Industries

Legend earmarks AED 500 mn to expand Jafza facility + M42 opens hospital in Bahrain

Plus: Edge inks US partnership for metal production

THIS MORNING: Mubadala eyes Brazil’s Will Bank + Adnoc top bidder for Russian stake in Serbian Oil Industry?

Plus: Emirates NBD sees the UAE’s GDP growing 4.6% in 2026

Gems’ advisory arm to help set up school in Cyprus + Geely-backed Cacao, VFX firm open up Middle East HQ in Abu Dhabi

Plus: SmartCrowd launches first crowdfunded property in Abu Dhabi

ADFD provides financing for GSU’s Uzbekistan acquisition

Plus: Upfront raises USD 12 mn to scale hiring and expand into Saudi Arabia

THIS MORNING: New seven stations announced for Etihad Rail + Apollo Go gets driverless trial permit in Dubai

Plus: Philippines and the UAE to sign comprehensive economic partnership agreement next week

THIS MORNING: Tesla’s full self-driving system to launch in the UAE next month? + ADGM approves another stablecoin

Plus: GCC’s real GDP to expand by 4.4% in 2026 -Oxford Economics

Abu Dhabi’s Khazna solar project awards EPC contract to China’s SEPCO3

Plus: Dubai is getting a new car trading hub

Aldar buys AED 570 mn logistics assets from AD Ports

Plus: DataCamp expands into the Middle East with the acquisition of AI learning platform Optima

THIS MORNING: Somalia cancels ports, defense contracts with the UAE + Emirates NBD tees up debut AED-denominated DNN notes

Plus: What a potentially weaker USD means for the GCC this year, according to ENBD

HSBC launches onshore funds

The new onshore funds span multiple asset classes, from US income to shariah multi-asset, risk…

Why AI in finance is a people story

The UAE’s visionary AI Strategy 2031 is the blueprint for our country’s next economic era.…

THIS MORNING: Abu Dhabi Sustainability Week kicks off, with several African leaders in attendance

Plus: Hessa Street should get a little less busy

The GCC IPO party took a breather in 2025

The region recorded 40 IPOs during the year, down from 53 in 2024

UAE capital markets entered their mature era in 2025

Despite the UAE seeing only three listings in 2025, the rise in follow-ons has signaled…

THIS MORNING: Fuel prices slashed for January + Minimum wage hiked for Emiratis

Plus: Major banks begin phasing out OTP texts

New rules for contracts, asset ownership, and buyer protections set under new federal decree laws

The laws introduce rules for disclosures of pre-contract negotiations, as well as managing assets as…

Dubai’s Bybit sets up EU HQ in Vienna

Egypt’s Madinet Masr expands to UAE, UAE signs three-way push for agriculture, upskilling, and investment…

THIS MORNING: Adnoc to sell stake in Adnoc Gas? + Four-day weekend confirmed

Plus: UAE ranks fifth in the world for AI

Climate change behind the intensity of last week’s storm

PLUS: How G42 fits into the US-China tech race

Dubai approves AED 40 bn PPPs

Good morning, friends, and happy FRIDAY. We have a pretty busy issue to close out a…

BIS flags bubble-like conditions in gold, US equities

The bank noted this is the first time in at least five decades that equities…

Multiply, Modon continue their overseas push with fresh investments

Plus: Property Finder will onboard Stake’s fractional property investment onto its platform

Dar + Trump partner to develop and tokenize hotel in Maldives

Plus: Aster to build two new hospitals with AED 265 mn in financing from Emirates…

THIS MORNING: Adnoc could close Covestro acquisition before early December + DMCC to develop new financial center

Plus: UAE to hand over 60% of revenues from Islamabad Airport in takeover?

Modon awards Orascom Construction a development contract for district in Ras El Hekma

Plus: Dubai’s design hub is getting a residential upgrade

Abu Dhabi developer acquires marina construction firm as more developers expand infrastructure capabilities amid property boom

Plus: Modon divests stake in Icon Hotel to ADQ

THIS MORNING: Yachts set to move more easily between Dubai and Abu Dhabi + Scrap metal now subject to VAT reverse charge mechanism

Plus: Construction contracts are up in 9M 2025, and the property boom is still to…

Modon awards massive construction contract, EGA invests USD 170 mn in German facility, and Depa closes its rights issue

Modon awarded a AED 5 bn contract for Nawayef East and Nawayef West on Hudayriyat…

DFSA hands crypto oversight to firms

Firms now bear full regulatory and supervisory exposure

THIS MORNING: Rakbank is the latest to join the stablecoin party + Contract awards fell in 2025

Plus: Health and Prevention Ministry is drafting rules to cap salt levels in food

