{"id":92008,"date":"2024-05-15T00:00:00","date_gmt":"2024-05-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/dubai-ranks-first-in-the-world-for-number-of-fdi-projects-in-2023\/"},"modified":"2024-05-15T00:00:00","modified_gmt":"2024-05-15T00:00:00","slug":"dubai-ranks-first-in-the-world-for-number-of-fdi-projects-in-2023","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/05\/15\/dubai-ranks-first-in-the-world-for-number-of-fdi-projects-in-2023\/","title":{"rendered":"Dubai ranks first in the world for number of FDI projects in 2023"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Good morning, friends. <\/strong><span style=\"background-color: transparent;\">It\u2019s another busy day in our corner of the world as earnings and conference season brings us plenty of news.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s no single big story here at home, but two M&amp;A stories are vying for your attention:<\/strong> The Abu Dhabi Investment Authority is reportedly in talks to acquire a 75% stake as part of a Blackstone-led consortium, while Property Finder has raised USD 90 mn to buy out one of its shareholders.<\/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=\"wwtt1\"><\/a> <strong>#1- Dubai ranked first in terms of greenfield FDI projects for the third consecutive year in <\/strong><strong>2023<\/strong>, according to fDI market data picked up by the <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2024\/may\/14-05\/dubai-ranked-no-1-globally\" style=\"\" rel=\"noopener\">Dubai Media Office<\/a>. The emirate saw some 1k greenfield projects launched during the year, with AED 39.26 bn in capital flows \u2014 the fifth highest city globally. It also saw a total of 1.6k FDI projects \u2014 a 39% y-o-y increase \u2014 with top sectors for FDI including financial services, business services, consumer products, and software and IT services.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By country<\/strong>: The top five countries pouring FDI flows into Dubai were Canada (26.5%), the US (17.5%), Saudi Arabia (8.9%), UK (8.2%), and India (5.5%).<\/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- The Finance Ministry has collected AED 173.6 bn in value-added tax (VAT) and excise <\/strong><strong>tax <\/strong>since the taxes were levied until December last year, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b35d9pt-vat-excise-tax-revenues-reach-aed1736-billion-mof\" style=\"\" rel=\"noopener\">Wam<\/a> reports, citing statements from Finance Ministry Undersecretary Younis Haji Al Khouri. VAT collected at the state level amounted to AED 159 bn, while at the federal level they reached some AED 48 bn since implementation. Meanwhile, revenue from excise tax at the state level amounted to AED 14 bn, while the federal government collected AED 5.2 bn until the end of FY 2023. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The excise tax was introduced in the UAE in 2017, while the 5% VAT was introduced in 2018. <\/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- The UAE\u2019s property sector boasts a pipeline of projects under construction valued at <\/strong><strong>USD 590 bn,<\/strong> a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/research-and-studies\/uaes-resilient-construction-sector-poised-for-growth-momentum-with-high-value-pipeline-of-590bln-in-2024-jll-x8z3ipe7\" style=\"\" rel=\"noopener\">press release<\/a> reads, citing the latest report from real estate consultancy JLL. Mixed-use projects account for 39% of the projects, with a total value of USD 232 bn, while residential developments make up 21% of the pipeline, amounting to USD 125 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The country accounts for 15% of the estimated USD 3.9 tn in projects under construction<\/strong> in the region, according to JLL. <\/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=\"wwtt2\"><\/a> <strong>#1- Dubai has approved a new quality of life strategy aimed at improving social infrastructure and turning the emirate into the \u201cbest city to live in,\u201d <\/strong>Dubai\u2019s Crown Prince Sheikh Hamdan bin Mohammed said in an <a target=\"_blank\" href=\"https:\/\/twitter.com\/HamdanMohammed\/status\/1790400195399737797?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1790400195399737797%7Ctwgr%5E35a3c269e7bffd9ea6ba05f9fac62f03686995e0%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.thenationalnews.com%2Fnews%2Fuae%2F2024%2F05%2F14%2Fsheikh-hamdan-announces-new-dubai-quality-of-life-strategy%2F\" style=\"\" rel=\"noopener\">X post<\/a>. The strategy involves developing over 200 parks, expanding cycling tracks on beaches by 300%, extending the length of night swimming beaches by 60%, designating new beaches for women, and plans to develop Dubai's outskirts. It will also involve expanding greenery and developing marine and natural wildlife reserves.