Monday 25 May 2020

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IMPACT OF COVID-19 LARGE
Saudi economy is solid, can deal with deficit: Al-Jadaan

Saudi Arabia’s finance minister Mohammed al Jadaan has said the kingdom’s economy is solid and has the ability to deal with the coronavirus crisis despite the need to cut spending.

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1

GRACEFUL EXIT FOR RABO FUND
Salic buys key stake in top Indian speciality food company

Saudi Agricultural & Livestock Investment Company (Salic) has acquired a 29.8 per cent stake in Daawat, a unit of top Indian speciality foods company LT Foods for $17.2 million. The deal was done through its subsidiary United Farmers Investment Company.

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2

SPECIAL EID BONANZA
Dubai allocates $1.52bn land plots, mortgages to citizens

Dubai has allocated 3,000 land plots and mortgages worth Dh5.6 billion ($1.52 billion) to the citizens as part of its Eid Al Fitr package. One set of plots is located at Nad Hessa area of Dubai, while the other is in Al Aweer, said a report.

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3

ANALYSIS
More HR chiefs prioritising staff experience after Covid

Sixty-four per cent of human resources leaders taking part in a survey are prioritizing employee experience more highly now than before the coronavirus outbreak, said a new report by Gartner, a top research and advisory company.

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4

INSIGHT
Sovereign wealth funds maintain exposure to risk assets

Sovereign wealth fund portfolios have proved more resilient to the market rout in March and April 2020 than widely supposed, says a new report .

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Top Trade News

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Industry Sectors

Construction & Real Estate

Union Coop's Al Barsha project 40pc complete

Union Coop, the largest consumer cooperative in the UAE, said steady progress is being made on its Al Barsha – 3 project in Dubai which is now 40 per cent complete. Work on the concrete structure of the building is expected to be completed this week.

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Retail & Wholesale

Samsung unveils new outdoor TV and soundbar

Samsung Electronics has announced the expansion of its award-winning lifestyle Home Entertainment portfolio with the addition of The Terrace, its first outdoor 4K QLED TV and accompanying soundbar.

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Energy, Oil & Gas

Green energy capacity to grow despite Covid-19: IEA

Overall global renewable power capacity is expected to grow by 6 per cent in 2020, surpassing the total power capacity of North America and Europe combined, despite the slowdown in new additions, said the International Energy Agency (IEA).

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Finance & Capital Market
Analysis, Interviews, Opinions

More HR chiefs prioritising staff experience after Covid

Sixty-four per cent of human resources leaders taking part in a survey are prioritizing employee experience more highly now than before the coronavirus outbreak, said a new report by Gartner, a top research and advisory company.

More…
Industry, Logistics & Shipping

Salic buys key stake in top Indian speciality food company

Saudi Agricultural & Livestock Investment Company (Salic) has acquired a 29.8 per cent stake in Daawat, a unit of top Indian speciality foods company LT Foods for $17.2 million. The deal was done through its subsidiary United Farmers Investment Company.

More…
Travel, Tourism & Hospitality

Emirates sets new safety standards as it resumes operations

Emirates has unveiled multi-faceted measures for employee and customer care at every step of the travel journey. The new measures took effect today, with the resumption of regularly scheduled passenger flights to nine destinations.

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IT & Telecommunications

Global ICT groups 'must join hands to achieve ADN goal'

Global industry giants in information and communications technology (ICT) sector must join hands to develop unified standards and hierarchical evaluation systems in bid to achieve the Autonomous Driving Network (ADN) goal, said a white paper by Huawei.

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Lifestyle

MG Motor announces its entry into Iraq

MG Motor is continuing its rapid expansion across the Middle East with the announcement that GB Auto has been appointed as the brand’s exclusive distributor in Iraq.

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Motoring

Rolls-Royce to cut 9,000 jobs over Covid crisis

British aerospace giant Rolls-Royce said that it would cut at least 9,000 jobs in response to the slump in air traffic during the coronavirus pandemic, reported Emirates news agency Wam, citing German press agency dpa.

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Health & Environment

Mubadala leverages assets to produce Covid protective gears

Mubadala Healthcare and Strata Manufacturing (Strata) are collaborating to manufacture essential medical supplies and support the fight against Covid-19, utilising additive manufacturing to produce intubation capsule, face shields and ear guards.

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Media & Promotion

Sharjah Media City launches new freelancer package

Sharjah Media City recently launched the freelancer package within the media industry across various fields including photography, design and filmmaking. It provides individuals with the opportunity to set up a corporate bank account and sponsor dependent

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Education, HR & Training

LinkedIn reveals top 5 most applied for jobs in the UAE during Covid-19

A greater need for agility and resilience in businesses during Covid-19 is reshaping the supply and demand in corporate hiring in the UAE and the region. To meet such needs, LinkedIn has identified the top five applied-for jobs in the UAE.

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Miscellaneous

Abu Dhabi announces major amendments in pensions law

Abu Dhabi has issued key amendments in pensions law including a hike in the maximum limit of pensionable salary in private sector from Dh60,000 to Dh200,000 ($16,332 to $54,442) as well as the minimum limit of pensionable salary from Dh3,000 to Dh6,000 ($

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