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REAL ESTATE-
#1- Saudi’s Bahra electric to power Azizi’s Dubai developments: Dubai-based Azizi Developments has partnered with Saudi electrical manufacturer Bahra Electric to supply electrical products for its projects in Dubai South, MBR City, Dubai Studio City, Al Furjan, Dubai Sports City, and Dubai Healthcare City, according to a statement
#2- Emirates NBD’s REIT plans to rebalance its portfolio: Shariah-compliant real estate investment trust ENBD REIT, which is managed by Emirates NBD Asset Management, is planning to rebalance its portfolio by adding residential, retail, or education assets, the trust’s CEO Samir Kazi told Zawya. The trust’s current portfolio has 60% in office assets.
ICYMI- ENBD REIT finalized the sale of its two Remraam residential towers in Dubailand last week, which accounted for 4% of its portfolio, to bring its debt down.
CRYPTO-
#1- FEG launches new platform for easy crypto tokens generation: Decentralized finance project Feed Every Gorilla (FEG) launched a new platform in the UAE that allows crypto investors to generate cryptocurrency tokens without the need for specialized developers, according to a statement picked up by Zawya.
#2- Rakbank customers will soon have a digital asset management platform: The National Bank of Ras Al Khaimah (Rakbank) has partnered with investment and custody platform Bitpanda Technology Solutions to launch a digital asset management platform for the bank’s customers, according to a statement picked up by Zawya.
ENVIRONMENT-
Abu Dhabi’s Environment Agency and the UK’s Dendra launch habitat assessment program: Abu Dhabi’s Environment Agency (EAD) launched a terrestrial habitat assessment research program in partnership with the UK’s environmental tech firm Dendra Systems to study the condition of native plants in both protected and unprotected areas, according to an Abu Dhabi Media Office statement. This program allows EAD to track changes in the variety and spread of local plants, especially those affected by human activities.
Progress so far: The program’s initial phase saw 11k hectares covered in over six months, using AI technology and drones, and analyzing field data via a smart database. The program also includes a drone-based seed dispersal operation to support natural regeneration.
ENERGY-
Dewa issues tender for 2.5 MW electrolyser project: Dubai Electricity and Water Authority (Dewa) has issued a tender for the design, supply, installation, and commissioning of a 2.5 MW alkaline electrolyser project in efforts to increase its hydrogen production capacity, according to a notice (pdf) published on the authority’s website. The deadline for tender submissions is 18 September, but the project’s timeline and investment ticket were not provided.
MOBILITY-
India’s all-electric ride-hailing startup BluSmart plans to boost its fleet in the UAE to 150 EVs and 225 drivers by the end of the year, up from 30 EVs and 60 drivers currently, the company’s co-founder Anmol Singh Jaggi told the National. BluSmart has placed an order for 70 EVs, slated for delivery in October, Jaggi said. The company also targets growing its local market share to 10-15% over the next three years, Jaggi added.
Remember- BluSmart plans to launch its services in Abu Dhabi, before tapping the Saudi market all within the next 12 months, Jaggi said. BluSmart officially launched in Dubai in June.
SUSTAINABILITY-
BeZero Carbon to offer carbon credit ratings for Emirates NBD clients: Emirates NBD partnered will work with UK-based carbon rating agency BeZero Carbon to conduct due diligence on projects for clients looking to offset their emissions, according to a statement. The bank will collect the science-based risk assessments of global carbon projects — including voluntary carbon credits markets — to provide a better picture to clients seeking to invest in green projects.
FINTECH-
#1- PayBy’s POS devices are in town: Astra Tech ’s e-payment subsidiary PayBy launched its own POS devices, with built-in features to generate direct payment links and QR codes, in the UAE, according to a statement picked up by Zawya. The move allows merchants to manage online and offline transactions on a single platform, instead of operating multiple payment systems, the company explained.
INS.-
Rakez launches new ins. program for its companies: Employees of companies registered at the Ras Al Khaimah Economic Zone (Rakez) will now benefit from a new ins. program provided by RakIns., according to a statement. A recent agreement between the zone and RakIns. will offer employees ins. coverage for unpaid salaries, end-of-service gratuity, repatriation costs, and work-related injuries, replacing a previous requirement of visa deposits.
SPACE-
Abu Dhabi discovers a new asteroid: The International Astronomical Center in Abu Dhabi discovered a new asteroid located in the Solar System’s asteroid belt, Wam reports. The discovery of the temporarily-dubbed 2022 UY56 asteroid was made at the Haleakala Observatory under a NASA-supported program involving Hardin-Simmons University, the Pan-STARRS telescope, and the Catalina Sky Survey project.
TRADE-
It’s a wrap for Dubai Multi Commodities Center’s US roadshow: The Dubai Multi Commodities Centre wrapped up its Made for Trade Live roadshow in the US cities of San Francisco and Denver, which focused on boosting US-UAE trade ties, the Dubai Media Office stated. The roadshow featured three events in partnership with Airtifae, San Francisco Chamber of Commerce, Bay Area Council, and key Denver economic bodies.
