to boost integration between Gulf financial markets and will allow funds from one GCC jurisdiction to be marketed in others.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know: <\/strong>The passporting regulations will simplify cross-border investment processes by streamlining the registration and promotion of investment fund units. The unified regulatory framework will also include provisions for deregistering non-compliant funds to protect unit holders' rights. The framework will mirror the EU\u2019s UCITS\/AIFMD framework. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We knew this was coming:<\/strong> We first found out that the SCA and other GCC financial services regulators\u2019 have been working on drafting the GCC Funds Marketing Passport <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/a16449a8-f2b9-4c70-9026-23cdedfaa7cc\/banks-can-no-longer-market%253cmark%253e-foreign%253c%2Fmark%253e-funds-to-retail-investors-in-the-emirates\" style=\"\" rel=\"noopener\">last April<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- The SCA recently banned banks from marketing foreign funds to retail investors: <\/strong>The UAE's financial services watchdog\u2019s rule banning onshore banks from promoting or marketing foreign funds to retail investors entered into effect <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/a16449a8-f2b9-4c70-9026-23cdedfaa7cc\/banks-can-no-longer-market%253cmark%253e-foreign%253c%2Fmark%253e-funds-to-retail-investors-in-the-emirates\" style=\"\" rel=\"noopener\">in April<\/a>. The change aimed to encourage foreign fund managers to establish an onshore presence and curb capital outflows while boosting the local funds market. In April, the SCA was also in early talks with the Dubai Financial Services Authority and the ADGM to introduce a dual licensing framework for fund managers.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/capital-markets\/\">capital markets<\/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\/regulation-watch\/\">REGULATION WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/securities-and-commodities-authority\/\">Securities and Commodities Authority<\/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=\"98136\" 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=\"98136\">\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\/11\/21\/swvl-completes-usd-4-7-private-placement-to-fuel-us-expansion\/\">\r\n                            Swvl completes USD 4.7 private placement to fuel US expansion                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/swvl-completes-usd-4-7-private-placement-to-fuel-us-expansion\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/swvl-completes-usd-4-7-private-placement-to-fuel-us-expansion\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/swvl-completes-usd-4-7-private-placement-to-fuel-us-expansion\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Swvl completes USD 4.7 private placement to fuel US expansion&url=https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/swvl-completes-usd-4-7-private-placement-to-fuel-us-expansion\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/swvl-completes-usd-4-7-private-placement-to-fuel-us-expansion\/&title=Swvl completes USD 4.7 private placement to fuel US expansion\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Swvl+completes+USD+4.7+private+placement+to+fuel+US+expansion+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F11%2F21%2Fswvl-completes-usd-4-7-private-placement-to-fuel-us-expansion%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/swvl-completes-usd-4-7-private-placement-to-fuel-us-expansion\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2044.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"98137\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/swvl-completes-usd-4-7-private-placement-to-fuel-us-expansion\/2044-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2044.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2044.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2044.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2044.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98136\" class=\"content-area-description single-story post-98136 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-enterpriseam-uae tag-investment tag-investment-watch tag-swvl 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\/11\/.c6151f39-a003-4f3e-a282-fe9250833693.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Swvl secures USD 4.7 mn through share sale: <\/strong>Dubai-based mass transit app Swvl sold USD 4.7 mn in ordinary shares to investors, including some of its board members, in a private placement, to support its expansion to the US next year, according to a <a target=\"_blank\" href=\"https:\/\/www.globenewswire.com\/news-release\/2024\/11\/18\/2982560\/0\/en\/Swvl-Announces-Pricing-of-4-7-Million-Private-Placement-Priced-At-the-Market-Under-Nasdaq-Rules-to-Accelerate-Expansion-in-High-Value-Markets.html\" style=\"\" rel=\"noopener\">press release<\/a>. The shares were priced at USD 4.79 each, based on its 15 November closing price. The transaction was expected to close on or about November 18, 2024, pending standard conditions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Buyers have agreed to a six-month lock-up period and restricted transfers afterward, <\/strong>limiting sales to 20% of their holdings every 90 days. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is not Swvl\u2019s first private placement: <\/strong>It agreed to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/addc2e8a-de27-437c-96ad-85867ad6e68f\" style=\"\" rel=\"noopener\">sell USD 20 mn-worth of new shares<\/a> in 2022 to an undisclosed institutional investor. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The startup recently snagged new contracts: <\/strong>In the past three months, Swvl secured USD 4.2 mn in contracts across Egypt's mobility sector, partnering with companies in FMCG, telecom, e-commerce, and banking, according to a separate <a target=\"_blank\" href=\"https:\/\/www.globenewswire.com\/news-release\/2024\/11\/15\/2981875\/0\/en\/Swvl-Wins-4-2-Million-in-New-Contracts-in-Egypt-Over-the-Last-Three-Months.html\" style=\"\" rel=\"noopener\">press release<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reax: <\/strong>Swvl\u2019s shares rose 32% to USD 6.32 on Monday following the announcements, but were down 17.2% to USD 5.52 yesterday. The Egypt-born startup\u2019s shares are up 245% YTD. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER-<\/strong> Swvl posted a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/9de5d538-0e28-462e-808a-33893f21a647\/swvl%e2%80%99s-bottom-line-climbed-to-usd-3.1-mn-in-2023\" style=\"\" rel=\"noopener\">net income of USD 3.1 mn<\/a> in 2023, a sharp turnaround from its USD 123.6 mn loss in 2022. CEO Mostafa Kandil attributed the recovery to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/41aa8140-2ecb-42c1-80a0-6d9d157e87f3\/behind%253cmark%253e-swvl%253c%2Fmark%253e%25e2%2580%2599s-turnaround\" style=\"\" rel=\"noopener\">cost-cutting<\/a>, exiting non-core markets, and focusing on Mena operations. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/swvl\/\">Swvl<\/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=\"98138\" 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=\"98138\">\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\">STARTUP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/\">\r\n                            Locad secures USD 9 mn in Pre-series B funding                        <\/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\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/\" 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\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/')\">\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\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/\">\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=Locad secures USD 9 mn in pre-series B funding&url=https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/\">\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\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/&title=Locad secures USD 9 mn in pre-series B funding\">\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=Locad+secures+USD+9+mn+in+pre-series+B+funding+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F11%2F21%2Flocad-secures-usd-9-mn-in-pre-series-b-funding%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\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/2057.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"98139\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/locad-secures-usd-9-mn-in-pre-series-b-funding\/2057-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/2057.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2057.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/2057.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/2057.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98138\" class=\"content-area-description single-story post-98138 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterpriseam-uae tag-logistics tag-startup-watch tag-startups 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\/11\/.4af49229-16af-4b73-87ec-d25dcb61b8d9.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Singapore-based<\/strong> <strong>e-commerce logistics startup Locad secured USD 9 mn in its <\/strong><strong>pre-series B funding round<\/strong> to fuel its expansion into the UAE and Saudi Arabia in 4Q 2024, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/leading-smart-digital-logistics-engine-locad-raises-9mln-in-pre-series-b-round-for-global-expansion-lckkj3g8\" style=\"\" rel=\"noopener\">press release<\/a>. The round was co-led by <a target=\"_blank\" href=\"https:\/\/www.global.vc\/\" style=\"\" rel=\"noopener\">Global Ventures<\/a>, alongside existing investor <a target=\"_blank\" href=\"https:\/\/reefknotinvestments.com\/\" style=\"\" rel=\"noopener\">Reefknot Investments<\/a>. Other participants in the round include <a target=\"_blank\" href=\"https:\/\/scequity.com.hk\/\" style=\"\" rel=\"noopener\">Sumitomo Equity Ventures<\/a> and other current investors such as <a target=\"_blank\" href=\"https:\/\/www.antler.co\/elevate\" style=\"\" rel=\"noopener\">Antler Elevate<\/a>, Febe Ventures, and <a target=\"_blank\" href=\"https:\/\/www.jgsummit.com.ph\/\" style=\"\" rel=\"noopener\">JG Summit<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The platform will allow customers in the GCC to use its network of regional fulfillment centers, as well as use the shipping engine to connect with local shippers, find inventory, and manage order fulfillment. It will also be available to customers outside of the GCC looking to grow their local presence. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Locad: <\/strong>Founded by Constantin Robertz (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/constantin-robertz-299a288\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), Jannis Dargel (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/jannis-dargel-84b60543\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) and Shrey Jain (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/shreymjain\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) in Singapore, <a target=\"_blank\" href=\"https:\/\/golocad.com\/\" style=\"\" rel=\"noopener\">Locad<\/a> is a logistics engine for e-commerce, providing a cloud supply chain platform that automates storage, packing, shipping, and tracking for B2C and B2B channels. It synchronizes inventory across platforms and manages order fulfillment via a network of warehouses and carriers, and also provides demand, inventory and carrier analytics. The startup currently serves some 300 brands across Southeast Asia and Australia. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">OTHER STARTUP NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emirati Citadel International Holdings led a USD 3 mn series A round for <\/strong><strong>Egyptian <\/strong><strong>homeware brand <\/strong><strong><a target=\"_blank\" href=\"https:\/\/ariika.com\/\" style=\"\" rel=\"noopener\">ariika<\/a><\/strong>, alongside Beltone Venture Capital, Beltone Financial Holding\u2019s venture capital arm, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/2010.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where is the money going?<\/strong> The funds will support ariika\u2019s expansion in its home market and help strengthen its presence in Saudi Arabia and Iraq, which are expected to account for half of the company\u2019s consolidated business by 2025. Ariika recently opened a flagship store in Baghdad and plans to launch its first Saudi Arabia location in January. The funds will also be channeled into developing its product portfolio and executing go-to-market strategies as part of its efforts to tap into a USD 20 bn home and decor market in the MENA region. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>Citadel Holding <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/3dc77bb1-f9ba-4bc7-bf68-4339357b111e\/beltone%25e2%2580%2599s-vc-arm-to-manage-ci-vc%25e2%2580%2599s-usd-30-mn-startup-fund\" style=\"\" rel=\"noopener\">tapped Egypt\u2019s Beltone Venture Capital<\/a> to manage its USD 30 mn Citadel fund, designed to back fast-growing startups in the MENA region. The fund has already made investments, including acquiring a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c863e075-984b-4d21-856d-a8b345afba29\/%253cmark%253ebeltone%253c%2Fmark%253e%253cmark%253e-venture%253c%2Fmark%253e%253cmark%253e-capital%253c%2Fmark%253e-acquires-20%2525-of-home-decor-brand-ariika\" style=\"\" rel=\"noopener\">20% stake<\/a> in ariika following a EGP 31 mn funding round last year. Other portfolio companies include Egyptian courier Bosta, trucking startup Trella, and UAE-based fintech Qlub.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/startup-watch\/\">STARTUP WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/startups\/\">startups<\/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=\"98140\" 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=\"98140\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/lulu-retail-reports-first-earnings-post-listing\/\">\r\n                            Lulu Retail reports first earnings post-listing                        <\/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\/11\/21\/lulu-retail-reports-first-earnings-post-listing\/\" 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\/11\/21\/lulu-retail-reports-first-earnings-post-listing\/')\">\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\/11\/21\/lulu-retail-reports-first-earnings-post-listing\/\">\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=Lulu Retail reports first earnings post-listing&url=https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/lulu-retail-reports-first-earnings-post-listing\/\">\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\/11\/21\/lulu-retail-reports-first-earnings-post-listing\/&title=Lulu Retail reports first earnings post-listing\">\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=Lulu+Retail+reports+first+earnings+post-listing+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F11%2F21%2Flulu-retail-reports-first-earnings-post-listing%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\/11\/21\/lulu-retail-reports-first-earnings-post-listing\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2516.