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STARTUPS-
Hub71, Yas Investments team up to back UAE startups: Abu Dhabi’s tech startup ecosystem Hub71 has partnered with Dubai investment firm Yas Investments to connect investors with early and growth-stage startups in the UAE, according to a press release. Yas Investments will use Hub71’s Tech Barza platform — a private network connecting family offices with startups — to channel long-term capital, corporate collaboration, and guidance.
HOSPITALITY-
Cristal Group to build hotel in Erbil: Hospitality developer and operator Cristal Group has inked an agreement with Petra Castle Company to build the Grand Cristal Erbil hotel in Iraq’s Kurdistan region, according to a press release. The property is expected to open in 4Q 2028 and will be designed by regional architecture firm Arif and Bintoak, whose project portfolio includes the Burj Khalifa.
The details: The 210-key hotel will offer luxury rooms and suites, food and beverage outlets across two floors, and large events halls. Cristal’s portfolio includes four hotels across the emirates, Saudi Arabia, and Iraq, with a further five new projects under development.
FINANCIAL SERVICES-
#1- Comera Finance receives CBUAE approval for NBFC license: Comera Finance, a subsidiary of Abu Dhabi-based tech company Comera Financial Holding, which is backed by Abu Dhabi’s Royal Group, has secured in-principle approval from the Central Bank of the UAE (CBUAE) to operate as a non-banking financial services company, according to a press release. Comera Finance plans a 3Q 2025 public launch.
The details: The company will offer retail lending, including credit cards, personal loans, mortgages, and vehicle finance, as well as options for SMEs and corporations like letters of credit, bank guarantees, working capital, performance bonds, and supply chain finance. It will also integrate with the UAE’s Aani instant payment platform and will support Jaywan card issuance.
#2- Crypto firm XBTO gets ADGM greenlight for 3A license: Crypto investment firm XBTO has secured full approval for a Financial Services Permission (FSP) under the 3A license category from ADGM’s Financial Services Regulatory Authority (FSRA), according to a press release. The license authorizes XBTO to offer services including custody, investment advising, arranging transactions for institutional clients including family offices and sovereign wealth funds.
About XBTO: XBTO offers institutional strategies across asset management and capital markets. It operates under regulatory oversight in Bermuda and Abu Dhabi, has offices in New York, London, and Paris, and is part of Hub71’s digital assets cohort.
DECARBONIZATION-
Al Fanar Gas + Siemens to develop decarbonization solutions: Al Fanar Gas Group, EHC Investment’s subsidiary, and Siemens Energy agreed to develop clean energy and decarbonization solutions across the UAE, according to a press release. The two firms will collaborate on integrating advanced digital technologies into energy and industrial infrastructure, with a focus on hydrogen and Power-to-X technologies, flare gas capture and utilization, and the electrification of ports and vessels.
ICYMI- Abu Dhabi-based Enterprise Holding Company Investment’s (EHC) energy arm Emirates International Gas acquired 100% of gas services provider Al Fanar Gas Group in March as part of a push to expand EHC’s portfolio.
