Wednesday 25 November 2020

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DEWA'S FIRST IWP PROJECT
Utico emerges preferred bidder for 120 MIGD Dubai desal plant

Utico, a leading water and power company in the UAE, has been named the preferred bidder for the construction and operation of a 120 million gallons per day (MIGD) sea water reverse osmosis (SWRO) plant in Dubai.

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1.7m REQUESTS PROCESSED
Emirates completes refunds backlog; $1.72bn returned

Delivering on its customer promise, Emirates has completed an intensive programme to clear its backlog of refund requests which was caused by pandemic-related travel disruption.

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TOP GOVT BODIES IN ACTION PLAN
Dubai launches initiative to become cashless society

The Government of Dubai has formed the ‘Cashless Dubai Working Group’ bringing together major entities to create an action plan to shift all payment transactions in Dubai to secure and easy-to-use cashless platforms across sectors.

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ANALYSIS
E-commerce sales slump in developing countries

Even though Covid-19 has pushed more consumers in developing countries to buy online, many e-commerce businesses in these nations have seen a slump in sales, said the UN Conference on Trade and Development (UNCTAD) in a new report.

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SPECIAL REPORT
Healthcare most innovative industry in 2020: GE

The healthcare industry has outperformed all other sectors with respect to innovation progress in 2020, 9% more than the next most innovative industry, the telecoms/internet industry, according to the latest GE Global Innovation Barometer.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Emaar, Arada launch Vida Residences Phase I units sale

Emaar Hospitality, the hospitality arm of Dubai developer Emaar Properties, has joined hands with leading UAE developer Arada to officially launch the first phase of off-plan sales for the 250-unit Vida Residences Aljada in Sharjah.

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Retail & Wholesale

Arabian Centres to build second shopping centre in Madinah

Arabian Centres, a leading owner, operator and developer of contemporary lifestyle centres in Saudi Arabia, has announced plans to build an outdoor shopping centre, Boulevard U Walk, at a prime location in Madinah, its second venture in the city.

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Energy, Oil & Gas

Dubai announces opening of Phase III of Maktoum Solar Park

Dubai Electricity and Water Authority (Dewa) has announced the opening of the Innovation Centre and the 800MW third phase of Mohammed bin Rashid Al Maktoum Solar Park, the largest single-site solar park built at a cost of Dh50 billion ($13.6 billion).

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Finance & Capital Market

Abu Dhabi Islamic helps Emirati investor to buy UK business park

Abu Dhabi Islamic Bank said it has provided AED91 million ($25 million) in Sharia’a-compliant structured financing for a private UAE-based client towards acquisition of a Dh141 million ($38.3 million) business park at Dorset on the UK’s south coast.

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Analysis, Interviews, Opinions

The investment scene in the UAE today

The UAE saw an FDI increase by 32% between 2018 and 2019, reaching $13.8 billion, said an industry expert, adding that industrial diversification, investment deregulations, and higher availability of free-trade zones have driven this success.

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Industry, Logistics & Shipping

SAIF Zone, HFZA ink deal with Sharjah Municipality

Sharjah International Airport Free Zone (SAIF Zone) and Hamriyah Free Zone have jointly signed a deal with Sharjah Municipality to support their digital transformation vision, enhance mutual cooperation and upgrade work mechanisms.

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Travel, Tourism & Hospitality

Accor plans 112 new properties in expanded MEA region

Accor, a world-leading augmented hospitality group, has added India and Turkey to its Middle East & Africa region. The newly expanded region will now comprise a portfolio of more than 84,000 rooms across 400 hotels.

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IT & Telecommunications
Lifestyle

New IKEA store opens in Abu Dhabi shopping, lifestyle hub

Al Wahda Mall, a leading shopping and lifestyle destination in Central Abu Dhabi, has announced the opening of its new IKEA store. This is the Swedish home furnishing retailer's second outlet in the emirate and the fifth in the UAE.

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Health & Environment

1,000 young energy voices speak up on climate threat

A 1,000-strong body of young people coming up through the ranks in the global energy sector have sent an unambiguous message to leaders in their own industry and governments that action on climate change was not fast enough.

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Media & Promotion

MBC Group, Rotana Media Group sign landmark deal

MBC GROUP and Rotana Media Group, the largest media companies in the Middle East & North Africa (Mena) region are joining forces to bring Rotana’s TV channels to Shahid VIP, MBC’s premium subscription video on demand (SVOD) platform.

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Education, HR & Training

UAE approves full foreign ownership of commercial firms

UAE has announced the complete overhaul of foreign ownership rules for commercial companies, as part of the government’s ongoing efforts to ensure a conducive legislative environment and open up economy to all nationalities.

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