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DEBT WATCH-
Barakah One’s AED 8.89 bn refinancing for its 5.6 GW nuclear energy plant has been recognized as a green loan in a nod to the plant’s contribution to the UAE’s green economy, according to the Abu Dhabi Media Office. The classification is the first in Asia and Africa for a nuclear plant, and second globally.
Background: The Emirates Nuclear Energy Corporation’s (Enec) financing and commercial subsidiary refinanced its existing loans for the plant with Abu Dhabi Commercial Bank and First Abu Dhabi Bank in July 2023 to convert the facilities into green loan financing.
ICYMI-Earlier this month, Enec’s operating and maintenance subsidiary Nawah Energy Company started up the plant’s fourth unit. The fourth unit has generated more than 60GWh of clean electricity. After starting full commercial operations later this year, the plant expects to offset some 22.4 mn tonnes of emissions with 40 TWh of generated electricity annually.
LOGISTICS-
#1-UAE to launch Blue Pass platform for maritime sector: The Energy and Infrastructure Ministry has inked an agreement with technology and digital services company NeoNautica to develop and operate the UAE Blue Pass platform, which provides facilities for the maritime sector, Wam reports. The platform offers maritime companies within the UAE and commercial ships at UAE ports with a package of privileges to promote the sector’s attractiveness to investors.
#2- DP World has added upwards of 100 offices to its global freight forwarding network, with Miami being the latest location to open, as the outfit looks to offer flexible and resilient supply chain solutions to clients worldwide, against a backdrop of increased disruptors to trade from climate change, geopolitical turmoil, and macroeconomic shocks, Wam reported. DP World’s freight forwarding network assists in the movement of some 10% of global trade.
AVIATION-
#1- Etihad, GCAA roll out aviation emission reduction framework: The General Civil Aviation Authority (GCAA) inked an MoU with Etihad Airways and French aerospace tech provider Thales to implement Thales’ orchestrator for eco-friendly trajectories solutions aimed at advancing environmental sustainability in the aviation sector, according to a press release. Thales’ service allows passengers to optimize their flight plans by choosing more efficient plans and adjusting their flight profiles.
#2- dnata receives CEIV accreditation for lithium battery handling: dnata was granted the International Air Transport Association’s Centre of Excellence for Independent Validators (CEIV) accreditation for its safe handling of lithium batteries, according to a Dubai Media Office statement. The accreditation makes dnata the first ground services provider to attain certification for all 11 of its worldwide stations.
HOSPITALITY-
Aman Group debuts in UAE with Aman Dubai: Swiss-based hospitality group Aman is set to open its first hotel in Dubai through a partnership with UAE-based real estate investment company Bright Start and real estate developer H&H Development, according to its website. The project, set to open its doors within three years, will be located in Jumeirah 2 and will include Aman-branded residences, a 2k sqm spa, restaurants, and an Aman club.
FINTECH-
You can now use your digital wallet to make purchases at Dubai Dutyfree (DDF), thanks to a partnership between DDF and TerraPay, the Fintech Times reports. The partnership allows DDF to tap into TerraPay’s network, covering over 2.2 bn mobile wallets globally.
EDUCATION-
The United Arab Emirates University inaugurated the first genetic counseling master’s program in the UAE,with support from Abu Dhabi’s Department of Health, reports Wam. The two-year program is being offered at the university’s college of medicine and health sciences under the genetics and genomics department, and aims to improve clinical counseling capabilities across several genetic disorders, including pediatric genetic assessment, prenatal diagnosis, cancer, and adult genetics.
