Good morning, lovely people. <\/b>We have another busy issue for you this morning, with plenty of M&A updates and more data on the UAE\u2019s construction and real estate sectors in 2024. Let\u2019s dive in. <\/p>\n
WEATHER-<\/strong> Expect <\/strong>sunshine today across the country<\/strong>, the National Center of Meteorology<\/a>(pdf)<\/a> says. Dubai<\/strong> will see the mercury hit 23\u00b0C today, with an overnight low of 14\u00b0C, while temperatures will hit 22\u00b0C in Abu Dhabi<\/strong>, with an overnight low of 15\u00b0C.<\/p>\n <\/a> You can now use Meta\u2019s AI assistant, <\/strong>Meta AI<\/a><\/strong>, in the UAE and the wider<\/strong> MENA region<\/strong>, after the company rolled out the tool in the region in Arabic, Gulf News<\/a> reports. You can access the tool through your Facebook or Instagram account, and you can also use it in group chats by tagging Meta in the chat. The tool was created with the open-source language model LIama 3.2 to generate text and create and animate images directly across Meta applications, including Facebook, Instagram, WhatsApp, and Messenger. <\/p>\n WATCH THIS SPACE- <\/p>\n <\/a> #1- <\/strong>Permira <\/strong>to open <\/strong>Dubai office in 2025:<\/strong> UK-based private equity firm Permira<\/a> will open an office at Dubai International Financial Center this year, the company said in a statement<\/a>. The move aims to strengthen Permira\u2019s presence in the Middle East and to work \u201cclosely with existing local and regional investors and [develop] new strategic partnerships,\u201d the statement said. The PE firm tapped Nader Salman (LinkedIn<\/a>) as managing director and head of Middle East in its Capital Formation team. <\/p>\n Permira manages USD 81.8 bn in private equity and private credit<\/strong>, according to Bloomberg<\/a>. The new office is awaiting approval from the Dubai Financial Services Authority, according to the statement.<\/p>\n <\/a> #2- <\/strong>UAE <\/strong>eyed for Trump-Putin summit: <\/strong>The UAE and Saudi Arabia are being considered as potential venues for a summit between US President Donald Trump and Russian President Vladimir Putin later this year, Reuters<\/a> reports, citing Russian sources familiar with the discussions. Senior Russian officials have visited both Gulf nations in recent weeks. Trump has previously indicated that he is willing to sit down with Putin to seek an end to the ongoing war in Ukraine.<\/p>\n Neutrality is a key factor: <\/strong>\u201cAlmost the entire West is involved on the side of Ukraine. Therefore, all the traditional venues where such things used to take place, like Helsinki, Geneva, and Vienna, are not suitable,\" Russian analyst Fyodor Lukyanov previously told Russian news agency TASS. However, some in Moscow remain cautious due to the UAE\u2019s and Saudi Arabia\u2019s close military and security ties with Washington, the sources added.<\/p>\n REMEMBER- <\/strong>The UAE has played a key mediating role in the Russia-Ukraine war. The country mediated the first prisoner exchange between Russia and Ukraine in 2025 in January<\/a>, with each side swapping 25 prisoners. To date, more than 2.4k prisoners<\/a> have been exchanged through UAE-brokered deals.<\/p>\n #3- <\/strong>British beverage company Diageo is eyeing a local alcohol production facility <\/strong>\u2014 potentially including distilleries or breweries \u2014 as part of its 5-year expansion plan in the Mena region, Khaleej times<\/a> reports. Diageo is already producing under license in other parts of Mena and expects local production in the UAE is \u201cnot [a question of] if but when,\u201d according to the company\u2019s managing director, Antoinette Drumm.<\/p>\n REMEMBER- We might be getting another local brewery in Dubai:<\/strong> In November 2024<\/a>, Sirocco \u2014 a joint venture between Heineken and Dubai Maritime Mercantile International \u2014 revealed plans to establish the Gulf\u2019s first large-scale commercial brewery in Dubai, set to launch by late 2027.