{"id":99100,"date":"2024-12-24T00:00:00","date_gmt":"2024-12-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?post_type=issue&#038;p=99100"},"modified":"2025-12-15T02:24:15","modified_gmt":"2025-12-15T02:24:15","slug":"imf-cbuae-update-growth-forecasts-for-2024-2025","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/uae\/issues\/imf-cbuae-update-growth-forecasts-for-2024-2025\/","title":{"rendered":"IMF, CBUAE update growth forecasts for 2024 + 2025"},"content":{"rendered":"<section id=\"99102\" 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=\"99102\">\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\/24\/this-morning-amea-power-eyes-desalination-green-hydrogen-projects-in-morocco-new-corporate-tax-compliance-exemptions-take-effect-next-year\/\">\r\n                            THIS MORNING: Amea Power eyes desalination, green hydrogen projects in Morocco + New corporate tax compliance exemptions take effect next year                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1900.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"99103\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/24\/this-morning-amea-power-eyes-desalination-green-hydrogen-projects-in-morocco-new-corporate-tax-compliance-exemptions-take-effect-next-year\/1900-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1900.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1900.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1900.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1900.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99102\" class=\"content-area-description single-story post-99102 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-amea-power tag-corporate-tax tag-diplomacy tag-enterpriseam-uae tag-real-estate tag-renewables tag-trade 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\/.66bb2460-480a-477c-81f7-86caa0dc35c7.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 a very Merry Christmas (eve) to everyone celebrating. <\/strong>If you\u2019re anything like us, you\u2019re already in holiday mode \u2014 but the news cycle has yet to fully die down. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s end-of-year report season<\/strong> \u2014 which means we have not one, but two reports for you to dig your teeth into this morning. <strong>The IMF has upgraded some of its forecasts for the UAE<\/strong> and the GCC for next year, while <strong>the Central Bank of the UAE published its quarterly forecast<\/strong>, dialing back some of its expectations next year due to the extension of oil supply cuts. <\/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\">\u26c5<strong>WEATHER- Expect more windy conditions today: <\/strong>Partly cloudy conditions are expected to persist across the country through Thursday, accompanied by blowing winds and dust and a chance of rainfall, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/14a7oup-unstable-weather-conditions-expected-across-uae\" style=\"\" rel=\"noopener\">Wam<\/a> reports, citing the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/2120.pdf\" style=\"\" rel=\"noopener\">National Center of Meteorology<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/2120.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. Dubai will see the mercury hit 26\u00b0C, with an overnight low of 20\u00b0C, while temperatures will hit 22\u00b0C in Abu Dhabi, with an overnight low of 20\u00b0C.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s a money story in the Gulf. <\/strong>Take one look at the news, and you\u2019ll see headlines about Saudi Arabia\u2019s rapidly changing economy, Qatar\u2019s investment in mass infrastructure, and the UAE\u2019s transformation into a global tech hub. The geopolitical tectonic plates are shifting. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">To stay up to date on the business happening in the Gulf that is impacting the world around you, <strong><a target=\"_blank\" href=\"https:\/\/www.semafor.com\/newsletters\/gulf?utm_medium=swap&utm_source=swaps&utm_campaign=enterpriseam2\" style=\"\" rel=\"noopener\">check out our friends at Semafor Gulf<\/a><\/strong><strong>.<\/strong> Each issue uncovers the economic forces shaping the region \u2014 and the world. <a target=\"_blank\" href=\"https:\/\/www.semafor.com\/newsletters\/gulf?utm_medium=swap&utm_source=swaps&utm_campaign=enterpriseam2\" style=\"\" rel=\"noopener\">Subscribe without charge<\/a>.<\/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- Schon Properties\u2019 mixed-use development Dubai Lagoon was officially marke<\/strong><strong>d <\/strong><strong>\u2018under cancellation\u2019<\/strong>, after being listed as \u2018cancelled\u2019 earlier this month, <a target=\"_blank\" href=\"https:\/\/www.khaleejtimes.com\/business\/realty\/dubai-residents-investors-in-shock-as-real-estate-project-marked-under-cancellation-after-19-yea\" style=\"\" rel=\"noopener\">Khaleej Times<\/a> reports. This means that the development\u2019s 53 buildings and over 4.1k units may no longer be viable for completion.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>Launched in 2005, Dubai Lagoon's first phase of construction was initially set for completion by September 2007, with handover scheduled for 2008. However, financial difficulties, stakeholder disputes, and delays compounded by the 2008 financial crisis halted construction for over a decade, with many buildings remaining incomplete to date. Schon handed the Lagoon\u2019s Lily Zone project to Xanadu Real Estate Development in 2017 following the Dubai Land Department\u2019s interference, but promises of completion went unmet. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some hundreds of buyers who invested in the property between 2005 and 2008 are still <\/strong><strong>awaiting clarity on refunds<\/strong>, with legal uncertainties over the project\u2019s status continuing to complicate the refund process and potential project transfers, the news outlet reports. The situation is worse for secondary buyers and those transferred from other stalled projects, who face additional challenges due to missing SPAs and Oqood registrations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#2- Amea Power is looking at venturing into desalination and green hydrogen <\/strong><strong>projects in Morocco<\/strong>, lining up plans to invest at least USD 100 mn in a desalination project through Spain\u2019s Cox, a water and energy solutions firm in which the Emirati company <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/75491928-87b4-4d6d-89a9-ad3ade577d01\/%253cmark%253eamea%253c%2Fmark%253e%253cmark%253e-power%253c%2Fmark%253e-to-invest-in-upcoming%253cmark%253e-cox%253c%2Fmark%253e-ipo\" style=\"\" rel=\"noopener\">acquired a stake<\/a> during its recent IPO, AMEA Chairman Hussain Al Nowais told Asharq Business (<a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/financing-and-investment\/64772\/%D8%A5%D9%8A%D9%85%D9%8A%D8%A7-%D8%A8%D8%A7%D9%88%D8%B1-%D8%AA%D8%AA%D8%B7%D9%84%D8%B9-%D9%84%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-%D8%A8%D8%AA%D8%AD%D9%84%D9%8A%D8%A9-%D8%A7%D9%84%D9%85%D9%8A%D8%A7%D9%87-%D9%88%D8%A7%D9%84%D9%87%D9%8A%D8%AF%D8%B1%D9%88%D8%AC%D9%8A%D9%86-%D8%A8%D8%A7%D9%84%D9%85%D8%BA%D8%B1%D8%A8\/\" style=\"\" rel=\"noopener\">watch, runtime: 2:30<\/a>). The company is also in the early stages of exploring a green hydrogen production project with a potential capacity of up to 1 GW in southern Morocco. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The move expands the company\u2019s current portfolio in Morocco<\/strong>, which includes four renewable energy projects with a total capacity of more than 200 MW.<\/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- Economy Minister Abdulla Bin Touq Al Marri called on Japan to expedite<\/strong> <strong>negotiations on trade and economic agreement talks<\/strong> that were initiated in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/188669b2-447b-4548-99e6-b2eb92105e47\/this-morning:-president-set-to-make-first-us-visit-next-week-%2B-private-firms-will-soon-need-to-have-at-least-one-woman-on-bod\" style=\"\" rel=\"noopener\">September<\/a> in an interview with <a target=\"_blank\" href=\"https:\/\/asia.nikkei.com\/Editor-s-Picks\/Interview\/UAE-urges-Japan-to-accelerate-discussions-on-trade-agreement\" style=\"\" rel=\"noopener\">Nikkei Asia<\/a>. He emphasized that the UAE can serve as a strategic hub for Japan, facilitating access to investments in the Middle East and Africa.