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LOGISTICS-
FedEx Express launches new cargo hub at DWC: Air cargo express delivery giant FedEx Express has inaugurated a new AED 1.3 bn Middle East, Indian Subcontinent and Africa (MEISA) hub at Dubai World Central (DWC) Airport in Dubai South, according to a Dubai Media Office (DMO) statement. The 57k square meter hub incorporates technologies such as automatic sort systems which look to streamline package processing and distribution, the statement said.
MANUFACTURING-
Magsort’s green tech will decarbonize the steel value chain: UAE’s largest steel maker Emirates Steel Arkan and Finnish climate tech company Magsort will initiate pilot testing for an initiative to cut up to 15% of CO2 emissions from the steel maker’s Al Ain Cement Factory, according to a press release. Magsort’s technology is being used to process steel slag — a calcium-rich by-product of steel making — in efforts to decrease limestone and fuel consumption. The plant will be the first of its kind for the region, and comes on the back of Emirates Steel Arkan’s efforts to reach the country’s 2030 decarbonization targets four years ahead of schedule, CEO of EmsteelBuilding Materials — a subsidiary of Emirates Steel Arkan — Hugo Losada said.
TECH-
#1- Uzbekistan to adopt UAE-run AI: Uzbekistan’s digital technology ministry inked an agreement with Abu Dhabi’s Advanced Technology Research Council (ATRC) to integrate the UAE’s AI-powered Falcon Large Language Model (LLM) in its technological infrastructure and government services, according to an ATRC statement.
ICYMI: Last week, Brazil and Serbia also agreed to adopt the open-source LLM in a bid to advance their governments’ tech infrastructure during the World Government Summit.
#2- Abu Dhabi’s Economic Development Department and Hub71 are launching a program to connect startups in key sectors with their regulatory authorities, according to the Abu Dhabi Media Office. The “regulatory sandbox program” targets healthtech, mobility, and agritech companies close to market entry stage, allowing them to test emerging technologies with regulators ahead of launch.
#3- AI office + UNDP partner to accelerate AI adoption: The government’s AI office inked a partnership agreement with the United Nations Development Programme (UNDP) to promote leveraging AI technologies to achieve the sustainable development goals, Wam reports.
BANKING-
Adib launches new payment platform to streamline remittance transfers:Abu Dhabi Islamic Bank partnered with payment solutions company ProgressSoft to launch a new payment platform that it says will simplify the integration of cross-border services and speeds up cross-border remittances, state news agency Wam reports.
EDUCATION-
The Education Ministry wants to make it easier for higher education institutions in the Ajman Freezone to obtain licenses, according to a press release.
WASTE MANAGEMENT-
IFFCO Group’s Noor Oil and Bee’ahhave launched a recycling campaign to recycle cooking oil into biodiesel, according to a statement. The campaign involves placing Bee’ah machines in several locations across the country — including Sharjah National Park, Al Gharayen, and Dubai’s JLT — where consumers can drop off their used cooking oil and pick up a clean bottle in its place.
IFFCO is boosting sustainability efforts: IFFCO earmarked AED 77 mn for its corporate ESG strategy, with 156 projects in the pipeline, back in November.
GREEN ENERGY-
SkyPower Global to build solar plant in Congo: The Africa Finance Corporation (AFC) has contracted UAE-based firm SkyPower Global to develop a 200 MW solar plant in the Democratic Republic of the Congo, company CEO Kerry Adler told Khaleej Times. The project marks the first phase of the USD 200 mn, 1 GW DRC Green Giant project slated for completion within 18-24 months.
RETAIL-
Dubai Municipality inked a partnership with Majid Al Futtaim to establish a digital food security platform aimed at sharing “strategic food commodity data … to ensure that all members of society have access to healthy, safe, nutritious, and affordable food, even in times of crisis and emergencies,” Dubai Municipality Environment Agency CEO Alia Al Harmoodi said in a press release.
STARTUPS-
UAE-based Edtech startup Thiqa Tutoring bagged USD 300k in funding from Bahrain-based Hope Funds’ VC Hope Ventures, private sector investor Mashael Fairooz, and angel investor Lamya Mahmood through their participation in the third season of the entrepreneurship-themed reality television show Beban, Wamda reports.
