AI-

du to develop AI-powered Arabic large language model: Emirates Integrated Telecommunications Company (du) will develop the first Arabic large language model (LLM) tailored for the telecoms industry, according to a press release. The telecoms giant is partnering with Microsoft, Nokia, the 6G Technology Research Center at Khalifa University, and the International Telecommunication Union for the project. The LLM will be used in du’s internal operations to improve efficiency and customer support in Arabic. .

Du’s not alone: Plenty of UAE-based players are working on Arabic LLMs — from G42 subsidiary Inception to startups like Tarjama& and CNTXTAI.

We recently wrote about the rise of Arabic LLMs against the backdrop of an increasingly English-centric space and amid mounting competition here.

LOGISTICS-

#1- AD Ports, MBME partner on trade and fintech solutions: UAE-based fintech and digital services provider MBME Group and ADQ-owned AD Ports Group inked a framework agreement to develop digital trade and fintech solutions for the ports operator, according to a press release. The tie-up will focus on developing fintech and trade tech tools for domestic and international use, including solutions to improve tracing goods, digital payments, and whistleblowing systems.
#2- AD Ports also opened an office in Islamabad as it continues to ramp up investments in Pakistan, according to a press release. The move is part of the group’s larger strategy to position Pakistan as both a regional trade and logistics hub and an FDI target, the statement read. It has already inked a 25-year concession agreement to upgrade terminals at Karachi Port’s East Wharf, and just last month launched its Central Asian logistics JV, GulfLink, which will offer new cargo routes that pass through Pakistan.

CRYPTO-

#1- Nomura’s Laser Digital secures Dubai first ever crypto derivatives license: Japanese investment bank Nomura’s digital asset subsidiary Laser Digital obtained a limited license from Dubai’s Virtual Asset Regulatory Authority (Vara), according to a statement. The approval allows it to offer regulated OTC crypto derivatives and makes Laser Digital the first Vara-regulated entity to provide client-facing crypto options services.

The license falls under Vara’s pilot framework, allowing Laser Digital to offer medium-dated options on major cryptocurrencies and “vanilla structures,” rather than complex ones, Coin Desk reports, citing chief product officer at Laser Digital Johannes Woolard.

#2- Inveniam to invest USD 20 mn in Mantra to tokenize UAE assets: Digital middle office for private assets Inveniam Capital Partners is investing USD 20 mn in Hong Kong-based blockchain startup Mantra to tokenize real-world assets in the UAE and the US, according to a press release.

The details: Inveniam will offer the private assets to global decentralized financial markets — using Mantra’s layer 1 blockchain technology — and ensure full data sovereignty. Both companies will operate through the regulatory frameworks of Abu Dhabi Global Market and Vara.

Tokenization has been gaining traction in the UAE property market, after Dubai Land Department launched the pilot phase of its real estate tokenization project in March. Damac Group announced plans in January to tokenize at least USD 1 bn worth of assets in partnership with Mantra, while MAG also partnered with Mantra to tokenize USD 500 mn in real estate assets.

INS.-

Howden Re secures full DFSA license, expands in Dubai: London-based ins. group Howden Re secured a full reins. license from the Dubai Financial Services Authority (DFSA) to operate from the Dubai International Financial Center, it said in a press release. The firm recently made market inroads into Saudi Arabia, South Africa, and India, and the new license will allow it to expand on its current offering of brokering services in Dubai.

REAL ESTATE-

Shamal to build private island in Dubai: Dubai-based investment firm Shamal Holding is building Naïa Island Dubai, a private estate of suites and private villas off Jumeirah’s coastline, according to Dubai Media Office. Early works are underway on the private estate — which will feature 30 suites and 40 villas within the region’s first Cheval Blanc maison, with an expected 2029 opening, state news agency Wam reports.

Tags: