{"id":99007,"date":"2024-12-20T00:00:00","date_gmt":"2024-12-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=99007"},"modified":"2025-12-15T02:22:48","modified_gmt":"2025-12-15T02:22:48","slug":"adnocs-xrg-snaps-up-covestro-after-securing-shareholder-approval","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/adnocs-xrg-snaps-up-covestro-after-securing-shareholder-approval\/","title":{"rendered":"Adnoc\u2019s XRG snaps up Covestro after securing shareholder approval"},"content":{"rendered":"<section id=\"99009\" 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=\"99009\">\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\/20\/this-morning-uaev-to-charge-ev-tariffs-in-january-gcc-debt-capital-markets-hit-usd-1-tn\/\">\r\n                            THIS MORNING: UAEV to charge EV tariffs in January + GCC debt capital markets hit USD 1 tn                        <\/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\/20\/this-morning-uaev-to-charge-ev-tariffs-in-january-gcc-debt-capital-markets-hit-usd-1-tn\/\" 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\/20\/this-morning-uaev-to-charge-ev-tariffs-in-january-gcc-debt-capital-markets-hit-usd-1-tn\/')\">\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\/20\/this-morning-uaev-to-charge-ev-tariffs-in-january-gcc-debt-capital-markets-hit-usd-1-tn\/\">\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: UAEV to charge EV tariffs in January + GCC debt capital markets hit USD 1 tn&url=https:\/\/enterpriseam.com\/uae\/2024\/12\/20\/this-morning-uaev-to-charge-ev-tariffs-in-january-gcc-debt-capital-markets-hit-usd-1-tn\/\">\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\/20\/this-morning-uaev-to-charge-ev-tariffs-in-january-gcc-debt-capital-markets-hit-usd-1-tn\/&title=THIS MORNING: UAEV to charge EV tariffs in January + GCC debt capital markets hit USD 1 tn\">\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+UAEV+to+charge+EV+tariffs+in+January+%2B+GCC+debt+capital+markets+hit+USD+1+tn+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F12%2F20%2Fthis-morning-uaev-to-charge-ev-tariffs-in-january-gcc-debt-capital-markets-hit-usd-1-tn%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\/20\/this-morning-uaev-to-charge-ev-tariffs-in-january-gcc-debt-capital-markets-hit-usd-1-tn\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/872.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"99010\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/20\/this-morning-uaev-to-charge-ev-tariffs-in-january-gcc-debt-capital-markets-hit-usd-1-tn\/872-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/872.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"872.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/872.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/872.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99009\" class=\"content-area-description single-story post-99009 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-central-bank-of-the-uae tag-debt tag-dubai tag-enterpriseam-uae tag-evs 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\/.538b7b40-ec67-424e-b011-889a6e00b1e7.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, wonderful people, and happy FRIDAY. <\/strong>We close out the week with big news of Adnoc\u2019s new low carbon platform XRG securing approval from Covestro\u2019s shareholders to acquire a majority stake in the company after over a years of talks. We also have more M&amp;A news from Modon, which is tapping into Europe\u2019s luxury property market, and Julphar, as well as the first blue bond issuance in the Middle East, courtesy of DP World.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER-<\/strong> <strong>Expect a sunnier day in Dubai<\/strong>, with temperatures peaking at 26\u00b0C before cooling to an overnight low of 17\u00b0C. Over in Abu Dhabi, the mercury peaks at 23\u00b0C before cooling to 20\u00b0C overnight.<\/p>\n<p class=\"tag-border-left\">WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a><strong> #1-<\/strong> <strong>GCC debt capital market reaches USD 1 tn:<\/strong> The GCC\u2019s debt capital market (DCM) has a reached a milestone of about USD 1 tn outstanding at the end of the 11-month period of this year, coming on the back of an 11% y-o-y growth in the debt market, with 40% in the form of sukuk, according to a <a target=\"_blank\" href=\"https:\/\/www.fitchratings.com\/research\/islamic-finance\/gcc-debt-capital-market-reaches-usd1trn-major-emerging-market-issuer-in-2025-17-12-2024\" style=\"\" rel=\"noopener\">report<\/a> by Fitch Ratings, citing its global head of Islamic finance, Bashar Al Natoor. The UAE and Saudi Arabia have the most developed DCMs in the region, according to the report.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oil revenues were among the main drivers of the region\u2019s DCM activity,<\/strong> with more issuances expected as oil prices fall amid modest demand and rising supply. GCC banks and corporates are also likely to diversify their debt activity through DCMs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fitch expects the GCC to remain among the largest emerging-market USD debt issuers in 2025 and 2026<\/strong> \u2014 excluding China \u2014 as sovereigns look to invest in government projects, maturing debt, fiscal deficits, diversification goals, and regulatory reforms. However, ongoing geopolitical tensions in the Middle East and Sharia-related complexities could limit DCM growth and sukuk issuances.<\/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>#2- London-based Moore Capital Management\u2019s hedge fund JJJ Capital <\/strong><strong>Management received authorization to expand to Dubai,<\/strong> <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-19\/moore-capital-offshoot-jjj-joins-hedge-funds-rushing-into-dubai\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing unnamed sources with knowledge of the matter.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Influx of relocations in the UAE:<\/strong> The company is the latest in an influx of global financial institutions expanding to the UAE. UK-based ins. firm Rokstone, global private capital advisor Campbell Lutyens and Dutch telecom operator Veon also landed in the Dubai International Finance Market (DIFC) in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/26582194-9872-4af0-bb25-ca0a46e1d82c\/veon,-rokstone,-and-campbell-lutyens-land-in-difc-%2B-al-zarooni-plans-aed-3-bn-in-real-estate-projects\" style=\"\" rel=\"noopener\">November<\/a>. Nineteen new companies also revealed plans to set up shop in the Abu Dhabi Global Market (ADGM) during <a target=\"_blank\" href=\"https:\/\/adfw.com\/\" style=\"\" rel=\"noopener\">Abu Dhabi Finance Week<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About JJJ Capital: <\/strong><a target=\"_blank\" href=\"https:\/\/jjjcapital.com\/?utm_source=chatgpt.com\" style=\"\" rel=\"noopener\">JJJ Capital Management<\/a> was founded by parents Moore Capital Management and <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/joeri-jacobs-16600082\/?originalSubdomain=uk\" style=\"\" rel=\"noopener\">Joeri Jacobs<\/a>. The hedge fund has an office in London and specializes in discretionary global macro trading, focusing on analyzing inflation drivers and their impact on risk assets.<\/p>\n<p class=\"tag-border-left\">DATA POINTS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Central Bank of the UAE reported a 6.2% q-o-q increase in its foreig<\/strong><strong>n assets, to AED 818.5 bn in 3Q 2024<\/strong>, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/1895.pdf\" style=\"\" rel=\"noopener\">Quarterly Monetary, Banking &amp; Financial Markets Developments Report (pdf)<\/a>. This growth was driven by significant expansions in current account balances and deposits with foreign banks, which surged by 66.9% during the quarter, as well as a 9.4% increase in foreign investments. The Central Bank's foreign assets rose 40.2% y-o-y as of September 2024.<\/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=\"wwtt3\"><\/a> <strong>#1- The UAE\u2019s EV charging network UAEV will charge EV tariffs start<\/strong><strong>ing January<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b6rr7lc-uaev-announces-adoption-recently-introduced\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The pricing rates include AED 1.2\/kwh plus VAT for DC chargers and AED 0.7\/kwh plus VAT for AC chargers. The UAEV will also launch a phone application to provide charging station locations, live status updates, and payment options. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Coming from London in the summer? You\u2019ll need to switch from British Airw<\/strong><strong>ays: <\/strong>British Airways has canceled all summer flights from London Heathrow to Abu Dhabi due to ongoing engine issues on some of its aircraft, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/british-airways-makes-additional-schedule-changes-over-engine-issues-2024-12-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. \u201cWe've taken this action because we do not believe the issue will be solved quickly, and we want to offer our customers the certainty they deserve for their travel plans,\u201d the airline said.<\/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>A fast-approaching partial government shutdown in the US <\/strong>is getting most of the foreign press\u2019 attention this morning, after a Republican spending bill backed by President-elect Donald Trump was rejected in the US House of Representatives yesterday. Government funding should expire at midnight today, with a failure to extend that deadline expected to lead to a partial shutdown of funding for several government services, including border enforcement, national parks, and paychecks \u2014 potentially causing delays at airports ahead of the holidays. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/us-congress-has-two-days-avert-shutdown-after-trump-rejects-spending-bill-2024-12-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/politics\/policy\/trump-government-shutdown-spending-bill-republican-plan-08ba24ad?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">WSJ<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/live\/government-shutdown-congress-spending-trump-updates\" style=\"\" rel=\"noopener\">AP<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nbcnews.com\/politics\/congress\/trumps-demands-leave-republicans-no-plan-government-shutdown-rcna184866\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/c42ec427-307a-4fe2-a4b7-9a1fce2de30a\" style=\"\" rel=\"noopener\">FT<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also getting a lot of attention:<\/strong> A French court sentenced Dominique P\u00e9licot \u2014 who was found guilty of drugging and assaulting his wife with strangers for several years \u2014 to 20 years in prison. Another 46 defendants in the case were also found guilty of rape, while two were guilty of attempted rape. Two others were charged with [redacted] assault. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/verdict-due-gisele-pelicot-rape-case-that-horrified-world-2024-12-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/d8e52b2c-5117-4a76-b22b-bf42a805259b\" style=\"\" rel=\"noopener\">FT<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/france-gisele-pelicot-rape-trial-verdicts-2b25791099f785fabb3c46123d30d9f9\" style=\"\" rel=\"noopener\">AP<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/live\/2024\/12\/19\/world\/france-rape-verdict-pelicot\" style=\"\" rel=\"noopener\">NYT<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN OTHER TRIAL NEWS- Luigi Mangione was charged with murder, stalking, along with other weapon and forgery charges, in connection with the alleged murder of UnitedHealthcare CEO <\/strong>Brian Thompson. He appeared in court for the first time yesterday. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/56d2507a-2131-44b8-bef8-893b48906f02\" style=\"\" rel=\"noopener\">FT<\/a> | <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/us\/live-news\/the-latest-on-the-unitedhealthcare-ceo-killing-suspect-12-19-24\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/what-charges-does-luigi-mangione-face-over-unitedhealth-executive-killing-2024-12-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CLOSER TO HOME- Israeli warplanes struck Yemeni capital Sanaa <\/strong><strong>for the first time<\/strong><strong> after the Houthis launched missile attacks against Israel. <\/strong>The Israeli strikes reportedly killed nine people, and damaged energy facilities and power stations, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-19\/israel-attacks-yemen-s-capital-sanaa-after-houthi-missile-strike?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. <\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">***<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>You\u2019re reading EnterpriseAM UAE<\/strong>, your essential daily roundup of business, economics, and must-read news about the UAE, delivered straight to your inbox. We\u2019re out Monday through Friday by 7am UAE time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM UAE is available without charge <\/strong>thanks to the generous support of our friends at Mashreq.