CAPITAL MARKETS-

Lunate launches US T-bill ETF: Abu Dhabi-based alternative investment firm Lunate is launching an exchange-traded fund — Chimera iBoxx US Treasury Bill ETF — tracking outstanding T-bills, it said in a press release. The ETF is set to be listed on the ADX on 20 February, and will give investors access to USD-denominated Treasury bills and quarterly dividends. Investors can subscribe through their brokerage accounts to the fund, which Lunate’s Sherif Salem says reflects “one of the world’s most secure asset classes.”

The details: The ETF tracks outstanding T-bills, with just over half (52%) having a tenor of less than three months, 41% maturing in three to six months, and the remainder between six and twelve months, Lunate said in an emailed response to questions. Investments start from AED 10, offering portfolio diversification for both retail and institutional investors, Lunate said.

ICYMI- Lunate launched ETFs for India, Japan, the UAE, Germany and USD-denominated sukuk instruments across global markets last year, while 2023 saw it set up an ETF that tracks Hong Kong-listed Chinese equities. It also has ETFs tracking stocks in Saudi Arabia, Kuwait, Turkey, and Pakistan. Last week, it unveiled an end-of-service gratuity investment fund for private sector employees.

AVIATION-

GE Aerospace invests USD 10 mn in Dubai and Doha MRO facilities: US-based aircraft engine supplier GE Aerospace is investing USD 10 mn in its two maintenance, repair, and overhaul (MRO) facilities in Dubai and Doha, the company said in a press release (pdf). The investment — spanning 2024 and 2025 — will fund new tooling, infrastructure upgrades, and enhanced training programs, while also increasing headcount by 30%. The move will enable faster servicing of CFM LEAP engines and prepare facilities for the arrival of the GE9X, which will power the Boeing 777X, the company added. This comes as part of a wider USD 1 bn global spending plan aimed at boosting the company’s MRO capabilities.

REFRESHER- Emirates partnered with GE Aerospace to support the airline’s Boeing 777 electrical load management system last October. This 10-year “multi-[mn-USD]” agreement includes providing repairs, stock holding, inventory management, engineering control, technical documentation, obsolescence management, and reliability trend analysis.

Why it matters: More than 20 airlines in the region operate over 750 LEAP-1A and LEAP-1B engines, and the Middle East is the largest market for GE9X engine orders.

TECH-

e& UAE partners with Aleria to launch AI solutions for SMEs: e& has integrated sovereign AI-focused firm Aleria’s AI platform into its offerings to help SMEs optimize operations, decision-making, and costs, according to a press release. The integration focuses on sectors such as healthcare, hospitality, and retail. The new integration provides AI tools for workforce optimization, predictive analysis, and HR operations.

FINANCE-

#1- Professional services firm Grant Thornton UAE opened a new office in Sharjah’s City Gate Tower, according to a press release which identified the northern emirates as a region “driving economic diversification and growth across sectors such as tourism, logistics, and manufacturing.” It also has offices in Abu Dhabi and Dubai.

#2- Aument Capital gets in-principle approval from FSRA: Singapore-based investment services multi-family office Aument Capital received in-principal approval for a Category 4 license from Abu Dhabi Global Market’s (ADGM) Financial Services Regulatory Authority (FSRA), the company said in a press release. The approval enables the firm to offer financial solutions to high-net-worth individuals and entrepreneurial families in the UAE and the MENA region. Aument Capital will now focus on meeting regulatory requirements to secure a full Financial Services Permission license, the statement said.

INVESTMENT-

Finstreet and OneIM partner to explore credit investment products: Finstreet, part of IHC Group’s Sirius International Holding, signed a MoU with alternative investment management firm One Investment Management (OneIM) to explore launching a fund instrument in 1H 2025, according to a press release. They will also evaluate frameworks for creating credit instruments aligned with ADGM guidelines.

MANUFACTURING-

Hansa Green Technology expands production in Hamriyah: UAE-based LED light manufacturer Hansa Green Technology is ramping up production at its Hamriyah Freezone facility, increasing its capacity to over 1 mn LED lighting units annually, the company said in a press release. The move is in response to rising demand across the GCC. The company also plans to expand into Saudi Arabia, with a new manufacturing facility planned for Riyadh in 2025.

Tags: