INFRASTRUCTURE-

Turner & Townsend tapped for du’s AED 2 bn Dubai data center: State-owned telco giant du appointed UK-based multinational professional services company Turner & Townsend to provide project and cost management services for its first hyperscale data center in Dubai, according to a statement.

Background: Du said it will build an AED 2 bn hyperscale data center in Dubai, with Microsoft as its main tenant back in April,. The 20k sqm facility will be built in phases to expand AI capacity and sovereign cloud solutions as well as meet rising demand.

FINTECH-

CBUAE gives preliminary nod to Ant International: Singapore-based digital payment and fintech provider Ant International received in-principle approval from the Central Bank of the UAE (CBUAE) for two licenses, according to a post on LinkedIn. The first covers stored value facilities, while the second is for retail payment services and card schemes. The approval is a step toward securing full authorization to roll out its payments infrastructure in the country, the firm said.

ICYMI- Ant International signed an MoU with the Abu Dhabi Investment Office last week to collaborate on fintech development, with a focus on supporting Abu Dhabi’s fintech sector.

INS.-

#1- CBUAE suspends Yas Takaful’s license: The Central Bank of the UAE (CBUAE) suspended Yas Takaful’s ins. license, citing failure to comply with its regulatory framework for the ins. sector, according to a press release (pdf). While barred from new operations, the company is still liable for all commitments linked to ins. contracts signed prior to the suspension.

The move comes amid a wider crackdown that has seen the CBUAE revoke licenses from several other ins. firms — including Al Khazna Ins. Company, Galaxy Ins. Broker, and an unnamed foreign motor ins. business — as it looks to tighten control on financial service firms in the UAE.

#2- DFSA gives Mantas the green light: US-based ins. tech provider Mantas secured in-principle approval (IPA) from the Dubai Financial Services Authority (DFSA) for a category 4 license, according to a press release. The IPA covers ins. management and intermediation services and the company will operate as a regulated managing general agent (MGA) once it meets the conditions for a full license.

Mantas? The tech provider uses predictive analytics to tailor cyber ins. products for cloud-reliant businesses, including financial institutions, SaaS firms, and e-commerce platforms.

AVIATION-

SolitAir launches Dubai-Kuwait cargo route: UAE-headquartered cargo airline SolitAir will run a service between Dubai World Central and Kuwait International Airport, according to a press release. The airline tapped Al Hayat International for Air Shipping as its general sales agent in Kuwait.

BACKGROUND- SolitAir already flies to 26 destinations across the Global South, including in the GCC and Africa. The new service comes as Kuwait looks to position itself as a regional logistics hub with its new air cargo city project at Kuwait International Airport.

MANUFACTURING-

UAE-based UniversalRubber Belt Manufacturing has opened a production hub in Dubai to supply rubber belts for the automotive and industrial sectors across the GCC, according to a press release (pdf). The facility is designed to reduce the region’s reliance on imports by locally producing power transmission components with shorter lead times and consistent technical standards.

Universal Rubber Belt? The company’s portfolio includes automotive V-belts and multi-rib and timing belts for pumps, compressors, and heating, ventilation, and airconditioning systems. It also produces high-temperature, oil resistant, and anti-static options.

REAL ESTATE-

Nakheel taps Fibrex for AED 2.6 bn Bay Villas development: Dubai government-backed real estate developer Nakheel awarded Abu Dhabi-based Fibrex Contracting an AED 2.6 bn construction contract for the Bay Villas community on Dubai Islands, according to a pressrelease. The Bay Villas project includes 636 luxury residential developments, including townhouses and beachfront villas, the release said. The project is part of Nakheel’s plan to develop the five man-made islands in its Dubai Islands project, adding 20 km of beachfront to the emirate.

Not Nakheel and Fibrex’s first rodeo: Nakheel previously worked with Fibrex Contracting last year on a construction project in Mohammed Bin Rashed Al Maktoum City.

CRYPTO-

Dubai’s Virtual Assets Regulatory Authority (Vara) fined blockchain infrastructure startup Fuze with an undisclosed sum for violating anti-money laundering rules and governance standards, and for conducting unlicensed virtual asset activity, Khaleej Times reports. The company, licensed in October 2023, also failed to disclose key facts during the probe Vara launched in April.

Fuze’s response: Vara said Fuze accepted the findings and submitted a remediation plan, which will be monitored by an appointed third party. The firm will remain under enhanced supervision but will continue to offer its core digital asset offerings.

REMEMBER- Fuze raised USD 12.2 mn in aSeries A round in May led by Galaxy and e& Capital, with participation from Further Ventures. The homegrown startup enables financial entities to offer regulated digital asset products and operates an OTC trading desk for large-scale crypto transactions. It also recently expanded into payments through FuzePay, and processed over USD 2 bn in digital asset volumes over the past year.

DEBT-

Moody’s reaffirmed Sukoon Ins.’ A2 ins. financial strength rating (IFSR) with a stable outlook, citing its strong market position, diversified profile, and solid capital adequacy, according to a statement. The agency noted Sukoon’s limited exposure to losses from the 2024 Dubai floods compared to peers, crediting effective risk management and reins. policies, and pointed to a five-year average return on capital of 9.5% and a 94.9% combined ratio in 2024.

Sukoon also had a solid 1H: The insurer reported AED 3.1 bn in revenue and AED 192 mn in net income in 1H 2025, with Moody’s pencilling in continued bottom line strength as the firm pushes ahead with business diversification and expansion.

HEALTHCARE-

Response Plus partners with Austability: Emergency services provider Response Plus Medical (RPM) signed an MoU with global defense and security solutions provider Austability to deliver operational support and emergency services in the region, according to a press release (pdf). Austability offers base operational support for defense and national security agencies working in extreme environments, with a presence across Asia, Europe, Africa, and Australia.

The partnership: RPM’s subsidiary, Prometheus Medical International, will collaborate with Austability to extend its services to firms in the international defense and national security sectors, as it seeks to strengthen its market access across multiple regions. RPM currently operates in over 420 medical locations across the UAE, Saudi Arabia, Oman, India, the UK, Switzerland, and Norway.

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