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Emirates NBD has joined the Sustainable Markets Initiative’s Financial Services Task Force, becoming the first bank from the GCC to participate in the group of global banking CEOs aiming to mobilise large-scale capital for climate- and nature-positive investment.

The move positions the Dubai-based lender at the forefront of sustainable finance in the MENAT region, enabling it to collaborate in setting industry-wide standards for environmentally conscious banking.

Shayne Nelson, Group Chief Executive, described sustainability as central to the institution’s culture and strategy, emphasising that its established ESG achievements underpin its inclusion. He noted that this engagement will boost collective efforts to tackle climate and biodiversity challenges.

Jennifer Jordan-Saifi, Chief Executive of the Sustainable Markets Initiative, welcomed Emirates NBD’s integration, reaffirming the importance of unified private-sector action to drive transition at the scale and pace needed globally.

Vijay Bains, Chief Sustainability Officer and Group Head of ESG at Emirates NBD, stated that the bank is adopting both national and international standards and engaging all stakeholders—from employees and customers to investors and communities—in delivering meaningful impact. He underlined that the ESG strategy extends beyond climate risk to include inclusive, low-carbon products and governance.

Since its launch in 2020 by His Majesty King Charles III, then the Prince of Wales, the Sustainable Markets Initiative has formed alliances across private sectors and governments to devise and scale solutions for sustainable transition. The Financial Services Task Force has already developed standardised methodologies for banking transitions and expertise in nature-based financial instruments.

Emirates NBD’s inclusion marks a significant milestone for the GCC’s role in global sustainable finance. The partnership enables the bank to influence practices beyond the region, particularly in infrastructure investment and climate-aligned financial innovation.

This move arrives against growing investor demand for eco-conscious operations and the UAE’s increasing focus on embedding sustainability across its economic policy and corporate governance.

DMCC and Vermiculus have formalised a strategic partnership through a Memorandum of Understanding, aimed at advancing financial market infrastructure with cutting-edge technological capabilities. The agreement positions DMCC to enhance its support for nearly 26,000 member companies across its business ecosystems through AI-powered, cloud-native fintech solutions.

The MoU will explore collaborative development of technology solutions tailored to exchanges, clearing houses and central securities depositories—including joint projects and knowledge-transfer initiatives. This aligns with DMCC’s broader objective to incorporate AI across its infrastructure and strengthen Dubai’s standing as a global trade and technology centre.

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC, emphasised the vital role of technology and knowledge exchange in shaping the future of trade and finance. He noted that the partnership lays the groundwork for innovation and business growth, reaffirming DMCC’s commitment to deliver global businesses the environment to thrive from Dubai.

Vermiculus, founded in 2019 in Stockholm, brings expertise in developing state-of-the-art, cloud-native systems with AI integration for mission-critical financial market infrastructure. With experience spanning over 25 years and more than 75 projects for global exchanges, clearing houses and central securities depositories, the firm is well-placed to support DMCC’s ambitious technology strategy.

Taraneh Derayati, CEO of Vermiculus, highlighted the alignment between both organisations’ pursuit of high-quality AI-focused fintech solutions. She cited their successful history of collaboration with DGCX as a natural foundation for this broader partnership.

Nils-Robert Persson, Founder and Chairman of Vermiculus, underlined that working with a dynamic business district such as DMCC presents valuable avenues for mutual growth. He reiterated Vermiculus’s commitment to delivering reliable, innovative solutions to exchanges and financial institutions globally.

The timing of the agreement coincides with deepening economic and technological ties between the UAE and Sweden, reflecting a shared drive toward innovation-led growth. The venture reinforces Dubai’s commitment to attracting impactful partnerships and bolstering its position as an international nexus for commerce and technological advancement.

By facilitating the deployment of AI-driven infrastructure solutions, the collaboration aims to increase resilience, scalability and efficiency in DMCC’s financial market operations. The initiative also signals an increasing convergence between trade hubs and fintech innovators—underscoring Dubai’s strategic pivot toward technology-powered trade ecosystems.