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"98141\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/lulu-retail-reports-first-earnings-post-listing\/2516-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2516.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2516.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2516.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2516.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98140\" class=\"content-area-description single-story post-98140 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-earnings-watch tag-enterpriseam-uae tag-lulu tag-lulu-retail tag-retail 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\/11\/.f148f150-e874-4d95-944f-a12d6cbf5da6.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Lulu Retail posts 126% bottom line growth: <\/strong>Lulu Group\u2019s retail arm, Lulu Retail, saw its net income from continuing operations increase 126% y-o-y to USD 35.1 mn in 3Q 2024, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/2019.pdf\" style=\"\" rel=\"noopener\">financial statements (pdf)<\/a>. The retail company attributed the strong performance to improved operating income and improved cost management, in its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/2018.pdf\" style=\"\" rel=\"noopener\">management report (pdf)<\/a>. Lulu Retail booked USD 1.9 bn in group revenues, up 6.1% y-o-y in 3Q 2024, thanks to growth across key product segments and markets, particularly the UAE, Saudi Arabia and Kuwait.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a nine-months basis, the retail arm saw its net income increase 73% y-o-y to USD 151.5 <\/strong><strong>mn<\/strong>. Lulu Retail\u2019s revenues rose 5.7% y-o-y, coming in at USD 5.7 bn in 9M 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Lulu Retail <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/aa543363-43e6-4d53-9e9a-d905fc2370c5\/lulu-retail-raises-aed-6.32-bn-in-largest-ipo-of-the-year\" style=\"\" rel=\"noopener\">raised AED 6.3 bn<\/a> in a record IPO, which marked the UAE's biggest this year in November. The order book was 25x oversubscribed, excluding AED 1 bn in orders from cornerstone investors. The company plans to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/33cf23f4-04e9-4d48-8f12-5f902b4e03f2\/lulu-retail-ipo-sells-out-within-one-hour\" style=\"\" rel=\"noopener\">open 90 new stores<\/a> across the Gulf over the next five years, focusing on the UAE and Saudi Arabia, Rupawala told Bloomberg earlier.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Lulu Retail is steadily expanding<\/strong>, with three new stores opened in 3Q 2024 and a total of 12 new stores during 9M alone; the new locations have brought Lulu Retail\u2019s total store number to 241 as of September. The retail arm has opened five more stores since 3Q, for a total of 17 new locations during 2024 so far.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/lulu\/\">Lulu<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/lulu-retail\/\">Lulu Retail<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/retail\/\">retail<\/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=\"98142\" 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=\"98142\">\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\">UAE IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/more-attention-turns-to-the-uaes-usd-1-tn-stock-market-dubais-tourism-appeal-denizbanks-ceos-indictment\/\">\r\n                            More attention turns to the UAE\u2019s USD 1 tn stock market + Dubai\u2019s tourism appeal + Denizbank\u2019s CEO\u2019s indictment                        <\/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\/11\/21\/more-attention-turns-to-the-uaes-usd-1-tn-stock-market-dubais-tourism-appeal-denizbanks-ceos-indictment\/\" 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 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href=\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/more-attention-turns-to-the-uaes-usd-1-tn-stock-market-dubais-tourism-appeal-denizbanks-ceos-indictment\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2042.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"98143\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/more-attention-turns-to-the-uaes-usd-1-tn-stock-market-dubais-tourism-appeal-denizbanks-ceos-indictment\/2042-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2042.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2042.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2042.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2042.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98142\" class=\"content-area-description single-story post-98142 post type-post status-publish format-standard has-post-thumbnail hentry category-uae-in-the-news tag-capital-markets tag-dubai tag-enterpriseam-uae tag-tourism tag-uae-in-the-news wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.c0b03e49-ef66-40ab-bc3b-4734757a99f6.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/0b5b7f9f-1f51-4f84-bc5e-927009778822\/this-morning:-uae-listed-stocks-top%253cmark%253e-usd-1-tn%253c%2Fmark%253e-in-market-value-%2B-masdar,-nmdc-energy-eye-expansion\" style=\"\" rel=\"noopener\">USD 1 tn<\/a><\/strong><strong> stock market is still making headlines<\/strong>, with <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-20\/uae-s-1-trillion-market-is-heavily-dominated-by-royal-family\" style=\"\" rel=\"noopener\">Bloomberg<\/a> looking at the ruling family\u2019s influence across local markets. About two-thirds of Abu Dhabi\u2019s benchmark index is tied to the ruling family, particularly National Security Advisor Sheikh Tahnoon bin Zayed Al Nahyan. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Potentially giving stock markets even more of a boost?<\/strong> Increasing the freefloat of key stocks \u201ccould help attract more international money,\u201d Kamco Invest\u2019s Junaid Ansari said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.euronews.com\/travel\/2024\/11\/20\/can-you-enjoy-dubai-on-a-budget-uae-city-wants-to-dispel-misconceptions-about-cost-of-a-ho\" style=\"\" rel=\"noopener\">Euronews<\/a><\/strong><strong> highlights Dubai\u2019s new tourism strategy,<\/strong> which seeks to dispel \u201cmisconceptions\u201d about the city by showcasing its affordability and year-round appeal. \u201cIt\u2019s no secret Dubai is home to a lot of luxury, iconic properties, but there\u2019s a variety of options available,\u201d said Hoor Al Khaja, senior VP of international operations at the Dubai Department of Economy and Tourism, noting that the emirate\u2019s \u201chealthy mix of affordable stays\u2026 can compete with any four or five-star hotel globally.