ENERGY-

Enec inks fuel supply agreement with Framatome: French nuclear reactor firm Framatome will supply fuel assemblies and engineering services for the UAE’s Barakah Nuclear Energy Plant as part of an agreement with Emirates Nuclear Energy Company (Enec), according to a press release. The assemblies will be fabricated at Framatome’s Nuclear Regulatory Commission-licensed facility in the US.

The agreement supports Enec’s fuel supply diversification strategy after the plant became fully operational last year. The company is also in talks to develop projects worldwide, with a focus on the US, the Global South, Europe, and the Philippines.

ENGINEERING-

Singapore’s Quest Global joins NextGen FDI: Singapore-headquartered engineering solutions firm Quest Global is joining the UAE’s NextGen FDI program, state news agency Wam reports. The company will open a series of engineering centers to support businesses in the energy, defense, and advanced manufacturing sectors.

Also on the NextGen FDI roster: Other recent additions to the program include US-based Qualcomm, AI firm DoxAI, American energy data analytics firm Welligence, and global risk and supply chain analytics player Exiger. The NextGen FDI program was launched in 2022 to help global tech-focused startups establish and expand their operations in the UAE.

REAL ESTATE-

Al Hamra launches new AED 3 bn Ras Al Khaimah projects: Ras Al Khaimah-based developer Al Hamra launched two residential communities — Al Hamra Greens and Aila Homes — with a combined investment value of over AED 3 bn, according to a statement. Both are located within the Al Hamra Village master development. Al Hamra Greens includes nearly 1.8k apartments, while Aila Homes features 200 premium three- and four-bedroom townhouses.

TECH-

PGIM, ADGM launch RealAssetX innovation center in Abu Dhabi: PGIM, the investment arm of USD 1.4 tn asset manager Prudential Financial, is partnering with Abu Dhabi Global Market (ADGM) Academy to open a new research and innovation hub, according to a press release. The RealAssetX Abu Dhabi Innovation Center will open this September at the ADGM Academy offices on Al Maryah Island, with backing from the Abu Dhabi Investment Office.

A closer look: The center, jointly run by ADGM and PGIM, will run research programs, accelerators, and competitions focusing on climate resilience technologies, AI-enabled decision-making for asset managers, and blockchain and smart infrastructure.

FINANCE-

ADGM, Azerbaijan to collaborate in financial sector: ADGM’s Financial Services Regulatory Authority (FSRA) signed an MoU with the Central Bank of Azerbaijan to collaborate on fintech, capital markets, and other financial services, according to a press release. The two will exchange information and conduct training sessions and research in the financial sector. The FRSA signed a similar MoU with Hong Kong earlier this year to boost cross-border collaboration.

BUSINESS-

Dubai Chambers opened its first international center, Dubai Hub London, to support UK-based investors looking to establish operations in the emirate, Wam reports. The hub is operated by Al Burj Holding. London was selected for the pilot due to its global financial role and investor demand for access to Dubai. Remember: the UK is expected to see a record net outflow of 16.5k high-net-worth individuals this year, with the UAE forecast to be the top destination for that capital.

Services offered: The center provides access to services from the Dubai Land Department, the Economy and Tourism Department, the Identity and Foreigners Affairs General Directorate, and Dubai Courts — covering property registration, licensing, legal, and administrative processes. More services are expected to be added in future phases.

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