Tuesday 19 June 2018

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STRATEGIC ALLIANCE
Saudi Arabia, Russia to invest $2bn in tech projects

The Russian Direct Investment Fund (RDIF) together with partners from Saudi Arabia intend to invest $2 billion in technology projects in 2019, head of RDIF Kirill Dmitriev was quoted as saying in a media report.

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45m GALLON DESAL PROJECT
Acwa Power named preferred bidder for UAE IWP

A consortium led by Saudi-based Acwa Power and Tecton Engineering and Construction has emerged as the preferred bidder for a 45 million imperial gallons per day desalination independent water project in the UAE emirate of Umm Al Qaiwain.

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2

PRODUCTION FREEZE MAY END
Opec members to decide on raising oil production

Members of the Organisation of the Petroleum Exporting Countries (Opec) will meet in Vienna this week to decide on whether to end its production freeze, a market expert has revealed.

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3

ANALYSIS
Cellular IoT deployments to hit 3.5bn in 2023: study

Cellular IoT connection deployments are expected to nearly double since November 2017 to reach an estimated 3.5 billion in 2023, driven by ongoing large-scale deployments in China, said Ericsson in a new report.

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4

ANALYSIS
Cybersecurity risks ‘threatening blockchain growth’

Even as the blockchain technology market is expected to reach $9.6 billion by 2024, device-to-cloud cybersecurity company McAfee sees a big potential for cybersecurity risks that could threaten the technology’s rapid growth.

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NEWS IN PICTURES
Spectacular ice show

Prepare to be dazzled by Mickey Mouse and his friends this Eid as they perform spectacular ice-skating feats in an all-new live family musical show at the Bahrain International Exhibition and Convention Centre.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Acwa Power named preferred bidder for UAE IWP

A consortium led by Saudi-based Acwa Power and Tecton Engineering and Construction has emerged as the preferred bidder for a 45 million imperial gallons per day desalination independent water project in the UAE emirate of Umm Al Qaiwain.

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Retail & Wholesale

City Centre Ajman adds new stores, F&B outlets

Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer in the region, has added 18 new international stores and restaurants at City Centre Ajman as part of its Dh643 million ($175 million) enhancement project.

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Energy, Oil & Gas

Dewa commissions 15 substations worth $471m

Dubai Electricity and Water Authority (Dewa) has commissioned 15 132/11 kV substations as of May 20 at a total cost of AED 1.73 billion ($471 million), supporting the ambitious national development plans.

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Finance & Capital Market

UAE launches new e-services for taxable persons

UAE’s Federal Tax Authority has developed its e-services to include new features allowing taxable persons to link their accounts with an accredited tax agency, authorising it to carry out registration procedures and submit tax returns.

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Analysis, Interviews, Opinions

Blockchain – Game changer or ‘Slow Burn’?

Most people associate blockchain with cryptocurrencies such as Bitcoin. However, blockchain is now being billed as a technology that will improve visibility, productivity and security for business, says an industry expert.

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Industry, Logistics & Shipping

Stable outlook for shipping firms on earnings growth

The outlook for the global shipping sector for the next 12 months remains stable on the back of expected supply-demand improvements in the dry bulk and container shipping segments said Moody's Investors Service in a new report.

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Travel, Tourism & Hospitality

Explore Dubai without leaving the airport

Dubai Tourism has launched a new, technologically-advanced digital installation that allows passengers passing through DXB to tour the emirate without leaving the airport, said a report

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IT & Telecommunications

Security awareness ‘stalled by lack of resources’

Cyber security awareness programmes are beginning to gain ground among businesses, but that many of the professionals responsible for their implementation are challenged by a lack of time, budget and resources, a report said.

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Lifestyle

The Pearl of Bahrain watch auctions for over $250,000

A rare 1958 Patek Philippe watch has been auctioned off for CHF 250,000 ($253,360) at Christie’s Rare Watches auction, which was held at the Four Seasons Hotel des Bergues last month.

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Media & Promotion

Reel Cinemas to launch UAE's first ScreenX at Dubai Mall

South Korea's CJ 4DPlex has joined hands with UAE's Reel Cinemas to set up the first ScreenX - the world's first multi-projection system that provides a 270-degree panoramic film viewing experience within a theatre setting - in Dubai.

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Education, HR & Training

Fujairah, Grenada varsity sign medical study pact

St George’s University (SGU), the international medical school on the Caribbean island of Grenada, has signed a cooperation agreement with the Government of Fujairah, UAE to explore collaboration in medical related studies.

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Miscellaneous
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