M&A-

The Abu Dhabi Investment Authority (ADIA) has finalized its acquisition of a significant minority stake in Qlik, a US-based data analytics firm, according to a statement. Private equity owner Thoma Bravo, who remains the majority stakeholder, also made a new investment, as did other institutional backers. The move has now received all required regulatory approvals.

ICYMI- Last November saw reports that ADIA would acquire a USD 1 bn stake from a fund owned by Thoma Bravo, valuing the US data firm at around USD 10 bn. The agreement also involved other sovereign wealth and pension funds.

FINANCE-

New Paradyme office brings turnkey solutions to DIFC: US-founded Paradyme SOS has opened an office in the Dubai International Financial Center (DIFC) to provide turnkey operational support for asset and wealth managers, according to a DIFC statement. Licensed to offer non-investment services — including compliance (in partnership with global consultancy Optima Partners), accounting, governance, and administrative support — the firm targets both new and established firms looking to scale up with minimal in-house infrastructure.

Who’s in charge? Optima Partners’ head of UAE Nick Walling (LinkedIn), previously a senior manager for 17 years at the DFSA, will lead the office.

SUSTAINABILITY-

UAE, Egypt partner on decarbonization: The Industry and Advanced Technology Ministry has partnered with Egypt’s Industrial Modernization Center to advance clean industrial projects across the MENA region under the UAE-led Industrial Transition Accelerator (ITA), according to a press release. Bahrain also joined the ITA’s MENA program last November.

The ITA? Launched at COP28 and backed by the UAE, the ITA seeks to cooperate with regional governments and industry leaders to promote emerging green industries and drum up the needed capital to support decarbonization efforts in heavy-emitting sectors. Emsteel, Emirates Global Aluminium, and Arabian Gulf Steel Industries are among the Emirati firms partnering with the ITA.

AVIATION-

#1- Direct flights between Abu Dhabi and Bhubaneswar, the capital of India’s Odisha state, will commence in June 2025, Odisha Chief Minister Mohan Charan Majhi announced in a post on X. India’s low-budget airline IndiaGo will operate three flights a week to Biju Patnaik International Airport, Indian news outlet Sambad English reports.

#2- Dubai-based carrier flydubai will begin daily flights to Peshawar, Pakistan starting 15 May, expanding its network in the country to eight destinations, the airline said in a statement. The airline’s Boeing 737 fleet will operate the route from Terminal 2 at Dubai International Airport to Bacha Khan International Airport.

INFRASTRUCTURE-

Jebel Ali Racecourse to be developed by BIG, ARM: UAE investment firm ARM Holding and architecture studio Bjarke Ingels Group (BIG) have partnered to build a 5 sq km sustainable urban district surrounding Dubai’s Jebel Ali Racecourse, BIG said in a statement.

The details: The plan includes a central park, mixed-use housing, education and hospitality facilities, and civic infrastructure. The financial details were not disclosed but construction is set to begin in early 2026.

ENERGY-

Tecknomak awards contract for Gabon FLNG gas project: UAE-based engineering firm Technomak signed an EPCCI (engineering, procurement, construction, commissioning, and integration) agreement with Dutch company Dixstone for the Cap Lopez floating liquified natural gas (FLNG) project in Gabon, according to a statement. The financial terms were not disclosed.

The details: The FLNG barge, with an annual production capacity of 700k tonnes of LNG and 25k tonnes of LPG, will be built and assembled by Dixstone in Dubai before being deployed to Gabon. The project is expected to come online in 2026, Offshore Energy reports.

STARTUPS-

du, Ignyte partner on startup support: Emirates Integrated Telecommunications Company (du) has partnered with digital startup support platform Ignyte to support Emirati startups and SMEs, according to a press release. The partnership will provide Ignyte memberships at no charge, du Business discounts, and access to mentorship and investor networks.

EVs-

New EV charging station for Abu Dhabi with PPP: Abu Dhabi Mobility has selected operators under new public-private partnership contracts (PPP) for electric vehicle charging infrastructure across the emirate, according to the Abu Dhabi Media Office.

The details: The first phase will see 1k charging stations, under the Charge AD brand, installed in 400 locations across Abu Dhabi Island, Al Ain, and Al Dhafra. More stations will be rolled out to public and private locations annually. The standardized rates will be AED 0.70 per kWh for regular AC chargers and AED 1.20 per kWH for fast DC chargers.

TRADE-

Abu Dhabi, Japan strengthen trade ties: The Abu Dhabi Chamber of Commerce and Industry (ADCCI) and Japan External Trade Organisation (Jetro) have inked an agreement to improve trade relations at the Abu Dhabi-Japan Business Connect Forum in Tokyo, according to a press release. The agreement aims to promote long-term bilateral trade growth, with a focus on innovation, sustainability, and advanced technologies.

FINANCIAL SERVICES-

Hidden Road secures in-principle approval from ADGM: Ripple-backed Hidden RoadPartners has received in-principle approval from ADGM’s Financial Services Regulatory Authority (FSRA) to operate as a regulated financial services firm, according to a press release. Once fully authorized, the firm will provide clearing and prime brokerage services for both traditional and digital assets to institutional investors in the UAE. The firm’s acquisition by fintech player Ripple for USD 1.3 bn is set to be finalized in the coming months.

AI-

#1- G42’s Inception, CPX team up on cybersecurity: AI developer and G42 subsidiary Inception inked an MoU with sister cybersecurity-focused firm CPX to accelerate AI technologies and strengthen cybersecurity capabilities across different industries, state news agency Wam reports.

Who’s doing what? CPX will become the primary provider of cybersecurity solutions for Inception’s AI platforms and Inception will be CPX’s partner in AI product development. The two will also co-develop AI-driven cybersecurity solutions.

#2- IHC’s AI board observer launches: International Holding Company (IHC) has launched Aiden Insight 2.0, an AI-powered board observer developed in partnership with UAE-based Aleria, the company said in a statement. The AI agent delivered its first recommendations during IHC’s 1Q 2025 board meeting, advising on tax planning, IT focus, and risk management.

REMEMBER: IHC first announced plans for Aiden Insight, to be developed by G42 and Microsoft, in last February last year.

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