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The private sector will be in on it: <\/strong>100 projects \u2014 out of a total of 200 \u2014 will be up for grabs for the private sector, according to <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b35daab-hamdan-bin-mohammed-approves-dubai-quality-life\" style=\"\" rel=\"noopener\">Wam<\/a>. <\/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- dnata to expand global footprint:<\/strong> Dubai-based air services provider dnata is planning several merger and acquisition transactions globally, the Emirates subsidiary CEO Steve Allen told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/emirates-groups-airport-travel-unit-dnata-looking-ma-deals-2024-05-14\/\" style=\"\" rel=\"noopener\">Reuters<\/a>, revealing that dnata has \u201cplenty [of transactions] at the end of the pipeline\u201d and is currently in talks with \u201c40 different companies.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Next destination, Brazil?<\/strong> Allen mentioned that dnata sees South America as a \u201chuge growth market opportunity\u201d for its growth, naming Brazil as one of those high-growth markets. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>UAE business giants are ramping up their presence in Brazil. Sovereign wealth fund Mubadala\u2019s investment arm Mubadala Capital earmarked <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/a7a9f8fa-4dab-4e70-b0e7-40ee8ce0f191\/mubadala-capital-plans-more-than-usd-13.5-bn-in-investments-in%253cmark%253e-brazil%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">USD 13.5 bn<\/a> investments in biofuels in Brazil, while technology and defense group Edge recently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/4538224b-4d74-4319-9425-ce18b2d0969a\/edge-acquires-51%2525-stake-in-condor,-strengthening-position-in-non-lethal-technologies-market\" style=\"\" rel=\"noopener\">acquired a 51% stake<\/a> in Brazil-based Condor.<\/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>#3- Goldman Sachs plans to lure more international clients to invest in the Gulf,<\/strong> by launching investment strategies allowing the bank and its clients to deploy capital in the regions\u2019 stock markets, Goldman\u2019s global head of asset and wealth management Marc Nachmann told Bloomberg <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-14\/goldman-looks-to-entice-wealthy-clients-to-plow-cash-across-gulf\" style=\"\" rel=\"noopener\">(watch, runtime, 1:12)<\/a> in an interview during the Qatar Economic Forum. This move comes as Mena-based companies listed on the MSCI Emerging Markets Index are anticipated to grow from 7% to 10%, which should convince more international investors to \u201cpay more attention to the region,\u201d Nachmann said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4-<\/strong><strong>Trouble between Mubadala and Turkish startup Getir?<\/strong> Tensions between Turkish last-mile delivery startup <a target=\"_blank\" href=\"https:\/\/getir.com\/us\/\" style=\"\" rel=\"noopener\">Getir<\/a> \u2019s founders and Mubadala \u2014 its largest investor \u2014 are rising after a member of its top management, Chief Strategy Officer Derya Erdemli, was dismissed by the startup\u2019s management, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-13\/management-feud-at-delivery-app-getir-turns-bitter-after-exits\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing unnamed insider sources. Erdemli had been advising the startup to downsize operations, in line with its investors\u2019 advice to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/0578a16a-d7cd-43ef-b837-ae47c32564da\/dubai-mangroves-100-mn-trees-initiative-plans-revealed\" style=\"\" rel=\"noopener\">shut down foreign operations<\/a> and focus on Turkey. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>Getir\u2019s valuation crashed to USD 2.5 bn in September, falling steeply from USD 11.8 bn in 2022, the outlet said. This was due to the combination of easing of pandemic regulations and lockdown, as well as spiraling costs associated with acquisitions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Mubadala, along with other investors, provided Getir with additional funding \u2014 which Bloomberg says came in at about USD 200 mn \u2014 to Getir in late April. The investment was split into tranches, with USD 90 mn of the total already paid out, and full delivery contingent upon Getir meeting set targets, including changes to the board and a reshuffle of senior management, sources told Bloomberg last month.<\/p>\n<p class=\"tag-border-left\"> HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The Abu Dhabi Global Healthcare Week is on its final day <\/strong>at the Abu Dhabi National Exhibition Centre. Hosted by Abu Dhabi\u2019s Department of Health, the event will bring together around 5k attendees, 100 exhibitors, and 1k delegates specialized in healthcare. Featured topics include AI, biotech, and genomics. You can find the event brochure <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/289.pdf\" style=\"\" rel=\"noopener\">here (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#2- US Energy Secretary Jennifer Granholm <\/strong><strong>is in our corner of the world for climate talks, as well as to participate <\/strong>in a meeting of the Net-Zero Producers Forum, which aims to reduce emissions and advance clean energy initiatives. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Industry and Advanced Technology minister Sultan Al Jaber met with Granholm <\/strong><strong>yesterday <\/strong>to discuss boosting bilateral relations through the <a target=\"_blank\" href=\"https:\/\/www.iea.org\/policies\/17310-pace-uae-us-clean-energy-strategic-partnership\" style=\"\" rel=\"noopener\">US-UAE Partnership for Accelerating Clean Energy (PACE)<\/a>, which aims to deploy USD 100 bn and 100 GW of clean energy by 2036, state news agency <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b35da4h-sultan-jaber-receives-energy-secretary-abu-dhabi\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The two officials also discussed the importance of achieving energy security and advancing AI technology in the sector. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s the Net-Zero Producers Forum?<\/strong> Launched in 2021, it\u2019s part of a bid to <a target=\"_blank\" href=\"https:\/\/www.saudigazette.com.sa\/article\/605928\" style=\"\" rel=\"noopener\">boost cooperation<\/a> between some of the biggest global oil producers on methane abatement, carbon capture, and use and storage technologies. Founding members include Saudi Arabia, the US, Canada, Norway, and Qatar. The UAE joined the group in 2022. NPF members account for 45% of global oil production and 40% of natural gas production, according to the <a target=\"_blank\" href=\"https:\/\/www.energy.gov\/articles\/united-arab-emirates-joins-sixth-member-net-zero-producers-forum\" style=\"\" rel=\"noopener\">US Energy Department website<\/a>.<\/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>#3- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.theairportshow.com\/\" style=\"\" rel=\"noopener\">The Airport Show<\/a><\/strong><strong> is on its second day today<\/strong>, and will wrap tomorrow at the Dubai World Trade Center. The event brings together airport suppliers, airport service providers, aviation executives, and regional decision makers to explore current innovations and new technologies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4-<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.terrapinn.com\/exhibition\/seamless-middle-east\/index.stm\" style=\"\" rel=\"noopener\">Seamless Middle East<\/a><\/strong><strong> is also on its second day at the&nbsp;<\/strong><strong>Dubai World Trade <\/strong><strong>Center<\/strong>, and runs until tomorrow. The three-day event includes a conference welcoming over 500 speakers to cover the latest trends, market disruptors, and technologies in digital commerce, and a multi-brand exhibition hosting over 700 exhibitors in the digital commerce industry. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/gpca.org.ae\/conferences\/scc\/\" style=\"\" rel=\"noopener\">The Gulf Petrochemicals and Chemicals Association Supply Chain<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/gpca.org.ae\/conferences\/scc\/\" style=\"\" rel=\"noopener\">Conference<\/a><\/strong><strong> kicks off today and will wrap on Thursday, 16 May,<\/strong> at the Address Sky View Hotel in Dubai. The conference will bring together industry players under the theme Harnessing Connectivity for a Sustainable Tomorrow, discussing supply chain connectivity and AI integration in the industry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#6- The Food Innovation Conference 2024 wraps up today at Jumeirah Emirates <\/strong><strong>Tower<\/strong>, Dubai. Organized by Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI) alongside the World Economic Forum, the conference brought together around 150 global food experts to discuss sustainable food solutions, state news agency <a target=\"_blank\" href=\"https:\/\/wam.ae\/ml\/article\/b34rur0-food-innovation-conference-2024-kicks-off-dubai\" style=\"\" rel=\"noopener\">Wam<\/a> reports. <\/p>\n<p class=\"tag-border-left\"> HAPPENING THIS WEEK-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.dwtc.com\/en\/events\/acres-real-estate-exhibition-2024\/\" style=\"\" rel=\"noopener\">Acres Real Estate Exhibition<\/a><\/strong><strong> is set to kick off tomorrow, and will run until Sunday, 19 May, at the<\/strong><strong> Dubai World Trade Center<\/strong>. The event will gather leading property developers, investors, brokers, and experts, to showcase the latest projects and technologies in the real estate industry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<br \/><\/strong><strong>DID YOU KNOW that we also cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Egypt<\/a><\/strong><strong> and <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong>?