Thursday 26 April 2018

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BIG INFRASTRUCTURE BOOST
Kuwait to spend $3.04bn on new residential projects

Kuwait government is set to spend heavily on the country's infrastructure including the development of new road projects and other key amenities besides launch of residential developments worth KD916.6 million ($3.04 billion), said a report.

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STRONG COMPETITOR
DXB retains 'region's best' title for 20 years

Dubai International Airport (DXB), dubbed as the world’s busiest airport for international passengers, has retained its title as “Middle East’s Leading Airport” at the World Travel Awards Middle East 2018 - for the 20th year running.

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2

ARAMCO-SABIC JV PLANT
KBR wins Feed contract for big Saudi COTC complex

KBR, a leading provider of project management, and engineering services, said it has been awarded a front-end engineering and design (Feed) contract by state oil giant Saudi Aramco for its crude oil-to-chemicals complex in the kingdom.

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3

ANALYSIS
UAE top wealth management location for HNWIs

The UAE’s tax efficient system and sustainable economic model make it the most attractive wealth management destination for High Net-Worth Individuals (HNWIs) in the GCC, said Emirates Investment Bank (EIBank) in a new report.

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4

ANALYSIS
GCC opening up to major solar energy projects: S&P

The GCC region is opening up to major solar projects, taking advantage of its sunny climate and large tracts of available land, said S&P Global Ratings, a leader in financial research and analysis.

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5

NEWS IN PICTURES
Be a star

Thirty children from Al Oula, a non-profit organisation which aims to lift youngsters out of poverty, met with WWE superstars Mark Henry and Mojo Rawley in Jeddah, Saudi Arabia, as part of WWE’s 'Be A Star' programme.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

KBR wins Feed contract for big Saudi COTC complex

KBR, a leading provider of project management, and engineering services, said it has been awarded a front-end engineering and design (Feed) contract by state oil giant Saudi Aramco for its crude oil-to-chemicals complex in the kingdom.

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Retail & Wholesale

Plethora launches sixth store in UAE

Plethora, a leading retailer and distributor of luxury goods, has launched its sixth store in the UAE, showcasing several global brands of fragrances from all over the world.

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Energy, Oil & Gas

UAE district cooling utility Tabreed Q1 profit up 3pc

UAE-based Tabreed, a leading district cooling utility firm, has registered a Dh78 million ($21 million) net profit for the first quarter of 2018, up three per cent over last year backed by strong performance at its core chilled water business.

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Finance & Capital Market

FSS launches instant payments system

India-based Financial Software and Systems (FSS), a payments and fintech leader, has launched its Instant Payments system, a central payment clearing and settlement infrastructure for instant domestic and international money transfers.

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Analysis, Interviews, Opinions

UAE top wealth management location for HNWIs

The UAE’s tax efficient system and sustainable economic model make it the most attractive wealth management destination for High Net-Worth Individuals (HNWIs) in the GCC, said Emirates Investment Bank (EIBank) in a new report.

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Travel, Tourism & Hospitality

Roda Hotels to open new Dubai property in May

Roda Hotels & Resorts, a Dubai-based hospitality management company, will be adding a new hotel to the UAE emirate's growing hospitality portfolio next month.

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IT & Telecommunications

Dubai AI tech firm Flytxt expands in Latin America

America Movil, a telecom major, has deployed Dubai-based Flytxt’s flagship artificial intelligence, analytics and marketing automation product NEON-dX in six markets across Central America to analyse customer data in real-time.

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Lifestyle

Saudi Arabia to lay foundation to new entertainment hub

Saudi government is set to develop a new entertainment, sports and cultural destination at Al Giddiya area, some 40 km west of the capital, Riyadh. The first phase of the 334-km project will be completed by 2022, said a report.

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Motoring

Toyota sells over 1.52m electrified vehicles in 2017

Toyota Motor Corporation recently announced that it reached a landmark milestone in annual sales of electrified powertrains in 2017, with over 1.52 million sold worldwide as of February 2, surpassing the prior record set in 2016 by 8 per cent.

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Health & Environment

Azizi appoints contractor for Dubai Healthcare City projects

Azizi Developments, one of the leading private developers in the UAE, has awarded two contracts worth Dh440 million ($120 million) for the development of two buildings within the Dubai Healthcare City.

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Media & Promotion

Cinemacity to open three 4DX locations in Saudi Arabia

Cinemacity, a leading cinema exhibitor in Saudi Arabia, has partnered with South Korea’s CJ 4DPLEX, the world's first 4D cinema company, to open three 4DX locations in Riyadh and other major Saudi cities by the end of this year.

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Education, HR & Training

Ajman University, NYU Abu Dhabi sign MoU for cooperation

Ajman University has signed a MoU with NYU Abu Dhabi to foster mutual cooperation in the area of education and research, as well as further strengthen the existing landscape for academic, scientific, artistic and athletic advancements.

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