Sunday 21 January 2018

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DISTRIBUTION OPS CONTRACT
Kuwait logistics firm wins $690m US defence deal

Kuwait & Gulf Link Transport, an international logistics firm based in Kuwait, said it has been awarded a new contract by the US Defence department to lead logistics and distribution operations for US military personnel across the GCC.

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CRUCIAL MEETING IN OMAN
Opec may end cuts early as prices hit new high, say experts

As oil trades near a three-year high and crude stockpiles fall rapidly, analysts are questioning whether the Organization of Petroleum Exporting Countries (Opec)-led production cuts will last until the end of the year.

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2

PRODUCTION IN 2019
Al Babtain to set up wind power plant in KAEC

King Abdullah Economic City has signed a contract with the International Wind Power Company, a subsidiary of Al Babtain Power & Telecom, a leader in renewable energy and telecomm sectors to build Saudi Arabia’s first commercial wind farm.

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3

SPECIAL REPORT
One-third of vehicles will be electric by 2040: Masdar

While there are about three million electric passenger vehicles on the road today, by 2040, with performance improvements and competitive pricing, over one-third of vehicles will be electric, said a new report from Masdar.

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4

SPECIAL REPORT
World enters critical period of risks in 2018: WEF

Experts are preparing for another year of heightened risk, said a new report by the World Economic Forum (WEF), cautioning that people are struggling to keep up with the accelerating pace of change.

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NEWS IN PICTURES
Winter Wonderland

Shop Bahrain, the largest event in Bahrain, has launched ‘VIVA Winter Wonderland’, an outdoor ice skating rink located behind Al A’ali Shopping Complex in Seef District. The fun-filled event will run until February 17.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

MAG to deliver $218m Dubai project ahead of schedule

UAE-based MAG Lifestyle Development is set to deliver its ‘MAG 5 Boulevard,’ a Dh800 million ($218 million) gated residential community project months earlier than expected as construction works continue to progress ahead of schedule.

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Retail & Wholesale

UAE online shopping purchases subject to VAT

The UAE government has declared that all purchases made through online shopping portals are subject to the same 5 per cent Value Added Tax (VAT) as any other sales done through malls if the items bought online are received within the emirates.

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Energy, Oil & Gas

Opec may end cuts early as prices hit new high, say experts

As oil trades near a three-year high and crude stockpiles fall rapidly, analysts are questioning whether the Organization of Petroleum Exporting Countries (Opec)-led production cuts will last until the end of the year.

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Finance & Capital Market

$560m investment made in 260 Mena start-ups in 2017

Last year saw $560 million investment made in 260 start-ups across the Mena region, said a report from MAGNiTT, a major start-up website for entrepreneurs, investors, corporates and founders in the Middle East.

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Analysis, Interviews, Opinions

Saudi 2018 budget backing non-oil sector: NBK

Saudi Arabia’s SR978 billion ($260 billion) budget for 2018 is sends a strong signal that the government is serious about supporting the economy, especially the non-oil sector, and pursuing its Vision 2030 objectives, said an NBK report.

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Industry, Logistics & Shipping

Dubai Maritime City wins key ISO certification

Dubai Maritime City Authority (DMCA) said it has received the International Organization for Standardization (ISO) 31000:2009 for implementing its risk management framework that meets the highest international standards.

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Travel, Tourism & Hospitality

Jazeera launches flights to Kochi, Ahmedabad

Kuwait’s top low-cost airline Jazeera Airways has launched its inaugural flights to the Gulf state Indian cities of Ahmedabad and Kochi as part of its regional expansion strategy. Last year it began flights to the southern city of Hyderabad.

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Lifestyle

Seabourn celebrates 30th anniversary with 'Ovation'

Seabourn, an ultra-luxury cruise line, will celebrate its 30th anniversary throughout the year with unique events and amenities created just for the occasion for guests, Seabourn team members and travel professional partners to enjoy.

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Motoring

Masdar inks coop deal with Abu Dhabi transport

UAE-based Masdar said it has signed an agreement with the Department of Transport – Abu Dhabi (DoT) to boost co-operation in the study, testing and evaluation of sustainable, electrical and autonomous transport technologies.

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Health & Environment

Emirates Hospital pumps $2.72m into hitech facilities

Emirates Hospital, a unit of Emirates Healthcare, has announced that it had recently invested Dh10 million ($2.72 million) in advanced technology for the Neonatal Intensive Care Unit (NICU) at its facility in Jumeirah, Dubai.

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Media & Promotion

UAE to open 'Founder’s Memorial' next week

The UAE government will next week inaugurate 'The Founder’s Memorial' which has been set up in the memory of the founding father, Sheikh Zayed bin Sultan Al Nahyan at Abu Dhabi as the country marks 'Year of Zayed' this year.

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Education, HR & Training

Bloomberg, MiSK begin course for Saudi youth

MiSK Foundation, a leading talent developer in Saudi Arabia and Bloomberg, a global business and financial information and news leader have begun an intensive week-long financial journalism training programme in Dubai for Saudi students.

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Miscellaneous

World Government Summit to focus on future

The sixth edition of the World Government Summit (WGS 2018) in Dubai will explore vital future topics including artificial intelligence, space, youth and happiness, climate change and the Global Policy Platform.

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