{"id":92347,"date":"2024-05-24T00:00:00","date_gmt":"2024-05-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/g42-could-get-crucial-ai-infrastructure-from-microsoft\/"},"modified":"2024-05-24T00:00:00","modified_gmt":"2024-05-24T00:00:00","slug":"g42-could-get-crucial-ai-infrastructure-from-microsoft","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/05\/24\/g42-could-get-crucial-ai-infrastructure-from-microsoft\/","title":{"rendered":"G42 could get crucial AI infrastructure from Microsoft"},"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, lovely people. <\/strong><span style=\"background-color: transparent;\">We\u2019re wrapping up a busy week with a compact issue to send you off into the weekend.<\/span><\/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 of news here at home<\/strong>, with the biggest stories being Adnoc Drilling\u2019s sale of a USD 935 mn stake to investors, and Eagle Hills\u2019 EUR 3 bn investment in Latvia. <strong>Also worth your attention this morning:<\/strong> We have fresh data out on the economy in 2023, indicating continued growth of the non-oil economy. <\/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>WEATHER- It\u2019s more of the same in both Dubai and Abu Dhabi this weekend<\/strong>, with Dubai seeing the mercury hit 39\u00b0C today and 40\u00b0C tomorrow, before rising to a sweltering 42\u00b0C on Sunday. Expect a low of 30\u00b0C tonight. Abu Dhabi will be slightly cooler, with highs of 33\u00b0C on Saturday and 35\u00b0C on Sunday, and a low of 31\u00b0C tonight. <\/p>\n<p class=\"tag-border-left\"> PUBLIC SERVICE ANNOUNCEMENTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Companies with licenses issued in January and February have until next<\/strong><strong> Friday, 31 May to submit their corporate tax registrations<\/strong>, the Federal Tax Authority said in a <a target=\"_blank\" href=\"https:\/\/tax.gov.ae\/en\/media.centre\/news\/federal.tax.authority.urges.resident.juridical.persons.with.licenses.issued.in.january.and.february.to.submit.corporate.tax.registration.applications.by.31.may.2024.aspx\" style=\"\" rel=\"noopener\">statement<\/a>. Companies that fail to submit their registration applications by next week\u2019s deadline will face a fine of <a target=\"_blank\" href=\"https:\/\/mof.gov.ae\/aed10000-penalty-for-late-corporate-tax-registration\/\" style=\"\" rel=\"noopener\">AED 10k<\/a>, the Finance Ministry said previously.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>You can register<\/strong> via the Federal Tax Authority\u2019s <a target=\"_blank\" href=\"https:\/\/eservices.tax.gov.ae\/#\/Logon\" style=\"\" rel=\"noopener\">EmaraTax platform<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Applications to register in the Economy Ministry\u2019s unified registry for family <\/strong><strong>businesses are now open<\/strong>, state news agency <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3aq68l-ministry-economy-opens-registration-unified\" style=\"\" rel=\"noopener\">Wam<\/a> reports. Family companies should submit requests to the licensing authority that issued their economic license, which will forward the applications to the ministry. Decisions will be based on companies\u2019 compliance with the regulations and conditions stipulated in the Family Businesses Law.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>The ministry launched the unified registry in <a target=\"_blank\" href=\"https:\/\/www.moec.gov.ae\/en\/-\/ministry-of-economy-launches-unified-family-businesses-registry-and-reviews-four-new-decisions-to-strengthen-the-sector-s-governance\" style=\"\" rel=\"noopener\">December 2023<\/a> to build a comprehensive and standardized database of family businesses, and improve governance. Registrations are voluntary for family businesses.<\/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>#<\/strong><strong>1- Microsoft to send G42 AI infrastructure? <\/strong>Microsoft\u2019s agreement with International Holding Company-backed tech and AI group G42 could move forward to a \u201csecond phase\u201d that would see the US tech giant exporting \u201ccrucial components of AI technology such as model weights\u201d to G42, Microsoft President Brad Smith told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/microsofts-uae-deal-could-transfer-key-us-chips-ai-technology-abroad-2024-05-23\/\" style=\"\" rel=\"noopener\">Reuters<\/a> last week. Smith did not disclose a timeline for this phase of the project.