Sign in
LOGISTICS-
AD Ports eyes port developments in India: UAE-based port operator AD Ports Group inked two MoUs with Indian port operator Gujarat Maritime Board and transport and infrastructure company Rites to boost port and transport infrastructure in India, according to a press release. No investment ticket or timelines for the agreements were disclosed in the statement. The breakdown:
#1- The company will look into the possibility ofconstructing new ports and expanding and upgrading infrastructure of existing ones in India, as well as establishing a “port city” in Gujarat, under the MoU with Gujarat Maritime Board, the statement said. The agreement will also see the two sides explore proposals for direct and indirect investments, joint ventures, and green port initiatives, as well as cooperate on maritime training.
#2-The MoU with Rites will see the pair explore investments in ports, logistics parks, economic and freezones, rail, and other logistics infrastructure, while highlighting sustainability and advanced technologies. The two sides will also study partnerships to develop the planned India-Middle East-Europe Economic Corridor (IMEC), unveiled at a recent G20 summit.
REMEMBER- India and the UAE inked a protocol on Tuesday to establish a multimodal trade corridor in a step that adds momentum to the IMEC project. The two countries also inked an investment pact, following news of the government planning to invest USD 50 bn in India this year.
TELECOMS-
e& will land Bahraini telecoms group Batelco’s 1.4k km Al Khaleej subsea data cable in the UAE, according to a company statement. The Al Khaleej cable, which is set to improve data exchange and communication between Bahrain and neighboring Gulf countries, including Oman and Qatar, is scheduled to come online in 2Q 2026.
STARTUPS-
Hub71 teams up with Stride Ventures to support Abu Dhabi startups: Abu Dhabi-based tech accelerator Hub71 inked a partnership agreement with Indian venture debt fund Stride Ventures to provide Abu Dhabi-based startups with funding and mentorship, according to a press release.
EDUCATION-
The University of Sharjah signed an agreement with the Education Ministry to boost cooperation and attract more high-performing students to the university, Sharjah24 reports.
BANKING-
Dubai Islamic Bank has launched a new credit card — Shams Visa — in partnership with Visa, according to a press release. New cardholders receive a range of benefits, including 20% cashback on online purchases with certain merchants.
