Presight tapped by Jordan to digitize its healthcare sector

HEALTHCARE-

Presight tapped by Jordan to digitize its healthcare sector: Big data analytics firm Presight was awarded a multi USD-mn contract by Jordan’s Digital Economy and Entrepreneurship Ministry to support the digitalization of the country’s healthcare sector according to a press release (pdf). The exact value of the contract was not disclosed.

The details: The contract will see Presight develop a digital healthcare system plan for public sector hospitals, a health information exchange strategy, and a virtual hospital command center offering tele-ICU, teleradiology, and tele-dialysis services.

REMEMBER- Presight is aiming to increase its revenue share from international markets to 30% from the current 15%, its CEO said in July. Besides the UAE, Presight operates in about 14 countries across Central and Southeast Asia, and Africa.

FINANCE-

Dubai International Financial Centre (DIFC) plans to launch a DIFC Funds Center in 1Q 2025, offering hedge fund spinouts, fund platforms, and boutique asset management firms “flexible range of working solutions, and … peer-to-peer networking,” it said in a statement. Slots in the new DIFC center will be handed out on a first-come, first-served basis, with wealth and asset management applicants encouraged to join the waitlist now.

Some 400 wealth and asset management firms are currently based in the DIFC, including 44 hedge funds in the bn-USD club.

AVIATION-

Dnata secures EasyJet contract at Zurich Airport: UAE-based air services provider dnata landed a multi-year ground handling contract with EasyJet at Zurich Airport, expanding its services to include passenger, ramp, and baggage handling, according to a statement. Financial details of the deal were not disclosed.

Background: Dnata operates at airports in Zurich and Geneva, providing cargo and ground handling services to over 30 airlines, according to the statement.

INVESTMENT-

#1- Abu Dhabi Investment Authority (Adia) was among major institutional investors that backed Bajaj Housing Finance’s USD 782 mn IPO, one of the largest in India this year, Reuters reported. Institutional investors, including Adia, BlackRock, and the government of Singapore have funneled USD 209 mn into the IPO, which was oversubscribed twice on the first bidding day.

About the IPO: Shares were priced between INR 66-70, valuing the home loan provider at USD 7 bn.

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#2- The Emirates Development Bank launched the Agrix Accelerator program, a 20-week initiative aimed at supporting farmers and agribusinesses, Wam reported. The program includes expert-led workshops, hands-on training, and personalized mentorship, focusing on technology adoption in the sector and capacity building.

ENVIRONMENT-

Blue Forest awarded mega mangrove restoration project: UAE-based mangrove conservation company Blue Forest has been awarded the operating license for one of the world’s largest mangrove restoration projects — MozBlue — located in Mozambique, according to a statement. The project is set to start in November 2024 and will cover an area twice the size of Singapore, standing at 155k hectares. MozBlue aims to plant 200 mn mangroves to restore coastlines, remove 20 mn tons of CO2, create 5k jobs, and involve local communities in its management to preserve a long-term and sustainable land tenure.

REGULATION-

Virtual asset service providers (VASPs) will be eligible to serve all emirates upon obtaining the Dubai Virtual Assets Regulatory Authority’s license as it would register them by default with the Securities and Commodities Authority (SCA), under a new agreemen between VARA and the SCA, a statement from the SCA showed. Otherwise, VASPs will have to obtain the SCA’s license to operate in any other emirate.

Both authorities signed a framework agreement on Monday to set rules and guidelines for licensing VASPs as well as joint oversight responsibilities, regulatory enforcement mechanisms, and information-sharing protocols.

ADVERTISING-

Digital advertising and marketing services company Monks is relocating its Middle East headquarters from Dubai to Riyadh, Bloomberg writes. The move comes as Saudi Arabia requires firms to establish their Middle East headquarters in the country to secure government contracts.

FINTECH-

Dubai-based fintech accounting company Sol.online launched its operations, becoming the UAE’s first outsourced online accounting firm, according to a statement from the company. The company’s services include bookkeeping, auditing, tax management, payroll, financial reporting, business incorporation, and legal support, which it offers through a subscription model.

BANKING-

Ruya customers will have access to Network’s digital payment features: Islamic, digital-only bank Ruya partnered with Network International to use its payment solutions, offering new features to customers such as instant transaction processing, customized user interactions, tokenization, card control, and fraud prevention, among other digital services, Wam reported.

REAL ESTATE-

#1- Real estate developer Saif Al Ghurair Group launched a new arm, P.O.B1 Properties, that will focus on residential and commercial development in new, fast-growing districts in Dubai, according to a press release.

#2- HMB Homes launched a AED 350 mn residential project in Arjan dubbed One Beverly, Al Bayan reports. The French art deco-inspired development features 381 units — including studio and one- and two-bedroom apartments — with prices starting at AED 650k.

DESIGN-

Nasdaq Dubai-listed interior contractor Depa was awarded AED 350 mn fit-out contracts for two undisclosed projects in Saudi Arabia, according to a disclosure to Nasdaq.

REMEMBER: Depa secured around 950 mn worth of contracts in January to handle hospitality and tourism fit-out projects for Red Sea Global in Saudi Arabia, including the Desert Rock Hotel, Amaala Yacht Club, and two luxury hotels in the Amaala marine development. Depa also secured a AED 200 mn fit-out contract for a high-end HQ office building in Dubai from an undisclosed client.

Refresher: Saudi sovereign wealth fund Public Investment Fund (PIF) acquired a 55% stake in Dubai-based Depa for AED 150 mn in February 2022.

MANUFACTURING-

Falcon Energy Material eyes anode factory in Morocco: UAE’s Falcon Energy Materials signed a technical and strategic partnership with China’s Hensen Graphite & Carbon Corporation to develop an anode plant in Morocco, according to a statement yesterday. The preliminary economic assessment for the plant is expected in 4Q 2024, targeting an annual production of 25k tonnes of coated spherical purified graphite.