TRANSPORT-

ADIO, Gridserve to develop the electric vehicle industry: The Abu Dhabi Investment Office (ADIO) inked a partnership with UK-based EV sustainable energy provider Gridserve to advance the UAE’s electric vehicle and smart mobility industries, ADIO said in a statement. The partnership, announced on the sidelines of COP28, will see Gridserve join Abu Dhabi’s Smart and Autonomous Vehicles Industry (SAVI) cluster to accelerate the emirate’s transition to smart and autonomous EVs.

Green bus stops in Ras Al Khaimah: The Ras Al Khaimah Transport Authority (RAKTA) launched a new generation of public bus stops, powered by renewable solar energy and designed with natural materials extracted from mountains, reports Wam. RAKTA will up the number of upgraded transport shelters across the Emirate as part of its 2023-2030 strategy to enhance mass transport infrastructure and coax residents to ditch their cars.

Dubai toll operatore Salik will be able to deliver its tags to customers directly through Careem Quik, a high-speed grocery service on the Careem app, as part of the expansion of Salik’s partnership with Careem, according to a press release. 300k customers have linked their postpaid and prepaid bills to Careem Pay, enabling them to automate payments for Salik recharges and other expenses. “We hope to help people free up more time in their day by removing the need to drive to other locations to buy a Salik tag,” Mudassir Sheikha, CEO and co-founder of Careem said.

Trucking through alternative roads: Dubai’s RTA, in collaboration with Dubai Police, has implemented a 24/7 truck ban on specific Nad Al Sheba roads following Al-Meydan Street improvements, according to a press release by the RTA on Saturday. The move, effective since December, supports the strategic development plans for the area. Developers and truck drivers are urged to use designated alternative routes, with permits required for restricted roads.

AVIATION-

Budget-friendly airline Wizz Air Abu Dhabi will launch an air route between Turkistan and Abu Dhabi on 16 January 2024, featuring three weekly flights providing flexible travel choices on Tuesdays, Thursdays, and Saturdays. (The Astana Times)

REAL ESTATE-

ADX-listed GFH is launching a new development in Bahrain’s Manama, named Areen, with the backing of Bahraini Prince Abdullah bin Hamad bin Isa Al Khalifa, according to an ADX disclosure. The 2 mn sqm project will accommodate 25k Bahrainis across 16 major clusters of commercial offices, rental units, and facilities for hospitality and entertainment. The blueprints for Areen also include a new Raffles Hotels & Resorts branch spanning 131k sqm. The five-star hotel resort opened last Monday, complete with 78 villas, 120 rooms, and five F&B outlets.

Reportage launches residential project in Abu Dhabi: Abu Dhabi-based real estate developer Reportage has unveiled its new 844-unit residential project, dubbed Royal Park, in Abu Dhabi’s Masdar City, TradeArabia reports. With the launch of the new project, Reportage has expanded its portfolio in Masdar City to six projects, boasting some 2.7k residential units.

CLIMATE-

You can track your carbon footprint: The National Experts Program (NEP)rolled out an application on Wednesday with the Climate Change and Environment Ministry to measure carbon emissions of an individual Emiratis, reports Wam. The new UAE Environmental Identity (UAEEI) app tracks data on consumer choices, with the aim of reducing emissions by 43% by 2030. The project is being funded by sovereign investor company Mubadala and the Abu Dhabi Department of Energy.

REGULATION-

The Central Bank of the UAE (CBUAE) revoked Emirati ins. broker Cogent’s license after failing to comply with regulations, reports Wam. The broker was axed from the CBUAE’s Register on Thursday, with no further information provided. The Central Bank’s move comes one year after it enacted strict guidelines to offset money laundering and terrorism financing in the insurance sector.

Human Resources Ministry clamps down on two domestic recruitment agencies: The Human Resources and Emiratisation Ministry revoked the licenses of the Emirates International Centre for Domestic Workers and Al Shamsi Domestic Workers for violating the domestic workers law, the ministry said in a statement. The agencies will still be legally obligated to settle the status of their workers and pay any imposed penalties until the date of the license revocation.

CAPITAL MARKETS-

The ADX and the Shenzhen Stock Exchange (SZSE) agree to enhance cross-border investment and ETF cooperation, according to an ADX statement. The two exchanges inked an MoU, following similar agreements between the SZSE and Saudi exchanges, and the Shanghai Stock Exchange and the Dubai Financial Market, Reuters reports. This comes amid a surge of collaboration between institutions in nations seeking to reduce dependence on the West.

A shift in international investment flows: There has been increased investment flows between the Middle East and China while some global investors are shifting their focus from China to Southeast Asian nations like Vietnam and Malaysia, Mike Wardle, CEO of London-based think tank Z/Yen Group explained. Hong Kong has been strengthening its bonds with the Middle East, and recently launched the first ETF in the Asia-Pacific region tracking Saudi Arabian equities.

Central Asian Stock Exchange to join ADX’s Tabadul: The Abu Dhabi Securities Exchange (ADX) signed an agreement with Tajikistan’s Central Asian Stock Exchange (CASE) to officially add CASE to ADX’s cross-market trading platform, Tabadul, according to an ADX press release. The partnership, expected to be implemented early 2024, will allow investors to access and directly trade on both bourses through Tabadul. CASE joins current Tabadul members ADX, Bahrain Bourse, Muscat Securities Market, and Astana International Exchange.

INFRASTRUCTURE-

EBS to build two hangars at Abu Dhabi Airport: Steel structure manufacturer Emirates Building Systems (EBS) has been awarded an AED 34 mn contract to build two aircraft hangars at Abu Dhabi Airport, according to a press release. EBS will be responsible for engineering, fabrication, supply, construction, and the application of fire-rated paint, with the fast-tracked project slated for completion in early 2024, the press release says.

ENERGY-

ENEC, China National Nuclear Corporation to partner in global nuclear energy projects: The Emirates Nuclear Energy Corporation (ENEC) inked an MoU on Friday with China National Nuclear Corporation (CNNC) to strategize windows for developing new nuclear energy plants globally, reports Wam. The agreement will see the corporations form a Joint Working Group to guide countries eyeing the nuclear energy sector.

Nuclear solutions for energy scarcity: ENEC and CNNC will also launch High-Temperature Gas-Cooled Reactors (HTGR) for power generation and heat, addressing the need to triple global nuclear energy capacity by 2050 in the transition to clean energy.

Schneider Electric inked an MoU with Masdar City-based technology company Volts to establish a giga-industrial facility in Abu Dhabi to produce Battery Energy Storage Systems (BESS), according to a press release. Both companies are looking into new tech and services to make industrial and home energy storage systems, including battery cells.

WAR WATCH-

More aid from Gallant Knight 3: An aid ship carrying 4,016 tonnes of humanitarian cargo recently arrived at Egypt’s Al Arish City after setting sail from the port of Fujairah in an attempt to alleviate the plight of the Palestinians in Gaza, Wam writes. The ship delivered 3,465 tonnes of food supplies, 420 tonnes of shelter materials, and 131 tonnes of medical aid were granted by the Khalifa bin Zayed Al Nahyan Foundation and the Zayed Bin Sultan Al Nahyan Charitable and Humanitarian Foundation.

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