AI-

#1- A new TII, AI71, AWS partnership: Abu Dhabi’s Technology Innovation Institute (TII), the creator of generative large language model (LLM) Falcon, and Abu Dhabi’s Advanced Technology Research Council’s AI71, are collaborating with Amazon Web Services (AWS) to facilitate access to homegrown Falcon and AI71 AI solutions and machine learning services, according to a press release.

The details: The partnership will allow businesses to integrate Falcon into their operations through APIs. Newer Falcon models will also soon be offered on Amazon Bedrock Marketplace, and AI71 will work with AWS to accelerate development of products through rapid prototyping and early access. The collaboration will also bring increased access to privacy through TII’s PetalGuard solution designed to protect data.

One step closer to the global stage: Falcon is deemed to be the UAE’s most competitive AI model yet, recently launching an Arabic version. Still, it struggles to compete with other global open-source AI models backed by bns in funding in the US and China.

#2- Japan’s Avita joins NextGenFDI: Japanese tech firm Avita, specializing in generative AI and avatar solutions, has joined the UAE’s NextGenFDI, Al Khaleej reports.

ICYMI- Other recent partners on the Economy Ministry’s 2022 program to help tech-focused startups launch and scale up in the emirates include Schneider Electric, Qualcomm, DoxAI, Solar Space, Continuous Ventures, TG0, and Zelos. The program offers multiple incentives including facilitating licensing procedures, golden visa issuance, as well as commercial and residential lease incentives.

PAYMENTS-

MoneyHash, Lean team up to accelerate A2A payments across the UAE: Egyptian fintech startup MoneyHash is partnering with Saudi-based fintech infrastructure provider Lean Technologies to bring instant account-to-account (A2A) payments for UAE digital and e-commerce businesses, according to a press release. Merchants across the UAE will be able to seamlessly offer the option of making payments directly to banks at checkout, reducing card processing fees and improving cost efficiency.

REAL ESTATE-

Dubai-based real estate developer TownX acquired a 400k square feet in Arjan for AED 110 mn, Al-Bayan reports. The company, which has an AED 4 bn project portfolio, is planning to build a residential complex with housing units and community-centric facilities in the neighborhood close to Sheikh Mohammed bin Zayed road and Al Khail road.

INFRASTRUCTURE-

Dubai Municipality and Dubai South signed a AED 150 mn agreement to develop a stormwater drainage system in Dubai South’s residential district as part of the Tasreef project, according to the Dubai Media Office. The partnership includes constructing a secondary stormwater tunnel linking Dubai South’s drainage network to Dubai Municipality’s deep tunnel system via Expo Road. The secondary tunnel will help with minimizing flood risk, safeguarding public infrastructure, and improving surface runoff management.

CRYPTO-

Bybit rolls out trading on USDT-based stocks: Dubai-headquartered crypto exchange Bybit introduced direct trading of 78 global stocks using USDT, including Apple, Tesla, Meta, Nvidia and Amazon, according to a press release. Users will be able to trade equities, gold, oil, indices, and forex without needing to convert to fiat currency, and the move makes Bybit the only crypto exchange to offer trading on crypto, traditional assets, and stocks on one platform.

SPACE-

MBRSC, Firefly partner on lunar mission deployment: The Mohammed Bin Rashid Space Centre (MBRSC) signed an agreement with US-based Firefly Aerospace for the American firm to provide the lunar lander need for MBRSC’s Rashid 2 Rover to be deployed on the Emirates Lunar Mission to the moon, according to a Dubai Media Office statement. The rover will be deployed onboard Firefly’s Blue Ghost lander in 2026.

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