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NEW INVESTMENT PLATFORM
DFM launches Arena for private offerings
Dubai Financial Market (DFM), the region’s leading financial market, has unveiled its flagship initiative – Arena by DFM - an innovative platform for initial private offerings.
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MIDEAST AIRLINES SEE 10.8% RISE
Global air passenger demand grows 13.8% in March
Total air passenger demand globally, measured in revenue passenger kilometers (RPKs), was up 13.8% in March compared to the same month in 2023, the International Air Transport Association (IATA) data has showed.
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CARBON NEUTRALITY BOOST
Petchem major Sabic shows resilience; swings to Q1 profit
Saudi petrochemical major Sabic has registered a net profit of SAR246 million ($66 million) for Q1 when compared to a SAR1.73 billion ($461 million) loss in Q4 2023, thus reflecting its high resilience in adapting to market conditions and global economy.
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INSIGHT
80% next-gen Philanthropists prefer to give 'on a personal level'
About 80% of next-generation philanthropists are moving away from their family foundations and businesses with over 45% employing non-traditional giving methods such as impact investing, microlending, and donor-advised funds, says a study.
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INSIGHT
Family businesses ‘prioritise expansion, technology’
Expanding into new sectors and markets ranked first on the list of priorities for Dubai’s next generation of family business members, with business development second and the adoption of new technologies following in third place.
Top Trade News
 | Industry Sectors |
Amali launches 24-villa luxury property in Dubai
UAE-based Amali Properties has unveiled its first master-planned community, Amali Island, a collection of exclusive villas spanning a 1.2 million sq ft area on The World Islands in Dubai, and featuring 24 ultra-luxurious beachfront villas.
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Spinneys $375m IPO increases shares in retail tranche
Spinneys 1961 Holding, an operator of premium grocery retail supermarkets, has announced that following high levels of demand it will increase the number of shares allocated to the UAE Retail Offering of its $375 million IPO.
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Fertiglobe upbeat on 2023 results; approves $200m cash dividends
Abu Dhabi-based Fertiglobe, the largest nitrogen fertilizer producer in Mena region, has approved a cash dividend of $200 million (equivalent to 9 fils/share) for H2 2023 to its shareholders. This brings the total dividends for FY 2023 to $475 million.
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NEOM secures $2.67bn new revolving credit facility
NEOM, a new urban area being built by Saudi Arabia, announced on Sunday that it has secured a new revolving credit facility (RCF) worth SAR10 billion ($2.67 billion).
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80% next-gen Philanthropists prefer to give 'on a personal level'
About 80% of next-generation philanthropists are moving away from their family foundations and businesses with over 45% employing non-traditional giving methods such as impact investing, microlending, and donor-advised funds, says a study.
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QatarEnergy enters $6bn deal for 18 largest LNG vessels
QatarEnergy has signed an agreement with China State Shipbuilding Corporation (CSSC) for the construction of 18 ultra-modern QC-Max size LNG vessels, marking a significant addition to its historic LNG fleet expansion programme.
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Munich Tourism to showcase diversity at ATM
Munich Tourism, which is a long-term participant at the Arabian Travel Market (May 6-9) will present the great diversity of Munich in the GCC region to travel partners and agents from Gulf countries, and is looking forward to finding new partners.
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AUS, Nokia team up to advance engineering education
American University of Sharjah (AUS) has announced that Nokia has joined the College of Engineering (CEN) Al Nukhba programme following the recent signing of a Memorandum of Agreement.
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One Za’abeel launches dual licensed office space at Dubai tower
One Za’abeel, a kety mixed-use project developed by ICD (Investment Corporation of Dubai), has announced the launch of The Offices, its ultra-luxurious dual licensed corporate office spaces within its skyscraper One Za’abeel Tower.
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Nissan launches new 2024 X-Trail N-Trek in the Middle East
Nissan has announced the expansion of its X-Trail range in the Middle East with the introduction of the adventure-ready 2024 X-Trail N-Trek.
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Cleveland Clinic uses ultrasound technology to treat liver tumor
Global health system Cleveland Clinic has started using a recently FDA-approved ultrasound device to treat liver tumors, the hospital has said.
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Aramco becomes FIFA's Major Worldwide Partner
Aramco, one of the world’s leading integrated energy and chemicals companies, has signed a four-year global partnership with FIFA (Federation Internationale de Football Association), the international governing body of football.
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AI is revolutionising global education: WEF report
A new World Economic Forum report explores how artificial intelligence could revolutionise education systems and improve the experiences of educators and students alike.
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Gates Foundation to set up regional HQ in Misk City, Riyadh
The Bill & Melinda Gates Foundation, a private non-profit foundation launched by Bill Gates and Melinda French Gates, will establish its first regional headquarters within Mohammed Bin Salman Nonprofit City (Misk City) in Riyadh.
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