EDUCATION-

#1- New AED 1 bn scholarship program for Emiratis:One hundred high-achieving Emirati students from public and private schools will receive support for their higher educationthrough the newly launched AED 1.1 bn Hamdan bin Mohammed Academic Scholarship Program every year, reports Wam. The scholarships will help send students to international universities for “specialized studies that are compatible with the needs of Dubai’s economy,” Wam said. The program will start accepting applications in April for the 2024-2025 academic year.

#2- ADU law students can train in the UK: Abu Dhabi University’s (ADU) College of Law inked an MoU with Contractus House UK to provide cross-learning experiences for its students, reports Wam. The agreement will see Contractus House provide ADU law students access to its eight-week internship program, as well as jointly host conferences, workshops, seminars, academic activities, and training programs with ADU.

BANKING-

Abu Dhabi Judicial Department (ADJD) is launching a new digital platform in partnership with Abu Dhabi Islamic Bank (ADIB)for automated deposit and withdrawal processes for judicial cases, according to a press release.

ICYMI- ADJD is setting up a new system that will allow enforcement decisions on judicial rulings to be canceled once the relevant financial payments have been completed through official channels. The system will monitor payment statuses on enforcement decisions, and is set to be the first implemented by a judicial authority in the region.

FINANCE-

Standard Chartered’s fintech unit SC Ventures will open an office in the Abu Dhabi Global Market (ADGM), with Gautam Jain (LinkedIn) leading the new office, according to a press release. Jain boasts 30 years of experience in banking and tech, with posts at Standard Chartered Bank, Barclays, HSBC and Citigroup. The announcement comes after SC Ventures joined forces with Japan’s SBI Holdings to launch a USD 100 mn digital asset joint venture firm in the UAE last November.

Mastercard will work with local banks to provide SMEs in the Abu Dhabi Global Market (ADGM) with cards for secured expense management, as part of a partnership agreement with ADGM, according to a press release.

REAL ESTATE-

Alef Group fares well at Acres: Sharjah-based developer Alef Group secured AED 310 mn in sales for its Al Mamsha Sharjah and Hayyan residential projects at the 2024 Acres Real Estate Exhibition, reports Wam. The Alef developments sit near Sharjah International Airport, children’s school complexes, the University of Sharjah, and Sharjah Healthcare City.

The exhibition helped generate more than AED 1.4 bn real estate transactions, attracting more than 400 visitors and 93 regional and global real estate companies, Wam reports.

MANUFACTURING-

Assa Abloy inaugurates new Dubai regional HQ: Door security solutions provider Assa Abloy inaugurated its new regional HQ at the National Industries Park (NIP) in Dubai, according to a press release. The new facility includes a showroom displaying Assa Abloy’s products.

ENERGY-

Lebanese energy production and distribution ITP Energy has committed more than AED 40 mn in seed investments in Sharjah, with upcoming plans to double the investment to AED 80 mn between 2025 and 2026, according to a press release.

MARITIME-

Adnoc awards USD 56.9 mn contract to dredging company: The Abu Dhabi National Oil Company (Adnoc) awarded the National Marine Dredging Company (NMDC) a USD 56.9 mn (AED 208.8 mn) contract for a island reclamation project for Abu Dhabi’s Tamkeen, according to an ADX disclosure. The disclosure did not provide more details on the project.

AUTOMOTIVE-

US’HummingbirdEV to establish new manufacturing facility in the UAE: US-based EVsystem provider HummingbirdEV has partnered with India-based, UAE-backed, global investments and advisory firm IBMC Group to open a microfactory facility in the Emirates for the production of zero-emission commercial vehicles in the MENA and Southeast Asia regions, according to a press release. The new facility follows HummingbirdEV’s UAE office launch, and its hiring of a local operations team, which came in efforts to leverage the UAE’s trade agreements with Southeast Asia, and India in specific.

The microfactory will specialize in producing EVs for delivery services: The microfactory will focus on producing vehicles for mid-mile delivery (delivery of goods from local hubs/ports/factories to local distribution centers) and last-mile delivery (delivery of goods from the local distribution center to the end consumer), including refrigerated trucks, to meet the region’s surging demand, the statement said.

DEFENSE-

Swedish aerospace and defense company Saab will provide the UAE’s Defense Ministry with maintenance support for the GlobalEye Airborne Early Warning and Control (AEW&C) solution under an USD 190 mn (AED 697.8 mn) contract, according to a statement. The three-year agreement covers maintenance, logistics, and training services.

What’s GlobalEye? The system provides real-time information with long-range detection capabilities across air, sea, and land to enhance situational awareness and threat detection for military forces.

HEALTHCARE-

New healthcare company sets up shop in Dubai: Newly-launched NeoHealth will allow patients to meet with DHA-licensed nurses via Zoom or schedule in-person home visits for personalized medical and personal care services, according to a press release. The company’s services cover clinical care, postoperative rehabilitation, elderly and newborn care, and home testing.

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