CAPITAL MARKETS-

MultiBank’s business clients can now buy, sell CFD stocks: Financial derivatives broker MultiBank Group has introduced contracts for difference (CFD) on its mobile application and trading platform, it said in a press release. These allow traders to speculate on the price movements of stocks without actually owning them. The group has recently introduced a crypto-exchange and a new interbank trading platform with Mashreq, enabling its clients to buy and sell FX, commodities, indices, cryptocurrencies and now CFD using a single account.

STARTUPS-

#1- Dubai-based mass transit app Swvl is raising USD 2 mn from pre-funded warrants after investors have exercised their right to purchase additional shares in a previous private placement, according to a statement. The purchase price was set at USD 4.79 per share, with investors agreeing to lock up the securities bought for six months and limit transfers to less than 20% every 90 days thereafter. The company plans to use these funds to boost its working capital and general corporate purposes, including expanding its operations in the US.

REMEMBER- This investment acts as an extension to the USD 4.7 mn private placement in November 2024. The company also obtained a sustainable credit facility from HSBC to expand its pipeline of client contracts in 4Q 2024 during the same month. It previously agreed to sell USD 20 mn worth of new shares back in 2022 to an undisclosed institutional investor.

#2- Hub71 welcomes 27 startups to its latest cohort: Abu Dhabi’s global tech ecosystem Hub71 added 27 startups to its 16th cohort, expanding its total supported ventures to 357, it said in a press release. The new batch includes startups across fintech, climate tech, health tech, and digital assets, with 63% headquartered outside the UAE in major tech hubs like the US, the UK, and Germany. These startups have raised USD 145 mn (AED 532 mn) in funding collectively, with an average of USD 4.9 mn (AED 18 mn) per startup.

Notable newcomers: Among the standout entrants is Vivan Therapeutics, a UK-based precision medicine company that uses AI to personalize cancer treatment. Homegrown startups make up around one-third of the cohort. Notable UAE-based additions include Qashio, an award-winning financial management platform that has raised USD 10 mn (AED 36 mn), and Switch Foods, a food-tech company producing sustainable plant-based meats with USD 12.5 mn (AED 45.9 mn) in funding.

BUSINESS-

#1- Seed Group partners with Commenda: Seed Group, the Private Office of Saeed Bin Ahmed Al Maktoum, inked an agreement with US-based compliance management company Commenda to facilitate smoother market entry for global clients and support business expansion and compliance in Dubai and the wider UAE, Khaleej Times reports.

#2- ADDED and GWU collaborate to enhance women’s role in the economy: The Abu Dhabi Department of Economic Development (ADDED) and the General Women’s Union (GWU) have inked an agreement to empower women in the economic sector and increase their participation in business and entrepreneurship, state news agency Wam reports. The partnership includes initiatives to develop female talent, support training programs, and promote women’s involvement in non-traditional industries with low female representation.

Following up: A dedicated committee will be formed to assess progress and increase female representation in major economic activities. The agreement also establishes a direct link between ADDED’s economic license databases and GWU’s women’s progress tracking system. ADDED will also collaborate with GWU to coordinate with regional and international organizations focused on women’s economic empowerment.

OIL AND GAS-

Dragon Oil explores new investments in Iraq: A delegation from Dubai’s Dragon Oil, led by CEO Ali Rashid Al Jarwan, met with Iraq’s Oil Minister Hayan Abdul Ghani to discuss new investments in oil and gas, Wam reports. The talks focused on expanding cooperation in oil field development and exploring high-potential energy projects.

REAL ESTATE-

Ellington, RAK Properties appoint main contractor for AED 310 mn Porto Playa: Dubai-based Ellington Properties and RAK Properties have appointed Nantong Construction Group as the main contractor for Porto Playa, a AED 310 mn waterfront residential development on Hayat Island, AlKhaleej reports. The project will feature studios, apartments, townhouses, and villas, and is set for completion in 4Q 2026.

AVIATION-

SAF One + Airbus partner up to boost SAF: Dubai-based sustainable aviation fuel (SAF) developer SAF One Energy Management Limited (SAF One) inked an MoU with Airbus to advance the adoption of SAF in the aviation industry, according to a press release.

About SAF One: It is a platform for delivering SAF to the global aviation industry to reduce carbon emissions and support the transition to sustainability, according to the company’s website. SAF One does this through end-to-end solutions to cater to the increased demand for SAF through a network of airlines, financiers, and technology and feedstock providers.

COMMODITIES-

Dubai + FAO sign food safety agreement: The Dubai Government and the Food and Agriculture Organization (FAO) have inked an agreement to enhance food safety and reduce food waste and loss, FAO assistant director-general and regional representative for the Near East and North Africa, Abdul Hakim Elwaer told state news agency Wam on the sidelines of the World Government Summit. Through new policies and advanced mechanisms, the initiative aims to ensure sustainable resource management and improve supply chain efficiency.

MANUFACTURING-

Sharjah Ruler Sultan bin Mohammed Al Qasimi issued a decree establishing the Sharjah Design Centre (SDC), state news agency Wam reports. The center, based in the Sharjah Creative Quarter, will focus on prototype design and manufacturing, supporting entrepreneurship, innovation, and professional development. The decree grants the center financial and administrative independence under government ownership.

AND- Al Qasimi issued another decree appointing Hind bint Majid Al Qasimi as director of the SDC, tasked with overseeing the center’s strategic direction, administration, and development, Wam reports.

SUSTAINABILITY-

The Mohamed bin Zayed Water Initiative and the World Bank have signed an MoU to address global water scarcity by accelerating innovation, increasing investment, exploring new financing mechanisms, and fostering cooperation between public and private sectors and international organizations, state news agency Wam reports.

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