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Dubai Court upholds decision in Hosana-RSM dispute:<\/strong> The Dubai Court of Appeals rejected an appeal from India\u2019s Honasa Consumer General Trading \u2014 which owns Indian hair and skincare brand <a target=\"_blank\" href=\"https:\/\/mamaearth.in\/\" style=\"\" rel=\"noopener\">Mamaearth<\/a> \u2014 to suspend attachment proceedings on its assets in the UAE, and a separate appeal from RSM General Trading cancel Honasa's trading license, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/2057.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a> on India\u2019s National Stock Exchange. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>RSM filed a lawsuit against Honasa in Dubai earlier this year alleging unlawful termination of its distributorship agreement. In June 2024, the Dubai Appeal Court approved RSM\u2019s request to attach Honoasa\u2019s UAE assets but rejected its plea to terminate Honasa\u2019s trading license. It also upheld the same decision in <a target=\"_blank\" href=\"https:\/\/www.moneycontrol.com\/news\/business\/markets\/honasa-consumer-shares-fall-nearly-5-as-dubai-court-upholds-asset-attachment-order-in-uae-12835502.html\" style=\"\" rel=\"noopener\">October 202<\/a><a target=\"_blank\" href=\"https:\/\/www.moneycontrol.com\/news\/business\/markets\/honasa-consumer-shares-fall-nearly-5-as-dubai-court-upholds-asset-attachment-order-in-uae-12835502.html\" style=\"\" rel=\"noopener\">4<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next?<\/strong>   Honasa said that the suspension has \u201cno material financial impact\u201d on the company, as it holds no assets in the UAE. Still, the Indian company has appealed the Dubai Court\u2019s original judgment to the Cassation Court, meaning execution proceedings in the UAE will remain on hold until the Cassation Court delivers its ruling.<\/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>#5- Dubai is getting a crisis management center:<\/strong> Prime Minister Sheikh Mohammed bin Rashid Al Maktoum launched a Dubai Resilience Center to support crisis management in the emirate, according to the <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2024\/december\/23-12\/mohammed-bin-rashid-issues-decree-establishing-the-dubai-resilience-centre\" style=\"\" rel=\"noopener\">Dubai Media Office<\/a>. The center aims to strengthen Dubai\u2019s disaster management capabilities, coordinate joint efforts to address emergencies, and develop and implement preventive and recovery measures. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s the mandate?<\/strong> Its tasks include developing crisis resilience plans, policies, and frameworks and measuring and reporting progress on approved plans. The center will also manage a central operations platform, collect and analyze data to support studies, and propose awareness initiatives. <\/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>Some 67% of UAE companies hosted their core business processes <\/strong><strong>on the cloud this year<\/strong>, while another 22% plan to do so within 15 months, <a target=\"_blank\" href=\"https:\/\/www.tradearabia.com\/touch\/article\/IT\/429558\" style=\"\" rel=\"noopener\">Trade Arabia<\/a> cites a YouGov survey commissioned by SAP as saying. Meanwhile, AI adoption was pervasive among companies, with 42% using it for marketing and communications, 40% for customer service, and 38% for sales and finance. <\/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>Companies who had their licenses issued in December must apply for corporate tax<\/strong><strong> by Tuesday, 31 December <\/strong>through <a target=\"_blank\" href=\"https:\/\/eservices.tax.gov.ae\/#\/Logon\" style=\"\" rel=\"noopener\">EmaraTax<\/a>, state news agency <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b6u4xp1-fta-renews-its-calls-for-resident-juridical\" style=\"\" rel=\"noopener\">Wam<\/a> cites the Federal Tax Authority (FTA) as saying. Failure to register on time may result in administrative penalties.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SPEAKING OF CORPORATE TAX- The Finance Ministry issued amendment<\/strong><strong>s to its corporate tax legislation<\/strong> exempting anyone who is subject to foreign tax credit from the requirement to calculate taxable income, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b6u4y3e-mof-announces-amendments-ministerial-decisions-tax\" style=\"\" rel=\"noopener\">Wam<\/a> reported separately. The amendments also exempt businesses that benefit from qualifying group or business restructuring relief from double taxation, and clarify adjustments to tax losses incurred by shareholders from within or outside a taxable firm. The new amendments take effect for tax periods beginning on or after 1 January 2025. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re well into the Christmas news slowdown<\/strong> with little capturing the attention of the foreign pages this morning. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN THE US- Ex-congressman is facing sexual misconduct allegations: <\/strong>Former Florida Congressman Matt Gaetz reportedly spent tens of thousands on activities including sex and drugs, according to a <a target=\"_blank\" href=\"https:\/\/ethics.house.gov\/wp-content\/uploads\/2024\/12\/Committee-Report.pdf\" style=\"\" rel=\"noopener\">report<\/a> prepared by the House Ethics Committee. The committee also found evidence Gaetz violated Florida\u2019s statutory rape laws. Gaetz, who resigned last month after being tapped as attorney general by president-elect Donald Trump, denied the allegations but admitted to having \u201cpartied and womanized\u201d earlier in life. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/us-house-report-finds-matt-gaetz-violated-law-with-sexual-misconduct-drug-use-2024-12-23\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/0ccd5910-113e-4b42-88e3-7eb8cdd8e23a\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/live\/cj49ynwen8nt\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/politics\/2024\/12\/23\/matt-gaetz-ethics-report\/\" style=\"\" rel=\"noopener\">Washington Post<\/a> | <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/12\/23\/politics\/matt-gaetz-house-ethics-report\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/matt-gaetz-congress-ethics-report-538cb5387bf95925245bf87fa6b1adcb\" style=\"\" rel=\"noopener\">AP<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CLOSER TO HOME- Saudi Arabia halts BRICS membership? <\/strong>The Kremlin has reportedly announced that Saudi Arabia has frozen its full membership in the BRICS group, <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/economics\/64841\/%D8%A5%D9%86%D8%AA%D8%B1%D9%81%D8%A7%D9%83%D8%B3-%D8%A7%D9%84%D9%83%D8%B1%D9%85%D9%84%D9%8A%D9%86-%D9%8A%D8%B9%D9%84%D9%86-%D8%AA%D8%AC%D9%85%D9%8A%D8%AF-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%A7%D9%86%D8%B6%D9%85%D8%A7%D9%85%D9%87%D8%A7-%D8%A5%D9%84%D9%89-%D8%A8%D8%B1%D9%8A%D9%83%D8%B3\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports citing Russian news agency Interfax. The Kingdom was invited to join the alliance over a year ago but has yet to formalise its membership.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">***<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>You\u2019re reading EnterpriseAM UAE<\/strong>, your essential daily roundup of business, economics, and must-read news about the UAE, delivered straight to your inbox. We\u2019re out Monday through Friday by 7am UAE time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM UAE is available without charge <\/strong>thanks to the generous support of our friends at Mashreq.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of EnterpriseAM UAE. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to send us a story idea, request coverage, ask for a correction, or otherwise get in touch? <\/strong>Reach out to us on  <a target=\"_blank\" href=\"mailto:UAE@enterpriseAM.com\" style=\"\" rel=\"noopener\">UAE@enterpriseAM.com<\/a> .<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DID YOU KNOW that we also cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\" style=\"\" rel=\"noopener\">Egypt<\/a><\/strong><strong>, <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong>,<\/strong> and the MENA <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\" style=\"\" rel=\"noopener\">climate<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\" style=\"\" rel=\"noopener\">logistics<\/a> industries?