{"id":98533,"date":"2024-12-06T00:00:00","date_gmt":"2024-12-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=98533"},"modified":"2025-12-15T02:14:40","modified_gmt":"2025-12-15T02:14:40","slug":"mubadala-acquires-silver-rock-zelis-and-welcomes-new-shareholders","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/mubadala-acquires-silver-rock-zelis-and-welcomes-new-shareholders\/","title":{"rendered":"Mubadala acquires Silver Rock, Zelis \u2014 and welcomes new shareholders"},"content":{"rendered":"<section id=\"98535\" 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=\"98535\">\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\/12\/06\/this-morning-mair-group-sets-reference-price-for-adx-listing-could-redbird-still-hold-onto-the-telegraph\/\">\r\n                            THIS MORNING: Mair Group sets reference price for ADX listing + Could RedBird still hold onto the Telegraph?                        <\/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\/12\/06\/this-morning-mair-group-sets-reference-price-for-adx-listing-could-redbird-still-hold-onto-the-telegraph\/\" 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\/12\/06\/this-morning-mair-group-sets-reference-price-for-adx-listing-could-redbird-still-hold-onto-the-telegraph\/')\">\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\/12\/06\/this-morning-mair-group-sets-reference-price-for-adx-listing-could-redbird-still-hold-onto-the-telegraph\/\">\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=THIS MORNING: Mair Group sets reference price for ADX listing + Could RedBird still hold onto the Telegraph?&url=https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/this-morning-mair-group-sets-reference-price-for-adx-listing-could-redbird-still-hold-onto-the-telegraph\/\">\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\/12\/06\/this-morning-mair-group-sets-reference-price-for-adx-listing-could-redbird-still-hold-onto-the-telegraph\/&title=THIS MORNING: Mair Group sets reference price for ADX listing + Could RedBird still hold onto the Telegraph?\">\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=THIS+MORNING%3A+Mair+Group+sets+reference+price+for+ADX+listing+%2B+Could+RedBird+still+hold+onto+the+Telegraph%3F+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F12%2F06%2Fthis-morning-mair-group-sets-reference-price-for-adx-listing-could-redbird-still-hold-onto-the-telegraph%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\/12\/06\/this-morning-mair-group-sets-reference-price-for-adx-listing-could-redbird-still-hold-onto-the-telegraph\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/900.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"98536\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/this-morning-mair-group-sets-reference-price-for-adx-listing-could-redbird-still-hold-onto-the-telegraph\/900-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/900.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"900.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/900.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/900.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98535\" class=\"content-area-description single-story post-98535 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-redbird-imi tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.4b7e5b9d-9556-4323-94ca-cdacad1100d1.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, friends. <\/strong>We were not kidding when we said the UAE is \u201cback to business\u201d after the long weekend \u2014 it seems everyone has squeezed a week\u2019s worth of work into just two days based on the newsflow today. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We have a string of M&amp;A news from Mubadala<\/strong>, who, for the first time, accepted outside equity into one of its subsidiaries as part of a transaction; as well as acquisitions from NMDC's new logistics unit, NMDC LTS, and Aliph Capital. Plus: <strong>ADGM now has a regulatory framework for stablecoins<\/strong>, and we have <strong>fresh data<\/strong> on the <strong>UAE\u2019s fiscal surplus<\/strong> in 9M 2024, and <strong>trade figures<\/strong> from <strong>Abu Dhabi<\/strong>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- It\u2019s slightly warmer in Dubai today<\/strong>, with a high of 28\u00b0C and a low of 22\u00b0C. In A<strong>bu Dhabi<\/strong>, we have a high of 26\u00b0C, and an overnight low of 24\u00b0C. <\/p>\n<p class=\"tag-border-left\">WATCH THIS SPACE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Abu Dhabi investment firm Mair Group set a reference price of AED 1.16 for its <\/strong><strong>direct listing on ADX<\/strong>, with plans to float the share price for the first three days of trading, according to an ADX <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/560.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a>. Trading is set to begin on 9 December. The company, which specializes in food retail and commercial real estate, was recently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/5e533d0f-095c-4daa-98e4-a4e8644bf08d\/us-asset-manager-pgim-launches-first-regional-office-in-adgm\" style=\"\" rel=\"noopener\">consolidated<\/a>, with Adcoop and Makani moving under its wing in September.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>In a direct or technical listing, the share price is determined based on supply and demand, but the company sets a reference price to calculate how its share price is performing from the day its shares debut on the exchange. The key difference between a direct listing and an IPO is that a direct listing does not involve a bookbuilding process or underwriters \u2014 it simply makes the company\u2019s existing shares tradeable on the bourse. Agility Global <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/40cd08aa-1d5d-4ea6-a6e3-dfba0d137825\/%253cmark%253eagility%253c%2Fmark%253e%253cmark%253e-global%253c%2Fmark%253e-shares-jump-more-than-four-fold-on-adx-debut\" style=\"\" rel=\"noopener\">had a technical listing<\/a> on the ADX earlier in May, where it saw its reference share price jump 327% on the first day of trading. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a><strong> #2- Adia cleared by Indian competition watchdog for GMR Group debt subscription: <\/strong>Abu Dhabi sovereign wealth fund Adia received the greenlight from the Competition Commission of India to invest in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/01f689f3-8de7-41e3-81e5-e447215fce82\/adia-to-invest-usd-750-mn-in%253cmark%253e-gmr%253c%2Fmark%253e-group'\" style=\"\" rel=\"noopener\">USD 750 mn of Indian infrastructure firm and airport operator GMR Group\u2019s debt<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/569.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> from the commission. A GMR Group special purpose vehicle will acquire a 9% stake in GMR\u2019s airport unit GMR Airports as part of the transaction, in order to pledge it to Adia to secure its subscription. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>Adia had said it would invest in GMR Group\u2019s debt in October, as the Indian firm looks to refinance its external debt and reduce pledged shareholding in its airports business, Reuters had said at the time. The company reported a total debt of INR 44.77 bn (c. USD 532.5 mn), an increase of nearly 4% y-o-y, in its latest annual report.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#3- Another Edgnex data center in Greece:<\/strong> Edgnex Data Centers, a joint venture (JV) between Damac and PPC Group, launched Data In Scale, a JV focusing on the development of a data center in Spata, Greece. The joint venture will see Damac holding a 55% stake and PPC Group owning 45%, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/edgnex-data-centers-by-damac-and-ppc-group-announce-new-data-center-in-attica-greece-ycol2td9\" 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 details:<\/strong> The first phase of the project involves an investment of EUR 150 mn to establish 12.5 MW of capacity, with plans to expand to 25 MW in subsequent phases. Currently in the design and licensing stages, construction is set to commence in 1Q 2025, with the aim of completing the first phase within two years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI:<\/strong> Damac Group plans to invest approximately <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/6f5f69bb-be3a-4d40-89a5-9860888d73ac\/damac-group-to-invest-usd-3-bn-in-southeast-asia'\" style=\"\" rel=\"noopener\">USD 3 bn<\/a> in establishing data centers across Southeast Asia through its subsidiary Edgnex, and between USD 5 and 7 bn to expand globally. The company is primarily targeting Malaysia, Indonesia, and Thailand in Southeast Asia.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Despite the ongoing regional conflict,<\/strong> Abu Dhabi\u2019s economy is expected to lead growth in the UAE next year at 5.6%, <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/economy\/gcc\/war-in-levant-likely-to-end-in-h1-2025-uae-will-lead-gcc-growth-bmi-crj8m806\" style=\"\" rel=\"noopener\">Zawya<\/a> reports, citing data from BMI, a unit of Fitch Solutions. Dubai's growth is forecasted at 3.5%, driven by strong investment, private consumption, and a recovery in oil production. The UAE's non-oil sector is expected to grow by 6%, while the oil sector is set to recover by 2.5% as Opec+ eases supply restrictions later in the year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Fitch previously forecast the UAE's economy to grow by <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/d5e7a19c-09e8-48b5-94bd-ad5658cb24a2\/fitch-trims-mena-growth-to-1.8%2525-in-2024\" style=\"\" rel=\"noopener\">5.2%<\/a> in 2025, making it the fastest growing economy in the Gulf region next year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fitch sees the war between Israel and Hamas and Hezbollah ending in the first half of 2025<\/strong>, with US President-elect Donald Trump\u2019s push to expand the Abraham Accords influencing the Israel-Hamas conflict, the report is cited as saying. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#5- Could RedBird potentially hold onto The Telegraph? <\/strong>UK Prime Minister Keir Starmer has not dismissed the possibility of revising the ban on foreign state ownership of UK newspapers ahead of his upcoming <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/d81ad426-65fa-42eb-9a8c-5089eac7eb0c\/this-morning:-uk-prime-minister-to-head-to-the-gcc-next-month?\" style=\"\" rel=\"noopener\">visit to the UAE<\/a> sometime this month, <a target=\"_blank\" href=\"https:\/\/www.telegraph.co.uk\/business\/2024\/12\/04\/starmer-could-water-down-ban-on-uae-ownership-of-telegraph\/\" style=\"\" rel=\"noopener\">The Telegraph<\/a> reports. This comes after the UK government recently passed a law preventing UAE-backed RedBird IMI from taking over The Telegraph, which led to the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/18315aa5-f75c-4280-a5ac-a902169bcd13\/paul-marshall-acquires-the%253cmark%253e-spectator%253c%2Fmark%253e-from-redbird-imi\" style=\"\" rel=\"noopener\">sale of its sister magazine<\/a> the Spectator in September. . <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Enterprise Act currently prohibits foreign state ownership or influence over newspaper mergers<\/strong>, but the government has yet to introduce secondary legislation to clarify any exceptions since consultations concluded after the last general election. One proposal under discussion would allow sovereign wealth funds to hold up to 5% of UK newspapers, though there have been proposals from Treasury to raise that cap as the UK government eyes more funding from the GCC. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#6- Stake to expand Saudi footprint: <\/strong>Dubai-based fractional ownership firm <a target=\"_blank\" href=\"https:\/\/getstake.com\/\" style=\"\" rel=\"noopener\">Stake<\/a> plans to invest SAR 1 bn (USD 266 mn) in property agreements in Saudi Arabia over the next six months, its co-founder and CEO Rami Tabbara told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-05\/saudi-arabia-s-real-estate-market-dubai-based-stake-offers-134-entry\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. The planned investments includes acquiring a fully-rented mall in Riyadh for SAR 187 mn and purchasing a residential tower with over 140 apartments for SAR 200 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Stake has seen \u201camazing demand\u201d from investors since its soft launch in the Kingdom<\/strong>, on the back of high rental yields of 7-8%. The company plans to officially launch operations in Saudi Arabia on 9 December.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- We knew this was coming: <\/strong>Stake raised USD 14 mn in series A funding <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ac8c8da9-4a20-4315-ad63-83f0e7104736\/%253cmark%253estake%253c%2Fmark%253e-raises-usd-14-mn-to-expand-to-ksa-%2B-elevate-raises-usd-5-mn\" style=\"\" rel=\"noopener\">earlier in June<\/a> to expand its pool of investors and enter Saudi Arabia this year. The company said it would use the funds to become the first platform to allow individuals outside of the kingdom to invest in Saudi real estate. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not only eyeing KSA: <\/strong>The company is also preparing to launch in Abu Dhabi early next year, Tabbara said.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#7- DP World plans to expand in India: <\/strong>UAE-based port operator DP World intends to boost its presence in India by expanding into more industrial parks and logistics projects, aiming to address trade bottlenecks and ease cargo movement from ports to customers, CEO Sultan Ahmed Bin Sulayem said in a <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-05\/uae-port-operator-dp-world-plans-india-expansion-to-ease-delays\" style=\"\" rel=\"noopener\">Bloomberg<\/a> interview.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>China is also an area of interest:<\/strong> The Chinese market is also an area of interest for DP World as it recovers from the pandemic and factories continue to manage cargo backlogs, Sulayem added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DP has ties in India: <\/strong>The port operator launched operations at Cochin Economic Zone in the Vallarpadam terminal <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/9df916f6-4cab-4ff5-849b-3727427b1a33\/dp-world-kicks-off-operations-at-india%25e2%2580%2599s-cochin-economic-zone\" style=\"\" rel=\"noopener\">back<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/9df916f6-4cab-4ff5-849b-3727427b1a33\/dp-world-kicks-off-operations-at-india%25e2%2580%2599s-cochin-economic-zone\" style=\"\" rel=\"noopener\">in June<\/a> and also operates in Mumbai\u2019s Nhava Sheva Business Park and Chennai\u2019s Integrated Chennai Business Park.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#8- ADDED, ADDGE launch Golden Vendor list: <\/strong>The Abu Dhabi Department of Economic Development (ADDED) and the Abu Dhabi Department of Government Enablement (ADDGE) extended the scope of the Golden List with the introduction of a Golden Vendor list of local suppliers, covering 145 industries and addressing 74% of the government\u2019s procurement needs, according to the <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/economy\/in-collaboration-with-department-of-government-enablement-abu-dhabi-department-of-economic-development-launches-updated-golden-vendor-list-to-support-local-businesses-and-industries\/\" style=\"\" rel=\"noopener\">Abu Dhabi Media Office<\/a>. The list will later be expanded to include high-demand services, and will be integrated into the government\u2019s tender processes to prioritize local content in procurement evaluations and encourage local manufacturing and supplier purchases.<\/p>\n<p class=\"tag-border-left\">PSAs-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a> <strong>The alcohol tax is back: <\/strong>All alcohol orders in Dubai will once again be subject to a 30% municipality alcohol sales tax starting 1 January, 2025, <a target=\"_blank\" href=\"https:\/\/www.caterermiddleeast.com\/news\/dubai-reintroduces-30-alcohol-sales-tax-for-2025\" style=\"\" rel=\"noopener\">Caterer Middle East<\/a> reports. Alcohol distributors MMI and African+Eastern notified affected restaurants and bars in the emirate about the reinstatement of the tax.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>The emirate suspended the alcohol sales tax <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/dubai-scraps-30-tax-alcohol-sales-amid-economic-rebound-2023-01-02\/\" style=\"\" rel=\"noopener\">at the end of 2022<\/a> for an initial one-year trial period throughout 2023, aiming to reduce alcohol costs for businesses and consumers. The suspension was quietly extended through 2024, with no official announcement made.<\/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- The two-day <\/strong><strong><a target=\"_blank\" href=\"https:\/\/milkeninstitute.org\/events\/middle-east-and-africa-summit-2024\" style=\"\" rel=\"noopener\">Milken Institute Middle East and Africa Summit<\/a><\/strong><strong> is on its second and final day<\/strong> at St. Regis Saadiyat Island in Abu Dhabi. The summit gathers key business and philanthropic leaders, health and finance experts, and policymakers to discuss solutions aimed at addressing various global issues, including climate change, public health crises, and energy insecurities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.adbusinessweek.com\/\" style=\"\" rel=\"noopener\">Abu Dhabi Business Week<\/a><\/strong><strong> is on its third and final day <\/strong>at the Adnec Center in Abu Dhabi. The event features discussions aimed at supporting business development in the emirate.<\/p>\n<p class=\"tag-border-left\"> THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a mixed bag in the foreign press this morning<\/strong>, with more updates on France\u2019s government after the resignation of Prime Minister Michel Barnier, Syrian rebels advancing in Syria, and some AI news. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- French President Emmanuel Macron will appoint a new prime minister in the coming days<\/strong>, with the priority for his selection being the budget \u2014 the key point of contention that led parliament to vote out Barnier. Macron pledged to fulfill his five-year term ending in 2027 despite calls from opposition for him to resign. The Guardian has a <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/2024\/dec\/05\/who-might-emmanuel-macron-choose-as-frances-new-prime-minister\" style=\"\" rel=\"noopener\">list<\/a> of potential candidates. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/barnier-expected-resign-frances-festering-political-crisis-rumbles-2024-12-05\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/world\/2024\/12\/05\/michel-barnier-resignation-france-no-confidence\/\" style=\"\" rel=\"noopener\">Washington Post<\/a> | <a target=\"_blank\" href=\"https:\/\/www.france24.com\/en\/europe\/20241205-macron-to-address-nation-following-pm-barnier-resignation-political-crisis\" style=\"\" rel=\"noopener\">France24<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- CLOSER TO HOME- In Syria, Syrian rebels captured the central city of Hama in another blow to the Assad regime<\/strong>, after capturing Aleppo last week. The capture of Hama will make it more difficult for Assad and his allies to launch a counteroffensive against the rebels, and will make it easier for them to capture Homs, south of Hama, which is Syria\u2019s third-largest city. (<a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/syria-aleppo-hama-massacre-assad-799f37fd2608532a253cccb48df4e613\" style=\"\" rel=\"noopener\">AP<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/syrian-rebels-say-they-have-begun-enter-crucial-city-hama-2024-12-05\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/2024\/dec\/05\/islamist-rebels-seize-strategic-city-of-hama-from-syrian-regime-forces\" style=\"\" rel=\"noopener\">Guardian<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnn.com\/2024\/12\/05\/middleeast\/syria-rebels-hama-government-intl\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- IN AI NEWS- Elon Musk\u2019s xAI secured USD 6 bn in new funding <\/strong>from 97 investors, according to a <a target=\"_blank\" href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/2002695\/000200269524000003\/xslFormDX01\/primary_doc.xml\" style=\"\" rel=\"noopener\">regulatory filing<\/a>, which did not name any specific investors. The funding round was rumored to value the startup at some USD 40 bn. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-05\/musk-s-xai-wraps-up-6-billion-in-funding-in-latest-round?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/techcrunch.com\/2024\/12\/05\/elon-musks-xai-lands-billions-in-new-cash-to-fuel-ai-ambitions\/\" style=\"\" rel=\"noopener\">TechCrunch<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Saudi Arabia\u2019s PIF had previously invested in <a target=\"_blank\" href=\"https:\/\/x.ai\/\" style=\"\" rel=\"noopener\">xAI<\/a>, and Abu Dhabi investor MGX was also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/b411b4f0-9f8e-4012-ac8a-5a85c1a9d6c7\/this-morning:-is-mgx-eyeing-an-investment-in-elon-musk%25e2%2580%2599s-ai-startup%3F-%2B-a-new-usd-1-bn-fund-is-coming-to-abu-dhabi\" style=\"\" rel=\"noopener\">rumored to be eyeing an investment<\/a> in the startup.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p class=\"tag-border-left\"> OIL WATCH- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>Opec+ will delay its planned output hike to April 2025, planning to fully remove <\/strong><strong>production cuts by the end of 2026<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.opec.org\/opec_web\/en\/press_room\/7420.htm\" style=\"\" rel=\"noopener\">statement<\/a>. The group will gradually unwind 2.2 mn bpd of cuts from April 2025 through monthly increases of 138k barrels per day (bbl \/ d) until September 2026, according to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/opec-will-delay-oil-output-hike-meeting-source-says-2024-12-05\/\" style=\"\" rel=\"noopener\">Reuters\u2019<\/a> calculations. This move marks the group\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/585d8d94-ac28-4261-90ad-670199174838\/covestro%25e2%2580%2599s-shareholders-greenlight-adnoc%25e2%2580%2599s-takeover-%2B-fuel-prices-at-their-lowest-this-year-in-december\" style=\"\" rel=\"noopener\">third time it has delayed<\/a> plans to phase out oil supply amid a slowdown in global demand and a rise in supply outside the cartel.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The organization also agreed to allow the UAE to increase its production by 300k bbl \/ d gradually from April 2025<\/strong> instead of the beginning of the year <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/54d158d4-5a72-498f-9604-196685f72a65\/%253cmark%253eopec%253c%2Fmark%253e%2B-extends-supply-cuts,-granting-the-uae-a-higher-production-quota-for-2025\" style=\"\" rel=\"noopener\">as previously agreed<\/a> until September 2026. <\/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\"><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.&nbsp;<a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/user\/news-letters\" rel=\"noopener\">Tap or click here<\/a><span style=\"background-color: transparent;\"> to get your own copy of EnterpriseAM UAE.<\/span><\/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\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\/redbird-imi\/\">Redbird IMI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/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=\"98537\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n    <div class=\"issue-sponsor-slides-div\">\r\n        \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/43010.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.mashreq.com\/en\/uae\/neo\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/20607.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Rise every day<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/43009.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/hap.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/117160.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>From OUR FAMILY to YOURS<\/span>\r\n                <\/div>\r\n            <\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"98538\" 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=\"98538\">\r\n            \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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/mubadala-subsidiaries-acquire-stakes-in-silver-rock-zelis\/\">\r\n                            Mubadala subsidiaries acquire stakes in Silver Rock, Zelis                        <\/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\/12\/06\/mubadala-subsidiaries-acquire-stakes-in-silver-rock-zelis\/\" 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\/12\/06\/mubadala-subsidiaries-acquire-stakes-in-silver-rock-zelis\/')\">\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\/12\/06\/mubadala-subsidiaries-acquire-stakes-in-silver-rock-zelis\/\">\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=Mubadala subsidiaries acquire stakes in Silver Rock, Zelis&url=https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/mubadala-subsidiaries-acquire-stakes-in-silver-rock-zelis\/\">\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\/12\/06\/mubadala-subsidiaries-acquire-stakes-in-silver-rock-zelis\/&title=Mubadala subsidiaries acquire stakes in Silver Rock, Zelis\">\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=Mubadala+subsidiaries+acquire+stakes+in+Silver+Rock%2C+Zelis+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F12%2F06%2Fmubadala-subsidiaries-acquire-stakes-in-silver-rock-zelis%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\/12\/06\/mubadala-subsidiaries-acquire-stakes-in-silver-rock-zelis\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1231.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"98539\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/mubadala-subsidiaries-acquire-stakes-in-silver-rock-zelis\/1231-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1231.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1231.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1231.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1231.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98538\" class=\"content-area-description single-story post-98538 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-enterpriseam-uae tag-healthcare tag-investment-watch tag-ma-watch tag-mubadala tag-mubadala-capital tag-mubadala-investment-company 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\/12\/.3cff784a-2a5c-40a9-8206-769a590034bf.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Two of Abu Dhabi sovereign wealth fund Mubadala\u2019s subsidiaries <\/strong><strong>have acquired stakes in companies overseas<\/strong>, with one of the transactions seeing Mubadala Capital receive outside equity for the first time. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1-<\/strong> <strong>Mubadala Capital, the asset management arm of Abu Dhabi's sovereign wealth <\/strong><strong>fund Mubadala, is acquiring a 42% stake in Los Angeles-based credit investment firm Silver Rock Financial <\/strong>through a combination of cash and equity, according to a <a target=\"_blank\" href=\"https:\/\/www.prnewswire.com\/news-releases\/mubadala-capital-announces-strategic-partnership-with-silver-rock-financial-302323724.html\" style=\"\" rel=\"noopener\">press release<\/a>. As part of this agreement, Mubadala Capital will also receive an equity investment from Milken's family office, marking the first time the Abu Dhabi-based firm has accepted outside equity.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s on board? <\/strong>CEO and CIO of Silver Rock Financial Carl Meyer, Co-founder and Co-Portfolio Manager Michael Haberkorn; and M-Cor Capital, the investment arm of the Milken Family Office. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mubadala Capital will also commit USD 1 bn in funds to Silver Financial over time<\/strong>, the statement said, without clarifying a specific timeline or targeted funds. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Silver Rock:<\/strong> Silver Rock \u2014 which is backed by the family office of financier Michael Milken, known as the \u201cjunk bond king\u201d \u2014 manages around USD 10 bn in assets, specializing in structured products and high-yield debt. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not the first tie-up between Mubadala and Silver Rock: <\/strong>The two firms worked together on the 2012 takeover of EMI Music Publishing, which they sold to Sony for USD 4.75 bn in 2018. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This acquisition marks the latest in a series of moves to push further into private credit investments,<\/strong> with the sovereign wealth fund recently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/0c1d0615-1443-4994-8552-30b8a447b4dc\/mubadala-and-apollo-expand-multi-bn-partnership-for-the-second-time\" style=\"\" rel=\"noopener\">extending its multi-bn-USD partnership<\/a> with US-based <a target=\"_blank\" href=\"https:\/\/www.apollo.com\/\" style=\"\" rel=\"noopener\">Apollo Management<\/a>, focusing on private debt and equity financing. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Mubadala secures a minority stake in Zelis: <\/strong>Mubadala Investment Company completed its acquisition of a minority stake in <a target=\"_blank\" href=\"https:\/\/www.zelis.com\/\" style=\"\" rel=\"noopener\">Zelis<\/a>, a US-based healthcare tech provider, according to a <a target=\"_blank\" href=\"https:\/\/www.zelis.com\/news\/zelis-adds-investors-reflecting-strong-market-confidence-in-mission\/\" style=\"\" rel=\"noopener\">press release<\/a>. The sovereign wealth fund led the investment, joined by a group of investors including Norwest and HarbourVest.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mubadala had been working on this agreement since October<\/strong>, which was said to value Zelis at around <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f1cc1c1b-17b6-4a38-a068-dce08ac0ebcb\/this-morning:-mubadala-is-close-to-acquiring-a-stake-in-healthtech-firm%253cmark%253e-zelis%253c%2Fmark%253e-%2B-abu-dhabi-to-hike-film-rebates-at-the-start-of-2025\" style=\"\" rel=\"noopener\">USD 17 bn<\/a>. The transaction was also said to involve a mix of equity and debt to acquire the stake from Bain and Parthenon Capital, which remain majority owners.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS-<\/strong> Goldman Sachs and JP Morgan advised Zelis, with legal counsel from Kirkland & Ellis. Mubadala was advised by Evercore, with Akin Gump as legal counsel.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mubadala has been on an acquisition spree this year:<\/strong> Highlights include teaming up with private equity firms to buy US-based Truist Insurance Holdings for USD 12.4 bn in February \u2014 the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/7c696382-5c7b-4d04-a7ab-22dd5f740c7c\/uae-leads-m&a-activity-in-9m-2024-alongside-ksa--ey\" style=\"\" rel=\"noopener\">largest acquisition<\/a> of 2024 \u2014 and co-investing <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/2914b5d6-d173-4cb9-8b71-ef3825fb7990\/mubadala,-adia-invest-in-chinese-mall-unit\" style=\"\" rel=\"noopener\">USD 8.3 bn<\/a> in Dalian Wanda\u2019s mall unit, the third-largest transaction of the period. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/healthcare\/\">Healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/mubadala\/\">Mubadala<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/mubadala-capital\/\">Mubadala Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/mubadala-investment-company\/\">Mubadala Investment Company<\/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=\"98540\" 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=\"98540\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/govt-revenues-reached-aed-404-9-bn-in-9m-2024\/\">\r\n                            Gov\u2019t revenues reached AED 404.9 bn in 9M 2024                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/govt-revenues-reached-aed-404-9-bn-in-9m-2024\/\" 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\/12\/06\/govt-revenues-reached-aed-404-9-bn-in-9m-2024\/')\">\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\/12\/06\/govt-revenues-reached-aed-404-9-bn-in-9m-2024\/\">\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=Gov\u2019t revenues reached AED 404.9 bn in 9M 2024&url=https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/govt-revenues-reached-aed-404-9-bn-in-9m-2024\/\">\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\/12\/06\/govt-revenues-reached-aed-404-9-bn-in-9m-2024\/&title=Gov\u2019t revenues reached AED 404.9 bn in 9M 2024\">\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=Gov%E2%80%99t+revenues+reached+AED+404.9+bn+in+9M+2024+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F12%2F06%2Fgovt-revenues-reached-aed-404-9-bn-in-9m-2024%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\/12\/06\/govt-revenues-reached-aed-404-9-bn-in-9m-2024\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/639.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"98541\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/govt-revenues-reached-aed-404-9-bn-in-9m-2024\/639-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/639.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"639.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/639.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/639.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98540\" class=\"content-area-description single-story post-98540 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-budget-watch tag-economy tag-enterpriseam-uae 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\/12\/.f4186b67-7c48-4e4e-aa1a-90b27bf1f694.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Government revenues \u2014 including both federal and local \u2014 reached<\/strong><strong> AED 404.9 <\/strong><strong>bn in 9M 2024<\/strong>, according to the latest data from the Finance Ministry picked up by <a target=\"_blank\" href=\"https:\/\/www.alkhaleej.ae\/2024-12-04\/405-%D9%85%D9%84%D9%8A%D8%A7%D8%B1%D8%A7%D8%AA-%D8%AF%D8%B1%D9%87%D9%85-%D8%A7%D9%84%D8%A5%D9%8A%D8%B1%D8%A7%D8%AF%D8%A7%D8%AA-%D8%A7%D9%84%D8%AD%D9%83%D9%88%D9%85%D9%8A%D8%A9-%D9%81%D9%8A-%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D8%AE%D9%84%D8%A7%D9%84-9-%D8%B4%D9%87%D9%88%D8%B1\/%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>. Taxes accounted for the lion\u2019s share of revenue, contributing 67.3% or AED 272.7 bn, while other revenues totaled AED 119.7 bn, and social contributions added AED 12.5 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government recorded a <\/strong><strong>fiscal surplus<\/strong><strong> of AED 96.2 bn<\/strong>, with total expenditures amounting to AED 308.6 bn during the first nine months of the year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Breakdown of expenditures:<\/strong><\/p>\n<ul>\n<li>AED 92.5 bn went to <strong>salaries<\/strong> and <strong>employee compensation<\/strong>;<\/li>\n<li>AED 88.5 bn were spent on <strong>goods and services<\/strong>;<\/li>\n<li>AED 54.1 bn were directed toward <strong>social benefits<\/strong>, and AED 22.1 bn to financial aid;<\/li>\n<li>AED 10.7 bn were allocated to <strong>financial interest payments<\/strong>;<\/li>\n<li>AED 7.3 bn for <strong>fixed capital consumption<\/strong>, and AED 804k for financial grants;<\/li>\n<li>AED 20.7 bn invested in <strong>non-financial assets<\/strong>;<\/li>\n<li>AED 11.5 bn accounted for other expenses.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a 3Q basis, the government collected AED 141 bn in revenues<\/strong>, reflecting a 1.5% q-o-q decrease from 2Q but an increase of 16.9% compared to the first quarter of the year. Total expenditures reached AED 110.5 bn in 3Q, up 9.4% q-o-q from 2Q and 13.9% from 1Q.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- The government plans to spend more next year:<\/strong> The Federal National Council <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/b98258ac-1eee-4b07-926c-f6ee18144d97\/fnc-approves-bumper-federal%253cmark%253e-budget%253c%2Fmark%253e-for-2025\" style=\"\" rel=\"noopener\">approved a draft federal law<\/a> linking the Union General budget and independent federal entities' budgets for 2025, bringing the total to AED 71.5 bn in both revenues and expenditures. The budget, which the cabinet <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/0960dafe-47da-41d7-ab49-8c97b9474e4c\/uae-cabinet-approves-record-aed-71.5-bn-2025%253cmark%253e-budget%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">approved earlier in October<\/a>, marks the largest in UAE history and sets out a 12% y-o-y increase in expenditure compared to 2024\u2019s budget of AED 64.06 bn.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/budget-watch\/\">BUDGET WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/economy\/\">Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"98542 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"98542\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/98542-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98542\" class=\"content-area-description single-story post-98542 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.mashreq.com\/en\/uae\/about-us\/sustainability\/climb2change\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1254.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"98543\" 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=\"98543\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/nmdc-lts-to-snap-up-70-of-emdad\/\">\r\n                            NMDC LTS to snap up 70% of Emdad                        <\/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\/12\/06\/nmdc-lts-to-snap-up-70-of-emdad\/\" 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\/12\/06\/nmdc-lts-to-snap-up-70-of-emdad\/')\">\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\/12\/06\/nmdc-lts-to-snap-up-70-of-emdad\/\">\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=NMDC LTS to snap up 70% of Emdad&url=https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/nmdc-lts-to-snap-up-70-of-emdad\/\">\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\/12\/06\/nmdc-lts-to-snap-up-70-of-emdad\/&title=NMDC LTS to snap up 70% of Emdad\">\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=NMDC+LTS+to+snap+up+70%25+of+Emdad+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F12%2F06%2Fnmdc-lts-to-snap-up-70-of-emdad%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\/12\/06\/nmdc-lts-to-snap-up-70-of-emdad\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/2177.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"98544\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/nmdc-lts-to-snap-up-70-of-emdad\/2177-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/2177.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2177.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/2177.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/2177.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98543\" class=\"content-area-description single-story post-98543 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-energy tag-enterpriseam-uae tag-ma-watch tag-nmdc 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\/12\/.74c0bc0d-a4f2-436f-a0b7-1a79e0bd9ed3.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>NMDC LTS moves to acquire 70% stake in Emdad: <\/strong>NMDC\u2019s new logistics arm,  <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/d6589f8c-259d-4bc1-83ad-0da701730fd6\" style=\"\" rel=\"noopener\">NMDC<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/d6589f8c-259d-4bc1-83ad-0da701730fd6\" style=\"\" rel=\"noopener\">LTS<\/a>, is set to acquire a 70% stake in Abu Dhabi-based oil and gas services firm Emdad for an undisclosed sum, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/554.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>. The agreement is pending regulatory approvals and endorsements from stakeholders within and outside the UAE. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Emdad: <\/strong>The Abu Dhabi-based company provides oilfield services, including operations, maintenance, and well construction, as well as shipping and marine services, offering offshore and logistical support, vessel management, cross chartering, and offshore transportation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emdad\u2019s clients: <\/strong>Emdad has long-standing relationships with major players in the industry, including Adnoc, Borouge, and Emirates Global Aluminum (EGA).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s been hints: <\/strong>NMDC has been looking to acquire a 70% stake in Emdad since <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/0afba913-d5a0-4915-ab7d-d7116548b259\/al-ansari-financial-services-to-fully-acquire-bahrain%25e2%2580%2599s-bfc-group\" style=\"\" rel=\"noopener\">July<\/a>. The company submitted a binding offer of an undisclosed value after completing due diligence.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>NMDC Group <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/74152cf3-6207-40c4-92de-1d659079ee55\/enersol-finalizes-its-usd-45-mn-acquisition-of-ev-holdings-+-aldar-acquires-aed-2.3-bn-difc-tower\" style=\"\" rel=\"noopener\">launched<\/a> NMDC LTS this week with a focus on marine logistics and technical operations as part of the company\u2019s strategy to diversify its portfolio.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/nmdc\/\">NMDC<\/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=\"98545\" 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=\"98545\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/aliph-capital-acquires-25-stake-in-sanipex-group\/\">\r\n                            Aliph Capital acquires 25% stake in Sanipex Group                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/aliph-capital-acquires-25-stake-in-sanipex-group\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/aliph-capital-acquires-25-stake-in-sanipex-group\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/aliph-capital-acquires-25-stake-in-sanipex-group\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Aliph Capital acquires 25% stake in Sanipex Group&url=https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/aliph-capital-acquires-25-stake-in-sanipex-group\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/aliph-capital-acquires-25-stake-in-sanipex-group\/&title=Aliph Capital acquires 25% stake in Sanipex Group\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Aliph+Capital+acquires+25%25+stake+in+Sanipex+Group+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F12%2F06%2Faliph-capital-acquires-25-stake-in-sanipex-group%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/aliph-capital-acquires-25-stake-in-sanipex-group\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1201.