Monday 6 April 2020

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AL HILAL, UNB INTEGRATION
ADCB completes 3-way merger, sets up giant banking group

Abu Dhabi Commercial Bank Group has achieved full integration of Union National Bank (UNB) and Al Hilal Bank significantly ahead of schedule, completing a complex three-way merger process that has created a unified, powerful and resilient banking group.

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1

235,000 RT CAPACITY
Tabreed buys 80pc stake in Emaar cooling unit for $675m

UAE-based National Central Cooling Company (Tabreed) said it has reached an agreement with leading developer Emaar Properties to acquire a 80 per cent stake in its Downtown Dubai district cooling business for Dh2.48 billion ($675 million).

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2

HIGH-VOLTAGE NETWORK
Dewa commissions 8 new substations worth $231m

Dubai Electricity and Water Authority (Dewa) is continuing with its development projects, having commissioned eight new 132/11 kilovolt (kV) substations with a total cost of Dh850 million ($231 million) since the start of the year.

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3

ANALYSIS
Lack of clarity on Covid-19 force majeure provisions: experts

There is a lack of clarity when considering the Force Majeure provisions for businesses in the region as a result of the Covid-19 pandemic, a panel of experts has said.

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4

ANALYSIS
Is ICT tech keeping its promise as pandemic hits the world?

As the world faces the unprecedented Covid-19 crisis, information and communication technologies (ICT) is playing a critical role in bringing people together while social distancing is being practiced across the world, highlights an industry expert.

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5

NEWS IN PICS
Virtual Aurora

With the world on lockdown due to COVID-19 – one tourism company has gone above and beyond to give people around the world the chance to experience Lapland in all its majesty – without having to leave the confines of their homes.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Oman allows firms to hire expats in construction sector

Oman, in a major move, has regulated the recruitment of expatriate workers for the construction sector and brick factories allowing some companies to hire them only after they meet a set of criteria outlined for the sector, said a report.

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Retail & Wholesale

Saudi Arabia turns to e-commerce during Covid-19 outbreak

Restrictions on movement and trade as a result of the Covid-19 pandemic have led to a significant shift in consumer behavior in Saudi Arabia, with locals increasingly turning to digital channels, said a report.

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Energy, Oil & Gas

UAE backs Saudi call for meeting of Opec+, others

The UAE has supported Saudi Arabia's proposal to call for an emergency meeting of the Opec+ and a group of other countries to ensure the balance and stability of the global oil market.

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Finance & Capital Market

UAE moving ahead with all planned national projects

The UAE is forging ahead with the implementation of all planned national projects and value-added initiatives, said His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai.

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Analysis, Interviews, Opinions
Industry, Logistics & Shipping
Travel, Tourism & Hospitality
IT & Telecommunications
Motoring

Dubai RTA makes bus rides free, offers taxi discounts

Dubai’s Roads and Transport Authority (RTA) said its public bus services will be free of charge for individuals permitted to leave their homes during the extended two-week sterilisation period.

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Health & Environment

70 UAE plants to support medical sector

Seventy national plants in the UAE will supply the medical sector with all necessary equipment, medicine, solutions and medical gases, such as oxygen, said Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry.

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Media & Promotion

Etisalcom, Atyaf to launch premium entertainment package

Bahrain-based telecommunications company Etisalcom said it has reached an agreement with Atyaf, the licensed partner for leading pay TV service providers and vendors, to launch its premium services in the kingdom.

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Miscellaneous

UAE waives fines on expired residency visas

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has announced the UAE Cabinet decision to cancel fines for residence visa holders until the end of the year.

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