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INVESTMENT-
#1- Mubadala Capital invested in early-stage venture capital firm RW3 Ventures’ first blockchain-focused fund, according to a press release. The fund raised USD 60 mn in capital, with backing from The Raptor Group and Mubadala Capital, though the statement does not disclose the exact breakdown.
About the fund: The fund focuses on disruptive blockchain ventures from pre-seed to Series A stages, with investments spanning blockchain protocols, decentralized infrastructure, encryption, and gaming.
#2- Sharjah Islamic Bank to lure more Kuwaiti investments to the UAE: Kuwait Business Council inked an agreement with Sharjah Islamic Bank to offer Kuwaiti businesses and investors in the Emirates financial and banking services to support investments in Dubai and the Northern Emirates, state news agency Wam reports. The Council will also launch promotional programs to inform the Kuwaiti business community about potential investments in the country.
TRANSPORT-
You wil be able to pay for your Etihad Rail trip through Nol: Dubai’s Road and Transport Authority (RTA) and national rail operator Etihad Rail inked an MoU at the World Government Summit to integrate booking and payment for Etihad Rail trips into RTA’s Nol system, according to the Dubai Media Office. The 900 km national rail network has yet to begin operations for passengers, but is set to connect 11 cities across the UAE, from Al Sila to Fujairah, with trains running at 200 km per hour, Khaleej Times reports.
AUTOMOTIVE-
New quick service stations for Rabdan One electric vehicles: Adnoc Distribution has partnered with automobile company NWTN to introduce 20 quick service stations for UAE-made Rabdan One EVs at Adnoc’s stations, reports Wam.
ENERGY-
The Sharjah Economic Development Department sat with gas sector investors yesterday, including the heads of Arrow Gas & Technical Services, Universal Industrial Gas, and United Gas, to discuss cooperation and receive comments and feedback from the companies, reports state news agency Wam.
RETAIL-
#1- Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum and Indian Prime Minister Narendra Modi have laid the foundation stone for Indian marketplace Bharat Mart in the Jebel Ali Freezone (Jafza), according to a statement. The marketplace is set to debut in 2026 with the aim of streamlining global market access for Indian manufacturers and exporters.
#2- Emirate SkyCargo’s e-commerce delivery service arm Emirates Delivers has launched a new route to Kuwait, allowing customers to receive orders from UAE-based platforms in three to five days, according to a statement released on Thursday.
FINTECH-
Payment gateway Telr merchants will now have access to Fils’ carbon offsetting feature, after the two companies inked an agreement, according to a Fils statement. The feature allows merchants to track the emissions of transactions and provides access to voluntary carbon markets.
MANUFACTURING-
Steel producer Tenaris inaugurated its USD 60 mn industrial complex in Abu Dhabi Industrial City, according to a press release. The 200k square meter industrial complex houses a pipe service yard dedicated for the storage, inspection, and preparation of pipe products. It also includes a specialized industrial training center tailored for training Adnoc engineers as part of a partnership with the state-owned company.
AVIATION-
Flydubai is expanding its European operations with the introduction of four new destinations: Basel, Switzerland; Riga, Latvia; Tallinn, Estonia; and Vilnius, Lithuania, according to a press release. The move marks the carrier’s entry into the Baltic region and makes it the first UAE national carrier to offer direct flights to these cities.