&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<p class=\"tag-border-left\"> CIRCLE YOUR CALENDAR- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An inaugural <\/strong><strong><a target=\"_blank\" href=\"https:\/\/mediaoffice.ae\/en\/news\/2024\/december\/19-12\/dubai-ai-week\" style=\"\" rel=\"noopener\">Dubai AI Week<\/a><\/strong><strong> will take place on 21-25 April <\/strong>at the Museum of the Future and Area 2071 in the Emirates Towers in Dubai. The event will gather global AI experts, thought leaders, and decision-makers for a series of conferences, initiatives, and exhibitions focused on advancements in artificial intelligence. It will feature the second iteration of the Dubai AI Retreat; a prompt engineering competition; a Dubai assembly for generative AI, which will see the participation of ministers and CEOs; a Dubai AI festival; and the machines can see summit. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/central-bank-of-the-uae\/\">Central Bank of the UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai\/\">Dubai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/evs\/\">EVs<\/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=\"99011\" 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=\"99012\" 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=\"99012\">\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\/20\/adnocs-xrg-gets-covestro-shareholders-approval-to-acquire-majority-stake-in-chemicals-firm\/\">\r\n                            Adnoc's XRG gets Covestro shareholders\u2019 approval to acquire majority stake in chemicals firm                        <\/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\/20\/adnocs-xrg-gets-covestro-shareholders-approval-to-acquire-majority-stake-in-chemicals-firm\/\" 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\/20\/adnocs-xrg-gets-covestro-shareholders-approval-to-acquire-majority-stake-in-chemicals-firm\/')\">\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\/20\/adnocs-xrg-gets-covestro-shareholders-approval-to-acquire-majority-stake-in-chemicals-firm\/\">\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's XRG gets Covestro shareholders\u2019 approval to acquire majority stake in chemicals firm&url=https:\/\/enterpriseam.com\/uae\/2024\/12\/20\/adnocs-xrg-gets-covestro-shareholders-approval-to-acquire-majority-stake-in-chemicals-firm\/\">\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\/20\/adnocs-xrg-gets-covestro-shareholders-approval-to-acquire-majority-stake-in-chemicals-firm\/&title=Adnoc's XRG gets Covestro shareholders\u2019 approval to acquire majority stake in chemicals firm\">\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%27s+XRG+gets+Covestro+shareholders%E2%80%99+approval+to+acquire+majority+stake+in+chemicals+firm+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F12%2F20%2Fadnocs-xrg-gets-covestro-shareholders-approval-to-acquire-majority-stake-in-chemicals-firm%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\/20\/adnocs-xrg-gets-covestro-shareholders-approval-to-acquire-majority-stake-in-chemicals-firm\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2072.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"99013\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/20\/adnocs-xrg-gets-covestro-shareholders-approval-to-acquire-majority-stake-in-chemicals-firm\/2072-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2072.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2072.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2072.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2072.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99012\" class=\"content-area-description single-story post-99012 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-adnoc tag-bp tag-covestro tag-enterpriseam-uae tag-julphar tag-ma-watch tag-petrochemicals tag-xrg 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\/.daa9e2e5-e0d4-42ee-8992-c46ccff4bcfc.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>That's a wrap on Adnoc\u2019s take over of Covestro:<\/strong> Adnoc\u2019s new low-carbon energy investment arm XRG secured a majority stake in German chemicals company Covestro following the completion of its voluntary public takeover offer, according to a <a target=\"_blank\" href=\"https:\/\/xrg.ae\/en\/news\/XRG%20Significantly%20Exceeds%20Shareholder%20Acceptance%20Threshold%20for%20Covestro%20AG%20Offer\" style=\"\" rel=\"noopener\">press release.<\/a> The offer \u201csignificantly exceeded\u201d the minimum shareholder acceptance threshold required for it to go through. The acquisition is the largest from a Middle Eastern buyer in Europe in 16 years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know:<\/strong> XRG acquired a 91.3% stake in Covestro, with the transaction still subject to regulatory approvals, including merger control and foreign investment regulations, with an expected closing date in the second half of 2025. XRG will keep Covestro as a standalone business, Khaled Salmeen, Adnoc\u2019s executive director for downstream and trading, told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-19\/adnoc-sees-chemical-firm-covestro-as-standalone-growth-business?embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> in an interview. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PLUS- <\/strong><strong>XRG has committed to \u201cfully support Covestro in executing its \u201cSustainable Future\u201d strategy<\/strong> and further strategic development,\u201d following the acquisition, the statement said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Refresher: <\/strong>After over a year of negotiations, Covestro\u2019s management <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/6886d3d2-94a6-4705-bee9-1d9c3cf6e035\/this-morning:-adnoc%E2%80%99s-covestro-takeover-gets-management-nod-%2B-cbuae-cuts-rates-in-line-with-fed\" style=\"\" rel=\"noopener\">expressed support<\/a> for Adnoc's EUR 14.7 bn (c. USD 16.3 bn) takeover offer earlier in November. The acquisition had already <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/585d8d94-ac28-4261-90ad-670199174838\/%253cmark%253ecovestro%253c%2Fmark%253e%25e2%2580%2599s-shareholders-greenlight-adnoc%25e2%2580%2599s-takeover-%2B-fuel-prices-at-their-lowest-this-year-in-december\" style=\"\" rel=\"noopener\">surpassed<\/a> the minimum shareholder acceptance threshold when the initial acceptance period ended in November, reaching around 70%. The additional acceptance period ended 16 December. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Regulatory clearances from countries where Covestro operates are already pouring in:<\/strong> The acquisition received approval <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/60c104fb-5036-4ed3-b4b0-3c40bc0e4b0c\/this-morning:-amman-stock-exchange-joins-tabadul-%2B-uae-mercosur-trade-agreement-in-2025%3F\" style=\"\" rel=\"noopener\">last week<\/a> from the Competition Commission of India, where Covestro operates through its subsidiary Covestro India.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A<\/strong><strong>dnoc is making big moves in petrochemicals and gas:<\/strong> The state oil giant completed several gas and chemicals acquisitions this year. The state-run oil giant finalized its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/1518b3be-ab9f-4fa0-8564-6afaf3eb94a0\/adnoc-completes-acquisition-of-oci-global%25e2%2580%2599s-stake-in-fertiglobe,-with-el-hoshy-set-to-stay-on-as-ceo\" style=\"\" rel=\"noopener\">USD 3.62 bn<\/a> acquisition of OCI Global's 50%+1 stake in the chemical producer Fertiglobe in October.The company is also looking to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/4712abb5-5e8f-4d08-82b0-c44edac0dea7\/adnoc,%253cmark%253e-borouge%253c%2Fmark%253e-to-develop-polyolefins-complex-in-china\" style=\"\" rel=\"noopener\">merge<\/a> its plastics unit Borouge with Austria-based integrated oil and gas company OMV\u2019s Borealis, but the transaction is facing delays.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>XRG is starting off strong:<\/strong> Adnoc launched its USD 80 bn lower-carbon energy and chemicals investment platform only <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/9f485310-a3c9-4c1e-a02e-cba776c56e64\/adnoc-sets-up-low-carbon-energy-and-chemicals-investment-unit\" style=\"\" rel=\"noopener\">last month<\/a>, with a target of focusing on international investments in lower-carbon energy and chemicals, and doubling its asset value over the next decade. Earlier this week, the Adnoc subsidiary partnered up with BP to launch a joint venture called <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/940c83d7-18df-4abd-9d4c-d3c67e3e77ba\/adnoc%25e2%2580%2599s%253cmark%253e-xrg%253c%2Fmark%253e-makes-its-first-investment-%2B-adnoc-secures-another-supply-agreement-for-al-ruwais\" style=\"\" rel=\"noopener\">Arcius Energy<\/a>, which will focus on investments in lower-carbon transition fuel, with plans to invest initially in gas assets in Egypt. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> Adnoc appointed a board for XRG <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/a1c8975b-586f-4ed3-9aa6-6db9e32ea010\/adnoc%25e2%2580%2599s%253cmark%253e-xrg%253c%2Fmark%253e-gets-a-new-board\" style=\"\" rel=\"noopener\">last week<\/a>, with CEO Sultan Al Jaber serving as executive chairman. The board includes former BP CEO Bernard Looney, Blackstone's Jon Gray, ADQ CEO Mohamed Hassan Alsuwaidi, UAE President\u2019s Office for Strategic Affairs Chairman Ahmed Mubarak Al Mazrouei, Abu Dhabi Department of Finance Chairman Jasem Al Zaabi, and OCI Global Executive Chair Nassef Sawiris.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The story also got ink <\/strong>in <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/covestro-shareholders-accept-adnocs-xrg-takeover-offer-2024-12-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adnoc\/\">Adnoc<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/bp\/\">BP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/covestro\/\">Covestro<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/julphar\/\">Julphar<\/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\/petrochemicals\/\">petrochemicals<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/xrg\/\">XRG<\/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=\"99014\" 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=\"99014\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/20\/modon-acquires-luxury-real-estate-firm-in-spain-julphar-sells-insulin-api-manufacturing-subsidiary\/\">\r\n                            Modon acquires luxury real estate firm in Spain + Julphar sells insulin API manufacturing subsidiary                        <\/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\/20\/modon-acquires-luxury-real-estate-firm-in-spain-julphar-sells-insulin-api-manufacturing-subsidiary\/\" 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\/20\/modon-acquires-luxury-real-estate-firm-in-spain-julphar-sells-insulin-api-manufacturing-subsidiary\/')\">\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\/20\/modon-acquires-luxury-real-estate-firm-in-spain-julphar-sells-insulin-api-manufacturing-subsidiary\/\">\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=Modon acquires luxury real estate firm in Spain + Julphar sells insulin API manufacturing subsidiary&url=https:\/\/enterpriseam.com\/uae\/2024\/12\/20\/modon-acquires-luxury-real-estate-firm-in-spain-julphar-sells-insulin-api-manufacturing-subsidiary\/\">\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\/20\/modon-acquires-luxury-real-estate-firm-in-spain-julphar-sells-insulin-api-manufacturing-subsidiary\/&title=Modon acquires luxury real estate firm in Spain + Julphar sells insulin API manufacturing subsidiary\">\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=Modon+acquires+luxury+real+estate+firm+in+Spain+%2B+Julphar+sells+insulin+API+manufacturing+subsidiary+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F12%2F20%2Fmodon-acquires-luxury-real-estate-firm-in-spain-julphar-sells-insulin-api-manufacturing-subsidiary%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\/20\/modon-acquires-luxury-real-estate-firm-in-spain-julphar-sells-insulin-api-manufacturing-subsidiary\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1915.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"99015\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/20\/modon-acquires-luxury-real-estate-firm-in-spain-julphar-sells-insulin-api-manufacturing-subsidiary\/1915-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1915.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1915.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1915.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1915.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99014\" class=\"content-area-description single-story post-99014 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-enterpriseam-uae tag-julphar tag-ma-watch tag-manufacturing tag-modon tag-real-estate wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.f5e23eb1-fc41-4665-9ae1-4c9a2ab92231.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>A<\/strong><strong>bu Dhabi-based Modon Holding finalized the acquisition of Spa<\/strong><strong>nish real estate <\/strong><strong>company La Zagaleta<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/1909.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>, which did not disclose the value of the acquisition. The acquisition marks a \u201csignificant milestone of its entry into Europe\u2019s luxury real estate market,\u201d the developer said. It\u2019s not clear whether Modon currently owns any luxury assets in Europe. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What is Modon getting?<\/strong> The acquisition will give the developer ownership of 2.7 mn sqm of land area inside gated luxury resort La Zagaleta in Costa del Sol, Spain. The resort will provide Modon access to a development pipeline for luxury residences, a hotel plot, and the management of over 300 existing homes. The real estate outfit plans to continue the remaining development of the estate. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More in the pipeline: <\/strong>The transaction also includes providing Modon ownership of La Zagaleta\u2019s planned Majarambuz development, a 2.2 mn sqm land bank near Sotogrande, which is in the process of urbanization.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- The develo<\/strong><strong>per is pursuing international expansion<\/strong>, and was tapped earlier in October as the master developer on the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/0126828b-cefb-47f2-99e2-f21420679026\/%253cmark%253emodon%253c%2Fmark%253e-holding-appointed-as-master-developer-for-egypt%25e2%2580%2599s-ras-el-hekma-as-megaproject-kicks-into-gear\" style=\"\" rel=\"noopener\">USD 35 bn Ras El Hekma megaproject<\/a> in Egypt. Its subsidiary, Adnec\u2019s Excel London, also recently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/5004a191-e068-49a4-b69c-1933e6246d34\/adq-completes-acquisition-of-stake-in-sotheby%25e2%2580%2599s\" style=\"\" rel=\"noopener\">acquired London\u2019s BDCG Holdings,<\/a> which owns the Business Design Center venue in north London. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">OTHER M&A NEWS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ras Al Khaimah-based pharma firm Julphar finalized the sale of its entire sharehold<\/strong><strong>ing in DiabTec<\/strong>, a subsidiary focused on human insulin API manufacturing, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/1890.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>. This subsidiary represented 12.6% of Julphar's consolidated total assets as of 30 September. The transaction will be settled in cash at closing and is expected to positively impact the company's net income in late 2024 or 1Q 2025, depending on the timeline of closing, though the disclosure did not mention the value of the sale.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The agreement involves the manufacturing operations of insulin API and will not affect Julphar's finished insulin product business. To maintain a consistent supply of insulin API, Julphar will establish a supply agreement with DiabTec as part of the agreement. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/julphar\/\">Julphar<\/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\/manufacturing\/\">MANUFACTURING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/modon\/\">Modon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/real-estate\/\">Real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"99016 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=\"99016\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/20\/99016-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99016\" class=\"content-area-description single-story post-99016 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=\"99017\" 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=\"99017\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/20\/dp-world-issues-menas-first-blue-bond\/\">\r\n                            DP World issues Mena\u2019s first blue bond                        <\/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\/20\/dp-world-issues-menas-first-blue-bond\/\" 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\/20\/dp-world-issues-menas-first-blue-bond\/')\">\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\/20\/dp-world-issues-menas-first-blue-bond\/\">\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=DP World issues Mena\u2019s first blue bond&url=https:\/\/enterpriseam.com\/uae\/2024\/12\/20\/dp-world-issues-menas-first-blue-bond\/\">\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\/20\/dp-world-issues-menas-first-blue-bond\/&title=DP World issues Mena\u2019s first blue bond\">\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=DP+World+issues+Mena%E2%80%99s+first+blue+bond+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F12%2F20%2Fdp-world-issues-menas-first-blue-bond%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\/20\/dp-world-issues-menas-first-blue-bond\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/748.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"99018\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/20\/dp-world-issues-menas-first-blue-bond\/748-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/748.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"748.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/748.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/748.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99017\" class=\"content-area-description single-story post-99017 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt tag-debt-watch tag-dp-world 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\/.e20c72b3-d363-4a35-b3f2-a94301a333dd.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>First ever blue bonds for DP World: <\/strong>Port operator DP World has issued the Mena region\u2019s first blue bond worth USD 100 mn, according to a <a target=\"_blank\" href=\"https:\/\/www.dpworld.com\/news\/releases\/dp-world-becomes-the-first-company-in-the-middle-east-to-issue-a-blue-bond\/\" style=\"\" rel=\"noopener\">statement<\/a>. The issuance is also the first corporate blue bond out of the broader Central and Eastern Europe, Middle East, and North Africa region.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- What is a blue bond? <\/strong>A blue bond is a facility that supports sustainable marine and fisheries projects. It is used by governments or development banks to raise funds from key investors to finance marine and ocean-based projects.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tightest spread for DP World so far:<\/strong> The five-year blue bond was priced at a spread of 99.6 bps above US treasuries \u2014 representing DP World\u2019s tightest ever spread in the bond or sukuk market. It also came with a 5.25% coupon rate. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>Global investment management firm T. Rowe Price Associates was the main investor, while Citigroup supported the port operator in arranging the issuance under its updated sustainable finance framework. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where will the money go? <\/strong>The funds will go towards several projects, including sustainable port development, expanding marine ecosystem conservation and restoration projects, and marine pollution initiatives.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> DP World was looking to raise at least USD 1 bn from a 10-year USD-denominated green sukuk issuance with initial price guidance of around 150 basis points above US Treasuries <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/5f028b1f-b5ea-4611-bc4d-3cde361b564c\/dp-world-to-issue-usd-1-bn-maiden-green-sukuk\" style=\"\" rel=\"noopener\">in September 2023<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/debt-watch\/\">DEBT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dp-world\/\">DP World<\/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=\"99019\" 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=\"99019\">\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\">CAPITAL MARKETS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/20\/adx-and-shanghai-bourse-to-link-up-via-etfs-franklin-templeton-launches-eighth-feeder-fund-in-difc\/\">\r\n                            ADX and Shanghai bourse to link up via ETFs + Franklin Templeton launches eighth feeder fund in DIFC                        <\/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\/20\/adx-and-shanghai-bourse-to-link-up-via-etfs-franklin-templeton-launches-eighth-feeder-fund-in-difc\/\" 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\/20\/adx-and-shanghai-bourse-to-link-up-via-etfs-franklin-templeton-launches-eighth-feeder-fund-in-difc\/')\">\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\/20\/adx-and-shanghai-bourse-to-link-up-via-etfs-franklin-templeton-launches-eighth-feeder-fund-in-difc\/\">\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=ADX and Shanghai bourse to link up via ETFs + Franklin Templeton launches eighth feeder fund in DIFC&url=https:\/\/enterpriseam.com\/uae\/2024\/12\/20\/adx-and-shanghai-bourse-to-link-up-via-etfs-franklin-templeton-launches-eighth-feeder-fund-in-difc\/\">\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\/20\/adx-and-shanghai-bourse-to-link-up-via-etfs-franklin-templeton-launches-eighth-feeder-fund-in-difc\/&title=ADX and Shanghai bourse to link up via ETFs + Franklin Templeton launches eighth feeder fund in DIFC\">\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=ADX+and+Shanghai+bourse+to+link+up+via+ETFs+%2B+Franklin+Templeton+launches+eighth+feeder+fund+in+DIFC+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F12%2F20%2Fadx-and-shanghai-bourse-to-link-up-via-etfs-franklin-templeton-launches-eighth-feeder-fund-in-difc%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\/20\/adx-and-shanghai-bourse-to-link-up-via-etfs-franklin-templeton-launches-eighth-feeder-fund-in-difc\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/440.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"99020\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/20\/adx-and-shanghai-bourse-to-link-up-via-etfs-franklin-templeton-launches-eighth-feeder-fund-in-difc\/440-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/440.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"440.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/440.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/440.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99019\" class=\"content-area-description single-story post-99019 post type-post status-publish format-standard has-post-thumbnail hentry category-capital-markets tag-adx tag-capital-markets tag-china tag-dubai-international-financial-center tag-enterpriseam-uae tag-etfs tag-uae-china-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\/2025\/3\/.6ce0c394-aef2-4a9f-b695-bfcf25207990.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>ADX and Shanghai bourse to get ETF link:<\/strong> The Abu Dhabi Securities Exchange (ADX) is set to welcome an exchange traded fund (ETF) tracking Chinese stocks, while Shanghai\u2019s bourse will get an Arab company-tracking ETF that feeds into a separate Abu Dhabi-listed ETF, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/74532832-9d96-4a15-8648-3debdac8c6e3\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports, citing statements from Italian asset manager Azimut Group. The Italian asset manager is launching the ETFs alongside China Universal Asset Management (CUAM), with the aim of giving Chinese and UAE investors access to each other\u2019s stock markets as part of an ETF link program between China and the UAE. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The game plan for China\u2019s ETF: <\/strong>Azimut will launch an ETF on the ADX investing in CUAM\u2019s existing ETF listed on the Shanghai Stock Exchange (SSE), which tracks the CSI A500 index, tracking 500 mid-and-small-cap companies listed on the exchange. The FT did not disclose a timeline for the ETF\u2019s launch. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What about Abu Dhabi\u2019s ETF? <\/strong>CUAM will list a separate ETF on the Shanghai exchange, which will invest in an pan-Arab-focused ETF that Azimut is set to launch on the ADX. The ETF will be launched on the ADX by 3Q 2025. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We knew this was coming: <\/strong>Last year, the ADX and the Shenzhen Stock Exchange (SZSE) also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/37a66fea-0514-4d82-a9f8-931a293499c1\/adio-%2B-gridserve-developing-ev-industry-%2B-ras-al-khaimah-gets-greener-bus-stops-%2B-wizz-air-launches-route-with-turkistan\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/37a66fea-0514-4d82-a9f8-931a293499c1\/adio-%2B-gridserve-developing-ev-industry-%2B-ras-al-khaimah-gets-greener-bus-stops-%2B-wizz-air-launches-route-with-turkistan\" style=\"\" rel=\"noopener\">inked an MoU<\/a> to enhance cross-border investment and ETF cooperation between China and the UAE. In <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/7069d71e-02d8-46d8-8679-5cd2cad07301\/uae-gets-its-first-low-orbit-radar-imaging-satellite\" style=\"\" rel=\"noopener\">August<\/a>, the Shenzhen Stock Exchange and Dubai Financial Market also inked another MoU for the same purpose.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This comes amid a wider context of China-based stock exchanges boosti<\/strong><strong>ng their ties with Arab stock exchanges<\/strong> through ETFs. Other than the UAE, the SZSE also inked cooperation MoUs with Saudi and Qatari exchanges. This comes amid a surge of collaboration between China and the Middle East as they look to reduce dependence on financial systems and capital flows from the West.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ADX has been getting a lot of Asian ETFs late<\/strong><strong>ly<\/strong>, with Lunate launching a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/4d577dcb-69d5-404b-b525-f6940a8b16b8\/%253cmark%253elunate%253c%2Fmark%253e-launches-japanese-etf\" style=\"\" rel=\"noopener\">Japanese ETF<\/a> earlier in May and an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/25d62381-5bef-4e76-94c5-321fed922750\/the-adx-now-has-an-indian-etf\" style=\"\" rel=\"noopener\">Indian ETF<\/a> in January. Chimera also launched its S&P China HK Shariah ETF, a Shariah-compliant ETF tracking Hong Kong-listed Chinese equities, in May 2023. The ETF went live on the ADX on 5 June.