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-20\/turkish-bank-ceo-indicted-over-scam-that-targeted-football-stars\" style=\"\" rel=\"noopener\">Bloomberg<\/a><\/strong><strong> covers the indictment of Hakan Ates, CEO of Emirates NBD\u2019s Turkey <\/strong><strong>unit Denizbank<\/strong>, who was accused of involvement in a Ponzi scheme targeting footballers from clubs like Galatasaray, Barcelona, and Inter Milan. Ates and his former deputy Mehmet Aydogdu face up to 240 years in prison on charges of aggravated fraud.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/capital-markets\/\">capital markets<\/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\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/uae-in-the-news\/\">UAE IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"98144\" 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=\"98144\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/tjx-is-now-a-minority-shareholder-in-brands-for-less\/\">\r\n                            TJX closes USD 344 mn stake acquisition in Dubai's Brands for Less                        <\/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\/11\/21\/tjx-is-now-a-minority-shareholder-in-brands-for-less\/\" 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\/11\/21\/tjx-is-now-a-minority-shareholder-in-brands-for-less\/')\">\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\/11\/21\/tjx-is-now-a-minority-shareholder-in-brands-for-less\/\">\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=TJX is now a minority shareholder in Brands for Less&url=https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/tjx-is-now-a-minority-shareholder-in-brands-for-less\/\">\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\/11\/21\/tjx-is-now-a-minority-shareholder-in-brands-for-less\/&title=TJX is now a minority shareholder in Brands for Less\">\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=TJX+is+now+a+minority+shareholder+in+Brands+for+Less+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F11%2F21%2Ftjx-is-now-a-minority-shareholder-in-brands-for-less%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\/11\/21\/tjx-is-now-a-minority-shareholder-in-brands-for-less\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1982.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"98145\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/tjx-is-now-a-minority-shareholder-in-brands-for-less\/1982-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1982.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1982.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1982.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1982.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98144\" class=\"content-area-description single-story post-98144 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-abu-dhabi-commercial-bank tag-adgm tag-adnoc tag-also-on-our-radar tag-aviation tag-banking tag-brands-for-less tag-enterpriseam-uae tag-esg tag-investment tag-ma tag-mubadala tag-rakez tag-real-estate tag-sanad 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\/11\/.ffb2418c-ec63-4c43-b269-63b9b6c77afa.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">M&A-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>TJX acquires minority stake in Brands for Less:<\/strong> US budget retailer TJX \u2014 which operates TJ Maxx and Marshalls \u2014 finalized its acquisition of a 35% stake in Dubai-based Brands for Less (BFL) for USD 344 mn, TJX said in its <a target=\"_blank\" href=\"https:\/\/investor.tjx.com\/news-releases\/news-release-details\/tjx-companies-inc-reports-q3-fy25-results-comp-store-sales#:~:text=2025%20financial%20results.-,Investment%20in%C2%A0Brands%20for%20Less,on%20its%20fourth%20quarter%20or%20full%20year%20Fiscal%202025%20financial%20results.,-Stores%20by%20Concept\" style=\"\" rel=\"noopener\">3Q earnings release<\/a>. TJX does not see this acquisition having a \u201dmaterial impact\u201d on its 4Q or FY 2025 earnings. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BFL shuffles board:<\/strong> Following the completion of the transaction, two senior executives from TGX will join BFL\u2019s board, <a target=\"_blank\" href=\"https:\/\/www.alkhaleej.ae\/2024-11-20\/%D8%AA%D8%BA%D9%8A%D8%B1%D8%A7%D8%AA-%D8%A5%D8%AF%D8%A7%D8%B1%D8%A9-%D9%81%D9%8A-%D8%A8%D8%B1%D8%A7%D9%86%D8%AF%D8%B2-%D9%81%D9%88%D8%B1-%D9%84%D8%B3-%D8%A8%D8%B9%D8%AF-%D8%A8%D9%8A%D8%B9-35\/%D8%A3%D8%B3%D9%88%D8%A7%D9%82-%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA\/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF\" style=\"\" rel=\"noopener\">Al Khaleej<\/a> reports, citing a statement. Co-founder and current CEO Toufic Kreidieh (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/toufic-kreidieh-1103433b\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) will transition to executive chairman, while Deputy CEO and Group COO Ayman Beydoun (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/aymanbeydoun\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) will take on the CEO role while maintaining his board membership. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> TJX inked a definitive agreement to acquire the 35% stake for USD 360 mn <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ae3f5e3e-4d99-4e2a-95ad-bd8c8b769b3f\/tj-maxx-and-marshalls-owner-to-acquire-35%2525-stake-in-dubai%25e2%2580%2599s%253cmark%253e-brands-for-less%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">last August<\/a>, with the acquisition granting the retail company access to TJX\u2019s 5k stores globally, fueling its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/5d845a96-380b-4fc1-af09-f262f83b437b\/nmdc-energy%25e2%2580%2599s-book-building-process-kicks-off-%2B-ega,%253cmark%253e-brands-for-less%253c%2Fmark%253e-eye-more-expansion-and-acquisitions#:~:text=%232%2D%20Also,for%20financial%20needs.\" style=\"\" rel=\"noopener\">expansion<\/a> into new markets in the Gulf and Southeast Asia.<\/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>#1- Abu Dhabi National Oil Company (Adnoc) broke ground on its liquified natural gas <\/strong><strong>(LNG) project in Al Ruwais Industrial City at Al Dhafra Region<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b69w7ry-hamdan-bin-zayed-witnesses-groundbreaking-ceremony\" style=\"\" rel=\"noopener\">Wam<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the facility:<\/strong> The company plans to start exporting from the Ruwais site in 2028. The project is expected to more than double Adnoc\u2019s LNG production capacity in the UAE to 15 mn tons per year. Adnoc handed a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/3a45d3c9-ebc7-426f-ac78-25ac8fefd032\" style=\"\" rel=\"noopener\">USD 5.5 bn<\/a> engineering, procurement, and construction contract to a JV between engineering companies Technip Energies and JGC Corporation, and National Marine Dredging Company.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Adnoc Gas is set to acquire a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ee2c5c60-7a60-4c22-9634-ae56c1d4b7ea\/adnoc-gas-to-acquire-60%2525-of%253cmark%253e-ruwais%253c%2Fmark%253e%253cmark%253e-lng%253c%2Fmark%253e,-to-pour-usd-15-bn-into-growth-by-2029\" style=\"\" rel=\"noopener\">60% stake<\/a> in the project from its parent group Adnoc in 2H 2028 for an estimated USD 5 bn.