Smart Infrastructure MENA

ADDC and Abu Dhabi University to advance innovation in utility sector

The Abu Dhabi Distribution Company (ADDC), a subsidiary of Abu Dhabi National Energy Company (TAQA Group), has signed a memorandum of understanding (MoU) with Abu Dhabi University (ADU) to accelerate technical, societal and environmental solutions in the energy sector through research and development. The cooperation aims to promote ties between both entities through training programs and knowledge exchange.

Enough with Covid19

The Corona virus-laden two years drastically transformed how the world operated and functioned. Both governments and their citizens were compelled to go through circumstances that had not been figured in the slightest imagination. Overnight, the system of work, education, social lives, travel, and supply chain took a hit, leaving us to reel under utter confusion and potential loss of lives.

UAE to have world's first regulated carbon trading and clearing house

The world’s first fully regulated carbon trading exchange and carbon clearing house is set to be established in Abu Dhabi, the capital of the UAE.

Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, has partnered with AirCarbon Exchange (ACX) to become the first jurisdiction globally to regulate carbon credits and offsets as emission instruments, and to issue licenses for exchanges to operate both spot and derivative markets.

The regulatory framework will allow corporates to trade and finance carbon credits like conventional financial assets, thus increasing participation and investment in global carbon reduction and offset programmes.

Scheduled to be officially launched later this year, ACX will be established as a Recognised Investment Exchange (RIE) and regulated by ADGM. As a regulated RIE, ACX aims to offer its market participants and customers efficient trading and a regulated transparent price discovery mechanism.

In addition, ACX aims to set up a regulated Recognised Clearing House (RCH) – which will be known as ACX Clearing Corporation - for the purposes of custodising, clearing and settling commodities and commodity derivatives.

ACX intends to initially use its distributed ledger technology within a traditional commodity trading construct to create tokenised carbon credits for spot trading. At a later stage, ACX plans to offer carbon credit futures as commodity derivatives for trading. All digital tokens will be custodised by the RCH, settled and cleared using the RCH’s blockchain smart contracts providing efficient settlement for all spot transactions.

Yahsat bags $248 mln UAE government contract

Yahsat, UAE’s flagship satellite solutions provider has announced that its dedicated government arm, Yahsat Government Solutions (“YGS”), has been awarded a AED 909.5 million (USD 247.5 million) mandate to provide enhanced managed services to the UAE government for its satellite communications capabilities. The agreement augments the previous operations and maintenance services provided, to include technology management support, from January 2022 until the end of 2026.

solutions by stc to develop projects for Saudi vision 2030

Honeywell and solutions by stc, have signed a Memorandum of Understanding (MoU) to help develop strategic mega projects across the Kingdom in support of Saudi Vision 2030 and its efforts to create a more diverse and sustainable economy and accelerate digital transformation.

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