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AI + Innovation (MENA) 
Infrastructure 
Adia invests in biotech startup + Ignite Energy Access to set up HQ in Abu Dhabi
Plus: Dubai RTA completes 40% of nol system upgrade
DFSA taps new MD for enforcement + Ibrahim Nassir is now undersecretary of the government enablement department
Alan Linning joins the DFSA from Mayer Brown JSM in Hong Kong
Adtic invests USD 120 mn in hotel in Egypt’s Giza pyramids area
Plus: Ripple becomes first DFSA-licensed blockchain payments firm in DIFC
Mega Matrix, 9Yards launch USD 100 mn short drama fund in Abu Dhabi
The fund, based in ADGM, will support global acquisitions and investments focusing on short-form content and AI-driven productions
Abu Dhabi rents surge 20% in 2024 as supply struggles to keep up
Apartment rents climbed 22% y-o-y, while villa rents rose 9%
Big banks rush into stablecoins
Stablecoin transactions hit USD 710 bn last month, up from USD 521 bn a year ago
Arabian Construction secures AED 2 bn contract for Design Quarter development from Meraas
Plus: Moody’s upgrades RAK Bank’s outlook
Italian firm clinches USD 2.5 bn urban management contract for Abu Dhabi
Italian AI firm to bring AI urban solutions to Abu Dhabi: Abu Dhabi-based security firm Bold Technologies signed a USD…
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