A new regional lead at Binance

The move comes on the heels of approval for Binance to run its global platform…

THIS MORNING: AE Coin to be integrated into Network International’s PoS and e-commerce payment infrastructure + Non-oil private sector ended 2025 firmly in growth territory

Plus: The oil glut is hitting the Middle East’s crude market

FAB, Afreximbank offer USD 1 bn for Nigeria coastal road

The project benefits from a credit ins. wrapper from the Islamic Corporation for the Ins.…

ADFD to boost Mauritania’s water security

The project is expected to serve around 500k people in Mauritania’s Kiffa city and surrounding…

The IMF is happy with the UAE’s reform and growth trajectory, based on its latest article IV consultation

The anticipated 2025 growth is driven by a projected 5.3% expansion in the hydrocarbon sector…

THIS MORNING: Abu Dhabi investor backs Paramount’s hostile bid for Warner Bros + Abu Dhabi gets fintech, insurance, digital assets cluster

Plus: Plenary sets up infrastructure investment platform in ADGM

Amazon’s local rival noon gets USD 500 mn backing

The newly raised capital and a potential IPO could fuel noon’s expansion and automation

Brics’ NBD’s list USD 50 bn note program on Nasdaq Dubai + Several firms join new FIDA cluster in Abu Dhabi

ALSO- An agentic AI platform for lawyers raises pre-seed round

PE firm KKR expands to Abu Dhabi + Zand AED-backed stablecoin gets approval

Plus: Emirates NBD joins Finance Ministry’s retail T-sukuk initiative

THIS MORNING: New one-stop travel system for GCC citizens + New crypto and rent installments payment options coming to the property market

Plus: Abu Dhabi saw more than 4 mn visitors in 1H 2025

Taaleem posts strong 21% revenue surge in 1Q

The group saw a 13.9% dip in its net income due to expansion costs

Job seekers are leaning on microcredentials and online courses amid rising competition and demand for new skills

Coursera CEO Greg Hart tells us the majority of employers are more likely to hire…

Almasar Education gained 18.41% on its Tadawul debut

Around 21.4 mn shares changed hands across 41k trades worth SAR 450.4 mn

Almasar Education wraps up Tadawul IPO, with retail portion 1.2x oversubscribed

The retail portion was 1.21x oversubscribed

Masdar plants its flag in Angola’s power market

The Quipungo solar PV plant will anchor a planned 500 MW renewables program across three…

Adnoc greenlights Sarb deep gas development

The development marks Adnoc’s expansion into the ultra-deep, high-pressure reservoirs in Sarb

UAE set to be a “fiscal outlier” and the fastest growing country in the Gulf this year

The UAE is projected to achieve a fiscal surplus of up to 4.0% of GDP

Emirates Islamic bankrolls Romanian energy project

The hydrogen-ready plant is set to become the largest of its kind in Europe

The digital AED, explained

What to expect from the CBUAE’s digital AED rollout before year’s end

The UAE’s hedge fund hub status gets another boost

At least five senior hedge fund managers are launching UAE-based funds, with backing from US…

THIS MORNING: F1 Grand Prix kicks off in Abu Dhabi + Sharjah’s getting ultra-fast DC EV chargers

Plus: Abu Dhabi Finance Week kicks off next week

A tokenized litigation fund is coming to Dubai

The vehicle will invest in UK law claims and issue digital tokens to investors instead…

Oson rolls out DIFC headquarters

The company plans to enter the cross-border payment market between Central Asia and Middle East

IHC’s expansion drive continues

The company is targeting scalable SME-focused firms, having recently poured USD 715 mn into digital…

Bank of China lists another USD 500 mn on Nasdaq Dubai

Plus: Investcorp Capital acquires US fire and life safety services provider

THIS MORNING: Driverless taxis are now on Uber in Abu Dhabi + ENBD CEO breaks down plans post-acquisition of RBL

Plus: Petrofac files for insolvency for its Middle East unit

HNWI exodus draws Bentley Reid to DIFC

Plus: Snoc finds more gas at Al Hadiba

Emirates’ first carbon capture plant kicks off operations

Plus: Aldar Estates launches AI-enabled automated parking with Parkonic

Dubai, CBUAE eye capital markets boost

Plus: Ducab acquires Oman’s National Cables Factory

Revolut plans to roll out its services in the UAE

PLUS- Saudi HSBC’s equity capital markets head could be coming to Dubai

THIS MORNING: Health Ministry transfers licensing, meds registration services to Emirates Drug Establishment + Emirates SkyCargo eyes boosting capacity in 2026

Plus: Gulf Islamic Investments (GII) is looking to triple its assets to USD 10 bn…

Burjeel taps new CEO

Founder and Chairman Shamsheer Vayalil replaces current co-CEOs John Sunil and Safeer Ahamed