<\/p>\n PSAs-<\/p>\n #1- <\/strong>Parking <\/strong>tariffs in Al Sufouh 2\u2019s Zone F have increased nearly two-fold<\/strong>, impacting motorists in Barsha Heights, Dubai Media City, Dubai Internet City, and Knowledge Village, Gulf News<\/a> reports. The new rates are:<\/p>\n #2- You can now pay electricity and water bills, telecom fees, and Salik and parking <\/strong>charges with monthly installments through Tabby<\/strong>, after the Dubai government integrated the buy now, pay later (BNPL) platform into payment gateway DubaiPay, Gulf News<\/a> reports. <\/p>\n DATA POINT-<\/p>\n Dubai South w<\/strong>elcomed 415 new companies in 2024<\/strong>, bringing the total number of companies operating in the aviation and logistics development district to 4k with a retention rate of 94% for existing companies, according to a Dubai Media Office statement<\/a>. <\/p>\n HAPPENING TODAY- <\/p>\n #1- The UAE-Kuwait Week will wrap up today <\/strong>in Dubai, featuring investment conferences, panel discussions on economic development, and B2B meetings. Attendees will explore opportunities for collaboration in emerging industries, state news agency Wam<\/a> reports. <\/p>\n #2- The Mubadala Abu Dhabi Open\u2019s round of 32 continues today at Zayed Sports City. <\/strong>The big games to watch out for today: <\/p>\n You can still buy tickets for the tournament<\/a>, which ends on 8 February, here. <\/p>\n #3- <\/strong>Medlab<\/a><\/strong><\/a><\/strong>Middle East<\/a><\/strong> is in full swing until 6 February<\/strong> at Dubai World Trade Center. The event is a platform for attendees to explore the latest innovations in medical lab technologies, diagnostics, and research. It features the participation of laboratory manufacturers, healthcare experts, procurement professionals, suppliers, and distributors from across the region. <\/p>\n #4- <\/strong>AI<\/a><\/strong>Everything<\/a><\/strong>Global<\/a><\/strong> kicks off today at the St. Regis Saadiyat Island Resort, Abu <\/strong>Dhabi<\/strong>, and will continue on 5 and 6 February at the Dubai Exhibition Center. The event brings together policymakers, industry leaders, and tech pioneers to explore AI\u2019s transformative role across many industries.<\/p>\n #5- <\/strong>The International Dental Conference and Arab Dental Exhibition<\/a><\/strong>kicks off today and <\/strong>will wrap up on Thursday<\/strong> at the Dubai World Trade Center. The event hosts visitors, brands, companies, speakers, lectures, seminars, scientific discussions, and country pavilions showcasing dental innovations.<\/p>\n THE BIG STORY ABROAD-<\/p>\n Trump\u2019s flurry of executive orders is still the primary focus of international news headlines this <\/strong>morning<\/strong>, from delaying tariffs to creating a new US sovereign fund, to latest updates on the campaign targeting US foreign aid.<\/p>\n Crisis averted (for now): <\/strong>North American leaders managed to reach last-minute agreements with Trump, postponing tariffs on Canada and Mexico for 30 days, pending negotiations. Canadian Prime Minister Justin Trudeau said his country will deploy technology and manpower to curb the flow of immigration and fentanyl across the border, while Mexico\u2019s Sheinbaum is deploying 10k National Guard troops to \u201cstop drug trafficking from Mexico.\u201d Meanwhile, the US committed to curbing the flow of high-powered weaponry to Mexico.