The nature and timeline of specific projects under the MoU have not been detailed publicly, but both parties appear intent on leveraging their capabilities swiftly to deliver tangible benefits across DMCC’s diverse business ecosystem.

UAE-based Space42 has entered into a five-year memorandum of understanding with Microsoft and Esri to create the most comprehensive digital base map across Africa, aiming to serve more than 1.4 billion people and catalyse economic and infrastructural development. The “Map Africa Initiative” seeks to transform fragmented and outdated geospatial data into timely, accurate intelligence for governments, businesses and communities.

Under the agreement, Space42 will coordinate fundraising and project management, supply satellite data via its sovereign and commercial networks, devise AI-driven digital-twin models, and lead research and automation of map-production processes. Esri will handle the creation of the base maps using GeoAI and remote-sensing technologies while training regional teams to ensure long-term sustainability. Microsoft will provide Azure cloud infrastructure and AI capabilities to enable large-scale processing and secure data sharing.

Africa faces persistent challenges of unreliable and inaccessible mapping information, constraining infrastructure planning, investment decisions and service delivery. The Map Africa Initiative aims to address these by offering a uniform, high-resolution mapping platform, licensed to governments and updated locally by national mapping agencies. This platform is expected to foster a new commercial ecosystem, with African startups benefiting from access to essential geospatial intelligence. Data will be hosted in data centres managed by G42 and Microsoft across the continent.

The mapped data promises significant impact across multiple sectors. In logistics and ports, enhanced terrain mapping can facilitate route optimisation and reduce bottlenecks. Energy developers will gain more precise site-selection tools for solar and wind infrastructure. Governments will benefit from improved border monitoring, disaster preparedness and resource management. Urban planners and smart-city developers will gain foundational geospatial data critical for designing efficient public services and digital economies.

For Space42, the agreement deepens strategic partnerships with Microsoft and Esri, enlarges its African footprint, and opens pathways in analytics, licensing, and infrastructure. It positions Space42 as a trusted partner to governments in delivering scalable geospatial solutions. Peng Xiao, Chief Executive Officer of G42, stressed the broader goal: to close the “intelligence gap” by delivering AI-powered insights that enable smarter planning, sustainable development and inclusive innovation across the Global South.

Hasan Al Hosani, CEO of Smart Solutions at Space42, stated that partnership is integral to the UAE’s approach; this collaboration signals a strategic, not merely technical, advance. Jack Dangermond, President of Esri, emphasised the technical rigour required to convert satellite imagery into detailed, accurate base maps—a capability Esri brings to the initiative.

The initiative aligns closely with the broader UAE strategy. In 2024, the UAE was Africa’s largest investor, deploying around US $44 billion, nearly matching investment levels from the UK and China combined. Space42, as the UAE’s national space entity, serves as both a conduit for exporting data-driven development solutions and a facilitator of knowledge transfer between the UAE and Africa.

Snowflake, the leading cloud data platform, has inaugurated a new office at The Square, Vittal Mallya Road in Bengaluru, further solidifying its presence in one of India’s largest technology hubs. The move follows the company’s expansion into Mumbai earlier, reflecting its commitment to establishing a robust footprint in the country.

The new Bengaluru office aims to be a hub for innovation, with a focus on data and artificial intelligence. Snowflake intends to foster collaboration between local and global teams to leverage the rapidly growing talent pool in the region. The company is not only seeking to tap into India’s burgeoning tech ecosystem but also to cultivate a work environment where data professionals and engineers can develop solutions that drive both local and global customer impact.

Bengaluru, known as India’s Silicon Valley, is home to a vast number of technology firms, startups, and innovation centres. As one of the leading tech cities globally, it offers an abundance of skilled professionals and a vibrant startup ecosystem. Snowflake’s decision to expand in Bengaluru underscores its confidence in the Indian market and the country’s crucial role in its global growth strategy.

