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LOGISTICS-
Another UAE shipping company hit by US sanctions for Russian crude: The US Treasury imposed sanctions on Emirati shipping company Hennesea Shipping on Thursday for transporting Russian crude priced above the USD 60 / bbl price cap imposed by the G7, reports Reuters. The sanctions block Hennesea from engaging in USD-denominated transactions and flag the firm on a Specially Designated Nationals list.
ICYMI: The Office of Foreign Assets Control (OFAC) sanctioned three UAE shipowners accused of violating the USD 60 / bbl price cap on Russian crude oil exports in November. Its sanction on Hennesea is its first enforcement action this year.
HEALTHCARE-
G42 Healthcare, Egypt talk partnership: Representatives from EmiratiAI-powered health company G42 Healthcare met on Saturday with Egyptian Health Minister Khaled Abdel Ghaffar to explore the potential of establishing a modern laboratory for genetic testing, water analyses, and food analyses in the Cairo satellite area of Badr City, reports Wam.
TRANSPORT-
The Sharjah Road and Transport Authority (SRTA) added 10 electric buses to its fleet on Saturday, reports Sharjah 24. The move is part of a new SRTA initiative to integrate eco-friendly technologies into Sharjah’s mass transit network.
FINANCE-
Visa inked an MoU with Dubai Police to join the Operation Center for Economic Crimes (OCEC), an initiative designed to fight financial crimes and fraud, Wam reports. Under the agreement, Visa will play a role in defining the priorities, structure, and operations of OCEC, as well as deliver training sessions on payment security and financial crimes.
Fast facts: Although 61% of UAE consumers consider themselves “scam-savvy” according to a survey conducted by Visa, 90% are likely to overlook warnings for fraud. Meanwhile, 77% are “likely to respond to positive messages from fraudsters.”
FINTECH-
CoorB launches operations in the Emirates: Fintech and IT company CoorB will commence operations in the UAE, Saudi Arabia and Egypt, it said in a company statement. “We seek to overcome the limitations of legacy systems and leverage modern technologies such as artificial intelligence (AI) and machine learning (ML) to provide clients with solutions and services that compete with the world’s leading technology providers,” CoorB CEO Ahmed Gaber said.
