SUSTAINABILITY-

Tadweer + Emsteel to collaborate on alternative fuel: UAE-based waste management company Tadweer and Emsteel have signed an MoU to manufacture sustainable building materials using alternative fuels and raw materials, according to a press release. Emsteel will use refuse-derived fuels produced by Tadweer, as well as construction and demolition waste, to source raw materials for use in its factories.

TECH-

#1- Microsoft plans to launch a training program to equip 1 mn UAE residents with AI skills by 2027, supporting the country’s ambitions to become an AI hub, according to a statement from the Dubai Media Office. The initiative will target government employees, business leaders, and citizens. The announcement was made during a meeting between Dubai’s crown prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum and Microsoft’s President Brad Smith.

More cooperation ahead: The meeting also saw the crown prince and Smith discuss expanding cooperation between the tech giant and the UAE in advanced tech and AI.

Remember: Microsoft is a key AI partner for the UAE, with the company investing USD 1.5 bnin G42, and pledging to set up artificial intelligence centers in Abu Dhabi.

#2- Huawei partnered with the Center of Excellence for Applied Research and Training to establish an Innovation Hub focused on AI, IoT, and 5G, which will serve as a platform for research and training, according to a press release.

ARBITRATION-

Singapore International Arbitration Center partners with ADGM to promote int’l arbitration: The Singapore International Arbitration Center (Siac) signed an MoU with ADGM to promote international arbitration, in addition to setting up conferences and workshops on international arbitration in both countries, according to a statement. The agreement will also see Siac mulling establishing an office in Abu Dhabi.

Background- The MoU builds on a previous agreement between Siac and the ADGM Arbitration Centre from 2021.

DIGITIZATION-

Ras Al Khaimah launched a digital platform for creating and managing data files related to legal cases presented by the Public Prosecution Department and its services, in a bid to speed up judicial procedures, Wam reports. The platform, which uses AI-based and cloud technologies, was developed by several tech giants, including Microsoft, Adobe, Sap, and Wacom.

BUSINESS-

Dubai International Chamber opened a representative office in Almaty, Kazakhstan to facilitate investments and trade between businesses in the two countries, according to a press release. The new office aims to attract companies and investors from Kazakhstan and Central Asia to Dubai by sharing investment information and promoting the emirate. It also aims to provide support for Dubai-based companies expanding into Kazakhstan by offering market insights and connecting them to stakeholders and potential partners.

Trade between the two markets is flourishing: Non-oil trade between both markets grew 82% y-o-y in 2023 to AED 14 bn. Some 187 new companies from Kazakhstan joined the Dubai Chamber of Commerce in 9M 2024, bringing the total number of Kazakhstani member companies to 668.

ENERGY-

Masdar + Sarawak Energy + Gentari consider floating solar project in Malaysia: UAE renewables giant Masdar has signed a joint study agreement with Malaysia’s Sarawak Energy and Malaysian renewables firm Gentari to evaluate the feasibility of a large-scale floating solar plant in Sarawak, Malaysia, according to a press release. The study will assess technical feasibility, environmental impact, and financial viability. The plant would mark Masdar’s second floating solar power plant in Southeast Asia following its 145 MW Cirata plant.

EVs-

Siemens to boost Abu Dhabi’s efforts to integrate EVs in the transport sector: Siemens partnered with the Abu Dhabi Commerce and Industry Chamber to back the emirate’s efforts in boosting the adoption of EVs across its transport sector, according to a press release. Under the agreement, the two parties will work together to organize workshops and training programs for entrepreneurs to inform them on how to use Siemens technologies in the EV sector, as well as market analysis.

M&A-

Ultratech now owns 66% of Rak White Cement: Indian cement manufacturer UltraTech raised it stake in Ras Al Khaimah White Cement (Rak White Cement) from 54% to almost 66% after purchasing an additional 57.7 mn shares, equivalent to a 11.55% stake in the cement firm, according to a bourse disclosure (pdf). Ultratech acquired the stake for AED 80.8 mn at AED 1.4 per share via off market trades, state news agency Wam reports, citing ADX data.

ICYMI- UltraTech raised its total stake in Rak White Cement to 54% by acquiring an additional 25% in July. Prior to the July transaction, the Indian company owned a 29% stake in Rak White Cement, which it had acquired in 2022 as part of a plan to expand the cement manufacturer’s operations locally and globally, and to introduce new products to Rak Cement’s production portfolio.

DEFENSE-

#1- Edge Group’s subsidiary Abu Dhabi Ship Building (ADSB) inked an agreement with Kuwait’s Interior Ministry to repair, upgrade, and modernize its naval fleet, as well as provide training to its personnel, according to a statement.

PLUS- ADSB will integrate French decoy systems outfit Lacroix’s decoy system into its newly launched FA-400 Fast attack vessel, according to a company statement.

#2- Edge Group inked a MoU with the Brazilian navy, to develop autonomous surface and aerial defense systems, according to a company statement. The agreement aims to strengthen technical, operational, and logistical cooperation between the two entities, particularly in the development and deployment of advanced anti-drone systems for naval applications.

PAYMENTS-

Mastercard joined Arab payment system Buna to facilitate cross-border payments across the Mena region and globally, according to a press release. Participants from both sides will benefit from Mastercard Move’s network and Buna’s anti-money laundering system.

AVIATION-

Wizz Air Abu Dhabi adds Moldova flights: Budget-friendly airline Wizz Air Abu Dhabi launched a new route connecting Abu Dhabi with Moldova’s capital Chisinau, according to a press release. The service operates three weekly flights on Wednesdays, Fridays, and Sundays.

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