{"id":106699,"date":"2025-08-20T00:00:00","date_gmt":"2025-08-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/this-morning-uae-and-philippines-trade-agreement-to-be-inked-within-weeks-warburg-pincus-secures-dubai-license\/"},"modified":"2025-08-20T00:00:00","modified_gmt":"2025-08-20T00:00:00","slug":"this-morning-uae-and-philippines-trade-agreement-to-be-inked-within-weeks-warburg-pincus-secures-dubai-license","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/08\/20\/this-morning-uae-and-philippines-trade-agreement-to-be-inked-within-weeks-warburg-pincus-secures-dubai-license\/","title":{"rendered":"THIS MORNING: UAE and Philippines\u2019 trade agreement to be inked within weeks + Warburg Pincus secures Dubai license"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning and happy hump day. <\/strong>It\u2019s still somewhat busy on the home turf as we edge closer to back-to-school week and the return of traffic. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG STORY here at home<\/strong> is <strong>ADGM\u2019s latest amendments to liquidity and minimum capital floor requirements<\/strong>, as it looks to tighten oversight while adjusting liquidity rules based on firms\u2019 risk profiles. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the energy front<\/strong>, <strong>Hatta\u2019s new hydroelectric power plant has started exporting electricity to Dubai<\/strong> as it kicks off trial operations, and a <strong>Masdar-led consortium secured financing for a 3 GW solar project<\/strong> in Saudi Arabia. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Plus:<\/strong> More real estate data points to a <strong>record 2Q 2025 for residential sales in Dubai<\/strong>, driven by a slew of new launches and sustained demand. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>Expect a hot, partly cloudy day with the possibility of afternoon rain in the east and south, according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/8\/1183.pdf\" style=\"\" rel=\"noopener\">National Center of Meteorology (pdf)<\/a>. Temperatures in <strong>Dubai <\/strong>and<strong> Abu Dhabi<\/strong> hit 41\u00b0C in, with lows of 33\u00b0C. <\/p>\n<p class=\"tag-border-left\">MORNING MUST-READS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt4\"><\/a> <strong>#1- F1 fans, this one\u2019s for you:<\/strong> McLaren Racing is putting three of its upcoming competition cars under the hammer at a Sotheby\u2019s auction in Abu Dhabi on 5 December, the company said in a <a target=\"_blank\" href=\"https:\/\/www.mclaren.com\/racing\/latest-news\/2025\/mclaren-racing-announces-first-of-its-kind-auction-in-collaboration-with-rm-sothebys\/\" style=\"\" rel=\"noopener\">press release<\/a>. The sale includes a 2026 F1 World Championship car, a 2026 <a target=\"_blank\" href=\"https:\/\/www.indycar.com\/\" style=\"\" rel=\"noopener\">NTT Indycar<\/a> Series car, and McLaren\u2019s first FIA World Endurance Championship car for 2027.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The auction marks the first time a future Formula 1 car has been sold publicly<\/strong> before its official debut, with successful bidders set to receive delivery after the cars have competed in their respective series.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2-<\/strong> <strong>Archer completes longest piloted eVTOLs flight, while Joby tests first <\/strong><strong>airport-to-airport<\/strong><strong> flight: <\/strong>US-based electric vertical take-off and landing (eVTOL) aircraft developers Joby Aviation and Archer Aviation have reached another milestone ahead of their planned launch in the UAE, with Joby running its first flight between two public US airports, and Archer seeing its longest flight yet, according to statements <a target=\"_blank\" href=\"https:\/\/www.investors.archer.com\/news\/news-details\/2025\/Archer-Completes-55-Mile-FlightLongest-Yet-For-Piloted-Midnight-Aircraft\/default.aspx#:~:text=Adam%20Goldstein%2C%20Archer'\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.jobyaviation.com\/news\/first-piloted-evtol-air-taxi-flight-between-two-public-airports\/\" style=\"\" rel=\"noopener\">here<\/a>. Joby\u2019s flight between Marina Municipal Airport and Monterey Regional Airport lasted 12 minutes, and saw it integrate into existing air traffic and controlled air space, while Archer saw its longest piloted flight so far with its Midnight series eVTOL covering 55+ miles in 31 minutes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>Both Joby Aviation and Archer Aviation <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/a3f81505-aec8-4afc-ae40-057116745b35\/this-morning:-fuel-prices-up-in-july-%2B-joby-aviation-completes-first-air-taxi%253cmark%253e-test%253c%2Fmark%253e%253cmark%253e-flight%253c%2Fmark%253e-in-dubai\" style=\"\" rel=\"noopener\">have been running test flights<\/a> in the UAE this summer