{"id":99381,"date":"2025-01-07T00:00:00","date_gmt":"2025-01-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/this-morning-deadline-for-acceptance-of-adia-consortiums-bid-for-malaysia-airports-extended-patent-registration-to-get-easier\/"},"modified":"2025-01-07T00:00:00","modified_gmt":"2025-01-07T00:00:00","slug":"this-morning-deadline-for-acceptance-of-adia-consortiums-bid-for-malaysia-airports-extended-patent-registration-to-get-easier","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/01\/07\/this-morning-deadline-for-acceptance-of-adia-consortiums-bid-for-malaysia-airports-extended-patent-registration-to-get-easier\/","title":{"rendered":"THIS MORNING: Deadline for acceptance of Adia consortium\u2019s bid for Malaysia airports extended + Patent registration to get easier?"},"content":{"rendered":"

Good morning, lovely people. <\/strong>Things are slowly kicking back into gear as people return to their offices and attempt to get out of the end-of-year funk. <\/p>\n

We have several big stories for you this morning<\/strong>, including the latest PMI data<\/strong> from December, indicating strong growth and a positive forecast for the year ahead, as well as Aldar\u2019s plans to issue hybrid notes<\/strong>, Mashreq\u2019s closing of its sale of a stake in Neopay<\/strong>, and Amea Power securing two battery energy storage system projects<\/strong> in South Africa. <\/p>\n

\u26c5WEATHER- A mix of sun and clouds:<\/strong> Expect mostly sunny conditions today, with some blowing winds and partly cloudy skies in some areas, according to the National Center of Meteorology (pdf)<\/a>. Temperatures will hit 26\u00b0C in Dubai, before cooling to an overnight low of 17\u00b0C. Over in Abu Dhabi, the mercury will peak at a cool 22\u00b0C, with an overnight low of 19\u00b0C. <\/p>\n

WATCH THIS SPACE- <\/p>\n

<\/a> #1- Deadline for acceptance of A<\/strong>dia consortium\u2019s bid for Malaysia Airports extended:<\/strong> The deadline for acceptance of the USD 4.1 bn takeover bid for Malaysia Airports, led by a consortium that includes Abu Dhabi Investment Authority (Adia), Global Infrastructure Partners (GIP), and Malaysian state players Khazanah Nasional Berhad and Employees Provident Fund, has been extended to 17 January from the original deadline of 8 January, according to a disclosure (pdf)<\/a> to the Malaysian bourse. The group now holds a 70.08% stake in Malaysia Airports, up from 40.85% last month, with an additional 5.65% stake still awaiting transfer.<\/p>\n

Background: <\/strong>In November, the consortium submitted a formal conditional offer<\/a> in which Adia and GIP would acquire a 30% stake in Malaysia Airports, while the two Malaysian investors would collectively hold 70%. The consortium aims to upgrade infrastructure, enhance connectivity, and improve services, stating that privatization would better support these objectives.<\/p>\n

What\u2019s next? <\/strong>The consortium will reveal the level of acceptance of the offer as of 8 January \u201cin due course,\u201d the statement reads. Financial advisors of the transaction previously described<\/a> the acquisition offer as \u201cnot fair,\u201d but \u201creasonable,\u201d while some directors of Malaysia Airports recommended rejecting the bid due to valuation concerns.<\/p>\n

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<\/a> #2- Abu Dhabi proceeds with plans to streamline business registration:<\/strong> The Abu Dhabi Department of Economic Development launched the Abu Dhabi Registration and Licensing Authority (Adra) to oversee business registration across Abu Dhabi\u2019s mainland and non-financial economic freezones, according to the Abu Dhabi Media Office<\/a>. The new authority aims to streamline business set-up and operations and ensure compliance with laws and regulations, including anti-money laundering and measures to combat suspicious activities.<\/p>\n

How Adra will work: <\/strong>Adra will create a unified database for economic establishments that consolidates data from the mainland and freezones in a bid to streamline regulatory management and licensing. Adra will also introduce new license types to attract investors to Abu Dhabi.<\/p>\n

IN CONTEXT- <\/strong>Last month<\/a> during Abu Dhabi Business Week, the emirate introduced the Abu Dhabi Registration Authority as a centralized entity for simplifying business registration and compliance for businesses across the mainland and freezones. The initiative is part of Abu Dhabi\u2019s broader strategy to drive economic diversification and attract foreign investment.<\/p>\n

