{"id":100660,"date":"2025-02-13T00:00:00","date_gmt":"2025-02-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/this-morning-nmdc-to-ipo-logistics-unit-adx-cbuae-agree-to-settle-trades-in-aed\/"},"modified":"2025-02-13T00:00:00","modified_gmt":"2025-02-13T00:00:00","slug":"this-morning-nmdc-to-ipo-logistics-unit-adx-cbuae-agree-to-settle-trades-in-aed","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/02\/13\/this-morning-nmdc-to-ipo-logistics-unit-adx-cbuae-agree-to-settle-trades-in-aed\/","title":{"rendered":"THIS MORNING: NMDC to IPO logistics unit? + ADX, CBUAE agree to settle trades in AED"},"content":{"rendered":"

Good morning, friends. <\/strong>Earnings season is still keeping us busy, with earnings reports from Adnoc Logistics & Services, Aramex, and more to dig into. Plus: Economy Minister Abdullah bin Touq Al Marri forecasts 5-6% growth for the UAE economy this year, and e& PPF acquired Serba Broadband in its Balkan expansion. <\/p>\n

WEATHER- <\/strong>We\u2019re<\/strong> in for a cloudy and potentially rainy day:<\/strong> The National Center of Meteorology forecasts (pdf)<\/a> cloudy skies and possible light rainfall today. Temperatures in Dubai<\/strong> are still expected to be warm, hitting 29\u00b0C during the day, with an overnight low of 21\u00b0C, while Abu Dhabi<\/strong> is expected to see highs of 24\u00b0C and an overnight low of 21\u00b0C.<\/p>\n

WATCH THIS SPACE-
<\/a> #1-<\/strong> NMDC plans to IPO its logistics unit:<\/strong> NMDC plans to publicly list its technical and logistics services unit (NMDC LTS) once it has matured as part of its broader growth strategy, CEO Yasser Zaghloul told Sky News Arabia Business in an interview (<\/span>watch, runtime: 05:09<\/a>). The move follows the<\/span> <\/span>successful IPO<\/a> <\/span>of its subsidiary, NMDC Energy, last September, which raised AED 3.2 bn.<\/span><\/p>\n

REMEMBER-<\/strong> NMDC launched NMDC LTS focusing on marine logistics and technical operations in December 2024<\/a>. <\/p>\n

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<\/a> #2- ADX, CBUAE agree to settle trades in AED<\/strong>: <\/strong>The cash-settlement for all ADX-listed financial instruments \u2014 think stocks, bonds, and ETFs \u2014 will now be processed in AED through the UAE Central Bank\u2019s network, under a freshly inked agreement (pdf)<\/a> between the exchange and the central bank. Margin call and collateral transactions will also be automated through a direct debit mechanism.<\/p>\n

The rationale: <\/strong>Traditionally, cash settlements are handled through third-party banks or clearinghouses. By bringing this process under the Central Bank\u2019s umbrella, the aim is to streamline trade execution, minimize settlement risks and delays, and accelerate transaction processing.<\/p>\n

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<\/a> #3- <\/strong>UAE<\/strong> set to benefit from India\u2019s surging LNG demand: <\/strong>The UAE, which has been investing in new liquefaction projects and energy infrastructure, is well-positioned to gain from India's soaring demand for liquefied natural gas (LNG), as the world\u2019s fourth-largest LNG buyer is set to more than double its imports to 64 bn cubic meters (bcm) annually by 2030, up from 36 bcm in 2023, Bloomberg<\/a> reports, citing an International Energy Agency report (pdf)<\/a>. <\/p>\n

It\u2019s happening already:<\/strong> Two of India\u2019s largest state-owned oil companies, Indian Oil and Bharat Petroleum, will sign major LNG purchase agreements with Adnoc this week, Bloomberg<\/a> reports separately. Indian Oil will buy up to 1.2 mn tons of LNG annually in a 14-year agreement worth over USD 7 bn starting in 2026. The two companies had inked the LNG supply agreement<\/a> back in 2023. Meanwhile, Bharat Petroleum will receive 2.5 mn tons over five years starting April, with an option to extend for another five years.<\/p>\n