The new office will serve as a centre of excellence, enabling Snowflake to provide tailored data solutions to clients across various sectors, including finance, retail, healthcare, and technology. It will also act as a research and development hub, working closely with Snowflake’s global teams to accelerate the delivery of cutting-edge products and services. This move aligns with Snowflake’s broader strategy of capitalising on AI, machine learning, and advanced data analytics to deliver transformative results for businesses around the world.

Snowflake’s expansion is a part of a broader trend where global tech giants are increasingly looking towards India as a critical location for their growth and innovation. India’s talent pool, particularly in software development, data science, and AI, continues to be one of the main driving forces for international firms seeking to innovate and build scalable solutions. The Bengaluru office will further enhance Snowflake’s ability to tap into this wealth of expertise and cater to the growing demand for advanced data solutions in the region.

The company’s expansion is also expected to create significant job opportunities, not just in data engineering and analytics but across various domains, from sales and marketing to customer support. By strengthening its local presence, Snowflake plans to build stronger relationships with its clients and partners in the region, which will be essential as it looks to further integrate itself into the local tech ecosystem.

In addition to providing innovative solutions for businesses, Snowflake’s new office will serve as a training ground for local talent. With a strong focus on learning and development, the company intends to upskill its employees and equip them with the necessary skills to tackle emerging data challenges. The office will also act as a key centre for Snowflake’s efforts in advancing data security and privacy, two areas that are increasingly top-of-mind for organisations operating in the cloud.

Mavryk Network, a layer-1 blockchain platform that has been pivotal in the tokenization of over $10 billion in real-world assets, is gearing up for the official launch of its mainnet token. The project’s native token, $MVRK, will soon be available for trading on MEXC, a leading global cryptocurrency exchange. This launch marks a significant milestone for the network, which aims to revolutionise the way assets are digitised and managed in the decentralized finance space.

The $MVRK token is integral to the Mavryk ecosystem, designed to support various on-chain operations, including transactions, staking, and governance. This launch will provide liquidity to the token, offering users an opportunity to engage with the network’s growing ecosystem, which has steadily gained traction in the blockchain space. By listing on MEXC, Mavryk will expand its reach, tapping into a wider pool of potential investors and developers.

The Mavryk Network focuses on creating a robust framework for tokenizing RWAs, enabling the seamless integration of assets such as real estate, commodities, and other traditional financial instruments into the blockchain. This approach aims to provide users with the ability to access a broader array of investments, offering a new avenue for both institutional and retail participants.

A key feature of Mavryk’s blockchain is its scalability and efficiency. With the ability to process high transaction volumes at a low cost, the platform addresses a significant pain point in the blockchain industry – transaction speed and cost-efficiency. The network’s architecture is designed to facilitate the fast and secure transfer of assets, making it an appealing option for businesses and individuals seeking to leverage blockchain technology for asset management.

Industry experts have expressed optimism about the potential of Mavryk, particularly in light of the increasing interest in RWAs. Tokenizing these assets could unlock liquidity in traditionally illiquid markets, such as real estate and commodities, providing more flexibility for investors. The growing trend of tokenisation is seen as a critical development in the broader blockchain space, with numerous projects exploring the possibilities of converting physical assets into digital tokens.

Mavryk’s focus on RWAs is not the only aspect drawing attention. The platform has also made significant strides in establishing partnerships and collaborations across different sectors. By building strategic alliances with major financial institutions, developers, and technology providers, Mavryk is positioning itself to become a key player in the rapidly evolving blockchain ecosystem. These partnerships are expected to enhance the adoption of the platform, further solidifying its standing in the DeFi space.

The upcoming launch on MEXC will be closely watched by investors and blockchain enthusiasts alike. MEXC’s reputation as a trusted exchange, combined with its extensive user base, could drive considerable interest in the $MVRK token. As one of the top exchanges by trading volume, MEXC provides a platform with significant exposure, which could lead to an influx of liquidity for Mavryk’s ecosystem.

Looking ahead, Mavryk is also exploring the integration of more advanced features to enhance user experience and platform functionality. Among the features in development are enhanced staking mechanisms, cross-chain interoperability, and increased decentralization. These features are expected to complement the core mission of enabling seamless, efficient, and secure blockchain-based asset management.

