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CAPITAL MARKETS-
#1- Egyptian investment platform secures ADGM license: The Abu Dhabi Global Market (ADGM) has granted Egyptian digital investment platform Thndr the greenlight to enter the Emirati market and offer its equity trading services to UAE-based investors, according to a statement from the Egyptian startup.
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What’s next? Thndr users in the UAE will be able to invest in US securities — including stocks, exchange-traded funds, and fractional shares — on the app, with no minimum investment. More investment products will be rolled out over time, the statement added.
#2- CI Capital announces GCC expansion plans: Egyptian financial services firm CI Capital plans to set up an “on-the-ground presence” for its investment bank in Saudi Arabia and the UAE, group CEO Hesham Gohar said in a press release (pdf). Gohar described the two countries as “two very important markets with robust growth, deepening capital markets and significant investor appetite.”
AGRICULTURE-
UAE telco Emirates Integrated Telecommunications Company (du) and sustainable farm producer Gracia Group launched an AI-powered agritech platform, according to a statement. The platform will use Gracia’s digital model, Agriculture 360°, to automate agricultural operations — including buying, selling, trading, and training — and provide comprehensive information on food produce, market demands, and pricing.
LOGISTICS-
AD Ports to develop green methanol export facility in Egypt: AD Ports Group inked an MoU with Egypt’s Transmar and Orascom Construction to develop a green methanol storage and export facility in Egypt in a bid to supply low-carbon fuel for the maritime shipping industry, according to a statement. The facility looks to also supply bunkering solutions for mainliners who have purchased green methanol powered vessels, the statement notes. An investment ticket or timeline for the project were not specified.
TRADE-
Nine new suppliers have joined the Go to UAE initiative, a collaboration between French multinational company Thales, Tawazun Council, and the Industry Ministry aimed at integrating suppliers into Thales’ global supply chain and helping them expand their presence and exports, Wam reports. The suppliers joining are Halcon Systems, EPI, Al Shurooq, Precision Industries, Advanced Armored Engineering, Rockford Xellerix, Milectria, and Optimal Connectivity.
HOUSING-
#1- Abu Dhabi kicks off first phase of AED 9.3 bn housing project: Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan has inaugurated the AED 3.1 bn first phase of the North Bani Yas residential project, reports Wam. The development — spanning 3.1 sqkm — will house over 1.3k residential villas for UAE nationals, in addition to 17 parks and recreational areas, a school, and five commercial complexes.
Background: The inaugural phase is part of a wider AED 9.3 bn investment plan — dubbed Named Al Mizn Neighbourhood — to develop some 3.5k new villas across 9.1 sqkm.
#2- Housing support for 1.3k Sharjah citizens: The Sharjah Executive Council has announced a new extension to the housing support initiative, providing 1.3k beneficiaries with government housing, mini residential units, as well as maintenance, additions, and demolition and reconstruction services, Sharjah24 reports. The new batch will support 700 citizens with direct grants and offer loans to 600 beneficiaries.
