Good morning, ladies and gentlemen. It’s not a particularly busy morning as we approach the end of the last workweek of the month, although the news cycle is giving us quite the range of stories to get the day started.

PUBLIC SERVICE ANNOUNCEMENT-

Customers can now use video calls to inquire about or receive support from the Human Resources and Emiratisation Ministry, after the authority launched the service through its official smart application, Wam reports. The move comes as the ministry looks to expand the availability of digital services as part of the government’s digital transformation goals. The video call service will run during the ministry’s official working hours, and can also be accessed on WhatsApp using the number 600590000.

WATCH THIS SPACE-

#1- Expanding trade ties with the US on the horizon: Trade Minister Thani Ahmed Al Zeyoudi is looking to strengthen UAE-US ties by increasing the 1.5k US companies operating in the Emirates, he said during an official visit to Washington this week for the SelectUSA Investment conference, Al Monitor writes.

It’s not just oil: Non-oil trade between the two countries is approaching the USD 40 bn per year mark, with a steady annual growth rate, while the UAE’s total investment in the US currently stands at USD 38 bn, spanning sectors from technology to energy.

The UAE is encouraging US manufacturers to bring in their technology and improve operational efficiency by leveraging complementary services offered in the UAE, Al Zeyoudi said. “In the last three years, through the CEPA program, we’re talking about [providing access to a market of] more than 2.2 billion, through the UAE for US manufacturing.”

#2- Masdar sets sights on US growth: Masdar is also looking to grow “beyond tenfold” in the US over the next three to seven years, President and Chief Executive of Masdar Americas Philip Haddad said during the 2024 SelectUSA Investor Summit, according to the National. Masdar aims to achieve this through investment in development and operating platforms, and already signed an agreement to acquire a 50% stake in US renewables firm Terra-Gen Power Holdings in March.

REMEMBER- Masdar has plans to expand globally and already has a foothold in the US: Masdar has set a goal to achieve 100 GW of global energy capacity by 2030. In the US, Masdar finalized its acquisition of a 50% share in EDF Renewables North America’s 128 MW Big Beau solar plant in California last year. In 2020, Masdar and EDF inked an agreement to jointly co-develop eight US-based renewables plants that would yield a total of 1.6 GW. The company’s portfolio in the US currently consists of four wind projects in Texas and New Mexico and five solar projects in California.

#3- Masdar is eying a 49% stake in Indian green hydrogen and ammonia producer Hygenco in what would be a USD 400 mn transaction, Indian news outlet Mint reports. Other bidders for Hygenco include China’s AIIB and Australia’s Macquarie Group. All bidders are expected to present non-binding offers next, followed by binding offers, according to Zawya. The funds will help Hygenco develop 10 GW of production and distribution assets by 2030.

#4- Dubai Investments starts work on economic zone in Angola: Dubai Investments has begun the development of a mixed-use economic zone covering 2k hectares in Angola’s Dande province, located 50 km from the capital city of Luanda, Trade Arabia reported. The project — called Dubai Investments Park Angola (DIP Angola) — will include industrial, commercial, residential, and recreational spaces, in efforts to become a strategic hub for various sectors such as manufacturing, logistics, technology, retail, and tourism. The economic park is set to become Angola’s first fully integrated economic zone.

DATA POINT-

Nafis registered companies grow 28% in 1H: The number of private companies registered in the Nafis Emiratisation program year-to-date has grown 28% y-o-y, Al Khaleej reports. Since the beginning of 2024, 3.7k new companies have registered, bringing the total number of firms to over 17k, all operating across various sectors.

About the program: The Nafis program, launched in 2021, has a target of integrating 36k Emirati citizens into the private workforce by 2024 as part of the Emiratisation goals for the private sector. The initiative seeks to enhance the competitiveness of Emiratis to fill positions in private sector companies over the next five years.

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THE BIG STORY ABROAD-

What everyone in the global press is talking about now: Troops in Bolivia have pulled back from the presidential palace and nearby areas after trying to occupy the compound.

What they’ll be talking about when the business day begins: The 31 largest US banks have passed their annual “stress tests,” with this year’s scenario testing who could be wiped out by a hypothetical scenario that included 10% unemployment in the midst of a deep recession that also saw real estate prices drop 36-40%. The impact on the sector would be nasty, but banks including Goldman Sachs and JPMorgan Chase would all meet minimum regulatory standards.

What they’ll be talking about tonight and into the weekend: Donald Trump and Joe Biden face off tonight in the first of two presidential election debates. The fireworks start at 9pm Eastern (that’s 4am in Cairo and Riyadh, 5am in Abu Dhabi and Dubai). You’ll need to tune in to CNN to catch it, though it looks like they also plan to stream it on Youtube.

CIRCLE YOUR CALENDAR-

Expo City Dubai is set to host the Asia Pacific Cities Summit from 27-29 October 2025, it said in a statement. The event, which will be held at the Dubai Exhibition Centre, will bring together business leaders and professionals from the Middle East, Africa, South Asia, and the Asia Pacific region. Held biennially, the summit will focus on creating business opportunities and investing in sustainable growth and urban development plans.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.

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