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TRANSPORT-
Dubai’s Roads and Transport Authority awarded a AED 696.4 mn contract to develop the area around the Trade Center roundabout, without disclosing the identity of the awarded bidder, according to a statement from the Dubai Media Office. The project aims to connect Sheikh Zayed Road with five main streets, namely, Sheikh Khalifa bin Zayed Street, Sheikh Rashid Street, 2 December Street, Zabeel Palace Street, and Al Mustaqbal Street.
The details: The project will see the construction of five bridges and the conversion of the existing roundabout into a surface intersection. The project aims to double the intersection’s capacity, cut the delay time to 90 seconds from 12 minutes, and reduce the travel time between Sheikh Zayed Road and Sheikh Khalifa bin Zayed Street to a minute from 6 minutes.
What’s next? The authority also plans to award a contract for the development of Al Mustaqbal Street next month.
SUSTAINABILITY-
Adnec Center Abu Dhabi plans to go green: Adnec Group signed an agreement with the Emirates Water and Electricity Company (Ewec) to secure 100% of Adnec Center Abu Dhabi’s electricity needs using Ewec’s renewable energy sources, according to the Abu Dhabi Media Office. The move will make Adnec Center Abu Dhabi the first and largest event venue in the Middle East to be powered via clean energy.
BUSINESS-
Dubai Chamber of Commerce formed the Korean Business Council to facilitate trade between private sector companies in Dubai and South Korea, according to the Dubai Media Office.
FOOD-
State-led initiative Food Tech Valley inked an agreement with Badia Farms to implement a hybrid farming project using vertical and horizontal farming methods for year-round fruit and vegetable production, according to a Dubai Media Office statement. This sustainable farming initiative, established under a 27-year agreement, is expected to use 90% less water compared to traditional farming and will be powered by renewable energy sources.
ADVERTISING-
Global digital marketing agency Aleph has expanded its partnership with Reddit to the UAE, as well as Saudi Arabia and Egypt, in a bid to support local advertisers and agencies in the region, it said in a statement (pdf). The extended partnership will see Aleph assist Reddit in expanding its digital advertising ecosystem to MENA, following successful rollouts in Central Europe and Asia-Pacific.
FINANCE-
UAE Exchange Center loses payment system operator status in India: The UAE Exchange Center, a Dubai-based remittance and foreign exchange services firm, has had its authorization revoked by India’s central bank due to failure to meet regulatory requirements, Reuters reports.
