ADSB secures shareholder approval for Kuwait’s missile construction

ADSB approves AED 6.6 bn missile boats construction contract for Kuwait’s Defense Ministry: Abu Dhabi Ship Building (ADSB), the naval subsidiary of state defense firm Edge Group, received final shareholder approval for a USD 1.8 bn (AED 6.6 bn) contract for the construction of eight Falaj missile boats for Kuwait’s Defense Ministry, according to an ADX disclosure (pdf).

IN CONTEXT- The agreement is part of a wider contract inked by its parent company Edge Group in June, which was initially valued at AED 9 bn, with this latest development coming from ADSB specifically as a construction subcontractor. Edge will serve as the primary contractor, managing design, construction, trials, and integrated logistics support.

Streets of gold: Dubai’s new Gold District

Dubai centralizes gold and jewelry trade with Dubai Gold District: Dubai rolled out a new Gold District dedicated to the emirate’s gold and jewelry trading landscape, according to Dubai Media Office. The district brings together the entire value chain under one unified hub, consisting of 1k local and international retailers, wholesale traders, and investors, serving visitors across international markets. It’ll include a street fully constructed out of gold.

IN CONTEXT- The UAE is the second-largest gold trading hub globally, exporting around USD 53.4 bn worth of gold between 2024 and 2025. Switzerland, the UK, Turkey, Hong Kong, and India were cited as its dominant trading partners. Last October, the Central Bank of the UAE’s gold reserves topped AED 30 bn.

Autonomous fleets move onto the factory floor

Factories are going autonomous. UAE defense conglomerate Edge Group has partnered with Abu Dhabi research arm Technology Innovation Institute (TII), UAE-based autonomous fleet software firm SteerAI, and Emirati robotics manufacturer Micropolis to pilot an autonomous logistics platform designed to automate asset movement across industrial facilities, according to a statement.

How it works: Micropolis will supply unmanned ground vehicles, while SteerAI will handle fleet control and mission planning through its management system. TII will provide AI-driven monitoring and decision support. Edge will integrate the system end-to-end.

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