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GLOBAL DEFENCE POWERHOUSE
EDGE, Indra set up Abu Dhabi JV to manufacture hitech radars
EDGE, an advanced UAE defence group, has joined hands with Indra Sistemas, a leading IT and defence systems company with footprint in over 140 countries, to set up a new venture, PULSE, in Abu Dhabi, for the design, manufacture of hitech radar systems.
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CASH FLOWS ROBUST
Strong credit metrics support oil, gas despite emerging risks: Fitch
The ongoing investments in renewable energy and decarbonization efforts will progress gradually, without causing immediate disruptions to oil and gas sector fundamentals, said Fitch Ratings, adding that the upstream production is set for solid growth.
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DIGITAL TRANSFORMATION BOOST
Bahrain payments industry sees strong growth; to hit $1.37bn
Bahrain’s payments industry is projected to experience strong growth, with total revenues anticipated to reach $1.37 billion by 2028, thus securing its position within the GCC’s competitive landscape, according to Boston Consulting Group (BCG).
Top Trade News
 | Industry Sectors |
Diriyah awards $202m excavation contract for mega Saudi project
Saudi developer Diriyah has awarded a SAR758 million ($202 million) excavation works deal for Phase Two of its mega project thus marking a key milestone in the development of City of Earth. Over 600 heavy machines will be deployed on-site for the work.
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Dolce&Gabbana launches luxury boutique, café in Diriyah
Italian luxury fashion brand Dolce&Gabbana has opened a new luxury centre at Bujairi Terrace in Diriyah, featuring a boutique and café. Drawing inspiration from Italy’s rich culinary tradition, DG Caffè features a curated menu tailored to Saudi tastes.
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TotalEnergies JV wins Oman renewable energy projects contract
TotalEnergies, a global integrated energy company, has announced that its joint venture with Oman's OQ Alternative Energy has secured a major contract from Petroleum Development Oman (PDO) to develop three renewable energy projects in the sultanate.
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Saudi GDP to grow by 3.7pc in 2025 outpacing global: report
Saudi Arabia’s GDP in 2025 is projected to grow by 3.7% year over year, continuing to outperform global GDP growth, which is forecast at 3.2.% – a modest increase on 3.1% in 2024, says the Mastercard Economics Institute.
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2025 technology predictions from Veeam Software
Year 2025 will see Ransomware-as-a-Distraction, The Rise of the Cloud Data Lakehouse as Resilience Drills take off as sovereign clouds and data portability come into existence.
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Arcapita to build mixed-use logistics complex in Riyadh
Bahrain-based Arcapita Capital Company has reached an agreement with Flow Progressive Logistics, an end-to-end Saudi supply chain management company, to develop a modern class mixed-use storage complex over a 80,000 sq m area in Riyadh.
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Waldorf Astoria set for Bahrain debut with 120-key property
Global hospitality group Hilton has sealed a partnership deal with Al Sorouh Hospitality Development for the launch of its debut Waldorf Astoria property in Bahrain. Located in the heart of Manama, the Waldorf Astoria Bahrain Bay will boast 120 rooms.
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BNET, Zain Bahrain complete fiber backhaul asset transfer deal
Bahrain Network (BNET), the national company responsible for providing fiber-based broadband networks in Bahrain, has announced the strategic and successful transfer of Zain Bahrain’s fixed-fiber backhaul network assets.
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Arada acquires three leading UAE gym brands
Sharjah developer Arada is set to cement its leadership in the local fitness sector with the acquisition of UAE gym brands - ladies-only superclub FitnGlam, boutique exercise hub Platform Studios and the newly launched Fitcode, said a top official.
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Nissan announces senior management appointments
Nissan Motor Co has announced the appointment of a new leadership team, effective January 1.
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SAB, Goumbook launch 2nd edition of RAVP
Saudi Awwal Bank (SAB) and Goumbook have announced the launch of the second edition of the Menat Regenerative Agriculture Venture Programme (RAVP) for the 2024/2025 cohort.
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Bahrain celebrates National Day with great pride, gaiety
In a spectacular display of national pride and joy, Bahrain celebrated its National Day along with the 25th anniversary of His Majesty King Hamad’s reign with great pomp and gaiety, thus marking a significant moment in the kingdom’s history.
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Emirates NBD, ADIB close prime London student housing deal
Emirates NBD, one of UAE’s leading financial institutions, has led the successful closure of a senior financing transaction for a prime purpose-built student accommodation asset in central London, in collaboration with Abu Dhabi Islamic Bank (ADIB).
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Mall of Muscat to host Oman's first Russian circus
Oman is preparing to host its first ever Russian circus show at the iconic Mall of Muscat.
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