Saturday 19 June 2021

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LANDMARK TRANSACTION
Aramco closes $12.4bn pipeline deal with consortium

Aramco and an international investor group, including EIG and Mubadala, have announced the successful closing of the share sale and purchase agreement, in which the consortium has acquired a 49% stake in Aramco Oil Pipelines Company for $12.4 billion.

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OVERWHELMING RESPONSE
Aramco raises $6bn in world’s largest dollar corporate sukuk

Saudi oil giant Aramco said it has successfully raised $6 billion through sale of US dollar-denominated shariah-compliant securities to top investors. The demand was 20 times the initial targeted issuance size, thus reflecting strong investor appetite.

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2

REVOLUTIONARY DRUG
Abu Dhabi global first to get new anti-Covid medication

Abu Dhabi has becomes the first city in the world to receive the newest anti-viral treatment for Covid-19, Sotrovimab, which is now available for early treatment of certain categories of Covid-19 patients in the UAE.

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3

ANALYSIS
Pandemic takes heavy toll on working women: Deloitte

Heightened workloads and household responsibilities during the Covid-19 pandemic are driving deep dissatisfaction among many women in the workforce, according to a new Deloitte Global report.

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Top Trade News

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Industry Sectors

Construction & Real Estate

Bahrain seeks consultancy bids for metro infrastructure work

Bids have been invited from consultancy firms for a study on the infrastructure lines overlapping with the 109-km Bahrain Metro network. The scope of work includes planning and designing diversions for ground services incompatible with the route.

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Retail & Wholesale

Al Madina Group opens two new retail outlets in Dubai

Al Madina Group, a leading retail chain in UAE, celebrated its 50th anniversary with the opening of two new outlets - Crown Mall and Mango Hypermarket - at Jebel Ali in Dubai. It also unveiled a new logo for the group’s upcoming online platform.

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Energy, Oil & Gas

Aramco raises $6bn in world’s largest dollar corporate sukuk

Saudi oil giant Aramco said it has successfully raised $6 billion through sale of US dollar-denominated shariah-compliant securities to top investors. The demand was 20 times the initial targeted issuance size, thus reflecting strong investor appetite.

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Finance & Capital Market

Nasdaq Dubai welcomes listing of $3bn Indonesian sukuks

Nasdaq Dubai has welcomed the listing of three sukuk tranches issued by the Indonesian government worth $3 billion. With these new listings, the total value of all sukuks listed by Indonesia on the Nasdaq Dubai has increased to $19.75 billion.

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Analysis, Interviews, Opinions

Pandemic takes heavy toll on working women: Deloitte

Heightened workloads and household responsibilities during the Covid-19 pandemic are driving deep dissatisfaction among many women in the workforce, according to a new Deloitte Global report.

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Industry, Logistics & Shipping

Naqel Express launches two logistics facilities in Jeddah

Naqel Express, the leading Saudi express logistics and supply chain company with the largest seamless network, has officially opened its gateway facilities at King Abdulaziz International Airport as well as new cold chain warehouse facilities in Jeddah.

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Travel, Tourism & Hospitality

Accor to open first Hyde Hotels property in Dubai

Hyde Hotels, Resorts & Residences, part of the Accor group, has announced the first Hyde hotel outside of the US, with a new property set to open in Dubai's Business Bay in Q4 2021.

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IT & Telecommunications

Microsoft names CEO Satya Nadella as chairman

Microsoft Corp has announced that the board’s independent directors unanimously elected Satya Nadella to the role of board chair, replacing John W Thompson who took over as chairman from co-founder Bill Gates in 2014.

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Motoring

GM to boost EV and AV investments to $35bn through 2025

General Motors said that it will increase its EV (electric vehicle) and AV (automated vehicle) investments from 2020 through 2025 to $35 billion, representing a 75 percent increase from its initial commitment announced prior to the pandemic.

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Health & Environment

Abu Dhabi global first to get new anti-Covid medication

Abu Dhabi has becomes the first city in the world to receive the newest anti-viral treatment for Covid-19, Sotrovimab, which is now available for early treatment of certain categories of Covid-19 patients in the UAE.

More…
Media & Promotion

Mena box office revenues to hit $1bn by 2024: PwC

Cinema box office revenues in the Mena region are expected to grow by 4 percent to $1 billion by 2024, compared to a 2.4 percent decline worldwide, according to PricewaterhouseCoopers (PwC), a global auditing consultancy.

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Education, HR & Training

New CSR scholarship opens to American firms in Mideast

The American University of Iraq in Sulaimani (AUIS) a not-for-profit university and operated for the public benefit, is aiming to improve the lives of students and their families through a new scholarship campaign called “We Share the Future.”

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Miscellaneous

Expo 2020 Dubai unveils the Women’s Pavilion

Expo 2020 Dubai has reaffirmed its commitment to gender equality and women’s empowerment, unveiling creative content and programming for the Women’s Pavilion in collaboration with Cartier that will celebrate women change-makers around the globe.

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