US-listed ETFs land on ADX, and KKR makes a Gulf investment

The ADX is now the first exchange in the Arab region to cross-list US-domiciled ETFs

Circle follows up stablecoins greenlight with ADGM approval

Plus: Tabadulat gets FSRA license for shariah-compliant trading platform

UAE to join US-led tech supply chain initiative Pax Silica

The UAE should be onboarded on Thursday

Over in Egypt: Dana Gas gets paid and Drake and Scull gets contracted

Plus: GFH channels Asia capital into the UAE logistics sector

Sharjah 2026 budget set at new high

The budget allocates the majority share to the infrastructure sector at 35%

UAE banks export capital

The Abu Dhabi lenders are targeting infrastructure and energy abroad, with FAB backing Nigeria’s Lagos-Calabar…

Aldar adds another USD 1 bn to its war chest + DAE raises USD 600 mn

Orders exceeded USD 4.2 bn led by regional accounts

Armani wagers on Dubai for its next hotel chapter

Headquartered in Milan and Dubai, the JV holds exclusive global rights to develop all future…

A VTOL hub for Abu Dhabi, a solar plant for Sharjah, and another Indian real estate player in Dubai

Qatar-based smart mobility Barq Group and US-based autonomous aircraft developer Elroy are setting up a…

New drone training centers and a new DIFC entrant

NYSE-listed P10 has opened its doors in DIFC

Abu Dhabi’s secular divorce court in the spotlight

Since inception, the court has registered 43k marriages and received 10k new applications in 1H…

Carolina Rios, associate partner and head of virtual assets at Karm Legal Consultants

I try to help clients view regulation not as a barrier, but as a tool…

ADGM tightens rules for professional service providers

The update classifies tax services as a controlled activity, placing consultancies under ADGM oversight

Agreements flood in with Gitex in full swing

AI was in the spotlight on the second day of Gitex Global 2025, the sprawling…

Is Arabian Gulf Steel Industries eyeing distressed British steelmaker Specialty Steels?

The company, which is the the collapsed division of Sanjeev Gupta’s Liberty Steel empire, has…

Masdar plans another Southeast Asia solar plant + Julphar to set up manufacturing facility in Saudi Arabia

The renewables giant already operates Southeast Asia’s largest existing floating solar plant

EGA looks abroad for bauxite and capital

The aluminum producer is holding early investor talks for a USD 5-6 bn Oklahoma smelter…

The UAE ♥️ high-end grocery baskets, with FMCG dominating consumer spending patterns in the past year -NielsenIQ

Spending on both value and premium items in the FMCG category climbed 20%

Ethmar, GB Media develop multi-mn-USD media-focused fund in Abu Dhabi

The fund is co-led by two GB Media founders with extensive backgrounds in Hollywood and…

THIS MORNING: Has the UAE bought an Israeli defense package? + Emirates NBD gets in on gold

Plus: A new National Media Authority has been set up

Archeo Futurus + Daywalker Global to pour USD 200 mn into Abu Dhabi’s tech and media sectors

They also launched the world’s first compute-securitized bond to support this investment plan

THIS MORNING: CBUAE cuts rates by 25 bps, following the Fed + UAE “the world’s second crypto capital,” Coinbase CEO says

Plus: Abu Dhabi family backed-developer expands London portfolio with major West End office project

Axis International files arbitration claim against Guinea over revoked mining permit

PLUS: Dubai to host Fifa Best Awards next year

Gold hits another fresh high, as analysts pencil in up to USD 5k an ounce next year

Wall Street forecasts point to gold climbing toward USD 5k by 2026, with no major…

Eshraq and Agthia both take cases to court

Plus: Maxus Coral acquires electronics retail chain E-city

THIS MORNING: Incentives for hotels in Dubai South, Palm Jebel Ali, and more + AED-denominated physically deliverable gold contracts coming?

Plus: IHC board signs off on Multiply-Ghitha-2PointZero merger

Homegrown flexible staffing solutions provider Orgam secures USD 3 mn investment from Tenami capital

ALSO- Georgia-based real estate developer Mardi Holding will expand into the UAE market

Al Ansari + Abhi to introduce early salary access, SNPL services

ALSO- Drake & Scull is joining forces with El Amar Group to collaborate on projects…

RTA awards AED 696 mn contract for Trade Center roundabout development

Adnec Group signed an agreement with the Ewec to secure 100% of Adnec Center Abu…

Emirates Reem Investments acquires stakes in two firms

Spinneys will build a food processing facility in Dubai

Adnoc Drilling officially goes regional

This is the company’s first inorganic expansion outside the UAE

Taqa locks in Al Dhafra gas plant

Roughly 85% of the cost is funded by syndicated debt

Taqa locks in Al Dhafra gas plant

Roughly 85% of the cost is funded by syndicated debt

Non-oil sector momentum + hydrocarbons recovery lift GDP outlook for 2025

The CBUAE also raised its forecast for non-hydrocarbon GDP this year to 4.9% from 4.5%

