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GREEN ENERGY-
#1- Masdar inks agreement to supply green hydrogen to European trucks: Abu Dhabi-based renewables firm Masdar inked an initial agreement with German vehicle manufacturer Daimler Truck to explore supplying liquid green hydrogen to power fuel cell rig trucks in Europe by 2030, according to a statement from Masdar. The agreement could potentially “enable a significant reduction of CO2-emissions in road freight transport in Europe,” while supporting “the UAE’s ambition to become a leader in the low-carbon hydrogen market by 2031,” Masdar CEO Mohamed Jameel Al Ramahi said.
Background: Masdar has pledged investments in projects worth some USD 30 bn, with plans to hit a production capacity of 100 GW by 2030 .
SOUND SMART- A fuel cell is a power generator that converts chemical energy into electrical energy from hydrogen or hydrocarbon. The technology is primarily used in heavy vehicles and mobile electricity generators.
#2- Dubai-based floating energy structures startup Floating Man is in talks to launch a new floating solar power plant,CEO Mehdi Honarvar told PV magazine. The company is currently negotiating to find a suitable location to install the offshore solar farm, which will operate with 200 solar panels with a generating capacity of up to 700 W.
REAL ESTATE-
Sharjah-based property developer Arada saw its sales double to AED 7.02 bn in 2023, bringing the total value of sales since its launch to AED 16.3 bn, according to a press release. The developer sold 2,824 homes, up 25% y-o-y, and constructed 2,610 units in its most popular communities — the Aljada mixed-use community and Masaar forested master community — last year. The latter was the company’s best-performing project, collecting AED 3.64 bn in sales. Aljada and Arada’s Dubai development, Jouri Hills at Jumeirah Golf Estates, followed with property sales collectively valued at AED 3.41 bn.
Up next: Arada is developing 3.3k new residences across its Aljada, Masaar, and Jouri Hills developments, targeting AED 10 bn in sales by the end of the year.
TRADE-
#1- Abu Dhabi and Italy eye trade boost: The Abu Dhabi Chamber of Commerce and Industry (ADCCI) discussed strengthening bilateral trade and investment between the emirate and Italy during a meeting held with a high-level Italian business delegation, according to a statement from ADCCI. The Italian delegates represented 12 companies across key sectors, including F&B, construction, fashion, marketing, marine, and aquaculture industries. The meeting saw the Chamber and the delegation identify more than 120 potential partnership prospects.
#2- Energy Ministry eyes more cooperation with JETRO: Energy Ministry officials met with a delegation from JETRO in Abu Dhabi on Thursday and discussed ways to strengthen joint cooperation, according to a ministry statement. The meeting also involved a review of the ministry’s mineral wealth strategy and potential for mining in the UAE.
EDUCATION-
DP World has launched its global education platform as part of a USD 35 mn education pledge to help train students and educators in science and logistics without charge, according to a company statement. The company pledges to teach 1.5 mn students through more than 15 specialized resources and e-learning courses tailored for individuals aged 11-18, as well as educators and professionals, according to a Dubai media office statement.
INVESTMENTS-
Abu Dhabi, Apollo Global Management seek more avenues for investment collaboration: Crown Prince Khaled bin Mohamed bin Zayed Al Nahyan and private equity firm Apollo Global Management CEO Marc Rowan reviewed their joint investments yesterday and explored further avenues for collaboration, according to an Abu Dhabi Media Office statement. Mubadala Investment Company’s deputy group head, Waleed Al Mokarrab Al Muhairi, and Abu Dhabi Executive Council secretary general, Saif Saeed Ghobash, were also in attendance.
ESS + Siemens + Emerson to join forces: Abu Dhabi-based tech solutions firm Emirates Smart Solutions (ESS) inked a cooperation protocol with Siemens Egypt and US software provider Emerson to provide tech solutions to enhance Egypt’s industrial infrastructure as the companies eye ramping up their investments in Egypt and Africa, Albayan reports.
LOGISTICS-
GulfNav gets drones from Wings Logistics Hub: Multi-Level Group’s smart logistics company Wings Logistics Hub will provide DFM-listed maritime and shipping company Gulf Navigation Holding with drones to help with “transporting light cargo, heavy cargo, passenger drones, firefighting, mapping and surveillance,” under an MoU inked by the two companies, according to a press release. The agreement also involves exploring autonomous light vehicles, and AI solutions in maritime.
AVIATION-
Air Arabia launches direct flights between Sharjah and Athens: Budget airline Air Arabia will now fly directly from Sharjah to Athens four times a week from Sharjah International Airport starting 28 June, the carrier said in a statement.
HOSPITALITY
IHG to operate Dubai Côte d’Azur Monaco Hotel: IHG Hotels and Resorts signed an agreement with Dubai’s island resort, The Heart of Europe, Kleindienst Group ’s flagship project, to operate the Côte d’Azur Monaco Hotel under the voco brand and rebrand the hotel as voco Monaco Dubai, according to a press release.