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">***<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> CIRCLE YOUR CALENDAR- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/arabplast.info\/\" style=\"\" rel=\"noopener\">Arab Plast I<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/arabplast.info\/\" style=\"\" rel=\"noopener\">nternational Trade Fair for Plastics, Recycling, Petrochemicals,<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/arabplast.info\/\" style=\"\" rel=\"noopener\">Packaging and Rubber Industry<\/a><\/strong><strong> will take place between 7-9 January<\/strong> at the Dubai International Convention and Exhibition Center. The event will showcase advancements in the plastics and recycling sectors, with a focus on sustainable practices, circular economy, recycling technologies, and sustainable materials. The event will include networking prospects for professionals, live demonstrations of technologies and machinery, and discussions on future developments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.irena.org\/Events\/2025\/Jan\/Fifteenth-Session-of-the-IRENA-Assembly\" style=\"\" rel=\"noopener\">Internationa<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.irena.org\/Events\/2025\/Jan\/Fifteenth-Session-of-the-IRENA-Assembly\" style=\"\" rel=\"noopener\">l Renewable Energy Agency (IRENA) Assembly<\/a><\/strong><strong> will take place betwe<\/strong><strong>en <\/strong><strong>11-13 January<\/strong> in Abu Dhabi. The event will gather global leaders and decision-makers to discuss the renewable energy transition and address challenges to energy security and financing. Featured in the agenda: An <a target=\"_blank\" href=\"https:\/\/www.irena.org\/Events\/2025\/Jan\/The-New-Generation-of-Decision-Makers-IRENA-Youth-Forum-at-the-15th-IRENA-Assembly\" style=\"\" rel=\"noopener\">Internation<\/a><a target=\"_blank\" href=\"https:\/\/www.irena.org\/Events\/2025\/Jan\/The-New-Generation-of-Decision-Makers-IRENA-Youth-Forum-at-the-15th-IRENA-Assembly\" style=\"\" rel=\"noopener\">al Renewable Energy Agency Youth Forum<\/a>, which will see interactive sessions, open dialogues, and thematic workshops for youth to contribute to renewable energy deployment and sustainable development.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.1billionsummit.com\/\" style=\"\" rel=\"noopener\">The 1 Bn Follower<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.1billionsummit.com\/\" style=\"\" rel=\"noopener\">s Summit<\/a><\/strong><strong> will take place between 11-13 January<\/strong> at Jumerirah Emirates Towers at the DIFC in Dubai. The event will feature over 250 speakers, including top content creators and industry experts. It includes workshops and discussions on technology, content strategies, and the economic impact of content creation. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/globalgovernmentcloudforum.com\/\" style=\"\" rel=\"noopener\">Global G<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/globalgovernmentcloudforum.com\/\" style=\"\" rel=\"noopener\">overnment Cloud Forum<\/a><\/strong><strong> will take place on 21 January<\/strong> at the Museum of the Future in Dubai. The forum will gather international government officials, global speakers, and leaders in government cloud technology, and will address topics such as AI, IoT, quantum computing, and sustainable cloud solutions, among others.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/amea-power\/\">AMEA Power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/corporate-tax\/\">corporate tax<\/a>\n                <!-- <span 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                  <\/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=\"99105\" 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=\"99105\">\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\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/24\/imf-sees-oil-gdp-growing-6-7-next-year-non-oil-growth-to-come-in-at-4-5\/\">\r\n                            IMF sees oil GDP growing 6.7% next year, non-oil growth to come in at 4.5%                        <\/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\/24\/imf-sees-oil-gdp-growing-6-7-next-year-non-oil-growth-to-come-in-at-4-5\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"99106\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/24\/imf-sees-oil-gdp-growing-6-7-next-year-non-oil-growth-to-come-in-at-4-5\/761-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/761.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"761.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/761.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/761.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99105\" class=\"content-area-description single-story post-99105 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam-uae tag-gdp tag-imf tag-inflation wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.2f246b6f-2e4d-4194-8d0b-ed4bfdd4ffae.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The International Monetary Fund (IMF) expects the UAE\u2019s hydrocarbon <\/strong><strong>sector to grow 6.7% next year<\/strong>, up from just 0.3% growth this year on the back of Opec+\u2019s oil production cuts, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/2030.pdf\" style=\"\" rel=\"noopener\">GCC Economic Prospects report (pdf)<\/a>. This comes as the oil cartel plans to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/a0a751a7-5133-419f-8caa-13e422350794\/this-morning:-mair-group-sets-reference-price-for-adx-listing-%2B-could-redbird-still-hold-onto-the-telegraph%3F\" style=\"\" rel=\"noopener\">unwind oil production cuts<\/a> as of 2Q 2025, with the UAE also given a higher quota to increase production by 300k bbl \/ d gradually from April 2025. <strong>The IMF sees non-oil growth coming in at 5.3% this year and slowing slightly to 4.5% next year<\/strong>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, the Fund sees overall GDP growing at 4% this year<\/strong>, reverting to its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/7418ca58-7f3f-4936-8ee3-78c6bb2e04dc\/the%253cmark%253e-imf%253c%2Fmark%253e-downgrades-growth-projection-for-the-uae-in-2024,-but-remains-upbeat\" style=\"\" rel=\"noopener\">initial<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/7418ca58-7f3f-4936-8ee3-78c6bb2e04dc\/the%253cmark%253e-imf%253c%2Fmark%253e-downgrades-growth-projection-for-the-uae-in-2024,-but-remains-upbeat\" style=\"\" rel=\"noopener\">forecast<\/a> after revising it downwards to 3.7% in its latest Article IV consultation report. The Fund also revised upwards its forecast for next year to 5.1%, up from 5% earlier. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It maintained its headline inflation forecast for this year at 2.3%<\/strong>, and for next year at 2.1%, as well as its forecast for an 8.8% current account surplus. <\/p>\n<p class=\"tag-border-left\"> THE REGIONAL PICTURE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GCC economies are also set to benefit from the dual momentum of oil sec<\/strong><strong>tor recovery <\/strong><strong>and strong non-oil sector growth<\/strong>, according to the report. Real GDP for the region is projected to rebound by 1.4% this year, from 0.8% growth in 2023, expanding further to 3.5% in 2025 and 4.2% in 2026. The medium-term outlook remains favorable, with non-oil sector growth underpinned by reform implementation and diversification efforts. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The fiscal stance is expected to tighten over the medium term for all GCC co<\/strong><strong>untries<\/strong>, while public debt is projected to remain \u201cmoderate and stable\u201d in most of the region over the next four years. The IMF recommends additional fiscal consolidation, while focusing on non-hydrocarbon revenue mobilization such as boosting tax revenue, rationalizing the public wage bill, and continuing subsidy reforms. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The IMF stresses the need to set fiscal anchors and operational rules<\/strong><strong> in the region<\/strong> through frameworks and risk statements to avoid excessive deficits and unsustainable debt. On the other hand, monetary policy transmission in the GCC needs to improve through liquidity management frameworks and by deepening domestic financial markets through local currency sovereign debt issuances, as well as green bond and sukuk issuances.