{"id":96208,"date":"2024-09-26T00:00:00","date_gmt":"2024-09-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/uber-and-weride-are-bringing-robotaxis-to-the-uae\/"},"modified":"2024-09-26T00:00:00","modified_gmt":"2024-09-26T00:00:00","slug":"uber-and-weride-are-bringing-robotaxis-to-the-uae","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/09\/26\/uber-and-weride-are-bringing-robotaxis-to-the-uae\/","title":{"rendered":"Uber and WeRide are bringing robotaxis to the UAE"},"content":{"rendered":"

\n

TRANSPORT-<\/p>\n

Uber to add self-driving vehicles to its fleet: <\/strong>Uber<\/a> partnered with WeRide<\/a> to introduce WeRide\u2019s self-driving vehicles on the Uber app, starting in the UAE, according to a company statement<\/a>. The partnership is set to kick off in Abu Dhabi later this year, where select WeRide vehicles will be available for Uber users. <\/p>\n

About WeRide: <\/strong>The company boasts the largest robotaxi fleet in the UAE, accessible via its TXAI app. It was awarded the UAE\u2019s first national license for self-driving vehicles in July 2023, allowing it to test and operate its autonomous fleet nationwide.<\/p>\n

\n

INVESTMENT-<\/p>\n

Sovereign wealth fund Mubadala\u2019s asset management arm Mubadala Capital participated <\/strong>in a USD 65 mn series A funding round for UK-based GC Therapeutics (GCTx)<\/strong>, according to a press release<\/a>. The round was led by Cormorant Asset Management, with participation from Andreessen Horowitz, Medical Excellence Capital, Cercano Management and Pear VC.<\/p>\n

The funding will allow GCTx to expand its cell therapy platform<\/strong>, which uses advanced technology to develop treatments for gastrointestinal, neurological, and immunological diseases. <\/p>\n

Mubadala Capital \u2764\ufe0f biotech: <\/strong>Mubadala Capital poured USD 680 mn to acquire Belgian biopharma firm UCB\u2019s carved out neurology and allergy business in China back in August<\/a>. Mubadala Capital also invested in three US biotech startups \u2014 Outpace Bio, Metsera, and Capstan Therapeutics \u2014 with a combined USD 617 mn.<\/p>\n

\n

DEBT-<\/p>\n

Real estate developer <\/strong>Arada<\/a><\/strong> completed a USD 150 mn tap into its <\/strong>USD 400 mn<\/strong> sukuk issuance<\/strong> on both the London Stock Exchange and Nasdaq Dubai, bringing the total issuance to USD 550 mn, according to a statement<\/a>.<\/p>\n

The tap issuance saw strong demand from investors:<\/strong> The issuance was 3.2x oversubscribed, receiving over USD 480 mn in orders. The tap was priced at USD 102.54, with an average yield of 7.35%, 15 basis points (bps) down from the initial guidance.<\/p>\n

ICYMI- Arada <\/strong>took a five-year USD 400 mn<\/a><\/strong> sukuk to market in June<\/strong> \u2014 part of its USD 1 bn sukuk program \u2014 with the proceeds allocated for general corporate purposes and to support its projects. The issuance was 3.5x oversubscribed, drawing some USD 1.45 bn in orders.<\/p>\n

\n

FINANCE-<\/p>\n

DMCC partners with Palestine Islamic Bank to facilitate Islamic finance via its Tradeflow <\/strong>platform: <\/strong>The Dubai Multi Commodities Centre (DMCC) signed an MoU with Palestine Islamic Bank (PIB) to enable secure Sharia-compliant transactions via the DMCC Tradeflow platform<\/a>, according to a press release<\/a>. <\/p>\n

\n

E-COMMERCE-<\/p>\n

iDeals sets its eyes on Mexico: <\/strong>Dubai-based e-commerce platform iDeals<\/a> partnered with Al Fajer family, owner of Al Fajer Enterprises<\/a> conglomerate, to launch its business in Mexico, according to a press release<\/a>. Raul Fager will serve as iDeals' CEO in Mexico. <\/p>\n","protected":false},"excerpt":{"rendered":"

PLUS: Arada completes USD 150 mn tap into sukuk issuance<\/p>\n","protected":false},"author":1,"featured_media":96209,"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":[47,895,1391,1258,659,7,1393,1367,1059],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-96208","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-automotive","tag-debt","tag-dmcc","tag-e-commerce","tag-enterpriseam-uae","tag-finance","tag-transport","tag-uber","wpautop","entry"],"acf":{"mongo_id":"70b6beba-645f-4eed-85e7-55b5cb586c5f","order":"13","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/2063.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Uber and WeRide are bringing robotaxis to the UAE","related_issue":[96184],"teaser":"PLUS: Arada completes USD 150 mn tap into sukuk issuance","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.c78e614e-bc22-4151-9b51-86a28ddbff34.mp3"},"yoast_head":"\nUber and WeRide are bringing robotaxis to the UAE - 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