{"id":103953,"date":"2025-05-23T00:00:00","date_gmt":"2025-05-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/this-morning-more-ghitha-acquisitions-coming-flydubai-resumes-flights-to-damascus\/"},"modified":"2025-05-23T00:00:00","modified_gmt":"2025-05-23T00:00:00","slug":"this-morning-more-ghitha-acquisitions-coming-flydubai-resumes-flights-to-damascus","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/05\/23\/this-morning-more-ghitha-acquisitions-coming-flydubai-resumes-flights-to-damascus\/","title":{"rendered":"THIS MORNING: More Ghitha acquisitions coming? + Flydubai resumes flights to Damascus"},"content":{"rendered":"

Good morning, lovely people, and happy FRIDAY. <\/strong>We wrap up this busy week with another packed issue, led by more tech news from G42, which is developing the first cluster in the 5GW data center cluster in Abu Dhabi alongside OpenAI, Cisco, Oracle, and Softbank.<\/p>\n

We also have more financing, localization, and manufacturing agreements<\/strong> from day four of Make It in the Emirates, as well as new regulations<\/strong> from the Dubai Financial Services Authority and ADGM<\/strong>. Let\u2019s dive in. <\/p>\n

\u2600\ufe0fWEATHER<\/strong>- Brace yourself for a scorching weekend<\/strong>, as temperatures in Dubai <\/strong>climb to 44\u00b0C today before dipping to 31\u00b0C overnight, while Abu Dhabi<\/strong> is set to see highs of 37\u00b0C with a nighttime low of 29\u00b0C.<\/p>\n

WATCH THIS SPACE-<\/p>\n

<\/a> #1-<\/strong> Ghitha <\/strong>eyes further acquisitions in MENA, Southeast Asia + exports to the US:<\/strong> ADX-listed food-maker Ghitha is eyeing acquisitions at home and abroad as it looks to double its revenue to AED 10 bn over the next three years, CEO Falal Ameen told the National<\/a>. The IHC-backed firm is targeting food, distribution and farming assets across the UAE, MENA and Southeast Asia \u2014 including potential farmland in Indonesia \u2014 and is also exploring export channels in the US market. Ghitha will tap bank loans and its own coffers to fund the purchases. <\/p>\n

The group has been on an acquisition and consolidation spree:<\/strong> The group recently consolidated a number of local producers under its Al Ain Farms platform<\/a>, which had acquired AE-based poultry producer Al Jazira Poultry Farm in March this year, while ADX-listed agro-food outfit Invictus Investment \u2014 a unit of Ghitha \u2014 acquired Mozambique\u2019s largest milling company Merec Industries \u2019parent company Stratton Africa Holding<\/a> earlier this year. Another subsidiary, Zee Stores International, acquired a 70% stake<\/a> in Fujairah\u2019s International Food Industries for AED 41 mn in October, along with several other acquisitions. <\/p>\n

The rationale:<\/strong> \u201cM&A is one of the quickest and fastest, and it is not only the fastest way [to grow], but once you merge, you can reduce a lot of cost, you can synchronize the logistics system \u2026 [and] can use expertise, our software, to improve their production,\u201d Ameen said.<\/p>\n

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#2- <\/strong>Emirati <\/strong>hotel management firm Gewan plans to operate 20 hotels in Egypt by 2028<\/strong>, including five properties owned by Egypt\u2019s National Service Projects Organization (NSPO) under 10-year contracts, CEO Ahmed Haseeb told Asharq Business<\/a> reports. Gewan currently manages four NSPO hotels in Alamein and will take over a fifth in Cairo\u2019s Nasr City. Egypt could contribute 30% of Gewan\u2019s revenues by 2028, Haseeb said. <\/p>\n

