Thursday 23 February 2017

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OVER 30km STRIKE RANGE
UAE Navy awards anti-ship missile contract to MBDA

The UAE Navy has awarded a contract to MBDA, a world leader in missile systems, to supply additional Marte MK2/N anti-ship missiles, the company announced at the International Defence Exhibition, Idex 2017 in Abu Dhabi, UAE.

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1

IDEX EXHIBITION
UAE Armed Forces sign $925m deals

The UAE Armed Forces has announced 20 new deals worth over Dh3.4 billion ($925.7 million) on the fourth day of the International Defence Exhibition and Conference, Idex 2017 in Abu Dhabi.

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2

7th STADIUM DEAL AWARDED
Qatar-Turkey JV wins World Cup stadium contract

Qatar has signed up a joint venture between leading construction group Al Jaber Engineer (JEC) and Turkish construction major Tekfen Construction, as the main contractor for a 2022 FIFA World Cup stadium in capital Doha.

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3

SPECIAL REPORT
Seven Earth-size planets found, may hold life: Nasa

Nasa has found a solar nearby solar system with seven Earth-size planets, with three of them orbiting at the right distance for liquid surface water, enhancing the prospects of discovering extraterrestrial life.

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4

ANALYSIS
Oil to average $50 to $70 through 2022: report

Brent crude oil prices will average $50 to $70 per barrel through 2022, according to an annual medium-term supply/demand analysis conducted by Bank of America Merrill Lynch (BofAML).

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5

NEWS IN PICTURES
Oscar makeover

Oscar statues wait to be placed on the red carpet and in the Kodak Theatre during preparations for the 89th annual Academy Awards on Sunday in Hollywood, Los Angeles on February 22.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Qatar-Turkey JV wins World Cup stadium contract

Qatar has signed up a joint venture between leading construction group Al Jaber Engineer (JEC) and Turkish construction major Tekfen Construction, as the main contractor for a 2022 FIFA World Cup stadium in capital Doha.

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Retail & Wholesale

Gitex Shopper to feature exclusive offers

Savvy shoppers are gearing up for exclusive offers and unbeatable deals on the latest consumer tech products, as the region’s largest consumer electronics show, Gitex Shopper Spring 2017 returns to Dubai, UAE next month.

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Energy, Oil & Gas

Saudi Aramco commissions first home-built rig

A new drilling rig, designed by Saudi Aramco engineers and built according to the company’s specifications, has started drilling its first well, marking a milestone as the company moves toward greater localization of drilling services.

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Finance & Capital Market

DFSA signs MoU with European authority

Dubai Financial Services Authority and the European Securities and Markets Authority have entered into an MoU regarding DIFC-based central counterparties compliance with conditions set out in the EU's Market Infrastructure Regulation.

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Analysis, Interviews, Opinions

Oil to average $50 to $70 through 2022: report

Brent crude oil prices will average $50 to $70 per barrel through 2022, according to an annual medium-term supply/demand analysis conducted by Bank of America Merrill Lynch (BofAML).

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Industry, Logistics & Shipping

RAK Precast deploys Acotec panel PRO technology

RAK Precast, a company based in Ras Al Khaimah, UAE, said it is set to install Elematic Acotec PRO production line at its Dubai plant to boost the company's production of light, non-load bearing interior precast partition wall panels.

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Travel, Tourism & Hospitality
Lifestyle

Saudi women cosmetics market to grow 11pc

Aggressive advertising coupled with increasing disposable income will see the market of women cosmetics in Saudi Arabia grow at a compunded annual growth rate (CAGR) of over 11 per cent during 2017 - 2022, a report has revealed.

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Motoring

RTA completes Phase I of smart parking project

Roads and Transport Authority (RTA) has completed the initial phase of the smart parking project covering controlled parking at Al Rigga and the World Trade Centre areas at the Sheikh Zayed Road in Dubai, UAE.

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Health & Environment

Transguard opens staff health clinic in Jebel Ali

UAE-based Transguard Group, a top business support services firm, and UAE healthcare provider Al Tadawi Medical Centre have opened a medical facility in Transguard’s employee accommodation facility in Jebel Ali.

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Media & Promotion

Bahrain gears up for 10-day food festival

More than 50 prominent food industry outlets will be taking part in this year's ‘Bahrain Food Festival,’ which kicks off on February 25 and will run for the next 10 days attract food enthusiasts from the kingdom and the neighbouring GCC countries.

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Education, HR & Training

Alba signs MoU with Bahrain Polytechnic

Aluminium Bahrain (Alba), the Bahrain-based international aluminium smelter, recently signed a Memorandum of Understanding (MoU) for co-operation with Bahrain Polytechnic.

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Miscellaneous

Wish to serve the taste of UAE at Expo? register now

Expo 2020 Dubai has launched a search for producers of authentic Emirati and regional products including dates, Arabian coffee and sweets, chocolate and spices, which will form part of a warm welcome offered to Expo’s millions of visitors.

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