ENERGY-

ENEC + Samsung eye nuclear collaboration: The Emirates Nuclear Energy Company (ENEC) and South Korea’s Samsung C&T Corporation signed an MoU to partner on civil nuclear development and international investments, according to a press release. It inked similar agreements with Hyundai and US-based nuclear power firm Westinghouse Electric earlier this week.

Under the MoU, the two firms will look to invest in the US nuclear industry — focusing on building new plants, restarting old ones, engaging in mergers and acquisitions of brownfield plants, and backing nuclear service and equipment companies. They will also explore deploying small modular reactor technology in the UAE, US, and other international markets, look into nuclear-powered hydrogen production in South Korea, and develop a nuclear plant in Romania.

INVESTMENT-

Emirati VC Nuwa Capital participated in a USD 39 mn extension of Riyadh-based meal plan startup Calo’s series B funding round, bringing the total raised through the round to USD 64 mn and surpassing its initial target of USD 50 mn, according to a press release. The extension was led by Aljazira Capital, with participation from Nuwa and other recurring investors including STV, Khwarizmi Ventures, and Al Faisaliah Group, and Oraseya Capital.

Where will the funds go? Calo — which also operates in the UAE, Bahrain, Qatar and Kuwait — plans to use the funds to expand its product line into retail with long-life snacks and frozen meals for retail shelves, CEO Ahmed Alrawi told Bloomberg. Calo also plans to develop an on-demand delivery service, which will require setting up dark kitchens — commercial cooking spaces supported by a logistics network.

More in the works: Calo is expanding its product offerings by introducing new meal segments for athletes and lifestyle customers and launching a new line of healthy consumer packaged goods. The company is also piloting Calo Black, an AI-powered private chef experience to generate personalized menus.

REAL ESTATE-

DMDC launches property investment arm: Dubai-based interior design and construction firm DMDC established a new property investment division — DMDC Estates — with an initial AED 70 mn commitment, according to a press release (pdf). The fully-owned subsidiary will acquire, renovate, and sell premium residential properties across Dubai, beginning with projects in Arabian Ranches, Jumeirah Golf Estates, and Emerald Hills. DMDC plans to invest an additional AED 30 mn into the division later this year, the statement says.

FINANCIAL SERVICES-

CBUAE revokes Al Nahdi Exchange license: The Central Bank of the UAE (CBUAE) canceled Al Nahdi Exchange’s operating license and removed it from the financial institutions register, according to a press release (pdf). The decision follows regulatory examinations that found failures in anti-money laundering and counter-terrorism financing compliance.

AVIATION-

Air Arabia will introduce direct flights from Ras Al Khaimah to two Russian cities starting October 2025, according to a press release. A weekly service to Yekaterinburg begins on 27 October, followed by flights to Kazan on 31 October.

AI-

Hexnode launches Amazon-powered data center in the UAE: Unified endpoint management solution firm Hexnode established a new data center in the UAE, hosted on Amazon Web Services, according to a press release. The infrastructure will support regional data residency requirements while improving performance for Middle Eastern customers in regulated sectors like finance, healthcare, and government.

DISPUTES-

Al Mazaya subsidiary sues over Dubai construction defects: A subsidiary of DFM-listed Kuwaiti firm Al Mazaya Holding filed a lawsuit in Dubai against a contracting company, subcontractors, and a consulting firm, alleging structural defects in buildings they developed, according to a DFM disclosure (pdf).

The details: Al Mazaya is seeking AED 82 mn for repairs, along with 5% interest, and an additional AED 23.2 mn from other defendants. It is also requesting an additional AED 40 mn in punitive damages, citing negligence.

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