{"id":88748,"date":"2024-02-06T00:00:00","date_gmt":"2024-02-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/mubadala-invests-in-indian-healthcare-network-globalpharma-to-manufacture-saudi-meds-in-the-uae\/"},"modified":"2024-02-06T00:00:00","modified_gmt":"2024-02-06T00:00:00","slug":"mubadala-invests-in-indian-healthcare-network-globalpharma-to-manufacture-saudi-meds-in-the-uae","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/02\/06\/mubadala-invests-in-indian-healthcare-network-globalpharma-to-manufacture-saudi-meds-in-the-uae\/","title":{"rendered":"Mubadala invests in Indian healthcare network + Globalpharma to manufacture Saudi meds in the UAE"},"content":{"rendered":"

HEALTHCARE-<\/p>\n

#1- Mubadala Investment Company is investing an undisclosed amount in Indian<\/strong>healthcare network <\/strong>Manipal Health Enterprises<\/strong>, according to a press release<\/a>. Novo Holdings and California Public Employees' Retirement System (CalPERS) have also acquired minority shares in the company from Singapore-based sovereign wealth fund Temasek<\/a>, The<\/a>Hindu<\/a>Business Line<\/a> reports. <\/p>\n

The details are unclear:<\/strong> Temasek will retain its majority stake in Manipal<\/a>. The size and value of the transaction were not disclosed, though Indian outlet Mint<\/a> cites two people with knowledge of the transaction as saying that the fund sold an 8% stake to the buyers, without clarifying a breakdown. <\/p>\n

#2- Globalpharma is producing more drugs in-house: <\/strong>Dubai Investments<\/a> subsidiary Globalpharma<\/a> will manufacture three of Saudi pharma firm Tabuk<\/a>Pharma Manufacturing Company<\/a> \u2019s cardiovascular meds and analgesics under an agreement with the company, according to a statement (pdf)<\/a>. The agreement was inked on the sidelines of the Arab Health 2024 Exhibition. <\/p>\n

\n

FINTECH-<\/p>\n

#1- You can now send money through Botim: <\/strong>Astra Tech<\/a> partnered with Al Etihad<\/a>Payments<\/a> (AEP), a Central Bank of the UAE subsidiary, to integrate AEP's Aani<\/a> instant payment platform into the Botim app, according to a press release<\/a>. The service offers 24 hour cardless transactions, with the first phase seeing wallet-to-wallet transfers using mobile numbers as identifiers, and future plans slated to introduce QR code-based payments, direct debits and e-cheques, the statement said. <\/p>\n

#2- Saudi SME fintech Geidea partnered with <\/strong>Dubai-based software developer <\/strong>Fils<\/a><\/strong> to allow its merchants to estimate emissions<\/strong> of certain transactions and invest in carbon credit projects,according to a statement<\/a> from Fils. <\/p>\n

ICYMI:<\/strong> Fils also partnered with our friends at Mashreq<\/a> and e&\u2019s tech solutions arm e& Enterprise<\/a> last month to integrate its carbon offsetting feature into their platforms.<\/p>\n

\n

BANKING-<\/p>\n

Emirates NBD gets DFSA\u2019s first ESG fee waiver:<\/strong> The Dubai Financial Services Authority has waived all regulatory fees for Emirates NBD for its planned listing of ESG bonds in the Dubai International Financial Centre (DIFC) in 2024, Dubai Financial Services Authority (DFSA) has waived all regulatory fees for Emirates NBD, according to a statement<\/a>. <\/p>\n

Background:<\/strong> Dubai\u2019s financial regulator announced at COP28 that it will waive all regulatory fees for financial institutions that issue green and sustainability-related securities to \u201caccelerate the growth of sustainable capital markets in the Centre.\u201d<\/p>\n

\n

TECH-<\/p>\n

#1- Microsoft will work with <\/strong>Dubai\u2019s Department of Economy and Tourism (DET)<\/a><\/strong> on a <\/strong>trade platform to improve operational efficiency across the<\/strong> logistics sector<\/strong>, according to the Dubai Media Office. Microsoft will also offer its resources and expertise to local tech startups, entrepreneurs, and schools in Dubai.<\/p>\n

#2- e& to expand data center in Abu Dhabi: <\/strong>e&\u2019s internet provider, Carrier & Wholesale Services (C&WS) will expand its data centers in the UAE and set up the fifth Tier III SmartHub data center in Abu Dhabi to \u201caccelerate digital adoption in the country [and offer] added value for customers with low latency and high-speed internet,\u201d according to a press release<\/a>. <\/p>\n

SOUND SMART-<\/strong> A Tier III data center can undergo power and cooling maintenance while connected to the internet without downtime. <\/p>\n

