ENERGY-

Emirates National Oil Company’s subsidiary Dragon Oil has inked multiple agreements with players in Iraq’s oil sector to expand its presence in the country, according to a statement. The agreements include an MoU with China’s Anton Oilfield Services and Iraq’s Nohadh Al-Benaa for General Trading & Oilfield Contracting Services.

That’s not all: The company also inked an MoU with Sohol Al-Salam Oil Services, part of Iraq’s Al-Amal Group, to explore projects in oilfield development and services last month, Wam reported. The cooperation covers technical services, engineering, procurement, construction, and operational support, with scope for joint investments in Iraq’s oil and gas sector.

REMEMBER- Dragon Oil has been in discussions with the governments of Egypt, Iraq, and Turkmenistan to begin operating new oil fields within four years as a part of the company’s strategy to grow its daily production to 300k bbl / d by 2026 and reach 450k bbl/d by 2029.

AVIATION-

The UAE and Egypt inked five MoUs to boost collaboration in the aviation sector, the Egyptian cabinet said in a statement. Here’s a rundown of the agreements:

  • Abu Dhabi’s Royal Jet signed an MoU with Egyptian Airports to develop private aviation facilities at Egypt’s New Administrative Capital Airport, along with local private aviation training;
  • Abu Dhabi-based MRO firm Global Aerospace Logistics signed an MoU with EgyptAir Maintenance and Engineering to enhance logistics services and supply spare parts for airports and airlines. The two will also look to establish a regional spare parts hub in Egypt to serve local, regional, and international markets;
  • Abu Dhabi-based cargo carrier Maximus Air Cargo inked an MoU with EgyptAir Cargo to launch new cargo routes and develop a new integrated logistics system;
  • Etihad Engineering inked an MoU with EgyptAir Maintenance and Engineering to enhance technical cooperation, boost knowledge transfer, and improve the regional MRO supply chain;
  • EgyptAir Training Academy and Abu Dhabi Aviation Training Center also agreed to develop technical training programs for EgyptAir staff.

INS.-

Fitch upgrades Union Ins.: Fitch Ratings raised Union Ins.’s Insurer Financial Strength rating to BBB+ from BBB with a stable outlook, citing stronger profitability and solvency, according to an ADX disclosure (pdf). Union posted a bottom line of AED 23 mn in 1H 2025, up from AED 13 mn a year earlier, helped by exiting unprofitable business lines in 2023.

REMEMBER- Union trimmed its capital by 30.5% to AED 230 mn in June to erase AED 142.7 mn in accumulated losses. The move involved canceling 100.94 mn shares, with part of the losses offset through reserves.

AUTOMOTIVE-

Al Habtoor + India’s JBM to roll out e-buses: UAE automotive distributor Al Habtoor Motors is partnering with India’s JBM Electric Vehicles to introduce next-generation electric buses to the UAE market, according to a press release. The electric buses are set to be used on urban city routes, school and staff transport, and intercity travel. Al Habtoor Motors will serve as the primary importer and distributor of JBM buses.

Not the first green bus investment: Dubai’s Roads and Transport Authority inked an agreement with Swaidan Trading Co. and China’s Zhongton Bus Co. for green buses, while Abu Dhabi bus routes are set to integrate electric and hydrogen-powered buses.

REAL ESTATE-

Bhatia’s Sol to build AED 2.2. Bn project in Dubai: Sol Properties — Bhatia Group’s premier real estate arm — has launched Sol Luxe, an AED 2.2 bn mixed-use development on Dubai’s Sheikh Zayed Road, according to a press release. Construction on the 280-meter high, 62-floor project is already underway, with the project slated for handover in 4Q 2028.

CONSTRUCTION-

Mulk International + Egypt’s Marses set up robotics JV for construction: UAE-based Mulk Holdings’ subsidiary, Mulk International, launched a robotics joint venture — Mulk Marses Robotics — with Egyptian AI and robotics company Marses, Trade Arabia reports. The companies plan to launch factories in the UAE, the US, and Europe to produce high-efficiency tech, including robotically manufactured wall panels, pods, and modular housing systems. The two are also set to establish the Construction Automation Training Academy in a bid to secure a talent pipeline.

LOGISTICS-

DP World partners with Kenya’s eCitizen to digitalize customs clearance: DP World will integrate its Cargoes Customs system into Kenya’s Electronic Citizen Solutions (eCitizen) platform under a long-term agreement — a move that aims to digitalize Kenyan trade and upgrade the country’s customs clearance processes, according to Dubai Media Office.

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