Sunday 25 October 2020

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GCC agri-nutrients feed 5pc of world population

The GCC agri-nutrients industry supports the food supply of 5 per cent of the world’s population, or 350 million people across the globe, according to a new report published by the Gulf Petrochemicals and Chemicals Association (GPCA).

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1

BPGIC III OPS SET FOR 2022
Brooge starts preconstruction work on big Fujairah oil terminal

Brooge Energy, a midstream oil storage and service provider, said the pre-construction work has begun on the third phase of its oil storage terminals and refinery project, strategically located outside the Strait of Hormuz near Port of Fujairah, UAE.

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2

$236m COMPENSATION
Dana Gas to sell onshore Egyptian assets to IPR

Dana Gas has entered into a binding agreement with IPR Wastani Petroleum, a member of the IPR Energy Group for the sale of its onshore Egyptian producing oil and gas assets for a consideration of up to $236 million including contingent payments.

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3

ANALYSIS
5G and edge: unlocking new possibilities

With 5G we'll see an entirely new range of applications enabled by low latency of 5G and the proliferation of edge computing – transforming the art of the possible, said professional services firm Accenture in a new report.

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4

ANALYSIS
Future of work in UAE & impact on IT investments

While there is increased confidence in remote working, 82% of business decision-makers polled in the Middle East expect to be back in the office within 12-18 months, said an industry expert at Xerox in the company’s Future of Work survey..

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Top Trade News

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Industry Sectors

Construction & Real Estate

Alstom, Hyundai land big Baghdad metro project

A consortium led by Alstom, a global leader in rail transport and sustainable mobility, and Hyundai Engineering & Construction have signed a memorandum of intent with Iraq's government for the implementation of the Baghdad Elevated Train (BET) project.

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Retail & Wholesale

Al Taher, Al-Futtaim to introduce Ikea at Oman mall

Al Taher Group, a diversified business group in Oman, has signed a strategic agreement with the UAE based conglomerate Al-Futtaim Group to introduce globally renowned furniture brand Ikea, at Oman Avenues Mall, in Muscat.

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Energy, Oil & Gas

Med-Red, Israel’s EAPC sign tie-up for oil transport

Med-Red Land Bridge (MRLB), a UAE-Israel joint venture, has signed a partnership with Israeli state-owned EAPC to create a land bridge for transferring of oil and oil products from the UAE and other Eastern markets to the Western markets.

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Finance & Capital Market
Analysis, Interviews, Opinions

AI can save GCC govts $7bn a year: report

The efficiencies generated by artificial intelligence (AI) technology can support Middle Eastern government budgets by up to $7 billion annually, said Oliver Wyman, a global leader in management consulting, in a new report.

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Industry, Logistics & Shipping

UAE outlines key challenges facing mining sector

Leading players in the energy and industrial sector joined senior government officials and investors at a key event, Mining Show Virtual, which put the spotlight on the daunting challenges facing the sector and also discussed the future roadmap.

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Travel, Tourism & Hospitality

IATA further cuts 2020 traffic forecast for Mideast

Full-year 2020 passenger numbers in the Middle East (to/from/within) are forecast to reach only 30% of 2019 levels, down significantly from the 45% that was projected in July, the International Air Transport Association (IATA) said.

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IT & Telecommunications

Etisalat Q3 net profit up 6% to $653m

Etisalat Group, the leading telecom service provider in the UAE, today reported a 6% increase in consolidated net profit for the third quarter (Q3) 2020 to AED2.4 billion ($653 million), resulting in a net profit margin of 18%.

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Lifestyle

Infiniti launches QX80 luxury SUV in Middle East

The 2021 Infiniti QX80 full-size luxury SUV has launched in the Middle East, featuring added equipment, innovative new technologies and stylish features befitting its luxury status, in addition to a new ‘Black Edition’ grade.

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Motoring

Al-Futtaim Toyota records strong Q3 results

Al-Futtaim Toyota continued gaining market share in Q3 ending September 2020 with 36% compared to 32.0% the year before, thanks to a sturdy line-up of dependable segment leaders.

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Health & Environment

Expo 2020 joins Mastercard in planting 100 million trees

Mastercard has announced that Expo 2020 Dubai has joined as a strategic partner the Priceless Planet Coalition, which unites the efforts of consumers, financial institutions, merchants and cities to fight climate change.

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Media & Promotion

Lockheed Martin interns showcase new AI solution

Top-performing Emirati interns at Lockheed Martin, the US-based global technology leader, recently showcased their work on advanced technology projects to senior UAE defence industry officials.

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Education, HR & Training

New autonomous underwater robot does successful run

A state-of-the-art underwater survey robot being developed by a collaboration of companies from across the UK is on schedule for completion next spring after a successful first demonstration.

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Miscellaneous

Baker McKenzie-SparkBeyond AI tie-up to reimagine legal industry

Leading global law firm Baker McKenzie and cutting-edge problem-solving platform SparkBeyond have announced a market-first collaboration to apply SparkBeyond's technology to disrupt the legal industry and reimagine what legal services might look like for

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