Wednesday 19 January 2022

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POSCO, SAMSUNG SIGN AGREEMENT
PIF ties up with Korean groups to build green hydrogen plant

Saudi Arabia's sovereign wealth fund PIF has announced that it has joined hands with South Korean industrial majors - Posco and Samsung C&T - to develop a green hydrogen production facility in the kingdom mainly for export purposes.

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1

MAJOR DISRUPTION FEARED
US airlines warn of 'chaos' over 5G launch

Major US airlines have warned of an impending "catastrophic" aviation crisis when AT&T and Verizon deploy new 5G service on Wednesday. They said the switch-on of 5G mobile phone services will cause "major disruption" to flights.

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2

DEAD INCLUDE TWO INDIANS
Three killed in Abu Dhabi tanker blast; drone attack suspected

Three people, including two Indian nationals, were killed and six wounded as a suspected drone attack blew up petrol tanks near a major oil storage facility in ICAD 3 at Mussafah in Abu Dhabi, state media said on Monday citing Abu Dhabi Police.

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3

INTERVIEW
Estidamah in drive to boost Saudi agriculture, food security

National Research and Development Center for Sustainable Agriculture (Estidamah) has launched a digital transformation drive to boost farmers' output and support Saudi Arabia's agriculture, food security and sustainability goals, said its top official.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Aldar in deal to build $489m sustainable city in Abu Dhabi

Aldar Properties has reached an agreement with Diamond Developers to build The Sustainable City on Abu Dhabi’s Yas Island at an investment of AED1.8 billion ($489 million). Once completed, it will boast 864 residential units and 3,000 sqm retail space.

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Retail & Wholesale

Nestlé appoints Malak as Chairman & CEO Mena

Nestlé has appointed Yasser Abdul Malak as Chairman and Chief Executive Officer for the Middle East and North Africa (Mena) region, effective January 1, 2022.

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Energy, Oil & Gas

PIF ties up with Korean groups to build green hydrogen plant

Saudi Arabia's sovereign wealth fund PIF has announced that it has joined hands with South Korean industrial majors - Posco and Samsung C&T - to develop a green hydrogen production facility in the kingdom mainly for export purposes.

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Finance & Capital Market
Analysis, Interviews, Opinions

Estidamah in drive to boost Saudi agriculture, food security

National Research and Development Center for Sustainable Agriculture (Estidamah) has launched a digital transformation drive to boost farmers' output and support Saudi Arabia's agriculture, food security and sustainability goals, said its top official.

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Industry, Logistics & Shipping

AFC raises $400m in loan for critical infrastructure in Africa

Africa Finance Corporation, the continent's leading infrastructure solutions provider, has raised $400 million in a new syndicated loan to support the post-pandemic recovery through critical development of infrastructure.

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Travel, Tourism & Hospitality

Damac expands Paramount Hotel chain with new UAE property

Dubai luxury project developer Damac has announced the expansion of its hotel chain with the launch of Paramount Hotel Midtown. The property, featuring 281 rooms and suites, offers timeless Hollywood elegance and a cinematic experience for its guests.

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IT & Telecommunications

Estidamah signs up Hilal, SAP for digital infrastructure services

Saudi-based Estidamah has signed up top IT services, consulting and business solutions organisation Hilal Computers for its next-generation digital infrastructure and cyber security services and global software major SAP for providing the ERP solutions.

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Lifestyle

AutoFlight starts in Europe; targets certification by 2025

AutoFlight, the Chinese eVTOL pioneer, continues its global expansion and sets up its first location in Europe, with a team led by former Airbus manager Mark R Henning is now ramping up at Augsburg Airport in Germany.

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Motoring

Oman’s GAC offers Mitsubishi SUV at all-time low price

General Automotive Company (GAC), the official distributor of Mitsubishi vehicles in Oman, has launched a promotion on the 7-seat Mitsubishi Xpander High-Line, offering the vehicle at an all-time low price of RO6,995 ($18,110).

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Education, HR & Training

Salary, workplace among top job attributes in UAE

The three top drivers of employee attraction in the UAE are salary and compensation (64%), workplace environment (61%) and long-term job security (50%), said respondents to a new survey by job site Bayt.com and data analytics firm YouGov.

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