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"98546\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/aliph-capital-acquires-25-stake-in-sanipex-group\/1201-jpg-25\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1201.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1201.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1201.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1201.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98545\" class=\"content-area-description single-story post-98545 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-acquisition tag-aliph-capital tag-enterpriseam-uae tag-ma-watch tag-sanipex-group wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.a173ddcd-e0b3-4c66-b32e-fdaa42e13a89.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Private equity firm Aliph Capital acquired a 25% stake in <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.google.com\/aclk?sa=l&ai=DChcSEwjNwc2ZhZKKAxU4poMHHUboDVIYABAAGgJlZg&ae=2&aspm=1&co=1&ase=2&gclid=Cj0KCQiAu8W6BhC-ARIsACEQoDAXp_fU3jytfvcUqA-9yBnjf_EkLQio1pelDVj_Wq5Y8arYKgjSa2IaAoQPEALw_wcB&sig=AOD64_0VyRDmbUBhqI-2htcVBU_Qz_qr6A&q&nis=4&adurl&ved=2ahUKEwi2rsiZhZKKAxXSA9sEHYk7NM0Q0Qx6BAgPEAE\" style=\"\" rel=\"noopener\">Sanipex Gro<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.google.com\/aclk?sa=l&ai=DChcSEwjNwc2ZhZKKAxU4poMHHUboDVIYABAAGgJlZg&ae=2&aspm=1&co=1&ase=2&gclid=Cj0KCQiAu8W6BhC-ARIsACEQoDAXp_fU3jytfvcUqA-9yBnjf_EkLQio1pelDVj_Wq5Y8arYKgjSa2IaAoQPEALw_wcB&sig=AOD64_0VyRDmbUBhqI-2htcVBU_Qz_qr6A&q&nis=4&adurl&ved=2ahUKEwi2rsiZhZKKAxXSA9sEHYk7NM0Q0Qx6BAgPEAE\" style=\"\" rel=\"noopener\">up<\/a><\/strong>, a lifestyle product supplier, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/578.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The investment \u2014 the size of which has not been disclosed \u2014 marks Aliph\u2019s expansion into the lifestyle sector and follows its previous foray into the UAE's pet retail market with the acquisition of <a target=\"_blank\" href=\"https:\/\/www.aliph.capital\/portfolio\/the-petshop\" style=\"\" rel=\"noopener\">The Pet Shop<\/a>. Aliph\u2019s CEO, Huda Al Lawati, and Managing Director, Gaurav Wadhwa, will take a seat on Sanipex\u2019s board. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Aliph Fund I, Aliph Capital\u2019s first and only fund with a USD 250 mn target, secured an undisclosed investment from Saudi SME Bank\u2019s VC arm, Saudi Venture Capital <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/74152cf3-6207-40c4-92de-1d659079ee55\/enersol-finalizes-its-usd-45-mn-acquisition-of-ev-holdings-%2B-aldar-acquires-aed-2.3-bn-difc-tower\" style=\"\" rel=\"noopener\">earlier this week<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>PwC Middle East served as the exclusive corporate finance M&A advisor to Sanipex Group for this transaction. Legal advisory support was provided by Clyde & Co for Sanipex Group and by Latham & Watkins for Aliph Capital.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Aliph Capital:<\/strong> Founded in 2021, <a target=\"_blank\" href=\"https:\/\/www.aliph.capital\/\" style=\"\" rel=\"noopener\">Aliph Capital<\/a> specializes in mid-market and high-growth businesses in the GCC. The firm provides growth capital with an active ownership model that emphasizes sustainability and facilitates the transition to tech-enabled operations. <strong>We featured Al Luwati in <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/3f2a9faf-79ef-4a01-8387-1e5ce4bdf5e7\/my-morning-routine:-huda-al%253cmark%253e-lawati%253c%2Fmark%253e,-founder-and-ceo-of-aliph-capital\" style=\"\" rel=\"noopener\">My Morning Routine<\/a><\/strong><strong> earlier this year<\/strong>, where she touched on the strategy of the firm and its future plans. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Sanipex Group:<\/strong> Established in 1995 in Dubai, <a target=\"_blank\" href=\"https:\/\/sanipexgroup.com\/c\/about-us\/\" style=\"\" rel=\"noopener\">Sanipex Group<\/a> offers a range of lifestyle products, including bathroom, kitchen, surface, lighting, and outdoor solutions. The company is known for its flagship brand, Bagnodesign, and has showrooms in Dubai, Abu Dhabi, and London, and a distribution network spanning over 30 countries. Sanipex also plans to expand into new product categories, including kitchen appliances and outdoor furniture, and is set to open additional showrooms in the UAE and Qatar, along with a new Design Center in Dubai\u2019s Jumeirah Beach Road in 2025.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/acquisition\/\">acquisition<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/aliph-capital\/\">Aliph Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/sanipex-group\/\">Sanipex Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"98547\" 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=\"98547\">\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\">ENERGY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/adnoc-secures-another-15-year-lng-supply-agreement-for-al-ruwais-2\/\">\r\n                            Adnoc secures another 15-year LNG supply agreement for Al Ruwais                        <\/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\/12\/06\/adnoc-secures-another-15-year-lng-supply-agreement-for-al-ruwais-2\/\" 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\/12\/06\/adnoc-secures-another-15-year-lng-supply-agreement-for-al-ruwais-2\/')\">\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\/12\/06\/adnoc-secures-another-15-year-lng-supply-agreement-for-al-ruwais-2\/\">\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=Adnoc secures another 15-year LNG supply agreement for Al Ruwais&url=https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/adnoc-secures-another-15-year-lng-supply-agreement-for-al-ruwais-2\/\">\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\/12\/06\/adnoc-secures-another-15-year-lng-supply-agreement-for-al-ruwais-2\/&title=Adnoc secures another 15-year LNG supply agreement for Al Ruwais\">\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=Adnoc+secures+another+15-year+LNG+supply+agreement+for+Al+Ruwais+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F12%2F06%2Fadnoc-secures-another-15-year-lng-supply-agreement-for-al-ruwais-2%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\/12\/06\/adnoc-secures-another-15-year-lng-supply-agreement-for-al-ruwais-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/585.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"98548\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/adnoc-secures-another-15-year-lng-supply-agreement-for-al-ruwais-2\/585-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/585.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"585.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/585.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/585.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98547\" class=\"content-area-description single-story post-98547 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-adnoc tag-energy tag-enterpriseam-uae tag-lng 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\/12\/.42d08052-fa15-466a-ae3d-79a3c046a456.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Adnoc finalizes second long-term LNG agreement with Malay<\/strong><strong>sia\u2019s Petronas: <\/strong>Adnoc signed a 15-year sales and purchase agreement (SPA) with Malaysia\u2019s state-owned oil and gas firm Petronas to supply it with 1 mn tonnes of liquefied natural gas (LNG) annually from its LNG project in Al Ruwais, according to a <a target=\"_blank\" href=\"https:\/\/www.adnoc.ae\/en\/news-and-media\/press-releases\/2024\/adnoc-signs-15\" style=\"\" rel=\"noopener\">statement<\/a>. Deliveries are set to begin in 2028.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The agreement will help Malaysia ramp up its LNG portfolio: <\/strong>The agreement with Adnoc \u201cbolsters [Petronas\u2019] LNG portfolio with a reliable supply of lower-carbon energy to meet Malaysia\u2019s domestic demand,\u201d Petronas LNG Marketing & Trading VP Shamsairi Ibrahim said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>To date, over 8 mn tonnes per annum (mtpa) of the Al Ruwais LNG project\u2019s 9.6 mtpa production capacity has been committed through long-term agreements. These include a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/48e6b2d3-4cbc-4656-a4bf-135878765665\/adipec-day-three:-more-agreements-from-adnoc\" style=\"\" rel=\"noopener\">15-year SPA<\/a> with Singapore\u2019s Sefe Marketing & Trading for 1 mn tonnes, a <a target=\"_blank\" href=\"https:\/\/www.adnoc.ae\/en\/news-and-media\/press-releases\/2023\/adnoc-signs-first-long-term-lng-heads-of-agreement-from-ruwais-low-carbon-lng-project\" style=\"\" rel=\"noopener\">15-year agreement<\/a> with China\u2019s ENN Natural Gas for 1 mn tonnes, and another <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/777e4aea-5903-4594-8f55-bed39b972299\/adnoc-secures-another-15-year-lng-supply-agreement-for-al-ruwais\" style=\"\" rel=\"noopener\">15-year agreement<\/a> with Germany\u2019s Energie Baden-W\u00fcrttemberg for 0.6 mn tonnes. Additional <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/c316bbef-20db-4ce6-aa08-64f3fd6f45fd\/adnoc-sells-40%2525-of%253cmark%253e-ruwais%253c%2Fmark%253e-lng-project-%2B-secures-supply-agreements\" style=\"\" rel=\"noopener\">supply agreements<\/a> include 1 mn tonnes per year to Shell and 0.6 mn tonnes to Mitsui.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adnoc\/\">Adnoc<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/lng\/\">LNG<\/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=\"98549\" 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=\"98549\">\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\">REGULATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/fsra-issues-stablecoin-framework\/\">\r\n                            FSRA issues stablecoin framework                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/fsra-issues-stablecoin-framework\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/fsra-issues-stablecoin-framework\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/fsra-issues-stablecoin-framework\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=FSRA issues stablecoin framework&url=https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/fsra-issues-stablecoin-framework\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/fsra-issues-stablecoin-framework\/&title=FSRA issues stablecoin framework\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=FSRA+issues+stablecoin+framework+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F12%2F06%2Ffsra-issues-stablecoin-framework%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/fsra-issues-stablecoin-framework\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/449.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"98550\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/fsra-issues-stablecoin-framework\/449-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/449.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"449.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/449.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/449.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98549\" class=\"content-area-description single-story post-98549 post type-post status-publish format-standard has-post-thumbnail hentry category-regulation-watch tag-adgm tag-crypto tag-enterpriseam-uae tag-financial-services-regulatory-authority tag-regulation-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.13ec50ce-5152-4af8-8d48-a4d51c773c19.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Financial Services Regulatory Authority (FSRA) issued a regulatory <\/strong><strong>framework for the issuance of fiat-referenced tokens (FRTs) in ADGM<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/611.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The new <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/614.pdf\" style=\"\" rel=\"noopener\">regulations (pdf)<\/a> set out a definition for FRTs, allowing its issuance and its use as a method of payment within ADGM.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Uh, Enterprise, what are FRTs?<\/strong> FRTs are a type of stablecoin whose value is pegged to a traditional fiat currency.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The regulations set out requirements for their issuance<\/strong>, including clarifying constituents of reserve assets, requiring periodic attestation and stress testing, and requirements for disclosures and whitepapers on risks and holder rights. The new rules also clarify capital adequacy requirements and restrictions, and ensure holders can redeem tokens at par value within specific timeframes by setting redemption rights.