Thursday 20 June 2019


Aviation sector input to UAE GDP to hit $88bn by 2030

The national aviation sector's contribution to UAE's gross domestic product (GDP) is projected to surge to Dh323.6 billion ($88 billion) by 2030, according to the Airport Council International (ACI) World, a media report said.



Over 40 global firms vie for giant Jubail utility project

Over 40 top utility developers including Acwa Power, GE, Engie, Veolia, Cobra and Mitsubishi besides Kuwait-based GIC and 10 major Saudi companies have submitted bids for the development of an IWPP in the Jubail area of the kingdom.



Facebook to launch digital wallet, currency

Facebook has announced a new digital currency called "Libra." The social media giant is partnering with 27 other businesses and organizations to start the crypto as an open-source currency.



Corporate finance leaders optimistic on Mideast growth

Corporate finance leaders across the Middle East region remain optimistic for future growth despite economic uncertainty, according to a leading survey.



Oil and gas industry gearing up for robotics adoption

The oil and gas industry is gearing up to deploy robotics across a wide range of applications in the upstream, midstream and downstream segments, primarily to drive productivity and efficiency, said GlobalData, a top analytics company.



Summer surprise

Dubai Summer Surprises (DSS) returns this year for its 22nd edition, making Dubai the ultimate destination to be in this summer. The annual festival will run from June 21 to August 3 and will offer exciting events, sales, hotel and spa deals, and more.


Top Trade News


Industry Sectors

Construction & Real Estate

Damac launches affordable luxury homes in Business Bay

Leading UAE developer Damac Properties has announced the launch of Zada, a fully-integrated development featuring luxurious one-bedroom modern apartments, in Dubai’s Business Bay area with prices starting at Dh699,999 ($190,539).

Retail & Wholesale

Golden Scent launches new AR feature for beauty lovers

Golden Scent, the leading Saudi Arabian e-commerce beauty platform, is the first in the Middle East to launch a one of a kind “Augmented Reality” (AR) feature on its Android and iPhone app.

Energy, Oil & Gas

Saudi Aramco, Air Products open first hydrogen fuelling station

State oil giant Saudi Aramco said it has joined hands with Air Products, a world-leading industrial gases company in operation for over 75 years, to open the first hydrogen fuelling station at Dhahran in Saudi Arabia.

Finance & Capital Market

Saudi banking sector net profit up 11.3pc in 2018

Saudi Arabia's banking sector saw positive results in 2018, with an average 11.3 percent growth in net profit, and 2.1 percent growth in total assets, according to a new report released by professional services firm KPMG.

Analysis, Interviews, Opinions

Oil and gas industry gearing up for robotics adoption

The oil and gas industry is gearing up to deploy robotics across a wide range of applications in the upstream, midstream and downstream segments, primarily to drive productivity and efficiency, said GlobalData, a top analytics company.

Industry, Logistics & Shipping

Chinese chemical JV launches first polymer plant in Oman

Chinese company ZL EOR Chemicals said its joint venture with Petroleum Development Oman has built a polymer manufacturing plant in the Salalah region of the sultanate. The new facility has a production capacity of 15,000 tonnes per annum.

Travel, Tourism & Hospitality

IAG to buy 200 Boeing 737 MAX airplanes

International Airlines Group (IAG) said at the Paris Air Show that it plans to build its future fleet with the Boeing 737 MAX with an intention to purchase 200 MAX jets valued at more than $24 billion as per list prices.

IT & Telecommunications

Ericsson launches 5G New Radio software

Ericsson, a global communications service provider, has now introduced standalone 5G New Radio (NR) software, making for new network architecture, delivering key benefits such as ultra-low latency and even better coverage.


Gringos Malta reveals summer lineup

Gringos, a weekly summer Sunday club night in Malta dedicated to underground, electronic and dance music, has announced the 2019 line-up for this year’s residency at Uno, Malta’s biggest open-air club.


Uber unveils nextgen Volvo self-driving car

Uber Advanced Technologies Group (UberATG) has unveiled its latest Volvo self-driving SUV -- the first production car capable of fully driving itself -- at this year’s Uber Elevate Summit in Washington, USA.

Health & Environment

Bahrain to build new sports medicine hospital

Bahrain has announced plans to build a new sports medicine hospital as part of its efforts to provide treatment and sports rehabilitation services to the kingdom's athletes. The work on the hi-tech facility will begin soon, said a report.

Media & Promotion

Platini taken into custody over Qatar World Cup probe

Former UEFA president and a former France soccer great Michel Platini has been arrested in relation to the awarding of the 2022 World Cup to Qatar, said media reports citing a judicial official.

Education, HR & Training

Saudi Arabia emerges biggest K12 market in GCC

Saudi Arabia has emerged as the largest single K12 education market in the GCC worth $37 billion. It accounts for 85 per cent of the total 39,600 schools in the region, said real estate group Colliers which released its white paper on the sector.


Four teams enter first electric aircraft race

The field for the world’s first ever electric aircraft air race is already halfway there with four teams having entered the inaugural Air Race E event to be held next year, said Airbus, the official founding partner of the series.

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