For Adnoc, these agreements secure long-term buyers for its LNG exports<\/strong>, following similar agreements with companies in Germany and Malaysia. The UAE is competing with Qatar to attract buyers by offering lower prices and more flexible terms, according to traders who spoke to Bloomberg.<\/p>\n

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#4- <\/strong>India\u2019s<\/strong> Adi<\/strong>a-backed fund eyes private credit:<\/strong> India\u2019s National Investment and<\/a>Infrastructure Fund<\/a>, backed by the Indian government and the Abu Dhabi Investment Authority<\/a> (ADIA), is looking to raise up to USD 2 bn in a private credit fund, Bloomberg<\/a> reports, citing statements from CEO Sanjiv Aggarwal at an event in Mumbai. The fund aims to tap into increasing investor interest in alternative assets beyond traditional equity and fixed income.<\/p>\n

REMEMBER- Adia has been <\/strong>expanding investments in private credit, with a USD 200 mn investment in an Australian real estate private credit company Qualitas Diversified Credit Investments<\/a> last June, a USD 831 mn commitment to the UK\u2019s Cheyne Capital<\/a>, and USD 1 bn<\/a> for Barclays and AGL Credit Management\u2019s joint fund. <\/p>\n

DATA POINTS- <\/p>\n

#1-<\/strong>The<\/strong> UAE ranked first<\/strong> in the Middle East and North Africa and 23rd globally in <\/strong>Transparency International\u2019s 2024 Corruption Perceptions Index<\/a><\/strong>, maintaining a score of 68 from 2023. The country outperformed Austria, France, and the US on the index, which evaluates 180 nations based on perceived public sector corruption. Meanwhile, the report highlighted persistently high global corruption levels, with over two-thirds of countries scoring below 50 and the global average stagnating at 43.<\/p>\n

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#2- IFC has deployed USD 2.3 bn to UAE firms in 2024 and eyes global<\/strong> emirati <\/strong>investments: <\/strong>The International Financial Corporation (IFC) provided USD 2.3 bn in financing to UAE-headquartered companies in 2024, Managing Director Makhtar Diop told state news agency Wam<\/a> on the sidelines of the World Governments Summit. The IFC\u2019s total investments in emerging markets during the 2024 fiscal year, which ended in June, amounted to USD 56 bn. <\/p>\n

The focus is on renewable energy: <\/strong>Diop highlighted the UAE as one of Africa\u2019s largest renewable energy investors and said the IFC is prioritizing collaboration with Emirati companies to scale projects in Europe, Central Asia, and Latin America. The organization is deploying financial tools and guarantees to facilitate UAE investments in these regions.<\/p>\n

More coming?<\/strong> Abu Dhabi sovereign wealth fund ADQ inked a MoU with the IFC to collaborate on investments in agriculture, energy, logistics, transport, and healthcare across emerging markets, according to a press release<\/a>. <\/p>\n

PSAs-
#1- <\/b>The UAE will be granting 20 sustainability innovators and thought leaders th<\/span>e 10-year Blue Residency Visa<\/span>, as part of the first phase of the Blue Residency program, state news agency<\/span> <\/span>Wam<\/a> <\/span>reports. The initiative, first<\/span> <\/span>approved in May 2024<\/a> <\/span>by Dubai Ruler Mohammed bin Rashid Al Maktoum, began<\/span> <\/span>accepting applications<\/a> <\/span>on 6 February.<\/span><\/p>\n

Who is eligible? <\/strong>The Blue Visa is designed for members of international organizations, environmental NGOs, award-winning sustainability advocates, researchers, and corporate leaders who have made significant contributions to environmental work.<\/span><\/p>\n

Where to apply: <\/strong>Eligible individuals can apply through the Federal Authority for Identity, Citizenship, Customs, and Ports Security\u2019s smart platform<\/a> or via nomination by competent UAE authorities.  <\/span><\/p>\n

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#2- New parking fees for parking near events take effect next Monday<\/strong>, with an AED 25 per hour rate applying during events near designated zones, Parkin, Dubai\u2019s public parking operator, said in a post on X<\/a>. The company identified Dubai World Trade Centre as a Grand Event Zone and advised visitors to use public transport when attending major events.<\/p>\n

