Kuwait ranks 11th globally for air quality: Swiss report

In a recent report released by the Swiss organization “IQ Air,” Kuwait emerged as the 11th country worldwide in terms of air quality, ranking 134 countries and regions based on air pollution levels with fine PM 2.5 particles. Meanwhile, Bangladesh topped the list as the most polluted country according to this indicator.

Within the Arab world, Kuwait secured the fourth spot on the list, following Iraq, the Emirates, and Egypt. Notably, only seven countries out of the 134 included in the report, including Australia, Estonia, Finland, Grenada, Iceland, Mauritius, and New Zealand, met the World Health Organization’s guidelines for small airborne particles emitted by vehicles and industrial facilities.

In the context of global capitals, Kuwait City was ranked 13th among the world’s capitals with air pollution attributed to PM 2.5 particles, trailing behind Baghdad and Cairo in the Arab region.

IQ Air emphasized that the majority of countries fall short of meeting the WHO standard for PM 2.5 particles, which are microscopic soot specks smaller than the width of a human hair.


Kuwait cracks down on cardboard waste exports for environmental revival

Scion Industrial News

Abdullah Al-Joaan, the Minister of Trade and Industry and Chairman of the Board of the Public Authority for Industry, has issued a decree prohibiting the export and re-export of cardboard waste for three months. This directive will take effect upon its publication in the Official Gazette.

The decision aims to foster the adoption and advancement of a national Extended Producer Responsibility system within projects related to cardboard packaging recycling.

Cardboard holds significant importance for numerous Kuwaiti factories engaged in producing consumer goods for the local market at affordable prices. Moreover, local factories have a monthly demand of approximately 30 thousand tons of cardboard, a requirement that cannot be met solely through the local market without the implementation of cardboard recycling.

It is important to highlight the significance of recycling industries in Kuwait, which prioritize environmental preservation, reduction of natural resource consumption, and adoption of cutting-edge technologies observed in developed nations. These efforts contribute to various economic and investment advantages for the commercial and industrial sectors.


Kuwait bank’s financing of the industrial sector declined in 1st 10 months of ’23

In the first ten months of 2023, local banks have experienced a notable decline in the monthly financing they extend to the industrial sector, marking a significant 32.4 percent decrease from the corresponding period in 2022. The total monthly financing dropped from 1.359 billion dinars in 2022 to 918.7 million dinars in 2023. Insights from the Central Bank of Kuwait’s October statistics reveal a monthly upswing of 32.6 percent, with financing reaching 18.5 million dinars. However, this figure depicts a substantial 52.3 percent year-on-year reduction from 157.9 million dinars in October 2022.

Examining the trajectory of financing within the industrial sector, February 2022 saw the pinnacle with financing exceeding 414 million dinars. In contrast, the sector witnessed its lowest point in September 2023, with financing reaching approximately 56.8 million dinars. This decline in financing to the industrial sector coincides with a reduction in new monthly credit facilities, aggregated over ten months, by 1.8 percent.

The total credit facilities dwindled from 19.28 billion dinars in 2022 to 18.921 billion in 2023. However, every month, credit facilities surged by 36.2 percent, totaling 1.875 billion dinars in October, up from 1.376 billion dinars in September. The accumulated balance of industrial financing provided by local banks witnessed a 5.7 percent annual dip, totaling 167.6 million dinars.

This decline is evident when comparing October 2022’s figure of 2.922 billion dinars to October 2023’s reduced balance of 2.754 billion dinars. While this balance decreased by 2.2 percent and approximately 61.9 million dinars compared to December 2022, it increased monthly by 0.4 percent, amounting to 11.6 million dinars. This positive shift came after registering 2.743 billion dinars in September. In contrast, the total cash credit facilities provided by banks across all sectors showcased a growth of 1.3 percent during the initial ten months of 2023, amounting to 677.9 million dinars.

Monthly, this figure increased by 0.5 percent, reaching approximately 296.2 million dinars in October, up from 52.828 billion dinars at the end of September. On an annual basis, the total cash credit facilities increased by about 998.6 million dinars, surpassing 52.126 billion dinars in October 2022. The industrial sector has faced a multitude of challenges over the last three years, emerging as one of the main sectors adversely affected by the COVID-19 pandemic. The imposition of bans and the suspension of corporate activities, coupled with disruptions in the supply and production chain, has led to significant setbacks for the industrial sector. Additionally, the sector has suffered from reduced demand and limited new projects within the country. These multifaceted challenges have had a substantial impact on local industrial projects, clearly reflected in the decline in funding received by the sector during the initial ten months of 2023 compared to the same period last year.