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/economy\/\">Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"99107\" 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=\"99107\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/24\/cbuae-maintains-2024-growth-forecast-dials-back-2025-growth-expectations-on-extension-of-oil-supply-cuts\/\">\r\n                            CBUAE maintains 2024 growth forecast, dials back 2025 growth expectations on extension of oil supply cuts                        <\/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\/24\/cbuae-maintains-2024-growth-forecast-dials-back-2025-growth-expectations-on-extension-of-oil-supply-cuts\/\" target=\"_blank\">\n                    Open in new tab                  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cuts\">\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=CBUAE+maintains+2024+growth+forecast%2C+dials+back+2025+growth+expectations+on+extension+of+oil+supply+cuts+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F12%2F24%2Fcbuae-maintains-2024-growth-forecast-dials-back-2025-growth-expectations-on-extension-of-oil-supply-cuts%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\/24\/cbuae-maintains-2024-growth-forecast-dials-back-2025-growth-expectations-on-extension-of-oil-supply-cuts\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1532.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"99108\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/24\/cbuae-maintains-2024-growth-forecast-dials-back-2025-growth-expectations-on-extension-of-oil-supply-cuts\/1532-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1532.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1532.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1532.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1532.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99107\" class=\"content-area-description single-story post-99107 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-central-bank-of-the-uae tag-economy tag-enterpriseam-uae tag-gdp tag-inflation wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.e8af2c83-3bf9-4934-a2f6-61548f96487f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Central Bank of the UAE (CBUAE) maintained its gr<\/strong><strong>owth outlook for 2024 at <\/strong><strong>4%<\/strong> on the back of strong performance in the tourism, transportation, financial and ins. services, and construction and real estate sectors, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/2114.pdf\" style=\"\" rel=\"noopener\">Quarterly Economic Review (pdf)<\/a>, unchanged from its expectations in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/b2c1efb8-c13c-4533-afd4-ee84f69d0c0c\/cbuae-revises-growth-outlook-for-the-year-up-to-4%2525\" style=\"\" rel=\"noopener\">September<\/a>. Current levels of oil production are expected to \u201cpartially moderate\u201d overall growth for the year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The central bank dialed back its forecast for growth in 2025 to 4.5%<\/strong>, compared to its 6% projection in September, on the back of Opec+\u2019s decision to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/edition\/am\/846e5a1d-752f-40f1-832e-aa02af73fd3a\/mubadala-acquires-silver-rock,-zelis-%25e2%2580%2594-and-welcomes-new-shareholders\" style=\"\" rel=\"noopener\">extend production cuts<\/a> into 1Q 2025. It also projected growth to accelerate to 5.5% in 2026 due to the base effects of hydrocarbon GDP.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The central bank also revised downwards its forecast for non-oil sector growth to 4.9% this year<\/strong>, down from its earlier 5.2% projection, and next year\u2019s forecast to 5%, compared to its previous 5.3% forecast. It expects \u201crobust but slightly lower\u201d sector growth from 2026 to 2028, amounting to 4.8% in 2026, 4.6% in 2027, and 4.5% in 2028.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong>oil<\/strong><strong> sector is predicted to grow by 1.3% in 2024<\/strong>, up from the previous 0.7% projection, with a 3.2% increase in gas and non-oil fuels and a 0.6% decline in oil output. It also downgraded its forecast for 2025 to 2.9%, compared to its previous 7.7% projection \u2014 though it sees the sector rebounding to 7.6% growth the following year, 5.5% growth in 2027, and 4.2% growth in 2028.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The CBUAE lowered its inflation forecast for 2024 to 1.8%<\/strong>, down from its previous projections of 2.2% in September. It expects inflation to come in at 2% next year, driven by non-tradeable components of the consumer basket, while partially offset by moderating energy prices. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How the CBUAE\u2019s expectations compare:<\/strong> The World Bank <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/e4cd7746-d813-4fe9-98a6-b202cfe11172\/%253cmark%253eworld%253c%2Fmark%253e%253cmark%253e-bank%253c%2Fmark%253e-maintains-growth-forecast-for-the-uae-this-year-and-in-2025\" style=\"\" rel=\"noopener\">expects<\/a> the UAE\u2019s growth to come in at 3.3% in 2024, and 4.1% in 2025 and 2026. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/central-bank-of-the-uae\/\">Central Bank of the UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/economy\/\">Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"99109 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=\"99109\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/24\/99109-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99109\" class=\"content-area-description single-story post-99109 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.mashreq.com\/en\/uae\/about-us\/sustainability\/climb2change\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1254.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"99110\" 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=\"99110\">\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\">BUDGET WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/24\/sharjah-approves-historic-aed-42-bn-budget-for-2025\/\">\r\n                            Sharjah approves historic AED 42 bn budget for 2025                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/24\/sharjah-approves-historic-aed-42-bn-budget-for-2025\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/uae\/2024\/12\/24\/sharjah-approves-historic-aed-42-bn-budget-for-2025\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/uae\/2024\/12\/24\/sharjah-approves-historic-aed-42-bn-budget-for-2025\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Sharjah approves historic AED 42 bn budget for 2025&url=https:\/\/enterpriseam.com\/uae\/2024\/12\/24\/sharjah-approves-historic-aed-42-bn-budget-for-2025\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/uae\/2024\/12\/24\/sharjah-approves-historic-aed-42-bn-budget-for-2025\/&title=Sharjah approves historic AED 42 bn budget for 2025\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Sharjah+approves+historic+AED+42+bn+budget+for+2025+https%3A%2F%2Fenterpriseam.com%2Fuae%2F2024%2F12%2F24%2Fsharjah-approves-historic-aed-42-bn-budget-for-2025%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/24\/sharjah-approves-historic-aed-42-bn-budget-for-2025\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2504.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"99111\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/24\/sharjah-approves-historic-aed-42-bn-budget-for-2025\/2504-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2504.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2504.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2504.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2504.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99110\" class=\"content-area-description single-story post-99110 post type-post status-publish format-standard has-post-thumbnail hentry category-budget-watch tag-budget-watch tag-economy tag-enterpriseam-uae tag-infrastructure tag-sharjah 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\/.ec399f07-e21a-4c16-bf73-8ba054924255.