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">OTHER CAPITAL MARKETS NEWS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US\u2019 Franklin Templeton launches eighth feeder fund in DIFC:<\/strong> US-based investment management firm Franklin Templeton launched the FTIFF Franklin India Fund, an addition to its existing fund range <a target=\"_blank\" href=\"https:\/\/www.franklintempletonglobal.com\/uae-feeder-funds\" style=\"\" rel=\"noopener\">Franklin Templeton Investments Feeder Funds<\/a> (FTIFF) in the Dubai International Financial Center (DIFC), <a target=\"_blank\" href=\"https:\/\/www.tradearabia.com\/touch\/article\/BANK\/429439\" style=\"\" rel=\"noopener\">Trade Arabia<\/a> reported. The fund gives retail investors in the UAE access to \u201c[India\u2019s] positive growth prospects,\u201d Amar Mehta, head of retail for Gulf, Eastern Mediterranean & Africa at Franklin Templeton is quoted as saying, without disclosing further details on the fund\u2019s focus. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This adds to Franklin Templeton\u2019s seven other feeder funds <\/strong>in the DIFC, launched earlier in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/d3b80ef8-2614-4a0d-90ba-158bf1e310ce\/%253cmark%253efranklin%253c%2Fmark%253e%253cmark%253e-templeton%253c%2Fmark%253e-launches-seven-feeder-funds-in-the-difc\" style=\"\" rel=\"noopener\">July<\/a>, in a bid to give retail investors access to global and regional fixed income assets, technology assets, and Shariah-compliant strategies. The seven feeder funds are available through onshore, conventional, and Shariah-compliant consumer banks, and were launched after the Securities and Commodities Authority (SCA) <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/a16449a8-f2b9-4c70-9026-23cdedfaa7cc\/banks-can-no-longer-market-foreign-funds-to-retail-investors-in-the-emirates\" style=\"\" rel=\"noopener\">issued a decision<\/a> in April prohibiting funds and asset managers outside of the UAE from being publicly offered for retail subscription in the UAE. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong>Domestic feeder funds \u2014 essentially a sub-fund that pools investment capital under a larger umbrella fund \u2014 are one way retail investors can gain access to foreign master funds.<\/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\/adx\/\">ADX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai-international-financial-center\/\">Dubai International Financial Center<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/etfs\/\">ETFs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/uae-china-relations\/\">UAE-China 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=\"99021\" 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=\"99021\">\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\">TRANSPORT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/20\/rta-awards-aed-20-5-bn-contract-for-blue-metro-line-development\/\">\r\n                            RTA awards AED 20.5 bn contract for Blue Metro line development                        <\/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\/20\/rta-awards-aed-20-5-bn-contract-for-blue-metro-line-development\/\" 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\/20\/rta-awards-aed-20-5-bn-contract-for-blue-metro-line-development\/')\">\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\/20\/rta-awards-aed-20-5-bn-contract-for-blue-metro-line-development\/\">\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=RTA awards AED 20.5 bn contract for Blue Metro line development&url=https:\/\/enterpriseam.com\/uae\/2024\/12\/20\/rta-awards-aed-20-5-bn-contract-for-blue-metro-line-development\/\">\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\/20\/rta-awards-aed-20-5-bn-contract-for-blue-metro-line-development\/&title=RTA awards AED 20.5 bn contract for Blue Metro line development\">\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=RTA+awards+AED+20.5+bn+contract+for+Blue+Metro+line+development+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F12%2F20%2Frta-awards-aed-20-5-bn-contract-for-blue-metro-line-development%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\/20\/rta-awards-aed-20-5-bn-contract-for-blue-metro-line-development\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/354.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"99022\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/20\/rta-awards-aed-20-5-bn-contract-for-blue-metro-line-development\/354-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/354.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"354.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/354.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/354.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99021\" class=\"content-area-description single-story post-99021 post type-post status-publish format-standard has-post-thumbnail hentry category-transport tag-enterpriseam-uae tag-infrastructure tag-roads-and-transport-authority 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\/.092096c3-4d2b-456e-af82-581528966b27.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>RTA awards contract for Blue Metro line: <\/strong>The Dubai Roads and Transportation Authority (RTA) has awarded the project to construct the Dubai Blue Metro line, valued at AED 20.5 bn, to a consortium comprising Turkey's Mapa and Limak, alongside China's CRRC, according to a <a target=\"_blank\" href=\"https:\/\/www.rta.ae\/wps\/portal\/rta\/ae\/home\/news-and-media\/all-news\/NewsDetails\/announcing-the-awarding-of-dubai-metro-blue-line-project\" style=\"\" rel=\"noopener\">press release<\/a>. The metro line is slated to begin operations in September 2029, with construction starting in April 2025. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The return on investments from the project is expected to come in at some AED 56 bn by 2040<\/strong>, due to savings in time, fuel consumption, emissions, and reduced accident-related fatalities, director general at the RTA Mattar Al Tayer said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Project details: <\/strong>The 30-km line will run though 14 stations, connecting Dubai International Airport to major urban hubs such as Mirdif, Al Warqa, International City, Dubai Silicon Oasis, Academic City, and Dubai Creek Harbour. The line will have the capacity to carry 200k passengers daily by 2030, with numbers projected to rise to 320k by 2040, with an hourly capacity of 46k passengers. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Part of Dubai\u2019s 2040 Urban Master Plan, the line aims to support the city\u2019s vision of a \"20-minute city,\"<\/strong> which intends to keep 80% of essential services within a 20-minute radius of each part of Dubai.<\/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\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/roads-and-transport-authority\/\">Roads and Transport Authority<\/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=\"99023\" 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=\"99023\">\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\">DISPUTE WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/20\/bildco-settles-debt-with-ajman-bank\/\">\r\n                            Bildco settles debt with Ajman Bank                        <\/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\/20\/bildco-settles-debt-with-ajman-bank\/\" 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\/20\/bildco-settles-debt-with-ajman-bank\/')\">\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\/20\/bildco-settles-debt-with-ajman-bank\/\">\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=Bildco settles debt with Ajman Bank&url=https:\/\/enterpriseam.com\/uae\/2024\/12\/20\/bildco-settles-debt-with-ajman-bank\/\">\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\/20\/bildco-settles-debt-with-ajman-bank\/&title=Bildco settles debt with Ajman Bank\">\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=Bildco+settles+debt+with+Ajman+Bank+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F12%2F20%2Fbildco-settles-debt-with-ajman-bank%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\/20\/bildco-settles-debt-with-ajman-bank\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/179.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"99024\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/20\/bildco-settles-debt-with-ajman-bank\/179-jpg-23\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/179.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"179.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/179.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/179.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99023\" class=\"content-area-description single-story post-99023 post type-post status-publish format-standard has-post-thumbnail hentry category-dispute-watch tag-ajman-bank tag-bildco tag-debt tag-dispute-watch 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\/.9e3d414c-c765-4291-b114-a364002e5fa3.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Abu Dhabi National Company for Building Materials (Bildco) reached a <\/strong><strong>settlement <\/strong><strong>in its legal dispute with Ajman Bank<\/strong>, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/1908.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>. The agreement includes a signed debt settlement contract that resolves the ongoing legal dispute between the two parties. The disclosure did not mention the exact amount it paid, but Bildco said it received a 13.5% discount on the amount it owed the lender.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ajman Bank waived all lawsuits against Bildco and released the mortgage on the company's factory machines. <\/strong>The full amount has been paid, and legal procedures are in the process of completion.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is the latest in a series of milestones for Bildco\u2019s restructuring plans:<\/strong> Bildco reached a settlement with First Abu Dhabi Bank (FAB) to restructure its debt in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/fcde49e4-0e67-4da0-9fe6-d9beda523ff6\/%253cmark%253ebildco%253c%2Fmark%253e-approves-fab,-ad-ports-settlement-agreement\" style=\"\" rel=\"noopener\">May<\/a>, offering one of its real estate assets as collateral for the arrangement. It also obtained a court order that lifts all foreclosures placed by FAB and Emirates NBD on its assets, properties, and bank accounts in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/de4f8dd8-c8fb-44c7-8e98-a352d6e172c0\/ultra-rich-families-are-set-to-control-usd-9.5-tn-by-2030\" style=\"\" rel=\"noopener\">September<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/ajman-bank\/\">Ajman Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/bildco\/\">Bildco<\/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\/dispute-watch\/\">dispute 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=\"99025\" 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=\"99025\">\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\">KUDOS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/20\/mashreq-al-islamis-ceo-recognized-as-best-islamic-banking-ceo-by-global-business-outlook-awards-fab-classified-as-one-of-four-leading-gcc-banks-by-fitch-plus-al-tamimi-and-company\/\">\r\n                            Mashreq Al Islami's CEO recognized as best Islamic Banking CEO by Global Business Outlook Awards + FAB classified as one of four leading GCC banks by Fitch. AND: Al Tamimi and Company\u2019s training program hits 80% success rate                        <\/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\/20\/mashreq-al-islamis-ceo-recognized-as-best-islamic-banking-ceo-by-global-business-outlook-awards-fab-classified-as-one-of-four-leading-gcc-banks-by-fitch-plus-al-tamimi-and-company\/\" 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\/20\/mashreq-al-islamis-ceo-recognized-as-best-islamic-banking-ceo-by-global-business-outlook-awards-fab-classified-as-one-of-four-leading-gcc-banks-by-fitch-plus-al-tamimi-and-company\/')\">\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\/20\/mashreq-al-islamis-ceo-recognized-as-best-islamic-banking-ceo-by-global-business-outlook-awards-fab-classified-as-one-of-four-leading-gcc-banks-by-fitch-plus-al-tamimi-and-company\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Mashreq Al Islami\u2019s CEO recognized as best Islamic Banking CEO by Global Business Outlook Awards + FAB classified as one of four leading GCC banks by Fitch. PLUS: Al Tamimi and Company\u2019s training program hits 80% success rate&url=https:\/\/enterpriseam.com\/uae\/2024\/12\/20\/mashreq-al-islamis-ceo-recognized-as-best-islamic-banking-ceo-by-global-business-outlook-awards-fab-classified-as-one-of-four-leading-gcc-banks-by-fitch-plus-al-tamimi-and-company\/\">\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\/20\/mashreq-al-islamis-ceo-recognized-as-best-islamic-banking-ceo-by-global-business-outlook-awards-fab-classified-as-one-of-four-leading-gcc-banks-by-fitch-plus-al-tamimi-and-company\/&title=Mashreq Al Islami\u2019s CEO recognized as best Islamic Banking CEO by Global Business Outlook Awards + FAB classified as one of four leading GCC banks by Fitch. PLUS: Al Tamimi and Company\u2019s training program hits 80% success rate\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Mashreq+Al+Islami%E2%80%99s+CEO+recognized+as+best+Islamic+Banking+CEO+by+Global+Business+Outlook+Awards+%2B+FAB+classified+as+one+of+four+leading+GCC+banks+by+Fitch.