Kuwaiti banks increase industrial sector financing by 123.5% in Jan

The financing provided by local banks to the industrial sector saw a significant increase in January compared to December 2023, rising by 123.5% to 148.9 million dinars from 66.6 million dinars. This surge represents a noteworthy boost in funding for industrial activities within Kuwait. Moreover, on an annual basis, this increase amounted to 38.3% from 107.6 million dinars in January 2023. The rise in financing indicates a positive trend in supporting industrial development and growth in the country. Simultaneously, the accumulated balance of industry financing also witnessed growth, indicating sustained investment in the sector.

The balance increased by 1.5% monthly, reaching 2.686 billion dinars in January 2024 from 2.646 billion dinars in December 2023. Despite this monthly increase, there was a 6.1% decrease in the accumulated balance compared to January 2023, where it stood at 2.861 billion dinars. While there was a slight decline from the previous year, the ongoing investment in industry financing underscores the importance of this sector in Kuwait’s economic landscape.

Monthly statistics from the Central Bank of Kuwait for the year 2023 provide further insights into the dynamics of financing within the industrial sector. Total monthly financing to the industrial sector witnessed a notable decline of 31% during the fiscal year, amounting to 1.033 billion dinars in December 2023 compared to 1.499 billion dinars in December 2022.

This significant reduction reflects various challenges faced by the industry sector, including the impacts of the COVID-19 pandemic and disruptions in global supply chains. Moreover, December 2023 saw a staggering 90.7% decrease in financing compared to the same period in 2022, dropping from 73.8 million dinars to 7.2 million dinars. This drastic decline underscores the volatility and uncertainties that characterized the industrial sector during the past year.

However, despite these challenges, the resilience of the industry sector remains evident, with ongoing efforts to navigate through turbulent times and adapt to changing market conditions. The industry sector has faced numerous challenges over the past three years, exacerbated by the COVID-19 pandemic. Restrictions on corporate activities, disruptions in supply chains, and decreased demand have all contributed to the sector’s struggles.

Additionally, bureaucratic hurdles in completing transactions, reliance on imported goods, and high rental prices for industrial facilities have further compounded the challenges faced by industrial enterprises. Despite these obstacles, the Kuwaiti government continues to prioritize the development of the industrial sector and has implemented various initiatives to support its growth. These efforts include addressing bureaucratic inefficiencies, promoting domestic manufacturing, and enhancing infrastructure to facilitate industrial activities. By addressing these challenges and capitalizing on emerging opportunities, the industrial sector in Kuwait can overcome current obstacles and realize its full potential in driving economic growth and prosperity.


GCC seeks free trade agreement with Türkiye for UAE, Saudi Arabia, Qatar, Kuwait, Bahrain and Oman

scion Industrial Engineering

GCC countries and Türkiye will start negotiations on a free trade agreement to boost economic ties between the various parties.

Gulf Cooperation Council (GCC) Secretary General Jasem Mohamed Albudaiwi and Republic of Türkiye Minister of Trade Dr. Omer Bolat have signed an agreement to start negotiations on a Free Trade Agreement (FTA) in a move that, according to Albdaiwi, proves the robust and strategic partnership the two sides enjoy.

Albudaiwi also said that the agreement also showcases successful regional and international cooperation in the field of commerce, economy, and finance.

GCC-Türkiye trade
He said the close cooperation between Türkiye and the GCC countries helps boost economic relations, adding that there is mutual desire to further cooperate to expand trade and investment.

Albudaiwi stressed that Gulf countries are engaged in free trade negotiations with other nations, to open up trade opportunities, promote economic cooperation, and open up markets for their goods and services, adding that this is part of the bloc’s endeavour to diversify sources of income and foster economic growth.


Saudi Arabia takes bold strides toward greener future and carbon neutrality


Saudi Arabia has emerged as a key player when it comes to environmental responsibility, setting ambitious targets to mitigate greenhouse gas emissions via carbon credit offsets.