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Sharjah gov't approves largest budget in its history: <\/strong>Sheikh Sultan bin Mohammed Al Qasimi greenlit Sharjah's largest budget to date for next year, coming in at AED 42 bn, and marking a 2% increase in expenditures compared to the previous year, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b6u4xrx-sharjah-ruler-approves-largest-budget-emirates\" style=\"\" rel=\"noopener\">Wam<\/a> reports. This follows the Sharjah Consultative Council\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/5b561654-09c3-4caf-91db-777ce8ebba94\/this-morning:-adia%25e2%2580%2599s-acquisition-of-malaysia-airports-deemed-reasonable-%2B-new-year%25e2%2580%2599s-day-off-for-public,-private-sector\" style=\"\" rel=\"noopener\">approval<\/a> of the draft budget for 2025 in yesterday\u2019s session. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown:<\/strong> The new budget allocates 27% to salaries and wages and 23% to operational expenses, while 20% is dedicated to capital projects, ensuring ongoing investment in infrastructure. Debt repayment and interest obligations account for 16% of the budget, marking a 2% rise from 2024. Support and aid allocations represent 12%, with capital expenditures at 2%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By sector, the infrastructure sector receives the largest share at 41%, <\/strong>a 7% increase from 2024. The economic development sector is allocated 27%, and the social development sector maintains its share at 22%, ensuring essential services for residents. The government administration, security, and safety sector accounts for 10%, reflecting an 8% increase.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the revenue side, <\/strong>the budget anticipates an 8% increase in general revenues compared to 2024. Operating revenues will constitute 74% of total revenues, with a notable 16% growth. Tax revenues are projected to grow by 15%, while customs revenues remain steady at 4%. Oil and gas revenues will account for 2% of total revenues for 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context:<\/strong> The Federal National Council approved the UAE's largest national budget to date in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/b98258ac-1eee-4b07-926c-f6ee18144d97\/fnc-approves-bumper-federal%253cmark%253e-budget%253c%2Fmark%253e-for-2025\" style=\"\" rel=\"noopener\">November<\/a>, totaling AED 71.5 bn for both revenues and expenditures, while also integrating the Union General budget with the budgets of independent federal entities for the year 2025.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/budget-watch\/\">BUDGET WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/economy\/\">Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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\/sharjah\/\">Sharjah<\/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=\"99112\" 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=\"99112\">\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\">REAL ESTATE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/24\/commercial-property-market-expected-to-outperform-hong-kongs-as-demand-for-office-space-rises-in-2025\/\">\r\n                            Commercial property market expected to outperform Hong Kong\u2019s as demand for office space rises in 2025                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/24\/commercial-property-market-expected-to-outperform-hong-kongs-as-demand-for-office-space-rises-in-2025\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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According to <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/real-estate\/64547\/%D8%A7%D9%86%D8%AA%D8%B9%D8%A7%D8%B4-%D9%85%D8%AA%D9%88%D9%82%D8%B9-%D9%84%D9%84%D8%B9%D9%82%D8%A7%D8%B1%D8%A7%D8%AA-%D8%A7%D9%84%D8%AA%D8%AC%D8%A7%D8%B1%D9%8A%D8%A9-%D8%A8%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D9%81%D9%8A-2025-%D8%B1%D8%BA%D9%85-%D8%A7%D9%84%D9%85%D8%AE%D8%A7%D8%B7%D8%B1\/\" style=\"\" rel=\"noopener\">Bloomberg Intelligence<\/a> \u2018s survey of over 600 business owners, 43% in the UAE plan to expand their office space. Meanwhile, in Hong Kong, landlords are expected to struggle to fill vacant spaces in 2H on the back of reduced commercial tenant demand.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown: <\/strong>In Abu Dhabi, 39% of employees reported that their employees have increased or plan to increase their working space. This figure sits even higher in neighboring Dubai, rising to 44%, with heightened demand in both emirates driven by a limited supply of high-quality, sustainable office spaces and attractive yields of 6% in Abu Dhabi and 5% in Dubai.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Demand for co-working spaces across the country also rose 14% y-o-y in 4Q 2024<\/strong>, compared to a 10% decline in demand in Hong Kong. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai leads the way in demand and office stock: <\/strong>Dubai is surpassing Abu Dhabi in both demand and supply of modern office spaces, boasting 7.9 mn sqm of high-quality office stock compared to Abu Dhabi\u2019s 3 mn sqm. Vacancy rates in the emirate dropped to 8% in 4Q 2024, down from 10% in 4Q 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Abu Dhabi saw its vacancy rate decline at a sharper pace: <\/strong>Abu Dhabi\u2019s office vacancy rates dropped by 10 percentage points y-o-y to 15% in 4Q 2024, down from 25% last year. This trend is supported by a higher proportion of office-based work in Abu Dhabi (27%) compared to Dubai (22%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More (luxury) office spaces on the horizon? <\/strong>Both emirates plan to introduce new luxury buildings to address the ageing office stock. The Dubai International Financial Center is set to add <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/38a63526-9f85-4c14-9758-499eecbf786f\/mashreq-gets-in-principle-approval-to-offer-islamic-banking-services-in-pakistan\" style=\"\" rel=\"noopener\">three office towers<\/a>, with plans to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ae7ecd15-e73f-48a2-aab9-6536397e8149\/this-morning:-adnoc-to-pull-the-trigger-on-covestro-takeover-this-week%3F-%2B-more-good-news-for-our-ai-ambitions\" style=\"\" rel=\"noopener\">unveil more expansion plans by late 2025<\/a>. Meanwhile, Abu Dhabi will increase the capacity of its financial free zone tenfold through its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/c86fb5c3-525f-4894-9473-3472daf12b5a\/adgm-revamps-property-regs,-introduces-digital-platform\" style=\"\" rel=\"noopener\">extension to Reem Island<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What are the risks? <\/strong>Bloomberg Intelligence identifies high interest rates and global economic uncertainties as potentially affecting strong office space demand, alongside an increase in remote work trends.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/abu-dhabi\/\">Abu Dhabi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/dubai\/\">Dubai<\/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=\"99114\" 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=\"99114\">\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\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/24\/bank-of-sharjah-names-sridhar-karlapudi-as-its-new-coo-intel-taps-taha-khalifa-as-general-manager-for-the-middle-east-and-africa\/\">\r\n                            Bank of Sharjah names Sridhar Karlapudi as its new COO + Intel taps Taha Khalifa as general manager for the Middle East and Africa                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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                     <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2189.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"99115\" data-permalink=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/24\/bank-of-sharjah-names-sridhar-karlapudi-as-its-new-coo-intel-taps-taha-khalifa-as-general-manager-for-the-middle-east-and-africa\/2189-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2189.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2189.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2189.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2189.