Monday 17 May 2021

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Ist IN-PERSON EXPO IN 18 MONTHS
Top travel show opens in Dubai with 1,300 exhibitors

The world’s first in-person international travel trade event in 18 months –the Arabian Travel Market (ATM) 2021 -- opened in Dubai today (May 16) with the participation of over 1,300 exhibitors from 62 countries.

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1

HAMAS CONTINUES ROCKET ATTACK
Israel intensifies assault on Gaza 'metro' tunnels

Israel has intensified its assault on Gaza targeting a network of Palestinian militant tunnels under Gaza that it dubbed “the Metro”, even as Palestinian militants continued to fire rockets into Israel on the fifth day of hostilities.

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2

SAUDI ARABIA TOP IMPORTER
Bahrain-origin exports surge 59% to $778m in April

The value of Bahrain’s exports of national origin increased by 59% to BD295 million ($778million) during April 2021, compared to BD186 million for the same month of the previous year, said the iGA in its latest foreign trade report.

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3

NEWS IN PICS
Fireworks spectacle

A flurry of fireworks soared over Yas Island, Abu Dhabi’s premier leisure and entertainment hub, on May 13 in celebration of Eid al-Fitr.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Saudi Arabia to build 53,000 new residential units in Riyadh

Saudi Crown Prince HRH Muhammad Bin Salman, the Deputy Prime Minister and Minister of Defence, has issued a directive allocating a total area of 20 million sq m in the north of Riyadh for the construction of 53,000 new residential units, said a report.

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Retail & Wholesale

Carrefour lands a new store at Dubai International (DXB)

With travel restrictions easing across the world, Carrefour – owned and operated by Majid Al Futtaim in the UAE – has opened a new store at the world’s busiest international airport, DXB, to make shopping more convenient than ever.

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Energy, Oil & Gas

Masdar seals big Greek solar plant investment deal

Abu Dhabi's Masdar has joined hands with Taaleri Energia, a Greek investor in utility-scale wind and solar assets, to develop a 65MW solar plant. The project, which is Masdar's first investment in the Greek market, will be managed through its new JV firm.

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Finance & Capital Market

National Bank of Bahrain's Q1 net profit soars to $41m

National Bank of Bahrain (NBB) has reported a 1.3 per cent increase in its net profit for the first quarter which soared to BD15.6 million ($41.4 million) from BD15.4 million ($40.8 million) last year. This growth was predominantly due to lower provisioni

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Analysis, Interviews, Opinions

Clean energy demand for critical minerals set to soar: IEA

Supplies of critical minerals essential for key clean energy technologies like electric vehicles and wind turbines need to pick up sharply over the coming decades to meet the world’s climate goals, said the IEA in a new report.

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Industry, Logistics & Shipping

RAK Ceramics' Q1 revenue up 22pc, gross profit margins at new high

RAK Ceramics, a leading ceramics brand based in Ras Al Khaimah, UAE, said it has surpassed the pre-pandemic levels of operation, with record levels of revenue for Q1 - which surged by 22 per cent to hit AED723 million ($197 million) - and profitability.

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Travel, Tourism & Hospitality

Etihad Airways launches home check-in service

UAE national airline Etihad Airways has announced a partnership with DUBZ, powered by dnata, to make it easier for passengers to check in their bags, pick their seats and collect their boarding passes and luggage tags from their homes in Abu Dhabi.

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IT & Telecommunications

Ericsson launches 5G-ready wireless office

Ericsson has launched a 5G-ready virtual workspace service that removes the dependency of in-house IT expertise, physical instalments and devices while providing reliable and secure network access anywhere and anytime.

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Lifestyle

Kone develops new tech solution for wheelchair users

Kone, a global leader in the elevator and escalator industry, said it has developed a new technology solution designed to enable wheelchair users to navigate modern buildings more easily by connecting elevators and wheelchairs.

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Motoring

Renault rolls out custom-built model for Mideast market

Renault Trucks, a leading provider of a range of commercial vehicles for distribution, heavy construction and the long-haul segment, has announced the launch of its new custom-built model, the Renault Trucks T X-64, in the Middle East market.

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Health & Environment

Riyad Bank in deal to set up new hospital in Makkah

Saudi-based Riyad Bank has signed an agreement with Bab Al Khair Medical Services for the establishment of a new hospital in Makkah. More non-profit health and education community initiatives will be introduced across the country in the coming period.

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Media & Promotion

Bahrain's mega $221m expo centre project on track

Work is moving at a steady pace on the new Bahrain International Exhibition and Convention Centre in Sakhir with 30 per cent project already completed. The upcoming BD84-million ($221 million) facility will include 10 expo halls covering 95,000 sq m.

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Education, HR & Training

Cisco Ranks number 1 on list of Saudi Arabia’s greatest workplaces

Global research, training and consultancy firm, Great Place to Work Middle East (GPTW) has recognised Cisco as the frontrunner in its 'Best Workplaces in the Kingdom of Saudi Arabia 2021' rankings – moving from second to first position this year.

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Miscellaneous

Agthia Group Q1 revenues surge 17% to $181m

Agthia Group, a leading regional food and beverages company, has posted total revenues of AED665.5 million ($181 million) for the first quarter (Q1) of the year, resenting 17% growth compared to the same period in 2020.

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