BANKING-

Mashreq’s digital push in Pakistan now fully live: Our friends at Mashreq launched Mashreq Neo, its digital service offering instant onboarding, no-charge remittances, and app-based money management, in Pakistan, according to a press release.

ICYMI- Mashreq rolled out full commercial operations in Pakistan in September, with plans to roll out Neo and NeoBiz for SMEs, backed by a USD 100 mn investment plan to build out its operations in the country this year.

INVESTMENT-

#1- Dar invests six figures in Austrian proptech Howie: Dar Ventures, the venture capital arm of Dar, invested a EUR six-figure sum in Vienna-based proptech Howie to back the development of an AI platform to manage and analyze data for the architecture, engineering, and construction (AEC) industry, according to a press release.

The next steps: The capital injection will support Howie’s efforts to develop an AI platform that streamlines project data consolidation — including drawings and datasets — and analysis for AEC firms. It will also use the funds for expansion as it aims to roll out its services in Europe and the MENA region in 2027. The startup is set to launch a priced funding round in 1Q 2026.

ICYMI- Earlier this year, Dar Ventures invested GBP 5 mn in Pi Labs’ environmental tech fund, targeting AI-driven startups developing technologies for sustainable construction.

#2- India’s Stride Ventures to expand in GCC: India-based venture debt firm Stride Ventures secured more commitments for its ADGM Fund V, as part of a wider raise that saw it secure about USD 300 mn in institutional commitments toward its three funds in the UAE, India, and the UK, Fariha Ansari Javed, partner, GCC and global capital formation at Stride Ventures, told EnterpriseAM. The funds together have a planned global close of USD 600 mn.

The firm will prioritize deployment in Saudi Arabia and the UAE, before looking at other GCC markets, Javed said.

ICYMI- Stride recently closed its first Abu Dhabi fund, ADGM Fund V, with a target of USD 250 mn as well as a further USD 100 mn green shoe option. At the time, the fund had already signed term sheets worth upwards of USD 50 mn and its pipeline for the rest of the year was set to come in at USD 100 mn.

What is driving deployment? “The India-GCC corridor is evolving into a two-way flow of capital and operational scale, marking a shift from unilateral investment to cross-border expansion,” Javed said. Indian companies are entering the UAE and Saudi Arabia to tap into larger-ticket sizes driven by stronger unit economics and policy support. Gulf-based startups “are leveraging India for technology, talent, and cost-efficient scaling,” while adopting India-style playbook.

#3- Adia + IDC back VC fund: Bengaluru-based VC firm Fireside Ventures has raised INR 22.65 bn (USD 250 mn) for its fourth fund from a mix of global and domestic investors including the Abu Dhabi Investment Authority, Investment Corporation of Dubai, Fidelity International, and US university endowments, Reuters reports.

Background: Founded in 2017, Fireside now manages USD 650 mn across four funds with a portfolio of over 60 consumer brands including Mamaearth, boAt, and the Sleep Company, as per the newswire.

DEBT-

Fitch upgrades Salik to A rating: Fitch Ratings has raised Salik’s issuer default rating from A- to A, maintaining a stable outlook, according to a press release (pdf). Salik’s position as Dubai’s exclusive toll operator, low debt levels, robust liquidity and balance sheet, and close links to the emirate’s expanding economy were cited as reasons for the upgrade. Its concession agreement with Dubai’s Roads and Transport Authority also gives Salik stable long-term cashflow visibility, Fitch said.

INFRASTRUCTURE-

Sharjah ruler Sultan bin Mohammed Al Qasimi approved a AED 90 mn project to upgrade a five-kilometer stretch of Sharjah Ring Road near Etihad Rail Station, optimizing traffic flow along Mleiha Road — where traffic has recently doubled — and expanding University City Bridge., The National reports. The plan is in its final design stages, with construction set to wrap up within a year.

REMEMBER- The emirate also announced last week plans to build of an AED 60 mn bridge next to Martyrs’ Monument to improve traffic flows from Mleiha Road to Sheikh Mohammed bin Zayed Road, and from Sheikh Khalifa Street towards Mleiha Road.

SPACE-

UAE, Kuwait sign MoU on space collaboration: Mohammed Bin Rashid Space Center (MBRSC) and the Kuwait Foundation for the Advancement of Sciences have inked an MoU to strengthen cooperation on space projects, state news agency Wam reports. The agreement came during an MBRSC delegation visit to Kuwait.

Under the agreement, the two entities will collaborate on space exploration, remote sensing, applied research, and satellite development, as well as exchange scientific and technical knowledge. The MoU will also support the development of training programs and workshops for researchers, engineers, and students from both countries.

AVIATION-

Ammroc, Egypt’s AOI partner on aircraft manufacturing + defense: The UAE’s Advanced Military Maintenance, Repair, and Overhaul Center (Ammroc) inked three MoUs with Egypt’s Arab Organization for Industrialization (AOI) to improve cooperation across aircraft components, engine manufacturing, and helicopter system maintenance, according to a pressrelease.

The details: Ammroc will collaborate with three AOI entities — the Aircraft Factory, the Engine Factory and Digital Manufacturing Center, and the Helwan Factory for Advanced Industries — to develop production capabilities and enhance systems for fixed-wing aircraft and autonomous aerial systems, manufacture and treat engine parts, and expand MRO services for helicopter platforms. The agreements also aim to establish training and knowledge transfer programs and set up new production lines.

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