Monday 19 April 2021

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SAUDI ARABIA TOP IMPORTER
Bahrain’s national-origin exports up 18% to $1.8bn in Q1

The value of Bahrain’s exports of national origin increased by 18% to BD684 million ($1.8 billion) during the first quarter (Q1) 2021, compared to BD580 million for Q1 of the previous year, marking a 17.9% increase, a report said.

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KEY GAS TURBINES DEPLOYED
GE launches operations at new 500MW power plant in Iraq

GE Gas Power has announced the opening of the Samawa Power Plant in the Iraqi governorate of Al Muthanna. For the first phase of the project, it had deployed four 9E gas turbines, thus helping the facility to generate 500 MW in simple cycle operations.

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FOCUS ON WEALTH CENTRES
Citi to close retail banking in Bahrain, India, China

Citigroup has said it will close retail banking operations in 13 countries across Asia and parts of Europe, including Bahrain, to focus more on wealth management outside the US.

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Top Trade News

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Industry Sectors

Construction & Real Estate

L&T unit wins contract for two 132/11kV substations in Dubai

India's top engineering and construction firm Larsen & Toubro (L&T) said one of its key subsidiaries, Power Transmission and Distribution, has secured orders to design and construct two 132/11kV substations in Dubai, UAE.

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Retail & Wholesale

Redtag partners with Samsung for Ramadan raffle

Redtag, the region’s favourite homegrown value fashion and homeware brand, has partnered with Samsung to launch a special Ramadan bonanza raffle, to wow and delight its customers over the festive month.

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Energy, Oil & Gas

Petchem projects to drive Saudi oil, gas sector by 2025

Petrochemical projects are likely to drive upcoming projects across the oil and gas value chain in Saudi Arabia, accounting for 61 per cent of the total projects expected to start operations over the next five years, said a report.

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Finance & Capital Market

GSB launches new wealth management service

GSB Capital, a provider of wealth management and financial guardianship solutions, has launched a new wealth management offering in Dubai as part of its plans to deliver tailored solutions for private and corporate clients.

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Analysis, Interviews, Opinions

Vaccination drive to spur faster growth in GCC

While the IMF has predicted GDP growth in Mena to pick up to 4% this year, the growth is not expected to be even across the region and GCC could see an accelerated growth due to its strong vaccination programmes, says an industry expert.

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Industry, Logistics & Shipping
Travel, Tourism & Hospitality
IT & Telecommunications

Cisco Secure unveils passwordless future

Cisco Secure, the leader in enterprise security, today unveiled the future of simple and effective security with infrastructure agnostic, passwordless authentication by Duo Security.

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Lifestyle

Hyundai Motor’s Staria MPV debuts

Hyundai Motor Company has officially launched its new Staria multi-purpose vehicle (MPV) lineup via a digital world premiere, establishing a model for its future Purpose Built Vehicles (PBVs).

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Motoring

Dubai RTA, Cruise sign pact to operate self-driving taxis

Dubai’s Roads and Transport Authority (RTA) and Cruise, a leading US-based autonomous vehicle company, have signed an agreement as part of which Cruise will operate self-driving taxis and ride-hailing services in the emirate.

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Health & Environment

Chapman Taylor wins Qatar hospital design contract

Chapman Taylor, a global architect and masterplanner, said it has been signed up by UCC Holding to develop the design for the façade of a new hospital in Qatar. A 250-bed facility, View Hospital, will come up on a 95,000-sq-m area in Al Qutaifiya.

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Media & Promotion

Dubai company plans collection of Strongman NFTs

Dubai-based, global sport event company, CoreSports has announced that it will be diversifying to be the first-ever company to create non-fungible tokens (NFTs) for the Strongman sport, under its World’s Ultimate Strongman brand.

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Education, HR & Training

Pearson Middle East expands portfolio

Pearson Middle East, the world’s leading learning company has introduced a series of three new courses to address the demand for skilled professionals in the UAE.

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Miscellaneous

MBRSC teams up with Japan’s ispace on Emirates Lunar Mission

The Mohammed Bin Rashid Space Centre (MBRSC) has signed a contract with Japan’s ispace, under which the latter will provide payload delivery services for the ambitious Emirates Lunar Mission.

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