Wednesday 29 November 2023

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Improved climate funding could save $50 trillion: report

Achieving net-zero greenhouse gas emissions by 2050 will require an annual global investment in the energy sector of $5 trillion to $7 trillion and benefits of taking action will save the world $50 trillion through 2050, says a Deloitte report.

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HUGE BOOST TO ECONOMY
Expo 230 'will turbo charge Saudi tourism sector'

The Expo 2030, to be held in Riyadh, will turbo charge Saudi Arabia's tourism sector, giving the kingdom a platform to share its unique and diverse wonders with the world, according to Saudi Tourism Authority CEO.

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ULTRA-LUXURIOUS DSESTINATION
NEOM launches another tourism escape - Siranna

The Board of Directors of NEOM has unveiled Siranna, an exclusive tourism escape, and the latest destination to be announced by the sustainable regional development evolving in northwest Saudi Arabia.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Majid Al Futtaim launches new waterfront neighbourhood in Dubai

Majid Al Futtaim, a leading mall developer and leisure pioneer in the region, has announced the launch of Plagette 32, a waterfront neighbourhood featuring 28 townhome-style club villas and four water bungalows within Tilal Al Ghaf community in Dubai.

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Retail & Wholesale

Spinneys becomes first UAE retailer to transition to rPET

Spinneys, one of the UAE’s leading fresh food retailers, has announced a partnership with packaging manufacturer Al Bayader International, to introduce recycled plastic packaging (rPET) across its stores.

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Energy, Oil & Gas

Bapco Energies completes amend and extend of $2.2bn facility

Bapco Energies has announced the closing of its $2.2 billion dual-tranche sustainability-linked term facility. The transaction incorporates an additional $300 million green shoe option – bringing the total facility size to $2.5 billion, the company said.

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Finance & Capital Market

Islamic banking to hit $4trn boosted by fintechs

Islamic banking is undergoing a historic transformation propelled by groundbreaking fintech advancements and poised to leap to an astounding $4 trillion in assets by 2026, primarily driven by the GCC nations.

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Analysis, Interviews, Opinions

Hard work, privilege or luck: study reveals what matters to get ahead

A new study on various aspects of ‘inequality’ revealed most respondents called for more collective actions to address this phenomenon, and to ensure equal opportunity, while seeking active participation of the private sector.

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Industry, Logistics & Shipping
Travel, Tourism & Hospitality

Middle East meetings sector 'a force for good'

The Middle East region's meetings and events industry is a force for good and will continue to be a driver of the region’s progress, says the IBTM World Trends Report 2023. The sector is expected to grow to $76 billion by 2028.

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IT & Telecommunications

Saudi Arabia leads adoption of AI in financial services: Finastra

Despite economic constraints, financial institutions in Saudi Arabia and UAE are among the global leaders in investment in artificial intelligence (AI), Banking as a Service (BaaS) and embedded finance.

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Lifestyle

Omniyat starts work on Vela, Dorchester Collection, Dubai

Leading UAE developer Omniyat has broken ground on its premium project, Vela, Dorchester Collection, Dubai, featuring 38 waterfront residences. Conceptualised by Foster + Partners, Vela will rise to 150-m, with over 270,000 sq ft spread across 30 floors.

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Motoring

Lumi and MachinesTalk sign $7.5m technology deal

To revolutionise vehicle sharing and enable digital transformation, Lumi car rental company, has signed a five-year SR28 million ($7.5 million) agreement with MachinesTalk, a leading IoT solutions provider in Saudi Arabia.

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Media & Promotion

Abu Dhabi Festival 2024 unveils spectacular programmes

Abu Dhabi Music & Arts Foundation has unveiled the programme for the Abu Dhabi Festival 2024, which will be held under the theme: “The Will for Hope” in celebration of artistic excellence and diversity. It will feature classical ballet, jazz, opera etc.

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Education, HR & Training

Invest Qatar in tie-up to support talent development

The Investment Promotion Agency Qatar (Invest Qatar) has partnered with the Ministry of Labour to nurture talents and develop a high-skilled workforce through joint initiatives between the public and private sectors.

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Miscellaneous

Scotland targets UAE’s $637 m annual spend on seafood

Seafood Scotland, the national trade and marketing body for the Scottish Seafood industry, has hosted a business lunch at Jumeirah Al Qasr to showcase the expanse of the sector offering and the pivotal role Scotland plays within the seafood industry.

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