+PLUS%3A+Al+Tamimi+and+Company%E2%80%99s+training+program+hits+80%25+success+rate+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F12%2F20%2Fmashreq-al-islamis-ceo-recognized-as-best-islamic-banking-ceo-by-global-business-outlook-awards-fab-classified-as-one-of-four-leading-gcc-banks-by-fitch-plus-al-tamimi-and-company%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\/20\/mashreq-al-islamis-ceo-recognized-as-best-islamic-banking-ceo-by-global-business-outlook-awards-fab-classified-as-one-of-four-leading-gcc-banks-by-fitch-plus-al-tamimi-and-company\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/251.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"99026\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/20\/mashreq-al-islamis-ceo-recognized-as-best-islamic-banking-ceo-by-global-business-outlook-awards-fab-classified-as-one-of-four-leading-gcc-banks-by-fitch-plus-al-tamimi-and-company\/251-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/251.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"251.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/251.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/251.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99025\" class=\"content-area-description single-story post-99025 post type-post status-publish format-standard has-post-thumbnail hentry category-kudos tag-abu-dhabi tag-al-tamimi-and-company tag-dnata tag-enterpriseam-uae tag-first-abu-dhabi-bank tag-kudos tag-mashreq 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\/.7a030403-9cfd-4012-b352-05e3b19db6b0.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Mashreq Al Islami\u2019s CEO Ibrahim Al Mheiri has been recogn<\/strong><strong>ized as the best Islamic Banking CEO in the UAE in 2024<\/strong> by the Global Business Outlook Awards, according to a post on <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/mashreq-uae_mashreqalislami-islamicbanking-financialgrowth-activity-7273292772273508352-J_BO?utm_source=share&utm_medium=member_desktop\" style=\"\" rel=\"noopener\">Linkedin<\/a>. Al Mheiri has held the role since 2018. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Fitch Ratings included First Abu Dhabi Bank (FAB) among<\/strong><strong> a list of four leading banks in the GCC <\/strong>in its latest <a target=\"_blank\" href=\"https:\/\/www.fitchratings.com\/research\/banks\/gulf-cooperation-council-flagship-banks-17-12-2024#:~:text=Fitch%20considers%20four%20banks%20(in,BB%2B%2FStable%2Fbb%2B).\" style=\"\" rel=\"noopener\">Gulf Cooperation Council Flagship Banks report<\/a> <strong>. <\/strong>The bank is joined on the list by Qatar National Bank, National Bank of Kuwait, and Bank Muscat as \u201cflagship banks\u201d \u2014 with \u201cdominant market positions as typically the largest franchise in their country, strong and strategic state links, [and] typically high government or ruling family ownership.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Al Tamimi and Company\u2019s training program achieves 80% success rate:<\/strong> Our friends at Al Tamimi and Company\u2019s England and Wales training program has seen 16 trainees qualify as associates, marking an 80% success rate, the law firm said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/1882.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the program:<\/strong> The program, which runs through Al Tamimi Academy \u2014 the law firm\u2019s learning hub \u2014 and allows trainees to learn across all the firm\u2019s departments, welcomed the latest cohort of trainees for their England and Wales training program last month, bringing the total number of trainees joining the program since its launch in 2021 to 43. The law firm introduced the program following changes introduced by the UK\u2019s Solicitors Regulation Authority (SRA) in 2020. <\/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\">MORE KUDOS-<\/p>\n<ul>\n<li><strong>Real estate company <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.imobiliaredubai.com\/\" style=\"\" rel=\"noopener\">Imobiliare Dubai<\/a><\/strong><strong> was presented with the t<\/strong><strong>op award at <\/strong><strong>the Binghatti Broker Awards 2024<\/strong>, honoring its innovative developments and performance. (<a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/imobiliare-dubai-wins-top-award-at-binghatti-broker-awards-2024-u5eudcfe\" style=\"\" rel=\"noopener\">Press release<\/a>) <\/li>\n<li><strong>Abu Dhabi nabs UN Tourism QUEST award: <\/strong>Abu Dhabi has been awarded the United Nations Tourism Organization\u2019s UN Tourism QUEST certification for its excellence in destination management \u2014 making it the sixth destination management organization in the world and the first in the Middle East to receive the certification. (<a target=\"_blank\" href=\"https:\/\/www.unwto.org\/news\/abu-dhabi-awarded-un-tourism-quest-certification-for-excellence-in-destination-management\" style=\"\" rel=\"noopener\">Statement<\/a>)<\/li>\n<li><strong>Emirati airport services provider Dnata was named Ground Support Service<\/strong><strong>s Provider of the Year<\/strong> at the Aviation Business Middle East Awards 2024. (<a target=\"_blank\" href=\"https:\/\/www.dnata.com\/media-centre\/dnata-recognised-as-ground-support-services-provider-of-the-year-for-14th-time-at-aviation-business-middle-east-awards\/\" style=\"\" rel=\"noopener\">Statement<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi\/\">Abu Dhabi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/al-tamimi-and-company\/\">Al Tamimi and Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dnata\/\">Dnata<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/first-abu-dhabi-bank\/\">First Abu Dhabi Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/kudos\/\">KUDOS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/mashreq\/\">Mashreq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"99027\" 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=\"99027\">\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\/20\/mashreq-names-jyothi-bathula-as-new-global-head-of-mgn-managing-director-of-mgn-india\/\">\r\n                            Mashreq names Jyothi Bathula as new global head of MGN + Managing Director of MGN India                        <\/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\/20\/mashreq-names-jyothi-bathula-as-new-global-head-of-mgn-managing-director-of-mgn-india\/\" 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\/20\/mashreq-names-jyothi-bathula-as-new-global-head-of-mgn-managing-director-of-mgn-india\/')\">\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\/20\/mashreq-names-jyothi-bathula-as-new-global-head-of-mgn-managing-director-of-mgn-india\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Mashreq names Jyothi Bathula as new global head of MGN + Managing Director of MGN India&url=https:\/\/enterpriseam.com\/uae\/2024\/12\/20\/mashreq-names-jyothi-bathula-as-new-global-head-of-mgn-managing-director-of-mgn-india\/\">\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\/20\/mashreq-names-jyothi-bathula-as-new-global-head-of-mgn-managing-director-of-mgn-india\/&title=Mashreq names Jyothi Bathula as new global head of MGN + Managing Director of MGN India\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Mashreq+names+Jyothi+Bathula+as+new+global+head+of+MGN+%2B+Managing+Director+of+MGN+India+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F12%2F20%2Fmashreq-names-jyothi-bathula-as-new-global-head-of-mgn-managing-director-of-mgn-india%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\/20\/mashreq-names-jyothi-bathula-as-new-global-head-of-mgn-managing-director-of-mgn-india\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1878.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"99028\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/20\/mashreq-names-jyothi-bathula-as-new-global-head-of-mgn-managing-director-of-mgn-india\/1878-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1878.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1878.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1878.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1878.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99027\" class=\"content-area-description single-story post-99027 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam-uae tag-moves wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.483b7fd4-33a5-4b82-bc92-3e9ec9039eab.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Our friends at <strong>Mashreq <\/strong>appointed <strong>Jyothi Bathula<\/strong> <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/jyothi-bathula-667944305\/\" style=\"\" rel=\"noopener\">(Linkedin)<\/a> as the <strong>global head of <\/strong><strong>Mashreq Global Network (MGN) and managing director of MGN India<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7275087456113184769\/?updateEntityUrn=urn%3Ali%3Afs_updateV2%3A%28urn%3Ali%3Aactivity%3A7275087456113184769%2CFEED_DETAIL%2CEMPTY%2CDEFAULT%2Cfalse%29\" style=\"\" rel=\"noopener\">Linkedin<\/a> post. Bathula has over 20 years of experience in banking and technology services. Before her appointment at Mashreq, she served as chief operating officer at UBS India Service Co, and held the role of COO for the India Operations and Technology division at Credit Suisse, where she oversaw the integration of Credit Suisse into UBS. She also held leadership positions at Credit Suisse in Singapore.<\/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\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"99029\" 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=\"99029\">\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\/20\/ameas-solar-plant-in-egypt-gets-fast-tracked\/\">\r\n                            Amea\u2019s solar plant in Egypt gets fast-tracked                        <\/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\/20\/ameas-solar-plant-in-egypt-gets-fast-tracked\/\" 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\/20\/ameas-solar-plant-in-egypt-gets-fast-tracked\/')\">\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\/20\/ameas-solar-plant-in-egypt-gets-fast-tracked\/\">\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=Amea\u2019s solar plant in Egypt gets fast-tracked&url=https:\/\/enterpriseam.com\/uae\/2024\/12\/20\/ameas-solar-plant-in-egypt-gets-fast-tracked\/\">\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\/20\/ameas-solar-plant-in-egypt-gets-fast-tracked\/&title=Amea\u2019s solar plant in Egypt gets fast-tracked\">\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=Amea%E2%80%99s+solar+plant+in+Egypt+gets+fast-tracked+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F12%2F20%2Fameas-solar-plant-in-egypt-gets-fast-tracked%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\/20\/ameas-solar-plant-in-egypt-gets-fast-tracked\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1170.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"99030\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/20\/ameas-solar-plant-in-egypt-gets-fast-tracked\/1170-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1170.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1170.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1170.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1170.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99029\" class=\"content-area-description single-story post-99029 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-adgm tag-adq tag-also-on-our-radar tag-amea-powe tag-automotive tag-aviation tag-capital-markets tag-e tag-ellington-properties tag-enterpriseam-uae tag-logistics tag-modon tag-renewables wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.4249de73-5dec-462f-a27d-d85fa0f7a773.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">RENEWABLES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Fast tracking Amea\u2019s Benban solar plant: <\/strong>Amea Power will receive a golden license from the Egyptian cabinet for its 1 GW solar power plant with 600 MWh battery storage system in Benban in southern Egypt, according to an Egyptian <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02NPn4npn2sPx7R2xmWUTAPpzhNVTv4ecq7r8QA2fd6q3U3CjC3nKgCyHLvBR5dp2jl\" style=\"\" rel=\"noopener\">cabinet statement<\/a>. The project will see USD 850 mn in investments and will be carried out across two phases, with the first starting operations next August and seeing 300 MW of power and half the battery storage capacity come online. The second will kick off operations in April. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>AMEA <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0e0776b4-6497-4dbd-9af6-c265e8eaedbc\/amea-power-to-invest-usd-800-mn-to-develop-africa%25e2%2580%2599s-largest-solar-power-plant-and%253cmark%253e-battery-storage%253c%2Fmark%253e-projects-in-upper-egypt.-plus:-scatec,-two-int%25e2%2580%2599l-consortia-set-the-wheels-in-motion-on-renewables-projects.\" style=\"\" rel=\"noopener\">inked the purchase power agreement<\/a> for the project with the Egyptian Electricity Transmission Company in September. The project is expected to be the continent\u2019s largest.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Golden license?