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> The FSRA issued a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/e43dc2da-d263-4e1c-ba7e-51ff13ceba23\/adgm-publishes-draft-regulations-for-stablecoins-%2B-uae-mulling-the-acquisition-of-hsbc%25e2%2580%2599s-south-african-unit%3F\" style=\"\" rel=\"noopener\">consultation paper<\/a> in August, proposing new rules to allow the issuance of fiat-referenced tokens. The Dubai Financial Services Authority also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/4ae97f82-12f4-491b-92b1-a25654989fa6\/good-news-for-stablecoin-investors\" style=\"\" rel=\"noopener\">eased<\/a> regulations around unrecognized crypto tokens and stablecoins, while the Central Bank of the UAE\u2019s board greenlit the introduction of a licensing and regulatory system for stable cryptocurrencies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PLUS- We have an AED-pegged stablecoin on the way:<\/strong> The Central Bank of the UAE (CBUAE) <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f737df16-f75e-4e8a-ae5f-4fa069d5cccb\/aed-pegged-stablecoin-is-one-step-closer-to-becoming-real\" style=\"\" rel=\"noopener\">gave in-principle approval<\/a> to AED Stablecoin\u2019s AE Coin in October, putting it on track to become the country\u2019s first regulated stablecoin if it earns final approval. ADX-listed crypto miner Phoenix Group and cryptocurrency giant Tether also plan to launch an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/7bbea612-b8eb-4e78-87db-532f614427af\/phoenix-group-and-tether-to-launch-aed-pegged%253cmark%253e-stablecoin%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">AED-pegged stablecoin<\/a> fully backed by liquid UAE-based reserves and accessible globally, pending regulatory review and approval.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adgm\/\">ADGM<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/crypto\/\">CRYPTO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/financial-services-regulatory-authority\/\">Financial Services Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/regulation-watch\/\">REGULATION WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"98551\" 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=\"98551\">\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\">TRADE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/abu-dhabis-non-oil-trade-surplus-widens-to-aed-7-8-bn-in-3q-2024\/\">\r\n                            Abu Dhabi\u2019s non-oil trade surplus widens to AED 7.8 bn in 3Q 2024                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/abu-dhabis-non-oil-trade-surplus-widens-to-aed-7-8-bn-in-3q-2024\/\" 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\/12\/06\/abu-dhabis-non-oil-trade-surplus-widens-to-aed-7-8-bn-in-3q-2024\/')\">\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\/12\/06\/abu-dhabis-non-oil-trade-surplus-widens-to-aed-7-8-bn-in-3q-2024\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Abu Dhabi\u2019s non-oil trade surplus widens to AED 7.8 bn in 3Q 2024&url=https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/abu-dhabis-non-oil-trade-surplus-widens-to-aed-7-8-bn-in-3q-2024\/\">\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\/12\/06\/abu-dhabis-non-oil-trade-surplus-widens-to-aed-7-8-bn-in-3q-2024\/&title=Abu Dhabi\u2019s non-oil trade surplus widens to AED 7.8 bn in 3Q 2024\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Abu+Dhabi%E2%80%99s+non-oil+trade+surplus+widens+to+AED+7.8+bn+in+3Q+2024+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F12%2F06%2Fabu-dhabis-non-oil-trade-surplus-widens-to-aed-7-8-bn-in-3q-2024%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\/12\/06\/abu-dhabis-non-oil-trade-surplus-widens-to-aed-7-8-bn-in-3q-2024\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/345.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"98552\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/abu-dhabis-non-oil-trade-surplus-widens-to-aed-7-8-bn-in-3q-2024\/345-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/345.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"345.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/345.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/345.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98551\" class=\"content-area-description single-story post-98551 post type-post status-publish format-standard has-post-thumbnail hentry category-trade tag-abu-dhabi tag-economy tag-enterpriseam-uae tag-trade wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.a6010063-5ca3-4676-8535-31c203830476.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Abu Dhabi\u2019s non-oil foreign trade hit <\/strong><strong>AED 77.8 bn<\/strong><strong> in 3Q 2024, marking a <\/strong><strong>1<\/strong><strong>2.9% <\/strong><strong>y-o-y increase<\/strong>, according to import and export data (<a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/558.pdf\" style=\"\" rel=\"noopener\">here, pdf<\/a>, and <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/557.pdf\" style=\"\" rel=\"noopener\">here, pdf<\/a>) from Abu Dhabi\u2019s statistics center. Imports fell 3% y-o-y to AED 35 bn, while exports and re-exports increased 30.2% y-o-y to AED 42.8 bn, widening its trade surplus to AED 7.8 bn, according to the data. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a nine-month basis, trade increased 4.6% y-o-y to AED 223.2 bn<\/strong>. Imports rose 1.9% y-o-y to AED 105.7 bn, while exports increased 7.2% y-o-y to AED 117.5 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- The UAE\u2019s foreign trade <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/87b83896-75d5-4520-8813-92b851508b87\/foreign-trade-hit-an-all-time-high-of-aed-1.395-tn-in-1h\" style=\"\" rel=\"noopener\">increased by 11.2% y-o-y<\/a><\/strong><strong> in 1H 2024<\/strong>, reaching an all time high of AED 1.395 tn. Non-oil exports rose 25% y-o-y in 1H 2024 to AED 256.4 bn, with the target for non-oil foreign trade for the year set at AED 3 tn. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi\/\">Abu Dhabi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/economy\/\">Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"98553\" 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=\"98553\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/chapman-freeborn-appoints-linas-dovydenas-as-president-for-imea-region\/\">\r\n                            Chapman Freeborn appoints Linas Dovydenas as president for IMEA region                        <\/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\/12\/06\/chapman-freeborn-appoints-linas-dovydenas-as-president-for-imea-region\/\" 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\/12\/06\/chapman-freeborn-appoints-linas-dovydenas-as-president-for-imea-region\/')\">\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\/12\/06\/chapman-freeborn-appoints-linas-dovydenas-as-president-for-imea-region\/\">\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=Chapman Freeborn appoints Linas Dovydenas as president for IMEA region&url=https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/chapman-freeborn-appoints-linas-dovydenas-as-president-for-imea-region\/\">\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\/12\/06\/chapman-freeborn-appoints-linas-dovydenas-as-president-for-imea-region\/&title=Chapman Freeborn appoints Linas Dovydenas as president for IMEA region\">\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=Chapman+Freeborn+appoints+Linas+Dovydenas+as+president+for+IMEA+region+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F12%2F06%2Fchapman-freeborn-appoints-linas-dovydenas-as-president-for-imea-region%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\/12\/06\/chapman-freeborn-appoints-linas-dovydenas-as-president-for-imea-region\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1285.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"98554\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/chapman-freeborn-appoints-linas-dovydenas-as-president-for-imea-region\/1285-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1285.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1285.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1285.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1285.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98553\" class=\"content-area-description single-story post-98553 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-aviation tag-enterpriseam-uae tag-moves tag-sharjah-national-oil-corporation 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\/12\/.c4e1c4c1-f166-4530-9649-01ae0602e07d.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Air cargo carrier <strong><a target=\"_blank\" href=\"https:\/\/chapmanfreeborn.aero\/\" style=\"\" rel=\"noopener\">Chapman Freeborn<\/a><\/strong> appointed <strong>Linas Dovydenas <\/strong>(<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/linas-dovydenas-ba340726\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as <strong>President for the India, Middle East & Africa (IMEA) region<\/strong>, as part of its broader regional expansion strategy, effective immediately, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/people-in-the-news\/chapman-freeborn-appoints-new-president-for-imea-region-bsnrbevh\" style=\"\" rel=\"noopener\">press release<\/a>. Dovydenas joined Chapman Freeborn in 2023 as Executive VP for ACMI Leasing. He has 16 years of experience at the carrier's parent company, Avia Solutions Group, where he held CEO and CCO roles.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Sheikh Sultan bin Ahmed bin Sultan Al Qasimi (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/sheikhsultanalqasimi\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">Link<\/a><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/sheikhsultanalqasimi\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">edIn<\/a>) appointed <strong>Khamis Al <\/strong><strong>Mazrouei<\/strong> as the <strong>Deputy CEO <\/strong>of <strong>Sharjah National Oil Corporation<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/1495429-sultan-bin-ahmed-appoints-khamis-mazrouei-snoc\" style=\"\" rel=\"noopener\">Wam<\/a> reports.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/aviation\/\">Aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/sharjah-national-oil-corporation\/\">Sharjah National Oil Corporation<\/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=\"98555\" 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=\"98555\">\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\/12\/06\/more-hedge-funds-set-up-shop-in-the-uae\/\">\r\n                            More hedge funds set up shop in the UAE                        <\/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\/12\/06\/more-hedge-funds-set-up-shop-in-the-uae\/\" 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\/12\/06\/more-hedge-funds-set-up-shop-in-the-uae\/')\">\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\/12\/06\/more-hedge-funds-set-up-shop-in-the-uae\/\">\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=More hedge funds set up shop in the UAE&url=https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/more-hedge-funds-set-up-shop-in-the-uae\/\">\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\/12\/06\/more-hedge-funds-set-up-shop-in-the-uae\/&title=More hedge funds set up shop in the UAE\">\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=More+hedge+funds+set+up+shop+in+the+UAE+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F12%2F06%2Fmore-hedge-funds-set-up-shop-in-the-uae%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\/12\/06\/more-hedge-funds-set-up-shop-in-the-uae\/\">\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=\"98556\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/more-hedge-funds-set-up-shop-in-the-uae\/2042-jpg-7\/\" 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-98555\" class=\"content-area-description single-story post-98555 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-abu-dhabi-investment-office tag-adnoc tag-also-on-our-radar tag-banking tag-business tag-debt tag-e tag-edge-group tag-enterpriseam-uae tag-finance tag-salik 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\/12\/.22f1c7e5-382f-4e0e-b6c2-6f3683ec71b5.mp3\"><\/audio><\/figure><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>#1- Singapore-based hedge fund Dymon Asia Capital is the latest to open up its first Middle Ea<\/strong><strong>st office in Dubai<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/finance\/hedge-fund-dymon-asia-opens-first-middle-east-office-dubai-2024-12-05\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing a statement. The multi-strategy USD 3 tn hedge fund opened the office in November with two portfolio managers after receiving a category 3C license from the Dubai Financial Services Authority (DFSA), with plans to hire three more by January. The hedge fund\u2019s deputy CEO Kenneth Kan cited Dubai\u2019s favorable timezone and its attractiveness to investment professionals as the main drivers behind setting up the new office. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>US private equity firm <\/strong><strong><a target=\"_blank\" href=\"https:\/\/lonestarfunds.com\/\" style=\"\" rel=\"noopener\">Lone Star Funds<\/a><\/strong> <strong> expanded into the UAE with an Abu Dhabi <\/strong><strong>office<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-05\/lone-star-joins-firms-opening-up-in-abu-dhabi-s-finance-hub\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. The company received in-principle approval to establish an office in the emirate\u2019s financial center and plans to use the new office as a base to expand the presence of its portfolio companies in the Mena region, with investments taking place across equity, real estate, credit, and other assets.<\/p>\n<p class=\"tag-border-left\"> DEBT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai toll operator Salik has received an A- issuer default rating from Fitch Ratings and <\/strong><strong>an A3 rating from Moody\u2019s<\/strong>, both with a stable outlook, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/559.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf).<\/a> The investment-grade ratings come on the back of Salik\u2019s ties to Dubai\u2019s economy and the emirate\u2019s consistent traffic and population growth, its concession agreement ensuring long-term cashflow generation, and minimal need for capex spending, the disclosure said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company does not have immediate plans to issue deb<\/strong>t, CEO Ibrahim Sultan Al Haddad said, adding that the public ratings offer the company \u201cgreater future flexibility in the financial markets.