<\/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- Kowepo breaks ground on Al Ajban solar project: <\/strong>Korea Western Power (Kowepo) has broken ground on the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/bcd3ffda-dbd2-48cc-9877-fbdfbb227a30\" style=\"\" rel=\"noopener\">1.5 GW Al Ajban solar PV IPP plant<\/a> in Abu Dhabi, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/%d9%88%d8%b6%d8%b9-%d8%ad%d8%ac%d8%b1-%d8%a7%d9%84%d8%a3%d8%b3%d8%a7%d8%b3-%d9%84%d9%85%d8%b4%d8%b1%d9%88%d8%b9-%d9%85%d8%ad%d8%b7%d8%a9-%d8%a7%d9%84%d8%b9%d8%ac%d8%a8%d8%a7%d9%86-%d9%84%d9%84%d8%b7\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports. Kowepo is developing the project with France\u2019s EDF Renewables and Masdar. The project \u2014 set to be operational in 3Q 2026 \u2014 will deploy three mn solar panels mounted on single-axis trackers, which power nearly 160k homes across the UAE while slashing 2.4 mn tons of emissions annually. <\/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\">FINANCE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bank of New York Mellon Corporation obtained a category four license from the <\/strong><strong>Financial Services Regulatory Authority<\/strong>, allowing it to expand its services in ADGM, according to its <a target=\"_blank\" href=\"https:\/\/www.bny.com\/corporate\/global\/en\/about-us\/newsroom\/press-release\/bny-increases-offer-in-abu-dhabi-global-market.html\" style=\"\" rel=\"noopener\">press release<\/a>. The new offerings will include arranging custody, managing collective investment funds \u2014 including fund accounting and transfer agency services \u2014 and arranging credit and transactions in investments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">BANKING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Sharjah Publishing City-registered businesses will have easier access to <\/strong><strong>Emirates NBD services:<\/strong> Sharjah Publishing City (SPC) Free Zone entered a two-year partnership with Emirates NBD to facilitate banking services for its members, where they will have a dedicated channel at the bank for applying for business accounts and credit facilities, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/sharjah-publishing-city-inks-strategic-mou-with-emirates-nbd-r2qpgkzk\" style=\"\" rel=\"noopener\">press release<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- The two parties will integrate their systems <\/strong>through an application programming interface (API) to transmit applications for opening business bank accounts. SPC has recently introduced an initiative ensuring that members have access to a new bank account within three business days.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- MSCI upgraded the Abu Dhabi Commercial Bank (ADCB)\u2019s ESG rating to AA from <\/strong><strong>A<\/strong>, placing the lender in the MSCI industry leader category for managing ESG risks, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/adcb-named-esg-leader-with-msci-aa-rating-upgrade-and-publishes-2024-green-bond-report-mkhu9iga\" style=\"\" rel=\"noopener\">press release<\/a>. Sustainable finance initiatives, ESG due diligence, and data privacy management prompted MSCI\u2019s rating revision of ADCB.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">AVIATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Sanad, GAL extend their partnership with AED 73.5 mn contract: <\/strong>Mubadala's aerospace engineering arm <a target=\"_blank\" href=\"https:\/\/www.sanad.ae\/\" style=\"\" rel=\"noopener\">Sanad<\/a> and aviation maintenance firm <a target=\"_blank\" href=\"https:\/\/gal.ae\/\" style=\"\" rel=\"noopener\">Global Aerospace Logistics (GAL)<\/a> signed a AED 73.5 mn agreement to extend their partnership, allowing Sanad to continue providing maintenance services for the Rolls-Royce Trent 700 engines that power the A330 Multi-Role Tanker Transport fleet of the UAE army.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- UAE could be getting a new green aviation ecosystem: <\/strong>The China-UAE Industrial Capacity Cooperation Demonstration Zone (JOCIC Park) has inked an MoU with Hong Kong-based Volar Air Mobility to explore the development of a comprehensive green aviation ecosystem in the UAE, according to a <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/ar\/article\/articledetail\/id\/1770746\" style=\"\" rel=\"noopener\">press release<\/a>. This follows an MoU inked between UAE\u2019s General Civil Aviation Authority and Hong Kong-based Volar Air Mobility <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/4b333306-b12c-44ef-aa99-416d1b7caf2b\/a-slew-of-updates-on-ports,-cargo,-aviation,-and-e-commerce-from-ksa,-kuwait,-the-uae,-jordan-and-qatar\" style=\"\" rel=\"noopener\">back in September<\/a> to develop the UAE\u2019s first green aviation tech hub, which will support R&D for sustainable aviation technologies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The partnership will focus on developing environmentally friendly next-generation aircraft and infrastructure. The collaboration will also focus on developing a comprehensive program to support green aviation startups and accelerate their development in cooperation with Abu Dhabi University as well as facilitating the establishment of the International Green Aviation Organization\u2019s (IAGA) headquarters in Abu Dhabi. <\/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>Marjan to develop an office park that will house its own and Rakez\u2019s new HQs: <\/strong>Ras Al Khaimah-based developer <a target=\"_blank\" href=\"https:\/\/marjan.ae\/\" style=\"\" rel=\"noopener\">Marjan<\/a> partnered with Ras Al Khaimah Economic Zone (Rakez) to build an office park that will house the headquarters of both Marjan and Rakez, among others, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/marjan-partners-with-rakez-to-develop-rak-central-hq-office-complex-by-q4-2026-k7mx356v\" style=\"\" rel=\"noopener\">press release<\/a>. The project is slated for completion in 4Q 2026.<\/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\">INVESTMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mubadala gets a piece of Odoo?<\/strong> Mubadala Investment Company participated in a EUR 500 mn capital transaction for Belgian business software provider <a target=\"_blank\" href=\"https:\/\/www.odoo.com\/\" style=\"\" rel=\"noopener\">Odoo<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/www.prnewswire.com\/in\/news-releases\/odoo-sa-announces-a-500-million-transaction-increasing-the-belgian-unicorns-valuation-to-5-billion-302311294.html\" style=\"\" rel=\"noopener\">press release<\/a>. The funding round, which was led by Google\u2019s CapitalG and Sequoia Capital, also saw participation from BlackRock, HarbourVest Partners, AVP, and Alkeon. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> As part of the secondary capital transaction, Odoo\u2019s existing investors Summit Partners, Noshaq, and Wallonie Entreprendre will sell a portion of their shares. However, details of the new share allocation were not disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale:<\/strong> The sovereign wealth fund\u2019s decision to invest in Odoo was driven by Odoo\u2019s potential as \u201can exceptional partner for companies adapting to cloud and AI megatrends,\u201d as the UAE cements its position as a tech hub, Mubadala\u2019s Head of Growth Faris Al Mazrui said.