#3- Swiss cybersecurity firm <\/strong>Zendata<\/a><\/strong> inaugurated its regional headquarters in Abu <\/strong>Dhabi, <\/strong>Al Khaleej<\/a> reports. The move aims to address the growing demand for advanced cybersecurity solutions in the region and comes as part of the Economy Ministry\u2019s NextGenFDI initiative. <\/p>\n

\n

TRANSPORT-<\/p>\n

#1- <\/strong>Dubai\u2019s Road and Transport Authority (RTA) inked an<\/strong>agreement yesterday with Amazon cloud computing subsidiary <\/strong>Amazon Web Services (AWS)<\/a><\/strong>, as part of its plan to move most of its services online, according to an RTA statement<\/a>. <\/p>\n

Background:<\/strong>The RTA revealed plans in December to up its digital service adoption to 95% by 2030. The authority pledged to invest some AED 1.6 bn into the transition.<\/p>\n

\n

LOGISTICS- <\/p>\n

AD Ports to introduce electric freight vehicles at Khalifa Port:<\/strong>AD Ports<\/a> is looking to introduce the first electric freight vehicle in the Emirates at Khalifa Port Autoterminal Station, AD ports said (watch, runtime: 0:45<\/a>).<\/p>\n

HOSPITALITY- <\/p>\n

Al Marjan Island is getting three new upscale properties: <\/strong>Marjan<\/a> partnered with Eastern Caribbean hospitality developer Range Developments to introduce three luxury properties on Al Marjan Island in Ras Al Khaimah, marking its debut in the UAE market, according to a press release<\/a>. <\/p>\n

INVESTMENT- <\/p>\n

Korean recycling firm sets up shop in Sharjah: <\/strong>South Korean platinum recycling firm Heesung PMTech<\/a> launched yesterday the first phase of its 603 sqm platinum refinery, built with an initial investment of AED 4 mn, in the Sharjah Airport International Freezone<\/a> (SAIF zone), Wam<\/a> reports. <\/p>\n

AVIATION-<\/p>\n

Emirates to send engineers to oversee Boeing production:<\/strong> Warning that the US plane manufacturer is in the \u201clast chance saloon,\u201d Emirates President Tim Clark told the Financial Times<\/a> that the Dubai-based flag carrier will send its own engineers to inspect the production line of the Boeing 777 jet and its supplier Spirit AeroSystems after seeing a \u201cprogressive decline\u201d in the manufacturer\u2019s standards. <\/p>\n

Emirates\u2019 move comes after a series of mishaps,<\/strong> including a piece of fuselage from a Boeing 737 Max 9 blowing out during an Alaska Airlines flight in January<\/a>. Following the incident, United Airlines said it found loose bolts and other issues on its grounded 737 Max planes after safety checks.<\/p>\n

\n

TELECOM- <\/p>\n

e& to connect the Emirates to the world\u2019s longest telecoms cable: <\/strong>e&\u2019s internet provider, Carrier & Wholesale Services (C&WS), is planning to anchor the world\u2019s longest undersea telecoms cable, the 2Africa subsea internet cable, in Kaliba, Fujairah, according to a press release<\/a>. The cable will be connected to Fujairah\u2019s cable landing station.<\/p>\n

\n

STARTUPS-<\/p>\n

Digital Hotelier lands USD 1 mn in seed round:<\/strong> Dubai-based hotel software startupDigital Hotelier raised USD 1 mn in a seed round led by Silicon Valley-based VC firm Plug and Play, Bahrain-based Hope Funds, and a group of angel investors, Wamda<\/a> reports. The startup landed USD 200k from the Bahraini investment firm as part of the round via participating in the third season of the entrepreneurship-themed reality television show Beban. The funds will be used to expand the firm\u2019s product offerings. <\/p>\n","protected":false},"excerpt":{"rendered":"

The company has reportedly invested in minority shares in the company<\/p>\n","protected":false},"author":1,"featured_media":88749,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1552],"tags":[47,789,7,79,788,131,787,262,1621,1341,1367],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88748","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-amazon-web-services","tag-enterpriseam-uae","tag-fintech","tag-geidea","tag-healthcare","tag-microsoft","tag-pharmaceuticals","tag-rta","tag-tech","tag-transport","wpautop","entry"],"acf":{"mongo_id":"79120814-b4a4-4d24-ae42-4a65b2d12ef1","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/388.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Mubadala invests in Indian healthcare network + Globalpharma to manufacture Saudi meds in the UAE","related_issue":[88728],"teaser":"The company has reportedly invested in minority shares in the company","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.2afe4cff-d50f-4460-9581-c182a03508c7.mp3"},"yoast_head":"\nMubadala invests in Indian healthcare network + Globalpharma to manufacture Saudi meds in the UAE - 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