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99114\" class=\"content-area-description single-story post-99114 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-bank-of-sharjah tag-enterpriseam-uae tag-intel 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\/.ccc49660-94a3-4c80-abe4-b19b25246f0a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bank of Sharjah<\/strong> appointed <strong>Sridhar Karlapudi <\/strong>(<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/sridhar-karlapudi-4b569b7?originalSubdomain=uk\" style=\"\" rel=\"noopener\">Linkedin<\/a>) as its new <strong>chief<\/strong><strong> operating officer<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/people-in-the-news\/bank-of-sharjah-appoints-new-chief-operating-officer-fauderps\" style=\"\" rel=\"noopener\">press release<\/a>. Karlapudi brings over 25 years of experience in the banking sector, having held leadership positions in various prominent financial institutions across India, the Middle East, and the United Kingdom. Prior to joining Bank of Sharjah, he served as COO at Ahli United Bank in the UK. His previous roles include positions at Citibank, Barclays, Mashreq, and Abu Dhabi Islamic Bank.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Intel<\/strong> named <strong>Taha Khalifa <\/strong>(<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/taha-khalifa-1530b52\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as <strong>general manager <\/strong><strong>for the Middle East and <\/strong><strong>Africa<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/ar\/%D8%A7%D9%84%D8%A8%D9%8A%D8%A7%D9%86%D8%A7%D8%AA-%D8%A7%D9%84%D8%B5%D8%AD%D9%81%D9%8A%D8%A9\/%D8%A8%D9%8A%D8%A7%D9%86%D8%A7%D8%AA-%D8%A7%D9%84%D8%B4%D8%B1%D9%83%D8%A7%D8%AA\/%D8%A5%D9%86%D8%AA%D9%84-%D8%AA%D8%B9%D9%8A%D9%91%D9%86-%D8%A7%D9%84%D9%85%D9%87%D9%86%D8%AF%D8%B3-%D8%B7%D9%87-%D8%AE%D9%84%D9%8A%D9%81%D8%A9-%D9%85%D8%AF%D9%8A%D8%B1%D8%A7%D9%8B-%D8%B9%D8%A7%D9%85%D8%A7%D9%8B-%D9%84%D9%85%D9%86%D8%B7%D9%82%D8%A9-%D8%A7%D9%84%D8%B4%D8%B1%D9%82-%D8%A7%D9%84%D8%A3%D9%88%D8%B3%D8%B7-%D9%88%D8%A3%D9%81%D8%B1%D9%8A%D9%82%D9%8A%D8%A7-wcnkcm73\" style=\"\" rel=\"noopener\">press release<\/a>. Khalifa has held various leadership roles at Intel over his 25-year stint with the company, including leading client computing group commercial sales for EMEA and the GCC.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/bank-of-sharjah\/\">Bank of Sharjah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/intel\/\">Intel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"99116\" 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=\"99116\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/24\/union-properties-breaks-ground-on-its-aed-2-bn-dubai-based-development\/\">\r\n                            Union Properties breaks ground on its AED 2 bn Dubai-based 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\/24\/union-properties-breaks-ground-on-its-aed-2-bn-dubai-based-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(); 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The development will house 788 residential units, including studios, one- to three-bedroom apartments, penthouses, townhouses, and a 500 m retail boulevard. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember- <\/strong>The project is slated for handover in 4Q 2027, with the company expecting to generate <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/677de249-4579-43e9-8dab-75868484b7d4\" style=\"\" rel=\"noopener\">AED 200 mn in net income<\/a> from the project starting in 2025. The company has two more AED 2 bn projects in the pipeline, with the second project consisting of four towers linked by a podium with 3% of retail space, and the third project still in the design and planning phase. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Debt settlement cleared the path for Motor City expansion:<\/strong> Earlier this year, Union Properties <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/fa6bce34-6587-4884-962e-4e7462ca4dae\/%253cmark%253eunion%253c%2Fmark%253e%253cmark%253e-properties%253c%2Fmark%253e-reaches-aed-1.2-bn-settlement-agreements-with-dubailand,-emirates-nbd\" style=\"\" rel=\"noopener\">settled AED 850 mn in debt<\/a> with Emirates NBD and Dubailand that it had accumulated during the 2009 property market correction, securing a no-objection certificate from Dubailand to repurpose Motor City for new projects.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Dubai\u2019s real estate market is getting a Nordic twist <\/strong>as homegrown developer <a target=\"_blank\" href=\"https:\/\/nordicluxe.com\/\" style=\"\" rel=\"noopener\">Nordic<\/a><a target=\"_blank\" href=\"https:\/\/nordicluxe.com\/\" style=\"\" rel=\"noopener\">by f\u00e4m<\/a> gears up to launch ten Nordic-themed villas and mansions by 2Q 2025, part of a AED 1 bn project that seeks to lure foreign investors, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/aed-1bln-dubai-development-targets-global-elite-with-scandinavian-villas-dee3mouc\" style=\"\" rel=\"noopener\">press release<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>F\u00e4m Lux, the company\u2019s luxury division, is eyeing AED 10 bn in sales next year.<\/strong> This comes after Nordic by f\u00e4m fold its first two villas earlier this year for AED 61.5 mn and AED 70 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">LOGISTICS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Al Seer Marine expands fleet with two medium-range tankers<\/strong>: Abu Dhabi-based <a target=\"_blank\" href=\"https:\/\/alseermarine.com\/\" style=\"\" rel=\"noopener\">Al<\/a><a target=\"_blank\" href=\"https:\/\/alseermarine.com\/\" style=\"\" rel=\"noopener\">Seer Marine<\/a> added two medium-range tankers, MT Saiph and a sister vessel, to its fleet as part of a six tankers order from <a target=\"_blank\" href=\"https:\/\/eng.kshipbuilding.com\/service\/eng\/main.aspx\" style=\"\" rel=\"noopener\">K Shipbuilding Korea<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/2059.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The oil and chemical tankers are capable of carrying six different grades of cargo and can run on alternative fuels like liquified natural gas, ammonia, and methanol. Both vessels secured five-year charters with Reliance Industries DMCC worth USD 42 mn per ship.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The delivery was financed by a USD 80 mn credit facility<\/strong> from China-based Bank of Communications Financial Leasing Co. (Bocom Leasing). Another facility of the same size was secured with the bank in August for the first tranche of the order, which included medium-range tankers Betelgeuse and Bellatrix. Al Seer expects to receive the remaining two tankers of the order in January 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.drydocks.gov.ae\/\" style=\"\" rel=\"noopener\">Drydocks World<\/a><\/strong><strong> opens multi-mn USD expansion in Dubai: <\/strong>DP World marine and ship repair services subsidiary <strong><a target=\"_blank\" href=\"https:\/\/www.drydocks.gov.ae\/\" style=\"\" rel=\"noopener\">Drydocks World<\/a><\/strong> inaugurated a multi-mn USD expansion facility which will boost the company\u2019s fabrication capacity by 40% and yard capacity by 25%, according to a <a target=\"_blank\" href=\"https:\/\/mediaoffice.ae\/en\/news\/2024\/december\/23-12\/drydocks-world-unveils-major\" style=\"\" rel=\"noopener\">statement<\/a> from the Dubai Media Office.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong>75<\/strong><strong>k sqm South Yard was built to handle complex projects<\/strong>, like converting floating production storage and offloading vessels, building topsides for offshore platforms, and setting up high-voltage alternate current (HVAC) and high-voltage direct current (HVDC) converter platforms for offshore wind energy projects. The facility runs entirely on clean energy from the Sheikh Mohammed bin Rashid Al Maktoum <a target=\"_blank\" href=\"https:\/\/www.mbrsic.ae\/en\/about\/mohammed-bin-rashid-al-maktoum-solar-park\/\" style=\"\" rel=\"noopener\">Solar Park<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Further expansion incoming? <\/strong>Drydocks plans to add a 5k-tone floating sheerleg crane, set to be operational by 2026, which will boost the yard\u2019s capabilities.<\/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\">CUSTOMS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Customs clearance is about to get faster: <\/strong>Dubai Customs implemented a new customs inspection system that aims to cut clearance procedures time by 50%, according to the Dubai <a target=\"_blank\" href=\"https:\/\/mediaoffice.ae\/en\/news\/2024\/december\/23-12\/dubai-customs\" style=\"\" rel=\"noopener\">Media Office<\/a>. The new system was launched in partnership with Aramex, and it allows businesses to opt for either full-site or on-demand inspections.