At the forefront of Saudi Arabia’s environmental initiatives is the dynamic approach to carbon neutrality. The Kingdom is determined to not only reduce its carbon footprint but also actively contribute to offsetting emissions through a comprehensive carbon credit program.

In an interview with Arab News, Louis Corapi, chief financial officer at Gulf Cryo, a Dubai-based gas firm, shed light on the significance of this initiative, following the company’s launch of a carbon capture and utilization facility in Rabigh.

“Through Vision 2030 and the 2060 commitment to carbon neutrality, Saudi Arabia set clear sustainability goals. Carbon credits are an important component of this strategy. Having an exchange is itself a signal to companies that this commitment is about action and requires broad participation,” Corapi said.

He added: “Secondly, credits will need to be independently verified to be counted. This field is still developing, but we’re confident that it will help to stratify the most and least effective projects.”

Corapi further added that the assignment of dollar values to carbon credits represents a transformative shift in incentivizing sustainability initiatives for companies. By attaching a monetary value to these credits, businesses gain a financial mechanism to support projects that might face challenges in traditional boardroom approvals.

“We also recognize that there are industries that are both hard to abate and vital to global economies,” he added.

Saudi Arabia is pursuing carbon neutrality with a multi-pronged approach that touches on everything from transportation to energy.

The Kingdom realizes how critical it is to actively pursue offsetting measures in addition to actively reducing its own emissions.

“What’s less discussed is that there are also many industries that require carbon dioxide as a key component to their manufacturing process. That started to change in 2014 when Gulf Cryo, together with our partner Equate, started a carbon capture plant in Kuwait,” Corapi explained.

He added: “We just commissioned a new CO2 capture plant in Petro Rabigh and are constructing the plant at Ma’aden. Together these plants will capture over 1,000 metric tonnes of CO2 per day which means 1,000 tonnes per day of fossil fuel burning is permanently stopped.”

For many years, carbon dioxide emissions have been removed and stored using carbon capture utilization and storage methods, which also enhance the quality of natural gas.

In addition to ensuring fossil fuels satisfy the world’s pressing energy demands, carbon capture simultaneously lowers emission levels and provides a means of assisting in the achievement of net-zero emissions by 2050.

Saudi Arabia declared a target of 44 million tonnes of carbon capture year by 2035, setting a high standard for emission reduction.

By 2027, Aramco and the Kingdom’s Ministry of Energy hope to build a hub in Jubail with a 9 million tonne annual storage capacity.

“Today, projects are only viable when there is a clear end user for the CO2. As long as businesses continue to evaluate investments with classical financial models, decisions are delayed, and emissions continue unabated,” Corapi said.

Furthermore, when asked for his opinion on what could be done better to implement carbon credit offset strategies, Corapi noted that “there is so much more to do, and that we don’t have time to waste,” adding: “We’ve demonstrated that effective technologies exist, but equipment is expensive to install.”

He went on to say: “Today, projects are only viable when there is a clear end user for the CO2. As long as businesses continue to evaluate investments with classical financial models, decisions are delayed, and emissions continue unabated.”


WTO’s Abu Dhabi Declaration to empower least developed nations


The least developed countries are set to benefit from the Abu Dhabi Declaration at the 13th WTO Ministerial Conference, improving global supply chain access.

Trade deals, aimed at fostering new agreements, will extend international trading system benefits to more nations, following intensive negotiations, as reported by the UAE’s official news agency, WAM.

Members have agreed to implement Special and Preferential Treatment for Sanitary and Phytosanitary Measures and Technical Barriers to Trade. This effort supports producers in the least developed countries, facilitating their global supply chain access, the WAM report stated.

It added that the current measures of SPS constitute a staggering 90 percent of non-tariff trade barriers, posing a significant obstacle for smaller nations and being viewed as discriminatory.

In a significant development for developing countries, ministers approved a decision responding to a 23-year-old mandate. The aim is to revamp special and differential treatment provisions for improved precision, effectiveness, and operational functionality.


Regional startup activity continues to rise ahead of LEAP24

Startup momentum in the Middle East and North Africa region is on the rise, with the eagerly awaited technology event LEAP24 just around the corner.

Regional venture capitals have replenished their funds and burgeoning enterprises have secured financing – preparing Riyadh’s ecosystem for a significant entrepreneurial uplift from March 4 to 7.

US-based fintech MoneyHash sealed $4.5 million in a seed funding round to further expand its presence in the Saudi and regional markets.

