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SUSTAINABILITY-
#1- Tetra Pak and Union Paper Mills launch UAE’s first carton recycling line: Tetra Pak has partnered with Union Paper Mills to introduce the UAE’s first recycling line for carton packages, according to a press release. The AED 2.5 mn facility is designed to process up to 10k tonnes of carton waste annually.
#2- Adafsa, TII to tackle agri challenges: The Abu Dhabi Agriculture and Food Safety Authority (Adafsa) signed an agreement with the Technology Innovation Institute (TII) to address key agricultural challenges, Wam reports. The agreement targets boosting productivity, improving crop quality, and introducing disease-resistant, high-nutrition crop varieties.
#3- Agthia Group to exclusively supply Capital Catering with water and food products: ADQ-owned Agthia Group will exclusively provide water and food products, including plant-based water bottles, to Capital Catering, a supplier for Etihad Airways and Adnec, under a new memorandum of understanding, Wam reports.
FMCG-
Abu Dhabi is getting a fish farming facility: ADQ and Finnish aquaculture technology company Finnforel will establish a land-based fish farming facility in Kezad’s dedicated aquaculture zone in Abu Dhabi, according to a press release.. The facility will have an annual production capacity of 3k tons of rainbow trout. It will use recirculating aquaculture systems (RAS), the first commercial-scale implementation of RAS in the UAE, enabling efficient water reuse, zero biowaste, and year-round fish cultivation, regardless of environmental conditions.
Timeline: Feasibility and planning are expected to be completed by early 2025, with construction starting in 2Q 2025 and full operations commencing in 2027.
The partnership is part of ADQ’s food resilience initiatives, aiming to reduce reliance on seafood imports, which currently account for 70% of UAE consumption, including 10k tons of salmon annually.
BANKING-
#1- Dubai Chambers and Standard Chartered signed an MoU to provide integrated banking services for international companies establishing operations in Dubai, as well as local businesses, according to the Dubai Media Office. Standard Chartered will offer trade finance services to UAE businesses seeking international expansion and assist multinational companies in setting up bank accounts in Dubai. Dubai Chambers will support Standard Chartered’s clients who are looking to establish a presence in Dubai.
#2- National Bank of Fujairah launches Collect app for instant payment services: National Bank of Fujairah has launched instant payment services via its Collect application, according to a press release. Developed in collaboration with Pine Labs, the app integrates with the Central Bank of the UAE’s Ani payment platform, allowing retailers to generate QR codes to accept customer payments. Malabar Gold & Diamonds, a leading jewelry retailer, will be the first company to use the app for collecting payments.
#3- Financial services provider Reem Finance tapped Temenos to power its new digital community bank in the UAE, according to a statement. The lender will integrate Temenos’ cloud-based core banking solution into its platform.
REAL ESTATE-
#1- Arabian Hills Real Estate Development launched the second phase of the Arabian Hills Estate project, valued at AED 22 bn, Wam reports. The Arabian Hills Estate is located along the Dubai-Al Ain Road and covers an area of 244 mn square feet.
#2- UAE-based real estate firm The Luxe Developers launched a AED 2.3 bn luxury development on Al Marjan Island in Ras Al Khaimah, dubbed La Mazzoni, according to a press release. The project is designed by Dewan Architects + Engineers and spans 1.5 mn sqft.
MOBILITY-
Salik partnered with the parking operator Parkonic to integrate its e-wallet payment solution across Parkonic’s 107 locations and any of its potential future locations in the UAE, according to a press release (pdf). The contract between both parties will run for five years, and Salik eWallet will be available across Parkonic’s c.135k parking spaces by 1Q 2025. The five-year agreement will see Parkonic promote Salik’s eWallet as the preferred payment option, with Salik receiving a percentage of the parking revenue generated through the system. This marks Salik’s first expansion beyond Dubai.
Parkonic has ambitious expansion plans, aiming to extend its operations beyond Saudi Arabia, Egypt, Qatar, and the UAE into new regional and global markets. The company targets managing 350k parking spaces by the end of 2025, according to CEO Imad Alameddine, Al Khaleej reports. Parkonic is also considering an IPO, with plans for a potential listing currently under review, Alameddine added.
FINTECH-
#1- Payment solutions provider Magnati partnered with Aafaq Islamic Finance to launch an embedded financial solutions platform, aimed at supporting small and medium-sized enterprises (SMEs) in the UAE, according to a press release. The platform uses real-time point of sale (POS) transaction data to streamline the loan application process, offering a range of services including business loans, invoice and equipment financing, POS and receivables financing, and ins.
#2- Indian non-profit tech and trade association Nasscom and DIFC signed an MoU to connect Indian tech firms with Dubai’s fintech ecosystem, according to a press release. The agreement includes plans for webinars, roundtables, and networking events to offer Nasscom members access to DIFC’s Innovation Hub and Dubai AI Campus.
ENERGY-
#1- The Energy and Infrastructure Ministry and the Industry and Advanced Technology Ministry launched an Industry Registry where manufacturers will be required to annually update their industrial data, in a bid to boost sustainability in the sector, state news agency Wam reports.
#2- Adnoc-Presight JV AIQ partnered with World Wide Technology to advance AI in the global energy sector, according to a press release. The collaboration will streamline the transition from concept to large-scale implementation and expand AI innovation through their AI Lab as a Service program, offering access to computing infrastructure and AI talent.
STARTUPS-
Business Incubator Bedayat partnered with the Hamdan Innovation Incubator to launch the Emirati Tech Founder Program tailored for Emirati entrepreneurs, state news agency Wam reports. Over eight weeks, participants will engage in workshops, receive mentorship, and access collaborative spaces to help develop their business models.
BUSINESS-
UAE-based law firm Habib Al Mulla and Partners expanded into Iraq with a new office in Baghdad, in partnership with Al Nesoor Law Firm, Economy Middle East reports. The office will focus on facilitating foreign investment and addressing legal needs in Iraq’s growing market. The partnership will offer services in corporate governance, investments, dispute resolution, compliance, and more.
