TRANSPORT-

RTA expands fleet with AED 1.1 bn low carbon bus order: Dubai’s Roads and Transport Authority (RTA) purchased 636 new buses for AED 1.1 bn to enhance the emirate’s public transport system, it said in a statement. The new fleet — set to be delivered in 2024 and 2025 — comes as part of the RTA’s plans to boost public transport use to 25% by 2030, and to convert 100% of public transport buses to electric and hydrogen-powered buses by 2050.

The breakdown: The order includes 40 electric buses and 50 city service buses from Chinese bus manufacturer Zhongtong, 400 city service buses from German MAN Truck & Bus, 76 double-deckers from Volvo, and 70 articulated buses from Anadolu Isuzu.

REAL ESTATE-

Singapore’s Mapletree to set up shop in Abu Dhabi: Singapore’s real estate firm Mapletree Investments plans to open an Abu Dhabi office as it seeks to tap into the Emirati booming real estate sector, Bloomberg writes, citing sources it says are in the know. Mapletree, which is owned by Singapore’s state investor Temasek Holdings, re-hired its former vice president Khairul Abdullah (LinkedIn) to lead its Middle East operations, the sources added.

Remember: The company faced its first loss in two decades during the fiscal year ending in March amid declining valuations in its office portfolios across the US, Europe, and Australia.

AVIATION-

Abu Dhabi Airports rolls out smart travel project for automatic identification: Abu Dhabi Airports is set to launch a smart travel project at Zayed International Airport, integrating automatic biometric authentication systems at all the airport’s security and operations touchpoints, according to a statement. Launched in partnership with the Federal Authority for Identity, Citizenship, Customs, and Port Security, the project will use the authority’s databases to automatically authenticate departing passengers, eliminating the need for prior registration.

About the project: The biometric systems, developed by AI transport solutions firm Next 50, were first introduced by Abu Dhabi Airports and Etihad Airways with the launch of the new terminal at Zayed International Airport in November 2023. The systems include automated registration, self-service baggage, and facial recognition at e-gates and boarding gates.

The project will be implemented in three phases, currently being expanded in five additional airlines’ check-in areas, and boarding gates. Future stages will include Etihad Airways’ lounge and duty-free retail outlets.

ENERGY-

#1- Kilimanjaro teams up with Chinese firm for potential solar projects: Dubai-based renewable energy group Kilimanjaro Energy signed an MoU with Chinese solar energy systems supplier Skyworth Photovoltaic Technology to cooperate on global solar energy and energy storage projects in the commercial and industrial sectors, according to a statement from the Dubai Media Office.

Kilimanjaro eyes setting up shop in China: Kilimanjaro plans to open an office in China to offer consulting services for Chinese companies looking to expand into the region.

#2- UAE University set to get the largest solar power project in the Emirates’ education sector: Abu Dhabi Energy Services (Ades), a subsidiary of state-run Taqa, kicked off a project to implement a 9 megawatt-peak solar power plant at the United Arab Emirates University in Al Ain, Wam reports. The project is poised to become the largest solar energy undertaking in the country’s education sector.

The project will cover 25% of the university’s annual power needs via the installation of more than 14k ground-mounted solar panels. The project will take 13 months to complete.

BUSINESS-

Dubai to support the establishment of a financial center in Indonesia's new capital: The Dubai International Financial Centre agreed to support the establishment of the Nusantara Financial Centre in Indonesia’s new capital under an MoU it signed with the Nusantara Capital City Authority, according to a statement from the Dubai Media Office. The agreement will see both entities exchange expertise on regulatory frameworks and efficient business models to prompt businesses to open offices in both financial hubs.

ICYMI- Indonesian President Joko Widodo wrapped up a two-day visit to the UAE on Wednesday, where he met his Emirati counterpart Sheikh Mohamed bin Zayed Al Nahyan at Qasr Al Watan in Abu Dhabi. The two leaders signed a raft of MoUs, building on the comprehensive economic partnership inked between the two countries in 2022. The visit also saw the UAE’s Eagle Hills ink an agreement for a sizable real estate investment ticket, as well as cooperation on the banking front.

BANKING-

Central banks of UAE + Seychelles collaborate to streamline payments: The Central Bank of the UAE inked two MoUs with its counterpart in Seychelles to streamline cross-border transactions and integrate their payment networks, Wam reports. The first agreement seeks to facilitate the use of AED and SCR to settle commercial transactions between both countries, boost trade, and attract direct investments. The second agreement will see both banks link up their instant payment platforms to facilitate the electronic transfer of funds.

The second trade settlement agreement in as many weeks: The CBUAE inked an agreement with the National Bank of Ethiopia last week to explore the use of local currencies in trade and integrate their payment platforms.

HEALTHCARE-

The UAE launched a USD 150 mn global hospitals program aimed at building 10 hospitals in underserved communities, Wam writes. The first hospital set to be built under the program will be the UAE-Indonesia Hospital for Cardiac Diseases, currently under development in Surakarta and expected to open by 4Q 2024.

FINANCE-

DFSA slaps Symphony Services and its CEO with AED 1.3 mn fines: The Dubai Financial Services Authority (DFSA) issued penalty notices against Symphony Services and its CEO, Daniyar Jabarkulov, for providing false and misleading information for an AML risk assessment in December 2021 and not allowing access to requested documents during a visit in March 2022, Wam reports.

The fines: Symphony was fined AED 771.3k and had its registration as a non-financial business entity withdrawn, while CEO Jabarkulov was fined AED 513.2k and prohibited from holding any position or being employed by any licensed person or entity in the DIFC, and from engaging in any financial services-related profession.

Tags: