{"id":112012,"date":"2026-03-02T00:00:00","date_gmt":"2026-03-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?p=112012"},"modified":"2026-03-02T15:20:46","modified_gmt":"2026-03-02T15:20:46","slug":"this-morning-intl-players-assess-uae-operations-amid-strikes-opec-to-raise-production-in-april","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2026\/03\/02\/this-morning-intl-players-assess-uae-operations-amid-strikes-opec-to-raise-production-in-april\/","title":{"rendered":"THIS MORNING: Int\u2019l players assess UAE operations amid strikes + Opec to raise production in April"},"content":{"rendered":"

Good morning, everyone. <\/strong>We hope you\u2019ve all been safe and doing well amid all that\u2019s been happening here at home and across the region. Things have been almost eerily quiet from where we are in Dubai, with the occasional loud sounds outside our windows earlier in the night (which Dubai authorities have confirmed are the sounds of interceptions of missiles and drones in the air). Overnight, though, many have reported hearing military aircraft \u2014 still an unfamiliar sound in Dubai \u2014 overhead. <\/p>\n

No safety alerts have been sent out to our phones since Saturday night<\/strong>, and those in Abu Dhabi were advised to \u201cresume normal activities\u201d yesterday after receiving earlier alerts to stay indoors. The videos on social media have not stopped circulating, however, with videos of smoke blowing out of various spots across Dubai and Abu Dhabi, drones hitting apartments, and more making their way across X and WhatsApp groups. <\/p>\n

Many supermarkets and shops \u2014 though not all \u2014 have remained open, and delivery <\/strong>scooters are still to be found on the streets<\/strong> across the country, with home delivery accessible on all the popular delivery apps. Some people were panic-buying at supermarkets on Saturday, prompt<\/a>ing the government to<\/a>reassure residents<\/a> of \u201cample supplies\u201d and advise against stockpiling.<\/p>\n

The situation in Abu Dhabi is also notably calm<\/strong> with the exception of ongoing sounds of missile interceptions and some cases of fallen debris, damage, and injuries, including a minor incident<\/a> in the Etihad Towers yesterday afternoon. <\/p>\n

<\/a> <\/a> Several <\/strong>tourist spots <\/strong>suspended operations<\/a><\/strong> yesterday<\/strong> as a precautionary <\/strong>measure, <\/strong>including Dubai\u2019s Global Village and Dubai Parks and Resorts. Ras Al Khaimah\u2019s Jebel Jais and Abu Dhabi\u2019s Abrahamic Family House also closed temporarily.<\/p>\n

At least there\u2019s \u2026 not as much traffic in the streets? Expect the relative lack of gridlock <\/strong>to continue over the next few days. Schools <\/strong>will operate remotely<\/a><\/strong> until Wednesday<\/strong> and most people we\u2019ve spoken to have heard from their employers about remote work plans for the week ahead. <\/p>\n

The Human Resources and Emiratization Ministry advised companies to implement <\/strong>remote working<\/strong> for three days<\/strong> starting yesterday through Tuesday, 3 March, according to a post on X<\/a>. The DIFC also advised the same for those who can work remotely.<\/p>\n

Global banks and investors are assessing how to respond to the shocks. <\/strong>Bloomberg<\/a> reports some hedge funds are already looking at business continuity plans, while banks like JPMorgan and Citigroup have instructed workers to work from home.<\/p>\n

Others have acted fast at the first signs of distress: <\/strong>Japan\u2019s top liquefied natural gas buyer, Jera, evacuated its staff in the Middle East, Bloomberg<\/a> reports separately. Another report suggests<\/a> that senior executives at some finance firms and high-net-worth individuals have left Dubai for Riyadh \u2014 which has the only operating airport in the region \u2014 in SUVs, before taking private charters out of the Saudi capital. Cue the price gauging\u2026<\/p>\n

One thing\u2019s certain: The \u201csafe haven\u201d bubble that was the UAE \u2014 and its neighbors in <\/strong>the region \u2014 has burst for now. <\/strong>Previously glitzy and untouched places like Dubai\u2019s hotels, residential towers and villas, and Dubai and Abu Dhabi\u2019s airports have suffered unprecedented damage. And while most of it will likely be easily repaired, the fear that has shaken expats and tourists alike might leave a lasting imprint.<\/p>\n

^^ We have more on the extent of the damage that has taken place over the weekend, and more importantly, what could be at stake<\/strong> for the macro forecast, for industries like tourism and aviation, and much more in this morning\u2019s War Watch, below. <\/p>\n

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From The Dept. of Minor Inconveniences<\/p>\n

Our website is down:<\/strong> EnterpriseAM.com<\/a> is one of the many, many services hosted on Amazon Web Services out of the UAE. The data center that hosts our site \u2014 and the apps and websites of dozens of other brands you know \u2014 was damaged after \u201cobjects hit\u201d it, reportedly starting a fire and leading to a power outage. Our site has been down since mid-afternoon on Sunday and we\u2019re yet to hear from Amazon when we can expect it to be back up.<\/p>\n

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WEATHER- It\u2019s going to get very hot before it gets cold. <\/strong>Expect the mercury to rise to a sweltering 35\u00b0C today, while Abu Dhabi will see an even higher peak of 36\u00b0C, before both cool to 22\u00b0C overnight. This comes before a cold wave is set to hit the country as of Wednesday, with rainfall also expected. <\/p>\n

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Watch this space<\/p>\n

<\/a> M&A \u2014 Emirates NBD encounters stiff competition in India\u2019s biggest bank sale:<\/strong> Canada\u2019s Fairfax Financial has emerged as the frontrunner to acquire a 61% stake in Indian state-owned IDBI Bank \u2014 a roughly USD 8.1 bn transaction at current prices and potentially the largest foreign investment in India\u2019s banking sector, Bloomberg<\/a> reports, citing people it says are familiar with the matter. Fairfax, led by Indian-born Canadian b\u2019naire Prem Watsa, is said to be ahead in advanced talks, though no agreement has been signed.<\/p>\n

REFRESHER- <\/strong>As we\u2019ve previously reported<\/a>, Emirates NBD had secured fit-and-proper clearance from India\u2019s central bank in December. The Dubai lender is also working on its USD 3 bn RBL Bank acquisition<\/a>, with plans<\/a> to fold its Indian branches into RBL as it builds a longer-term platform in India\u2019s expanding credit market, the sources said.<\/p>\n

The bigger picture? Gulf capital is leaning further into Indian finance.<\/strong> Abu Dhabi\u2019s IHC acquired a controlling stake in Sammaan Capital for USD 1 bn last year<\/a>, signaling a regional appetite for the sector. Separately, the UAE and India signed new agreements<\/a> this year targeting USD 200 bn in bilateral trade by 2032, while India and the GCC formally launched negotiations last month<\/a> toward a trade pact.<\/p>\n

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<\/a> <\/a> M&A \u2014 <\/strong>Dubai\u2019s<\/strong> USD 3.5 bn swing at Morocco\u2019s refinery hits regulatory wall. <\/strong>A Casablanca court declared inadmissible an offer by Dubai-based MJM Investments for Morocco\u2019s only refinery, Samir, which has been under judicial liquidation since 2016, Asharq Business<\/a> reports, citing documents it has seen. The country-appointed receiver met the bidders, but the paperwork didn\u2019t clear the bar.<\/p>\n

Documentation gaps stall Dubai\u2019s bid: <\/strong>MJM submitted an expression of interest and a letter from an international bank signaling intent to finance, but fell short of the full documentation required under liquidation rules \u2014 including bank backing and a comprehensive technical and financial package. Projections, funding structures, acquisition price mechanics, and performance assurances are mandatory for a sale order to proceed. For UAE investors eyeing complex industrial turnarounds, this serves as a reminder of the rigorous rules of engagement in cross-border insolvency.<\/p>\n

BACKGROUND- <\/strong>Samir has been in court-led liquidation for a decade after debts topped USD 4 bn, and roughly 40 local and foreign offers have come and gone without closing. Before shutting down in 2015, Samir covered 64% of Morocco\u2019s refined fuel needs.<\/p>\n

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TRANSPORT \u2014 A<\/strong>bu Dhabi spearheads regional autonomous freighter launch:<\/strong> The Integrated Transport Center (ITC) launched<\/a> the region\u2019s first pilot project for autonomous trucks within Khalifa Economic Zones Abu Dhabi (Kezad). ITC \u2014 in partnership with autonomous vehicle developer Autotech and AD Ports Group \u2014 is supervising test runs along dedicated industrial routes to evaluate AI-based driving systems in real-world logistics environments.<\/p>\n

Why it matters:<\/strong> ITC is moving beyond autonomous passenger transport to tackle the local logistics spine. By using AI to understand local road requirements, the regulator is building the dataset needed to draft the commercial policies that will eventually allow operators to scale these fleets across the emirate\u2019s economic zones.<\/p>\n

What\u2019s next:<\/strong> The pilot will continue to assess the technology\u2019s readiness for full-scale commercial deployment.<\/p>\n

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PSA<\/p>\n

March<\/strong> sees oil price hike: <\/strong>The fuel price committee increased fuel prices across the board for March, with rates climbing as much as 8%, according to an Emirates Petroleum Company post on X<\/a>. This marks the end of a brief period of lower pump prices, after costs dropped in both January<\/a> and February<\/a>.<\/p>\n

Here\u2019s the new breakdown per liter: <\/strong><\/p>\n