We knew this was coming: <\/strong>Parkin said last month<\/a> that it would roll out variable parking tariffs, including for parking near event zones. The parking operator is also set to introduce new peak-hour fees of AED 6 per hour for premium spaces and AED 4 per hour for other public spaces from 8-10 am and 4-8 pm in March. <\/p>\n

HAPPENING TODAY- <\/p>\n

#1- The <\/strong>World Governments Summit 2025<\/a><\/strong> is on its final day <\/strong>in Dubai. Country leaders, international organization heads and business players are meeting to discuss six key themes: effective governance and accountability, financing the future and the global economy, climate crisis mitigation and resilient cities, human-centric futures and capacity building, global health transformations, and emerging frontiers and the future.<\/p>\n

#2- The Sharjah Consultative Council will hold its ninth session today <\/strong>to discuss Sharjah Health Authority\u2019s policy<\/strong>, Wam<\/a> reports.<\/p>\n

HAPPENING THIS WEEK- <\/p>\n

<\/a> #1-<\/strong>US State Secretary Marco Rubio is set to make a stop in the UAE as part of a wider <\/strong>Middle East tour <\/strong>starting Saturday, according to a statement<\/a>. Rubio will also make stops in Israel and Saudi Arabia, with the focus of the tour being advancing the second phase of the Gaza ceasefire discussing Iran and Hamas\u2019 US hostages.<\/p>\n

#2 <\/strong>Dubai Rising: Building Tomorrow\u2019s Global Business Capital<\/a><\/strong> will take place tomorrow, 14 February<\/strong> at the Museum of the Future. The event \u2014 which is a collaboration between the Dubai Media Office and Georgetown University\u2019s McDonough School of Business \u2014 features discussions on Dubai's vision for global commerce and economic growth with officials, policymakers, business leaders, media, and scholars from the US and UAE.<\/p>\n

THE BIG STORY ABROAD-<\/p>\n

The war in Ukraine is in the spotlight this morning<\/strong>, as an unexpected rapprochement between the US and Russia opens the door for peace talks.<\/p>\n

Russo-Ukranian talks to kick off: <\/strong>US President Trump agreed \u2014 in his first publicly announced phone call with Russian President Vladimir Putin \u2014 to start negotiations aimed at ending the war \u201cimmediately\u201d and reaching a long-term settlement. The two presidents are set to meet later in Riyadh to iron out the details, Trump added.<\/p>\n

Blindsiding allies: <\/strong>The announcement came hours after US Defense Secretary Pete Hagseth told the Nato that Ukraine\u2019s aims to join the alliance are \u201cunrealistic,\u201d conceding that the country will probably have to accept losing territory.<\/p>\n

Ever the businessman: <\/strong>The US also presented Ukraine\u2019s president Volodymyr Zelenskiy with an economic partnership agreement, during a visit by Treasury Secretary Scott Bessent to Kyiv. Zelenskiy said the talks will include \u201cUkraine\u2019s potential in natural resources,\u201d a particular interest for Trump, who said earlier he would like to tap into Kyiv\u2019s critical minerals as well as open its markets to US energy exports in exchange for military and economic support. (NY Times<\/a> | Bloomberg<\/a> | FT<\/a> | Reuters<\/a> | CNN<\/a> | Semafor<\/a>)<\/p>\n

Tariffs push not slowing down: <\/strong>Trump could sign his reciprocal tariffs today, ahead of India\u2019s Prime Minister Nerandra Modi landing in Washington, where the two are scheduled to discuss trade concessions to spare India potential tariffs. (CNBC<\/a>)<\/p>\n

Eyes are still on the region: <\/strong>Tensions are high closer to home, as Egypt\u2019s president Abdel Fattah El Sisi has reportedly opted to stay away from the White House as long as the agenda includes talks on displacing Gazans. Meanwhile, Israel is reportedly pushing to retain a number of positions in Lebanon after the US shot down a request to keep most troops in the country in violation of the ceasefire agreement with Hezbollah. (Bloomberg<\/a> | Reuters<\/a>)<\/p>\n

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