\u201d <\/p>\n<p class=\"tag-border-left\">DEVELOPMENT FINANCE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emirates Development Bank (EDB) allocated AED 1.1 bn to the food security <\/strong><strong>sector<\/strong>, accounting for 8% of its total cumulative financing of AED 14.7 bn since the launch of its strategy to support the sector in April 2021, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b6jf4ka-edb-reveals-aed112-billion-financing-cultivate\" 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>EDB also signed an MoU last<\/strong><strong> week <\/strong><strong>with Watermelon Ecosystem<\/strong>, a platform designed to integrate suppliers and stakeholders in the food and beverage industry. <\/p>\n<p class=\"tag-border-left\"> BUSINESS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Abu Dhabi Investment Office and Abu Dhabi Chamber of Commerce and Industry <\/strong><strong>partnered to increase investment and economic growth in the emirate<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b6jf4q2-adio-abu-dhabi-chamber-partner-enhance-emirate%E2%80%99s\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The partnership will create a framework to connect family offices to ADIO's network, improve investor access to market insights, and connect local and global stakeholders. The entities will also create a strategy to amplify their impact through shared data, strategic outreach, joint initiatives, and economic diversification.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- We have more info on KFED\u2019s new strategy for SMEs: <\/strong>The Khalifa Fund for Enterprise Development (KEFD) launched the MZN Hub, an AI-driven ecosystem to provide entrepreneurs with customized resources and programs, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b6jf4q4-khalifa-fund-unveils-new-strategy-launches-mzn\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The hub looks to support SMEs and startups with diversified funding sources, including both financial and non-financial offerings.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The hub grants startups access to MZN Venture Studios in Al Ain, Abu Dhabi, and Al Dhafra<\/strong>, which provide support in technology transfer, R&D commercialization, matchmaking, and training, and feature manufacturing facilities, including maker spaces, testing fields, and raw material zones. Startups will also gain access to a sector-specific accelerator program, with MZN Venture Capital providing critical early-stage financing to address funding gaps.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/2b87fdc8-f675-41d9-9787-ccd45efa216d\/abu-dhabi-to-get-centralized-business-registry-%2B-family-business-council\" style=\"\" rel=\"noopener\">Earlier this week<\/a>, KEFD said it had a new strategy in the works to support SMEs with growth measures and ecosystems.<\/p>\n<p class=\"tag-border-left\"> BANKING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Haifin, an e& enterprise company, signed an MoU with Vodacom Business, to <\/strong><strong>support the digital transformation of South Africa\u2019s banking ecosystem<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/haifin-an-e-and-enterprise-company-and-vodacom-business-forge-strategic-partnership-k7e5t78c\" style=\"\" rel=\"noopener\">press release<\/a>. The partnership aims to enhance the lending capacity of banks in South Africa with goals of increasing revenues and improving access to liquidity for SMEs and corporate borrowers.<\/p>\n<p class=\"tag-border-left\"> DEFENSE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Edge Group will provide Censipam with a new communications system:<\/strong> The UAE\u2019s defense conglomerate Edge Group partnered with the Brazilian Defence Ministry\u2019s Management and Operational Centre of the Amazon Protection System (Cenispam) to provide it with a securitized communications system, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b6jf54h-edge-provide-advanced-secure-communications-system\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The system will be developed in collaboration with the Brazilian weapons and systems developer Siatt, which is 50% owned by Edge.<\/p>\n<p class=\"tag-border-left\"> MANUFACTURING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Adnoc partners with government entities to support local manufacturing:<\/strong> Adnoc inked a strategic collaboration agreement with the Industry and Advanced Technology Ministry, Abu Dhabi Department of Economic Development, Abu Dhabi Investment Office, and Abu Dhabi Chamber of Commerce and Industry to boost local manufacturing and industrial growth, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b6jf54j-adnoc-partners-with-local-federal-entities-boost\" style=\"\" rel=\"noopener\">Wam<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The agreement aims to explore opportunities to support local manufacturers and empower SMEs<\/strong>, with plans to integrate SMEs into Adnoc\u2019s supply chain. <\/p>\n<p class=\"tag-border-left\"> TRADE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADDED kicks off TIP for imports and exports: <\/strong>Abu Dhabi Department of Economic Development launched the Abu Dhabi Trade Information Portal (TIP) to streamline import, export, and re-export procedures, in collaboration with Abu Dhabi Customs and Maqta Gateway, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b6jf5am-abu-dhabi-department-economic-development-launches\" style=\"\" rel=\"noopener\">Wam<\/a> reports. TIP provides details on regulations, fees, taxes, and procedures across all trade stages, including permits, licenses, and certifications. The details on transactions are provided using harmonized system codes, considering product specifics and transit methods.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TIP\u2019s main features:<\/strong> The new portal offers templates for essential trade documents like bills of lading and certificates of origin. It also evaluates timelines and costs, potentially reducing customs compliance time by 50% and cutting operational costs by USD 100-1k per transaction, according to the organisation for economic co-operation and development. It also integrates the Abu Dhabi Export Gateway to help local businesses identify international markets.<\/p>\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>Etihad Airways established a bilateral codeshare agreement with Kazakhstan\u2019s <\/strong><strong>flag carrier Air Astana to expand connectivity for both airlines\u2019 customers<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.etihad.com\/en-ae\/news\/etihad-welcomes-new-codeshare-with-air-astana-opening-up-exciting-new-destinations\" style=\"\" rel=\"noopener\">press release<\/a>. The partnership grants Etihad\u2019s passengers access to 10 new destinations in Kazakhstan and neighboring countries through Air Astana\u2019s network, including Almaty, Astana, Bishkek, and Tashkent. Meanwhile, Air Astana passengers gain access to Etihad's routes to India, Bahrain, and Oman via Abu Dhabi. <\/p>\n<p class=\"tag-border-left\"> ENERGY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Adnoc Group\u2019s AI joint venture <\/strong><strong>AIQ partnered with Adnoc, Baker Hughes, and Corva to launch the AI rate of penetration (RoP) optimization initiative<\/strong> to improve drilling performance across Adnoc\u2019s fields, according to a <a target=\"_blank\" href=\"https:\/\/aiqintelligence.ae\/newsroom\/news-and-press-releases\/AIQ-ADNOC-Baker-Hughes-and-CORVA-Announce-AI-ROP-Optimization-Project-to-Transform-Drilling-Efficiency-Across-ADNOC-fields\" style=\"\" rel=\"noopener\">press release<\/a>. The initiative uses AI-driven solutions to provide recommendations for optimizing drilling parameters, such as weight on bit and rotations per minute, reducing time-to-depth while improving performance.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi-investment-office\/\">Abu Dhabi Investment Office<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adnoc\/\">Adnoc<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/business\/\">business<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/e\/\">e&amp;<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/edge-group\/\">Edge Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/finance\/\">Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/salik\/\">Salik<\/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=\"98557\" 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=\"98557\">\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\/12\/06\/what-btcs-breach-of-the-usd-100k-mark-means-for-the-industry\/\">\r\n                            What BTC\u2019s breach of the USD 100k mark means for the industry                        <\/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\/12\/06\/what-btcs-breach-of-the-usd-100k-mark-means-for-the-industry\/\" 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\/12\/06\/what-btcs-breach-of-the-usd-100k-mark-means-for-the-industry\/')\">\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\/12\/06\/what-btcs-breach-of-the-usd-100k-mark-means-for-the-industry\/\">\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=What BTC\u2019s breach of the USD 100k mark means for the industry&url=https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/what-btcs-breach-of-the-usd-100k-mark-means-for-the-industry\/\">\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\/12\/06\/what-btcs-breach-of-the-usd-100k-mark-means-for-the-industry\/&title=What BTC\u2019s breach of the USD 100k mark means for the industry\">\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=What+BTC%E2%80%99s+breach+of+the+USD+100k+mark+means+for+the+industry+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F12%2F06%2Fwhat-btcs-breach-of-the-usd-100k-mark-means-for-the-industry%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\/12\/06\/what-btcs-breach-of-the-usd-100k-mark-means-for-the-industry\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1292.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"98558\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/what-btcs-breach-of-the-usd-100k-mark-means-for-the-industry\/1292-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1292.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1292.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1292.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1292.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98557\" class=\"content-area-description single-story post-98557 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-bitcoin tag-crypto tag-donald-trump tag-enterpriseam-uae tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.bac322c7-2cba-4f3f-86f2-f3b660aa90af.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> One day after Bitcoin broke the USD 100k mark, speculation over where the digital <\/strong><strong>asset is heading next runs rampant. <\/strong>The cryptocurrency reached an all time high of USD 103.7k on Wednesday, though it has since fallen below the USD 100k mark. It has more than doubled in value this year, with a more than 50% increase in value over the past four weeks since US president-elect Donald Trump\u2019s victory, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/newsletters\/2024-12-05\/crypto-leads-a-buying-frenzy-for-all-kinds-of-risk?embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. The total value of the crypto market has doubled to a record of over USD 3.8 tn, with BTC alone hitting a value of just shy of USD 2 tn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Trump\u2019s pro-crypto agenda supercharged digital assets:<\/strong> The US president previously stated that he intends to make the US the \u201ccrypto capital of the planet\u201d and to gather a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/f391423f-9930-48cf-be43-1633cca54627\/investors-watch-equities,-bonds,-and%253cmark%253e-crypto%253c%2Fmark%253e-as-us-election-unfolds\" style=\"\" rel=\"noopener\">national stockpile<\/a> of bitcoin. He also nominated pro-crypto businessman Paul Atkins to serve as the chair of the US Securities and Exchange Commission. The president-elect also recently launched a new decentralized finance venture \u2014 <a target=\"_blank\" href=\"https:\/\/www.google.com\/url?q=https:\/\/www.worldlibertyfinancial.com\/&sa=D&source=docs&ust=1733446616684983&usg=AOvVaw1W--5_ugi_mY6bVGOOLqhy\" style=\"\" rel=\"noopener\">World Liberty Financial<\/a> \u2014 for cryptocurrency trading.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Could the USD 100k milestone signal a new era for BTC? <\/strong>\u201cBitcoin and the entire digital asset ecosystem are on the brink of entering the financial mainstream \u2014 this momentum is fuelled by institutional adoption, advancements in tokenisation and payments, and a clearer regulatory path,\u201d Mike Novogratz, founder and CEO of US crypto firm Galaxy Digital, told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/bitcoin-tops-100000-optimism-over-trump-crypto-plans-2024-12-05\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. Other experts expect the momentum to continue. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Digital asset funds are taking over:<\/strong> Sovereign wealth funds, pension funds, and family offices have <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/7c835069-8f93-4734-a859-4707c1885cc6\/sovereign-wealth-funds-are-eyeing%253cmark%253e-bitcoin%253c%2Fmark%253e-etfs\" style=\"\" rel=\"noopener\">expressed<\/a> plenty of interest in 2024 in bitcoin exchange traded funds (ETFs), as they generated over USD 76 bn in investments since their launch. \"Roughly 3% of the total supply of bitcoins that will ever exist have been purchased in 2024 by institutional money,\u201d global head of digital assets research at Standard Chartered Geoff Kendrick said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Still, it is not all rosy in crypto\u2019s future:<\/strong> Despite the recent rally, plenty of investors still believe that cryptocurrencies are too volatile and unpredictable to be a mainstream asset class, with long term price behaviour depending on larger market conditions. Cryptocurrencies have also been previously criticized for consuming large amounts of energy and their active use in crime around the world.