{"id":87891,"date":"2023-12-18T00:00:00","date_gmt":"2023-12-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/this-morning-adnoc-is-taking-over-ocis-stake-in-fertiglobe-adq-has-its-eyes-on-db-schenker\/"},"modified":"2023-12-18T00:00:00","modified_gmt":"2023-12-18T00:00:00","slug":"this-morning-adnoc-is-taking-over-ocis-stake-in-fertiglobe-adq-has-its-eyes-on-db-schenker","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2023\/12\/18\/this-morning-adnoc-is-taking-over-ocis-stake-in-fertiglobe-adq-has-its-eyes-on-db-schenker\/","title":{"rendered":"THIS MORNING: ADNOC is taking over OCI\u2019s stake in Fertiglobe + ADQ has its eyes on DB Schenker"},"content":{"rendered":"

Good morning, wonderful people<\/strong>, and welcome to a fresh week. We have a relatively busy issue with which to start this Monday morning, with plenty of business and capital markets news.<\/p>\n

THE BIG STORY AT HOME is the Abu Dhabi National Oil Company (Adnoc) snapping up <\/strong>an additional 50% stake in its JV with OCI, Fertiglobe.<\/strong> The two companies established Fertiglobe back in 2019 and it has since become the largest fertilizer producer in the MENA region. <\/p>\n

<\/a> WATCH THIS SPACE- <\/strong>Abu Dhabi sovereign wealth fund ADQ has reportedly expressed interest in acquiringglobal supply chain and logistics solutions provider DB Schenker, RailFreight<\/a> reports, citing German media. The logistics company is said to be selling 100% of its shares, with the official bidding process still pending. Potential buyers include the Danish transport and logistics company DSV, Germany\u2019s DHL Group, shipping companies Maersk and MSC, and Dubai\u2019s DP World. Analysts estimate the value of Schenker to be between EUR 10-20 bn.<\/p>\n

** You\u2019re reading Zero Issue #15 of EnterpriseAM UAE. <\/strong><\/p>\n

** Think of a zero issue as a \u201cbeta.\u201d<\/strong> This issue has not been published or distributed to a wide audience. <\/p>\n

** Did you receive this as a forward?<\/strong> Email editorial@enterprisemea.com and let us know if you\u2019d like to be added to our list of beta readers ahead of our launch.<\/p>\n

** Have a comment, criticism, or story tip? <\/strong>Hit up patrick@enterprisemea.com<\/a>. <\/p>\n

<\/a> PSA #1- Complimentary Wi-Fi for Abu Dhabi residents: <\/strong>Abu Dhabi\u2019sDepartment of Municipalities and Transport (DMT) launched public Wi-Fi coverage without charge across the emirate. Internet service provider Hala will provide Wi-Fi for a string of locations, including public buses, beaches, and 19 public parks, according to a media release<\/a>. The move is designed to boost the \u201csmart city development\u201d of Abu Dhabi, which currently ranks 13 out of 141 cities in the 2023 IMD Smart City Index report<\/a>. <\/p>\n

<\/a> PSA #2- If you toil in Microsoft Teams, your files app is about to become a whole lot more <\/strong>useful.<\/strong> The Redmond-based tech giant is rolling out a new OneDrive integration for Teams that will take away the useless Files tab in your chat and replace it with the baked-in OneDrive app. The updated experience \u2014 familiar to anybody who has used OneDrive on the web \u2014 is rolling out this month to users of \u201cnew\u201d Teams<\/a>. \u201cOld\u201d Teams users will get it sometime in January; Microsoft has no plans right now to roll it out to its mobile app. <\/p>\n

You can get an early peek here<\/a><\/strong>if it hasn\u2019t rolled out to your app yet. <\/p>\n

Two people suffered minor injuries after a section of Al Mulla Plaza in Dubai <\/strong>collapsed on Saturday night. <\/strong>The incident was caused by improper storage of heavy material. Dubai police said on Sunday that the relevant authorities took quick action, with various departments ensuring the safety of everyone involved, Gulf News<\/a> reports. <\/p>\n

