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Al <\/strong>Ansari Digital Pay secures final CBUAE approval:<\/strong> Al Ansari Digital Pay, the fintech arm of Al Ansari Financial Services, obtained final regulatory approvals from the Central Bank of the UAE for its Stored Value Facility (SVF) and Retail Payment Services and Card Schemes (RPSCS) licenses, according to a press release (pdf)<\/a>. The approvals pave the way for the official launch of its digital wallet, Al Ansari Wallet, in 2Q 2025.<\/p>\n Licensing scope:<\/strong> The SVF license allows the company to offer digital accounts, while the RPSCS license enables prepaid card issuance, merchant payment facilitation, and acquiring services for online and physical retailers. The approvals follow an earlier in-principle nod from the CBUAE.<\/p>\n The details: <\/strong>The wallet will serve unbanked and underbanked users, with accessible financial services, including micro-financing solutions. Al Ansari Digital Pay forecasts AED 12 mn in revenue in its first full year. Beyond payments, Al Ansari Wallet will integrate AI and data analytics to enhance security, fraud prevention, and user experience, supporting the UAE\u2019s transition to a cashless economy.<\/p>\n \n HEALTHCARE-<\/p>\n Abu<\/a><\/strong>Dhabi Biobank<\/a><\/strong> launched private cord blood banking services at key hospitals in th<\/strong>e capital<\/strong>, offering expecting families an affordable local option for preserving their newborn\u2019s stem cells, according to a press release<\/a>. The new service cuts costs by up to 50% compared to market rates and eliminates the need to ship samples abroad, storing them instead at a state-of-the-art facility in Masdar City for up to 30 years. Abu Dhabi Biobank has partnered with hospitals including Danat Al Emarat, Corniche Hospital, and Kanad Hospital to expand access. <\/p>\n The stem cells can be used to treat over 80 life-threatening diseases<\/strong>, such as thalassemia, sickle cell anemia, and leukemia. The initiative was launched in collaboration with the Department of Health and M42. Experts say this move could broaden access to regenerative medicine across the UAE, where clinics are also exploring stem cell therapies for aging, chronic illness, and cosmetic treatments, the National<\/a> reports.<\/p>\n More to come: <\/strong>M42 is also planning to open a 2 sqkm net-zero biobank in Masdar City<\/a> in partnership with the Department of Health, featuring the region\u2019s first public cord blood bank and the largest collection of human biomaterials in the Middle East. <\/p>\n \n INS-<\/p>\n Moody\u2019s <\/strong>upgrades Dubai Ins. Company rating to A2:<\/strong> Moody's ratings has upgraded Dubai Ins. Company's financial strength rating from A3 to A2, citing the insurer\u2019s strengthened market position and diversification through its lead role in UAE government-mandated ins. programs, according to a press release (pdf)<\/a>. The outlook was revised to stable from positive.<\/p>\n Rationale and expectations:<\/strong> Dubai Ins. Company's management of government schemes \u2014 Workers Protection Program and Involuntary Loss of Employment \u2014 has driven a five year average combined ratio of 85.1% and return on capital of 14.5% with gross underwriting leverage of 2.9x. Growth from these programs is expected to boost earnings. However, risks remain due to the company\u2019s reliance on government policies and a concentrated client base, the ratings agency highlighted.<\/p>\n Key challenges include the company's reliance on the UAE market<\/strong>, a high proportion of high-risk assets (86.2% of equity), and dependence on reins. for underwriting capacity. The stable outlook reflects expectations of continued underwriting discipline and strong capital buffers.<\/p>\n \n CAPITAL MARKETS-<\/p>\n #1- <\/strong>CFD <\/strong>broker<\/strong> PU Prime<\/a><\/strong> launched 20 new UAE-listed stocks<\/strong>, spanning sectors including energy, banking, construction, and healthcare, PU Prime said in a press release<\/a>. Since 24 March, traders have had the chance to invest in stocks of companies like Adnoc, Abu Dhabi Islamic Bank, and Aldar Properties.<\/p>\n #2- Multi-asset brokerage firm <\/strong>ICM.com<\/a><\/strong> has secured a Securities and Commodities <\/strong>Authority (SCA) license<\/strong>, enabling its subsidiary, ICM MENA, to provide promotional and introductory services in the UAE, according to a press release<\/a>. <\/p>\n #3- <\/strong>Chimera Investments\u2019 Egyptian financial services firm Beltone closed the first round of <\/strong>its capital increase: <\/strong>Investors had a strong appetite for the first round of Beltone Holding\u2019s blockbuster EGP 10.75 capital increase<\/a>, according to a disclosure to the EGX (pdf)<\/a>. The rights issue was 92.11% covered by investors during the first phase of subscription which ended on Monday. The total increase would see Beltone\u2019s capital rise to EGP 21.7 bn.