Masdar City and Mashreq Bank have signed a Memorandum of Understanding (MoU) to provide financial services to Small and Medium-sized Enterprises (SMEs) and start-ups based in the City. This will include easy access to NeoBiz, the bank’s first digital banking platform designed specifically for start-ups and SMEs.
The MoU was signed by Abdulla Balalaa, executive director of Masdar City, and Vikas Thapar, executive vice president, head of Business Banking & NeoBiz at Mashreq Bank, at an official ceremony this week.
Balalaa said, “Masdar City is currently home to more than 1,000 companies, including a wide range of innovation-focused SMEs and start-ups. Through this strategic collaboration with Mashreq Bank, companies in Masdar City will have direct access to the bank’s cutting-edge suite of specially designed services to facilitate the upscaling of their operations.
“The City is Abu Dhabi’s only planned and approved R&D cluster. To businesses, we offer a unique ecosystem of education, R&D, and innovation, that allows them to develop and thrive and supports Abu Dhabi’s position as a world-leading business destination. At Masdar City, we are shaping and incubating the sustainable industries of tomorrow, and we look forward to adding Mashreq Bank to our valuable list of partners.”
Thapar stated that the agreement will enable Mashreq Bank to increase customer acquisition while also raising awareness of the bank’s digital platforms.
“Our commitment to fostering the SME ecosystem and efforts to catalyse SME development led to the development of NeoBiz and its suite of specially designed services. Through this partnership, Masdar City-based businesses will reap the benefits of NeoBiz, Mashreq Bank’s first start-up/SME focused digital banking platform, giving them further opportunity to adapt and grow rapidly,” Thapar added.
Via its Free Zone, Masdar City already offers easy access to a range of vital business services and benefits, including registration, government relations, visa processing, 100 per cent foreign ownership; 0 per cent import tariffs; dual-licensing; a rapid set-up process; reduced tax footprint, highly cost-effective licensing and office space, and a pro-business environment, access to R&D partnerships, and the freedom of repatriation of both capital and profits.
The City is also home to a range of international organisations, including the International Renewable Energy Agency, the UAE Space Agency, the regional headquarters of Siemens Energy, G42 Healthcare, the Advanced Technology Research Council, and the world’s first university dedicated to artificial intelligence, the Mohamed bin Zayed University of Artificial Intelligence.
Etihad Rail has finally revealed the first routes on its much-anticipated passenger network, and Dubai is right at the heart of it. The opening phase, set to launch in 2026, will connect Abu Dhabi, Dubai and Fujairah, creating a major rail corridor linking the UAE’s key commercial hubs with the east coast.
The initial rollout will focus on high-demand routes, starting with frequent services between Abu Dhabi and Dubai, followed by a direct connection to Fujairah. More routes and stations are expected to come online later in 2026 and beyond as demand grows.
For Dubai commuters, it’s all about saving on travel time. Journeys between Dubai and Abu Dhabi are expected to take around one hour, while trips from Abu Dhabi to Fujairah will take about 90 minutes. Trains will run at speeds of up to 200 km/h and carry up to 400 passengers, offering a fast alternative to increasingly congested highways.
The Abu Dhabi–Dubai route is expected to see the most frequent services. The Fujairah connection, meanwhile, is designed to boost tourism and improve access to the UAE’s east coast.
Station locations were chosen based on population density and connectivity.
The first passenger stations will be located in Mohamed bin Zayed City (Abu Dhabi), Jumeirah Golf Estates (Dubai), and Sakamkam near Al Hilal City (Fujairah), marking a major step toward a nationwide rail network that could reshape how people move across the UAE.
If you’re planning to drive around University City in the coming weeks, take note: the Sharjah Roads and Transport Authority (SRTA) has announced a partial road closure leading to University City Hall as part of preparations for the upcoming Sharjah Lights Festival.
The closure, which began on Tuesday, January 20, will remain in place until Sunday, March 1, coinciding with the festival period. Authorities say the move is aimed at improving traffic management and ensuring the safety of all road users during the busy event season.
Only a portion of the road leading directly to University City Hall will be affected, with traffic continuing to flow through temporary diversions and alternative routes that have already been approved and put in place.
SRTA said the closure forms part of a wider traffic plan developed in coordination with Sharjah Police and other relevant departments, anticipating increased traffic volumes during the festival. The goal is to maintain smooth access for visitors and participants while minimising congestion within University City and the surrounding areas.
To support drivers, authorities have set up clear directional signage, temporary road markings, and alternative routes around the closure zone, ensuring travel times and service quality remain largely unaffected.
Motorists are advised to follow posted detours, comply with instructions from authorities on the ground, and pay close attention to traffic signs to help keep everyone safe and traffic moving smoothly throughout the closure period.
If you’re planning to host Iftar or Suhoor gatherings this Ramadan, Abu Dhabi’s Department of Municipalities and Transport has laid out clear guidelines for setting up Ramadan tents, and the good news is, the permit process is free and simple.
Companies and eligible applicants can obtain official approval to install temporary Ramadan tents by logging in with a digital ID, submitting an application, and receiving authorisation, with no additional documents required.
However, there are strict rules to follow.
Key conditions for setting up a Ramadan tent
Only one tent is allowed outside the plot’s boundary
The tent must not exceed 60 square metres in area
Maximum height allowed is 5 metres
The tent must be installed only in front of the plot owner’s residence, between the plot boundary and the sidewalk
Approved materials include traditional tent fabrics such as wool, Bedouin textiles, tarpaulins, and similar materials
What’s not allowed
Blocking streets, sidewalks, or public services
Excavation work of any kind
Installing tents over service structures or annexes
Using cooking equipment or charcoal
Any activities involving selling, buying, renting, or promoting
Important responsibilities to note
Permit holders are fully responsible for any damage caused to public or private property during the installation or removal of the tent. Installing a tent in an unauthorised location is considered a violation and may lead to legal action.
Authorities also reserve the right to demand the immediate removal of a tent in cases of emergencies, complaints, or violations of permit conditions.
Additionally, permit holders must exempt the Municipality from any claims or liabilities raised by other entities related to the use of the permit.
While setting up a Ramadan tent in Abu Dhabi is easy and free, following the rules is essential to avoid fines or removal.