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NBFS-
UAE residents will now be able to transfer money to bank accounts in Spain, Italy, France, Ireland, and Germany using Careem Pay, with more EU destinations set to be added, according to a statement from Careem. The platform allows customers to send up to AED 150k per transaction and up to AED 450k a month to any valid IBAN in the said countries at rates 50% cheaper than banks.
ALSO- Careem Pay introduced a new feature allowing transfers from the UAE to businesses abroad, including real estate payments, events booking, and school and university tuition fees. The service currently covers India.
PAYMENTS-
#1- Mastercard partnered with Tap Payments to integrate Click to Pay with Payment Passkey services in the UAE, replacing one-time passwords with biometric authentication, according to a press release.
#2- Visa to roll out flexible credential feature in the UAE: Visa is partnering with Emirates NBD’s digital arm Liv Bank to introduce its “flexible credential” feature in the UAE, allowing people to use a single card to pay from different funding sources, including multiple currency accounts, it said in a statement. The feature automatically routes transactions to the account with the appropriate transaction currency. It will be available to all Liv customers, and will support the USD, GBP, EUR, CAD, and AUD.
BANKING-
Mbank integrates Aani into its mobile app: Al Maryah Community Bank (Mbank) integrated central bank-backed instant payment platform Aani into its mobile application, state news agency Wam reports. The Aani platform allows customers and retailers to make instant payments 24/7, including proxy and QR-based payments.
ICYMI- Over 1 mn customers and 80k merchants have joined Aani since its inception in October 2023, CEO of the central bank’s digital payments arm Al Etihad Payments Jan Pilbauer said last month.
AUTOMOTIVE-
Cadillac, Al Ghandi Auto break ground on new experience center: Automotive retailer Al Ghandi Auto and Cadillac Arabia kicked off the construction of a AED 47 mn experience center in Abu Dhabi, according to a press release. The facility is scheduled for completion in 1Q 2026, and will feature an open sales area, a VIP lounge, and a service reception. It will also include 14 work bays that can serve over 50 vehicles per day and are designed to accommodate both electric and traditional vehicles.
SUSTAINABILITY-
Tadweer partners with Egyptian gov’t to promote investments in the waste sector: Tadweer Group signed an MoU with Egypt’s Waste Management Regulatory Authority, an Environment Ministry body, to promote investment prospects in the waste sector and facilitate the exchange of research and studies between the two organizations, according to Wam.
TRADE-
#1- Germany’s Mittelstand opens representative office in Dubai: Germany’s BVMW Mittelstand association of SMEs opened a representative office in Dubai, following an agreement signed with Dubai’s International Freezone Authority earlier this year, according to Wam. The office will serve as a resource for German SMEs, providing support, networking, and access to the UAE’s business environment.
#2- Dubai partners with Thailand’s Commerce Chamber to boost cross-border investments: Dubai Chambers signed an MoU with the Thai Commerce Chamber to boost investment prospects in sectors such as energy, digital economy, agriculture, tourism, and hospitality, according to the Dubai Media Office. The MoU covers the exchange of delegations and trade missions, as well as organizing exhibitions and business events in Dubai and Thailand. The agreement also aims to facilitate arbitration procedures to resolve commercial disputes between companies from both countries.
STARTUPS-
#1- US healthtech startup EpiBone closed an undisclosed funding round that drew investments from Kendall Capital, LifeSpan Vision Ventures, and EMV Capital, among others, according to a press release. The company, a member of Abu Dhabi’s tech ecosystem Hub71, will use the funding to support its ongoing pipeline development and to scale up its operations globally.
What they said: “This funding…empowers us to bring our innovative regenerative therapies to more patients in need as we explore Thailand and the United Arab Emirates, both emerging global centers of medical tourism,” CEO and Co-Founder of EpiBone Nina Tandon said.
About EpiBone: EpiBone is a regenerative medicine company that uses stem cells to grow bone and cartilage for skeletal reconstruction.
#2- US-based Access control systems firm Wavelynx Technologies launched its operations in the MENA region via a new office in Dubai, according to a press release. The company will focus on commercial real estate, hospitality, education, and healthcare sectors.
INS.-
Dubai’s tollgate operator Salik partnered with ins. firm Liva, to provide ins. solutions to drivers, according to a press release (pdf). The partnership will allow drivers to renew their ins. policy via a Liva-managed platform that will be linked in Salik’s notifications, and will send reminders to customers about ins. payments and vehicle registration renewals.
LOGISTICS-
#1- The Postal Sector Regulatory Committee formed an Advisory Committee for the Postal and Courier, Express, and Parcels Sector — featuring industry executives — in a bid to boost collaboration between the public and private sectors in the field and develop growth strategies, according to a press release.
#2- EMX to set up shop in SAIF Zone: EMX, the logistics arm of 7X, secured a 6.5k sqft warehouse at Sharjah Airport International Free Zone (SAIF Zone), Wam reports. The facility will support its express delivery and parcel services across the UAE.
