{"id":103719,"date":"2025-05-16T00:00:00","date_gmt":"2025-05-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/this-morning-trump-wraps-up-regional-tour-in-abu-dhabi-today\/"},"modified":"2025-05-16T00:00:00","modified_gmt":"2025-05-16T00:00:00","slug":"this-morning-trump-wraps-up-regional-tour-in-abu-dhabi-today","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/05\/16\/this-morning-trump-wraps-up-regional-tour-in-abu-dhabi-today\/","title":{"rendered":"THIS MORNING: Trump wraps up regional tour in Abu Dhabi today"},"content":{"rendered":"

Good morning, friends, and happy FRIDAY. <\/strong>We close out the week with a blockbuster issue, detailing the USD 200 bn in agreements US President Donald Trump inked with UAE officials last night. <\/p>\n

Trump kick<\/strong>ed off his visit to the UAE with a tour of the Sheikh Zayed Grand<\/strong> Mosque in Abu Dhabi last night<\/strong>, after which he received the Order of Zayed \u2014 the highest civilian honor from the UAE to heads of states \u2014 from President Sheikh Mohamed bin Zayed Al Nahyan and headed to Qasr Al Watan for a grand ceremony and bilateral talks with the president before attending a state dinner. <\/p>\n

The two heads of states hailed the US and the UAE\u2019s close ties<\/strong>, with Al Nahyan saying their partnership has taken a \u201csignificant leap forward\u201d since Trump took office. They also vowed to continue advancing cooperation in several strategic sectors, and in promoting peace and stability in the region, state news agency Wam<\/a> reports. <\/p>\n

Trump continues his tour today, with plans to meet US embassy staff, attend a US-UAE<\/strong> business event, and visit the Abrahamic Family House<\/strong> on Saadiyat Island, before departing by mid-afternoon, the National<\/a> reports.<\/p>\n

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? <\/strong>WEATHER<\/strong>- Expect dusty skies and cooler temps this weekend: <\/strong>Moderate southwesterly to northwesterly winds will kick up dust and sand across the UAE through Sunday, according to the National Center of Meteorology (pdf)<\/a>. Dubai <\/strong>will see daytime highs of around 38\u00b0C today, falling to 28\u00b0C overnight, while Abu Dhabi<\/strong> will be slightly cooler with highs of 34\u00b0C and lows around 29\u00b0C.<\/p>\n

Temperatures are set to ease further on Saturday<\/strong>, with rising humidity overnight and a chance of early morning mist on Sunday.<\/p>\n

WATCH THIS SPACE- <\/p>\n

<\/a> #1-<\/strong> Adnoc will now have to seek approval from the EU under its foreign subsidies rules <\/strong>for its bid to take over Covestro for EUR 14.7 bn<\/strong>, after securing the all-clear<\/a> from the bloc\u2019s antitrust regulators, Reuters<\/a> reports, citing a filing on the European Commission website. The foreign subsidies rules aim to rein in competition from non-EU companies supported by \u201cunfair\u201d subsidies from their governments. The bloc now has until 24 June to make a decision, and can open an in-depth investigation if it deems it necessary, which could take up to 90 days and could be extended for a further three weeks. <\/p>\n

REMEMBER- <\/strong>Telecoms giant e& was subject to the first ever EU anti-subsidy probe last year, but received approval for its takeover of PPF Telecom Group after e& agreed not to provide foreign subsidies to the merged European entity and to remove an unlimited state guarantee. <\/p>\n

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<\/a> #2- <\/strong>Banking<\/strong> and power of attorney attestation goes digital: <\/strong>UAE banks now require electronic attestation for opening accounts for visitors and for verifying power of attorney documents from clients abroad, Emirates Today<\/a> reports, citing an internal memorandum shared within banks it obtained. Banks will require a certificate from the Foreign Affairs Ministry (MoFA) verifying the authenticity of documents, stamped by an authorized entity, which can be received digitally through a new e-attestation platform.<\/p>\n

The rationale: <\/strong>Banks are applying this process to validate powers of attorney from former residents who left the UAE but still have accounts with pending transactions.<\/p>\n

The <\/strong>how<\/strong>:<\/strong> Banks will use a reference number to authenticate the documents via a MoFA-provided link. Previously, attestation involved physical stickers from UAE missions abroad plus official stamps and signatures. <\/p>\n

Background: <\/strong>MoFA also recently integrated with the Interior Ministry (MOI), linking its e-attestation platform with MOI\u2019s clear criminal record service. According to an MOI statement<\/a>. Users can now complete three transactions in one step through MOI\u2019s digital channel, reducing processing time from six days to three minutes. Delivery fees have also been removed. <\/p>\n

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<\/a> #3- <\/strong>ADGM <\/strong>proposes new consumer protection rules for retail sector:<\/strong> The ADGM Registration Authority has issued a consultation paper (pdf)<\/a> proposing a formal consumer protection framework for non-financial retail businesses operating under Category C licenses. The draft rules would apply to both licensed and temporarily permitted retailers in ADGM, including those on Al Reem Island. Public feedback is open until 8 June 2025.<\/p>\n

The details: <\/strong>The proposed regulations outline obligations on product labeling, usage instructions, warranty provision, and clear disclosure of used or refurbished goods. They also address misleading advertising, unfair contract terms, and defective product handling. The framework would establish formal complaint channels and grant the registrar enforcement powers, including issuing determinations and financial penalties.<\/p>\n

IN CONTEXT- <\/strong>The proposal comes after ADGM expanded its jurisdiction to Al Reem Island<\/a> and saw a rising number of retail operators, according to an ADGM sta<\/a>tement<\/a>. The financial center recorded a 32% y-o-y<\/a> increase in registered companies, reaching nearly 2.4k in 2024.<\/p>\n

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<\/a> #4- IHC eyes stake in UK hospitality empire for GBP 1 bn:<\/strong> Abu Dhabi\u2019s International Holding Company is in advanced talks to acquire a significant share of UK hospitality mogul Richard Caring\u2019s portfolio \u2014 including the Ivy restaurant chain and private members\u2019 club Annabel\u2019s \u2014 in a potential transaction that could exceed GBP 1 bn, the Financial Times<\/a> reports. Talks have reportedly expanded to include Caring\u2019s broader assets, such as assets within his Mayfair club group Mark Birley Holdings, which is co-owned by Qatari royal and former prime minister Sheikh Hamad bin Jassim bin Jaber al Thani. The funding would allow Caring to expand his brands to new markets. <\/p>\n

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#5- ADIO to launch European and US roadshow this year:<\/strong> The Abu Dhabi Investment Office (ADIO) will target European and American markets through roadshows this year as it looks to attract more foreign direct investment, Investor Relations Director Yaser Al Yousif told state news agency Wam<\/a>. Recent roadshows in London, China, and Japan led to over ten MoUs with Japanese and Chinese firms, he said.<\/p>\n

#6- Etihad Rail has confirmed that its passenger train service will begin operations<\/strong> in <\/strong>2026<\/strong>, it said in a post on X<\/a>. The project is expected to offer a fast, sustainable transport option connecting key cities across the country.<\/p>\n

HAPPENING TODAY- <\/p>\n

#1-<\/strong>The IUHPE World Conference on Health Promotion<\/a><\/strong> is on its final day<\/strong> at the Adnec Center in Abu Dhabi. The conference will bring together over 2k global health leaders, policymakers, and advocates to address planetary health challenges, including non-communicable diseases, digital health, precision health, and emergency preparedness. <\/p>\n

#2- <\/strong>Investopia Europe<\/a><\/strong> will take place today <\/strong>at Palazzo Mezzanotte in Milan. Approximately 60 Emirati delegates government entities and private sector firms \u2014 including the Abu Dhabi Investment Office, Dubai\u2019s Department of Economy and Tourism, Ras Al Khaimah Economic Zone, Invest in Sharjah, G42, ADQ, NG9, and Marjan \u2014 will engage with Italian and European business leaders to explore potential investments and partnerships.<\/p>\n

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

Most foreign outlets are focusing on Trump\u2019s blitz through<\/strong> the region<\/strong>, which has now secured him some USD 2 tn in investments. <\/p>\n

ALSO GETTING ATTENTION-<\/strong> The first direct talks between Russia and Ukraine in Turkey yesterday did not go as planned, with Russian President Vladimir Putin skipping the talks and sending a delegation in his place, and Trump saying no agreement can be met until he sits down with Putin himself. (Financial Times<\/a> | Reuters<\/a>)<\/p>\n

AND- Crypto exchange Coinbase was hit with a cyberattack that it said could lead to losses of up to USD 400 mn.<\/strong> The exchange said it received threats from a hacker that it has sensitive client information, though Coinbase said no login credentials have been breached, but some data like names and addresses were stolen. Its shares dove 6% on the news. (Reuters<\/a> | CNBC<\/a> | Bloomberg<\/a>) <\/p>\n

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***<\/p>\n

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***<\/p>\n","protected":false},"excerpt":{"rendered":"

Plus: Adnoc seeks EU foreign subsidies approval for Covestro takeover<\/p>\n","protected":false},"author":1,"featured_media":103720,"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":[489,610,159,1125,7,458,477,31,1342,1344,1334,1367,6],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-103719","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-adgm","tag-artificial-intelligence","tag-banking","tag-donald-trump","tag-enterpriseam-uae","tag-etihad-rail","tag-hospitality","tag-international-holding-company","tag-investment","tag-ma","tag-trade","tag-transport","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"f7159503-9713-4aa9-8de8-58a915314198","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2025\/5\/1364.jpg","photo_position":"above","homepage_title":"","full_issue_title":"THIS MORNING: Trump wraps up regional tour in Abu Dhabi today","related_issue":[103717],"teaser":"Plus: Adnoc seeks EU foreign subsidies approval for Covestro takeover","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/5\/.f4e12722-f811-427f-8e1a-b4ded35cba31.mp3"},"yoast_head":"\nTHIS MORNING: Trump wraps up regional tour in Abu Dhabi today - 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