TECH-

Gushcloud to establish regional HQ in Abu Dhabi: The Abu Dhabi Investment Office partnered with Singapore-based AI-powered creator management firm Gushcloud International to set up its EMEA and India regional headquarters in Abu Dhabi, according to an Abu Dhabi Media Office statement. The company, which operates across 13 markets, will relocate senior leadership to the emirate, which is expected to become its largest international office.

The partnership will focus on IP development, training programs, and collaborations with local institutions to strengthen digital media expertise. Gushcloud will also launch a Creator Venture Program to fund and support digital content creators. The move is expected to generate over 100 jobs in technology, finance, sales, and legal sectors.

BANKING-

Emirates NBD Pay integrates Visa’s Cybersource: Emirates NBD Pay partnered with Visa to integrate Cybersource, a payment acceptance and risk management platform, into its digital payment services, according to a statement. The move aims to strengthen fraud prevention and compliance for businesses across multiple sectors in the UAE, including retail, hospitality, healthcare, and travel.

What merchants are getting: The platform offers AI-driven security tools designed to safeguard transactions and improve payment efficiency. Its tools also provide advanced risk assessment, while tokenization ensures secure transactions, and Account Funding Transactions facilitate seamless wallet top-ups.

ENERGY-

Enoc Group + RTA explore green hydrogen-powered transport: Emirates National Oil Company (Enoc) and the Dubai Roads and Transport Authority (RTA) have signed an MoU to explore the implementation of green hydrogen-powered mobility solutions in Dubai, according to a press release. Under the partnership, Enoc will supply green hydrogen fuel to power RTA’s hydrogen city buses, and will also provide technical support and refueling data to help assess the feasibility of the initiative.

REMEMBER- Enoc opened its first green hydrogen fuel station in Expo City Dubai in 2023 with Dewa and Toyota, which was the only station in the region offering green hydrogen at the time. It also recently partnered with the Dubai Electricity and Water Authority (Dewa) to source green hydrogen from Dewa’s Mohammed Bin Rashid Al Maktoum Solar Park.

AVIATION-

Ethiopia, Abu Dhabi expand air travel: Etihad Airways entered into a strategic joint venture (JV) with Ethiopian Airlines that aims to boost their connectivity across their respective networks in the Middle East, Africa, and Asia, according to a statement. Under the partnership, Ethiopian Airlines will commence new services from Addis Ababa Bole International Airport (ADD) to Zayed International Airport (AUH) effective 15 July, while Etihad Airways will launch daily flights from AUH to ADD starting 1 October. The airlines have also entered into a codeshare arrangement to further expand their network and aim to discuss further ways to develop cooperation in areas including cargo, training and frequent flyer programs, Etihad CEO Antonoaldo Neves said.

LOGISTICS-

DP World locks in a developer for Congo’s first deep-sea port: DP World has selected Portuguese construction firm Mota-Engil to head the development of the Democratic Republic of Congo’s (DRC) Banana Port, according to a statement. The port — located in Kongo Central — will be DRC’s first and only maritime gateway for containerized cargo that aims to reduce transport costs, facilitate trade, and support local industries. The project is scheduled to be built in two phases — the first phase will include a 600m quay, 30 hectares of storage area, and a handling capacity of 450k TEUs annually, while the second phase is set to expand the quay wall by over 2km.

Who else is involved? The British government’s development finance arm British International Investment (BII) invested some USD 35 mn for the first phase of DP World’s deep-sea container port back in August 2024. The development of the firm will also include several local firms and enterprises.

Background: DP World inked a collaboration agreement with the Congolese government in December 2021 to develop the Banana Port, which is set to boost the second-largest African country’s access to international markets and global supply chains. The port — for which construction kicked off in 2022 — is expected to cut the cost of trade in Congo by 12% and create up to 85k jobs.

NON-BANKING FINANCIAL SERVICES-

Telr secures UAE central bank license to expand digital payments: Payment gateway Telr has received a Retail Payment Services (RPS) License from the Central Bank of the UAE (CBUAE), enabling it to expand merchant acquiring and payment aggregation services in the country, according to a statement.

About Telr: Telr provides customized payment solutions that allow secure transactions and real-time monitoring for businesses and consumers. The company focuses on streamlining e-commerce payments, ensuring seamless, efficient, and secure digital transactions.

ICYMI- Last year, Telr secured preliminary approval for the retail payment services and card schemes license from the CBUAE, paving the way for full approval.

INVESTMENT-

Abu Dhabi-headquartered venture capital firm Delta Wealth Partners will launch an AI-focused fund, the Delta Future Fund, in 2Q 2025, Al Khaleej reports. The fund will target startups working in advanced AI, deep tech, automation, robotics, fintech, and computing.

DEBT-

Fitch upgrades UAB’s Viability Rating: Credit ratings agency Fitch Ratings has upgraded ADX-listed United Arab Bank (UAB)’s Viability Rating (VR) to BB-, up from B+ previously, citing “UAB's improved asset quality and profitability metrics,” Fitch Ratings said on its website. The upgrade comes as the agency sees UAB’s asset quality and profitability being sustainable in the medium term, on the back of the bank’s “loan book clean-up process, and tightening of underwriting standards,” coupled with the UAE’s favorable operating conditions.

Fitch also affirmed UAB’s Long-Term Issuer Default Rating (IDR) at BBB+, with a stable outlook.

DEFENSE-

Edge’s Powertech secures first order for P145i engine from Adasi: Edge Group’s Powertech secured its first order for the P145i combustion engine from military UAV system manufacturer Adasi, Edge said in a press release. Under the agreement, Powertech will supply Adasi with its advanced six-cylinder fuel-injection engine, designed for unmanned aerial vehicles and light aircraft.

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