{"id":87942,"date":"2024-01-15T00:00:00","date_gmt":"2024-01-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/its-issue-001-of-enterpriseam-uae\/"},"modified":"2024-01-15T00:00:00","modified_gmt":"2024-01-15T00:00:00","slug":"its-issue-001-of-enterpriseam-uae","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/01\/15\/its-issue-001-of-enterpriseam-uae\/","title":{"rendered":"It\u2019s issue #001 of EnterpriseAM UAE"},"content":{"rendered":"

Good morning, wonderful people, and welcome to the first official issue of EnterpriseAM <\/strong>UAE<\/strong>, your essential daily report on business, finance, the economy, and regulation in one of the world\u2019s most exciting economies. <\/p>\n

Enterprise is read by hundreds of thousands of senior people around the world<\/strong> \u2014 by business leaders, investors, regulators, public officials, and diplomats who need the inside track on news that will move markets, drive investment decisions, and set the corporate agenda in the UAE. They all share three characteristics: They are ambitious, they are curious about the world around them, and they want to make a difference. <\/p>\n

We\u2019re honored to be launching in partnership with our friends at Mashreq<\/strong>, a UAE-born multinational champion that for more than five decades has helped individual and corporate clients alike take charge of their financial futures. One of the UAE\u2019s best-performing banks, Mashreq\u2019s growing footprint spans the Middle East and North Africa with a strong presence in the financial capitals of the world, including in Europe, Asia, Africa, and the United States.<\/p>\n

Mashreq combines the entrepreneurial spirit of Dubai with enduring trade banking <\/strong>relationships across the region. <\/strong>It\u2019s that same spirit and view of an interconnected region that saw us bring Enterprise to life back in 2014. We owe a deep debt of gratitude to Mashreq Group CEO Ahmed Abdelaal and his team<\/strong> for making this possible. We are honored to count them among our friends.<\/p>\n

EnterpriseAM UAE is a daily subscription-only report delivered at 7am UAE \/ 6am KSA \/ <\/strong>7am Egypt. <\/strong>For nearly 10 years, we\u2019ve been trusted by C-suite executives, directors, fund and portfolio managers, entrepreneurs, senior managers, non-execs, investment relations officers, researchers, analysts, and diplomats around the world <\/p>\n

Want to pitch us on a story or interview, meet for coffee, or otherwise get to know us <\/strong>better? <\/strong>Email uae@enterprise.news<\/a>. <\/p>\n

** Were you forwarded today\u2019s issue? <\/strong>Tap or click here to subscribe<\/a><\/strong>and get your own copy in your inbox each day. <\/p>\n

Or head to our website<\/a><\/strong>to check out back issues, previous coverage, or explore our other reports across the MENA region. <\/p>\n

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

<\/a> THE US ELECTION IS OFFICIALLY UPON US- Candidates for the Republican <\/strong>presidential nomination are urging supporters to turn out <\/strong>for the party\u2019s first nominating contest today despite bone-chilling cold <\/strong>as an Arctic front moves across the United States, with some 110 mn people under wind-chill warnings this morning. <\/p>\n

The Iowa caucuses are the first party-level contests<\/strong> that will determine the two candidates who face off in the fall election.<\/p>\n

The real race is to see who is going to come in second: <\/strong>Former President Donald Trump looks set to come out on top in the caucuses, with a key poll on Saturday night giving him the support of 48% of all caucus-goers. Former diplomat Nikki Haley is second with 20%, edging out Florida Governor Ron Desantis with 16%. <\/p>\n

The news is everywhere in the global business press<\/strong> (FT<\/a> | WSJ<\/a> | Reuters<\/a> | Bloomberg). Follow Politico<\/a>, Axios<\/a> and the New York Times\u2019 liveblog<\/a> for daylong coverage if that\u2019s your thing. <\/p>\n

Sound smart:<\/strong> Pundits think that while Trump will take Iowa, Haley is showing momentum and could put in a strong showing in New Hampshire<\/a>, where the Republican primary takes place on 23 January. It\u2019s an open question, though, whether any Republican challenger has what it takes to beat Trump<\/a>.<\/p>\n

ALSO- <\/strong>Ikea, Volvo<\/a><\/strong>, and <\/strong>Tesla<\/a><\/strong> are among the European manufacturers forecasting <\/strong>shortages of goods <\/strong>amid the ongoing disruption of shipping through the Red Sea.<\/p>\n

AND- <\/strong>Six pro-Palestinian activists have been arrested in the UK after plotting to disrupt <\/strong>trading at the London Stock Exchange<\/strong>, the Financial Times<\/a> reports.<\/p>\n

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HAPPENING TODAY-<\/p>\n

<\/a> It\u2019s day one of Davos:<\/strong>The World Economic Forum<\/a> (WEF) kicks off today and runs until 19 January in Switzerland under the theme \u201crebuilding trust.\u201d <\/p>\n

The UAE is heading to Davos in force: <\/strong>Over 100 Emirati personalities, 80% of whom are from major national companies and the private sector, will participate in the forum. They will join international heavyweights from politics, business and civil society. <\/p>\n

This year\u2019s theme is \u201crebuilding trust.\u201d<\/strong> The official launch is today, but the heavier sessions will get properly underway starting tomorrow through Friday.<\/p>\n

You can check out the forum\u2019s official teaser agenda <\/strong>here<\/a><\/strong>.<\/strong><\/p>\n

<\/a> MEANWHILE- Investors have until Wednesday to subscribe to Lunate\u2019s India ETF<\/strong>, the GCC\u2019s first exchange-traded fund (ETF) tracking Indian stocks. Buyers can place orders through the ADX eIPO portal<\/a> or via authorized participants, Lunate Capital said in a statement<\/a>. The asset manager kicked off the subscription period on Friday and is set to debut the ETF on the ADX on 26 January. <\/p>\n

About the ETF: <\/strong>Lunate\u2019s Chimera S&P India Shariah ETF will track the performance of Shariah-compliant equities listed on the Bombay Stock Exchange. The fund comes after Indian stocks rallied<\/a> in 2023 on the back of stronger than expected economic growth, solid company earnings, domestic mutual fund inflows and lackluster growth in China<\/a>. <\/p>\n

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MORNING MUST READ- <\/p>\n

<\/a> Execs in the UAE and Saudi Arabia are concerned about how they and their companies <\/strong>will both keep up with rapid technological change<\/strong>, but 80% of them are optimistic about how their companies will fare this year and 85% have confidence in the economies in which they do business, according to the 2024 AlixPartners\u2019 Disruption Index.<\/p>\n

The regional carve-out from the 11-country survey includes 50 UAE and 50 Saudi execs<\/strong>, according to the report (pdf<\/a> | website<\/a>). The report surveyed 3k execs, half of them members of the C-suite and half of them working at companies worth USD 1 bn or more, in 10 industries ranging from automotive and energy to financial services, healthcare, technology, and telecoms. <\/p>\n

Some 90% of regional execs surveyed say they thrive on disruption<\/strong>, well ahead of the 75% who said the same globally, according to Arabian Business<\/a>, which spoke with AlixPartners\u2019 Middle East chief, Gabriel Chahine.<\/p>\n

CEOs in the region and around the world are most concerned about the pace of tech <\/strong>change <\/strong>as generative AI becomes a factor in more businesses. While most respondents say their boards and shareholders are responsive to the need to change business models:<\/p>\n