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AMAALA UTILITY INFRASTRUCTURE
EDF-Masdar consortium seals $1.5bn Red Sea Global deal
Red Sea Global (RSG) has closed a $1.5 billion deal with a consortium led by French utility major EDF and Masdar, along with Korea East-West Power and Suez for development of multi-utility infrastructure within its Amaala wellness destination.
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200,000 JOBS, 100 DESTINATIONS
Riyadh Air orders 60 GenNext A321s in multibillion-dollar deal
Riyadh Air, the new premium international airline, has ordered 60 next generation A321 planes from Airbus in a multibillion-dollar deal that backs the Saudi carrier's long-term goal of creating 200,000 jobs as well as network of 100 destinations by 2030.
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$71bn ECONOMY BOOST IN 8 YEARS
PIF, Google Cloud to set up global AI hub in Saudi Arabia
Saudi wealth fund PIF has sealed a strategic deal with Google Cloud for the establishment of a global artificial intelligence (AI) hub near Dammam. This AI facility is likely to contribute a cumulative $71 billion to the kingdom's GDP over eight years.
Top Trade News
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RAK Properties launches final phase of Quattro Del Mar
RAK Properties, Ras Al Khaimah’s leading publicly listed property developer, has announced the release of the final phase of Quattro Del Mar, its iconic waterfront development in Mina Al Arab.
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AI-driven insights boost shopper understanding from 10pc to 45pc
RetailGPT, the Generative AI platform bridging digital and physical retail, is setting a new industry benchmark in understanding consumer behaviour.
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Acwa Power expands Africa renewable footprint with $7bn investments
Acwa Power, a global leader in energy transition and a pioneer in green hydrogen, has announced that its Redstone Concentrating Solar Power (CSP) plant in South Africa has reached 50 MW and is set to achieve its full 100 MW capacity in the coming days.
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Global economic growth stagnates at 2.7%, says UNCTAD
UN Trade and Development (UNCTAD) projected global economic growth to stagnate at 2.7% in 2024 and 2025, marking a sustained drop from the 3% annual average seen from 2011-2019 and well below the 4.4% average in the years before 2008 financial crisis.
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Finding smart ways to fill skills and drive growth
Bridging the expertise gap requires more than just accessing external knowledge – it is a holistic approach that recognises the value of talent within a culture of shared growth.
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Bahri posts solid growth in first 9 months; net profit up 40pc
Top Saudi shipping group Bahri has delivered solid results for the nine-month period with its net profit surging 40% to hit SAR1.7 billion ($462 million), propelled by higher shipping rates, growth in shipped volumes as well as improved profit margins.
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Abu Dhabi passenger traffic soars to 21.7m in nine months
Abu Dhabi Airports has recorded exceptional year-to-date passenger traffic growth, welcoming 21.7 million passengers across its airports as of September 30. This represents a remarkable 31.2% increase compared to the 16.5 million passengers last year.
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e& UAE and Microsoft unveil AI-powered solutions for SMBs
e& UAE and Microsoft have announced a major milestone in their partnership, unveiling innovative AI-powered solutions designed to help Small and Medium Businesses (SMBs) thrive in the digital age.
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Beautyworld Middle East to showcase ‘clean’ and ‘conscious’ brands
The 28th edition of Beautyworld Middle East 2024, one of the region’s largest international trade shows for beauty and wellness, will present brands that are changing the way the sector looks at sustainability, when it gets underway in Dubai from October
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Mumtalakat, CYVN in deal to explore McLaren partnership
Mumtalakat, the sovereign wealth fund of the Kingdom of Bahrain, said it has entered into a non-binding agreement with Abu Dhabi-based CYVN Holdings to explore a potential partnership to accelerate the next chapter of auto giant McLaren’s growth.
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PureHealth 9M net rises 13pc to $380m, revenues surge 56pc
PureHealth Holding, the largest healthcare group in the Middle East, has posted a nine-month (9M) net profit increase of 13% to AED1.4 billion ($380 million) on a revenue surge of 56% to AED19 billion.
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Bahraini jeweller Amal wins top accolades at Milan Jewellery Week
Bahraini jewellery designer Amal Sanad won the Best Creativity Award at Milan Jewellery Week in recognition of her ability to seamlessly blend originality and historical influences with modern creativity. She is the first Bahraini to win this accolade.
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Abu Dhabi career expo to offer 900 jobs, 100 for People of Determination
The Ministry of Industry and Advanced Technology (MoIAT) has launched the third edition of the Industrialists Career Exhibition, which will take place at the Abu Dhabi Energy Centre from October 28 to 30. It promises to offer more than 900 new jobs.
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DFF kicks off ‘FEEL’ with 42 visionary leaders from 15 countries
Dubai Future Academy, an initiative of Dubai Future Foundation (DFF), kickstarted the "FEEL: A Disruptive Futures Programme" a transformative initiative welcoming the participation of 42 visionary leaders from 15 countries.
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