ADIB is taking a slice of the global healthcare trade

ADIB Capital, Abu Dhabi Islamic Bank’s (ADIB) DIFC-based asset management arm, launched a new global healthcare equities fund that gives investors exposure to pharma, biotech, and medical devices through a shariah-compliant structure, according to a press release. ADIB is working with BlackRock to manage the fund.

A closer look: The fund will be structured as a public open-ended investment company (OEIC) that will choose its plays based on a firm’s fundamentals, opting for more firms that it thinks are currently undervalued by the market.

REMEMBER- ADIB is building on its recent expansion into shariah-compliant investment vehicles. It launched a logistics-focused shariah-compliant fund in January 2025, followed by a fund targeting short-term trade transactions in the US and Europe in August.

Supply chain support is coming to Abu Dhabi

Abu Dhabi launches Adeed to strengthen supply chains: Abu Dhabi’s logistics and supply chain operator 7X partnered with government entities to launch the Abu Dhabi Economic and Enterprise Development supply chain support platform (Adeed), according to Abu Dhabi Media Office. The UAE has recently been rolling out measures across a range of sectors to mitigate the effects of the regional war, offering support to banking, tourism and hospitality, and customs operations.

The plan: Adeed uses AI to pinpoint supply chain gaps and connect companies with the right suppliers to ensure the continuity of domestic and international trade and logistics flows. It’ll also monitor operations to ensure compliance with set standards.

Who’s in? The platform brings together entities like the Abu Dhabi Investment Office, the Abu Dhabi Chamber of Commerce and Industry, and Abu Dhabi Customs.

Borouge International is officially here

Adnoc’s global investment arm XRG and Austria’s OMV have launched Borouge International after completing transactions to push their USD 60 bn polyolefins merger across the finish line, according to a press release.

REFRESHER- Under an agreement made last year, the new entity combines Adnoc’s plastic unit Borouge, Austria-based oil and gas player OMV’s Borealis, and Canada-based Nova Chemicals under a single brand. Borouge International, which will be headquartered in Austria with a regional base in the UAE, is set to be the world’s leading pure-play polyolefins company.

The two have been locking this down over the past week. They finalized the merger last week after an ownership reshuffle that saw Borouge International pick up Adnoc’s share in Borouge, taking a 90% controlling stake ahead of the wider merger. Adnoc and OMV recently said they will start operating and marketing volumes from the new Borouge 4 complex, saving funds through an at-cost usage fee structure.

PB Fintech funnels AED 12 mn into UAE arm

India’s PB Fintech invested around AED 12 mn (INR 314 mn) in its UAE arm Genesis Group through its wholly-owned subsidiary Icall Support Services, according to a regulatory filing (pdf). The transaction was completed on 31 March using IPO proceeds allocated for overseas expansion.

Genesis? Genesis Group is the holding company for PolicyBazaar Middle East Ins. Brokers, a Dubai-based licensed broker offering life and general ins. products. The transaction involved the purchase of 15 shares at roughly AED 800k apiece and was structured as a related-party agreement conducted at arm’s length.

estaie secures seven-figure pre-seed for regional expansion

Extended-travel stay platform estaie secures seven-figure pre-seed funding: UAE-based long-term accommodation proptech estaie secured seven figures in pre-seed funding, backed by PlusVC and Orbit Ventures, with participation from Falak Angels, Value Makers Studio (VMS), and Vasil Zdravkov, according to a press release (pdf). The capital will be used to support the proptech’s regional expansion, with a focus on Saudi Arabia.

About the platform: Founded in 2025 by CEO Osama Shawky (LinkedIn) and CTO Nimit Solanki (LinkedIn), the platform targets bookings from 30 to 365 days. The company has signed with over 400 hotels in 15 cities around the world.

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