Sunday 22 July 2018

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RUSSIA TOP SOURCE MARKET
RAK records double-digit visitor growth in first half

Ras Al Khaimah Tourism Development Authority (RAKTDA) has announced a 14 per cent increase in international visitors during the first six months of the year.

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1

MOMENTUM ‘TO STAY ROBUST’
Kuwait consumer spending rebounds in June: NBK

Kuwait’s consumer spending index increased 8.5 per cent year-on-year (y/y) in June, supported by a pickup in the consumption of durables and non-durables, said the National Bank of Kuwait (NBK) in its latest Economic Update.

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2

JINPING ON LANDMARK UAE VISIT
UAE, China sign deal on Silk Road initiative

The UAE government has signed an agreement with China for joint co-operation on the Silk Road Initiative and the 21st Century Maritime Silk Road Initiative during the landmark visit of Chinese President Xi Jinping.

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3

SPECIAL REPORT
GCC corporate, infrastructure sukuk issuance muted in H1

Corporate and infrastructure sukuk issuance in the Gulf region remained muted in the first half owing to two major factors - relatively limited investment programmes and the global investors' perception of the looming GCC risk, said a report.

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4

SPOTLIGHT
IMS, commercial VoLTE ‘key to 5G voice solution’

Deploying the IMS (IP multimedia subsystem) and accelerating the commercial use of VoLTE are the only way to move towards Vo5G (Voice over 5G), said Huawei in its newly released Vo5G Technical White Paper.

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5

NEWS IN PICTURES
Light Up for Inclusion

In support of the Special Olympics “Light Up for Inclusion” campaign, state-owned holding company Mubadala illuminated the IPIC Square and Abu Dhabi Global Market in the UAE capital.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Al Naboodah wins $204m UAE construction project contracts

UAE-based Al Naboodah Construction Group (ANCG) said it has secured new contracts worth over Dh750 million ($204 million) including those related to construction of buildings; roads and street light work and setting up of four new substations in Dubai.

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Retail & Wholesale

Reem Mall appoints digital experience manager

Reem Mall, an up and coming retail, dining, leisure and entertainment destination in Abu Dhabi, UAE has appointed Milat Sayra Berirmen as digital experience manager.

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Energy, Oil & Gas

Saudi Maaden unit seals new loan amendment deal

Saudi mining giant Maaden said one of its subsidiaries has signed an agreement with Public Investment Fund to amend the terms of its SR3.7 billion ($1 billion) existing loan which has been reduced to SR3.51 billion through previous repayments.

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Finance & Capital Market

Dubai eyes stronger business ties with Egypt

Dubai FDI, the investment development agency of Dubai Economy Department (DED), recently held a meeting with high-level Egyptian delegates from the General Authority for Investment and Free Zones.

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Analysis, Interviews, Opinions

GCC corporate, infrastructure sukuk issuance muted in H1

Corporate and infrastructure sukuk issuance in the Gulf region remained muted in the first half owing to two major factors - relatively limited investment programmes and the global investors' perception of the looming GCC risk, said a report.

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Industry, Logistics & Shipping

UAE, China to build market for farm, livestock products

The UAE and China have ratified two memorandums of understanding (MoUs) to strengthen agricultural cooperation and jointly build a wholesale market for agricultural, livestock and fishery products, said a report.

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Travel, Tourism & Hospitality

RAK records double-digit visitor growth in first half

Ras Al Khaimah Tourism Development Authority (RAKTDA) has announced a 14 per cent increase in international visitors during the first six months of the year.

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IT & Telecommunications

‘VAT drives 20,000 UAE firms into digital accounting’

Since the launch of value-added tax (VAT), more than 20,000 small businesses in the UAE have shifted from manual to digital accounting following the mandate issued by UAE government to submit tax returns online, said a top official.

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Lifestyle
Motoring

Dubai to kick-off lifetime registration of cars

Dubai Roads and Transport Authority (RTA) has launched the third and final phase of Vehicle e-Registration, enabling individuals to replace their existing vehicle registration cards by lifetime e-Registration, as of August 1.

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Health & Environment

100 UAE patients use new gastric balloon procedure

One hundred obese or overweight individuals in the UAE have taken advantage of the new Ellipse Gastric Balloon to lose weight and to decrease its associated medical conditions, according to Dr Wael Dahhan at Emirates Hospital, Dubai.

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Media & Promotion

Forbes unveils top Arab stars on global stage

Forbes Middle East, a licensee of Forbes Media, has published a new annual ranking unveiling the biggest and most successful “Arab Stars on the Global Stage”.

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Education, HR & Training

NGN unit becomes VMware training centre in Bahrain

NGN International, a systems integrator and IT consulting firm, said its unit has become a VMware authorised training centre in Bahrain. This authorisation will enable Bahraini nationals to earn VMware certification with Tamkeen support.

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Miscellaneous

Sharjah plans to set up new botanical garden

Sharjah government has announced plans to set up a new botanical garden over a sprawling 600,000 sq m area adjacent to the New Mosque on the Sharjah-Kalba intersection with Emirates Bypass Road, said a report.

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