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GAMING-
AstraTech’s subsidiary PayBy became the first fintech firm allowed to offer financial services to licensed commercial gaming operators in the UAE under a special license it obtained from the General Commercial Gaming Regulatory Authority (GCGRA), according to a press release. PayBy will offer gaming operators services including digital wallets, secure payment systems, and advanced fraud detection solutions.
ICYMI- The UAE has been ramping up its push into the gaming sector: The GCGRA awarded the UAE’s first commercial gaming operator’s license to casino operator Wynn Resorts last month, after the UAE issued a regulatory framework for the gaming sector in July. The authority also awarded the UAE’s first lottery license in July to commercial gaming and lottery operator The Game and the first gaming-related vendor license in October to Australian gambling machine manufacturer Aristocrat.
INFRASTRUCTURE-
Modon Holding taps Hassan Allam Holding for Ras El Hekma construction projects: Our friends at Hassan Allam Holding have inked a memorandum of understanding with Abu Dhabi wealth fund ADQ portfolio company and Ras El Hekma project master developer Modon Holding, in an agreement to cooperate on projects in the “infrastructure, energy, and water and wastewater treatment, and special building” sectors, the companies said in a statement (pdf).
Remember: ADQ tapped Modon Holding to be the master developer on its landmark USD 35 bn Ras El Hekma project on the North Coast last month, with the firm also tasked with developing the first 50 mn sqm phase of the city.
ENERGY-
Volts to set up energy storage production in Azerbaijan: UAE-based energy storage system producer Volts inked an MoU with the Azerbaijan Investment Company (AIC) to establish a USD 20 mn assembly and manufacturing facility in Azerbaijan for industrial and home energy storage systems, according to a press release. The initiative aims to ramp up Volts’ energy storage production and exports to Central Asia and support Azerbaijan’s energy transition.
The details: Volts and AIC will contribute USD 10 mn in investments each, with AIC also offering local support.
LOGISTICS-
Mawani adds new shipping service to Jubail Commercial Port: The Saudi Ports Authority (Mawani) added Emirates Shipping Line’s EJBS service to Jubail Commercial Port, it said in a statement. The new service, which has a 1.8k standard container capacity, will link the Jubail port to the ports of Jebel Ali in the UAE, and Shuwaikh in Kuwait.
EDUCATION-
#1- Alef extends contract with Abu Dhabi Education Dep: Alef Education extended its contract with the Abu Dhabi Department of Education and Knowledge for an additional three years, allowing it to continue to implement its digital education solutions at government schools (grades 5-12) until 2033, according to a press release (pdf). The original contract was signed in 2019 for 10 years and was initially extended for two years.
#2- E7 Group ventures into digital platforms: Printing and packaging firm E7 Group partnered with the interactive reading platform Kutubee and the school-parent communication platform School Voice to roll out an interactive Arabic reading platform and develop communication tools, E7 said in a LinkedIn post.
PAYMENTS-
NBF’s business clients to have access to Network’s digital payment solutions: Dubai-based Network International partnered with the National Bank of Fujairah (NBF) to roll out its omnichannel payment solutions, including online and in-person payment options, to the lender’s corporate clients, Wam reports.
RENEWABLES-
The Emirates Nuclear Energy Company (Enec) rebranded two of its subsidiaries as part of a wider rebranding to align it with its goals of becoming a global investor, according to the Abu Dhabi Media Office. The makeover will see Nawah Energy Company become Enec Operations, and Barakah One Company turn into Enec Commercial.
HEALTHCARE-
Spanish ophthalmology group Miranza Magrabi Health will offer Magrabi Health consultation for medical care at its facilities under an MoU they signed, according to a press release. Magrabi will also be able to transfer patients to Miranza’s hospitals for specialized treatments. The agreement will also see both parties work on joint research projects in ophthalmology.
COMMODITIES-
GME + Fastmarkets to partner on advancing regional commodity market: Energy-focused commodity exchange Gulf Mercantile Exchange signed an MoU with London-based cross-commodity price reporting agency Fastmarkets to explore the development of risk management tools for the regional commodities market, according to a press release. The partnership will focus on introducing new commodity derivatives, indices, and hedging instruments tailored for the regional market.
SUSTAINABILITY-
The US-Emirati initiative Agriculture Innovation Mission for Climate (Aim for Climate) has raked in USD 29.2 bn in funding since its inception in 2021, the countries said at Cop29, according to Reuters.
Background: The five-year mission — set to end in 2025 — aims to reduce the climate impact of agriculture and promote more sustainable farming practices. The AIM for Climate initiative had obtained approximately USD 17 bn in funding as of last year’s Cop28 in December.
REAL ESTATE-
Anax Holding subsidiary Anax Developments unveiled its second project, Evora Residences, a new tower in Al Furjan with handover scheduled for 3Q 2026, Khaleej Times reports.
Looking ahead, Anax Developments plans to launch projects worth USD 1 bn over the next year, bringing “more than 2k homes to the market,” with upcoming developments in Meydan and Dubai Islands, Anax Holding Chairman Satish Sanpal and Anax Development Managing Director Ravi Bhirani said.
