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FINANCE-
Hedge fund and private equity administrator SS&C Technologies Holdingshas opened a new office in Abu Dhabi, according to a statement. The US-based hedge fund will be located in the Al Maqam Tower at the Abu Dhabi Global Market, led by head of Middle East Private Markets Operations Katarzyna Lupa-Nowicka (LinkedIn), and head of Middle East Hedge Operations David Forrester. The administrator owns USD 2 tn in assets under administration.
GQG Partners plans to establish its international headquarters in Abu Dhabi, rather than London, due to the growing appeal of the UAE and the Middle East in the financial services sector, Asharq Business reports, citing a Wall Street Journal interview with head of international affairs, Mark Parker.The US-based investment management firm recently obtained regulatory approval to establish its investment office in the Abu Dhabi Global Market, its first outside the United States. Abu Dhabi’s flexible immigration policies would facilitate hiring global talent, mitigating long-term talent acquisition risks, Parker said.
INVESTMENT-
Adia buys into Indian railway equipment manufacturer: The Abu Dhabi Investment Authority (Adia) has bought some 10 mn equity shares of India’s railway equipment manufacturer Texmaco Rail, through the company’s qualified institutional placement (QIP), CNBC TV18 reports. The share purchase represents 6.80% of the total QIP, which saw Texamaco raise a total of INR 2.5 bn.
TELECOMS-
TWA, Nokia to land optical network connecting UAE with Pakistan, Oman:Pakistan-based submarine optic network provider Transworld Associates (TWA) will partner with Nokia to develop an optical network linking UAE, Pakistan and Oman’s data centers, to improve connectivity across the region, according to a press release. The network is part of TWA’s submarine expansion plan and will feature a capacity of 9.2 tb per second for the Pakistan-UAE-Oman route, using Nokia’s 1830 Photonic Service Switch platforms and CDC-F technology.
SOUND SMART- Optical networking is a technology that uses light to transmit data using fiber cables. Optician networking systems are used by telecom network providers to provide higher capacity data connection with lower costs.
SMEs-
The Abu Dhabi Chamber of Commerce and Industry has formed a working group for startups and SMEs, in a bid to edge the emirate as a top business choice in the region by 2025, reports Wam. The group will collaborate with government and private sector to develop plans, propose policies, and attract new enterprises to growing sectors, focusing on modern technology. It will also establish programs to ramp up growth for Abu Dhabi-based startups.
Fast facts: Startups and SMEs comprise over 46% of Abu Dhabi’s workforce, contributing 42.8% to non-oil GDP.
REAL ESTATE-
Chinese smart home solutions provider Aqarainked a partnership agreement with e& UAE, the telecoms arm of e&, to collaborate on providing Aqara’s smart home tech solutions and devices to e&’s clients in the Emirates, according to a press release.
INFRASTRUCTURE-
Saadiyat Marina & Ferry Terminal and Rabdan Marina are now live: Abu Dhabi’s Integrated Transport Centre, in partnership with AD Ports Group’s Abu Dhabi Maritime, inaugurated the Saadiyat Marina & Ferry Terminal and Rabdan Marina, a press release reads. The new facilities offer amenities and services for mariners and boat owners.
FOOD & BEVERAGE-
Dubai-based Italian food distributor Euromercatosecured five new trade agreements to import authentic Italian food products from European brands, including Arteolio, Maison Andresy, Pastificio Armando, Pasta Berruto & Arrighi, and Pasta dalla Costa, according to the Dubai Media Office. The agreements were inked on the sidelines of a Dubai International Chamber-organized trade mission, which also saw Euromercato expand its distribution agreement with Zini to supply products to hotels, restaurants, and cafés.
BANKING-
Emirates NBD, Marriott Bonvoy roll out two co-brand credit cards: Emirates NBD and Marriott International’s global travel program, Marriott Bonvoy, have launched two new co-branded Mastercard credit cards, according to a press release. Emirates NBD will upgrade the existing cobrand premium card between the bank and the travel program to the new Marriott Bonvoy World Elite Mastercard, offering travel benefits to new and old cardholders.
AVIATION-
Flydubai is resuming flights to Al Jouf and launching services to Red Sea International starting 18 April, reports Wam. The airline will operate flights to the destinations twice weekly from Dubai International’s Terminal 2.
TRANSPORT-
RTA and China’s CSCEC talk potential investments: Roads and Transport Authority Director General and Chairman Mattar Al Tayer met with Wang Shaofeng, chairman and CEO of the China General Engineering Construction Company (CSCEC) in the Middle East, to discuss potential investments and upcoming projects, according to a statement. The two discussed the Dubai Metro’s Blue Line Project, which spans 30 kilometers, features 14 stations, and aims to serve key areas and an estimated 1 mn, according to Dubai Urban Plan 2040.
