LOGISTICS-

Keeta launches in Sharjah: Keeta, the food delivery arm of Chinese consumer service tech giant Meituan, has expanded into Sharjah, according to a press release. The move follows on from its already-established presence in Dubai and Abu Dhabi.

ICYMI- Keeta plans to invest heavily in the UAE: Last month the firm said it plans to deploy hundreds of mns of USD in the country over the next 3-5 years as part of an MoU with the Investment Ministry. The agreement will see Keeta establish its UAE headquarters, introduce advanced last-mile logistics solutions including drones and autonomous vehicles, and onboard 5k UAE-based SMEs to its platform.

INFRASTRUCTURE-

Sharjah to build AED 60 mn bridge: Sharjah’s ruler Sultan bin Mohammed Al Qasimi gave the green light on a project to build an AED 60 mn bridge near the Martyrs Monument to ease traffic flows from Mleiha Road, Wam reports. The project will create a continuous, non-stop route for motorists travelling from Mleiha Road to Sheikh Mohammed bin Zayed Road, and for those heading from Sheikh Khalifa Street back toward Mleiha Road.

DEBT-

Fitch affirms Dubai Ins. at A with a stable outlook: Fitch Ratings has affirmed Dubai Ins. Company’s (DIN) Insurer Financial Strength rating at A with a stable outlook, according to a report. The firm cited DIN’s established franchise in the UAE market, strong capital levels, robust financial performance, and diversified income from personal, commercial, and government business lines as reasons for the rating.

Looking ahead: Fitch said the rating could decrease if DIN were to lose major government contracts or if its capitalization values decline. Conversely, an expanded presence in the UAE market could boost its rating.

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