AI-

Abu Dhabi’s AIQ, Adnoc’s JV with G42 company Presight, will work with global energy tech firm SLB for the rollout of EnergyAi, AIQ’s agentic AI solution, according to a press release. SLB will co-design AI workflows for geology, seismic exploration, and reservoir modeling alongside AIQ, using SLB’s Lumi data and AI platform to integrate the solution into Adnoc’s subsurface operations. A scalable version of EnergyAi — including multiple AI agents for subsurface tasks — is set for deployment in 4Q 2025.

It’s already helping deliver performance gains: Initial testing — using 15% of Adnoc’s data and focusing on two fields — saw a seismic AI agent deliver a 10x speed gain in seismic interpretation and a 70% improvement in precision.

REMEMBER- Adnoc is set to deploy EnergyAi as part of a USD 340 mn three-year agreement inked in March with AIQ to deploy AI solutions across Adnoc’s supply chain.

DEBT-

Capital Intelligence Ratings kept National Bank of Fujairah’s long-term foreign currency rating at A- and short-term rating at A2, both with a stable outlook, according to a statement. The bank’s standalone rating and core financial strength remain at bbb, while its extraordinary support level is rated as high.

LOGISTICS-

DP World inaugurated its first multi-customer warehouse in Brazil’s Cajamar, according to a statement. The facility — spanning 100k sqm and nestled some 40 km from São Paulo — has direct access to key national highways, granting businesses access to trade hubs across the country. The warehouse will offer inbound and outbound logistics, inventory management, assembly, labeling, packing, cross-docking, and fulfillment services.

Expanding its Latin American footprint: The Dubai-based logistics giant already has ongoing operations at Brazil’s Santos Port, Peru’s Callao Port, Ecuador’s Posorja Port, and Chile’s San Antonio. The firm also inked a USD 760 mn MoU in May to expand the Dominican Republic’s Caucedo Port.

REAL ESTATE-

Dubai-based developer TownX has named Ocean Stone as the main contractor for its AED 662 mn Ashley Hills project in Arjan, spanning 400k sq ft of sellable area, it stated in a press release. The 616-unit project will be located near Sheikh Mohammed Bin Zayed Road and Al Khail Road, with expressions of interest already open for buyers. The developer currently has an AED 4 bn portfolio under its belt.

MANUFACTURING-

Italy’s G&G sets up shop in Rakez: Novara-based composite materials manufacturer G&G Compositi is leasing a 10k sq ft facility — slated to be operational in September — at Al Hamra Industrial Area in Ras Al Khaimah Economic Zone (Rakez) to serve as its hub in the GCC region, as per a press release. The family-owned enterprise targets the hypercar and high-end design markets to produce components for supercars, marine, defense, aerospace, and luxury interiors.

FINTECH-

Adio + Ant International to boost Abu Dhabi’s fintech ecosystem: The Abu Dhabi Investment Office (Adio) inked an MoU with Singapore-based Ant International, a global digital payment and fintech provider, to expand the emirate’s fintech sector and improve financial connectivity with key world markets, according to Abu Dhabi Media Office.

STARTUPS-

A new bridge for UAE-Canada startups: Dubai’s iAccel Gulf Business Incubator (iAccel GBI), launched under Dubai SME, has signed an MoU with the Toronto Business Development Center (TBDC), one of Toronto’s oldest incubators, to support startups expanding between the UAE and Canada, according to a press release. The “Toronto-UAE Innovation Bridge” creates a two-way inroad for market entry, funding access, and mentorship as well as access to local experts in both markets, the release added.

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