\n

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<\/a> CONDOLENCES-<\/strong> It\u2019s the third and final day of mourning across the country after President Mohamed bin Zayed Al Nahyan declared a mourning period for Kuwait\u2019s ruling Emir, Sheikh Nawaf Al Ahmad Al Sabah, who died on Saturday aged 86, Khaleej Times<\/a> reports. Fujairah Ruler Hamad bin Mohammed Al Sharqi was in Kuwait yesterday<\/a> to pay his respects and offer condolences on bin Zayed\u2019s behalf. The emir had been admitted to hospital for an emergency health problem at the end of November<\/a>. <\/p>\n

Al Sabah\u2019s half-brother, Crown Prince Sheikh Mishal Al Ahmad Al Sabah, has been <\/strong>announced as the new emir<\/strong>, according to a Kuwaiti cabinet statement<\/a>. President Sheikh Mohamed bin Zayed Al Nahyan has declared a three-day mourning period, according to a presidential court<\/a> statement. (New York Times<\/a> | Financial Times<\/a> | France24<\/a> | CNN<\/a> | AP<\/a> | Reuters<\/a>)<\/p>\n

\n

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<\/a> MORNING MUST-READ- Remember the meltdown of Germany\u2019s wirecard back in 2020? <\/strong>The missing USD 2 bn? Turns out its COO was a Russian agent <\/strong>\u2014 and that he was using Wirecard to channel money to espionage operations around the world. Go read He\u2019s wanted for wirecard\u2019s missing USD bn. He\u2019s now suspected of being a Russian spy<\/a> in the Wall Street Journal. <\/p>\n

Runner up: Wherein the New York Times (once more) indulges its inner Orientalist<\/strong> and introduces its readers to the mysterious concept know as \u201cthe majlis.\u201d<\/a> The gray lady, which the WSJ<\/a> reports is dealing with something of a newsroom rebellion by the non-woke this morning, credits a \u201cchange-makers majlis\u201d for breaking the deadlock at COP28 in Dubai. (Was that just last week?)<\/p>\n

\n
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\n Get Enterprise<\/b> daily
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The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

Subscribe here<\/a>\n <\/div>\n<\/p><\/div>\n<\/div>\n

CIRCLE YOUR CALENDAR-<\/strong><\/p>\n

This week:<\/strong> Legendary Iranian songster Ebi is playing at the Dubai Opera<\/a> tomorrow. <\/p>\n

This weekend:<\/strong> There\u2019s a star-studded line-up at the World Tennis league<\/a>, which hits Abu Dhabi\u2019s Etihad Arena from 21-24 December (Thursday-Sunday). Women\u2019s World No 1 Iga Swiatek and Men\u2019s World No 3 Daniil Medvedev are among those lacing up. <\/p>\n

If tennis isn\u2019t your thing, the event will also be jam-packed with shows<\/strong> from high-profile music stars, including Neo, Akon and 50 Cent.<\/p>\n

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":"

Good morning, wonderful people, and welcome to a fresh week. We have a relatively busy issue with which to start this Monday morning, with plenty of business and capital markets news. THE BIG STORY AT HOME is the Abu Dhabi National Oil Company (Adnoc) snapping up an additional 50% stake in its JV with OCI, […]<\/p>\n","protected":false},"author":1,"featured_media":87892,"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":[72,46,7,6],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-87891","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-adq","tag-db-schenker","tag-enterpriseam-uae","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"f8d90282-5599-4964-abab-917116b95ef6","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2023\/1\/698.jpg","photo_position":"above","homepage_title":"","full_issue_title":"THIS MORNING: ADNOC is taking over OCI\u2019s stake in Fertiglobe + ADQ has its eyes on DB Schenker","related_issue":[87889],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.47684777-970b-4604-8e1d-a43958d7cfb8.mp3"},"yoast_head":"\nTHIS MORNING: ADNOC is taking over OCI\u2019s stake in Fertiglobe + ADQ has its eyes on DB Schenker - UAE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/uae\/2023\/12\/18\/this-morning-adnoc-is-taking-over-ocis-stake-in-fertiglobe-adq-has-its-eyes-on-db-schenker\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS MORNING: ADNOC is taking over OCI\u2019s stake in Fertiglobe + ADQ has its eyes on DB Schenker\" \/>\n<meta property=\"og:description\" content=\"Good morning, wonderful people, and welcome to a fresh week. 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We have a relatively busy issue with which to start this Monday morning, with plenty of business and capital markets news. 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