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LOGISTICS-
#1- Adnoc L&S + Wanhua JV places USD 250 mn order for ammonia carriers: AW Shipping — a JV between Adnoc L&S and Wanhua Chemical Group — will purchase USD 250 mn very large ammonia carriers from China’s Jiangnan Shipyard, according to a press release (pdf). The carriers are considered among the largest in the world, having an individual carrying capacity of 93k meters of ammonia and are slated for delivery between 2027 and 2028.
TELECOMS-
Telecoms giant du launched two new sub-brands — du Tech and du Infra — as part of its upgraded B2B portfolio, aiming to expand the company’s offerings beyond traditional telecom services, according to a press release. The first of the new brands will provide advanced ICT solutions for government, large enterprises, and SME sectors, while the second, du Infra, targets infrastructure and services to streamline network operations.
DEBT-
Ajman Bank partnered with the Energy and Infrastructure Ministry’s Sheikh Zayed Housing Program to provide home financing solutions to the program’s members, Wam reports. The Emirati bank will offer housing loans covering residential units within the country. It will also provide personal finance, vehicle finance, and other fund-related investment services. Ajman Bank is the fifth financial institution to join the initiative, following Abu Dhabi Islamic Bank, Abu Dhabi First Bank, Dubai Islamic Bank, and Emirates NBD.
TECH-
Dutch information services company Wolters Kluwer launched a new data center in the UAE called Microsoft Azure UAE TeamMate Cloud Hosting data center, according to a press release. The new data center will allow organizations to store data locally, as the company aims to ramp up its cloud infrastructure and accommodate its growing clientele in the Middle East.
ENERGY-
Adnoc Gas developed a digital library of over 3.5k critical components that can be produced on demand using 3D printing technology, according to a press release (pdf). This initiative is expected to yield USD 50 mn in savings by 2028 under a partnership with Immensa, a UAE-based additive printing player, which will allow quick manufacturing of essential parts at Adnoc Gas’ Das Island and Habshan sites.
FINTECH-
Abu Dhabi Islamic Bank (ADIB) launched ADIB Ventures, a new initiative set to roll out pilot programs and proof-of-concept projects to test and implement advanced technologies for Islamic banking, according to a press release. ADIB aims to collaborate with emerging fintechs through the initiative, in a bid to ramp up innovation across its digital offerings.
MARITIME-
Marine fuel supplier Peninsula expanded its presence in the UAE by kicking off bunkering operations in Abu Dhabi and Jebel Ali, COO Kenny MacLean told Reuters. Peninsula already established large-scale operations in Fujairah and it is trying to build sizable volumes in those ports, after securing official bunker licenses for both of them. The company is currently preparing to boost the supply of alternative fuels, expecting a rise in marine biofuel demand in 2025.
BUSINESS-
Trends reveals global expansion: Abu Dhabi-based think tank Trends Research and Advisory is set to expand globally by opening new offices in Washington, São Paulo, Buenos Aires, Berlin, and Moscow, with all offices set to open this month, except for Washington slated for early next year, Wam reports. Each new office will focus on studying the political, economic, and social dynamics of its region, particularly their ties to the Middle East.
