ENERGY-

Adnoc L&S + NMDC partner on offshore EPC support: Abu Dhabi-based National Marine Dredging Company (NMDC) inked a three-year partnership agreement with Adnoc Logistics and Services (Adnoc L&S) to deliver maritime services to offshore engineering, procurement, and construction (EPC) projects in Abu Dhabi, according to an ADX disclosure (pdf).

More offshore moves- The logistics’ firm’s the parent company’s, Adnoc, recent moves in the offshore segment include a USD 806 mn contract to build three newbuild island rigs as well as a separate USD 1.15 bn contract to operate two jack-up rigs.

INFRASTRUCTURE-

Dubai’s RTA awards AED 104.4 mn road contract to CGC: The Dubai branch of Kuwait-based Combined Group Contracting (CGC) secured an AED 104.4 mn contract from Dubai’s Roads and Transport Authority (RTA) to construct internal roads in Wadi Al Amardi, according to a press release. Road works — including mobilization — are expected to wrap up within 14 months.

GCG’s other work in the UAE: CGC secured a AED 685 mn tender from the UAE’s Energy and Infrastructure Ministry in July for its subsidiary to upgrade a section of Emirates Road, a separate press release read.

TECH-

Indian web hosting company NetForChoice launched its first GCC data center in Dubai, according to a statement (pdf). The facility will deliver hosting, cloud, and cybersecurity services with 99.95% uptime, integrating security operations center and network operations center support. It is designed to handle workloads from enterprise resource planning platforms to AI model training, targeting clients across BFSI, healthcare, and other regulated industries.

BUSINESS-

Greenstone obtains license to operate in DIFC: Dubai-based capital-raising firm GreenstoneCapital Partners secured a Category 4 license from Dubai Financial Services Authority (DFSA) to expand its operations into Dubai International Financial Center (DIFC), according to a press release. The firm will target DIFC-based family offices and ultra-high-net-worth individuals (UHNWIs) through the new license.

The portfolio: The firm has worked with over 1.5k UHNWIs and family offices, as well as 200 institutional investors. Greenstone-represented funds have raised over USD 100 bn across alternative investment sectors including venture capital, private equity, hedge funds, real estate, and infrastructure.

Sovereign secures DIFC license: International corporate and trust services manager Sovereign has obtained a license to operate in the Dubai International Financial Center (DIFC), according to a statement. The license enhances Sovereign’s capacity to provide specialized corporate and compliance solutions, building on its seven existing UAE licenses — including in ADGM, Ras Al Khaimah International Corporate Center, and Dubai Multi Commodities Center.

REGULATION-

DFSA, Hong Kong’s SFC ink cross-border supervision pact: The Dubai Financial Services Authority (DFSA) and Hong Kong’s Securities and Futures Commission (SFC) signed an MoU to strengthen oversight of collective investment scheme managers active in both markets, according to a statement. The agreement establishes a framework for consultation, information exchange, and joint supervision of cross-border investment management and advisory activities.

The two regulators already worked together this year, including on a high-level meeting and a jointly hosted roundtable with asset managers in Hong Kong.

REAL ESTATE-

Taraf to build residential community in Masdar City: Taraf — Yas Holding’s luxury real estate arm — will develop a 1.4 mn sqm residential community in Abu Dhabi’s sustainable urban hub Masdar City through a joint venture, according to a press release. The development will feature a mix of two- to six-bedroom villas and townhouses together with 1k+ single-family homes.

AVIATION-

Budget carrier flydubai partnered with Romanian national carrier Tarom to offer passengers access to 15 destinations on Tarom’s network, according to a press release. The interline agreement will include destinations such as Athens, Madrid, and Paris, simplifying travel itineraries. Flydubai is also set to launch a second Romanian destination, Iași, from 19 September.

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