Tuesday 9 August 2022

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AGGRESSIVE INVESTMENT HELPS
IHC achieves new net profit record of $2.82bn for H1

International Holding Company (IHC), a diversified Abu Dhabi-based conglomerate, has posted new record profit in the first half of 2022, as the company continues its aggressive investment strategy.

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1

MIDDLE EAST'S BIGGEST
Roxy Cinemas to launch 423 sqm screen in Dubai Hills Mall

Dubai Holding Entertainment’s Roxy Cinemas at Dubai Hills Mall is bracing to unveil a giant 423 sq m screen that is twice the size of a tennis court for a jaw-dropping cinematic treat never seen before in the Middle East, Roxy Xtreme.

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2

HOTEL OCCUPANCY HITS 74%
Dubai draws over 7 million international visitors in H1

Dubai attracted 7.12 million international overnight visitors between January and June 2022, recording more than 183% growth in visitors compared to the 2.52 million tourists who visited Dubai during the same period in 2021.

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3

FOCUS
Getting business ready to tackle rampant Inflation

Inflation, which has increased significantly, increases the cost of doing business at a time that’s difficult for small and medium businesses (SMBs) to pass price increases on to their customers.

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4

SPOTLIGHT
Cash App fraud: 10 common scams to watch out for

It pays to be careful – here’s how you can stay safe from fake giveaways, money flipping scams and other cons that fraudsters use to trick payment app users out of their hard-earned cash, according to Phil Muncaster, guest writer at ESET.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Alstom to set up regional HQ for Saudi Arabia

Alstom Company, which specialises in sustainable and smart transportation sector, has signed a memorandum of understanding with Saudi Arabia's Ministry of Investment to establish its regional headquarters in the kingdom.

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Retail & Wholesale

Young consumers ‘most concerned by cost of living’

Young consumers across the world are most anxious about the rising costs of gas, fuel and rent that are having an impact on their lives, according to a study based on Twitter conversations.

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Energy, Oil & Gas

WGES calls on attendees to register on its website

The 8th World Green Economy Summit (WGES) has invited those interested in attending to register on the Summit website to enable their participation in the activities, seminars, panel discussions and youth circles held during the event.

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Finance & Capital Market

Saudi PIF sets up unit to invest in Egypt

Saudi Arabia's Public Investment Fund (PIF) has launched the Saudi Egyptian Investment Company (SEIC) to invest in promising sectors throughout Egypt, one of the world’s emerging markets.

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Analysis, Interviews, Opinions

Commodity malware outpaces ransomware in Q2: Cisco

Commodity malware outpaced ransomware during April, May and June 2022 for the first time in more than a year, comprising 20 percent of the threats observed, said Cisco Talos, a leading private threat intelligence team.

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Industry, Logistics & Shipping
Travel, Tourism & Hospitality

Strong recovery in global air passenger numbers

Air travel showed strong recovery during June 2022 with total traffic in the month (measured in revenue passenger kilometers or RPKs) increasing 76.2% compared to June 2021, primarily propelled by the growing international traffic, according to new data.

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IT & Telecommunications

Nokia selected by Orange Egypt to modernise network

Nokia has announced that Orange Egypt has opted to modernise its existing Nokia SDM (subscriber data management) solution to support the operator’s subscriber growth over the next five years.

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Lifestyle

Snap plans Mena expansion with new office in Qatar

Snap Inc., a leading camera company, has signed a memorandum of understanding (MoU) with Qatar’s Government Communications Office (GCO) to open a new office in Doha, expanding its footprint in the Mena region.

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Motoring

Dubai unveils digital initiative for drivers licensing

Dubai’s Roads and Transport Authority (RTA) has announced the launch of ‘Click and Drive’ initiative for reengineering customers' journeys to obtaining driver licenses and vehicle registration services, as well as a mobile eyesight testing service.

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Health & Environment
Media & Promotion

AlShehhi wins the World Media Award for content

The World Media Group has announced that Khaled AlShehhi, Executive Director of Marketing and Communication for the UAE Government Media Office, is the winner of the World Media Award (WMA) for Content Leadership and Innovation for 2022.

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Education, HR & Training

Pakistan School Bahrain students shine in national exams

Over 40 students from the Pakistan School Bahrain scored A+ and A grades at the annual national-level Secondary School Certificate (SSC) Part-II examinations for the academic year 2021-22.

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