FINANCE-

#1- Botim owner Astra Tech has launched Botim Payroll Solution, which it’s billing as the UAE’s first fully digital payroll and wallet solution for SMEs. The platform offers real-time salary processing and is compliant with the UAE's Wage Protection System, it said in a statement. Features include a dedicated business wallet with an IBAN as well as money transfers, multi-currency prepaid cards, and bill payment services.

#2- The National Bank of Ras Al Khaimah (Rakbank) launched an ins. aggregator platform called Protego, offering car, travel, and home ins. products, according to a statement. The platform gives customers access to real-time quotes and allows them to store and manage their policies in a digital folder and e-vault.

#3- SimPaisa taps Eastnets to secure transactions on its platform: Digital payment firm SimPaisa partnered with compliance and payment solutions provider Eastnets to use the former’s safewatch screening and anti-money laundering products to combat fraud and ensure regulatory compliance for digital payments, according to a joint statement. The partnership will see SimPasia integrate Eastnets’ Compliance Technology suite across its digital payments network.

REAL ESTATE-

Real estate developer Binghatti Properties launched Binghatti Royale, a AED 600 mn residential project in Jumeirah Village Circle, according to a statement. The 47-story building features 354 residential units ranging from one to three bedrooms. The project is scheduled to be delivered in early 2H 2025.

TRADE-

The Sharjah Chamber of Commerce and Industry has launched the Pakistan Business Council, aimed at boosting bilateral trade and investment between the emirate and the South Asian country, Sharjah24 reports. Operating under the umbrella of the Sharjah Chamber, the council will offer Pakistani businesses a platform to expand in the UAE and tap into the regional market.

LOGISTICS-

#1- AD Ports' Noatum Logistics launched a new rail shuttle service connecting Khalifa Port and Fujairah Terminals via Etihad Rail, according to a press release. The weekly service will use a single train with a capacity of up to 156 TEUs or 78 FEUs, increasing logistics capacity and offering potential for first- and last-mile truck integration.

Noatum is fairly new to the Middle East: Abu Dhabi-based AD Ports fully acquired the Spanish logistics company back in July 2023 in a EUR 660 mn transaction as part of a wider expansion plan. Noatum is present in US, Chinese, and Southeast Asian markets and recently acquired Egyptian maritime services provider Safina.

#2- Chinese state-owned automaker Changan Automobile opened a regional auto parts distribution center in Dubai’s Jebel Ali Free Zone yesterday, according to a statement. The warehouse will ultimately span some 10k sqm, with the first phase set to run 2k sqm and focus on fast-moving parts. Once fully operational, the facility is expected to reduce the delivery time of fast-moving parts to less than 48 hours from 15 days and of full-range parts to a week from 60 days.

Changan didn’t give a timeline for the buildout of subsequent phases.

EDUCATION-

IIT-Delhi comes to Abu Dhabi: The Indian Institute of Technology Delhi (IIT-Delhi) opened its first offshore campus in Abu Dhabi on Monday, according to the Abu Dhabi Media Office. The IIT-Delhi Abu Dhabi signed partnership agreements with Khalifa University, Mohamed bin Zayed University of Artificial Intelligence, Sorbonne University Abu Dhabi, and Zayed University to conduct joint research and launch training programs and seminars.

STARTUPS-

iACCEL GBI to boost UK- and Europe-based startups' access to the region: Dubai government-backed market accelerator iACCEL GBI partnered with Europe's largest angel-led finance platform Angels Den Funding to facilitate UK- and Europe-based startups’ entry into the Emirati and Middle Eastern markets, according to the Abu Dhabi SME Hub.

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