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ENERGY-
DP World + Masdar partner on renewables:DP World signed a partnership agreement with Masdar to explore and implement renewable energy systems, including solar and battery energy storage systems, across the former’s port operations in the region, according to a statement. The partnership will initially focus on identifying sites to deploy renewable energy solutions in Saudi Arabia, Senegal, and Egypt over a period of three years.
CAPITAL MARKETS-
First Abu Dhabi Bank (FAB) has rolled out a post-trade platform for MENA asset managers, named MENA Securities Services for Asset Managers (MENASSA), Wam reports. MENASSA integrates services such as global custody, fund accounting, transfer agency, performance and risk measurement, and middle office services into a single platform.
AVIATION-
Emirates’ loyalty program is getting more benefits with Visa partnership: Emirates Skyward inked a multi-year exclusive partnership with Visa that will see the two work to issue co-branded cards, according to a press release. Holders of the co-branded cards will be offered benefits and customized promotions.
REAL ESTATE-
Union Properties sold land valued at over AED 500 mn, as part of its turnaround strategy, according to a press release. The company is currently in the process of divesting several of its assets. The company is currently assessing proposals for its assets, valued at more than AED 1.2 bn.
DDX Global is set to build Dubai’s first tokenized real estate project, Desert Pearl, according to a press release. By launching the project, the Dubai-based Real World Assets (RWA) tokenization firm aims to offer customers the chance to invest in the RWA tokenization market, which is expected to be valued at USD 16 tn by 2030.
SOUND SMART- Real World Asset tokenization is a process that represents digital tokens as tangible assets, such as financial assets, bonds, shares or equity, stretching to art, commodities, intellectual property and real estate.
BUSINESS-
Tecom Group + VFS Global fast-track visa processing and document attestation in Dubai: Tecom Group partnered with VFS Global to deliver visa processing and document attestation services to professionals across its 10 business hubs in Dubai, according to a Dubai Media Office statement. Accessible through axs, Tecom Group’s online platform, the service will facilitate document validation for more than 70 countries, including the Schengen Area, Saudi Arabia, Egypt, India, China, Australia, and Canada. The service will grant applicants a 90-day entry permit to initiate employment in the UAE while their document attestation is underway.
The Dubai Chamber of Commerce launched the Hellenic Business Council to improve business and trade between the UAE and Greece, according to a Dubai Media Office statement from the Dubai Media Office.
AUTOMOTIVE-
Forseven to manufacture Nio EVs: Abu Dhabi-backed CYVN Holdings’ EV subsidiary Forseven signed a technology licensing agreement with Chinese EV manufacturer Nio, granting Forseven the rights to use Nio’s software, technical information, and intellectual property rights to manufacture and develop Nio-branded EVs, Nio said in a press release.
AVIATION-
Yas Mall to offer airport check-in services: Miral — in partnership with the Department of Culture and Tourism Abu Dhabi, Abu Dhabi Airports, and off-airport baggage processing solutions provider OACIS ME — has introduced airport check-in services at The Fountains in Yas Mall, according to an Abu Dhabi Media Office statement. This service is available exclusively for Etihad Airways and Air Arabia flights, allowing its passengers to enjoy dining, shopping, and entertainment before their departure.
MINERALS-
Canadian SRG Mining is planning to redomicile from Canada to the Abu Dhabi Global Market (ADGM) to expand its “strategic optionality,” the company said in a press release. By registering in ADGM, SRG is looking to benefit from the UAE’s double taxation and bilateral investment treaties with Guinea, where its flagship project is located.
MANUFACTURING-
UAE to locally manufacture remote weapon stations: Abu Dhabi-based metal processing and fabrication firm Shielders Advanced Industries inked an MoU with Australian EOS Defence Systems to form a joint venture aimed at locally manufacturing EOS’ lightweight R150 remote weapon system (RWS), according to a press release. The MoU was signed during the companies’ participation in the Ajban Defense Industry and Technology Exhibition, which concluded last week.
