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LOGISTICS-
Odys aviation + Aramex partner on cargo operations in Oman and UAE:Dubai-based multinational logistics, courier and package delivery company Aramex will partner with US-based eVOTL manufacturer Odys Aviation to explore developing unmanned aerial vehicle (UAV) cargo delivery in the UAE, Oman, and the wider region, according to a press release.
Details: The collaboration will explore autonomous logistics programs, with a view to eventually introducing both short-haul and long-range cargo flights operating with Aramex’s fleet management capacity and Odys Aviation cargo aircraft, according to Aramex Chief Operating Officer Alaa Saoudi. Aramex will support pilot training and test flight programs. The pair will create a concept of operations to ensure Odys Aviation’s aircrafts will be tailored to serve specific local environments.
CONSTRUCTION-
#1- Al Futtaim Engineering & Technologies + UL Solutions partner:Al Futtaim ’s engineering and technologies section inked an agreement with global safety science firm UL Solutions to exchange expertise and capabilities, according to a press release. Al Futtaim signed on as an official UL Solutions SPIRE-qualified assessment firm as part of the agreement, allowing it to receive assessments, ratings, and suggestions for performance improvements from UL Solutions smart building experts.
#2- Dubai-based ALEC posts 150% growth in KSA:ALEC Engineering and Contracting (ALEC), one of Investment Corporation of Dubai’s (ICD) construction arms, recorded 150% y-o-y growth in Saudi Arabia in 2023, Construction Business News reports. The company said that it achieved record growth on the back of a few iconic projects, rather than volume. ALEC currently has four projects in Saudi Arabia, worth over USD 5.3 bn.
FINTECH-
Merchants and customers using Egyptian fintech Paymob will now have access to payments platform Tamara’s buy now pay later service as part of a partnership between the two companies, according to a press release. The partnership integrates Tamara’s buy now, pay later (BNPL) service with Paymob’s payment gateways to allow customers to split their payments into four installments without incurring fees or interest. The new integration will be available to users in the UAE and KSA in an initial phase, before it’s rolled out to other countries at later stages.
REAL ESTATE-
#1- UAE-based developer Binghatti Properties purchased a land plot in Dubai’s Business Bay for AED 365 mn, Zawya reports. The Business Bay is already host to two of Binghatti’s flagship projects, Bugatti Residences and Burj Binghatti Jacob & Co Residences. Last month, the developer unveiled Mercedes-Benz Places by Binghatti in Downtown Dubai.
#2- RAK launches a new Hayat Island hotel: Ras Al Khaimah’s ADX-listed property developer RAK Property unveiled its new hotel, Quattro Del Mar, located on Hayat Island in Mina Al Arab, Ras Al Khaimah, according to a press release.
EDUCATION-
UAE + Indonesian universities eye cooperation: The Mohamed Bin Zayed University for Humanities and the State Islamic University of North Sumatra in Indonesia inked an MoU, aiming to facilitate exchange programs for academic staff and calling for joint co-curricular activities in education and teaching, according to a press release.
HEALTHCARE-
First successful liver transplant happens in Dubai: King’s College Hospitalcompleted Dubai’s first successful liver transplantation on a 38-year-old woman in Dubai, rounding off a four-hour long procedure established under the Hayat Organ Donation program, according to a press release. The hospital is the sole licensed facility for liver transplantation by the Dubai Healthcare Authority (DHA). The UAE has the fastest growth rate of post-mortem organ donation globally, the press release said.
FINTECH-
Sovereign wealth fund ADQ-backed Philippines-based fintech firm Salmon will acquire a 59.7% stake in the Rural Bank of Sta. Rosa (Laguna) after receiving regulatory approval from the Monetary Board of the Bangko Sentral ng Pilipinas (BSP), according to a press release. The acquisition will help Salmon provide nationwide AI-based consumer debit and credit products.