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI #1- <\/strong>Microsoft invested some <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/ab8a12c3-4caf-4243-940c-f007b4d33c7a\/%253cmark%253emicrosoft%253c%2Fmark%253e-writes-usd-1.5-bn-ticket-for-g42\" style=\"\" rel=\"noopener\">USD 1.5 bn<\/a> in G42 to position the UAE as a \u201cglobal AI hub.\u201d The firms also inked an agreement <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/d624ca56-ec09-48f6-af7f-2966baa906be\/%253cmark%253emicrosoft%253c%2Fmark%253e-and-g42-invest-usd-1-bn-in-kenya-geothermal-data-center\" style=\"\" rel=\"noopener\">earlier this week<\/a> to build a USD 1 bn geothermal data center in Kenya. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Potential hiccup: <\/strong>The transaction requires approval from the US Department of Commerce after the Biden administration made it mandatory in October for large AI systems makers to share details with the government amid growing concerns about regulating AI exports. \u201cCongress still has not received a comprehensive briefing from the executive branch about this agreement,\u201d raising concerns that \u201cthe right guardrails are not in place to protect sensitive US-origin technology from Chinese espionage,\u201d Reuters cites Republican Congressman Michael McCaul as saying.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI #2-<\/strong>G42 had <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/edition\/am\/45bff422-6aef-41f5-bd13-0fce03beb4d9\/Real-estate-market-growth-will-be-driven-by-expats-%2B-HNWI,-Markaz-suggests\" style=\"\" rel=\"noopener\">offloaded all its stakes in Chinese businesses<\/a> in a bid to reportedly appease US partners. Reports out at the time claimed that G42 held private talks with the US Commerce Department\u2019s Bureau Industry and Security for G42 to scale down its investments in Chinese businesses, which ultimately paved the way for Microsoft\u2019s investment. G42 could back away even more from China, including giving up its use of Huawei telecom equipment, which Washington \u201cfears could provide a backdoor for the Chinese intelligence agencies,\u201d according to <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/04\/16\/technology\/microsoft-g42-uae-ai.html\" style=\"\" rel=\"noopener\">the New York Times<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not entirely off the table: <\/strong>Microsoft said its agreement with G42 has safeguards \u201cto protect Microsoft's technology and prevent it from being used by Chinese entities,\u201d including a \u2018know your customer\u2019 rule to determine who is using Microsoft's technology. Microsoft can impose financial penalties on G42 for breach, with the penalties enforceable in arbitration courts in London. The company is also seeking out alternative options to protect its technology, such as physically separating parts of data centers where AI chips and model weights are stored, and restricting physical access. \u201cI suspect by the time we're done, we're going to end up with a regulatory regime or trade export control approach that will be applicable broadly and not just to Microsoft and G42,\u201d Smith said.<\/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- Adia-backed National Grid to raise GBP 7 bn in share sale:<\/strong> LSE-listed British energy distributor National Grid \u2014 in which Abu Dhabi Investment Authority (Adia) holds a <a target=\"_blank\" href=\"https:\/\/www.common-wealth.org\/publications\/national-grid-ownership\" style=\"\" rel=\"noopener\">3% stake<\/a> \u2014 plans to raise GBP 7 bn in fresh capital by offering shareholders new shares via a rights issue, the company said in a <a target=\"_blank\" href=\"https:\/\/www.londonstockexchange.com\/news-article\/NG.