<\/p>\n China is still in the fray<\/strong>, however, as 10% tariffs are still set to take effect within a few hours. Trump is to speak with China\u2019s Xi Jinping this week to reach an agreement, otherwise \u201ctariffs are going to go substantially higher,\u201d Trump said yesterday. (NYTimes<\/a> | FT<\/a> | Reuters<\/a> | The Guardian<\/a>)<\/p>\n Trump also signed an executive order yesterday to establish a sovereign wealth fund<\/strong>, with US Treasury Secretary Scott Bessent saying we could see the US fund created within a year. The proposed fund could strike partnerships with \u201cvery wealthy people\u201d and help finance the purchase of TikTok from China\u2019s ByteDance, with an eventual target to rival investments deployed by big players like Saudi Arabia. (Bloomberg<\/a> | BBC<\/a> | Associated Press<\/a>)<\/p>\n MEANWHILE- The embattled US Agency for International Development (USAID) seems to <\/strong>be rapidly approaching a reckoning. <\/strong>The agency\u2019s website has gone down, with some of its top officials put on leave. Secretary of State Marco Rubio appointed himself acting director of the agency, and confirmed earlier reports that USAID will be absorbed by the State Department.<\/p>\n The attack on USAID is part of a wider campaign on federal government in the US helmed <\/strong>by Trump\u2019s efficiency tsar Elon Musk, <\/strong>who referred to the agency as a \u201ccriminal organization\" and a \u201cradical-left political psy op.\u201d (CNN<\/a> | FT<\/a> | NY Times<\/a>)<\/p>\n The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n Subscribe here<\/a> <\/div>\n<\/p><\/div>\n<\/p><\/div>\n ***<\/p>\n 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 EnterpriseAM UAE is available without charge <\/strong>thanks to the generous support of our friends at Mashreq. Tap or click here<\/a> to get your own copy of EnterpriseAM UAE.<\/span><\/p>\n Want to send us a story idea, request coverage, ask for a correction, or otherwise get in touch? <\/strong>Reach out to us on UAE@enterpriseAM.com<\/a> .<\/p>\n DID YOU KNOW that we also cover <\/strong>Egypt<\/a><\/strong>, <\/strong>Saudi Arabia<\/a><\/strong>,<\/strong> and the MENA climate<\/a> and logistics<\/a> industries?<\/p>\n ***<\/p>\n MARKET WATCH- <\/p>\n <\/a> Opec+ sticks to its guns:<\/strong> Opec+ decided to maintain its policy of capping oil supply in 1Q before starting to ramp up output in April, according to an Opec statement<\/a> issued following the conclusion of yesterday\u2019s Joint Ministerial Monitoring Committee (JMMC) meeting. The meeting also handled members\u2019 compliance as well as compensation plans for past overproduction. <\/p>\n The group is so far not heeding Trump\u2019s calls to <\/strong>increase output and lower prices to<\/a><\/strong>USD 60-70 per barrel<\/a><\/strong>, Bloomberg<\/a> reports. \u201cI don\u2019t expect OPEC+ to heed Trump\u2019s demands, or requests \u2014 whichever way you want to see it,\u201d Vanda Insights founder Vandana Hari told the business information service. <\/p>\n Background: <\/strong>Opec+ initially planned to begin phasing out production cuts in October, but later pushed the plans back<\/a> as oil prices fell. Production increases are now slated to<\/a>begin in April 2025<\/a> and to be gradually implemented until the end of 2026. <\/p>\n","protected":false},"excerpt":{"rendered":" Plus: DubaiPay now accepts Tabby installments<\/p>\n","protected":false},"author":1,"featured_media":100332,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","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,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1543],"tags":[143,1342,389,341,177,6],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-100331","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-energy","tag-investment","tag-opec-2","tag-private-equity","tag-tabby","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"955ea99e-34ad-408e-9b78-19f40c688a09","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/10\/1171.jpg","photo_position":"above","homepage_title":"","full_issue_title":"THIS MORNING: Meta rolls out Meta AI in the Mena region + Opec+ maintains oil supply cut policy","related_issue":[100329],"teaser":"Plus: DubaiPay now accepts Tabby installments","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/2\/.2c02fdbd-aa3e-4206-bf4a-e90494149354.mp3"},"yoast_head":"\n
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