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CAPITAL MARKETS-
#1- Lunate’s global sukuk ETF with JP Morgan is now live on the ADX, according to a statement (pdf). The Chimera JP Morgan Global Sukuk ETF tracks the JP Morgan Global IG Sukuk Index and offers investors access to some 75 Sukuks from global issuers, each with at least USD 500 mn outstanding. This marks the 14th ETF listing on the ADX.
MANUFACTURING-
#1- Agthia in KSA: ADQ-owned F&B firm Agthia launched its protein manufacturing facility in Saudi Arabia’s Industrial City 1, an ADX filing (pdf) reads. The AED 90 mn facility can produce up to 9k tons of manufactured protein and will export to more than 25 countries, according to the statement.
REMEMBER- Agthia announced the planned KSA expansion in May 2022 in response to strong demand from local customers. The F&B firm is also looking to set up an export facility in Egypt to serve markets in the Gulf and North Africa, according to Mubarak Al Mansoori, head of the company’s snack sector and government relations.
RETAIL-
Abu Dhabi’s quality watchdog to conduct product inspections at ADGM: Abu Dhabi Quality and Conformity Council (ADQCC) will cooperate with Abu Dhabi Global Market’s (ADGM) registration authority to inspect a range of restricted products, including household electrical appliances and chemical cleaners, tobacco and cigarette products, and vehicle tires, according to a statement. ADQCC will also verify the measurements of pre-packaged goods such as jewelry scales, oud, Arabic perfumes, and fuel meters at commercial centers within ADGM.
CUSTOMS-
Dubai Customs launched its blockchain platform, which aims to speed up customs clearance procedures, boost data security, and cut down on paperwork, a statement from the Dubai Media Office said. The platform will also enable real-time tracking of goods.
MARITIME-
Gov’t launches maritime monitoring tool: The Energy and Infrastructure Ministry launched Satgate, a networking tool that uses satellite and AI tech to enhance ship location efficiency, monitor sea conditions, and forecast weather, aiming to strengthen the UAE’s position within the global maritime sector, Wam reports. Launched in partnership with the Mohammed bin Rashid Space Centre, the project aims to establish a ship database for UAE ports to bolster maritime facility security and track ships without tracking devices.
AVIATION-
Zett Fly Aviation approved to launch Air Kerala, plans domestic and Gulf routes: Dubai-based investors of Kerala’s Zett Fly Aviation have received an initial no-objection certificate from India’s civil aviation ministry to launch regional commuter air transport services, Gulf News reports. The airline, to be dubbed Air Kerala, aims to start domestic flights within Kerala using ATR 72-600 aircraft once it secures an air operator’s certificate from the ministry.
Air Kerala plans to raise INR 250 crore (AED 109.9 mn) for the initial phase, which will cover domestic operations, Chairman Afi Ahmed said. The plan is to later expand into an “international airline serving the Gulf-Kerala sector at affordable fares,” he added.
BANKING-
#1- CBD enters exclusive partnership with Visa for payment cards: Commercial Bank of Dubai (CBD) inked an exclusive partnership agreement with Visa for its credit and debit cards, according to a statement from the lender picked up by Zawya. The partnership will also see CBD and Visa establish a center of excellence that will gather data and insights to inform CBD on improving its customer experience and offering tailored business solutions.
#2- Ajman Bank customers will now be able to make transactions using the Aani platform after the bank completed the integration of the central bank-backed instant payment system, according to a statement from the bank.
ICYMI- Ajman integrated the central bank-backed card Jaywan into its ATMs network last month. Both Jaywan and Aani were launched by the central bank’s digital payments arm Al Etihad Payments as it seeks to accelerate digitalization of the payment sector.
INFRASTRUCTURE-
Al Ain kicks off AED 39 mn project to improve road safety, wildlife conservation: The municipality of Al Ain city has broken ground on a AED 39 mn project to upgrade barrier fencing along 11 main roads to prevent animals from crossing and avoid wildlife-vehicle collisions, Wam reports. The project is scheduled to be completed by 1Q 2025.
LOGISTICS-
Sharjah Publishing City Freezone teams up with Aramex to lure investors: Aramex has signed an MoU with the Sharjah Publishing City Freezone (SPCFZ) that will give businesses operating in the zone access to the logistics firm’s global network, in turn offering Aramex’s clients with incentives to set up projects in the SPCFZ, according to an Aramex statement picked up by Zawya.
INVESTMENTS-
Sharjah attracts Japanese tech investment: A Japanese delegation headed by Jun Imanshi, the consul general of Japan in Dubai, met with CEO of Sharjah Research, Technology and Innovation Park Hussain Al Mahmoudi, to discuss cooperation and potential investments in tech, according to a press release.
TELECOMS-
e& to deliver ultra-fast connectivity: Telecoms giant e& deployed 50-gigabit-capable passive optical networks, delivering internet speeds up to 50 gigabits per second, a press release reads. The high-band network connection will enable “faster streaming of high-definition videos and quicker downloads and uploads, [to support] the growing number of smart devices at homes, from smart TVs to connected appliances,” the statement said.
HEALTHCARE-
Three new nursing residency programs coming up: The National Institute for Health Specialties (NIHS) approved three new specialized nursing programs, slated for launch this year, according to a statement from the Health and Prevention Ministry. The residency programs include one for fresh nursing graduates, one in critical care for adults, and another one in nursing care for mental health.
