Sign in
AVIATION-
Sanad + Airbus form MRO partnership: Sovereign investment fund Mubadala’s aerospace engineering and leasing subsidiary Sanad is partnering with Airbus to provide maintenance, repair, and overhaul (MRO) for Airbus engines, Wam reports. The partnership was signed on the sidelines of the Farnborough International Airshow. Under the partnership, Sanad will provide MRO services for Airbus single aisle aircraft engines, including A320 and A321, as well as wide-body aircrafts including the A330. .
ENERGY-
A potential new SAF venture between Masdar and TotalEnergies: UAE’s renewables giant Masdar and French oil major TotalEnergies signed an agreement to explore the feasibility of a sustainable aviation fuel (SAF) project using methanol produced from commercial green hydrogen, according to a statement last week. Details related to the costs of the potential project were not disclosed.
What we know: The project will focus on decarbonizing “hard to abate, emission intensive sectors” including aviation and maritime industries, according to the statement. It will use green hydrogen generated from renewable-powered electrolysis, and will also capture CO2 from an industrial source to be used as a feedstock.
IPO-
Abu Dhabi-backed US chipmaker to go public: Abu Dhabi-backed Cerebras Systems, an AI-focused chipmaker startup, is planning to go public in the United States after filing for the potential IPO with the US Securities and Exchange Commission (SEC), the startup said.
Background: In 2021, the Silicon Valley startup secured USD 250 mn in a series F funding round that saw the participation of Abu Dhabi Growth Fund and G42, valuing Cerebras at USD 4 bn. Additionally, G42 inked a USD 100 mn agreement with Cerebras last year to deliver nine AI supercomputers, three of which will be purchased by the Emirati AI firm.
BANKING-
RAKBank rated A: Capital Intelligence affirmed the National Bank of Ras Al Khaimah’s (RAKBank) A long term foreign currency rating and an A1 short term foreign currency rating with a stable outlook, according to a disclosure (pdf).
REAL ESTATE-
Samana Developers unveils Dubailand project: Dubai-based Samana Developers has launched Samana Avenue, a new “affordable luxury” development in Dubailand’s Dubai Land Residence Complex, according to a press release. The 16-storey residential project will contain 165 units and is scheduled for delivery by December 2027. Samana also has 17 new projects in its pipeline for 2024, the release said.
JUDICIARY-
CBUAE + Dubai Courts link case management systems: The Central Bank of the UAE (CBUAE) inked an MoU with Dubai Courts to digitally connect their court case management systems, according to a statement (pdf). The partnership aims to help expedite the implementation of the Courts’ orders and decisions.
TECH-
Vertiv to develop 16 MW data center for GDH: Database manager Gulf Data Hub (GDH) struck a multi-year partnership with US digital infrastructure and data center developer Vertiv to build a new 16 MW data center for GDH in Dubai, Wam reports. Located in Dubai Silicon Oasis, the data center will focus on advancing biotech research and renewable energy generation in the emirate. The new facility will be built utilizing Vertiv’s digital infrastructure to enhance GDH’s operational and power usage efficiency.