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi-commercial-bank\/\">Abu Dhabi Commercial Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adgm\/\">ADGM<\/a>\n         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rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/esg\/\">ESG<\/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\/mubadala\/\">Mubadala<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/rakez\/\">Rakez<\/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\/sanad\/\">Sanad<\/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=\"98146\" 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=\"98146\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/ecb-warns-of-eurozone-debt-and-market-instability-risks\/\">\r\n                            ECB warns of Eurozone debt and market instability risks                        <\/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\/11\/21\/ecb-warns-of-eurozone-debt-and-market-instability-risks\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n      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data-attachment-id=\"98147\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/ecb-warns-of-eurozone-debt-and-market-instability-risks\/2029-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2029.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2029.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2029.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2029.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98146\" class=\"content-area-description single-story post-98146 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-debt tag-enterpriseam-uae tag-european-central-bank tag-financial-markets tag-global-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.ec081874-81d4-4668-8b33-73646a10371f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The<\/strong> <strong>ECB is raising red flags about Eurozone instability: <\/strong>The European Central Bank (ECB) has warned of risks to the Eurozone\u2019s financial stability, with its annual <a target=\"_blank\" href=\"https:\/\/www.ecb.europa.eu\/press\/financial-stability-publications\/fsr\/html\/ecb.fsr202411~dd60fc02c3.en.html\" style=\"\" rel=\"noopener\">Financial Stability Review<\/a> pointing to high public debt, low growth, and political uncertainty as key issues. Rising borrowing costs in some countries \u2014 notably France \u2014 and growing concerns over debt sustainability and fiscal health could lead to renewed instability reminiscent of past Eurozone debt crises.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>High borrowing costs in more-indebted EU countries are giving the ECB pause: <\/strong>While borrowing costs for some of the southern European epicenters of the EU\u2019s last round of sovereign debt crises remain well below their historic highs, rising borrowing costs for countries like France are driving concerns that the continent\u2019s more-indebted countries might be facing serious threats to debt sustainability. Recent financial volatility has only exacerbated this, with ECB Vice President Luis de Guindos noting that during recent episodes \u201cthe funding costs of countries with debt-to-GDP ratios of more than 100% widened notably,\u201d in comments to reporters picked up by the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/8f2dac5d-b64a-43dc-8f4b-5e76e1a60a43\" style=\"\" rel=\"noopener\">Financial Times<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EU budgets are going to feel the pinch:<\/strong> A combination of weak growth and elevated debt levels will make it harder for governments to finance defense spending and climate initiatives \u2014 both necessities if the incoming Trump administration remains bent on rolling back the US\u2019 commitments to NATO and climate action. Higher refinancing costs for maturing debt are also adding to the pressure, the ECB noted.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Big Tech also may be a cause for concern:<\/strong> The ECB warned that a potential <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/ecb-warns-bubble-ai-stocks-funds-deplete-cash-buffers-2024-11-20\/\" style=\"\" rel=\"noopener\">AI-linked asset<\/a><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/ecb-warns-bubble-ai-stocks-funds-deplete-cash-buffers-2024-11-20\/\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/ecb-warns-bubble-ai-stocks-funds-deplete-cash-buffers-2024-11-20\/\" style=\"\" rel=\"noopener\">price bubble<\/a> could have a significant impact on an already precarious Eurozone, noting that the stock market\u2019s increasing reliance on just a few US tech giants poses the risk of global market disruptions should earnings for these firms not meet expectations. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MARKETS THIS MORNING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are a mixed bag in early trading this morning as traders assess Nvidia\u2019s<\/strong><strong> latest earnings that beat expectations<\/strong>, led by Japan\u2019s Nikkei in the red at -0.8%, while Korea\u2019s Kospi and China\u2019s Shanghai index are both up 0.4% and Hong Kong\u2019s Hang Seng is in the green at 0.1%.<\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table markets-table'>\n<tbody>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,405<\/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% (YTD: -1.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,761<\/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: +17.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Nasdaq Dubai UAE20<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3,951<\/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: +2.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : AED CBUAE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 3.67<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 3.67<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EIBOR<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4.5% o\/n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4.3% 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\">11,868<\/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: -0.8%)<\/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>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\">30,588<\/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: +22.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,917<\/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\">0.0% (YTD: +24.1%)<\/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>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\">8,085<\/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% (YTD: +4.