to test their aircrafts\u2019 resilience to the hot Gulf weather, as Archer <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/67210f4b-6e86-48dd-bb41-f632185b75f7\/this-morning:-more-pe-giants-eye-abu-dhabi-%2B-india%25e2%2580%2599s-rbl-bank-denies-reports-of-emirates-nbd-acquisition-talks\" style=\"\" rel=\"noopener\">gears up to launch its first flights later this year<\/a> and Joby launches in Dubai <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/c9da5c2f-75c5-47ca-8ad5-4611bf95779e\/flying-taxis-are-coming-to-the-uae-in-2026\" style=\"\" rel=\"noopener\">early next year<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong>Core42 <\/strong><strong>brings OpenAI\u2019s latest open models to the UAE: <\/strong>State AI firm G42\u2019s subsidiary <a target=\"_blank\" href=\"https:\/\/www.core42.ai\/\" style=\"\" rel=\"noopener\">Core42<\/a> has rolled out OpenAI\u2019s latest open-weight models on its AI Cloud, according to a <a target=\"_blank\" href=\"https:\/\/www.core42.ai\/en\/news\/g42-launches-openai-gpt-oss-globally-on-core42s-ai-cloud\" style=\"\" rel=\"noopener\">press release<\/a>. Models like the gpt-oss-20B and gpt-oss-120B are now accessible through the Core42 Compass AI and can run on multiple silicon platforms.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The launch comes amid efforts by the UAE to cement its place as a global AI power<\/strong>, ranking second worldwide \u2014 just behind the US \u2014 according to <a target=\"_blank\" href=\"https:\/\/www.trgdatacenters.com\/resource\/the-worlds-top-ai-superpowers-in-2025\/\" style=\"\" rel=\"noopener\">TRG Datacenters<\/a>. The ranking puts it ahead of the likes of China, the UK, and India, with Saudi Arabia coming in third. The UAE has more than 188k AI chips, a total computing power of 23.1 mn (H100 equivalents), and a total power capacity of 6.4k MW across eight clusters, according to the Texas-based firm. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER- <\/strong>The country\u2019s AI scene received another boost last May with the unveiling of Abu Dhabi\u2019s planned <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/4e08f167-15b5-4427-8ab1-5ffb2b15bc3f\/g42%25e2%2580%2599s-khazna-partners-up-with-nvidia-to-build-data-centers-in-the-region\" style=\"\" rel=\"noopener\">5 GW UAE-US AI Campus<\/a> during US President Donald Trump\u2019s visit. <\/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- Santos s<\/strong><strong>hares slid as much as <\/strong><strong>4% in<\/strong><strong> Sydney <\/strong>after the Australian gas producer said its USD 18.7 bn takeover by an XRG-led consortium will <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/4695b9e7-da33-4230-a400-153f1ac85d8d\/xrg-led-consortium-needs-four-weeks-before-entering-an-implementation-agreement-for-its-takeover-of-santos\" style=\"\" rel=\"noopener\">face further delays<\/a>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-08-19\/santos-shares-fall-after-another-delay-in-19-billion-takeover?embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. The consortium indicated it needs at least a month to secure final corporate approvals before entering a binding agreement, which is well beyond the 22 August exclusivity period deadline, potentially opening the firm up to rival suitors. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The acquisition still requires approvals from regulators in Australia, Papua New Guinea, and the US, where Santos also holds assets, but the biggest hurdle is Australia's Foreign Investment Review Board, which is expected to be wary of handing over critical energy assets to foreign investors. Including net debt, the transaction would value Santos at an enterprise value of AUD 36.4 bn, positioning it as the largest allcash corporate takeover in Australian history, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/australias-santos-flags-delay-finalising-187-billion-adnoc-led-buyout-2025-08-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a> said citing FactSet.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The delay is triggering more uncertainty around the fate of the acquisition:<\/strong> \u201cThe market is telling you there's increased risk and uncertainty,\u201d Reuters quoted James Hood, Regal Funds Management's senior energy analyst, as saying.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But it\u2019s normal for such a big transaction to be subject to scrutiny:<\/strong> \u201cThis was never going to be an easy transaction to pull off with the confluence of domestic energy security and national interest considerations as well as the multitude of hard to please stakeholders involved,\u201d the newswire reports citing Kaushal Ramesh, vice president, gas and LNG research at Rystad Energy, as saying.