In the pipeline:<\/strong> The company signed agreements for a 240-room hotel in New Cairo \u2014 set for completion in August 2026 \u2014 and an 800-room hotel in Hurghada, with completion set for 4Q 2026. Gewan is also eyeing Sharm El Sheikh and Marsa Alam, Haseeb said, adding that the hotels they are eyeing could require potential renovations of up to USD 150k per room.<\/p>\n

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#3- New infrastructure and renewables projects in Fujairah? <\/strong>Etihad Water and Electricity (EtihadWE), Al Dahra Agriculture, and Fujairah Municipality inked a cooperation agreement to accelerate sustainable development in Fujairah, according to a press release<\/a>. The three entities will establish a framework to support and develop critical infrastructure, particularly in water efficiency, food security, and creating sustainability-linked jobs.<\/p>\n

Future expansion: <\/strong>The collaboration is planned to expand over the next few months to explore joint initiatives in renewable energy, water conservation and food systems.<\/p>\n

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<\/a> #4- <\/strong>DP W<\/strong>orld launched a tender for a new GBP 72 mn container storage yard at its<\/strong> London Gateway Terminal<\/strong>, according to a UK government statement<\/a>. The yard \u2014 set to be located at the fifth berth at the port \u2014 is slated for construction in December this year and scheduled for completion in June 2027. Firms have until 16 June to submit their bids.<\/p>\n

Big plans for the hub:<\/strong> DP World aims for London Gateway to be the biggest container port in the UK in terms of trade volumes within the next five years. The firm committed<\/a> GBP 1 bn (c. USD 1.3 bn) in investments for the port. DP World opened its first all-electric berth at London Gateway \u2014 berth four<\/a> \u2014 which increased port capacity by more than a third in November.<\/p>\n

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#5- UAE floated as neutral venue for India-Pakistan talks amid ceasefire: <\/strong>Pakistan\u2019s Deputy Prime Minister Ishaq Dar proposed the UAE and Saudi Arabia as potential neutral venues for future composite talks with India, contingent on New Delhi\u2019s readiness for dialogue, Arab News<\/a> reports. The potential talks would follow a ceasefire agreement signed on 10 May following a spike in cross-border violence in the wake of a deadly gun attack in Kashmir that killed 26 tourists. <\/p>\n

PSAs- <\/p>\n

#1- Emirates adds additional flights for Hajj: <\/strong>Emirates airlines has added 33 flights to Jeddah and Medina in a bid to meet the heightened demand for Hajj during Eid Al Adha, according to a statement<\/a>. The flights are scheduled from Saturday, 31 May until between 10-16 June in time for Hajj. The airline is expecting 33k passengers to travel for the pilgrimage.<\/p>\n

More regional flights as well: <\/strong>There will also be an extra 13 flights between the UAE and regional destinations including Amman, Dammam, Kuwait and Bahrain.<\/p>\n

#2- Air Arabia Abu Dhabi to launch seasonal flights to Egypt: <\/strong>Abu Dhabi\u2019s low-cost carrier Air Arabia will launch seasonal flights between Abu Dhabi and Egypt\u2019s Sphinx airport in Giza, according to a statement<\/a>. The new service will run from 26 June until 11 September, with three flights running per week throughout the period. <\/p>\n

<\/a> #3- AND- Flydubai is the first UAE carrier who is set to resume flights to Damascus in <\/strong>Syria, as of 1 June<\/strong>, following a 12-year hiatus, according to a statement<\/a>. Flights between the UAE and Syria were resumed earlier in April<\/a>, as most airlines resume flights to the country following the ouster of former president Bashar Al Assad. A Syrian Airlines flight to Sharjah<\/a> was the first to take off from Damascus International Airport in January<\/p>\n

HAPPENING NEXT WEEK- <\/p>\n

#1- The Dubai Chamber of Commerce is set to go on a trade mission<\/strong> to the Philippines<\/strong> and Thailand from 26 to 30 May<\/strong>, Wam<\/a> reports. The delegate will include representatives of companies operating in sectors like food and beverages, automotive, and electronics, who will participate in meetings and sessions with their counterparts in Thailand and the Philippines to explore collaboration prospects. <\/p>\n

