Thursday 17 January 2019

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MASTERPLAN GETS BOARD APPROVAL
Saudi PIF to start work on Neom Bay project in Q1

Saudi Arabia's Public Investment Fund (PIF) said its founding board has approved the masterplan for Neom Bay, a eco-friendly tourist destination at its $500-billion futuristic city. Work will start on the high-end project in the first quarter.

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DISCOVERY OF NEW RESERVES
Gas pipeline infrastructure market to hit $2 trillion by 2024

Growing discoveries of unconventional reserves coupled with the increasing number of gas-fired power generation stations across the globe will drive the gas pipeline infrastructure market size to a whopping $2 trillion by 2024, said a report.

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2

CB&I AMMONIA STORAGE TANKS
McDermott wins Daelim Saudi Arabia project contract

McDermott International said it has been signed up by Daelim Saudi Arabia Company to provide engineering, procurement and construction (EPC) services for CB&I storage tanks at an ammonia plant in the Ras Al Khair area of the kingdom.

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ANALYSIS
Retailers bullish on hybrid cloud: Nutanix report

The retail industry has the second largest penetration of hybrid cloud deployments at 21 per cent; with 93 per cent identifying hybrid cloud as the ideal IT model, outpacing the global average for other industries, a report said.

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4

ANALYSIS
Top tips for online shoppers against cyber threats

While e-commerce enjoys rapid growth, global attack trends indicate that the retail support sector continues to be a popular target for cybercriminals, said industry experts listing top tips for protection against cyber threats.

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NEWS IN PICTURES
Meet and greet

AC Milan stars Calhanoglu, Conti, Cutrone, Paqueta’, Borini and the legendary Daniele Massaro recently met with die-hard fans in Saudi Arabia during a special meet-and-greet session hosted by Italian denim brand Diesel.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Besix wins DMCC Uptown Dubai super tall tower deal

DMCC, the world’s premium free zone and the master developer of Jumeirah Lakes Towers (JLT), said it has awarded a key contract to Belhasa Six Construct, for the construction of the first super tall tower at its Uptown Dubai district.

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Retail & Wholesale

Danish retailer JYSK launches furniture design contest

Danish retail chain JYSK, pronounced ‘yusk’, has launched a new competition to give aspiring designers the opportunity to have one of their creations made and sold in its stores and win Dh10,000 ($2,720) in the process.

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Energy, Oil & Gas

Masdar-led consortium wins $500m Saudi wind farm project

Abu Dhabi-based Masdar said its consortium with French renewable energy EDF Energies Nouvelles has been awarded the contract to build the $500-million Dumat Al Jandal project, the first utility-scale wind farm in Saudi Arabia.

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Finance & Capital Market

Emirates NBD 2018 profit surges 20pc to record $2.72bn

Dubai-based Emirates NBD, a leading bank in the region, has posted a record net profit of Dh10 billion ($2.72 billion) for 2018, marking a 20 per cent year-on-year growth.

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Analysis, Interviews, Opinions

Three reasons the future is all electric

The energy system shows major limitations as the world’s development accelerates at an ever-faster pace, said an industry expert, listing three reasons the future is all electric.

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Industry, Logistics & Shipping

Siemens wins first N American gas processing plant deal

Siemens said it has won a major contract from top North American group Encana to provide one feed and sales gas train and a refrigeration compression train for its pipestone processing facility in Alberta, Canada.

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Travel, Tourism & Hospitality

Air Arabia Egypt launches new flights to Jordan

Air Arabia Egypt has started new direct flights connecting Sharm El Sheikh to Amman, the capital city of Jordan. The flight operates twice a week, on every Sunday and Wednesday.

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IT & Telecommunications

MEA wireless headsets market ‘to top $890m by 2023’

The Middle East & Africa wireless headsets market is projected to reach $894 million by 2023, according to a new report by TechSci Research, a research based global management consulting firm.

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Lifestyle

Rapport London products now in Dubai

The finest luxury watch accessories, jewellery boxes and timeless horological gifts are now available at Ahmed Seddiqi & Sons in Dubai Mall, following an exclusive partnership with British retailer, Rapport London.

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Motoring

Nissan unveils LEAF e+, expands power, range

Japanese automaker Nissan today (January 9) unveiled the Nissan LEAF e+, further broadening the appeal of the world’s best-selling electric car by offering a new powertrain with additional power and range.

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Health & Environment

Arzan plays key role in US medical office building deal

Dubai-based Arzan Wealth said it has played a key advisory role on the purchase of a portfolio of four micro-hospitals and medical office buildings leased to a joint venture between Integris Health and Emerus Holdings located in Oklahoma, US.

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Media & Promotion

ABC Bahrain sets record; generates 5m business referrals in 2018

Bahrain-based Arabian Business Community (ABC) has generated a record 5 million business referrals to companies in 2018. ABC, the go-to resource for company and contact information, has 14 databases covering the entire GCC region.

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Education, HR & Training

AstraZeneca 'best place to work in Lebanon'

AstraZeneca, a multinational pharmaceutical company, has topped the list of the best places to work in Lebanon for 2018, according to an annual survey conducted by the global research firm BPTW in partnership with Best Companies Group US.

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Miscellaneous

US Army announces start of big Syria withdrawal

The US military has begun withdrawing troops from Syria, initiating a drawdown that has blindsided allies and sparked a scramble for control of the areas that American troops will leave. The US has 2,000 troops in the country, said a report.

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