\/7-for-24-fully-underwritten-ps7bn-rights-issue\/16483990\" style=\"\" rel=\"noopener\">disclosure<\/a>. National Grid will launch the share sale as part of a five-year GBP 60 bn investment plan. <\/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=\"wwtt3\"><\/a> <strong>#1- Institutional-grade buildings in Abu Dhabi logged a 94% occupancy rate in <\/strong><strong>1Q 2024<\/strong>, up from 92.5% the previous year, according to commercial real estate agency CBRE Middle East\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1916.pdf\" style=\"\" rel=\"noopener\">UAE Office Market Review 1Q 2024 (pdf)<\/a>. Neighboring Dubai saw its occupancy rate increase by a little over one percentage point to 91.3% during the quarter. Occupier demand in Abu Dhabi primarily stemmed from government-linked entities, particularly in on-shore locations, while financial services \u2014 including hedge funds and asset management firms \u2014 drove demand in Dubai.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Dubai saw a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/df6674c9-a027-442c-b05f-b05277ef01f8\/the-dubai-property-boom-continued-in-1q-2024-%25e2%2580%2593%253cmark%253ecbre%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">35.8% y-o-y surge<\/a> in office rental registrations in 1Q 2024, while Abu Dhabi saw a 9.1% y-o-y increase in total office rental contracts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Rental rates surged across both emirates:<\/strong> Abu Dhabi\u2019s Grade B office space registered the highest rental growth rate in the emirate in 1Q at 9.7%, followed by Prime (6.6%) and Grade A (3.4%) developments, the report adds. Dubai witnessed more pronounced rental increases across its Prime (7.6%), Grade A (17.9%), Grade B (21.6%), and Grade C (16.8%) rents. <\/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>#2- The UAE ranked fifth globally in crypto adoption in 2023<\/strong>, with 30.4% of the population holding crypto \u2014 the highest percentage among the top-ranked countries, according to research from <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/research-and-studies\/the-rise-of-crypto-uae-named-fifth-most-crypto-friendly-country-ambo5nui\" style=\"\" rel=\"noopener\">CryptoCasinos<\/a>. The UAE scored 70.76 out of 100 based on metrics including the cost to mine one BTC, net income from mining one BTC, search volume per 100k, and the penetration of crypto among the population. Argentina sits at the top of the ranking with a score of 74.49, followed by the US (73.52), Colombia (72.89), and Ukraine (72.77). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3-<\/strong><strong>The banking sector is poised to grow 7-8% y-o-y in 2024<\/strong>, Director General of the UAE Banks Federation Jamal Saleh told CNBC Arabia <a target=\"_blank\" href=\"https:\/\/www.cnbcarabia.com\/123569\/2024\/5\/22\/%D9%85%D8%AF%D9%8A%D8%B1-%D8%B9%D8%A7%D9%85-%D8%A7%D8%AA%D8%AD%D8%A7%D8%AF-%D9%85%D8%B5%D8%A7%D8%B1%D9%81-%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D9%84%D9%80-CNBC-%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9:-%D9%86%D8%AA%D9%88%D9%82%D8%B9-%D8%AA%D8%AD%D9%82%D9%8A%D9%82-%D8%A7%D9%84%D9%82%D8%B7%D8%A7%D8%B9-%D9%86%D8%B3%D8%A8%D8%A9-%D9%86%D9%85%D9%88-%D8%AA%D8%AA%D8%B1%D8%A7%D9%88%D8%AD-%D8%A8%D9%8A%D9%86-7--%D9%888--%D8%AE%D9%84%D8%A7%D9%84-%D8%A7%D9%84%D8%B9%D8%A7%D9%85-%D8%A7%D9%84%D8%AD%D8%A7%D9%84%D9%8A\" style=\"\" rel=\"noopener\">(watch, runtime, 5:36)<\/a>. Saleh pointed to expectations for the GDP to expand 4% y-o-y, noting that the banking sector typically records growth at least at twice the rate of GDP.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Total bank assets crossed the USD 1 tn mark in 2023<\/strong>, with some UAE banks \u2014 such as <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/7632ce27-08c2-4ba9-9a4e-875e9a94ace1\/fab%25e2%2580%2599s-net-income-jumps-56%2525-in-2023-%2B-adnoc%25e2%2580%2599s-borouge-sees-annual-bottom-line-dip#:~:text=Total%20assets%20hit%20AED%201.2%20bn%3A%20%E2%80%9CWe%20further%20consolidated%20our%20leading%20position%20as%20one%20of%20the%20largest%20global%20banks%2C%20with%20total%20assets%20increasing%20to%20AED%201.2%20tn%2C%E2%80%9D%20FAB%20chairman%20Sheikh%20Tahnoon%20Bin%20Zayed%20Al%20Nahyan%20said%20in%20the%20earnings%20release%20(pdf).\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/7632ce27-08c2-4ba9-9a4e-875e9a94ace1\/fab%25e2%2580%2599s-net-income-jumps-56%2525-in-2023-%2B-adnoc%25e2%2580%2599s-borouge-sees-annual-bottom-line-dip#:~:text=Total%20assets%20hit%20AED%201.2%20bn%3A%20%E2%80%9CWe%20further%20consolidated%20our%20leading%20position%20as%20one%20of%20the%20largest%20global%20banks%2C%20with%20total%20assets%20increasing%20to%20AED%201.2%20tn%2C%E2%80%9D%20FAB%20chairman%20Sheikh%20Tahnoon%20Bin%20Zayed%20Al%20Nahyan%20said%20in%20the%20earnings%20release%20(pdf).