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d03b6507-b649-4f52-9d7b-1c4bdf41420a\" style=\"\" rel=\"noopener\">Golden licenses<\/a> create a streamlined process to set up new industrial and infrastructure projects in Egypt that fit a certain list of requirements and criteria. The licenses \u2014 also known as \u201csingle approval licenses\u201d \u2014 grant investors a single approval that covers everything from establishing the project, including land allocation and building licensing, through to the operation and management of the project.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">INVESTMENT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>India-based angel fund FAAD Capital launched its inve<\/strong><strong>stor <\/strong><strong>network in Dubai<\/strong>, marking its first foray into international markets, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/faad-capital-expands-global-footprint-with-dubai-launch-thpgbl1d\" style=\"\" rel=\"noopener\">statement<\/a>. The fund also plans to open a physical office in Dubai to strengthen its presence in the GCC region.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About FAAD Capital: <\/strong>The angel fund holds a corpus of USD 40 mn. It invests across diverse sectors and geographies, providing cheques ranging from USD 100k to USD 1 mn to startups in the pre-seed and series A stages. <\/p>\n<p class=\"tag-border-left\">AUTOMOTIVE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/elitegroupholding.com\/\" style=\"\" rel=\"noopener\">Elite Group Holding<\/a><\/strong><strong> signed a AED 100 mn Musataha agreement <\/strong><strong>to develop a 1 <\/strong><strong>mn sqm automotive hub in Dubai Industrial City<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2024\/december\/19-12\/elite-group-holding-signs-agreement-to-develop-aed-100-million--integrated-automotive-hub\" style=\"\" rel=\"noopener\">statement<\/a>. The facility is expected to begin operations in 2Q 2026, serving as the central hub for the group\u2019s operations. The group includes companies like <a target=\"_blank\" href=\"https:\/\/theelitecars.com\/\" style=\"\" rel=\"noopener\">Elite Cars<\/a>, a leading luxury car dealership in the UAE.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Elite Cars was brought under a larger conglomerate named Elite Group Holding in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/5e533d0f-095c-4daa-98e4-a4e8644bf08d\/\" style=\"\" rel=\"noopener\">September<\/a>. The company, which began as a car dealership in the early 2000s, planned to operate over 20 facilities across the UAE by the end of 2024. <\/p>\n<p class=\"tag-border-left\">REAL ESTATE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai-based <\/strong><strong><a target=\"_blank\" href=\"https:\/\/ellingtonproperties.ae\/en\" style=\"\" rel=\"noopener\">Ellington Properties<\/a><\/strong><strong> awarded a AED 6<\/strong><strong>00 mn contract to <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.aromacontracting.com\/\" style=\"\" rel=\"noopener\">Aroma<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.aromacontracting.com\/\" style=\"\" rel=\"noopener\">International Building Contracting<\/a><\/strong><strong> to build the Sanctuary<\/strong>, its first villa community located in Mohammed Bin Rashid City, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/ellington-properties-awards-aed-600mln-contract-to-aroma-international-for-the-sanctuary-in-mbr-city-q0ofjhls\" style=\"\" rel=\"noopener\">statement<\/a>. The Sanctuary is scheduled for completion in 2Q 2026.<\/p>\n<p class=\"tag-border-left\">CAPITAL MARKETS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The Securities and Commodities Authority (SCA) revoked the license o<\/strong><strong>f Onepro <\/strong><strong>International Brokerage, previously known as JRG International Brokerage<\/strong>, removing it from the register of brokerage firms, according to a SCA <a target=\"_blank\" href=\"https:\/\/x.com\/sca_uae\/status\/1869623089128182255\" style=\"\" rel=\"noopener\">post on X<\/a>. The SCA advised clients of Onepro who have not received their financial dues to submit applications to the SCA within three months from 19 December. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- ADGM\u2019s Financial Services Regulatory Authority (FSRA) fined Aar<\/strong><strong>na Capital USD 504k<\/strong> for deficiencies in its anti-money laundering (AML) systems and controls between 8 June 2017 and 13 January 2023, according to a <a target=\"_blank\" href=\"https:\/\/www.adgm.com\/media\/announcements\/the-fsra-of-adgm-imposes-a-financial-penalty-of-usd-504000-on-aarna-capital-limited\" style=\"\" rel=\"noopener\">statement<\/a>. No instances of actual money laundering were identified, and ACL took steps to address the issues identified by the FSRA. ACL settled the matter early without disputing the findings, qualifying it for a 20% discount, decreasing the original USD 630k fine.<\/p>\n<p class=\"tag-border-left\">AGRICULTURE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADQ partnered with South Korean startup <\/strong><strong><a target=\"_blank\" href=\"https:\/\/auqa-dev-website.vercel.app\/\" style=\"\" rel=\"noopener\">Aqua Development<\/a><\/strong><strong> to pilot a <\/strong><strong>half-hectare land-based shrimp farming facility in Kezad's aquaculture zone<\/strong>, making use of Aqua Development\u2019s patented modular system, according to a <a target=\"_blank\" href=\"https:\/\/www.adq.ae\/newsroom\/adq-partners-with-aqua-development-to-launch-pilot-shrimp-farming-facility-in-kezad\/\" style=\"\" rel=\"noopener\">statement<\/a>. The project, co-funded by ADQ\u2019s growth lab, aims to assess the feasibility of sustainable shrimp farming in the UAE while reducing costs and increasing productivity up to tenfold compared to conventional methods.<\/p>\n<p class=\"tag-border-left\">TECH- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Nokia, e& achieve world-first gaming milestone: <\/strong>e& is the first operator globally to deploy Nokia\u2019s network slicing solution to create a dedicated end-to-end slice, according to a <a target=\"_blank\" href=\"https:\/\/www.nokia.com\/about-us\/news\/releases\/2024\/12\/19\/nokia-and-e-uae-showcase-worlds-first-fixed-end-to-end-network-slicing-solution-for-gaming-applications\/\" style=\"\" rel=\"noopener\">statement<\/a>. The solution is tailored to the speed and latency demands of modern gaming applications.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Network slicing? <\/strong>\u201cIt allows [communications service providers] to operate a variety of network services with different services requirements \u2014 such as bandwidth, latency, or availability \u2014 on the same network infrastructure,\u201d according to <a target=\"_blank\" href=\"https:\/\/www.nokia.com\/networks\/network-slicing\/\" style=\"\" rel=\"noopener\">Nokia\u2019s website<\/a>.<\/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 Cargo will launch a new weekly freighter service to Paris Charles de <\/strong><strong>Gaulle Airport starting 7 January 2025<\/strong>, adding over 100 tons of cargo capacity and expanding its freighter network to 12 destinations, according to a <a target=\"_blank\" href=\"https:\/\/www.etihadcargo.com\/en\/news\/etihad-cargo-adds-paris-to-freighter-network-with-new-weekly-service\" style=\"\" rel=\"noopener\">statement<\/a>. The route, connecting via Abu Dhabi to major destinations in China, will cater to specialized cargo needs, including live animals, automotive shipments, and cultural goods.<\/p>\n<p class=\"tag-border-left\">FINANCE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A<\/strong><strong>merican ins. <\/strong><strong>manager<\/strong><strong> Eldridge and California-based global <\/strong><strong>equity management company Carta<\/strong><strong> were among the list of asset managers announcing plans to <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/8077f0bc-a75b-469c-a2aa-69c62445652d\/habibi,-come-to-adgm\" style=\"\" rel=\"noopener\">set up shop in ADGM<\/a><\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/8077f0bc-a75b-469c-a2aa-69c62445652d\/habibi,-come-to-adgm\" style=\"\" rel=\"noopener\"><\/a> during Abu Dhabi Finance Week, according to a <a target=\"_blank\" href=\"https:\/\/www.adgm.com\/media\/announcements\/aum-of-usd-635-billion-at-adfw-caps-stellar-q4-as-trillion-dollar-club-flock-to-adgm\" style=\"\" rel=\"noopener\">press release<\/a>. Eldrige manages USD 74 bn in AUM, while Carta holds an asset under administration portfolio of USD 150 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>With the addition of these new companies, 19 major announcements of companies joining the Abu Dhabi freezone were made during this year\u2019s edition of ADFW, collectively representing an AUM of almost USD 635 bn.<\/p>\n<p class=\"tag-border-left\">LOGISTICS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shipping company SeaLead launched a new direct shipping route connecting <\/strong><strong>Dubai\u2019s Jebel Ali with Karachi in Pakistan and Mombasa in Kenya<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.sea-lead.com\/duke-service-launch\/\" style=\"\" rel=\"noopener\">press release<\/a>. The service includes a port rotation of Karachi, Jebel Ali, Mombasa, and back to Karachi, with the inaugural vessel departing Karachi on 24 December.<\/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\/adq\/\">ADQ<\/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\/amea-powe\/\">Amea Powe<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/capital-markets\/\">capital markets<\/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\/ellington-properties\/\">Ellington Properties<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/modon\/\">Modon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"99031\" 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=\"99031\">\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\/20\/central-banks-in-china-uk-and-japan-keep-rates-unchanged-amid-growing-signs-of-sticky-inflation\/\">\r\n                            Central banks in China, UK, and Japan keep rates unchanged amid growing signs of sticky inflation                        <\/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\/20\/central-banks-in-china-uk-and-japan-keep-rates-unchanged-amid-growing-signs-of-sticky-inflation\/\" 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\/20\/central-banks-in-china-uk-and-japan-keep-rates-unchanged-amid-growing-signs-of-sticky-inflation\/')\">\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\/20\/central-banks-in-china-uk-and-japan-keep-rates-unchanged-amid-growing-signs-of-sticky-inflation\/\">\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=Central banks in China, UK, and Japan keep rates unchanged amid growing signs of sticky inflation&url=https:\/\/enterpriseam.com\/uae\/2024\/12\/20\/central-banks-in-china-uk-and-japan-keep-rates-unchanged-amid-growing-signs-of-sticky-inflation\/\">\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\/20\/central-banks-in-china-uk-and-japan-keep-rates-unchanged-amid-growing-signs-of-sticky-inflation\/&title=Central banks in China, UK, and Japan keep rates unchanged amid growing signs of sticky inflation\">\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=Central+banks+in+China%2C+UK%2C+and+Japan+keep+rates+unchanged+amid+growing+signs+of+sticky+inflation+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F12%2F20%2Fcentral-banks-in-china-uk-and-japan-keep-rates-unchanged-amid-growing-signs-of-sticky-inflation%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\/20\/central-banks-in-china-uk-and-japan-keep-rates-unchanged-amid-growing-signs-of-sticky-inflation\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/839.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"99032\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/20\/central-banks-in-china-uk-and-japan-keep-rates-unchanged-amid-growing-signs-of-sticky-inflation\/839-jpg-18\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/839.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"839.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/839.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/839.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99031\" class=\"content-area-description single-story post-99031 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-china tag-enterpriseam-uae tag-european-central-bank tag-financial-markets tag-inflation tag-interest-rates 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\/.54f3a17c-184e-40fb-9765-0bbfde1c4f7a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Bank of England and the Bank of Japan kept their interest rat<\/strong><strong>es unchanged yesterday<\/strong>, capping off a year of easing with a cautious stance for 2025. Despite the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/9e6bcee5-3413-4cb3-b8b7-ed433c28cbfd\/fed-cuts-rates-by-another-25-bps,-signals-slower-easing-cycle-next-year\" style=\"\" rel=\"noopener\">US Federal Reserve<\/a> and the <a target=\"_blank\" href=\"https:\/\/www.ecb.europa.eu\/press\/pr\/date\/2024\/html\/ecb.mp241212~2acab6e51e.en.html\" style=\"\" rel=\"noopener\">European Central Bank\u2019s (ECB)<\/a> recent rate cuts, central bankers are signalling that inflation continues to prove stickier than expected, pointing to potentially slower easing cycles next year, and triggering sell-offs across stock markets. <\/p>\n<p class=\"tag-border-left\">THE BANK OF ENGLAND- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Bank of England (BoE) kept its interest rate unchanged at 4.75% <\/strong><strong>as it looks to \u201csqueeze\u201d remaining inflationary pressures <\/strong>and reach the 2% target, according to a BoE <a target=\"_blank\" href=\"https:\/\/www.bankofengland.co.uk\/monetary-policy-summary-and-minutes\/2024\/december-2024\" style=\"\" rel=\"noopener\">statement<\/a>. Inflation in the UK hit an eight-month high in November, according to <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/britain-economy-inflation-interest-rates-05d118699b71950480206efd92e112a8\" style=\"\" rel=\"noopener\">AP<\/a>. \u201cWith the heightened uncertainty in the economy, we can't commit to when or by how much we will cut rates in the coming year,\u201d <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/rates-bonds\/bank-england-keeps-rates-steady-policy-split-widens-2024-12-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a> quotes BoE governor Andrew Bailey as saying, striking a cautious tone. The BoE decision was followed by a <a target=\"_blank\" href=\"https:\/\/www.londonstockexchange.com\/indices\/ftse-100\" style=\"\" rel=\"noopener\">1.1%<\/a> drop in the FTSE 100 index.