<\/p>\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-<\/strong><strong>UAE<\/strong><strong>-Philippines trade agreement incoming? <\/strong>The UAE and the Philippines are preparing to sign a trade and economic partnership agreement in the coming weeks, the <a target=\"_blank\" href=\"https:\/\/www.pna.gov.ph\/articles\/1256908\" style=\"\" rel=\"noopener\">Philippine News Agency<\/a> reports, citing the UAE embassy in Manila. The agreement would be the Philippines' first with a country in the region, covering goods and services, investments, SMEs, digital trade, customs, governance, and sustainability. The two countries began trade talks in 2022.<\/p>\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=\"wwtt3\"><\/a><strong>#3- <\/strong><strong>Warburg<\/strong><strong> Pincus secures Dubai license? <\/strong>US-based private equity firm <a target=\"_blank\" href=\"https:\/\/warburgpincus.com\/\" style=\"\" rel=\"noopener\">Warbur<\/a><a target=\"_blank\" href=\"https:\/\/warburgpincus.com\/\" style=\"\" rel=\"noopener\">g<\/a><a target=\"_blank\" href=\"https:\/\/warburgpincus.com\/\" style=\"\" rel=\"noopener\">Pincus<\/a> has reportedly received full authorization to operate in Dubai after obtaining a license from the Dubai Financial Services Authority (DFSA) in late June, <a target=\"_blank\" href=\"https:\/\/www.fnlondon.com\/articles\/warburg-pincus-picks-dubai-for-middle-east-outpost-85039aca\" style=\"\" rel=\"noopener\">Financial News<\/a> reports, citing regulatory filings on the <a target=\"_blank\" href=\"https:\/\/www.dfsa.ae\/public-register\/firms\/warburg-pincus-difc-limited\" style=\"\" rel=\"noopener\">DFSA website<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-01-20\/warburg-set-to-join-buyout-peers-expanding-to-the-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> had reported earlier this year that the firm is planning to expand to the Gulf, tapping Viraj Sawhney from its Mumbai office to lead operations in the region. It had already had a fundraising presence in the region, led by a Dubai executive. <\/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\"><a id=\"wwtt5\"><\/a> <strong>#1- <\/strong><strong>Issuers from the UAE accounted for 8.7% of all emerging market (EM) USD<\/strong><strong> debt in <\/strong><strong>1H 2025<\/strong>, trailing only behind Saudi Arabia (18.9%) and Brazil (10.6%), Fitch Ratings said in a <a target=\"_blank\" href=\"https:\/\/www.fitchratings.com\/research\/islamic-finance\/core-islamic-finance-markets-are-largest-em-dollar-debt-issuers-19-08-2025\" style=\"\" rel=\"noopener\">statement<\/a>. The GCC as a whole represented 35.5% of issuances, with the region\u2019s debt capital market surpassing USD 1 tn in outstanding issuance as economic diversification strategies, incoming maturities, and financing needs drove demand for financing. Total EM USD debt, excluding China, stood at USD 2.5 tn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sukuk made up 21.9% of the UAE\u2019s outstanding DCM<\/strong>, while across EMs sukuk accounted for 13.7% of all issuances in 1H 2025, up from 12% last year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Companies and banks in EMs, excluding China, sold about <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/0501094d-7e7b-457c-8d60-b5e7fd8f43bc\/emerging-markets%25e2%2580%2599-bond-boom-accelerates-as-investors-bank-on-upcoming-rate-cuts\" style=\"\" rel=\"noopener\">USD 250 bn<\/a> in international bonds between January and July \u2014 the fastest pace since the 2021 post-pandemic boom \u2014 with sovereigns accounting for over USD 160 bn, led by Saudi Arabia. Falling borrowing costs and expectations of Fed rate cuts fueled the surge, with JPMorgan projecting issuances to reach USD 370 bn this year, just shy of the 2021 record.<\/p>\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- Some <\/strong><strong>85%<\/strong><strong> of UAE retail investors are currently invested in local equities<\/strong>, according to eToro\u2019s <a target=\"_blank\" href=\"https:\/\/www.etoro.com\/news-and-analysis\/market-insights\/uae-investors-back-local-stocks\/\" style=\"\" rel=\"noopener\">UAE Retail Investor Beat survey<\/a>. The survey of 1k investors showed 39% hold Abu Dhabi stocks, 28% hold equities listed on the DFM, and 18% hold both. Confidence in the local economy is behind the figures, with some 63% of respondents saying they are \u201cvery confident\u201d in the UAE\u2019s current performance.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the sector: <\/strong>Around 55% of investors identified real estate as the most promising sector for the next 12 months, while 48% were bullish on tech stocks, and 37% were confident in the financial services and energy sectors. Nearly half of the respondents expect strong gains in the UAE\u2019s stock markets this year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>However, 90% expect tariffs and trade wars to significantly impact their portfolios this year<\/strong>, with 89% having already adjusted or planning to adjust allocations. Gold and precious metals are viewed as the most resilient assets (49%), followed by crypto (45%), which remains the most widely held asset class overall at 54%. <\/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\"><strong>#1- No more centralized final exams?