The GCC debt capital market is gearing up for a surge of new issuances following an active start to the year, despite a quiet period during the early days of August. With the market showing strong resilience, experts predict that the second half of the year could bring new opportunities for issuers, albeit under certain market conditions.

The first half of 2025 witnessed robust activity in the debt market, with significant bond and sukuk issuances across the Gulf Cooperation Council region. Several large corporations, sovereigns, and financial institutions took advantage of favourable conditions, including low interest rates, to raise funds and meet liquidity needs. This rush of issuances demonstrates the ongoing demand for GCC debt despite global economic uncertainties.

Victor Mourad, Co-Head of CEEMEA Debt Financing at Citi, highlighted the market’s performance, noting that the first half was particularly strong. “We had a phenomenal first half,” Mourad said. “The pipeline in the second half could be smaller, unless a drop in rates sparks a pre-funding strategy toward year-end, pulling transactions planned for early 2026 into November.” He pointed out that the timing of issuances would depend on a combination of factors, particularly the interest rate environment.

The market cooled off in the first three weeks of August, a period traditionally marked by lower activity, as many market players take a break before gearing up for the final months of the year. However, Mourad remains optimistic, suggesting that a rate reduction in the coming months could lead to a wave of issuances in the final quarter, as companies and governments look to lock in favourable terms before rates climb again.

Issuers are likely to adopt a strategic approach in the second half, with many considering early funding to avoid higher borrowing costs in 2026. A drop in rates could accelerate this strategy, as issuers push forward deals planned for the following year. It remains to be seen whether this shift in strategy will materialise, but the potential for an uptick in transactions towards the year-end remains high.

Investors will also play a key role in shaping the market dynamics. With yields on GCC bonds still appealing compared to those in other regions, demand for debt from the Gulf is expected to remain strong. The relatively stable economic backdrop, coupled with favourable oil prices, offers an attractive investment proposition for global investors looking for higher returns in a low-interest-rate environment.

Another crucial factor influencing the market will be the sovereign debt landscape across the GCC countries. Governments have continued to implement fiscal reforms and drive diversification efforts, which have bolstered the creditworthiness of the region’s sovereign issuers. As a result, GCC sovereign bonds have become a key asset class for international investors, offering a blend of safety and yield in uncertain times.

Corporate issuers in the region have also adapted to the shifting dynamics. Many have been tapping into the capital markets to fund expansion plans and refinance maturing debt, while also benefitting from government-backed stimulus packages. These initiatives have helped to stabilise the regional economy and offer liquidity to businesses during challenging periods.

However, challenges remain for certain sectors, particularly those heavily reliant on global supply chains or exposed to geopolitical risks. Tensions in the wider Middle East region could create volatility, which might impact investor sentiment. As the global economy continues to grapple with inflationary pressures and tightening monetary policies, GCC issuers will need to balance their strategies carefully to ensure they remain attractive to both local and international investors.

The acquisition will also align with TAQA’s sustainability goals, reinforcing its commitment to providing essential services in the water and energy sectors. With water scarcity becoming an increasingly urgent global issue, TAQA’s foray into water management is expected to play a pivotal role in meeting the needs of populations in water-stressed regions.

TAQA’s investment is seen as a response to the growing demand for sustainable water solutions, especially in the Middle East and North Africa, where the water scarcity issue is particularly pressing. The acquisition of GS Inima gives TAQA access to a portfolio of water treatment facilities, including desalination plants, water treatment plants, and wastewater management projects. These assets will allow TAQA to extend its reach in providing integrated solutions for water supply and wastewater treatment, addressing both operational and environmental challenges.

GS Inima, which has a proven track record in the management and operation of water infrastructure projects, will bring valuable expertise to TAQA. The Spanish company operates in various international markets, including Latin America, the Middle East, and Europe. Its portfolio includes some of the largest and most advanced desalination plants globally, complementing TAQA’s existing energy and water projects in the UAE and other regions.