\" style=\"\" rel=\"noopener\">First Abu Dhabi<\/a> \u2014 having assets that top AED 1 tn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Consumer confidence in the UAE banking sector has <\/strong><strong>climbed to 90%<\/strong>, some 27 percentage points above the global average, Saleh said. <\/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>#4- The UAE ranked second globally as a commodity trade hub in commodity trade with a <\/strong><strong>50% score<\/strong> on the Commodity Trade Index, maintaining its 2022 rank, according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1814.pdf\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1814.pdf\" style=\"\" rel=\"noopener\">Future of Trade report (pdf)<\/a> by Dubai Multi Commodities Center. The index assesses the trading sectors of 10 countries by analyzing three commodity trade categories across 10 sub-indicators. The UAE placed first in the commodity endowment factors category with a 77% score, driven by its oil output, and ranked fourth in the institutional factors category, scoring 66% on the back of its flexible tax rates and resilient trade logistics infrastructure. <\/p>\n<p class=\"tag-border-left\">HAPPENING NEXT WEEK- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- President Sheikh Mohamed bin Zayed Al Nahyan will head to South Korea on a <\/strong><strong>two-day visit next Tuesday, 28 May,<\/strong> at the invitation of South Korean President Yoon Suk Yeol, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3a4qe7-uae-president-commence-state-visit-republic-korea\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The state leaders will discuss ramping up cooperation in trade, investment, energy, and technology, in addition to regional and international developments. Marking the president\u2019s first visit to Korea, the landmark working visit is expected to see the two countries sign a number of investment agreements and MoUs to bolster bilateral business cooperation, according to Korean news portal <a target=\"_blank\" href=\"https:\/\/www.korea.net\/NewsFocus\/policies\/view?articleId=251879&amp;koreanId=251878\" style=\"\" rel=\"noopener\">Korea.net<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The Central Bank of the UAE (CBUAE) will <\/strong><strong>auction four m-bills worth up to AED 15 bn Monday<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1850.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. Three of the m-bills are tap issuances, with the four having tenors ranging from 28 to 280 days.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Decoding central bank speak:<\/strong> M-bills are short-term securities issued in AED by the CBUAE at no interest. The bonds typically have maturity dates of one to 12 months and are not retrievable through any other listing. A tap issuance allows the CBUAE to more finely control money supply by allowing it the flexibility to continue selling bills past the initial auction date.<\/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- A big week ahead for Arab diplomacy? <\/strong> The foreign ministers of Saudi Arabia, the United Arab Emirates, Egypt, Jordan and Qatar will <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/arab-eu-ministers-discuss-gaza-war-peace-efforts-2024-05-22\/\" style=\"\" rel=\"noopener\">join their 27 European Union counterparts<\/a> in Brussels on Monday for talks. Look for the war in Gaza and the post-war order there to take center stage. Foreign Minister Prince Faisal bin Farhan, meanwhile, was in Tehran yesterday for the funeral of Iranian President Ebrahim Raisi. Bin Farhan was joined by the FMs of the UAE and Kuwait as well as the emir of Qatar.<\/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 quiet day in the foreign press this morning<\/strong>, but <strong>Wall Street\u2019s seesaw<\/strong> yesterday is on everyone\u2019s minds. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Dow Industrial Jones had its worst day yet this year<\/strong>, falling 1.53% despite the post-earnings rally in Nvidia, which had lifted the broader market earlier in the day. The S&amp;P 500 was not far off, with more than 400 stocks in the red at the end of trading, despite notching record highs earlier in the day. Nasdaq was also down 0.39%. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/20697f42-83fa-423e-8678-dc1b4191a2fe\" style=\"\" rel=\"noopener\">FT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/05\/22\/stock-market-today-live-updates.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/stock-market-china-inflation-rates-e13634fc3292c49b2261fd51bb344e14\" style=\"\" rel=\"noopener\">AP<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/nasdaq-sp-500-futures-pop-nvidia-fuels-chip-stocks-rally-2024-05-23\/\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The reasons behind the drop? <\/strong>A mix of strong economic data, high treasury yields, and<font face=\"Arial\"> <\/font>US Federal Reserve\u2019s minutes from its latest monetary policy meeting dampened expectations of a rate cut in September. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Stock markets in the Gulf also had a bad day<\/strong>, with the ADX falling to its lowest level in two years, and the DFM down 0.8%, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/abu-dhabi-index-hits-2-year-low-gulf-bourses-slip-hawkish-fed-minutes-2024-05-23\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. Over in Saudi Arabia, the Tadawul was also down 1.3%, with almost all sectors in the red. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Speaking of the ADX: ADX-listed <\/strong><strong>crypto conglomerate Phoenix Group\u2019s is \u201cmonitoring\u201d its share price after it <\/strong><strong>dipped 7% on Wednesday,<\/strong> closing at AED 1.8, down from AED 1.95, in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1908.pdf\" style=\"\" rel=\"noopener\">ADX filing (pdf)<\/a> yesterday. The company said it does not have any information that could negatively affect the share price or that hasn\u2019t been shared with the market. Its shares fell another 7% yesterday to AED 1.68. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN KEEPING WITH THE CAPITAL MARKETS THEME- Ethereum ETFs on the way? <\/strong>The US Securities and Exchange Commission approved rule changes that pave the way for the introduction of ethereum ETFs.(<a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/05\/23\/sec-approves-rule-change-to-allow-creation-of-ether-etfs.html\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-23\/sec-opens-the-door-for-spot-ether-etfs-in-major-crypto-victory\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/05\/23\/sec-approves-rule-change-to-allow-creation-of-ether-etfs.html\" style=\"\" rel=\"noopener\">CNBC<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO GETTING ATTENTION- Elon Musk\u2019s SpaceX could sell shares valuing the company at USD 200 bn in June<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-23\/spacex-considering-tender-offer-to-boost-value-to-200-billion?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. <\/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","protected":false},"excerpt":{"rendered":"<p>And: Reminder for companies with licenses issued in January and February to submit corporate tax registrations before next Friday<\/p>\n","protected":false},"author":1,"featured_media":92348,"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":[368,29,599,6],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-92347","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-abu-dhabi-investment-authority","tag-capital-markets","tag-g42","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"f9598e97-f1b7-4b58-acf6-7e1d4881c1bb","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/4\/1083.jpg","photo_position":"above","homepage_title":"","full_issue_title":"THIS MORNING: G42 could get crucial AI infrastructure from Microsoft + the UAE was the fifth biggest adopter of crypto in 2023","related_issue":[92345],"teaser":"And: Reminder for companies with licenses issued in January and February to submit corporate tax registrations before next Friday","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.a8224e4b-b67e-4a81-9334-a9c7cef6d9ca.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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