<\/strong> The Education Ministry has canceled centralized second semester exams for students in grades 5 to 12, in an effort to reduce stress caused by traditional assessments, <a target=\"_blank\" href=\"https:\/\/gulfnews.com\/uae\/education\/uae-cancels-second-term-exams-for-2025-2026-academic-year-1.500237919\" style=\"\" rel=\"noopener\">Gulf News<\/a> cites Education Ministry Undersecretary Mohammed Al Qasim as saying. The tests will be replaced with continuous, more holistic assessments \u2014 part of broader reforms moving away from high-pressure testing. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More schools, more AI: <\/strong>Nine new public schools are opening at the start of the new academic year, the news outlet quoted Education Minister Sarah Al Amiri as saying at a press conference. Some 1k teachers are also set to teach AI this year, the ministry added, as part of its move to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/e4df2ed4-1449-414b-b848-1c2042665207\/this-morning:-g42-eyes-tens-of-bns-of-investments-in-the-us-%2B-ai-classes-coming-to-uae-schools-next-year\" style=\"\" rel=\"noopener\">introduce AI classes into the education system<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Citizens in Dubai now have a resolution center to hash out home constru<\/strong><strong>ction disputes:<\/strong> Dubai Courts is establishing a Citizens\u2019 Home Construction Dispute Resolution Center at Al Manara dedicated to disputes between citizens and contractors over housing projects, according to <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2025\/august\/19-08\/dubai-municipality-and-dubai-courts-sign\" style=\"\" rel=\"noopener\">Dubai Media Office<\/a>. The center aims to cut litigation times and reduce court backlogs. <\/p>\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>There\u2019s a hodge podge of stories out there this morning<\/strong>, none of which are dominating headlines across the international business press. Among the stories of note: <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The White House is \u201cironing out the details\u201d of a potential acquisition of a 10% stake in <\/strong><strong>chipmaker Intel<\/strong>, White House Press Secretary Karoline Leavitt confirmed yesterday, following reports of the potential agreement over the past few weeks. Leavitt\u2019s confirmation also comes after SoftBank announced earlier this week that it\u2019s acquiring a 2% stake in the chipmaker in an agreement worth USD 2 bn. The government appears to be looking to get the stake in Intel in exchange for grants the company received under the Biden administration, with Treasury Secretary Scott Bessent saying, \u201cThe stake would be a conversion of the grants and maybe increase the investment into Intel to help stabilize the company for chip production here.\u201d (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/media-telecom\/us-wants-equity-stake-intel-cash-grants-approved-under-biden-2025-08-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/036bb89c-b0ab-4e28-963a-1049d9ef5da7\" style=\"\" rel=\"noopener\">Financial Times<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Air Canada is gradually resuming its flight operations after reaching an agreement with<\/strong><strong> flight attendants over their pay<\/strong>, ending a four-day strike that caused the Canadian air carrier to cancel flights and retract its full-year earnings guidance. Air Canada reportedly agreed to compensate flight attendants for their work on the ground prior to the start of a flight \u2014 including boarding passengers \u2014 and will also enact immediate pay increases for flight attendants. (<a target=\"_blank\" href=\"https:\/\/www.cbc.ca\/news\/business\/air-canada-contract-dispute-flight-attendants-1.7612403\" style=\"\" rel=\"noopener\">CBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/world-at-work\/air-canada-resume-service-flight-attendants-union-ends-strike-2025-08-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The US and NATO are working on putting together a package of security assurances for<\/strong><strong> Kyiv after the end of Ukraine\u2019s war with Russia<\/strong>, after Ukraine\u2019s Volodymyr Zelensky met with US President Donald Trump in Washington earlier this week. The package could take shape as early as this week, ahead of a potential meeting between Zelensky and Russian President Vladimir Putin. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/us-nato-planners-start-craft-ukraine-security-guarantee-options-2025-08-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-08-19\/europe-races-to-leverage-trump-s-support-for-ukraine-troop-plan?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/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 and Hassan Allam Properties.&nbsp;<a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/user\/news-letters\" rel=\"noopener\">Tap or click here<\/a><span style=\"background-color: transparent;\"> to get your own copy of EnterpriseAM UAE.<\/span><\/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>, and the MENA <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\" style=\"\" rel=\"noopener\">logistics<\/a> industry?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">***<\/p>\n<p class=\"tag-border-left\"> OIL WATCH- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Extra Russian oil to China pressures Dubai crude: <\/strong>Chinese refiners have booked at least 15 cargoes of Russian Urals and Varandey crude for October and November delivery, a shift that could dent demand for Middle Eastern grades priced USD 2-3 per barrel higher, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/chinese-refiners-sweep-up-russian-oil-after-indian-demand-falls-analysts-say-2025-08-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing analysts. The extra supply lands as the Dubai market is already softening on weaker seasonal demand and rising arbitrage flows.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Behind the shift: <\/strong>India, until now the main buyer of discounted Russian crude, has cut imports by some 600k-700k bbl\/d as markdowns narrowed \u2014 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/b7e48c15-ed9e-4d05-88fa-18aa9201e19a\/this-morning:-wall-street-perks-now-in-demand-across-uae-funds-amid-cutthroat-competition-%2B-adnoc-distribution-plans-ksa-expansion\" style=\"\" rel=\"noopener\">prompting<\/a> some refiners, including <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/6a24c02d-dd73-4a31-9210-4257419d68db\" style=\"\" rel=\"noopener\">Reliance<\/a>, to pivot back to MENA barrels like Abu Dhabi\u2019s Murban. That opened space for Chinese state-owned and independent refiners, who snapped up the cargoes earlier this month. Even so, Beijing\u2019s Russia intake remains modest at about 50k bbl\/d y-t-d, as the grade is not a baseload feedstock for its majors.<\/p>\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 Spring\/Summer edition of <\/strong><strong><a target=\"_blank\" href=\"https:\/\/dubaifashionweek.org\/calendar\/\" style=\"\" rel=\"noopener\">Dubai Fashion Week<\/a><\/strong> <strong> will run from Monday, 1 September <\/strong><strong>until Saturday, 6 September at Dubai <\/strong><strong>Design District (d3)<\/strong>, ahead of the New York, London, Milan, and Paris fashion weeks. The edition will showcase more than 30 brands from the UAE, Europe, India, and beyond, with runway shows, private events, and an expanded buyers\u2019 program.<\/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:\/\/mena.b.tc\/\" style=\"\" rel=\"noopener\">BTC MENA Conference<\/a><\/strong><strong>will take place on Monday, 8 December and Tuesday, 9 De<\/strong><strong>cember at the Adnec Center Abu Dhabi.<\/strong> Headlined by Michael Saylor, co-founder and executive chairman of Strategy, the event will feature talks, workshops, and exhibitions focused on BTC and digital finance. Last year\u2019s debut drew global names, including Saifedean Ammous and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/3b8fad40-c40d-4634-9c08-3b0435cd1e89\/this-morning:-talabat-debuts-on-the-dfm-today-%2B-abu-dhabi-eyes-aed-450-bn-in-public-private-infrastructure-projects\" style=\"\" rel=\"noopener\">Eric Trump<\/a>, and attracted backing from Binance, eToro, and M2.<\/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","protected":false},"excerpt":{"rendered":"<p>Plus: McLaren to auction off three racecars for the first time in Abu Dhabi later this year<\/p>\n","protected":false},"author":1,"featured_media":106700,"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":[1360,74,610,306,1897,1391,130,313,7,226,693,599,1342,1344,266,1334,1285,6],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-106699","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-abu-dhabi","tag-adx","tag-artificial-intelligence","tag-aviation","tag-core42","tag-debt","tag-dfm","tag-education","tag-enterpriseam-uae","tag-equities","tag-fitch-ratings","tag-g42","tag-investment","tag-ma","tag-oil-and-gas","tag-trade","tag-uae-philippines-relations","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"0f1406a8-28bd-431b-b6fa-f27b4ac27f80","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2025\/2\/949.jpg","photo_position":"above","homepage_title":"","full_issue_title":"THIS 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