Thursday 19 April 2018

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COMMERCIAL OPERATIONS BY 2020
Acwa consortium wins Salalah IWP desal plant deal

A consortium led by Saudi-based Acwa Power has been awarded the contract to develop the first independent water desalination plant in Oman's Dhofar Governorate.

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FIRST SECTION TO RUN IN 2020
Aldar to build world’s first commercial Hyperloop system

Hyperloop Transportation Technologies has signed an historic agreement with UAE-based Aldar Properties to launch the world’s first commercial hyperloop system, running 10-km long in a critical development area on the Abu Dhabi-Dubai border.

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HOUSING, RETAIL UNITS TOP LIST
Abu Dhabi's active building projects' value hits $62.8bn

The total value of the over 1,200 active residential and commercial building projects across Abu Dhabi has surged to more than $62 billion, according to a new report.

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3

ANALYSIS
Half of UAE residents less sure about financial health

Almost half of UAE residents are less confident about their financial health than they were 12 months ago, but remain more confident about their prospects in the UAE than anywhere else, said a new report

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4

ANALYSIS
GCC Islamic banks to maintain improved asset quality

The credit fundamentals of Islamic banks operating in the GCC have converged with those of their conventional peers and they should maintain their improved asset quality and profitability in the coming year, Moody's said in a new report.

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5

NEWS IN PICTURES
A night to remember

Multi-million selling, International recording artist Craig David regaled and wowed Marriott International’s loyalty program members, partners and invitees from the media with an unforgettable performance on April 18.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Sharjah projects set for Bahrain expo debut

Arada, one of the UAE’s newest property developers, will be showcasing some of Sharjah's premium real estate projects - both freehold and long-term leasehold developments - at the upcoming Gulf Property Show 2018 in Manama.

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Retail & Wholesale

Blue Star picks Sands as new Saudi distributor

Blue Star International, a subsidiary of air-conditioning and commercial refrigeration major Blue Star in Dubai, has partnered with Sands International as the official distributor in Saudi Arabia for its Unitary Products range.

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Energy, Oil & Gas
Finance & Capital Market

UAE’s e-Dirham generates $1bn govt revenue in Q1

The federal government revenue collected through e-Dirham in the UAE reached more than Dh4 billion ($1.08 billion) in the first quarter (Q1) of 2018, representing an increase by 82 per cent compared to the same period last year.

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Analysis, Interviews, Opinions

Half of UAE residents less sure about financial health

Almost half of UAE residents are less confident about their financial health than they were 12 months ago, but remain more confident about their prospects in the UAE than anywhere else, said a new report

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Industry, Logistics & Shipping

Thyssenkrupp sets up 'world’s biggest virtual warehouse'

Leading German multinational conglomerate Thyssenkrupp said its materials services unit has digitised the company's entire range to set up the world’s biggest virtual warehouse offering more than 150,000 of its products and services.

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IT & Telecommunications

Du announces new budget smartphone offer

Dubai-based telecom provider recently announced its new Budget Smartphone Offer, which will allow companies to buy affordable devices for their employees through easy interest-free instalment plans of 12 or 24 months.

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Lifestyle

Hollywood star headlines Nissan Formula E launch tour event

Nissan completed its Formula E launch tour in Los Angeles with an event led by Margot Robbie, the firm's electric vehicle and sustainability ambassador, heralding an exciting era for Nissan as it enters the ABB FIA Formula E Championship.

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Motoring

Saudi group inks partnership deal with China's Higher Bus

Saudi-based Abdul Latif Jameel Machinery has inked a strategic partnership deal with top Chinese bus and coach manufacturer Higher Bus for supply of its hybrid and clean energy buses besides coaches, city and school buses in the kingdom.

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Health & Environment

Saudi German Hospital to build 100-bed facility in RAK

Saudi German Hospital, a leading healthcare group in the region, has announced plans to build a 100-bed specialty hospital at Al Marjan Island, a luxury resort destination in the northern emirate of Ras Al Khaimah.

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Media & Promotion

Viva Bahrain, Samsung partner for entertainment service

Viva Bahrain, a leading telecom operator has partnered with Samsung Electronics Mena introducing Samsung CUE, a digital entertainment service featuring latest music and music services.

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Education, HR & Training

KPMG to create over 700 jobs in Saudi Arabia in 5 years

KPMG, a leading provider of audit, tax and advisory services, has announced plans to create more than 700 jobs over the next five years in Saudi Arabia mainly for its nationals in order to cater to its overall business growth in the country.

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Miscellaneous

Investcorp sells Dutch division of SPGPrints

Bahrain-based Investcorp, a leading global provider and manager of alternative investments, has sold Veco Precision, a Dutch-based division of SGPrints to Gilde Buy Out Partners and Management.

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