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asian markets are mixed this morning<\/strong>, capping off a volatile week amid political turmoil in South Korea. The Kospi is still down, alongside the Kosdaq and Japan\u2019s Nikkei. On the upside, Hong Kong\u2019s Hang Seng is trading up along with China\u2019s CSI 300. Meanwhile, Wall Street futures are unchanged as US investors await the jobs report today. <\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table markets-table'>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,277<\/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: -3.1%)<\/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>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\">4,820<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7% (YTD: +18.7%)<\/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>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\">3,904<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +1.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : AED<\/strong><strong> CBUAE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 3.67<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 3.67<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EIBOR<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">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\">11,932<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4% (YTD: -0.3%)<\/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>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\">30,840<\/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: +24.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">6,075<\/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: 27.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,349<\/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: +8.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,952<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: +9.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 71.86<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.09<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.4%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 2,642.0<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 97,726.45<\/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\">-3.5% (YTD: +131%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ADX rose 0.1% yesterday<\/strong> on turnover of AED 1.1 bn. The index is down 3.1% 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>Abu Dhabi National Co. for Building Materials (+9.3%), Al Khaleej Investment (+7.3%) and Julphar (+6.4%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Ooredoo (-8.2%), National Bank of Umm Al Qaiwain (-6.5%) and Gulf Medical Projects Company (-5.8%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over on the DFM<\/strong>, the index closed down 0.7% on turnover of AED 653.1 mn. Meanwhile, Nasdaq Dubai also rose 0.1%.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/bitcoin\/\">Bitcoin<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/crypto\/\">CRYPTO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/donald-trump\/\">Donald Trump<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"98559\" 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=\"98559\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/packed-diplo-week-talks-with-senegal-mongolia-and-the-us\/\">\r\n                            Packed diplo week: Talks with Senegal, Mongolia, and the US                        <\/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\/12\/06\/packed-diplo-week-talks-with-senegal-mongolia-and-the-us\/\" 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\/12\/06\/packed-diplo-week-talks-with-senegal-mongolia-and-the-us\/')\">\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\/12\/06\/packed-diplo-week-talks-with-senegal-mongolia-and-the-us\/\">\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=Packed diplo week: Talks with Senegal, Mongolia, and the US&url=https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/packed-diplo-week-talks-with-senegal-mongolia-and-the-us\/\">\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\/12\/06\/packed-diplo-week-talks-with-senegal-mongolia-and-the-us\/&title=Packed diplo week: Talks with Senegal, Mongolia, and the US\">\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=Packed+diplo+week%3A+Talks+with+Senegal%2C+Mongolia%2C+and+the+US+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F12%2F06%2Fpacked-diplo-week-talks-with-senegal-mongolia-and-the-us%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\/12\/06\/packed-diplo-week-talks-with-senegal-mongolia-and-the-us\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/612.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"98560\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/packed-diplo-week-talks-with-senegal-mongolia-and-the-us\/612-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/612.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"612.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/612.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/612.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98559\" class=\"content-area-description single-story post-98559 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-diplomacy tag-enterpriseam-uae tag-uae-mongolia-relations tag-uae-senegal-relations tag-uae-us-relations 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\/12\/.8bc94b79-b7d9-42e6-b67f-dcbf1d9a6da6.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>President Sheikh Mohamed bin Zayed Al Nahyan met with Senegalese President <\/strong><strong>Bassirou Diomaye Faye during his visit to the UAE<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b6jf57j-uae-senegalese-presidents-explore-ways-deepen\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The leaders discussed strengthening UAE-Senegal relations, focusing on investment, trade, economy, and development, while also addressing regional and international issues of mutual interest.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sheikh Mohamed also met with the Mongolian Prime Minister Luvsannamsrai <\/strong><strong>Oyun-Erdene in Abu Dhabi<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b6jf5ar-uae-president-mongolian-prime-minister-explore\" style=\"\" rel=\"noopener\">Wam<\/a> reports. They discussed strengthening ties in trade, economy, renewable energy, infrastructure, climate action, and tourism.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sheikha Fatima bint Mubarak met with US First Lady Jill Biden during her visit to <\/strong><strong>the UAE<\/strong> to discuss enhancing relations between the two countries, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b6jf4yn-sheikha-fatima-receives-us-first-lady-jill-biden\" style=\"\" rel=\"noopener\">Wam<\/a> reports. Their discussions also addressed deepening collaboration between women\u2019s organizations in the two nations and empowering women while promoting family stability.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/uae-mongolia-relations\/\">UAE-Mongolia relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/uae-senegal-relations\/\">UAE-Senegal relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/uae-us-relations\/\">UAE-US relations<\/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=\"98561\" 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=\"98561\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">MY MORNING ROUTINE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/my-morning-routine-firdosh-sheikh-founder-and-ceo-of-drife\/\">\r\n                            My Morning Routine: Firdosh Sheikh, founder and CEO of Drife                        <\/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\/12\/06\/my-morning-routine-firdosh-sheikh-founder-and-ceo-of-drife\/\" 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\/12\/06\/my-morning-routine-firdosh-sheikh-founder-and-ceo-of-drife\/')\">\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\/12\/06\/my-morning-routine-firdosh-sheikh-founder-and-ceo-of-drife\/\">\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=My Morning Routine: Firdosh Sheikh, founder and CEO of Drife&url=https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/my-morning-routine-firdosh-sheikh-founder-and-ceo-of-drife\/\">\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\/12\/06\/my-morning-routine-firdosh-sheikh-founder-and-ceo-of-drife\/&title=My Morning Routine: Firdosh Sheikh, founder and CEO of Drife\">\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=My+Morning+Routine%3A+Firdosh+Sheikh%2C+founder+and+CEO+of+Drife+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F12%2F06%2Fmy-morning-routine-firdosh-sheikh-founder-and-ceo-of-drife%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\/12\/06\/my-morning-routine-firdosh-sheikh-founder-and-ceo-of-drife\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/581.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"98562\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/my-morning-routine-firdosh-sheikh-founder-and-ceo-of-drife\/581-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/581.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"581.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/581.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/581.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98561\" class=\"content-area-description single-story post-98561 post type-post status-publish format-standard has-post-thumbnail hentry category-my-morning-routine tag-blockchain tag-drife tag-enterpriseam-uae tag-mobility tag-my-morning-routine tag-transport 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\/12\/.38f67711-df89-4c07-981b-a2d77ce6ff1a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Firdosh Sheikh, founder and CEO of Drife: <\/strong>Each week, My Morning Routine looks at how a successful member of the community starts their day \u2014 and then throws in a couple of random business questions just for fun. Speaking to us this week is Firdosh Sheikh (<a target=\"_blank\" href=\"https:\/\/ae.linkedin.com\/in\/firdosh-sheikh\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), founder and CEO of Drife, a decentralized mobility platform that uses blockchain technology to connect drivers with riders at market-determined prices, according to <a target=\"_blank\" href=\"https:\/\/www.drife.io\/\" style=\"\" rel=\"noopener\">its website<\/a>. The company operates on a zero commission model, allowing drivers to keep 100% of their earnings. Edited excerpts from our conversation:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I\u2019m the founder and CEO of Drife<\/strong>. I come from a finance background and worked with Microsoft and a hedge fund before starting Drife, which is a very personal story for me. I\u2019ve used ride-hailing apps like Uber and Careem extensively \u2014 ever since Uber launched in India when I moved to New Delhi. As a user, I was aware of problems like fluctuating prices, but I valued the convenience of getting a cab at my doorstep. One night, a cab driver asked me to cancel the trip and pay him less directly. That alarmed me. I realized cab drivers were paying Uber a 45% commission, which got me thinking about how this system affects drivers. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My father started his career as a taxi driver. <\/strong>I saw firsthand the struggles \u2014 the long hours and lack of family time. Despite technological advancements, drivers today are still making the same money but working much harder. I felt that if I didn\u2019t address this issue, I wasn\u2019t sure who else could. That\u2019s how Drife came about. I had no idea how to do it initially, but I knew I wanted to create something better for drivers and their families.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I typically start my day by catching up with my core team. <\/strong>I have four or five people who directly report to me, and I speak with them first thing in the morning to understand their plans for the day, address any blockers, and provide support with anything they need. After this, my tasks vary depending on the phase the company is in \u2014 whether it's fundraising or launching operations in a new city. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Every day is very different.<\/strong> As an entrepreneur, you can end up in a very different place than what you had decided for yourself. You have to be ready for a very dynamic day, and I think that's what the life of a founder is all about \u2014 jumping from one place to another. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Most of the time, my day involves disaster management<\/strong>, and people call me a \u201cwar room CEO.\u201d Whenever anything goes wrong, they say, \u201cShe's going to solve it for us.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The first hour of my day is crucial<\/strong> because I work between India and the West. I make sure both operations can function independently of me. It's very important that the team can carry on without having to come back to me throughout the day.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I\u2019ve worked hard to bring discipline into my life<\/strong>, and I like to stay disciplined throughout my day. I\u2019m a religious and spiritual person, so I make sure to offer all my prayers no matter where I am or what I\u2019m doing and reconnect with God as much as possible.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I wake up at 4:30am and dedicate time to myself until 8am<\/strong>, avoiding distractions and not speaking at all. It\u2019s important to reflect, reconnect, and stay grounded, and that's only possible when there is no noise. I also meditate and exercise, and by 7:30am, I'm at my desk putting together a list of my tasks for the day. At night, I meditate again and read at least 10 pages of any book.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I wouldn\u2019t say I\u2019m great at balancing work and personal life<\/strong>, but I prioritize relationships with the people who matter. I have a small group of close friends and family, and I make a conscious effort to stay connected with them daily. Building a company is a rollercoaster, and when everything goes down, the support of loved ones means the world.