<\/p>\n What\u2019s next?<\/strong> Information about the second installment will be made public once the financial services firm gets the thumbs up from the Egyptian Financial Regulatory Authority, the statement reads. <\/p>\n This is Beltone\u2019s second mega capital increase in as many years<\/strong>, after it completed a<\/a>EGP 10 bn capital increase<\/a> on the EGX in 2023, which was met with major demand. This came shortly after Chimera Investments acquired 56% of the company<\/a> in 2022 and recruited an all-new team of senior execs, including Dalia Khorshid as CEO.<\/p>\n \n REAL ESTATE-<\/p>\n Alef <\/strong>awards AED 1.1 bn Al Mamsha Raseel contract to CC7:<\/strong> Sharjah-based developer Alef<\/a> has appointed China National Chemical Engineering & Construction Corporation Seven (CC7) as the main contractor for its AED 1.1 bn Al Mamsha Raseel project, according to a press release<\/a>. The development will deliver 1.9k residential units across 11 buildings within the Darb and Nama clusters. Part of the larger 3 mn sq ft Al Mamsha Sharjah community, the project is set for completion in December 2028. Designed as a fully walkable, community-centric development, it will feature landscaped walkways, water elements, and green spaces.<\/p>\n ICYMI- <\/strong>Last year, Alef Group secured AED 310 mn in sales<\/a> for its Al Mamsha Sharjah and Hayyan projects during the 2024 Acres Real Estate Exhibition.<\/p>\n \n LOGISTICS-<\/p>\n #1- A<\/strong>D Ports Group to boost <\/strong>digitalization initiatives:<\/strong> AD Ports Group digital arm Maqta Technologies Group inked a strategic partnership with Spain-based leading aerospace tech firm Indra Group<\/a> to explore joint digitalization services and solutions for ports, logistics and trade across the region, Europe and Africa, according to a statement<\/a>. The pair will collaborate to share technical expertise and form solutions for smart ports as well as trade digitalization, as well as integrating advanced management systems, port community systems, and maritime and logistics single windows.<\/p>\n #2- <\/strong>Autonomous delivery ro<\/strong>bots land at Dubai's Sobha: <\/strong>UAE-based last-mile delivery firm Yango Group has partnered with food tech and retail firm Roots to integrate last-mile robots for the delivery of groceries in Dubai\u2019s Sobha Hartland, according to a statement<\/a>. The move is in line with Dubai\u2019s goal to cut carbon emissions by 30% and convert 25% of transportation to autonomous modes by 2030 under its Autonomous Transportation Strategy<\/a>. <\/p>\n \n ENERGY-<\/p>\n Emsteel + Yellow Door Energy develop largest solar rooftop project in UAE: <\/strong>Renewable energy developer Yellow Door Energy has partnered with Emsteel to develop the largest industrial solar PV rooftop project with 31.5 MWp capacity, according to a press release<\/a>. The project will generate around 50 mn kWh of clean energy annually, offsetting some 16k metric tons of carbon over the next 25 years. Construction will begin in 2025, with completion slated for 2026. <\/p>\n ALSO FROM YELLOW DOOR- The solar developer signed a 24.5 MWp solar power purchase agreement (PPA) with South African Cement supplier<\/strong>, according to a press release<\/a>. The firm would supply four of PPC\u2019s projects with energy from its solar park in Leeudoringstad through the country\u2019s grid. The project will generate 57.5 GWh of electricity in the first year and includes a 43 km long overhead electrical lines to connect the solar park to a substation. <\/p>\n \n HOSPITALITY-<\/p>\n Marriott and<\/strong> ADNH partner on Al Marjan development: <\/strong>Marriott International<\/a> and Abu Dh<\/a>abi National Hotels<\/a> (ADNH) inked an agreement to build a luxury resort and residential development in Ras Al Khaimah\u2019s Al Marjan Island, according to a press release<\/a>. The Luxury Collection Resort will comprise 466 rooms and suites, 29 villas, business spaces, and other amenities. The partnership will also see the two develop 392 apartments, ranging between one and five bedrooms, and 55 villas. The press release did not specify a timeline or investment figure.<\/p>\n","protected":false},"excerpt":{"rendered":" Plus: Moody\u2019s upgrades Dubai Ins. 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