Monday 15 October 2018

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STRATEGIC INVESTMENT
Waha buys minority stake in Petronash in $88m deal

Waha Capital, a leading investment company based in Abu Dhabi, UAE, has acquired a significant minority stake worth $88 million in Dubai-based Petronash Holdings, a global oilfield services and manufacturing company.

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1

'ATTEMPTS WON'T SUCCEED'
Saudi Arabia rejects threats; warns retaliation

Saudi Arabia said today that it totally rejects any threats and attempts to undermine it, whether by threatening to impose economic sanctions, using political pressure, or repeating false accusations.

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OVER 25,000 SALES TRANSACTIONS
Dubai records $44bn real estate deals in nine months

Dubai’s real estate market recorded 39,802 transactions worth Dh162 billion ($44 billion) from the start of the year till the end of September reflecting growth driven by optimism among investors and developers, a media report said.

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3

ANALYSIS
Bioenergy to lead renewables growth to 2023: IEA

Modern bioenergy will have the biggest growth in renewable resources between 2018 and 2023, building a robust renewable portfolio and ensuring a sustainable energy system, said the International Energy Agency.

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4

ANALYSIS
Declining costs, tech ‘driving green energy demand’

Price and performance parity, grid integration, and technology are allowing solar and wind power to compete with conventional sources on price, while matching their performance, said professional services firm Deloitte in a new report.

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5

NEWS IN PICTURES
New form of aerial mobility

Singapore-based HES Energy Systems has unveiled plans for the world’s first regional hydrogen-electric passenger aircraft, designed to fly passengers for 500 km to 5,000 km. The first flying prototype is expected to be tested before 2025.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Kooheji JV to develop Bahrain's 'tallest' residential towers

Bahrain’s Kooheji Golden Gate has joined hands with India-based real estate companies Ajmera Realty and Mayfair Housing to build the kingdom's tallest residential towers featuring a total of 746 apartments overlooking views of Bahrain Bay.

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Retail & Wholesale

Visa to unveil new platform, Fintech startups at Gitex

Visa, a global leader in digital payments, will showcase its new platform and fintech partners from its regional programme and also participants of DIFC’s Fintech Hive accelerator scheme at the upcoming Gitex expo in Dubai.

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Energy, Oil & Gas

Orpic Logistics eyes strategic fuel reserve

Orpic Logistics Company, the fuel logistics arm of Oman Oil Refineries and Petroleum Industries Company (Orpic), is considering to establish strategic fuel reserves for the country, said a report.

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Finance & Capital Market

Dubai set to host third Fintech Summit

Financial technology (fintech) heavyweights will return to Dubai on October 30 on board the Queen Elizabeth 2 at Port Rashid for the third annual Fintech Summit, organised by leading regional deal facilitation company Naseba.

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Analysis, Interviews, Opinions

Back to basics: VAT Accounting 101

As part of the UAE Vision 2021, the introduction of taxation has brought diversity to the country’s economic revenue streams, and also encouraged greater transparency for businesses, says an industry expert.

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Industry, Logistics & Shipping

Dubai DED issues 1,509 licences in September

The Department of Economic Development (DED) in Dubai has issued a total of 1,509 new licences in September, thus registering a 23.6 per cent increase over 1,221 licences in August.

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Travel, Tourism & Hospitality

MGallery unveils new hotel in Dubai

MGallery by Sofitel, AccorHotels' collection of unique boutique hotels, welcomes its second property in Dubai with the rebranding of the Meliá Hotel in Bur Dubai’s Port Rashid area to The Canvas Hotel, MGallery.

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IT & Telecommunications

Mideast firms ‘lead EMEA in digital transformation’

Middle Eastern businesses are rapidly investing in cloud and mobile solutions at a rate far surpassing other EMEA markets, said Canon Middle East in a new report released at the ongoing Gitex Technology Week in Dubai, UAE.

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Lifestyle

JCDecaux in deal to transform Abu Dhabi urban landscape

Abu Dhabi's Department of Urban Planning and Municipalities has signed a strategic deal with JCDecaux, one of the world's largest outdoor advertising corporations, to enhance the urban landscape in the UAE capital through innovative technology.

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Motoring

Careem partners with FinTech Bay in Bahrain

Careem, a leading ride-hailing app in the region has signed an agreement with Bahrain FinTech Bay, a major financial technology hub in the Middle East and Africa.

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Media & Promotion

Saudi designers partner with top EU councils

Leading designers from Saudi Arabia recently partnered with the British Council, Embassy of France, and Embassy of Hungary, to create a one-of-a-kind programme, Saudi Design Week, aimed at elevating design conversations to the next level.

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Education, HR & Training

GEMS school opens cricket academy in Dubai

Dubai-based GEMS Heritage Indian School, in partnership with ESM (East Sports Management), has opened GEMS Heritage Cricket Academy, a world-class facility with state-of-the-art technology, an enhanced curriculum and ICC-qualified coaches.

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Miscellaneous

Sabic unveils agri-nutrient solutions at Riyadh show

Sabic showcased its wide range of innovative, environment friendly agri-nutrient solutions targeted to specific needs of each crop and help improve yields at 37th International Trade Exhibition for Agriculture and Agro-Industry in Riyadh.

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