M2S News Radar
MacroScope Strategies (M2S)
Navigating the New World of Government Affairs
Trade & Investment
CEPA Mauritius: The UAE and Mauritius signed a Comprehensive Economic Partnership Agreement (CEPA). The agreement aims to boost non-oil, bilateral trade between the two countries to $500 million in five years from $170 million in 2023.
Aldar-Dubai: Abu Dhabi’s property developer, Aldar, plans to invest $490 million in Dubai, building a skyscraper that will include offices, a luxury hotel and branded residences. Aldar has also agreed to buy the new built ‘6 Falak’ tower in Dubai Internet City.
Dalio Delay: An investment partnership between Ray Dalio’s family office and Abu Dhabi Sheikh Tahnoon bin Zayed Al Nahyan has been delayed as Bridgewater Associates grapples with the legal terms of its billionaire founder’s exit from the firm.
FlyDubai Planes: FlyDubai said it won’t receive any new Boeing aircraft this year and is altering its expansion plans. The airline said it is now evaluating its route development and a potential frequency revision because it won’t get any new planes in the next few months.
Bullion Trade: India's silver and platinum imports from the UAE have ceased as New Delhi's move to reduce import taxes eliminated the duty arbitrage that bullion dealers were exploiting, trade and government officials told Reuters.
EU-UAE Trade: The UAE hopes to reactivate trade talks with the EU by the end of the year, the UAE trade minister said. He is optimistic the talks would be bilateral. Negotiations between the EU and the GCC as a bloc remain stalled.
Bugaboo-Mubadala: Mubadala Capital has announced an agreement with Bain Capital to acquire a majority stake in Bugaboo Group, a global market-leader in strollers and premium children’s consumer products, originating from the Netherlands.
Environment & Energy
Masdar-Endesa: Masdar announced an agreement with Endesa to become a partner for 2.5 GW of existing renewable energy assets in Spain, subject to regulatory approvals and other conditions. The transaction would see Masdar invest €817 million.
Tech, Cyber & Space
Starlink Gaza: SpaceX has begun offering Starlink internet in a field hospital in the Gaza Strip run by the UAE, while preventing Hamas to be able to use it. The initiation of the internet service comes with the support of both the UAE and Israel.
Fintech Funding: UAE-based fintech Mamo has raised $3.4 million in a funding round, provided by existing investor 4DX Ventures and the Dubai Future District Fund, along with Cyfr Capital. Mamo simplifies SME’s financial operations and enhances cost-efficacy.
Foreign Policy & Diplomacy
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ICJ Advisory Opinion: The UAE welcomed the advisory opinion issued by the International Court of Justice (ICJ), which considers the Israeli settlement policy in the West Bank and East Jerusalem a violation of international law.
Sudan Meeting: Sheikh Shakhboot bin Nahyan, Minister of State, participated in the Mediators Planning Retreat on Sudan, held in Djibouti, with the participation of 32 countries as well as international organizations to discuss a collective peace vision.
Tanker Interception: Iran's Islamic Revolutionary Guard Corps has intercepted a Togo-flagged, UAE-managed products tanker carrying 1,500 tons of marine gas oil from Iraq to Sharjah, the IRGC and British security firm Ambrey said.
Cross-border Transactions: The Governors of the Central Bank of the UAE and of the Seychelles signed MoUs regarding enhancing the use of local currencies in cross-border financial and commercial transactions and interlinking payment and messaging systems.
Air Connectivity: The UAE, represented by the General Civil Aviation Authority met with the Civil Aviation Authority of the People's Republic of China in Beijing. The parties signed an MoU to increase air connectivity between UAE and Chinese airports.
UAE-Brazil: Reem Al Hashimy, UAE Minister of State for International Cooperation, led a UAE delegation to Brazil and Uruguay. In Brazil, she participated among other things in the G20 Development Ministerial Meeting.
Defense & Security
Sudan Meeting: Sheikh Shakhboot bin Nahyan, Minister of State, participated in the Mediators Planning Retreat on Sudan, held in Djibouti, with the participation of 32 countries as well as international organizations to discuss a collective peace vision.
Miscellaneous
Bangladesh Protests: A court in the UAE convicted 57 Bangladeshis for protests against their own country’s government, sentencing three of them to life in prison. The UAE said the protests disrupted public life and security.
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M2S News Radar – UAE edition - is a curated weekly newsletter that provides a high-level overview of trade, investment, defense, environmental, and foreign policy developments in the UAE, as well as a weekly agenda of upcoming relevant events. All news items are carefully selected by our team of local experts from relevant and reputable original news sources to provide a concise summary of major news items for senior executives interested in the UAE. While we pay utmost attention to fact check all news items, M2S cannot be held liable for the accuracy of third-party reporting.