The round was co-led by the UAE’s COTU Ventures and Saudi Arabia’s Sukna Ventures, with additional investments from RZM Investment, Dubai Future District Fund, VentureFriends, and several angel investors.

Founded in late 2020 by Nader Abdelrazik, Mustafa Eid, and Anisha Sekar, MoneyHash is in the field of payment orchestration, offering a comprehensive payment operating system as a service designed to tackle the diverse technological and product challenges encountered by enterprise merchants.

“COVID certainly boosted the adoption of digital payments in the region, but the infrastructure remains significantly underdeveloped,” Abdelrazik said.

“In MEA, payment failure rates are three times the global average, and fraud rates and cart abandonment are over 20 percent higher than in all other regions. This places merchants in a challenging position, viewing payments as a cost and risk center rather than a strategic enabler,” he added.

Following a $3 million pre-seed round in 2022, the newly acquired funds are earmarked for expanding the business team, enhancing growth capabilities, and sustaining technological advancement.

Saudi investment firm acquires startup platform VeFund

The Saudi startup ecosystem is set to expand further with investment fund CoreVision acquiring VeFund, infusing artificial intelligence technologies for enhanced venture evaluation, innovation, and strategic growth.

The acquisition of VeFund, a regional platform for venture evaluation and investor connections, represents a significant step in CoreVision’s strategic growth, enhancing its portfolio with advanced AI-driven technologies.

The Saudi investment firm plans to use VeFund’s AI technology to support startups in navigating competitive environments.

Following the acquisition, CoreVision CEO Faisal Al-Abdulsalam will lead VeFund as its chief executive.

Al-Abdulsalam’s extensive experience and portfolio of over 80 investments in various sectors are set to bring a new strategy of leadership and vision to VeFund, the company said.

“We at CoreVision are not just investors, we see ourselves as ecosystem builders. As such, our vision is to transform VeFund into a secondary market for startups, offering a platform for investors to trade safe notes, which is essential in contributing to the vibrancy of the startup community here in Saudi Arabia,” said Al-Abdulsalam.

Launched in 2023 by Mohamed Gaber, an AI specialist and serial entrepreneur, along with co-founder Ahmed Magdy, VeFund’s intelligent evaluator provides a suite of tools, including an AI Survivability Index, valuation calculators, and extensive portfolio management solutions.

“I am excited about the future of VeFund and believe strongly that this transition will drive VeFund’s mission forward, fostering an environment of innovation and success for startups across the Middle East,” Gaber said.

VeFund currently has over 1,400 startups registered on its platform and has a database of more than 400 angel investors and investments funds spanning across Saudi Arabia, the UAE, Egypt, and Pakistan.

Saudi Arabia’s Tawaref inks MoU with Plus VC

Saudi Arabia’s Tawaref, recognized for financing regional startups and providing entrepreneurial services, has inked an agreement with Kuwait-based venture capital firm Plus VC.

The memorandum of understanding will see both firms collaborate to facilitate accelerated Saudi expansion for Plus VC’s startup portfolio companies through Tawaref’s Saudi Landing program.

This partnership underscores Plus VC’s recognition of the crucial role that Tawaref plays in minimizing the time to market for tech startups and assisting them in navigating the complexities of securing approvals from various government departments for establishing operations in Saudi Arabia.

The Saudi Landing program by Tawaref serves as a comprehensive solution, liaising with over 10 entities within the Kingdom.

It offers startups advice on market entry strategies, understanding regulatory requirements, and adapting to local business practices, thus streamlining the process for startups to establish and expand their presence in the Kingdom efficiently.

UAE’s COTU Ventures unveiled $54m fund

The UAE-based early-stage venture capital firm COTU Ventures has unveiled a $54 million inaugural fund dedicated to nurturing startups across the Middle East from pre-seed to seed stages.

Established in 2020 by Amir Farha, COTU Ventures boasts a dynamic portfolio of Mena startups, such as Huspy and MoneyHash.

This fund is set to provide robust support to startups from their inception to post-production launch, offering up to $2 million in investment, and earmarking additional capital for follow-on investments.

UAE’s Hayi raises seed round

The UAE-based social networking app Hayi has successfully raised an undisclosed amount in a seed funding round led by Plus VC, with additional backing from regional angel investors.

