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Julphar wraps up UAE pharmacy divestment
Pharma manufacturer Julphar completed the sale of its Health First Pharmacy chain in the UAE to Al Batha Group — one of two transactions it had disclosed earlier last year, according to a press release (pdf). The second sale, involving Scientific Pharmacy’s network and distribution business in Oman, also to the Emirati conglomerate, remains in progress pending regulatory and government approvals.
BACKGROUND- Julphar disclosed in September 2025 plans to divest the assets to Al Batha as part of a strategy to exit non-core assets and focus on specialty pharma operations across the MENA region.
Gifting startups are having a moment
Investors have been keen as of late on gifting platforms, with UAE-founded gifting startup Zuvees the latest to see fresh inflows, securing USD 1.6 mn from India-based IvyCap Ventures as part of its ongoing Series A round, Waya reports. The funding round brings its total funding to around USD 3.3 mn as the company targets a final close of between USD 6.6 mn and USD 8.8 mn.
Zuvees? Founded in 2024, Zuvees operates a direct-to-consumer gifting platform that uses AI to match customers with curated gift options. The funding will be used to boost the e-commerce startup’s AI capabilities, upgrade its logistics infrastructure, and expand its footprint across major international markets.
That adds to a growing list: Last month, UAE-based gifting startup Udora secured USD 10 mn in private funding and said it would use the proceeds to enter Saudi Arabia. Back in October, local premium gifting platform Cado also raised USD 4.5 mn in a pre-seed funding round.
Vara clears another crypto player
Another custody player is nearing a Dubai license. Chainberg, the institutional custody arm of digital asset infrastructure firm Liminal, has received in-principle approval from Dubai’s Virtual Assets Regulatory Authority (Vara), putting it one step away from a full virtual asset service provider license, according to a statement.
Why it matters: Once licensed, Chainberg will be able to offer digital-asset custody services to institutional clients from Dubai, adding another regulated player to the emirate's growing crypto infrastructure stack. The move follows recent Vara approvals for Daman Virtual Asset Brokerage and Bahrain’s ARP Digital as Dubai continues to expand its regulated virtual-assets ecosystem.
SCC picks the UAE
A European tech player is setting up shop in the UAE. UK-based SCC, Europe’s largest privately owned technology services provider, is opening its regional headquarters in the UAE as it expands into the Middle East, according to a statement. The company provides technology infrastructure and integration services and plans to use the UAE as a base for serving clients across the region.
What's next? SCC will focus on cloud infrastructure, AI, cybersecurity, and digital workplace services for government and enterprise clients. The regional business will be led by CEO Daniel Valle (LinkedIn), with headcount set to exceed 50 employees by the end of 2026 as the company builds out its Middle East presence.
