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Adia picks up stake in Indian steel supplier
The Abu Dhabi Investment Authority (Adia) acquired a stake in Indian building materials and steel supplier SG Mart, continuing its recent run of investments across India’s industrial and financial sectors, Zawya reports. The SWF purchased 1.1 mn shares worth INR 730 mn (USD 7.6 mn) through an open-market transaction at INR 650 apiece.
The SG Mart stake comes a day after Adia emerged as a key anchor investor in SBI Funds Management’s USD 1.2 bn IPO. It is also part of Adia’s broader strategy to build diversified exposure to India’s growth story — from infrastructure to renewables, tech, and the industrial supply chains that underpin these sectors.
Revolut can soon offer crypto services in the UAE
Revolut is closer to offering crypto broker-dealer, management and investment, and exchange services in the UAE — clearing the way for UAE customers to eventually buy, sell, and hold crypto through its retail app and standalone exchange, Revolut X, pending final sign-off, it said in a statement. The green light from the Virtual Assets Regulatory Authority comes weeks after Revolut secured its Stored Value Facilities and Retail Payment Services licenses from the Central Bank of the UAE — the last formal hurdle before its consumer launch in the country.
Parkin brings smart paid parking to Arada's Aljada
Dubai-listed Parkin has partnered with master developer Arada to roll out its first smart paid parking system at Aljada, Sharjah's flagship mixed-use megaproject, according to a statement. The system, which went live yesterday, uses automatic number plate recognition technology to provide ticketless parking across designated on-street, off-street, and retail parking areas. Residents will retain parking allocations included in their property agreements, while additional spaces will fall under the new paid parking system.
BACKGROUND- Parkin has been working on broadening its footprint in private developments — in December 2025 it signed a five-year agreement with Damac Properties to manage around 3.6k parking spaces across its portfolio in Dubai and Abu Dhabi.