Launched in 2020 by founders Chris Darnell and Rene Morgan, Hayi is designed as a community-centric platform, facilitating connections among residents within the same neighborhood for the exchange of news and services.

This infusion of capital is earmarked for scaling Hayi’s operations, enhancing its marketing efforts, and broadening its presence both within the UAE and internationally.

This follows a pre-seed investment of $325,000 in 2021 from Sarya Holdings and Falak Startups, marking a continued trajectory of growth and expansion for the company.


Saudi non-oil exports to GCC nations surge by 42% to hit $5.55bn

Scion Industrial Engineering

Saudi Arabia’s non-oil exports to Gulf Cooperation Council countries saw a 42 percent annual increase in the final three months of 2023, according to official data.

Information released by the Kingdom’s General Authority of Statistics showed the total value of these transactions reached SR20.8 billion ($5.55 billion), primarily due to an increase in re-exports, which rose by 106 percent to hit SR11.34 billion.

Re-exports – goods imported into a country and then exported to another without significant processing or alteration – accounted for 55 percent of total non-oil shipments to Bahrain, Kuwait, and Oman, as well as Qatar, and the UAE.

Among these GCC nations, the UAE emerged as the top destination, receiving 67 percent of the non-oil shipments from Saudi Arabia, totaling SR14 billion. Of these transactions, approximately 61 percent were re-exports, representing a 97 percent growth during this period.

Factors contributing to this surge in re-exports could include the solid economic bonds among GCC nations, fostering a unified market that facilitates the free flow of goods and services.

Saudi Arabia’s strategic position as a central hub within the GCC region could also minimize transportation expenses and transit durations due to its proximity.

Moreover, the Kingdom’s modern and well-developed infrastructure, encompassing ports, airports, and road networks, further streamlines the movement of goods, potentially influencing this uptick in re-exports.

Additionally, the GCC region’s strategic location on major trade routes allows for efficient redistribution of goods and services. Taking advantage of this, the countries are developing logistics hubs to facilitate the movement of both domestic and transit goods.

Saudi Arabia also aims to revolutionize its container-shipping sector, mirroring its efforts in non-oil industries like electric cars and renewable energy.

With plans to expand inland logistics hubs and improve rail connections, the country seeks to increase annual container throughput to 40 million twenty-foot equivalent units by 2030.

This ambition aligns with the grand scale of projects such as the $500 billion NEOM scheme, featuring a 170-km. city and a container port with a 9 million TEU capacity.

The giga-project will also include the Oxagon port, slated to become the largest floating structure globally, situated at the nexus of three continents.

The robust economic ties between the UAE and Saudi Arabia are further demonstrated through their mutual investments.

By the end of 2022, the UAE had amassed a significant foreign direct investment stock of SR104 billion in Saudi Arabia, as reported by the General Authority of Statistics. This substantial investment
plays a pivotal role in bolstering their economic partnership, fostering growth, and has paved the way for the expansion of non-oil trade activities between the two nations.

Transport equipment accounted for 31 percent of non-oil exports to the UAE from the Kingdom in the final quarter of 2023, reaching a value of SR4.39 billion in what is a 145 percent increase.

Machinery and electrical parts constituted another 27 percent, totaling SR3.75 billion with a 67 percent rise.

Additionally, chemical industry products accounted for 10 percent, reaching SR1.44 billion – a 17 percent increase during this period.

Among the GCC countries, trade with Qatar experienced the most substantial growth, with non-oil exports to the country soaring by 439 percent. Of these exports, 61 percent comprised transport equipment amounting to SR888 million, while 18 percent were chemical industry products totaling SR255 million.

Saudi Arabia and Qatar are actively working to enhance their economic, military, sports, and cultural ties. This push comes after the meeting of the Saudi-Qatari Coordination Council, attended by Crown Prince Mohammed bin Salman and Qatar’s Emir, Sheikh Tamim bin Hamad, in December.

The leaders consider the council vital for communication and coordination, underlining the importance of expanding cooperation to drive sustainable growth and prosperity for both nations and their citizens.

The trade balance with the GCC saw a substantial 90 percent annual increase in the fourth quarter of 2023, although imports still exceeded non-oil exports by SR489 million.

Around 68 percent of Saudi Arabia’s imports from the GCC countries originated from the UAE, which saw a 22 percent rise to SR14.37 billion.