Adipec day three: Movement on petrochems, oil and gas, and SAF projects in the UAE

Ta’ziz, Brooge, Mubadala Energy, and others advance key projects

Emaar plans another big-ticket investment in Egypt

Plus: Space42 makes Thuraya 4 satellite globally available

Adnoc L&S to build, own, and operate T’aziz’s chemicals export port at Al Ruwais

Plus: Bybit secures first full virtual assets license from the SCA

Mashreq expands footprint to Turkey with new office

Plus: Addleshaw Goddard opens office in ADGM

BlueFive Capital is making inroads in China ahead of planned USD 1 bn Asia-focused fund

This marks BlueFive Capital’s third major Asia-linked move in six months

Adia invests in Chinese USD 770 mn CV

The vehicle aims to acquire a portfolio of mid-large-cap assets, primarily focused on China

FAB participates in Hong Kong’s RMB Business Facility + joins open finance framework

PLUS: Beltone folds Chimera regional assets into its balance sheet in USD 1 acquisition

FAB participates in Hong Kong’s RMB Business Facility + joins open finance framework

PLUS: Beltone folds Chimera regional assets into its balance sheet in USD 1 acquisition

Real estate sales rise to near AED 1 tn mark in Dubai amid strong demand for ultra-prime homes

The number of new resident investors was up 23% y-o-y, and foreign investors accounted for…

London hotel goes to Abu Dhabi real estate magnate, USD 1.1 bn Arrowpoint comes to town, and hotels make headway in Al Marjan

Arrowpoint joins the ranks of global hedge funds establishing a presence in the emirate

Emirates NBD, Aldar scout investors for first debt issuances of the year

Emirates NBD is eyeing a dual-tranche blue and green bond offering, while Aldar is eyeing…

Chinese freight operator + Indian real estate developer expand to Dubai

China’s Awot launched its regional HQ in Dubai Airport Freezone, while India’s National Buildings Construction…

Investcorp acquires US industrial property portfolio + NRTC takes over Ripe Organic

Plus: BPGIC taps PEG for Fujairah’s gasoline refinery

IHC injects USD 715 mn into its digital financing platform Zelo to expand SME financing

The funding will help Zelo fast-track additional anchor partnerships

THIS MORNING: December will be a busy month for travel + Non-Emiratis can now foster children under new amendments

Plus: Ripple stablecoin gets ADGM approval

HR tech startup Cercli raises USD 12 mn in a Series A round

The round was led by Germany’s Picus Capital

AED 18.3 bn for new parks + more plans to improve quality of life in Dubai

The policies include developing talent in the aviation and sports sectors

MultiBank, UFC champion roll out Dubai-based multi-bn-USD tokenized sports platform

The joint venture will develop tokenized assets tied to sports ventures, including 30 Khabib-branded gyms

Mubadala Capital could acquire US billboard operator + Manchester United in UAE consortium’s sight

PLUS: Golden visa for endowment support

Mira to build AED 55 bn community on Abu Dhabi-Dubai highway

Plus: Taaleem to build school in MAF’s Ghaf Woods

Dubai, wired differently

JLL’s Priyanka Nagpal says Dubai’s geographic position and sustainability-led cooling strategy are key to its…

How off-balance-sheet financing is masking the true cost of the AI boom

Big Tech has pushed over USD 120 bn of AI data-center debt off its balance…

Investors rotate into Chinese AI as bubble fears mount on Wall Street

Investors are rotating toward China, where cheaper valuations and power advantages offer a hedge against…

Inside MGX’s investment in TikTok

The investment marks a widening of MGX’s original AI and digital infrastructure-focused scope

e&-backed Pakistani telco now owns 100% of Telenor Pakistan

The transaction valued Telenor Pakistan at PKR 108 bn

THIS MORNING: Airtel Money looks set for a UAE IPO in 2026 + New mall coming?

Plus: Petrofac UAE projects are on track despite layoffs

Adia wraps Ooreedoo stake sale

The transaction is set to have brought in roughly QAR 2 bn

ADIB is first bank tapped for MoF’s retail sukuk program

Plus: Al Ghurair Foods launches B2B food ingredients arm

THIS MORNING: Open finance enters go-live phase + President to land in Pakistan tomorrow for trade, investment talks

Plus: Galvanized wire from the UAE will face anti-dumping duties in Morocco

THIS MORNING: CloudKitchens shelves plans for dual KSA, UAE listing + Alterra invests in Copenhagen Infrastructure Partners’ fund

Plus: Warner Bros’ board is not loving Paramount’s Gulf-backed bid

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