IIT Madras in Dubai

India’s top-rated engineering school, IIT Madras, will establish its first Applied AI Innovation Center at Dubai CommerCity, according to a press release. The announcement came on the sidelines of Worldef Dubai 2026.

What’s planned: The center will host six applied AI startups with a combined valuation of USD 118 mn and projected revenues of USD 281 mn over the next five years.

Dubai base: Dubai CommerCity is described as a freezone dedicated to digital commerce in the Middle East, Africa, and South Asia region. The project is being facilitated by MCA Gulf, identified as a strategic partner of IIT Madras’s Global Research Foundation in Dubai.

Mandate: The foundation will lead the initiative, providing enablement and advisory support. The center is intended to support applied AI product development, solution deployment, and intellectual property creation, and to facilitate market access and investment for startups across GCC markets.

Nisus Finance targets INR 40 bn AUM after NCCCL acquisition

Mumbai-based alternative investment manager Nisus Finance Services is targeting consolidated assets under management (AUM) of INR 40 bn (USD 482 mn) in FY 2026, following its acquisition of New Consolidated Construction Company. The firm is planning a significant expansion in the UAE.

UAE footprint: The firm has invested in Dubai projects — USD 64.6 mn in the Lootah Avenue residential complex and USD 27.7 mn in a project in Majan. The company has set a longer-term target of USD 1 bn in consolidated AUM by 2028.

IFFCO proposes nano fertiliser cooperation in Oman

Indian Farmers Fertiliser Cooperative (IFFCO) has proposed introducing nano fertilizers in Oman during a meeting with OQ — which represents the Omani government’s 50% stake in Oman India Fertiliser Company (OMIFCO) — in Muscat, Zawya reports. IFFCO and Krishak Bharati Cooperative each hold a 25% stake in OMIFCO. IFFCO’s proposal aims to support Oman’s food security and environmental objectives.

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