DEBT-

Abu Dhabi’s sovereign wealth fund ADQ listed its USD 2.5 bn bonds on ADX in a secondary listing, following its maiden dual tranche listing on the London Stock Exchange (LSE) in April, according to a statement. The issuance was 4.4x oversubscribed, receiving over USD 11 bn in orders.

BACKGROUND- Comprising two tranches — a five-year USD 1.25 bn tranche and a 10-year USD 1.25 bn tranche — the issuance attracted broad institutional interest across Asia, the US, the Middle East, the UK, and Europe. The proceeds will be used to expand ADQ’s investments and growth capital in key sectors.

LOGISTICS-

#1- Jebel Ali-Ningbo maritime routes to get a boost: Emirati port operator and logistics giant DP World partnered with China’s Zhejiang Seaport Group to expand port logistics and shipping routes between Jebel Ali Port in Dubai and Ningbo-Zhoushan Port in China, according to a statement. The pair will work to attract shipping companies and encourage them to cooperate on slot exchanges and vessel space purchase on the Dubai to Ningbo route. They will also look to boost automobile logistics and Ro-Ro trade between the two ports.

Plus: more Chinese investments + green port cooperation. The pair will also work together to encourage the development of green and low-carbon ports, and to increase Chinese investments in the UAE’s logistics sector, including in the Jebel Ali Freezone. The two sides will form mechanisms to exchange information and expertise in a range of relevant topics, including building green terminals, the use of shore power, and refueling green ships with more environmentally friendly fuels.

#2- Cosco Shipping Ports Abu Dhabi Abu Dhabi Container Freight Station will use the UAE’s national railway network and terminals to transport goods between Khalifa Port and other logistics zones in the UAE, under an MoU inked with Etihad Rail, according to a statement. It will also use Etihad Rail’s freight rail terminals to store and distribute distribution goods. The partnership is set to help reduce transit times for CSP’s logistics operations and lower its carbon footprint.

#3- 7X, formerly Emirates Post Group, plans to increase the number of pick-up and drop-off locations to 1k, up from 700, by the end of this year, according to a press release.

INVESTMENT-

German automaker Stellantis will invest an additional USD 55 mn in US-based, Mubadala-backed electric flying car manufacturer Archer Aviation, according to a press release. This comes a month after Stellantis purchased 8.3 mn shares of Archer’s stock, making it the largest shareholder in the firm. Stellantis provided an initial USD 150 mn in equity funding to bolster Archer’s production capacity for its eVTOL last year.

What will the funds be used for? The investment will go towards accelerating Archer’s business initiatives, including replacing traditional 60 to 90 minute commutes by car with 10 to 20 minute electric air taxi flights, according to the statement. Archer also has plans to ramp up production of its vehicles by establishing a factory that can support it.

BANKING-

Bank of Punjab eyes expansion to Bahrain and the UAE: The Bank of Punjab’s board approved plans to establish a wholesale banking unit in Bahrain and a representative office in the UAE, according to a regulatory filing (pdf). These expansion plans are pending approval from the State Bank of Pakistan and other regulatory authorities.

FINTECH-

Indian tourists can now make UPI payments in the UAE: Indian payments giant NPCIInternational will introduce QR code-based Unified Payments Interface (UPI) payments for Indian tourists and non-residents in the UAE through UAE payments firm Network International’s points of sale in the country, according to a press release (pdf).

ENERGY-

PowerChina secures contract for 1.5 GW Al Ajban plant: PowerChina Huadong Engineering Corporation secured an engineering, procurement, and construction (EPC) contract for the 1.5 GW Al Ajban solar power plant in Abu Dhabi, Construction Week reports. The plant is set to be home to three of the world's largest solar sites when it becomes operational in 3Q 2026.

Background: EDF Renewables, Korea Western Power Company (KOWEPO), and Masdar inked a power purchase agreement with Emirates Water and Electricity Company (EWEC) in April to design, finance, build, and operate the plant. The plant will cut carbon emissions by 2.4 mn tons annually and generate enough power for 160k homes.

CAPITAL MARKETS-

Lunate and Daman Investments are the first investment funds authorized to operate under the Voluntary Alternative End-of-Service Benefits Scheme by the Human Resources Ministry and the Securities and Commodities Authority, Wam writes. The authorization allows both companies to launch two Sharia-compliant savings funds for severance benefits.

Companies can now enroll in the two new savings funds by contacting Lunate and Daman Investments.

REAL ESTATE-

Knight Frank Mena was selected as the exclusive leasing and marketing consultant for UK-based industrial solutions provider Radius Group’s logistics city located in Dubai Investments Park 2, according to a press release. Knight Frank Mena’s industrial and logistics team will facilitate the acquisition, development process and leasing for Radius. Radius City Logistics is set to be the first-class A speculative temperature-controlled facility in the UAE, with construction scheduled to start in August and operations expected to launch in 2025.

AGRICULTURE-

GCL expands its horticulture nursery in Abu Dhabi: Dubai-based Al Khayyat Investments’ subsidiary Gulf Contracting and Landscaping (GCL) expanded its site at Al Rahba in Abu Dhabi to become a 1.25 mn sqft horticulture nursery, according to a press release. The nursery now houses over 1 mn plants, making it the largest nursery in the UAE.

GCL is planning to build a new facility by 2025 spanning more than 1.5 mn sqft, it said in the statement.

AVIATION-

GEMS International School launched a new “Space Lab” resembling a Mars space capsule, a press release reads. The lab offers courses on topics such as Martian agriculture, metaverse game design, AI robotics, driverless Martian transport, DIY space repairs, and advanced technologies for space work, according to the statement.

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