In contrast, imports from other nations in the economic bloc decreased, with Kuwait experiencing the most significant decline of 49 percent to SR351 million.

Mineral products account for the largest share of imports from the UAE at 33 percent, amounting to SR4.8 billion, followed by pearls and other jewelry at 19 percent, totaling SR2.7 billion.

Industrial equipment, chemicals, and plastics made up 16 percent at SR2.3 billion.


Ugo Humbert dominates Alexander Bublik to claim glory at 32nd Dubai Tennis Championships

Ugo Humbert produced a ruthless masterclass to defeat Kazakhstan’s Alexander Bublik in straight sets and seal ATP 500 victory in the Dubai Duty Free Tennis Championships.

The French No. 5 seed, who rose to a career-high world No. 14 after his heroics in Dubai, made it a clean sweep of six titles in six ATP finals with a clinical 6-4, 6-3 dismantling of No. 7 seed Bublik, the world No. 19, in front of a capacity Center Court crowd at Dubai Duty Free Tennis Stadium.

Humbert, who defeated compatriot Gael Monfils, Britain’s Andy Murray, world No. 8 Hubert Hurkacz, and world No. 4 Daniil Medvedev to reach the final, unleashed his full repertoire of booming forehands and laser-like double-handed backhands to eclipse Bublik, who progressed past 2022 Dubai champion Andrey Rublev in a dramatic semi-final, which saw the No. 2 seed disqualified for unsportsmanlike conduct.

After tight opening exchanges where the pair were evenly matched, the final stayed on-serve until the 10th game when Humbert, who had failed to convert break points in Bublik’s two previous service games, finally broke the Kazakh’s resistance to clinch the first set 6-4.

With Bublik delighting the Dubai crowd with a combination of whipped forehands and a deft array of dropshots, Humbert, relaxed and controlled, raced into a 3-1 second set lead after breaking Bublik. From there, the 25-year-old left-hander relied on his own dominant serve – unbroken throughout the final – to close out the match on his second championship point.

Humbert, who claimed the winner’s prize of $550,140, said: “I played a fantastic level all through the week, but it was not easy. I really don’t know how I stayed calm.

“I have too much respect for (Bublik), he’s such a nice guy on and off the court, and congratulations to him on a great start to the year.”

Bublik said: “This week has had almost everything for me, and I can’t wait to come back here again in 2025.

“Before the final, I thought if I won, I would dedicate it to my son, but sorry, maybe next time,” the 26-year-old, who bagged the runner-up prize of $296,000, added.

In the men’s doubles final, the Netherlands’ Tallon Griekspoor and Germany’s Jan-Lennard Struff narrowly defeated Croatia’s Ivan Dodig and the US’ Austin Krajicek 6-4, 4-6, 10-6.

With a pair of service breaks enough to settle the opening two sets, Griekspoor and Struff came from 1-3 down in the deciding super tiebreak, winning nine of the last 12 points to claim a maiden Dubai title and a share of the $180,700 prize pool. Beaten finalists Dodig and Krajicek split a runners-up purse of $96,370.

After the match, Griekspoor said: “It’s the first time we’ve played together, so maybe we should keep it one week. We played really well and had a great time; it was a lot of fun on court. I had such a pleasure on court this week.”

Colm McLoughlin, executive vice chairman and CEO of Dubai Duty Free, said: “This magical evening has provided a fitting end to a memorable Dubai Duty Free Tennis Championships fortnight. We have seen crowds of over 45,000-plus revel in match after match of wonderful tennis during the men’s ATP 500 week.

“Our congratulations go to the 2024 Dubai Duty Free Tennis Championships winners, men’s singles champion, Ugo Humbert, and our doubles champions, Tallon Griekspoor and Jan-Lennard Struff – all truly worthy winners.

Ramesh Cidambi, chief operating officer of Dubai Duty Free and chairman of the tournament organizing committee, said: “This year’s ATP 500 at the Dubai Duty Free Tennis Championships has, once again, exceeded our expectations with a week of scintillating tennis, unbelievable moments on and off court, and enthusiastic grandstands.

“Thank you to all the players, officials, and fans who have contributed to the runaway success of the 32nd Dubai Duty Free Tennis Championships. We look forward to welcoming you back to the Dubai Duty Free Tennis Stadium in 12 months’ time.”