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For Drife, we\u2019re working on expanding to new countries.<\/strong> We\u2019re live in India and Dubai, and we\u2019re working on entering London and Morocco. We also have major goals to enter Saudi Arabia in 2025 \u2014 the place everybody wants to be.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a personal level, my goal is to find peace.<\/strong> I want to be more spiritually awakened because it brings clarity. If you have a chaotic mind, then everything around you is also chaotic, and that will reflect in every aspect of your life. I\u2019m trying to be more at peace and have more clarity in life, and that's only possible with more spiritual awakening in place.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A book I recommend is <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.amazon.com\/Never-Split-Difference-Negotiating-Depended\/dp\/0062407805\" style=\"\" rel=\"noopener\">Never Split the Difference<\/a><\/strong><strong> by Chris Voss.<\/strong> It\u2019s about negotiation skills, which are important for every entrepreneur, specifically because of the different kinds of people that you meet in your day-to-day life. Whether you\u2019re dealing with investors, partners, or vendors, it teaches you how to achieve your goals while negotiating with others.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My father once told me, \u201cIn wrestling, you don\u2019t lose when you fall; you l<\/strong><strong>ose when you don\u2019t get up.\u201d <\/strong>Life will fail you many times, but the key is to have the courage to get up tomorrow and fight again. Nine out of ten founders also give up at one point, but the ones who don't give up are the people who make history.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/blockchain\/\">Blockchain<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/drife\/\">Drife<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/mobility\/\">Mobility<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/transport\/\">transport<\/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=\"98563\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/06\/98563-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-98563\" class=\"content-area-description single-story post-98563 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER<\/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>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>9 December (Monday): Mair Group\u2019s shares will start trading on the ADX. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">10 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>9-13 December (Monday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldrealtycongress.com\/\" style=\"\">World Realty Congress<\/a><\/span><span style=\"font-weight:400;\">, Palazzo Versace, Dubai.<\/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>10-11 December (Tuesday-Wednesday):  <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.forbesmiddleeast.com\/innovation\/under-30\/abu-dhabi-to-host-forbes-middle-easts-under-30-summit-for-the-first-time-celebrating-youth-innovation-and-creativity\" style=\"\">The Forbes Middle East Under 30 Summit<\/a><\/span><span style=\"font-weight:400;\">, The Great Lawn, Umm Al Emarat Park, Abu Dhabi. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>10-12 December (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/meira.me\/conference\/\" style=\"\">Middle East Investor Relations Association (MEIRA Conference)<\/a><\/span><span style=\"font-weight:400;\">, Conrad Abu Dhabi Etihad Towers Hotel, Abu Dhabi. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>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>10-12 December (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/icriforum.org\/events\/international-mangrove-conservation-restoration-conference-2024\/\" style=\"\">The International Mangrove Conservation and Restoration Conference<\/a><\/span><span style=\"font-weight:400;\">, Bab Al Qasr 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): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/automechanika-dubai.ae.messefrankfurt.com\/dubai\/en.html?utm_source=google&utm_medium=cpc&utm_campaign=tagdigital&gad_source=1&gclid=CjwKCAiAmMC6BhA6EiwAdN5iLYV_j6XAMVbZuMda70y6FQaG_GRZQXxglRTZWa8Sd7RkXHS9VJxRaRoCTkcQAvD_BwE\" style=\"\">Automechanika Dubai<\/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>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>17-19 December (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.dwtc.com\/en\/events\/china-home-life-dec-2024\/\" style=\"\">China Home Life<\/a><\/span><span style=\"font-weight:400;\">, Dubai Word Trade Center. <\/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>7-9 January (Tuesday-Thursday): 17th edition of the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/arabplast.info\/\" style=\"\">Arab Plast International Trade Fair for Plastics, Recycling, Petrochemicals, Packaging and Rubber Industry<\/a><\/span><span style=\"font-weight:400;\">, Dubai International Convention and Exhibition Center, Dubai. <\/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<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/coling2025.org\/\" style=\"\">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>22-25 January (Monday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/acresme.com\/\" style=\"\">The Sharjah Real Estate Exhibition<\/a><\/span><span style=\"font-weight:400;\">, Expo Centre, Sharjah. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>27-30 January (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.arabhealthonline.com\/en\/Home.html\" style=\"\">Arab Health Exhibition 2025<\/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>1-6 February (Saturday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/dubaifashionweek.org\/\" style=\"\">Dubai Fashion Week<\/a><\/span><span style=\"font-weight:400;\">, Dubai Design District. <\/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>10-12 February (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.dwtc.com\/en\/events\/japan-kyoto-trade-exhibition-2025\/\" style=\"\">Japan Kyoto Trade Exhibition<\/a><\/span><span style=\"font-weight:400;\">, Dubai Word 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>28-29 February (Friday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/investopia.ae\/events\/investopia-2024\/\" style=\"\">The Investopia 2024<\/a><\/span><span style=\"font-weight:400;\">, the St. Regis, Abu Dhabi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">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 style=\"font-weight:400;\">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\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>Aliph Capital acquires stake in Sanipex | NMDC LTS to acquire Emdad | ADGM gets stablecoin framework<\/p>\n","protected":false},"featured_media":98534,"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-98533","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"846e5a1d-752f-40f1-832e-aa02af73fd3a","teaser":"Aliph Capital acquires stake in Sanipex | NMDC LTS to acquire Emdad | ADGM gets stablecoin framework","photo_url":"https:\/\/ent.news\/2024\/9\/179.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Mubadala acquires Silver Rock, Zelis \u2014 and welcomes new shareholders - UAE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/uae\/issues\/mubadala-acquires-silver-rock-zelis-and-welcomes-new-shareholders\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mubadala acquires Silver Rock, Zelis \u2014 and welcomes new shareholders\" \/>\n<meta property=\"og:description\" content=\"Aliph Capital acquires stake in Sanipex | NMDC LTS to acquire Emdad | ADGM gets stablecoin framework\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/uae\/issues\/mubadala-acquires-silver-rock-zelis-and-welcomes-new-shareholders\/\" \/>\n<meta property=\"og:site_name\" content=\"UAE\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T02:14:40+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/179.jpg?fit=%2C&ssl=1\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/issues\/mubadala-acquires-silver-rock-zelis-and-welcomes-new-shareholders\/\",\"url\":\"https:\/\/enterpriseam.com\/uae\/issues\/mubadala-acquires-silver-rock-zelis-and-welcomes-new-shareholders\/\",\"name\":\"Mubadala acquires Silver Rock, Zelis \u2014 and welcomes new shareholders - UAE\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/issues\/mubadala-acquires-silver-rock-zelis-and-welcomes-new-shareholders\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/issues\/mubadala-acquires-silver-rock-zelis-and-welcomes-new-shareholders\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/179.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-12-06T00:00:00+00:00\",\"dateModified\":\"2025-12-15T02:14:40+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/issues\/mubadala-acquires-silver-rock-zelis-and-welcomes-new-shareholders\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/uae\/issues\/mubadala-acquires-silver-rock-zelis-and-welcomes-new-shareholders\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/issues\/mubadala-acquires-silver-rock-zelis-and-welcomes-new-shareholders\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/179.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/179.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/issues\/mubadala-acquires-silver-rock-zelis-and-welcomes-new-shareholders\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/uae\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Issues\",\"item\":\"https:\/\/enterpriseam.com\/uae\/AMarchives\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Mubadala acquires Silver Rock, Zelis \u2014 and welcomes new shareholders\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#website\",\"url\":\"https:\/\/enterpriseam.com\/uae\/\",\"name\":\"UAE\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/uae\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\",\"name\":\"UAE\",\"url\":\"https:\/\/enterpriseam.com\/uae\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/42998.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/42998.svg\",\"caption\":\"UAE\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Mubadala acquires Silver Rock, Zelis \u2014 and welcomes new shareholders - UAE","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/uae\/issues\/mubadala-acquires-silver-rock-zelis-and-welcomes-new-shareholders\/","og_locale":"en_US","og_type":"article","og_title":"Mubadala acquires Silver Rock, Zelis \u2014 and welcomes new shareholders","og_description":"Aliph Capital acquires stake in Sanipex | NMDC LTS to acquire Emdad | ADGM gets stablecoin framework","og_url":"https:\/\/enterpriseam.com\/uae\/issues\/mubadala-acquires-silver-rock-zelis-and-welcomes-new-shareholders\/","og_site_name":"UAE","article_modified_time":"2025-12-15T02:14:40+00:00","twitter_card":"summary_large_image","twitter_image":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/179.jpg?fit=%2C&ssl=1","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/uae\/issues\/mubadala-acquires-silver-rock-zelis-and-welcomes-new-shareholders\/","url":"https:\/\/enterpriseam.com\/uae\/issues\/mubadala-acquires-silver-rock-zelis-and-welcomes-new-shareholders\/","name":"Mubadala acquires Silver Rock, Zelis \u2014 and welcomes new shareholders - UAE","isPartOf":{"@id":"https:\/\/enterpriseam.com\/uae\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/uae\/issues\/mubadala-acquires-silver-rock-zelis-and-welcomes-new-shareholders\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/issues\/mubadala-acquires-silver-rock-zelis-and-welcomes-new-shareholders\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/179.jpg?fit=%2C&ssl=1","datePublished":"2024-12-06T00:00:00+00:00","dateModified":"2025-12-15T02:14:40+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/uae\/issues\/mubadala-acquires-silver-rock-zelis-and-welcomes-new-shareholders\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/uae\/issues\/mubadala-acquires-silver-rock-zelis-and-welcomes-new-shareholders\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/uae\/issues\/mubadala-acquires-silver-rock-zelis-and-welcomes-new-shareholders\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/179.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/179.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/uae\/issues\/mubadala-acquires-silver-rock-zelis-and-welcomes-new-shareholders\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/uae\/"},{"@type":"ListItem","position":2,"name":"Issues","item":"https:\/\/enterpriseam.com\/uae\/AMarchives\/"},{"@type":"ListItem","position":3,"name":"Mubadala acquires Silver Rock, Zelis \u2014 and welcomes new shareholders"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/uae\/#website","url":"https:\/\/enterpriseam.com\/uae\/","name":"UAE","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/uae\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/uae\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/uae\/#organization","name":"UAE","url":"https:\/\/enterpriseam.com\/uae\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/42998.svg","contentUrl":"https:\/\/ent.news\/internal\/42998.svg","caption":"UAE"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/"}}]}},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/issue\/98533","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/issue"}],"about":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/types\/issue"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/issue\/98533\/revisions"}],"predecessor-version":[{"id":98587,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/issue\/98533\/revisions\/98587"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/media\/98534"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/media?parent=98533"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/categories?post=98533"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/tags?post=98533"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}