AI-

Kuwait’s KIA joins MGX’s AI infrastructure fund: The Kuwait InvestmentAuthority (KIA) has joined the AI Infrastructure Partnership (AIP) as its first non-founding financial anchor investor, according to the Abu Dhabi Media Office.

REFRESHER- The AI Infrastructure Partnership is an AI infrastructure fund founded by Abu Dhabi-based investment firm MGX, BlackRock, Global Infrastructure Partners, and Microsoft, and also includes Nvidia and Elon Musk’s xAI among its partners. The group is looking to raise USD 30 bn from investors and deploy up to USD 100 bn, including from debt, into AI data centers and related infrastructure systems.

AVIATION-

#1- Aerospace MRO provider DTX launches: Dubai-based commercial maintenance, repair, and operation (MRO) provider DTX Group has launched its operations, according to a DTX statement. The group currently operates a parts trading business in the USA and two MRO facilities in Brazil. DTX is on track to roll out a new regional MRO facility 3Q 2025, with additional expansion targeted in Africa and Europe.

Background: DTX Group, headed up by Hussein Lookmanjee, was formerly the international arm of Drayton Aerospace. Lookmanjee is now the sole owner of DTX Group, having fully divested from Drayton after British private equity firm Lion Capital bought his remaining equity, and Drayton Aerospace’s entities outside of China fall under DTX’s remit now.

#2- Emirates and Air China agreed to cooperate more across their respective cargo operations as well as develop a mutual codeshare on select routes, building on the pair's existing interline agreement, according to a statement. The agreement — signed on the sidelines of the World Air Transport Summit — aims to streamline travel links between the two countries as the airlines seek to evaluate how to coordinate flight schedules as well as adjust minimum connecting times.

REMEMBER- Emirates is kicking off flights to Shenzhen in mid-2025, as part of plans to increase its air traffic to China by 40% on the back of rising demand, with plans to also launch daily non-stop flights to Hangzhou effective 30 July. The airline already travels to Beijing, Guangzhou and Shanghai.

MANUFACTURING-

Wasco Energy opens modular fabrication yard in Jafza: Malaysia-listed Wasco Berhad’s energy services arm, Wasco Energy, has opened a new 25k sqm fabrication yard in Dubai’s Jebel Ali Freezone (Jafza) to expand its modular engineering and infrastructure capabilities across the Middle East, according to a statement.

The details: The facility has an annual production capacity of 10k tons and will produce pre-assembled units and rack modules, gas compressor packages, substations, and e-houses for onshore and offshore projects. The site complements Wasco’s existing fabrication hubs in Indonesia and Malaysia.

ENTERTAINMENT-

UAE grants music rights license to Music Nation: The Economy Ministry has issued its second collective music management license to music rights management organization Music Nation, authorizing it to manage music rights distribution and enforce compliance nationwide, Wam reports. The license aligns with a push to strengthen the UAE’s creative economy and comes as Dubai recently maintained its top position as a greenfield FDI destination for creative projects. The ministry granted its first license to the Emirates Music Rights Association in April.

WEALTH MANAGEMENT-

India’s Spark Global PWM expands to DIFC: Indian private wealth manager Spark Capital PMW has launched operations in the Dubai International Financial Center (DIFC) via its subsidiary Spark Global PWM Private Limited, according to a press release. The move aims to deliver wealth management solutions to a wider range of clientele in the region and the office will be the headquarters of its regional operations.

The move comes as part of a wider expansion drive, with the firm’s assets under management and advisory surging from USD 360.2 mn in April 2023 to USD 3.6 bn in May 2025. Its team also was bolstered from 60 professionals to 400 strong.

FINTECH-

Dubai’s Mawarid Finance + Bahraini AFS team up in credit card services: Dubai-based Mawarid Finance launched an application in partnership with Bahraini Arab Financial Services (AFS) on a new digital payment solutions application, according to an AFS statement. The move makes it easier to issue credit cards, track transactions, and manage accounts in real time via a phone application, eliminating the need for bank visits.

