CAPITAL MARKETS-

#1- A new fund in town: Al Salam bank-backed asset management firm ASB Capital, which launched in Dubai in February with USD 4.5 bn in AUM, is teaming up with global investment management firm State Street Global Advisors (SSGA) to launch a shariah-compliant global equity fund, according to a statement. The fund will be benchmarked against the Dow Jones Islamic World Index.

The details: Aimed at institutional investors, family offices, and individuals, the fund will offer access to a diverse range of shariah-compliant stocks from around the world. It will be managed by SSGA’s Active Fundamental Equity team, which oversees USD 18 bn in assets, and will be based in the Dubai International Financial Center (DIFC).

#2- GulfMercantile Exchange (GME) and the Shanghai Futures Exchange (SHFE) inked an MoU to strengthen collaboration between the Middle East and China’s derivatives markets, GME announced in a press release. The agreement covers areas including product cooperation, educational programs for market participants, knowledge sharing on market development, regulation, and infrastructure, research support, and personnel exchange. The agreement comes as the two sides look to establish more regionally relevant commodities benchmarks.

HEALTHCARE-

#1- The Abu Dhabi Health Department (DoH) signed an MoU with Microsoft to co-develop an AI driven “population health intelligence” system on the sidelines of the Abu Dhabi Global Health Week, according to a press release. The initiative seeks to integrate AI into the Abu Dhabi digital healthcare ecosystem to proactively detect health challenges and provide personalized, context-aware recommendations.

REMEMBER- Abu Dhabi’s government previously collaborated with Microsoft to accelerate AI-driven government transformation, whilst the US tech giant also partnered with Digital Dubai on an AI training program for government employees.

#2- Sharjah, Roche partner on healthcare innovation: Sharjah Research, Technology, and Innovation Park (SRTIP) signed an MoU with Roche Diagnostics Middle East (RDME) to develop digital and AI-powered solutions for personalized healthcare, according to a press release (pdf). Initiatives will include innovation hubs and accelerator programs, and make use of Roche’s expertise and SRTIP’s infrastructure.

#3- Burjeel Cancer Institute launched the Burjeel Breast Center to enhance care for women with breast tumors at Burjeel Medical City, according to a press release. In parallel, the Institute launched the UAE’s first specialized cancer pharmacy.

PAYMENTS-

#1- Fuze receives payments license: The Central Bank of the UAE (CBUAE) granted blockchain infrastructure provider Fuze a retail payment services and card schemes license, the firm said in a press release. The company is set to roll out a new suite of payment products for businesses that offer features like fraud detection, merchant tools, and virtual IBANs. Fuze also holds a virtual assets service provider license.

#2- Emirates NBD, Kinexys Liink on cross-border payment security: Emirates NBD has joined Kinexys Liink — a blockchain-based peer-to-peer data sharing network developed by JP Morgan — as part of efforts to make cross-border payments more secure, according to a press release. Through the network’s Confirm application, the bank will offer participating banks and financial institutions account validation services for UAE-based accounts, aiming to reduce payment errors, boost processing efficiency, and cut operational costs.

REAL ESTATE-

#1- Sotheby’s Realty launches HNWI service: Dubai Sotheby’s InternationalRealty is targeting high and ultra-high-net-worth individuals through a new private client service in the region, according to a press release . Headed up by Emmanuel Aymes (LinkedIn), the service will provide expert and tailored guidance on real estate acquisition, management, and investment, to clients in the UAE, UK, and Saudi Arabia — the “golden triangle” of real estate. A financial and legal team will facilitate cross-border transactions and financial solution structuring.

#2- Kuwaiti real estate firm Al Tijaria invested AED 88 bn in Dubai’s real estate sector “to establish or acquire opportunities,” in collaboration with one of its strategic partners, CEO Abdulmutaleb Marafie said in a CNBC Arabia interview (watch, runtime: 2:39).

TRANSPORT-

More electric taxis to launch in Dubai: Dubai Taxi and Al Futtaim Electric Mobility have partnered to deploy 200 all-electric BYD SEAL taxis in Dubai, according to a press release. The move comes as part of Dubai Taxi’s goal to convert its entire fleet to electric vehicles by 2040, and Al Futtaim Automotive’s goal to make hybrid and electric cars account for at least 50% of its UAE sales by 2030.

REMEMBER- UAE’s Al Futtaim Family Office invested an undisclosed amount in Chinese EV giant BYD’s USD 5.6 bn share sale last month, which marked the largest equity follow-on offering in the automotive sector in the past ten years. The investment asserted Al Futtaim as a “strategic partner” of BYD, with a focus on expanding the presence of both entities within the sustainable transportation and advanced technologies markets.

AVIATION-

Etihad Airways to launch new Kenya service: Abu Dhabi-based Etihad Airways is set to double its flights from Abu Dhabi to Nairobi to operate 14 weekly services as of 15 December 2025, according to a statement. The carrier will expand its services to Africa to tap into the continent’s growing market potential, with plans to add additional services to the Seychelles in May as well as Morocco’s Casablanca and South Africa’s Johannesburg in August. The airline will also be launching new services to Egypt’s Al Alamein in September, Ethiopia’s Addis Ababa in October and Algeria’s Algiers and Tunisia’s Tunis in November.

A closer look: Etihad also inked a codeshare agreement with Air Seychelles to collaborate on six flights per week between Abu Dhabi and Mahe, effective from May 2025.

DEFENSE-

Edge’s Caracal to manufacture small arms in India: Edge Group’s small arms manufacturer, Caracal, partnered with the Indian manufacturer ICOMM Tele to develop a small arms manufacturing facility at ICOMM’s Integrated Engineering Facility in Hyderabad, according to a press release.

The details: The facility will produce a range of advanced firearms—including rifles, pistols, and submachine guns—to meet the needs of the Indian Armed Forces, Central Armed Police Forces, Special Forces, State Police, and the Special Protection Group. It will also support Caracal’s global export demands.

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