SUSTAINABILITY-

#1- Masdar, Adnoc link up with French firms for renewables initiatives: Emirati and French firms inked green partnership agreements at the UAE-France High-Level Business Council in Paris, according to a press release. The breakdown:

  • Masdar, TotalEnergies, and International Holding Company’s investment subsidiary 2PointZero agreed to work on delivering sustainable electricity and modernizing energy systems in Africa, and exploring new solar, wind, and storage projects in Southeast Asia, with the two latter firms also exploring renewable energy projects in India, according to a press release.
  • Adnoc and French waste and water management company Veolia will also cooperate to increase water consumption efficiency through water recycling, consumption minimization, emissions reductions, and establishing a framework targeting water loss reduction.

Background: In February 2024, the UAE and France signed an MoU to launch the UAE-French Bilateral Platform for Climate Investment to boost joint projects and investments in clean energy, especially in decarbonising hard-to-abate industries. The platform includes Masdar, Adnoc, TotalEnergies, Bpifrance, and CMA CGM. Masdar had also signed an agreement with Total to develop renewable energy projects in developing markets in Africa and Central Asia, and an agreement with CMA CGM to provide long-term supply of green alternative fuels with a focus on e-methanol the month prior.

INVESTMENT-

#1- Partizia expands to Middle East with Abu Dhabi office: Real asset investment management company Patrizia is setting up shop in the region with an Abu Dhabi office, after securing approval from the Financial Services Regulatory Authority of Abu Dhabi Global Market, according to a press release. This approval allows the firm to offer investment advice in real estate and infrastructure in the UAE and marks its 26th global location. JC Klein (LinkedIn), head of global client solutions for MENA & Australia and New Zealand was appointed to lead the office.

#2- ASB Capital Launches in Dubai with USD 4.5 bn: Al-Salam Bank-backed asset manager ASB Capital has launched operations at the Dubai International Financial Center, with USD 4.5 bn in assets under management, according to a press release (pdf).

The details: The firm aims to bridge regional and global investment opportunities, offering wealth and asset management services across public and private markets, as well as investment banking. It targets high-net-worth individuals, family offices, and institutional investors seeking exposure to high-growth GCC sectors and international markets.

HEALTHCARE-

#1- EHS partners with Dell: Emirates Health Services (EHS) inked an MoU with Dell Technologies to enhance the UAE’s healthcare infrastructure using advanced AI and cybersecurity technologies, according to a press release. The partnership aims to improve service quality, efficiency, and accessibility across EHS facilities. Key aspects of the agreement include targeted workshops, specialized training, and consulting services to support AI-driven healthcare innovations and strengthen digital security in the sector.

#2- PureHealth rebrands AHS to SEHA CLINICS: ADX-listed healthcare player PureHealth rebranded its subsidiary Ambulatory Healthcare Services (AHS) to Seha Clinics, fully integrating it into the Seha network, according to an Abu Dhabi Media Office statement. Seha Clinics plans to open 10 more clinics by 2025 across Abu Dhabi.

CAPITAL MARKETS-

Kazakhstan Stock Exchange joins ADX’s Tabadul: The Kazakhstan Stock Exchange (Kase) has joined the Abu Dhabi Securities Exchange’s (ADX) Tabadul, making it the sixth stock market to join the platform, according to a press release.The move allows investors in Kazakhstan to trade securities listed in Tabadul, including those on ADX, Bahrain Bourse, and the Muscat Stock Exchange. Tabadul now has eight exchanges and provides access to around 490 listed companies across multiple sectors.

We knew this was coming: ADX agreed to add the Kazakhstan Stock Exchange and the Kase Clearing Centre to ADX’s Tabadul last August.

BUSINESS-

National Foods shuts down Sharjah subsidiary: National Foods DMCC, a Dubai-based subsidiary of Pakistan’s National Foods Limited (NATF), has completed the liquidation and closure of its Sharjah-registered subsidiary National Foods (FZE), according to a disclosure (pdf) filed with Pakistan’s Stock Exchange. The company said the move was part of its restructuring strategy, Business Recorder reports.

ICYM: In January 2024, NATF established its first overseas manufacturing facility in Sharjah, securing a UAE manufacturing license through its Dubai-based subsidiary, National Foods DMCC, which had established FZE.

M&A-

India-based asset manager InCred Group snapped up Dubai boutique financial services firm Arrow Capital for an undisclosed sum, bringing its total assets under management to USD 2 bn, according to a press release. The acquisition, which integrates Arrow Capital into InCred’s global operations, is set to boost InCred’s presence in the MENA region, extending its reach across wealth management, investment banking, and asset management. InCred has offices in Dubai, Singapore and London, despite having only been operational for three years.

What they said: “The Middle East represents one of the fastest-growing wealth markets globally. I am excited to have Rohit lead and grow our existing efforts in the region, with a focus on expanding into new markets, attracting talent, and further broadening and deepening our platform, driving us towards our goal of being the most respected financial services firm in the region,” InCred CEO Srikantan Selvamani said.

FINTECH-

Checkout.com is rolling out Visa Direct Push-to-Card solutions in the UAE, allowing for faster cross-border and domestic transactions, according to a press release. This new option is designed to simplify remittances, peer-to-peer (P2P) payments, and merchant payouts. The UAE, known for its advanced digital payments ecosystem, is seen as a key market for the offering, with Account Funding Transactions helping reduce fraud risks and lower transaction costs.

CRYPTO-

Austria’s Bitpanda launches Mena hub in Dubai: European crypto and digital asset platform Bitpanda has launched its Mena regional office in Dubai, marking its first expansion outside Europe, according to a press release.

The firm’s regional headquarters will be based at the DMCC Crypto Centre, where it aims to build partnerships and integrate its trading infrastructure with local financial institutions. The fintech firm is in the final stages of securing a local financial services provider license, with plans to offer trading infrastructure for banks, fintech firms, and brokerage platforms.

About Bitpanda: Founded in Vienna in 2014, Bitpanda serves 4.5 mn users and offers over 2.8k digital assets, including crypto, stocks, ETFs, and commodities. It already partners with leading European banks and aims to replicate this model in the UAE once it completes regulatory approvals.

TELECOMS-

#1- e& enterprise partners with PayPal: e& enterprise has inked a three-year agreement with PayPal to integrate its digital payment platform into e& enterprise payments gateway, according to a press release. By enabling PayPal integration through e& enterprise’s unified API, the partnership simplifies the adoption process for businesses, which improves their transaction success rates and expands their international reach, the statement says.

#2- du partnership to bring submarine cable system to UAE: State-owned telecom operator du is partnering with submarine cable network infrastructure provider Peace Cable International Network to extend Peace’s open-access submarine cable system to the UAE, according to a press release. The Peace Gulf Extension will improve the connection speed for du’s wholesale and enterprise customers and will integrate them into Peace’s 22k km network across Europe, Asia, and Africa. The project is slated to be operational by 2H 2025.

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