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,730<\/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: +4.6%)<\/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>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 72.81<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.21<\/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%<\/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 2653.60<\/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\">+0.9%<\/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 94,393.10<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+2.4% (YTD: +123.4%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The DFM rose 0.6% yesterday<\/strong> on turnover of AED 630.6 mn. The index is up 17.3% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green: <\/strong>National International Holding Company (+14.7%), Emirates REIT (CEIC) (+8.4%) and Takaful Emarat (+6.9%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>International Financial Advisors (-9.9%), National General Insurance Company (-9.8%) and Takaful Emarat - Rights Issue 2024 (-8.2%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over on the ADX<\/strong>, the index fell 0.2% on turnover of AED 1.2 bn. Meanwhile, Nasdaq Dubai closed up 0.5%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> CORPORATE ACTIONS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bank of Sharjah appointed Al Ramz as liquidity provider for its listed shares on <\/strong><strong>the DFM<\/strong>, starting today, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1968.pdf\" style=\"\" rel=\"noopener\">bourse disclosure (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai-based Al Sagr Ins.\u2019 board approved an AED 80 mn capital reduction to <\/strong>lower its capital to AED 150 mn to offset the firm\u2019s accumulated losses, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/1983.pdf\" style=\"\" rel=\"noopener\">DFM disclosure (pdf)<\/a>. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/european-central-bank\/\">European Central Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/global-markets\/\">global markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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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;\">NOVEMBER <\/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;\">19-27 November (Tuesday-Wednesday): Subscription period for the retail portion of Talabat\u2019s IPO. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>19-28 November (Tuesday-Thursday): Subscription period for the institutional portion of Talabat\u2019s IPO. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>19-21 November (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.prototypesforhumanity.com\/a-global-gathering-of-university-innovators\/\" style=\"\">Dubai Future Solutions \u2013 Prototypes for Humanity<\/a><\/span><span style=\"font-weight:400;\">, Emirates Towers, Dubai.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>19-21 November (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.adairexpo.com\/\" style=\"\">Air Expo<\/a><\/span><span style=\"font-weight:400;\">, Adnec, Abu Dhabi.<\/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>22-24 November (Friday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/guide.michelin.com\/ae-az\/en\" style=\"\">Michelin Guide Food Festival<\/a><\/span><span style=\"font-weight:400;\">, Emirates Palace Mandarin Oriental, Abu Dhabi.<\/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>23-24 November (Saturday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/forbesmiddleeastevents.com\/medical-tourism-and-wellness-summit\/\" style=\"\">Forbes Middle East Medical Tourism & Wellness Summit<\/a><\/span><span style=\"font-weight:400;\">, Jumeirah Beach Hotel, Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>25 November (Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/shf.sharjahtourism.ae\/SITTF2024\/\" style=\"\">The Sharjah International Tourism and Travel<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/shf.sharjahtourism.ae\/SITTF2024\/\" style=\"\"><\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/shf.sharjahtourism.ae\/SITTF2024\/\" style=\"\">Forum<\/a><\/span><span style=\"font-weight:400;\">, Expo Center, Sharjah.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26 November (Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.eventcreate.com\/e\/gcmasummit2024\" style=\"\">The Gulf Capital Market Summit<\/a><\/span><span style=\"font-weight:400;\">, Address Sky View, Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-27 November (Tuesday-Wednesday) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.gfss.ae\/\" style=\"\">Global Food Security Summit<\/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>26-27 November (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/mediaoffice.ae\/ar\/news\/2024\/october\/03-10\/global-womens-forum-dubai-2024-to-be-held-on-26-and-27-november\" style=\"\">Global Women\u2019s Forum Dubai<\/a><\/span><span style=\"font-weight:400;\">, Madinat Jumeirah, Dubai<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-27 November (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wam.ae\/ar\/article\/b5xzb5k-%D8%A7%D9%84%D9%86%D8%B3%D8%AE%D8%A9-%D8%A7%D9%84%D8%A7%D9%81%D8%AA%D8%AA%D8%A7%D8%AD%D9%8A%D8%A9-%D9%82%D9%85%D8%A9-%D8%A7%D9%84%D8%B0%D9%83%D8%A7%D8%A1-%D8%A7%D9%84%D8%A7%D8%B5%D8%B7%D9%86%D8%A7%D8%B9%D9%8A-%D9%85%D9%81%D8%AA%D9%88%D8%AD\" style=\"\">Open Source AI Summit<\/a><\/span><span style=\"font-weight:700\">, <\/span><span style=\"font-weight:400;\">The 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>26-28 November (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.liveablecitiesx.com\/\" style=\"\">Liveable Cities X<\/a><\/span><span style=\"font-weight:400;\">, Dubai World Trade Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-28 November (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.futurefm.com\/\" style=\"\">Future FM<\/a><\/span><span style=\"font-weight:400;\">, Dubai World Trade Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-28 November (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.geoworldevent.com\/\" style=\"\">Geo World<\/a><\/span><span style=\"font-weight:400;\">, Dubai World Trade Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-28 November (Tuesday-Thursday) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.globalmediacongress.ae\/en\/\" style=\"\">Global Media Congress 2024<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi National Exhibition Centre (ADNEC).<\/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 style=\"font-weight:400;\">27 November: Acceptance period for Adnoc\u2019s Covestro takeover bid ends. <\/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;\">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>4-5 December (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/sportimpactsummit.com\/\" style=\"\">Sport Impact Summit<\/a><\/span><span style=\"font-weight:400;\">, The Palm, Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-5 December (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/worldef.com\/events\/dubai-2024\/\" style=\"\">WORLDEF Dubai<\/a><\/span><span style=\"font-weight:400;\">, Dubai CommerCity. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-6 December (Wednesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.mediaoffice.abudhabi\/en\/topic\/abu-dhabi-business-week-adbw\/\" style=\"\">Abu Dhabi Business Week<\/a><\/span><span style=\"font-weight:400;\">, Adnec Center, Abu Dhabi.<\/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>5 December (Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/khalifafund.ae\/\" style=\"\">Khalifa Fund Entrepreneurship Competition<\/a><\/span><span style=\"font-weight:400;\">, Adnec center, Abu Dhabi. