MANUFACTURING-

Ayu Life Sciences to build AED 33 mn medical facility in Jafza: Medical device and cell therapy company Ayu Life Sciences will construct an AED 33 mn 13.5k sqm medical manufacturing facility in Dubai’s Jebel Ali Freezone (Jafza), according to a press release. The first phase of the facility will launch in late 2025, with full operations expected by 2027. The plant will produce wound care products and surgical treatments, including Velgraft, an artificial skin substitute for tissue regeneration, Velvert, a dressing specializing in speeding up healing and stopping infection, and VelNez, a nasal and ear dressing.

ENERGY-

NMDC Energy extended its long-term partnership with Aramco to provide engineering services to the Saudi oil giant, according to a press release. Under the agreement, NMDC Energy will provide services including detailed engineering, material procurement, fabrication, transportation, installation, and pre-commissioning of offshore facilities for projects in Saudi Arabia’s territorial waters.

CRYPTOCURRENCY-

Shariah-compliant virtual assets now available on ruya app via Fuze partnership: Homegrown digital Islamic community bank ruya rolled out a new shariah-compliant virtual asset investment service in partnership with Abu Dhabi-based digital asset infrastructure startup Fuze, making it the first Islamic bank to offer crypto trading through an app, according to a press release. The move taps into the UAE’s fast-growing digital asset space, which saw over USD 30 bn in inflows and 42% y-o-y growth as of June 2024 — nearly quadruple the regional average.

LOGISTICS-

The UAE gets a new vehicle shipping service to Libya: Shipping giant Mediterranean Sea Company (MSC) and AD Ports subsidiary Noatum Maritime launched a new shipping service linking Jebel Ali Port to Libya’s Jiliana Port in Benghazi in just one day, Libya Alhadath TV reports (watch, runtime: 02:40). A dual-fuel cargo vessel, dubbed UGR Al Samha, will be operating the service, with a total area of 59k sqm and carrying capacity exceeding 7k car equivalent units.

AI-

DCAI launches global AI investment hub: Dubai Center for Artificial intelligence (DCAI) partnered with the South African Artificial Intelligence Association and European partners to launch a cross-continental AI trade and investment hub, according to a press release. The initiative looks to connect startups with investors, support business expansion, and strengthen emerging AI ecosystems across Africa, the Middle East, and Europe.

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