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FINTECH-
EITC obtained licenses from the CBUAE to provide digital finance services: Emirates Integrated Telecommunications Company (EITC) — more commonly known as du — received licenses from the Central Bank of the UAE to offer new digital financial services, according to a press release. The licenses will allow telecommunications company du to provide a variety of digital financial services “that align with the evolving needs and preferences of customers in the digital era,” according to the release.
EDUCATION-
Dubai will establish a new university backed by a AED 400 mn donation from luxury real estate firm Sobha Realty as part of the Mother’s Endowment fund, an X post by Dubai’s crown prince.
The Sharjah National Oil Corporation will fund six research projects within the American University of Sharjah’s College of Engineering, after the two inked an agreement yesterday, reports Wam. The projects focus on zero-emission fuel cell electric vehicles, hydrogen infrastructure, sustainable wastewater treatment, and ultrasonic and microwave non-destructive testing for pipe inspection. A portion of the funds will go towards developing a sustainability index model to guide the selection of sustainable contractors.
INFRASTRUCTURE-
#1- Dubai’s Roads and Transport Authority (RTA) is expanding a project aimed at cutting down response times to road accidents, according to a statement. By the end of 2024, the Traffic Incident Management Unit project will integrate four more main road corridors, expanding coverage to 17 traffic corridors and streets from 13 currently. The project involves the introduction of temporary traffic detours, aid for drivers, and assistance in managing traffic during events. There will be strategically positioned rapid response vehicles to promptly reach accident sites, with a goal of achieving a 10-minute response time and 15-minute clearance time.
#2- The RTA also completed the third phase of its accessible facilities project, according to the Dubai Media Office. Around 26 facilities, including the head office, bus stations, parking terminals, customer centers, administrative buildings, and Al Jaddaf Marine Transport Station, now meet set standards.
LOGISTICS-
Emirati port operator DP World is set to develop a new USD 50 mn logistics center in South Korea’s Busan New Port, according to a statement released last week. Construction on the DP World Busan Logistics Centre (BLC) is slated to begin at the end of the year with operations kicking off by 2Q 2026, the statement notes.
What we know: BLC will cover 75k sqm and have the capacity to process some 80k TEUs of cargo a year by 2028. The facility will provide assembly, processing, and packaging to local and regional customers while specializing in the handling of key South Korean exports including cars, automotive parts and materials, fishery equipment, and machinery, the statement said.
HEALTHCARE-
#1- Healthcare services platform Burjeel Holdings plans to become carbon neutral and is aiming for zero waste to landfill by 2040, as part of its new environmental, social, and governance (ESG) strategy, state news agency Wam reports. The company also plans to reduce water consumption by 10%, implement patient education programs, and secure accreditations for its hospitals.
#2- Hayat to ramp up healthcare delivery in Kenya: Abu Dhabi-based pharma firm Hayat Biotech inked an agreement with Kenya BioVax Institute to bolster vaccine manufacturing in Kenya, according to the Abu Dhabi Media Office. The agreement will see the health players swap expertise and establish task forces and educational grant programs to boost capacity building, with monitoring and evaluation systems implemented to track progress.
#3- More supplements coming to the UAE: Chicago-based healthcare group Cosmos Health received a Consumer Product Registration Certificate from Dubai’s Public Health and Safety Department, allowing it to sell its Sky Premium Life vitamins and supplements in the UAE for five years, it said in a statement.
BUSINESS-
ADCCI and ADGM ink agreement to strengthen Abu Dhabi’s business environment: The Abu Dhabi Chamber of Commerce and Industry (ADCCI) inked an agreement with Abu Dhabi Global Market (ADGM)’s Registration Authority to bolster the business and investment environment in Abu Dhabi, according to a press release. This collaboration focuses on simplifying the registration and licensing processes for freezone companies and easing their membership into the chamber. It also emphasizes collaboration in exchanging information, sharing data, producing economic reports, and organizing events to boost dialogue and networking.
REAL ESTATE-
#1- Aldar sells Abu Dhabi penthouse for AED 137 mn: Abu Dhabi-based real estate developer Aldar Properties sold the emirate’s “most expensive apartment“ for AED 137 mn at its beachfront project, Nobu Residences on Saadiyat Island, according to a press release (pdf). Spanning 1.4k sqm, the three-bedroom penthouse was sold at over AED 96k per sqm “[representing] the highest price achieved in the emirate,” the press release reads.
#2- Adrec teams up with Bayut, Property Finder to improve real estate regulatory environment: Abu Dhabi Real Estate Centre (Adrec) inked two MoUs with real estate platforms Bayut and Property Finder to improve real estate data accuracy and help streamline property purchasing for customers, according to a statement from the Abu Dhabi Media Office. The partnerships will see Adrec cooperate with the two platforms to organize programs and workshops geared towards gathering market insights from sector players, monitoring property advertisements, addressing regulatory issues, and promoting real estate locally and internationally.
ENERGY-
#1- Lootah + UAE partner on biofuels: The Energy and Infrastructure Ministry and Lootah Biofuels have signed an MoU to develop, promote, and utilize biofuels in the UAE, according to a statement. Lootah and the ministry will collaborate on research and development efforts to establish a biofuels market in the UAE and exchange knowledge through workshops and seminars for industry stakeholders.
Not their first partnership: The ministry signed an agreement with Lootah last month to collaborate on energy initiatives, promote the use of biofuels, raise awareness about sustainable fuel alternatives, and facilitate knowledge exchange in the biofuels sector.
#2- The UAE is now a member of the Response and Assistance Network, an International Atomic Energy Agency (IAEA) network geared towards international nuclear and radiological emergency assistance, Wam reports. The UAE’s capabilities in radiation survey, analysis, radiological assessment, medical support, and nuclear installation assessment will now be accessible to all IAEA Member States.
SPORTS-
Kalm sets up shop in Abu Dhabi: Esports consultancy for player development Kalm inaugurated its global headquarters in Abu Dhabi, with support from Abu Dhabi Investment Office ’s Access Abu Dhabi program, according to the Abu Dhabi Media Office. Kalm will use its new office in the emirate to network with government, private sector, federation, and team stakeholders, and promote its data science and AI-powered athlete health and wellbeing strategy in the region.
About Access Abu Dhabi: The program fast-tracks global reach for companies — particularly those founded by women and “minorities” — by providing them with expansion windows to Abu Dhabi.
FOOD AND BEVERAGE-
Biggest caviar packing facility launched in Abu Dhabi: GCC conglomerate OJO Group and Elevate Investments launched a caviar packing facility in Abu Dhabi under the Numero Uno brand, a press release reads.