For TAQA, the acquisition represents a strategic diversification into a critical infrastructure segment. The company has been shifting focus toward renewable energy and sustainable projects, reflecting broader trends in the energy sector. In line with the UAE’s commitment to sustainability, TAQA aims to contribute to global water security while also expanding its renewable energy footprint.

TAQA’s expansion into the water sector also serves as a response to market trends that indicate increasing investments in water infrastructure. According to industry experts, water scarcity is becoming a more pronounced challenge, particularly in urbanising and industrialising regions. The integration of water assets into TAQA’s broader portfolio enhances its ability to deliver sustainable solutions across both the energy and water sectors, offering customers integrated service offerings.

This acquisition also signals a shift in the regional market dynamics, where energy companies are increasingly seeking to tap into water management solutions. With over 50% of the world’s population living in water-scarce regions, the water market is expected to see continued growth. The UAE, known for its ambitious water desalination projects, stands to benefit from TAQA’s increased investment in water infrastructure, ensuring a more sustainable future for its rapidly growing population.

The integration of GS Inima into TAQA’s operations will also provide the company with a solid platform for further expansion. TAQA has been involved in several large-scale water and energy projects in the UAE, such as the development of renewable energy initiatives and large desalination plants. By merging with GS Inima, TAQA can leverage its experience to improve water management solutions worldwide and position itself as a leader in sustainable water resource management.

The plan includes 16 early childhood centres, six new schools, and three international universities. With these additions, the Emirate is strengthening its position as a global education hub. The new schools will offer a variety of curricula, catering to different international standards, while the universities are expected to provide high-quality degree programmes in multiple disciplines. The expansion aligns with Dubai’s strategic vision to position itself as a regional leader in education, attracting international students and families.

The increasing demand for high-quality education in Dubai is driven by a combination of factors. The city’s burgeoning population, especially among expatriates, has created a need for more educational institutions. According to the Knowledge and Human Development Authority, Dubai’s private schools have seen consistent growth over the past decade, with enrolment numbers steadily rising year after year. This demand for diverse and accessible education options has made the expansion of private institutions a top priority for the local government.

Dubai’s early childhood education market has been one of the fastest-growing sectors. The planned 16 new early childhood centres aim to address the gap in early education services, particularly in areas with high residential developments. These centres will cater to children from infancy to six years old, offering quality educational programmes designed to nurture cognitive, emotional, and social development. As more families choose Dubai as their home, there is an increasing need for flexible, high-standard childcare options.

The introduction of new international universities is part of Dubai’s broader strategy to attract higher education institutions from around the world. The city’s academic infrastructure has been steadily growing over the last two decades, with several global universities establishing campuses in Dubai Knowledge Park and Dubai Silicon Oasis. This expansion will further cement Dubai’s status as a destination for world-class higher education, offering a wide range of undergraduate and postgraduate programmes in fields such as technology, business, engineering, and healthcare.

The opening of these institutions also presents significant opportunities for local and international educators. With a large number of expat families residing in the city, the demand for skilled teachers across all levels of education remains high. This expansion will create numerous job opportunities for both local and international educators, particularly in the fields of STEM, which are seeing rising demand.

The 25 new institutions are expected to support Dubai’s broader economic development by equipping the workforce with critical skills needed for the city’s knowledge-driven economy. As Dubai continues to diversify its economy, education plays a crucial role in ensuring that its population is equipped with the expertise required for future industries, such as artificial intelligence, renewable energy, and fintech.

The city’s growth in education is not limited to the expansion of physical infrastructure. The KHDA is also investing in digital learning platforms, enhancing access to education through technology. The shift towards online learning, accelerated by the global pandemic, has influenced Dubai’s educational sector, with many institutions adopting hybrid models of teaching that combine traditional classroom learning with digital tools. These changes aim to make education more accessible and flexible for students of all ages.

Dubai’s vision for 2030 includes further investment in education, ensuring that it continues to attract families and professionals from around the world. As the city’s private education sector evolves, it is set to become an even more attractive option for expatriates seeking world-class education for their children, while also providing opportunities for students to pursue higher education without leaving the region.