DEBT-

DP World lists Mena’s first USD 100 mn blue bond on Nasdaq Dubai: DP World listed the Middle East and North Africa’s first corporate blue bond on Nasdaq Dubai, according to a press release. Issued under DP World’s USD 10 bn Global Medium-Term Note Program, the USD 100 mn bond carries a 5.25% coupon rate and matures in 2029.

What is a blue bond? A blue bond is a facility that supports sustainable marine and fisheries projects. It is used by governments or development banks to raise funds from key investors to finance marine and ocean-based projects.

ICYMI- DP World issued MENA’s first-ever corporate blue bond in December, pricing it at a record-low spread of 99.6 bps above US Treasuries — DP World’s tightest-ever pricing in both bond and sukuk markets. The five-year issuance was backed by T. Rowe Price Associates and arranged by Citigroup.

M&A-

Blockchain-backed digital credentialing provider for schools Educhain has fully acquired India-born K-12 schools management platform Rarome for an undisclosed sum, according to a press release (pdf). The education firm — which is marking its entry into the K12 ERP space — aims to create a platform that “integrates school management with secure digital credentialing, ensuring academic institutions have the tools they need to succeed in the digital age,” said Virendra Maloo, CEO of Rarome. Educhain’s clients include UAE University, Khalifa University, Zayed University.

HEALTHCARE-

#1- AirMed opens regional hub at DHCC: US-based Global Medical Response’s fixed-wing air ambulance transport arm AirMed International opened a regional office at Dubai Healthcare City (DHCC), according to a LinkedIn post. The Birmingham-based medical transport company has operated in the UAE for over 20 years, and the new move to establish the regional hub serves to fuel its global growth, according to a press release.

#2- Burjeel to improve bone marrow transplant accessibility in Egypt: Burjeel Holdings will establish a bone marrow transplant unit in Egypt under a new MoU signed with Egypt’s Health Ministry at Arab Health, reads a company press release. The project will be led by Burjeel Medical City (BMC) and supported by Burjeel Cancer Institute.

#3- Abu Dhabi’s DoH grants license to longevity clinic: Abu Dhabi’s Department of Health approved Pure Health ’s Pura Longevity Clinic license application, the Abu Dhabi Media Office reports. Located in Sheikh Shakhbout Medical City and connected to PureHealth’s AI-enabled Pura app, Pura Longevity Clinic will provide a range of services to promote health, longevity, and disease prevention.

TRADE-

Ras Al Khaimah Chamber of Commerce inked an agreement with the Armenian Industry Fund to strengthen their trade and investment ties — including the hosting of the Made in Armenia exhibition in the UAE next month, Wam reports. The event will run from 20-22 February at Al Hamra Exhibition Center, and will feature 50 Armenian companies across various industries.

INVESTMENT-

#1- UAE-IBC and MIDC sign MoU to revitalize trade and investment: The UAE IndiaBusiness Council (UAE-IBC) and Maharashtra’s industrial development agency Maharashtra Industrial Development Corporation (MIDC) signed an MoU to revitalize UAE-India bilateral trade and investment, according to a press release. The partnership will see Maharashtra investments promoted to UAE businesses, and will help facilitate the expansion of Indian manufacturing, tourism, and renewables companies to the UAE.

#2- Deniz Ventures and Rasmal Ventures’ investment in TeamSec comes with a USD 7.6 mn price tag: The previously announced joint investment by Deniz Ventures, the venture capital arm of Emirates NBD’s Turkish unit DenizBank, and Doha-based Rasmal Ventures in Turkish AI-driven securitization startup Teamseck amounted to some USD 7.6 mn, according to a statement.

ICYMI-The investment, first announced in December, will help TeamSec develop its securitization-as-a-service platform, while also fueling its expansion across Mena. Using AI and data analytics, the startup will help accelerate digital transformation in the financial sector and address technological gaps in securitization through collaboration with startups.

ENERGY-

Emirates National Oil Company (Enoc)’s subsidiary Dragon Oil struck oil at the East Crystal-1 exploratory well in the Gulf of Suez, Egypt’s Oil Ministry said in a statement. Initial tests show output exceeding 2k barrels per day, while a formation with over 100 ft depth of potential reserves remains untested. The find locks in an 8 mn barrel pre-drill estimate, with potential for higher yield.

And there’s more to come: The Gulf of Suez Petroleum Company (GUPCO), which has taken over drilling activity, plans to drill two more wells, looking to add around 5k barrels per day to output, according to the statement.

REAL ESTATE-

#1- Asico snaps up contract for Sama Al Jaddaf: Asico Real Estate and real estate entrepreneur Abdelkarim Al Sayyar inked an MoU granting Al Suwaidi Investment’s subsidiary the development of the AED 90 mn Sama Al Jaddaf residential project, according to a press release. Asico will be responsible for the design and construction of the 12-floor residential complex with an area in excess of 157k square feet.

#2- Refine Development has a AED 16.3 bn development pipeline in 2025: RefineDevelopment Management will deliver some AED 16.3 bn in real estate projects during 2025, according to a press release. The Dubai-based real estate developer plans to deliver residential and business projects in Meydan, Sheikh Zayed Road and Safa Park for a gross development value of AED 9.5 bn in 1H. For 2H, the company plans to launch a AED 6 bn 100-storey twin-tower lifestyle development on Sheikh Zayed Road, and a AED 700 mn JVC development.

DEBT-

ECI maintains AA- Fitch Rating: Fitch ratings maintained the UAE’s federal export credit company, Etihad Credit Ins.’s long-term issuer default rating and insurer financial strength rating at 'AA-' with a stable outlook, according to a press release.

FINTECH-

Fintech Galaxy becomes first open banking approved company in Jordan: UAE-born Fintech Galaxy is the first open banking company to receive approval by Jordan’s Central Bank, according to a company statement. The fintech will enter the regulatory sandbox, JoRegBox, to test and deploy open banking services in the Kingdom.

PORTS & MARITIME-

Abu Dhabi’s AD Ports kicked off operations at the Luanda multipurpose port terminal and logistics business in Angola, marking a step in its sub-Saharan Africa expansion, according to a statement.

REFRESHER- Last April, AD Ports secured a 20-year concession to operate and upgrade the terminal, with some USD 250 mn in investments through 2026. The company set up JVs with Angola’s Unicargas and Multiparques, holding 81% in the terminal venture and 90% in the logistics venture.

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