#2- The <\/strong>SAMENA Council Leaders' Summit<\/a><\/strong> is happening n<\/strong>ext Monday<\/strong> in Madinat Jumeirah in Dubai. Policymakers, investors, regulators, and industry execs will meet for discussions and roundtables on the digital economy, tech, and telecoms across South Asia, the Middle East, and North Africa regions.<\/p>\n

#3- The <\/strong>Arab Media Summit<\/a><\/strong> is running from Monday until Wednesday <\/strong>at the World Trade Center in Dubai. Sessions will discuss public media, strategies for collaboration with the private sector, public communication, and digital platforms.<\/p>\n

#4- The <\/strong>INDEX<\/a><\/strong>, <\/strong>Workspace<\/a><\/strong>, and <\/strong>The Hotel Show<\/a><\/strong> exhibitions will be on from Tuesday until <\/strong>Thursday <\/strong>at the Dubai World Trade Center. Workspace will bring together over 33k visitors and more than 920 exhibitors, will showcase new technologies and interior designs for office spaces and commercial real estate. Index and The Hotel Show showcase innovations in interior design, architecture, and hospitality, and connect buyers with exhibitors.<\/p>\n

#5- <\/strong>The Emirates Agriculture Conference and Exhibition<\/a><\/strong> will be running from<\/strong> Wednesday until Saturday <\/strong>at the Adnec Center Al Ain in Abu Dhabi. International experts will meet to discuss sustainable agricultural production and global food challenges, while local agricultural exhibitors will showcase local crops from the UAE.<\/p>\n

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

A handful of big stories are making the rounds in the foreign press today:<\/strong><\/p>\n

#1- Two Israeli embassy staff in the US were killed in a fatal shooting in Washington on Wednesday night<\/strong>, and the suspect, Elias Rodriguez, was charged with their murder. He is accused of opening fire on a group of people as they left an event hosted by the American Jewish Committee. Officials allege it was an antisemitic hate crime, and say he shouted \u201cFree Palestine\u201d as he was taken into custody. (Reuters<\/a> | Wall Street Journal<\/a> | Bloomberg<\/a> | Guardian<\/a> | New York Times<\/a>) <\/p>\n

#2- No more international students at Harvard? <\/strong>Trump\u2019s administration has reportedly halted Harvard University\u2019s ability to enroll foreign students, with thousands of currently enrolled students at risk of losing their legal status if they do not drop out, the New York Times<\/a> reports, citing a Homeland Security department letter it has seen and sources in the know. The move comes as the Trump administration takes aim at the country\u2019s higher education sector, and following an investigation into its admission policies from the Justice Department that requested records for international students. The university said it is \u201cfully committed\u201d to keeping its international students and scholars on board. <\/p>\n

It is expected that the university will launch a second legal challenge against the administration<\/strong>, after launching one last month following the government\u2019s attempt to impose changes to its curriculum, admissions policies and hiring practices.<\/p>\n

The story got ink<\/strong> in The Guardian<\/a>, the Financial Times<\/a>, Reuters<\/a>, and Bloomberg<\/a>. <\/p>\n

#3- The US House of Representatives narrowly passed US President Donald Trump\u2019s sweeping tax-cutting bill yesterday <\/strong>by a single vote, following days of wrangling over a bill that could impact the country\u2019s already widening budget deficit. The planned spending cuts, which are set to affect healthcare and clean energy specifically, are not expected to offset tax cuts (which will include income tax, and taxes on tips and overtime pay), and could add USD 3 tn to overall US debt, analysts say. What Trump is calling his \u201cbig, beautiful bill\u201d will now be heading to the senate. Shares in US renewables firms plummeted following the news. (FT<\/a> | Semafor<\/a> | WSJ<\/a> | AP<\/a>)<\/p>\n

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

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