BANKING-

Mashreq taps Goldman Sachs for new investment services: Our friends at Mashreq have partnered with Goldman Sachs Asset Management to offer discretionary portfolio services to its wealth management clients in the UAE, according to a statement (pdf). Effective as of this month, the partnership gives clients access to a range of investment strategies and risk options managed by the American multinational, and comes as Mashreq looks to expand its offering and further institutionalize its investment platform, the statement read.

TECH-

The UAE is teaming up with Google Cloud to establish a Global Cyber Security Center of Excellence in Abu Dhabi, according to the Abu Dhabi Media Office. In partnership with Mandiant, part of Google Cloud, the center will offer hands-on training using real-world cyberattack simulations.

PLUS-: Google Cloud will launch a three-month accelerator program for 25 startups from Abu Dhabi’s tech startup ecosystem, Hub71, to help them scale up their operations and improve their business models. All startups in Hub71’s ecosystem will also be able to access up to USD 300k in Google Cloud credits.

AVIATION-

Bombardier to set up MRO center in Abu Dhabi: Canadian aviation firm Bombardier is set to build a new maintenance, repair, and overhaul (MRO) service facility at Abu Dhabi’s Al Bateen Executive Airport, according to a statement. Construction is slated to begin in 1H 2025 and is forecasted to be completed and operational by 2H 2026. The facility will offer MRO services to Bombardier business aircraft and include a 55k sqft hangar as well as a parts depot. It will be tailored to service heavy maintenance, aircraft modifications, and aircraft on ground capabilities.The hub is set to generate some 100 aerospace jobs.

FINANCE-

#1- Singapore’s RV Capital to open Dubai office: Singapore-based macro hedge fund RVCapital Management, which has a portfolio of USD 1 bn in assets under management, will set up shop in the Dubai International Financial Center (DIFC), Bloomberg reports. The firm has appointed Aziz Faqir (Linkedin) as CEO of its Dubai operations from early June, following his tenure leading London-based Carrhae Capital.

#2- Swiss wealth management tech firm Avaloq has opened a regional office in DIFC, expanding its private banking and wealth management services in the Gulf, according to a press release.

LOGISTICS-

DP World inaugurated a Freetrade Warehousing Zone (FTWZ) at Mumbai’s Nhava Sheva Business Park, Wam reports. The project is part of the company’s USD 200 mn investment in three FTWZs across India. These zones are integrated with the UAE’s Jebel Ali Free Zone (JAFZA), enhancing cargo movement and boosting trade connectivity between India and the UAE.

MEDIA-

Multiply Group and SMC team up on AdTech investments: Abu Dhabi-based Multiply Group signed an MoU with Saudi Media Company (SMC) to explore potential investments in advertising technology, according to an ADX disclosure (pdf). The partnership outlines plans for joint R&D in AI-driven advertising technologies, with a focus on strengthening digital capabilities and expanding into high-growth markets across the MENA region. It also includes collaboration across sectors that support the media and advertising landscape.

Multiply is doubling down on investments: This follows another partnership inked this month with Saudi advertising firm Alarabia Outdoor Advertising to set up an investment entity dedicated to investing in the global out-of-home advertising sector.

DEFENSE-

Edge teams up with 4iG to level up its UAS operations: Edge partnered with Hungary’s 4iG Space and Defence Technologies to co-develop unmanned aerial systems (UAS) and space observation technologies, according to a press release. The collaboration will focus on joint research and development in key areas, including UAS, counter-UAS, and space operations.

E-COMMERCE-

Digital payments services provider Checkout.com announced plans to expand its card issuing capabilities in the UAE, with a target launch by 2026, pending regulatory approval, according to a press release. This move will enable businesses to issue branded physical or virtual cards, manage rewards, and simplify B2B payouts. It marks the first such investment by a global digital payments provider in the region, according to the company.

BUSINESS-

UAE Chambers partners with its Spanish counterpart to boost investments: The Federation of UAE Chambers of Commerce and Industry signed an agreement with the Spanish Chamber of Commerce, Industry, Services, and Navigation to establish a UAE-Spanish Business Council, Wam reports. The new council aims to strengthen bilateral cooperation between the two entities and explore potential investments, the Secretary-General of the Federation of UAE Chambers Hamid Mohammed bin Salem said.

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