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AVIATION-
Israel Aerospace Industries’ aviation arm to set up shop in Abu Dhabi: Israel Aerospace Industries (IAI)’s aviation arm will reconfigure 10 Boeing 777s from Emirates’ fleet into cargo freighters at two hangars starting in October, marking its entry into Abu Dhabi, Bloomberg cites IAI’s Executive Vice President, Shmuel Kuzi, as saying in an interview. The move adds to IAI’s conversion sites in South Korea, the US, and the Etihad Airways Engineering facility in Abu Dhabi.
Not IAI’s first time converting aircraft for Emirates: The two sides previously inked an agreement in 2021, which saw IAI convert four aircraft for Emirates.
FUEL-
Cafu debuts in Ras Al Khaimah: On-demand car fuel platform Cafu has launched its services in Ras Al Khaimah, with fuel delivery services offered as a start, according to a statement picked up by Zawya. Residents will be able to order fuel directly to their vehicles’ location via Cafu’s app.
About Cafu: Cafu currently operates in Dubai, Abu Dhabi, Sharjah, Ajman, and Umm Al Quwain, offering fuel delivery, car wash, oil change, tire change, battery change, and towing services.
TECH-
Open-source intelligence firm IScann Group has launched a new regional office in Dubai, which will oversee the company’s operations in the Middle East, according to a statement from the company. IScann — which has offices in Singapore, the UK, and Japan — plans to leverage the UAE’s favorable crypto and blockchain regulatory environment to provide clients with open-source intelligence and data analytics services.
AUTOMOTIVE-
Elite Group to bring Soueast’s vehicles to the UAE: Local conglomerate Elite Group Holding has partnered with Chinese automaker Soueast Motor to introduce its vehicles in the UAE market, according to a statement picked up by Zawya.
Soueast has ambitious plans ahead: Soueast announced earlier this year it plans to launch 13 new models over the next five years, including plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs) offered in SUV and sedan designs.
DEBT-
Warba Bank lists USD 500 mn sukuk on Nasdaq Dubai: Kuwait’s Warba Bank listed USD 500 mn sustainability sukuk on Nasdaq Dubai on Monday, the first of its kind to be issued in Kuwait, according to the Dubai Media Office. The five-year issuance, which was 3.6x oversubscribed, is part of Warba’s USD 2 bn trust certificate issuance program. This is the third sukuk listing of Warba on Nasdaq Dubai, with a total of USD 1.25 bn listed.
The listing brings Nasdaq Dubai’s total outstanding value of debt to USD 134 bn, and its ESG listings to USD 30 bn. ESG Sukuk currently accounts for USD 18 bn, according to the statement.
ENVIRONMENT-
Abu Dhabi’s digital environmental inspection system gets intellectual property stamp: Abu Dhabi’s Environment Agency received intellectual property protection from the Economy Ministry for its digital environmental inspection system Eltezam, according to the Abu Dhabi Media Office. Launched in January 2023, Eltezam allows inspectors to assess the environmental compliance of industrial and commercial facilities, as well as development projects.
E-COMMERCE-
Amazon to facilitate access to its platform for Sharjah Publishing Freezone members: Amazon UAE has signed an MoU with Sharjah Publishing City Freezone to facilitate access to its online retail platform and digital tools for publishers and SMEs in the zone, according to a statement picked up by Zawya. Amazon will also provide on-site training and workshops for potential sellers to guide them on the know-how of online selling on Amazon.
AI-
Samsung to ramp up AI learning among UAE youth: The AI, Digital Economy, and Remote Work Applications Office and Samsung Gulf Electronics inked an agreement to integrate Samsung’s Innovation Campus (SIC) into the UAE AI Camp 2024, which features training, workshops, and expert-led talks on AI and more, according to a press release. SIC will offer Emirati youth a curriculum covering AI fundamentals, machine learning, data analysis, and IoT, as well as hands-on training and mentorship.
