Thursday 23 September 2021

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2040 URBAN MASTERPLAN
Dubai allocates $17bn for new Emirati housing programme

Dubai government has allocated AED65 billion ($17 billion) in funding for an Emirati housing programme coming up in the emirate. The budget will be spent over the next two decades on providing the highest standards of urban infrastructure and facilities.

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GOALS HIGHLIGHTED AT AHIC
Perfect time to invest in Saudi tourism, says minister

The mammoth potential for hospitality investment in Saudi Arabia (KSA) was highlighted today at the AHIC Conference in Dubai by a top Saudi tourism official who said it is the perfect time to invest in the Kingdom's tourism sector.

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2

MENA REGION TARGETED
Technip Energies, NPCC plan JV for energy transition

Technip Energies and National Petroleum Construction Company (NPCC), a subsidiary of National Marine Dredging company, have signed a Memorandum of Understanding (MoU) to advance energy transition in the UAE and other countries in Mena.

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3

Innovation in MedTech driving cost-effective care

Medical devices are allowing new methods of treatment to be implemented into healthcare systems around the world. MedTech is uniquely placed to bring about positive change across global healthcare systems, says an expert.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Saipem mulls new Saudi Aramco JV for EPC activities

Saipem, a leading engineering and construction company, said it is studying the possibility of setting up a new entity in Saudi Arabia with state oil giant Aramco that will execute major engineering and construction activities in the industrial sector.

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Retail & Wholesale

Kane & Ashley launches retail platform

Renowned luxury holding company Kane & Ashley has announced the launch of ‘Le Éleur’, its exclusive online retail portal for discerning individuals who enjoy seeking out the finer things in life.

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Energy, Oil & Gas

Gas crunch could drive oil to hit $85 this winter: MUFG

The knock-on effects of the global gas crunch may lead to an even tighter physical oil market, and a transitory price spike above $85 per barrel (/b) in the fourth quarter (Q4) of 2021 cannot be ruled out, a report said.

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Finance & Capital Market

Cryptocurrency market cap up 86% this year; hits $1.4trn

The UAE is poised to be a global hub for cryptocurrency as market capitalisation hit $1.4 trillion, up 86% year to date, said experts ahead of the AIM Summit running from October 11– 12 in Dubai, UAE.

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Analysis, Interviews, Opinions

Gas crunch could drive oil to hit $85 this winter: MUFG

The knock-on effects of the global gas crunch may lead to an even tighter physical oil market, and a transitory price spike above $85 per barrel (/b) in the fourth quarter (Q4) of 2021 cannot be ruled out, a report said.

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Industry, Logistics & Shipping

Maersk signs deal for warehousing facility in Jafza

Maersk Kanoo UAE, an integrator of container logistics, has signed an agreement with DP World’s leading trade and logistics hub, Jebel Ali Free Zone (Jafza) to set up its first warehousing and distribution (W&D) facility in the UAE.

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Travel, Tourism & Hospitality

Perfect time to invest in Saudi tourism, says minister

The mammoth potential for hospitality investment in Saudi Arabia (KSA) was highlighted today at the AHIC Conference in Dubai by a top Saudi tourism official who said it is the perfect time to invest in the Kingdom's tourism sector.

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IT & Telecommunications

Data-as-a-service model picking up pace in UAE, Saudi

Fifty-four percent of businesses in the UAE and Saudi Arabia are looking to move to a data-as-a-service model and 55 percent are planning to look deeper into the performance stack to rearchitect how they process and use data, a report said.

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Lifestyle
Motoring

Cars24 raises $340m in funding; doubles valuation

Cars24, one of the leading e-commerce platforms for pre-owned vehicles, has announced the closing of AED1.2 billion ($326 million) round in Series F equity funding, nearly doubling its valuation to AED6.75 billion.

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Health & Environment

Urgent call for commitment to climate action in tourism

In preparation for COP26, two information sessions were held on the Glasgow Declaration on Climate Action in Tourism. Developed by a collaborative group, it is an urgent call for all stakeholders to commit to a decade of climate action in tourism.

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Media & Promotion

Havelock One Interiors wins Saudi cineplex fit-out contracts

Havelock One Interiors, a leading turnkey fit-out contractor in the Middle East, has secured contracts from Lebanese cinema chain Empire Cinemas for work on the interiors of three multiplexes in Saudi Arabia in the cities of Riyadh, Madinah and Al Ahsa.

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