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TRANSPORT-
Etihad Rail has inked an agreement with Tristar Engineering and Construction to build a new Etihad Rail passenger service station near University City in Sharjah, connected to the main UAE-wide line, state news agency Wam reports. The project aims to boost daily ridership — especially for university students — on Etihad Rail to approximately 14k passengers per week.
Background: The passenger network aims to link 11 cities and regions across the country, from Al Sila to Fujairah, taking in Sharjah, Al Ruwais, Al Mirfa, Fujairah, Al Dhaid, Abu Dhabi and Dubai. The exact timeline for passenger operations has not been disclosed.
DEBT-
Beeah Group has secured an environmental, social, and governance (ESG) linked financing facility fromEmirates Islamic Bank, according to a press release. The facility includes a Shariah-compliant term financing and a liquidity murabaha structure.
Where the funds will go: The funding will support Beeah’s clean energy, green mobility, and waste management projects, and will also be used to invest in modern technologies for sustainability initiatives in the UAE and the GCC. Emirates Islamic will also partner with BEEAH on education and awareness initiatives for promoting sustainable practices.
SUSTAINABILITY-
The Dubai Multi Commodities Centre (DMCC) now has a sustainability hub in a bid to promote environmental, social and governance (ESG) practices across its 24k member companies, according to a press release. The hub, which will be run in partnership with social enterprise C3, will allow companies to network, and will provide them with mentorship and access to financing through ESG-focused venture capital firms and accelerator programs. Existing DMCC members can gain membership without charge following an evaluation process.
LOGISTICS-
DP World to host Dubai Chamber offices abroad: Dubai Chambers has inked a strategic MoU with UAE-based port operator DP World to host the former’s offices at its facilities abroad, according to a Dubai Media Office statement. The agreement comes as part of plans to establish 50 international representative centers for Dubai Chambers by 2030 to reel in foreign direct investment and talent to the emirate, the statement said.
EDUCATION-
Harrisburg University lands in Dubai: US science and technology-focused university Harrisburg University of Science and Technology inaugurated a new campus in Tecom Group ’s Dubai Knowledge Park, reports Wam. The Dubai campus is the university’s first in the Middle East and North Africa.
AVIATION-
Emirates airline and Aida Cruises have extended their partnership for two more seasons as Dubai looks to expand its cruise capacity, according to a press release. Emirates and Aida Cruises, two of Dubai’s major industry players, have teamed up to explore joint marketing, operational alignment, and planning, including coordination of flight schedules and transportation between Dubai International Airport and Dubai Harbour Cruise Terminal.
US-Bangla Airlines is launching weekly flights from Dhaka and Chattogram to Abu Dhabi starting 19 April, according to a statement.
FINANCE-
MBME Group payments subsidiary MBME Pay inked an agreement with Gargash Group’s Deem Finance to allow its customers to access the latter’s digital services, according to a statement (pdf).