REAL ESTATE-

Kuwait’s Aqarat taps Darwish Engineering for Sharjah residential project: Kuwait Real Estate Company (Aqarat), in partnership with IFA Hotels and Resorts, awarded an AED 198 mn infrastructure contract to UAE-based Darwish Engineering for its AED 3.5 bn Tay Hills residential project in Sharjah, according to a press release.

More on Al Tay Hills: The three-phase development spans 6 mn sq ft in the Al Tay area on the Sharjah-Dubai border. It will feature 1.1k villas and townhouses, three community malls, a 2.5-km green spine, and 11 km of walking and cycling paths. Aqarat subsidiary Nakheel Village Real Estate Company is overseeing execution, and the first phase is slated for handover in 1Q 2028.

CRYPTO-

#1- Emirates Coin Investment (EmCoin) can now provide regulated virtual asset services after it was licensed by the Securities and Commodities Authority (SCA), according to a press release. The move makes it the first UAE firm licensed by the SCA to offer the services.

More in the pipeline: EmCoin is set to launch an investment platform that will integrate digital assets and traditional finance into a single, regulated mobile application, allowing users to trade virtual assets, invest in equities and commodities, and access managed portfolios. It is also collaborating with the SCA to introduce regulated Initial Coin Offerings, which will open up new avenues for raising capital and potential investments.

#2- Ripple’s stablecoin receives DFSA approval: Blockchain firm Ripple’s RLUSD stablecoin has received the stamp of approval from the Dubai Financial Services Authority (DFSA) for use within the Dubai International Financial Center effective immediately, according to a DFSA notice. RLUSD is targeted towards enterprises rather than retail users, and aims to improve the speed and efficiency of cross-border payments.

The ripple effect: The move comes as Ripple continues to expand its footprint, having received approval from the DFSA to provide regulated crypto payments and services in March. It also recently partnered with UAE-based digital bank Zand Bank and fintech Mamo to run blockchain-settled global transfers, and teamed up with Ctrl Alt to support Dubai Land Department’s real estate tokenization project, the statement read.

BANKING-

The Central Bank of the UAE (CBUAE) and the Central Bank of Kenya (CBK) signed two MoUs to reduce reliance on foreign currencies in bilateral trade, speed up settlements, and lower transaction costs, according to a press release (pdf).

The details: The first MoU will see the two cooperate to promote the use of local currencies in cross-border commercial transactions. The second MoU focuses on boosting cooperation in payment infrastructure, including instant payment systems and national card switches. Both agreements aim to pave the way for more bilateral investment and commercial activity.

LOGISTICS-

#1- Emirates SkyCargo launches dedicated engine transport solution: Emirates SkyCargo has introduced Aircraft Engines, a new cargo product tailored for the transport of high-value, time-sensitive aviation parts, according to a company statement. The offering provides specialist handling, certified loadmasters, shock-absorbing dollies, priority loading, and real-time tracking via Emirates’ control tower. The service is part of the carrier’s newly launched Aerospace and Engineering vertical, targeting customers in the aviation, defence, and space sectors.

#2- AD Ports Group has opened the first phase of the Tbilisi Intermodal Hub in Georgia, the company said in a press release. The first phase is a dry port and inland container depot to handle cargo delivered by rail and truck to the hub — located between Georgia’s key Black Sea ports and major land crossings with Armenia and Azerbaijan, and set to be both a domestic logistics platform and a regional gateway.

The next steps: Phases two and three will see the Tbilisi Intermodal Hub expand the cargo it handles and process to include containerized vehicles and break-bulk commodities like minerals, fertilizers, and ores, supporting trade flows between China, the South Caucasus, and Europe.

REMEMBER-AD Ports acquired a 60% stake in Georgia’s Tbilisi Dry Port to develop the Tbilisi Intermodal Hub in last March. The remaining 40% is owned by and 40% by Inveco LLC and Wilhelmsen. The hub is designed to scale up capacity from 96k TEUs today to 200k TEUs by 2026, and will feature a container freight station, warehouses, and an additional railway.

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