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to subscribe? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of EnterpriseAM UAE delivered every weekday before 7am UAE time \u2014 without charge, thanks to our friends at Mashreq.<br \/><strong>***<\/strong><\/p>\n<p class=\"tag-border-left\">JOIN US IN CAIRO? <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s top executives and business owners will gather in Cairo on Wednesday, 5 June <\/strong>for the Enterprise Optimism Forum.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the menu: <\/strong>Blunt talk about a future that sees Saudi Arabia, Egypt, and the UAE at the heart of a more vital Middle East economy. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The goal: <\/strong>To provide an early, actionable roadmap for those who are \u201clong Egypt.\u201d<\/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:\/\/forum.enterprise.news\/\" style=\"\" rel=\"noopener\">** Interested in attending? Tap or click here to let us know. **<\/a><\/strong> Seating is limited and available on an invitation-only basis. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/forum.enterprise.news\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/227.jpg?ssl=1\"><\/a> <\/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>It\u2019s a mixed bag on global front pages this morning <\/strong>as a number of stories captivate the attention of the business pages. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The US has imposed a series of new tariffs on Chinese imports<\/strong>, including a 100% tariff on Chinese EVs as part of \u201c <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/business\/article\/2024\/may\/14\/joe-biden-tariff-chinese-made-electric-vehicles\" style=\"\" rel=\"noopener\">a package of measures designed to protect US manufacturers from cheap imports<\/a>.\u201d Also on the list: semiconductors. We have the details in this morning\u2019s Planet Finance, below. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>YOUR DAILY DOSE OF AI NEWS- Google introduced its AI assistant <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/fc2f9c44-76ad-4f00-8f1a-e15d268660f2\" style=\"\" rel=\"noopener\">Project Astra<\/a><\/strong><strong>. <\/strong>Think of Project Astra as your personal assistant who can help you find the keys you misplaced or explain a complicated piece of code. It will be powered by an upgraded version of Google\u2019s Gemini and eventually be available across all of Google\u2019s software. Like OpenAI\u2019s Scarlett Johansson-sounding model yesterday, <strong>Project Astra can interact with users through text, audio, and video.<\/strong> The Verge\u2019s David Pierce has a solid rundown <a target=\"_blank\" href=\"https:\/\/www.theverge.com\/2024\/5\/14\/24156296\/google-ai-gemini-astra-assistant-live-io\" style=\"\" rel=\"noopener\">here<\/a> if you want more. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Google is also going to start to roll out AI search summaries <\/strong>to its users, starting in the US.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- OpenAI cofounder\u2019s and chief scientist is <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/05\/14\/openai-co-founder-ilya-sutskever-says-he-will-leave-the-startup.html\" style=\"\" rel=\"noopener\">out<\/a><\/strong><strong>. <\/strong>Ilya Sutskever leaves six months after he participated in a palace coup that saw CEO Sam Altman briefly kicked out of the hot AI startup.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- THE MEME STOCK FRENZY CONTINUES <\/strong>as Roaring Kitty and his army of winged monkeys pushed Reddit shares up 7% to USD 62.34 during trading yesterday. It\u2019s reddit\u2019s second-highest close since it made its market debut. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want the backstory? <\/strong>Check out <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eba1a3ca-e0f0-4b43-8658-89d86cb25f25\/roaring-kitty-is-back%25e2%2580%25a6\" style=\"\" rel=\"noopener\">yesterday\u2019s Planet Finance<\/a>, where we dove into the return of Roaring Kitty and its impact on meme stocks. The Wall Street Journal is not along in wondering whether <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/finance\/stocks\/meme-stocks-jump-gamestop-amc-keith-gill-returns-c46f76c8?mod=hp_lead_pos7\" style=\"\" rel=\"noopener\">Kitty coming \u201cout of hibernation\u201d<\/a> means meme stocks are a thing again \u2014 or if this is just a blip.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Mining group Anglo American is planning to <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/why-the-world-has-gone-cuckoo-for-copper-ef8c385a\" style=\"\" rel=\"noopener\">break up<\/a><\/strong><strong> after rejecting second BHP <\/strong><strong>offer<\/strong> in a bid to retain control of its most profitable companies, including its copper mining outfit \u2014 a smart move given the current <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/f7487018-726e-4854-8165-dda1612e893f\" style=\"\" rel=\"noopener\">copper boom<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FROM THE REGION- Saudi officials are worried about their economy overheating. <\/strong>Saudi Finance Minister Mohamed Al Jadaan <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-14\/saudi-economic-overheating-fears-emerge-as-constraint-on-plans?