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> The full-site inspection option allows companies to process high-volume orders by permanently placing customs officers at the company\u2019s premises, while the on-demand inspection allows the deployment of customs officers only when needed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.sealmaticindia.com\/\" style=\"\" rel=\"noopener\">Sealmatic India<\/a><\/strong><strong> partnered with <\/strong><strong>High Technology<\/strong><strong> to form SealTech Seals Repair and <\/strong><strong>Maintenance<\/strong>, a 50:50 joint venture aimed at delivering mechanical seal services, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/2056.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The service center, set to be located in Abu Dhabi\u2019s Musaffah Industrial Area, will feature advanced machinery to support clients like ADNOC, OEMs, KSB, and Sulzer, among others. Two seasoned experts from Sealmatic will relocate to Abu Dhabi to spearhead operations. <\/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\">TRANSPORT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Pact Carbon<\/strong><strong> partnered with the Energy and Infrastructure Ministry to roll out a pilot <\/strong><strong>project to expand the use of e-bikes<\/strong>, according to a Ministry <a target=\"_blank\" href=\"https:\/\/www.moei.gov.ae\/en\/media-center\/news\/23\/12\/2024\/ministry-of-energy-and-infrastructure-joins-forces-with-pact-carbon-to-promote-green-mobility\" style=\"\" rel=\"noopener\">statement<\/a>. The agreement also involves a feasibility study to explore scaling up the initiative in line with UAE\u2019s push for green and sustainable mobility solutions. No further details were provided on the initiatve.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE is on a mission to make <\/strong><strong>e-bike<\/strong><strong>s mainstream<\/strong>, with Enoc Group tapping <a target=\"_blank\" href=\"https:\/\/driveterra.com\/\" style=\"\" rel=\"noopener\">Drive Terra<\/a> earlier this month to roll out a network of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/75ccb911-9893-4b7a-be5a-7b87db04dc3b\/%253cmark%253e%253c%2Fmark%253eagriculture%253cmark%253e%253c%2Fmark%253e,%253cmark%253e%253c%2Fmark%253e%253cmark%253e%253c%2Fmark%253eev%253cmark%253e%253c%2Fmark%253e,%253cmark%253e%253c%2Fmark%253e%253cmark%253e%253c%2Fmark%253eand%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ewater%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253emanagement%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eupdates%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253efrom%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253etunisia%253cmark%253e%253c%2Fmark%253e,%253cmark%253e%253c%2Fmark%253e%253cmark%253e%253c%2Fmark%253euae%253cmark%253e%253c%2Fmark%253e,%253cmark%253e%253c%2Fmark%253e%253cmark%253e%253c%2Fmark%253eksa%253cmark%253e%253c%2Fmark%253e,%253cmark%253e%253c%2Fmark%253e%253cmark%253e%253c%2Fmark%253eand%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253emorocco%253cmark%253e%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">battery-swapping stations for e-bikes<\/a> across the UAE. The initiative introduces a Batteries-as-a-Service model to reduce battery costs, charging times, and range limitations.<\/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\">INS.-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AM Best maintained<\/strong> <strong>Dubai National Ins. & Reins.\u2019s financial strength rating at A- <\/strong><strong>(Excellent) <\/strong>and its long-term issuer credit rating at a- (Excellent), with a stable outlook for both ratings, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/2054.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The company's strong balance sheet, characterized by a strong risk-adjusted capitalization and solid earnings retention over recent years, underpinned AM Best\u2019s rating.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">ENERGY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Adnoc Drilling received two new jack-up rigs<\/strong>, set to be operational by 1Q 2025, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/14a7oxk-adnoc-drilling%E2%80%99s-two-brand-new-jack-ups-rigs\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The addition increases the company's fleet size to 142 rigs, making it one of the largest rig fleet owners globally.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/adnoc-drilling\/\">Adnoc Drilling<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/al-seer-marine\/\">Al Seer Marine<\/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\" 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class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/real-estate\/\">Real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/union-properties\/\">Union Properties<\/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=\"99118\" 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=\"99118\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/24\/honda-nissan-and-mitsubishi-eye-potential-usd-58-bn-merger-amid-rising-ev-competition\/\">\r\n                            Honda, Nissan, and Mitsubishi eye potential USD 58 bn merger amid rising EV competition                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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data-image-meta=\"[]\" data-image-title=\"2122.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/2122.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/2122.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99118\" class=\"content-area-description single-story post-99118 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-automotive tag-enterpriseam-uae tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.3c870d54-7105-475a-b7f1-7e675a1a680d.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The single biggest story on Planet Finance is the possible merger of automobile gia<\/strong><strong>nts Honda and Nissan<\/strong>, after the two companies inked an MoU to explore a possible merger, aiming to create the world\u2019s third-largest automaker by sales, according to a <a target=\"_blank\" href=\"https:\/\/global.honda\/en\/newsroom\/news\/2024\/c241223beng.html\" style=\"\" rel=\"noopener\">statement<\/a> yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Is Mitsubishi in? <\/strong>The talks, which could also include Mitsubishi Motors, who is set to decide whether to formally join the merger talks next month, according to a <a target=\"_blank\" href=\"https:\/\/global.honda\/en\/newsroom\/news\/2024\/c241223ceng.html\" style=\"\" rel=\"noopener\">separate MoU<\/a>, are set to finalize by June 2025, with a holding company established by 2026. The transaction would bring the combined valuation of Honda and Nissan to USD 54 bn according to their current market caps, and to USD 58 bn if Mitsubishi were included. This would put them only behind Toyota and Volkswagen in terms of size, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/dbad4d4d-effc-4926-b2c7-c573d5d6deca\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports. The two companies would aim for combined sales of JPY 30 tn yen (USD 191 bn) and operating profit of more than JPY 3 tn yen. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The automakers say it is a competitive play:<\/strong> The merger is part of a broader strategy to maintain competitiveness amid \u201cdrastically changing business dynamics,\u201d Honda CEO Toshihiro Mibe said, with Chinese EV makers and Tesla rapidly gaining traction against the Japanese automotive sector. \u201cWe have to build up capabilities to fight with them by 2030, otherwise we'll be beaten,\u201d Mibe said. The need for scale represents a forward-looking strategy and is \u201cnot a rescue of Nissan,\u201d Mibe added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s the issue with Nissan? <\/strong>The Japanese automaker recently <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/nissan-plans-9000-job-cuts-slashes-annual-profit-outlook-by-70-2024-11-07\/\" style=\"\" rel=\"noopener\">announced<\/a> a 20% cut in global production capacity and plans to slash 9k jobs following a 90% drop in operating profit in the first half of the fiscal year. According to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/honda-nissan-set-announce-launch-integration-talks-media-reports-say-2024-12-22\/\" style=\"\" rel=\"noopener\">Reuters<\/a>, Nissan\u2019s weakened financial position has raised speculation that the merger is a lifeline, despite denials from both CEOs. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The challenge? <\/strong>Creating meaningful synergies and avoiding past merger pitfalls, such as DaimlerChrysler's failed union, the <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/12\/23\/business\/honda-nissan-merger-talks.html\" style=\"\" rel=\"noopener\">New York Times<\/a> said. The FT and Reuters forecast that the merger could face hurdles \u2014 including resistance from shareholders and regulatory approvals \u2014 on the back of Nissan\u2019s weaker financial footing amid profitability concerns and declining sales in its largest market, China. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Honda and Nissan plan to share platforms and resources to cut costs<\/strong>, focusing on EVs, autonomous driving technologies, and software development. However, its scale still may fall short of providing a competitive edge against Tesla and Chinese automakers, lauded for their cost-efficient production and technological advancements, the NY Times reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reax: <\/strong>Honda\u2019s shares climbed up 13.4% on the news, benefiting from a separate share buyback announcement, while Nissan shares fell 7% on the Tokyo Stock Exchange, and Mitsubishi Motors gained 0.3%.<\/p>\n<p class=\"tag-border-left\">ALSO WORTH KNOWING ON PLANET FINANCE- <\/p>\n<ul>\n<li><strong>South Korea is set to issue its first KRW-denominated foreign-excha<\/strong><strong>nge stabilization bonds in over two decades next month<\/strong>, targeting up to KRW 20 tn (USD 13.8 bn) in total debt issuance for 2025 to reduce KRW funding costs and boost currency market stability, according to a Finance Ministry source with knowledge of the matter. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-23\/south-korea-plans-first-won-denominated-fx-bonds-in-21-years?srnd=phx-economics-v2\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/li>\n<li><strong>Global bond funds attracted a record USD 600 bn in inflows this <\/strong><strong>year<\/strong>, despite closing the year down 1.7%, according to Bloomberg\u2019s global aggregate bond index, amid concerns about slower-than-expected rate cuts in 4Q. Investor demand was driven by elevated yields and slowing inflation, alongside an anticipated easing of monetary policy. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/de2c7f49-1ae0-4f02-b403-6c12dfa55b76\" style=\"\" rel=\"noopener\">Financial Times<\/a>) <\/li>\n<\/ul>\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>, with South Korea\u2019s Kospi and Japan\u2019s Nikkei both slipping 0.3%, after the Bank of Japan published minutes from its latest monetary policy meeting. Meanwhile, Hong Kong\u2019s Hang Seng index rose 0.4% on open, while mainland China\u2019s CSI 300 gained 0.1%. <strong>Over on Wall Street<\/strong>, futures are near the flatline ahead of an early day for the New York Stock Exchange for Christmas Eve. <\/p>\n<div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,402<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.5% (YTD: -1.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">5,056<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: +24.6%)<\/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>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\">4,142<\/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: 7.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : AED<\/strong><strong> CBUAE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Buy 3.67<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">Sell 3.67<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EIBOR<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4.3% o\/n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4.3% 1 yr<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">11,949<\/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\">+0.8% (YTD: +0.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>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\">30,118<\/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\">-0.8% (YTD: +21.0%)<\/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>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,974<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.7% (YTD: +25.3%)<\/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>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\">8,103<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +4.8%)<\/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\">4,853<\/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: +7.3%)<\/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>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 72.99<\/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%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex) <\/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 3.71<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.9%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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 2,629<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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 94,075<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-1.2% (YTD: +122.4%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE CLOSING BELL-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ADX rose 0.5% yesterday<\/strong> on turnover of AED 1.1 bn. The index is down -1.8% 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>Mair Group (+12.4%), Fujairah Cement Industries (+7.2%) and Hayah Insurance Company (+5.4%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>E7 Group (-4.6%), Pure Health Holding (-2.7%) and Rak Co. for White Cement &amp; Construction Materials (-2.6%). <\/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 stayed flat, trading on turnover of AED 413.9 mn. Meanwhile Nasdaq Dubai closed up 0.6%.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/uae\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"99120\" 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\/24\/99120-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-99120\" class=\"content-area-description single-story post-99120 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 Decemb<\/span><span>er - 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>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>, 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>21 January (Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/globalgovernmentcloudforum.com\/\" style=\"\">The Global Government Cloud Forum<\/a><\/span><span>, <\/span><span>the 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>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>17-21 February: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.idexuae.ae\/\" style=\"\">International Defence Exhibition (IDEX)<\/a><\/span><span style=\"font-weight:400;\"> in 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>17-21 February: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.navdex.ae\/\" style=\"\">Naval Defence Exhibition (NAVDEX)<\/a><\/span><span style=\"font-weight:400;\"> in 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>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 style=\"font-weight:400;\">, 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 style=\"font-weight:400;\">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\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>UAE\u2019s property market beats Hong Kong\u2019s | Sharjah approves bumper budget<\/p>\n","protected":false},"featured_media":99101,"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-99100","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"3f6708fc-ef18-476d-9eee-184a5926b830","teaser":"UAE\u2019s property market beats Hong Kong\u2019s | Sharjah approves bumper budget","photo_url":"https:\/\/ent.news\/2024\/1\/888.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\/ 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