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<\/a> #3- The UAE is expected to become an even more popular destination for crypto and<\/strong> stablecoin ventures <\/strong>in the wake of the EU\u2019s new strict Markets in Crypto-Assets (MiCA) regulation, which took full effect last week, experts tell Arabian Business<\/a>. The new MiCA act introduces a pan-European licensing and supervisory framework for crypto issuers, requiring them to possess sizable financial reserves. Smaller stablecoin issuers must hold 30% of their reserves in EU-based low-risk banks, while larger players must maintain 60% or more.<\/p>\n

The rationale:<\/strong> Sector experts predict that the more stringent \u2014 and costly \u2014 requirements will drive many firms to seek jurisdictions with friendlier regulatory environments, stable policies, and banking access, such as the UAE, Uldis Teraudkalns, chief revenue officer at crypto exchange platform Paybis, told the news outlet. <\/p>\n

Foreign crypto firms are already flocking to the country: <\/strong>The UAE has been a haven for crypto firms over the past couple of years, with stable and comprehensive regulatory frameworks for stablecoins and for the sector helping lure plenty of firms. Hedge fund management Brevan Howard has ramped up its crypto trading operations in the UAE, while players like Austrian digital assets trader Bitpanda<\/a>, all-digital bank Zand<\/a>, and London-based crypto assets trader Copper Securities<\/a> all getting the greenlight to set up shop in the country. <\/p>\n

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<\/a> #4- It\u2019s going to get easier \u2014 and faster \u2014 to register patents<\/strong>, under a new project launched by the Economy Ministry that aims to cut processing time for patent registrations to six months, down from 42 currently, state news agency Wam<\/a> reports. It also includes perks like reduced fees for students, registration without charge for youth under 21, and training in partnership with the World Intellectual Property Organization. The goal: to meet the previously announced target of increasing registered patents<\/a> from 4.5k to 6k by 2026.<\/p>\n

PSAs- <\/p>\n

#1- Phase Two of Al Nalia app is up and running:<\/strong> The Integrated Transport Center (Abu Dhabi Mobility) has launched the second phase of its maritime services and safety app Al Nalia, it said in a statement<\/a>. The new features added in this phase include integrated marina berth booking, waterway hazard reporting, weather notices notifications, public water transport services booking, and links to local maritime regulations.<\/p>\n

#2- Snowfall <\/strong>in the UK disrupt<\/strong>ed flight routes to Dubai and Abu Dhabi<\/strong>, with Emirates and Etihad flights among those experiencing delays as airports in the UK were forced to close runways due to heavy snow, the National reports<\/a>. Manchester Airport advised<\/a> passengers to check with airlines for updates.<\/p>\n

DATA POINTS- <\/p>\n

#1- UAE sees record air traffic in 2024: <\/strong>The Sheikh Zayed Air Navigation Center recorded over 1 mn air traffic movements in 2024, an all-time high for the UAE, the General Civil Aviation Authority said in a statement<\/a>. The 1 mnth air traffic movement took place on 22 December with the arrival of Emirates\u2019 Flight305 from Shanghai.<\/p>\n

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#2- Burj Khalifa\u2019s residential sales in 2024 alone amounted to AED 467.1 mn<\/strong>, down only 5.7% y-o-y despite a 27% y-o-y drop in the number of available homes for sale, as the Dubai landmark continues to be one of the major attractions in the emirate, according to Knight Frank\u2019s estimates<\/a>. <\/p>\n

Residential prices in the Burj Khalifa grew 12.9% y-o-y in 2024<\/strong> \u2014 compared to 19.1% city-wide growth \u2014 with the average price per square foot standing at AED 3k, 78.5% above the city-wide average, according to a Knight Frank press release<\/a>. Some 76% of units in the Burj Khalifa are currently valued at over USD 1 mn, Knight Frank said.<\/p>\n

The Burj has reeled in AED 8.8 bn in residential sales across nearly 1.9k <\/strong>units since launching in 2010<\/strong>, accounting for 6.2% of the total residential sales value in Downtown Dubai and making it Dubai\u2019s most valuable building. <\/p>\n

