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CAPITAL MARKETS-
#1- Lunate Capital has listed its Chimera S&P Japan UCITS ETF on the ADX under the ticker JPANI, Wam reports. This marks the first ETF tracking Japanese equities on the ADX and the 13th ETF on ADX, and comes at a time when Japanese stocks have rallied and become more attractive to investors. The ETF tracks 30 Japanese companies listed on the Tokyo Stock Exchange such as Honda Motor Co, Toyota Motors Corp, Sony, Softbank Group, and Mitsubishi UFJ Financial Group Inc.
Fast fact: ETF trading values on ADX surpassed AED 5.2 bn in 2023, up 161% y-o-y.
#2- The Dubai Chamber of Commerce has set up the Dubai Stockbrokers and Investment Services Group (DSIG) under its umbrella as a business council focusing on stockbrokers, fund managers, and private equity players, according to a press release.
TRADE-
Etihad Credit Ins. (ECI) launched the Xport Xponential initiative to boost UAE exports, particularly targeting SMEs and non-oil products, at the Make it in the Emirates forum, according to a press release. The platform will offer UAE-based companies extensive credit facilities and financial solutions through collaborations with the financial and banking sectors. It will also offer “substantial facilities” for companies accessing markets in countries that have trade and economic agreements with the UAE. The initiative will focus on businesses with audited financials and annual turnovers ranging from AED 10 to 250 mn.
DEBT WATCH-
PNC Investments, which issued Sobha Sukuk Limited Trust Certificates 2028, is buying back and retiring USD 15 mn trust certificates, based on their nominal value, according to a Nasdaq Dubai disclosure (pdf). Following this cancellation, the remaining nominal issue size is USD 270 mn.
LOGISTICS-
#1- Dubai Taxi to provide Talabat with delivery services: Dubai Taxi and Talabat have inked an agreement to use Dubai Taxi’s fleet for transport delivery solutions for Talabat’s customers across the UAE, according to a DFM disclosure (pdf).
#2- DP World + Maalexi partner to boost food security: DP World has signed an agreement with UAE-based dynamic risk management outfit Maalexi to enhance operational efficiency and streamline access to a wider range of food products at Jebel Ali Port, according to a press release. The partnership aims to expedite delivery time for essential food supplies for businesses across the UAE and the wider region.
ENTREPRENEURSHIP-
Female Emirati-led home businesses in Abu Dhabi can now get help transitioning to licensed commercial enterprises thanks to a new initiative launched by the Khalifa Fund for Enterprise Development, according to the Abu Dhabi Media Office. The initiative, dubbed SWAN, will see 10-15 participants receive workshops and business coaching sessions for a 6-8 week duration, and potentially secure a share of an AED 1 mn grant upon completion. Post-program assistance will also be available for business establishment and market access.
MINERALS-
The Energy and Infrastructure Ministry inked an MoU with Abu Dhabi’s Technological Innovation Institute to design three-dimensional maps of natural resources in the UAE, the Ministry said on X. The agreement seeks to identify mineral and renewable energy sources — including geothermal energy, and will also see the two sides cooperate to develop research and technical capacity in the fields of mineral resources and geology, Wam reports.
AVIATION-
#1- Strata + Lufthansa Technik partner on aircraft repair: Mubadala-owned composite aerostructures manufacturer Strata Manufacturing and global maintenance provider Lufthansa Technik’s subsidiary Lufthansa Technik Middle East (LTME) have collaborated to repair several aircraft parts made from composite materials, Wam reports.
#2- Sharjah Airport’s business aviation infrastructure gets an upgrade: British aviation company Gama Aviation completed the construction of a 36k sqm parking apron for its Sharjah Business Aviation Center at Sharjah International Airport, it said in a statement. The center will also feature a 14k sqm air-conditioned premium hangar, discreet VVIP terminal, aircraft connectivity for owners and flight crew, and enhanced in-house maintenance, repair, and operations capabilities once live in 2Q 2025.
FINANCE-
Abu Dhabi Global Market (ADGM) wrapped up a series of roadshows in Europe, participating in events including the 2024 IIF European Summit in Paris and the JP Morgan Global Markets Conference, according to a press release. ADGM representatives conducted over 100 meetings with senior figures in private banking, wealth management, and hedge funds across France, Switzerland, and other European finance centers.
ENERGY-
Gulf Oil Middle East opened its 15th Gulf Express Service Centre in Ras Al Khaimah, further expanding its presence in the Northern Emirates, according to a press release. Gulf Express provides a convenient drive-through service for quick oil changes and vehicle maintenance.