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>8-12 December (Sunday-Thursday):<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/wc.idadesal.org\/\" style=\"\">International Desalination and Reuse Association World Congress<\/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>13 December - 4 January (Friday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.mediaoffice.abudhabi\/en\/topic\/liwa-international-festival\/\" style=\"\">Liwa International Festival<\/a><\/span><span style=\"font-weight:400;\">, Al Dhafra, 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 style=\"font-weight:400;\">1- December (Tuesday): Talabat\u2019s shares will start trading on the DFM. <\/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>9-12 December (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/icdm2024.org\/\" style=\"\">IEEE International Conference on Data Mining 2024<\/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>10-11 December (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/logimotion.ae.messefrankfurt.com\/dubai\/en\/conferences\/global-trade-and-logistics-summit.html\" style=\"\">Global Trade and Infrastructure<\/a><\/span><span style=\"font-weight:400;\"> at Logimotion, Dubai World Trade Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>10-11 December (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/logimotion.ae.messefrankfurt.com\/dubai\/en\/conferences\/scalex.html\" style=\"\">SCALEX<\/a><\/span><span style=\"font-weight:400;\"> at Logimotion, Dubai World Trade Center. <\/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>10-12 December (Tuesday-Thursday): The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.mebaa.aero\/\" style=\"\">Middle East and North Africa Business Aviation Association Show<\/a><\/span><span style=\"font-weight:400;\">, 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>16-20 December (Monday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/aimsconference.org\/\" style=\"\">AIMS Conference 2024<\/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>6 December-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 style=\"font-weight:400;\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Signposted to happen sometime in 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>11-13 January (Saturday-Monday): The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.1billionsummit.com\/\" style=\"\">1 Bn Followers 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>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 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>14-16 January (Tuesday- Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/intersec.ae.messefrankfurt.com\/dubai\/en.html\" style=\"\">Intersec<\/a><\/span><span style=\"font-weight:400;\">, Dubai 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>19-24 January (Sunday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/coling2025.org\/\" style=\"\">Coling 2025<\/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>20-22 January (Saturday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.fespamiddleeast.com\/ar\" style=\"\">FESPA Middle East<\/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 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>1-28 February (Saturday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.mediaoffice.abudhabi\/en\/topic\/sheikh-mansour-bin-zayed-award-for-agricultural\/\" style=\"\">3rd Sheikh Mansour bin Zayed Agriculture Excellence Award<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">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>3-6 February (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.medlabme.com\/en\/home.html\" style=\"\">Medlab Middle East<\/a><\/span><span style=\"font-weight:400;\">, Dubai World Trade Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>16 February-1 March: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/dubaidutyfreetennischampionships.com\/\" style=\"\">Dubai Dutyfree Tennis Championships<\/a><\/span><span style=\"font-weight:400;\">, Dubai Dutyfree Tennis Stadium in Al Garhoud.<\/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>7-10 April 2025 (Monday-Thursday) : <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.efghldg.com\/en\/conferences\" style=\"\">EFG Hermes One on One<\/a><\/span><span style=\"font-weight:400;\"> conference, 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 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.ipscongress.com\/\" style=\"\">IPS congress<\/a><\/span><span style=\"font-weight:400;\">, Dubai World Trade Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>16-18 April (Wednesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldfutureenergysummit.com\/\" style=\"\">World Future Energy Summit,<\/a><\/span><span style=\"font-weight:400;\">Abu Dhabi National Exhibition, Abu Dhabi. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>28 April-1 May (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wtm.com\/atm\/en-gb.html\" style=\"\">The Arabian Travel Market 2025<\/a><\/span><span style=\"font-weight:400;\">, Dubai World Trade 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 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>19-22 May (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wam.ae\/article\/b5xzjfz-fourth-edition-make-the-emirates-forum-2025-take\" style=\"\">Make it in the Emirates Forum 2025<\/a><\/span><span style=\"font-weight:400;\">, Adnec, Abu Dhabi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26-28 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;\">SEPTEMBER 2025 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>8-10 September (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/digihealth.ai\/\" style=\"\">DigiHealth exhibition<\/a><\/span><span style=\"font-weight:400;\">, World Trade Center, Dubai. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">24-25 September (Wednesday-Thursday): Mohammed Bin Rashid Leadership Forum, Mohammed Bin Rashid Center for Leadership Development, Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">OCTOBER 2025 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">27-29 October (Monday-Wednesday): Asia Pacific Cities Summit, Dubai Exhibition 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;\">NOVEMBER 2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>18-19 November (Tuesday-Wednesday): Dubai Future Forum, 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 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;\">Executive Committee Meeting (EXCOM 2025) conference of the World Smart Sustainable Cities Organisation (WeGO)<\/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><span style=\"font-weight:400;\">United Nations Water Conference 2026, UAE<\/span><\/li>\n<\/ul>\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>GCC fund passporting gets green light | Mashreq inks Qatar\u2019s first private sector s-linked facility<\/p>\n","protected":false},"featured_media":98123,"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-98122","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"3887978c-b6c7-45ec-ac3a-706c10642016","teaser":"GCC fund passporting gets green light | Mashreq inks Qatar\u2019s first private sector s-linked facility","photo_url":"https:\/\/ent.news\/2024\/4\/518.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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