TELECOMS-

UAE-Oman subsea cable goes live: State telco du and OmanTelecommunicationCompany’s (Omantel) activated a new 275 km fiber-optic submarine cable linking the DX1 data center in Dubai with ones in Oman’s Barka and Salalah, according to a press release. The Oman Emirates Gateway system includes both terrestrial and subsea routes, and aims to boost cross-border connectivity and cloud access for hyperscalers, content providers, and international carriers.

More cables in the pipeline: The launch comes amid a wider regional push to expand digital and power infrastructure. Key projects underway include the 1.4k km Al Khaleej subsea data cable connecting Bahrain to the UAE and other Gulf states, which is set to go live in 2Q 2026, and an 11k km ICE IV data cable linking southeast Asia to the Gulf, set to be operational in 4Q 2027. A EUR 1 bn UAE-Italy-Albania renewable energy cable is also expected to be up and running within three years, while a USD 6 bn UAE-India electricity export cable is in the works.

INFRASTRUCTURE-

#1- Parsons wins Dubai Metro Blue Line contract: US multinational Parsons Corporation secured a five-year project management consultant contract for Dubai Metro’s Blue Line from Dubai’s Roads and Transport Authority (RTA), according to a press release. Parsons previously worked on the Dubai Metro Red and Green lines, and Route 2020 extension projects.

The details: The firm will provide design review, construction supervision, and commissioning oversight. The AED 20.5 bn, 30 km line spans 14 stations and connects districts like Mirdif and Dubai Silicon Oasis. It has a target capacity of 320k daily passengers per day, and aims to become operational in 2029.

ICYMI- Construction work on the Dubai Blue Metro line started last month, after the RTA awarded the project to a consortium of Turkey’s Mapa and Limak, and China’s CRRC last year.

#2- Abu Dhabi + Plenary Group partner on infrastructure: The Abu Dhabi Projects and Infrastructure Center (ADPIC) inked a MoU with Australian infrastructure investment and development firm Plenary Group to plan, develop, and implement private sector engagement in infrastructure projects within the emirate, according to the Abu Dhabi Media Office.

REMEMBER- ADQ acquired 49% of Plenary last year, and rolled out a co-development and investment platform, Plenary Middle East, for public and social infrastructure prospects in regions across the Middle East and Central Asia.

The bigger picture: Abu Dhabi is looking to sign AED 47 bn worth of infrastructure projects with the private sector in 2H 2025 and is planning to develop AED 450 bn in infrastructure projects over the next five to ten years.

CAPITAL MARKETS-

ASB Capital + Amwal Capital launch MENA equity fund: Al Salam Bank-backed asset manager ASB Capital and Dubai-based asset management firm Amwal Capital Partners launched the ASB MENA Equity Fund, according to a press release. The co-managed fund targets long-term growth through investments in publicly-listed MENA region equities.

The details: The fund aims to outperform the S&P Pan Arab Composite Shariah Equities Index. It will spread exposure over sectors including the finance, industrial, consumer, and healthcare fields, and is open to institutional and individual investors, offering Shariah-compliant structures.

ICYMI- ASB Capital, which entered the market in February, also launched the ASB Global Sukuk Fund with Arqaam Capital to invest in a portfolio of sukuk securities, and partnered with State Street Global Advisors (SSGA) in April to roll out a Shariah-compliant global equity fund.

BANKING-

Ruya partners with UK Shariah-compliant solutions provider: Homegrown digital Islamic community bank ruya has partnered with London-headquartered DDCAP Group, which provides Shariah-compliant intermediary services for the banking and finance sector, for a commodity Murabaha offering, according to a press release.. The bank will use DDCAP’s platform, Ethos AFP, to structure and execute the transactions digitally.

The collaboration comes amid a wider Islamic banking push, after a national strategy to increase Islamic banking assets to AED 2.6 tn was approved in May.

STARTUPS-

UAE’s ICV-certified SMEs gain access to e& UAE’s digital benefits: The Industry and Advanced Technology Ministry inked a MoU with e&’s tech solutions arm e& UAE to provide benefits for In-Country Value (ICV)-certified small and medium enterprises, according to a press release. e& will offer tailored packages to the firms, including discounted rates on internet services, mobile plans, digital payment solutions, and Microsoft productivity tools. The agreement covers over 7k SMEs registered under the National ICV Program.

REFRESHER- The ICV program supports the country’s industrial strategy by redirecting procurement budgets from major companies and government entities into the domestic economy. It also includes ICV certificates which hands firms prioritizing supply chain localization an advantage in tenders and contracts.

AVIATION-

AirEuropa marks Middle East debut: Spanish carrier Air Europa launched a direct route between Abu Dhabi and Madrid through a wet lease arrangement with Etihad Airways, using its own B787-9 aircraft and crew, according to a press release. The aircraft seats 32 business and 307 economy passengers, and the route marks the first time Air Europa has launched operations from the region.

SOUND SMART- A wet lease is when an airline provides an aircraft along with its crew, maintenance, and ins. to another airline for a set period.

DEVELOPMENT-

ADFD inaugurates AED 367 mn Maldives airport project: The Abu Dhabi Fund for Development (ADFD) inaugurated the Maafaru International Airport in the Maldives, an AED 367 mn infrastructure project, Wam reports. The ADFD was involved in the construction of the airport, which includes a 2.8 km runway facility that can accommodate wide-body aircraft including Airbus A330s and Boeing 777s. To date, the ADFD has helped finance AED 1.1 bn worth of development projects in the Maldives.

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