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#3- Dubai motorists spent 35 hours in traffic jams last year<\/strong>, according to the Inrix 2024 Traffic Scorecard Report<\/a>, making it the Emirates\u2019 most congested city and ranking it the 154th most congested city in the world. The figure marks a 6% jump from 2023 and a 45% rise compared to 2022, with the city\u2019s population and the number of registered vehicles continuing to grow.<\/p>\n

HAPPENING TODAY- <\/p>\n

#1- The <\/strong>Arab Plast International Trade Fair for Plastics, Recycling, Petrochemicals,<\/a><\/strong>Packaging and Rubber Industry<\/a><\/strong> kicks off today and runs through Thursday <\/strong> at the Dubai International Convention and Exhibition Center. The event will showcase advancements in the plastics and recycling sectors, with a focus on sustainable practices, circular economy, recycling technologies, and sustainable materials. <\/p>\n

#2- <\/strong>Dubai International<\/a><\/strong>Pharma<\/a><\/strong>& Technologies Conference and Exhibition<\/a><\/strong>(DUPHAT) kicks off today<\/strong> at the Dubai World Trade Center. DUPHAT, which wraps up on Thursday, will feature scientific sessions, workshops, and scientific poster presentations from university students. Additionally, it will feature Vita Show Dubai, showcasing innovations in nutritional supplements.<\/p>\n

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

Politics is once again getting top billing in the foreign press this morning<\/strong>, with Canadian Prime Minister Justin Trudeau\u2019s resignation after nine years in office getting plenty of ink. <\/p>\n

Trudeau\u2019s resignation comes following pressure from members of the Liberal party<\/strong>, following an increase in inflation and affordable housing shortages that led to the resignation of Finance Minister Chrystia Freeland, with the rival Conservatives party gaining popularity in recent pre-election polls. Trudeau will remain in charge at least until the end of March while parliament is suspended, with elections set to take place as early as April or, at the latest, in October. The three major opposition parties in parliament have already said they will back a motion of non-confidence in the government. (Reuters<\/a> | Bloomberg<\/a> | Washington Post<\/a> | FT<\/a> | NYT<\/a>)<\/p>\n

Meanwhile, US president-elect Donald Trump is also making headlines <\/strong>after Congress formally certified<\/a> his election victory yesterday, setting him up for his inauguration on 20 January. His hushmoney trial is also getting more ink<\/a> after he lost a bid to delay his sentencing as he looks to appeal his conviction. Trump will likely get a sentence of unconditional discharge, the judge on the case previously said, and is unlikely to serve jailtime. <\/p>\n

IN BUSINESS NEWS- Nippon Steel is moving to sue the Joe Biden administration for <\/strong>blocking its USD 15 bn bid for US Steel<\/a><\/strong>, accusing it of using a \u201csham national review\u201d to block the transaction instead of giving it a fair review. The bid had been a key topic ahead of the US elections in November, with both Biden and Trump promising to kill it in a bid to secure voters in Pennsylvania, where US Steel is headquartered. <\/p>\n

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CIRCLE YOUR CALENDAR- <\/p>\n

The 1 Bn Followers Summit<\/a><\/strong> will take place between 11-13 January<\/strong> at Jumeirah Emirates Towers at the DIFC in Dubai. The event will feature over 250 speakers, including top content creators and industry experts. It includes workshops and discussions on technology, content strategies, and the economic impact of content creation.<\/p>\n

The <\/strong>Abu Dha<\/a><\/strong>bi Sustainability Week (ADSW)<\/a><\/strong> will take place between 12-18 January <\/strong>at the Abu Dhabi National Exhibition Center. The event features 11 events gathering policymakers, industry leaders, and youth to discuss global sustainability solutions and foster collaborations.<\/p>\n

Among the biggest events of the week:<\/strong> The International Renewable Energy Agency (IRENA) Assembly<\/a> will take place between 11-13 January in Abu Dhabi. The event will gather global leaders and decision-makers to discuss the renewable energy transition and address challenges to energy security and financing. Featured in the agenda: An International Renewable Energy Agency Youth Forum<\/a>, which will see interactive sessions, open dialogues, and thematic workshops for youth to contribute to renewable energy deployment and sustainable development.<\/p>\n

Other events include: <\/strong><\/p>\n