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MANUFACTURING-
Turkish arms manufacturer Aselsan inauguratedan office in Abu Dhabi on Tuesday, according to a company statement. The new office will attend to existing and potential clients in the UAE and the bigger Gulf region as part of Aselsan’s export-oriented growth strategy.
Aselsan is no stranger to UAE: The company previously inked a preliminary agreement with Emirati defense contractor Edge Group in October that saw the latter earmark a USD-denominated bn investment in Turkey’s arms sector, Bloomberg reported.
CAPITAL MARKETS-
Moody’s has upheld the long-term issuer ratings of the Dubai International Financial Centre (DIFC) at BAA3, Al Khaleej reports. The ratings agency also assigned a BAA3 rating with a stable outlook to the center’s USD 700 mn (AED 2.6 bn) sukuk, scheduled to mature in November 2024. The rating signifies Moody’s perception of DIFC’s strong credit profile within the BAA3 category, underpinned by a steady income stream derived from a diverse portfolio of tenant and investment properties.
AVIATION-
#1- Two weekly flights between Abu Dhabi and Haikou, China have been added to Abu Dhabi Airports Company and Chinese airline Hainan Airlines’ routes, after the two companies inked an agreement yesterday, according to a press release. The flights will take off from and land in Abu Dhabi Airports’ recently inaugurated Terminal A, which saw some 28 airlines fly in November. Hainan is the first Chinese airline in a decade to operate regular flights to and from Abu Dhabi, according to the release.
#2- Etihad Airways and Air Serbia now have a codeshare agreement, providing Etihad customers access to 12 Southeast European destinations through Air Serbia’s Belgrade hub, Times Aerospace reports. Etihad customers can now reach Air Serbia’s network more easily from key gateways like Athens, Milan, Rome, and Vienna.
ENGINEERING-
Engineering sector to get an upgrade: Investment Corporation of Dubai (ICD) ownedfacilities management group Imdaad inked a three-year MoU yesterday with the Arab Operations and Maintenance Council (OMAINTEC) to develop the skills of professionals conducting maintenance and reliability tasks in the national engineering sector, according to a press release. The two players will also conduct joint research to address the sector obstacles, potentially exploring partnership frameworks for legislative and regulatory affairs.
SUSTAINABILITY-
Ajman Bank and Mastercard for sustainability: Ajman Bank is partnering with Mastercard to use the Carbon Calculator, revealing purchase-related carbon emissions to consumers and facilitating support for reforestation via Mastercard’s Priceless Planet Coalition, according to a press release. Ajman Bank also inked the UAE Sustainable Cards Pledge, vying to make their cards made out of more sustainable materials.
INS.-
Car ins. company Shory partners with National General Ins. (NGI) to offer comprehensive car ins. products for non-GCC vehicles, according to a press release. NGI will use Shory’s digital platforms to expand non-GCC car ins. sales, while Shory will offer a broader range of comprehensive car ins. policies for such vehicles.
INFRASTRUCTURE-
Yas Island will become more inclusive for people of determination and the elderly, after Abu Dhabi’s Department of Community Development and Aldar Properties signed an agreement to launch a project that will make public facilities and the lived-environment more inclusive and accessible, the Abu Dhabi Media Office reports. The project is slated for an initial pilot phase on Yas Island this year and is slated for completion by 2025.
TRADE-
Dubai-based businesses kicked the tires on potential investments in Vietnam and Indonesia in an event organized by the Dubai International Chamber, which aimed to introduce increased trade and investment between Dubai and the two Southeast Asian countries, according to a press release.
EDUCATION-
American Hospital Dubai inked an MoU with Baylor College of Medicine (BCM) to establish a medical college in Dubai, Gulf News reports. Under the partnership, BCM will operate with its own curriculum from within the American Hospital in Dubai.
REAL ESTATE-
Swiss developer DHG Properties plans to debut its first AED 500 mn Dubai residential project next month, according to Trade Arabia. The 430-unit development will be situated in the Jumeirah Village Circle.