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">thinks<\/a> the country needs to pace itself when it comes to all these massive investments. The Saudi economy needs to \u201ccatch up\u201d with the projects being implemented or else it risks \u201coverheating\u201d and \u201cleakages.\u201d<\/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 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<\/strong><strong><a target=\"_blank\" href=\"https:\/\/commodityinsights.spglobal.com\/mpgc.html?utm_source=google&amp;utm_medium=cpc&amp;utm_campaign=q2_2024_emea_events_mpgc&amp;utm_content=advert2&amp;utm_term=conferences&amp;gclid=Cj0KCQjw_qexBhCoARIsAFgBlesc2VesT9r8VORd_K-RgkzohOU9Of4VXtk10bx42ptVJMeOi2x_gdgaAjX3EALw_wcB\" style=\"\" rel=\"noopener\"><\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/commodityinsights.spglobal.com\/mpgc.html?utm_source=google&amp;utm_medium=cpc&amp;utm_campaign=q2_2024_emea_events_mpgc&amp;utm_content=advert2&amp;utm_term=conferences&amp;gclid=Cj0KCQjw_qexBhCoARIsAFgBlesc2VesT9r8VORd_K-RgkzohOU9Of4VXtk10bx42ptVJMeOi2x_gdgaAjX3EALw_wcB\" style=\"\" rel=\"noopener\">Middle East Petroleum and Gas Conference<\/a><\/strong><strong> is set to take place from 20-22<\/strong><strong> May in Dubai<\/strong>, hosted by the Emirates National Oil Company and under the organization of S&amp;P Global Commodity Insights. The theme of the conference is \u201cEvolving Core Energy Markets within a Sustainable Landscape.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The International Exhibition of National Security and Resilience<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.isnrabudhabi.com\/\" style=\"\" rel=\"noopener\">2024 Conference<\/a><\/strong><strong> is <\/strong><strong>happening on 21-22 May 2024 at Adnec Abu Dhabi<\/strong>, coinciding with the International Exhibition of National Security and Resilience, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/de\/article\/b30lt9y-isnr-2024-conference-begin-21st-may-abu-dhabi\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/www.wam.ae\/de\/article\/b30lt9y-isnr-2024-conference-begin-21st-may-abu-dhabi\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The conference is set to gather top CEOs, leaders, and experts from different fields to discuss security challenges and promote strategic partnerships.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Dubai Business Forum in Beijing, China is set to take place between 21-22 <\/strong><strong>August<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b30lsve-dubai-chambers-organise-dubai-business-forum-china\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b30lsve-dubai-chambers-organise-dubai-business-forum-china\" style=\"\" rel=\"noopener\">Wam<\/a> reports. Hosted by Dubai Chambers, the event aims to attract foreign direct investments by presenting investment prospects. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Mohammed Bin Rashid Space Center is set to host Geo-Spatial Week from <\/strong><strong>6-11 April 2025 in Dubai<\/strong> with the International Society for Photogrammetry and Remote Sensing, according to a <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2024\/may\/09-05\/mbrsc-set-to-host-geo-spatial\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2024\/may\/09-05\/mbrsc-set-to-host-geo-spatial\" style=\"\" rel=\"noopener\">Dubai Media Office statement<\/a>. The week-long event will welcome experts in photogrammetry, remote sensing, and spatial sciences.<\/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: dnata plans global expansion<\/p>\n","protected":false},"author":1,"featured_media":92009,"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":[1227,87,19,7,315,98,6],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-92008","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-dnata","tag-dubai","tag-economy","tag-enterpriseam-uae","tag-goldman-sachs","tag-real-estate","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"f84e7b74-634c-4bf3-a384-6cbb7763ee80","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/5\/1129.jpeg","photo_position":"above","homepage_title":"","full_issue_title":"THIS MORNING: Dubai ranks first in the world for number of FDI projects in 2023 + new quality of life strategy approved","related_issue":[92006],"teaser":"Plus: dnata plans global expansion","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.982b6524-06de-4757-a081-f1603cf6ab3f.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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