Tuesday 4 August 2020

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FIRST HOMES IN DEC 2021
Arada awards contract for Phase 2 of Sharjah megaproject

UAE-based Arada, a leading real estate developer, has awarded a major contract valued at AED423 million ($115 million) to build East Village, the second phase of Sharjah’s AED24 billion ($6.5 billion) mixed-use district Aljada.

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1

MIGRANT WORKERS HARDEST HIT
Mideast remittances to Asia to fall by $22.5bn in 2020

Remittances from the Middle East to Asia are expected to fall by $22.5 billion during 2020, accounting for 41.4% of the total remittance loss in Asia, said the Asian Development Bank in a new report.

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2

CLEAN ENERGY BOOST
UAE marks historic milestone, starts up Barakah plant Unit 1

The Emirates Nuclear Energy Corporation (Enec) has announced that its operating and maintenance subsidiary, Nawah Energy Company, has successfully started up Unit 1 of the Barakah Nuclear Energy Plant located in the Al Dhafrah region of Abu Dhabi.

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3

SPECIAL REPORT
5G handset production to hit 235m units in 2020

Given the total smartphone production forecast of 1.24 billion units in 2020, 5G handset production is expected to reach 235 million units, an 18.9% penetration rate, said world leading market research firm TrendForce in a new report.

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4

SPOTLIGHT
ME consumers increasingly shopping online: report

Fifty-three per cent of residents in the Middle East responding to a survey said they are shopping more online using their smartphone (computer 39%, and tablet 31%) in response to the pandemic, said professional service firm PwC in a new report.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Sharaf DG Energy completes key Drydocks Dubai retrofit project

Sharaf DG Energy, one of the leading solar energy solution providers in the UAE, said it has completed a lighting retrofit project at Drydocks World-Dubai, which will help the group achieve an annual energy saving of 1,215,708 kWh.

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Retail & Wholesale

DMCC launches special drive to woo global diamond companies

DMCC, one of the world’s most interconnected free zones and leading trade and enterprise hub for commodities, has launched a two-month discount campaign to encourage international diamond companies to set up operations in Dubai.

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Energy, Oil & Gas
Finance & Capital Market

NBB in tie-up to transform transaction banking

The National Bank of Bahrain (NBB) has partnered with Infosys Finacle to adopt the Finacle Cash Management Suite, which will allow the bank to digitally transform its transaction banking business.

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Analysis, Interviews, Opinions

How AI will complement jobs and help create a fairer economy

Whereas the Covid-19 pandemic has forced whole industries across the Middle East to transform their business models and digital capabilities by necessity, AI and robotics have emerged to complement and create jobs, cultivate a fairer economy, and benefit

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Industry, Logistics & Shipping

Siemens to provide compressors for Aramco gas project

Siemens Energy said it has been selected to provide 20 centrifugal compressor systems for Saudi Aramco’s Hawiyah Unayzah Gas Reservoir Storage (HUGRS) project located 260 kilometres east of Riyadh, Saudi Arabia.

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Travel, Tourism & Hospitality

Raffles Dubai ranked among top 10 hotels worldwide

Raffles Dubai has been awarded two exceptional global rankings at the “Best of the Best Hotels” coveted Travellers’ Choice Awards on TripAdvisor for 2020, including being part of the top 10 overall hotels in the world for the first time.

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IT & Telecommunications

Etisalat to pay out Q2 interim dividends from August 11

UAE's leading telecom services operator Etisalat has announced that the interim dividend for second quarter will be paid out starting from August 11 through the First Abu Dhabi Bank, as agreed with its exclusive agent Abu Dhabi Securities Exchange.

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Motoring

Panasonic Jaguar Racing set for Berlin showdown

Panasonic Jaguar Racing will head to Germany after 158 days to complete season six of Formula E in a unique lockdown showdown. Berlin’s Tempelhof circuit will witness six races in nine days with three different track layouts.

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Health & Environment

UAE logs 5m Covid-19 tests; recovery rate at 90%

The UAE has crossed the barrier of 5 million laboratory tests for Covid-19, and the survival rate for those infected with the disease has risen to 90 per cent, said the country’s Minister of Health and Prevention.

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Media & Promotion

11th MBR Creative Sports Award postponed by a year

The Awards Ceremony of the 11th MBR Creative Sports Awards has been postponed by a year, said Sheikh Ahmed Bin Mohammed Bin Rashid Al Maktoum, President of the UAE National Olympic Committee.

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Education, HR & Training

Creative Zone extends its networking portal to SME community

Dubai-based Creative Zone has opened up its networking portal ‘CZ Connect 2.0’ to the wider SME community, offering them a free marketplace to engage, exchange ideas, cross-sell products/services, network and set up business relationships.

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