<\/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\">BANK OF JAPAN- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Japan also wants to weigh upcoming risks:<\/strong> The Bank of Japan (BOJ) kept interest rates steady at 0.25% as it bides its time on risks overseas and the wage outlook next year, according to statements from BoJ governor Kazuo Ueda picked up by <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/japan\/boj-governor-uedas-comments-news-conference-2024-12-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. \u201cUnderlying inflation is heightening but at a moderate pace. That is allowing us to go slow in raising rates,\u201d Ueda said. <\/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\">PEOPLE\u2019S BANK OF CHINA- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The People\u2019s Bank of China (PBOC) kept its main benchmark lending rates unchanged this morning<\/strong>, in line with economists\u2019 expectations, <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/12\/20\/china-pboc-keeps-benchmark-lpr-rates-steady-as-fed-signals-fewer-cuts-ahead.html\" style=\"\" rel=\"noopener\">CNBC<\/a> reports. China's leadership <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/9a2f75f1-3e76-4bac-ab57-de4bd0c5406c\/%253cmark%253echina%253c%2Fmark%253e-headed-for-further-stimulus-in-2025\" style=\"\" rel=\"noopener\">indicated<\/a> a shift towards more aggressive economic support in 2025, which is expected to include interest rate cuts and a widening of the 3% fiscal deficit.<\/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\">MORE FALLOUT FROM FED\u2019S CUT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US stocks ended the day flat despite an earlier bounce<\/strong> from a widespread sell-off earlier on Wednesday, with the Nasdaq and the S&P 500 both down a marginal 0.1%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The yield on US 10-year Treasuries also hit its highest level since May<\/strong> at 4.59%, jumping 0.2 percentage points in the past two days, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/d59cef91-b3a8-49fe-ab89-51e213fa0cd8\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\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<\/strong> following the interest rate decisions from China and Japan, with the Nikkei up 0.5% and China\u2019s CSI down 0.2%. Meanwhile, Wall Street futures signal a lower open on news of a potential government shutdown this weekend. <\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table markets-table'>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,273<\/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: -3.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,047<\/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: +24.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Nasdaq Dubai UAE20<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4,109<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.3% (YTD: 6.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : AED<\/strong><strong> CBUAE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 3.67<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 3.67<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-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\">4.4% 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\">4.4% 1 yr<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,892<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6% (YTD: -0.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">30,527<\/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: +23.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,867<\/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: +23.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">8,105<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.1% (YTD: +4.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">4,879<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.6% (YTD: +7.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 72.65<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.0%<\/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>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 3.63<\/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\">+7.4%<\/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 2,611.3<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.6%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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 97,648<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-2.6% (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 fell 0.2% yesterday<\/strong> on turnover of AED 918.2 mn. The index is down 3.2% 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>Julphar (+6.6%), Bildco (+5.0%) and RAK for White Cement and Construction Materials (+3.5%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Commercial Bank International (-10.0%), Mair Group (-8.2%) and Sharjah Cement and Industrial Development (-7.4%). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over on the DFM<\/strong>, the index closed up 0.2% on turnover of AED 771 mn. Meanwhile, Nasdaq Dubai rose 0.3%.<\/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\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/european-central-bank\/\">European Central Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"99033\" 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=\"99033\">\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\">MY MORNING ROUTINE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/20\/my-morning-routine-david-vili-founder-and-ceo-of-solarspace\/\">\r\n                            My Morning Routine: David Vili, founder and CEO of SolarSpace                        <\/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\/20\/my-morning-routine-david-vili-founder-and-ceo-of-solarspace\/\" 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\/20\/my-morning-routine-david-vili-founder-and-ceo-of-solarspace\/')\">\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\/20\/my-morning-routine-david-vili-founder-and-ceo-of-solarspace\/\">\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: David Vili, founder and CEO of SolarSpace&url=https:\/\/enterpriseam.com\/uae\/2024\/12\/20\/my-morning-routine-david-vili-founder-and-ceo-of-solarspace\/\">\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\/20\/my-morning-routine-david-vili-founder-and-ceo-of-solarspace\/&title=My Morning Routine: David Vili, founder and CEO of SolarSpace\">\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+David+Vili%2C+founder+and+CEO+of+SolarSpace+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F12%2F20%2Fmy-morning-routine-david-vili-founder-and-ceo-of-solarspace%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\/20\/my-morning-routine-david-vili-founder-and-ceo-of-solarspace\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1884.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"99034\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/20\/my-morning-routine-david-vili-founder-and-ceo-of-solarspace\/1884-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1884.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1884.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1884.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1884.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99033\" class=\"content-area-description single-story post-99033 post type-post status-publish format-standard has-post-thumbnail hentry category-my-morning-routine tag-enterpriseam-uae tag-my-morning-routine tag-space tag-startup 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\/.55afb003-1063-4346-9425-3ade27130dbb.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>David Vili, founder and CEO of SolarSpace:<\/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 David Vili (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/david-vili\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), the founder and CEO of <a target=\"_blank\" href=\"https:\/\/solarspace.io\/\" style=\"\" rel=\"noopener\">SolarSpace<\/a>.<strong> Edited excerpts from our conversation:<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I\u2019m David Vili, and I\u2019m the founder and CEO of SolarSpace.<\/strong> I'm a self-taught engineer. I dropped out of university when I was very young; I was in one of the top five business schools back then. With SolarSpace, we came here to the UAE as part of the US Chamber of Commerce\u2019s greentech delegation last year, and we were later invited to become a part of the NextGen FDI Initiative by Trade Minister Thani bin Ahmed Al Zeyoudi. Since then, we\u2019ve set up our HQ and manufacturing facility in Abu Dhabi, and an R&D center that we\u2019re currently building in Dubai. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sustainability has always been a very big thing for me.<\/strong> I see how fast we are changing the world, and we have to look a little bit further and see what progress we achieved in the last 20 or 30 years that mankind in the last 3000 years has not been able to achieve \u2014 but by the same token, we need to see how much damage we caused in the last 20 years. Each of us have to do something to be able to preserve our planet \u2014 and that was the biggest driving force for me. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But I also realize that without financial interest, nothing gets moved.<\/strong> Before covid-19, there wasn\u2019t this big push for green energy that you see now. We were able to catch the wave at the right time. Now, it\u2019s becoming mainstream, but it takes time to develop this kind of technology. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our technology came from the University of Arizona and NASA<\/strong>. You know when we were kids and we had the magnifying glass to start a fire? We do something very similar \u2014 we use optical mirrors that were developed at University of Arizona and then point them to the sun to concentrate the solar light using a telescope. What we are able to achieve is around a thousand degrees celsius at the focal point \u2014 like a laser \u2014 in less than eight seconds. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We also have a second technology that was built by the NASA Glenn Research facility<\/strong>, and it was for the mission to planet Venus. Because every probe that we send to Venus gets destroyed in 10 minutes due to its corrosive environment, we needed something that has no moving parts. They developed a heat drive, where we take heat and convert it into sound waves, and sound waves into electrical power or cooling at very high efficiencies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That's on the space application side. But what do we do with this technology? <\/strong>We have two products right now that we're putting on the market. The first can be used for AI data centers, where we install our technology on the roof of data centers to cool it down. This allows data centers to cut down electricity use by 60%. The second product, which we showcased at COP28, is solar desalination \u2014 where we freeze water, instead of boiling it, and drop atmospheric pressure to create a vacuum, which then makes the water evaporate, and you get pharma-grade clean water, and eliminate all the brine that\u2019s usually dumped into the sea. You also get fully dried solids from which you can extract rear earth minerals like lithium that you can use to make batteries. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We signed an MoU with the Minister of Energy in St Kitts and Nevis Island in the Caribbean. <\/strong> We also signed an MoU at COP28 to use our technology to generate solar power in space \u2014 since ours is a lot more powerful and cost-effective than regular solar panels \u2014 and beam it down and link it to the grid. The way I envision it, this can later be offered [without charge] for consumers\u2014 electricity is becoming like oxygen, and I\u2019ve suggested to the leadership here in the UAE that we build this as an infrastructure project like bridges or tunnels and provide it to the people, and they loved it. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We also started another company called RoadtoSpace to develop space capabilities.<\/strong> We organize space camps for Emiratis. Last year we teamed up with Khalifa University and University of Arizona to send 14 Emirati students to a space camp, where they had a lot of seminars and hands-on experiences. We\u2019ll do this every year, and we\u2019re also arranging for a program where a spacecraft will be jointly built by students from the UoA and UAE, and later launched into lunar orbit to search for traces of water. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I've been doing business since I was 15 years old<\/strong>, and I understand the value of human capital. A startup focused on space will have a very big capital spend, because you need smart people, and smart people cost a lot of money. We have a space act agreement with NASA that allows us to work with their scientists. We have a very similar agreement with the University of Arizona. This way, I don't have to hire them directly, and I can ask them to work on different projects while allowing me to keep a relatively small team. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Next year, the goal is to have 30 or 35 people working at the Dubai R&D Center<\/strong>, and 200 people working in the Kezad facility. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>My morning routine comes naturally everyday<\/strong> \u2014 I try to live in the present, even though I still have to plan for everything. All I do is try to maximize what I can out of each day. If I can do something today, I will do it today \u2014 I'm not going to plan to do it tomorrow. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>When we are young, we have more time to do whatever we want, but we don't really appreciate that free time. <\/strong>As we get older, we have less time and we cherish those little moments when we do have it. Right now, I'm at a point of my life where I simply don't have free time. I used to do judo and then got injured, and I really enjoy reading, but I barely have any time to read.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But I\u2019m a firm believer that if you love what you do, you don't work a day in your life.<\/strong> The key thing for me is to surround myself with people I like. I don't do anything with people I don't know or I don\u2019t have a connection with. I always choose friendship first, then business. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I'm a very sentimental guy.<\/strong> When I watch movies, I cry. My favorite is The Notebook \u2014 a classic but also a very human story. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s the best advice I\u2019ve received? <\/strong>I'm like a sponge. When I'm next to people, it doesn't have to be a big name or whatever \u2014 to me, everybody has a message. And for me, a lot of times, I\u2019m looking for an answer, and then all of a sudden the bus passes by or someone talking on their phone passes by and then it clicks. So I think being alert in life and being open to ideas and suggestions is the most important thing for me. <\/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\/my-morning-routine\/\">MY MORNING ROUTINE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/space\/\">space<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/startup\/\">startup<\/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=\"99035\" 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\/20\/99035-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99035\" class=\"content-area-description single-story post-99035 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>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>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>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 style=\"font-weight:400;\">19-22 December (Thursday-Sunday): Rise Investment Festival for Young Entrepreneurs (RICH), Dubai.<\/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<\/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>1 January (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.mohre.gov.ae\/en\/media-centre\/news\/16\/12\/2024\/mohre-launches-competitively-priced-health-insurance-package-for-private-sector-employees-and-domestic-workers-across-the-uae.aspx\" style=\"\">Health ins.<\/a><\/span><span style=\"font-weight:400;\"> to become mandatory for employees across the UAE. <\/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): 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 (Monday-Wednesday): <\/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 (Wednesday-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;\"> (Acres), 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<\/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:400;\">28-29 January (Tuesday-Wednesday): US Federal Reserve\u2019s Federal Open Market Committee meeting.<\/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 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=\"\">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:400;\">28 February-29 March (Friday-Saturday): Ramadan. <\/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;\">MARCH 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 March (Tuesday-Wednesday): US Federal Reserve\u2019s Federal Open Market Committee meeting.<\/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;\">31 March-2 April (Monday-Wednesday): Eid Al Fitr, national holiday.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">APRIL 2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6-11 April (Sunday-Friday): Geo-Spatial Week, 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 (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>21-25 April (Monday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/mediaoffice.ae\/en\/news\/2024\/december\/19-12\/dubai-ai-week\" style=\"\">The Dubai AI Week<\/a><\/span><span>, <\/span><span>Museum of the Future and Area 2071, Emirates Towers, Dubai. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>25 April-11 May (Friday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.dubaiesportsfestival.com\/en\/home\" style=\"\">Dubai Esports and Games Festival<\/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>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<\/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 style=\"font-weight:400;\">6-7 May (Tuesday-Wednesday): US Federal Reserve\u2019s Federal Open Market Committee meeting.<\/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<\/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:400;\">30 May (Friday): Arafat Day. <\/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;\">31 May-2 June (Saturday-Monday): Eid Al Adha. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE 2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">17-18 June (Tuesday-Wednesday): US Federal Reserve\u2019s Federal Open Market Committee meeting.<\/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 June (Friday): Islamic New Year.<\/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 2H 2025:<\/span><\/p>\n<ul>\n<li><span>Closing of XRG's acquisition of Covestro<\/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;\">JULY 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;\">29-30 July (Tuesday-Wednesday): US Federal Reserve\u2019s Federal Open Market Committee meeting.<\/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;\">16-17 September (Tuesday-Wednesday): US Federal Reserve\u2019s Federal Open Market Committee meeting.<\/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>3-16 October (Friday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.visitdubai.com\/en\/whats-on\/dhf\" style=\"\">Dubai Home 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: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:400;\">28-29 October (Tuesday-Wednesday): US Federal Reserve\u2019s Federal Open Market Committee meeting.<\/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;\">DECEMBER 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;\">1-3 December (Monday-Wednesday): Eid Al Etihad (UAE National Day).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">9-10 December (Tuesday-Wednesday): US Federal Reserve\u2019s Federal Open Market Committee meeting.<\/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>Modon acquires La Zagaleta | DP World issues first blue bond in MENA | ADX, Shanghai bourse link up via ETFs<\/p>\n","protected":false},"featured_media":99008,"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-99007","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"ce598385-6dcb-44fb-a4bc-bafcb35289da","teaser":"Modon acquires La Zagaleta | DP World issues first blue bond in MENA | ADX, Shanghai bourse link up via ETFs","photo_url":"https:\/\/ent.news\/2024\/8\/2189.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>Adnoc\u2019s XRG snaps up Covestro after securing shareholder approval - 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\/adnocs-xrg-snaps-up-covestro-after-securing-shareholder-approval\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Adnoc\u2019s XRG snaps up Covestro after securing shareholder approval\" \/>\n<meta property=\"og:description\" content=\"Modon acquires La Zagaleta | DP World issues first blue bond in MENA | ADX, Shanghai bourse link up via ETFs\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/uae\/issues\/adnocs-xrg-snaps-up-covestro-after-securing-shareholder-approval\/\" \/>\n<meta property=\"og:site_name\" content=\"UAE\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T02:22:48+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2189.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\/adnocs-xrg-snaps-up-covestro-after-securing-shareholder-approval\/\",\"url\":\"https:\/\/enterpriseam.com\/uae\/issues\/adnocs-xrg-snaps-up-covestro-after-securing-shareholder-approval\/\",\"name\":\"Adnoc\u2019s XRG snaps up Covestro after securing shareholder approval - UAE\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/issues\/adnocs-xrg-snaps-up-covestro-after-securing-shareholder-approval\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/issues\/adnocs-xrg-snaps-up-covestro-after-securing-shareholder-approval\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2189.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-12-20T00:00:00+00:00\",\"dateModified\":\"2025-12-15T02:22:48+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/issues\/adnocs-xrg-snaps-up-covestro-after-securing-shareholder-approval\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/uae\/issues\/adnocs-xrg-snaps-up-covestro-after-securing-shareholder-approval\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/issues\/adnocs-xrg-snaps-up-covestro-after-securing-shareholder-approval\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2189.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2189.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/issues\/adnocs-xrg-snaps-up-covestro-after-securing-shareholder-approval\/#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\":\"Adnoc\u2019s XRG snaps up Covestro after securing shareholder approval\"}]},{\"@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":"Adnoc\u2019s XRG snaps up Covestro after securing shareholder approval - 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\/adnocs-xrg-snaps-up-covestro-after-securing-shareholder-approval\/","og_locale":"en_US","og_type":"article","og_title":"Adnoc\u2019s XRG snaps up Covestro after securing shareholder approval","og_description":"Modon acquires La Zagaleta | DP World issues first blue bond in MENA | ADX, Shanghai bourse link up via ETFs","og_url":"https:\/\/enterpriseam.com\/uae\/issues\/adnocs-xrg-snaps-up-covestro-after-securing-shareholder-approval\/","og_site_name":"UAE","article_modified_time":"2025-12-15T02:22:48+00:00","twitter_card":"summary_large_image","twitter_image":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2189.jpg?fit=%2C&ssl=1","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/uae\/issues\/adnocs-xrg-snaps-up-covestro-after-securing-shareholder-approval\/","url":"https:\/\/enterpriseam.com\/uae\/issues\/adnocs-xrg-snaps-up-covestro-after-securing-shareholder-approval\/","name":"Adnoc\u2019s XRG snaps up Covestro after securing shareholder approval - UAE","isPartOf":{"@id":"https:\/\/enterpriseam.com\/uae\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/uae\/issues\/adnocs-xrg-snaps-up-covestro-after-securing-shareholder-approval\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/issues\/adnocs-xrg-snaps-up-covestro-after-securing-shareholder-approval\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2189.jpg?fit=%2C&ssl=1","datePublished":"2024-12-20T00:00:00+00:00","dateModified":"2025-12-15T02:22:48+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/uae\/issues\/adnocs-xrg-snaps-up-covestro-after-securing-shareholder-approval\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/uae\/issues\/adnocs-xrg-snaps-up-covestro-after-securing-shareholder-approval\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/uae\/issues\/adnocs-xrg-snaps-up-covestro-after-securing-shareholder-approval\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2189.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2189.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/uae\/issues\/adnocs-xrg-snaps-up-covestro-after-securing-shareholder-approval\/#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":"Adnoc\u2019s XRG snaps up Covestro after securing shareholder approval"}]},{"@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\/99007","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\/99007\/revisions"}],"predecessor-version":[{"id":99055,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/issue\/99007\/revisions\/99055"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/media\/99008"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/media?parent=99007"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/categories?post=99007"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/tags?post=99007"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}