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CAPITAL MARKETS-
#1- Global retail investors will be better able to access and subscribe to IPOs on the ADX thanks to a partnership between the exchange and global digital investment platform Eureeca, ADX said in a statement (pdf). International investors will be able to subscribe to IPOs on the Abu Dhabi bourse and trade post-listing via the Eureeca platform, which has an international investor base flowing in from 72 countries.
#2- Tungsten bags license from ADGM regulator: Digital assets custody services provider Tungsten is set to commence operations in the Abu Dhabi Global Market after being awarded a license by the Financial Services Regulatory Authority, according to a press release.
FINANCE-
Sharjah wants to lure in Japanese investors: A delegation from the Sharjah government’s investment arm, Sharjah Asset Management, visited the Japan Business Federation to promote investments in the emirate and discuss potential partnerships with Japanese businesses, according to a statement. The visit saw the delegation review the business practices adopted in the Japanese markets and learn about the investment climate in the country.
INFRASTRUCTURE-
Coxabengoa kicks off operations at Al Taweelah desalination plant: Spanish group Coxabengoa’s renewables and water services firm, Abengoa Agua, has commenced commercial operations at Al Taweelah desalination plant in Abu Dhabi after running the final tests for the plant’s two phases, the group said in a statement. Following the completion of the performance tests, Coxabengoa handed over the plant to Taweelah RO Desalination Company, a JV between Saudi Arabia’s Acwa Power — in which it holds a 40% stake — and UAE’s Abu Dhabi Power Corporation and Mubadala Development Company, which hold the remaining 60% stake.
ICYMI- Acwa Power received the commercial operation certificate for Al Taweelah from Emirates Water and Electricity to launch the remaining 76k cbm per day phase of the project, which already began operating at a capacity of some 454.6k cbm per day of desalination capacity in 2022. With this latest addition, the project — which cost USD 874 mn — has now achieved full commercial operation with a total capacity of 909.2k cbm/day.
HEALTHCARE-
#1- UAE-based pharma distribution company Pharmatrade inaugurated its Abu Dhabi Logistics Center, located in AD Ports subsidiary Khalifa Economic Zones Abu Dhabi (Kezad) Group, according to a press release. The new storage and distribution hub is positioned to meet private and public sector demand for pharma and medical devices in Abu Dhabi and Al Ain, Managing Partner at Pharmatrade, Konstantinos Petridis, said.
#2- Thuraya + Niflink to develop telemedicine solutions: Satellite communications firm Yahsat’s subsidiary Thuraya inked a partnership agreement with Niflink to offer customized remote healthcare and eLearning services to its institutional customers, such as the health and education ministries, through Niflink’s video compression platform, Thuraya said in a press release. The partnership will see the firms utilize Niflink’s embedded video compression technology and Thuraya’s satellite network deliver large-scale remote education and healthcare projects in rural areas.
REAL ESTATE-
Dubai Land Department’s Real Estate Regulatory Agency is partnering with Chinese institute DX Broker Training Service to boost service efficiency in Dubai’s property sector, focusing on training programs and educational courses, reports Wam.
MEDIA-
Dubai Media Council and the Economy Ministry launched the Economic Content Creators program, aiming to improve the quality of media coverage of the economy, the Dubai Media Office said. The program seeks to build content creators’ and journalists’ skills in analyzing economic and financial developments.
