Wednesday 29 March 2023

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GREATER PRIVATE CONTRIBUTION
Bahrain's real GDP grows 4.9% in 2022; hits 10-year high

Bahrain's real gross domestic product (GDP) grew 4.9% in 2022, hitting a 10-year high, driven by non-oil GDP growth and greater private sector contribution towards economic activities. It had witnessed a 6.2% non-oil GDP growth, said a senior minister.

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1

CITY TO HOUSE 400,000 RESIDENTS
Egis lands PMC contract for mega Kuwait mixed-use project

Egis Group has won the project management consultancy (PMC) contract for Al Mutlaa City, a mixed-use project in Kuwait spanning 104 sq km and featuring commercial, light industrial and residential areas that will be home to nearly 400,000 residents.

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2

GRID EXPANSION, EFFICIENCY VITAL
$35 trillion needed by 2030 for successful energy transition

A successful energy transition demands bold and transformative measures and for this, investments worth $35 trillion will be needed on a global scale by 2030, prioritising efficiency, electrification, grid expansion and flexibility, said an expert.

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3

INSIGHT
Investors eye ‘retiring 3 years earlier’ than non-investors

People who invest their wealth expect, on average, to retire 3 years earlier than non-investors, a survey by global market research firm YouGov commissioned by private market exchange ADDX has found.

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4

FOCUS
Why now is the right time to start preparing for Corporate Tax in UAE – DgTx

The Corporate Tax regime in the UAE will begin from June 1, 2023; however, as per leading UAE digital taxation company DgTx, businesses must start prepping for the Corporate Tax now.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Egis lands PMC contract for mega Kuwait mixed-use project

Egis Group has won the project management consultancy (PMC) contract for Al Mutlaa City, a mixed-use project in Kuwait spanning 104 sq km and featuring commercial, light industrial and residential areas that will be home to nearly 400,000 residents.

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Retail & Wholesale
Energy, Oil & Gas

$35 trillion needed by 2030 for successful energy transition

A successful energy transition demands bold and transformative measures and for this, investments worth $35 trillion will be needed on a global scale by 2030, prioritising efficiency, electrification, grid expansion and flexibility, said an expert.

More…
Finance & Capital Market

Bahrain's real GDP grows 4.9% in 2022; hits 10-year high

Bahrain's real gross domestic product (GDP) grew 4.9% in 2022, hitting a 10-year high, driven by non-oil GDP growth and greater private sector contribution towards economic activities. It had witnessed a 6.2% non-oil GDP growth, said a senior minister.

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Analysis, Interviews, Opinions

How Gen Z and Gen Alpha will shape business T&E process

Gen Z will be the largest workforce demographic by 2030, with Gen Alpha beginning their career journeys, said SAP Concur in a new report aiming to help travel managers level-set travel & expense (T&E) operations going forward.

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Industry, Logistics & Shipping

AD Ports Group revenue soars 41% to $1.5bn in 2022

AD Ports Group, the exclusive developer and regulator of ports in Abu Dhabi, reported strong operational and record financial performance in 2022, with revenue growth of 41% year-on-year to AED5.5 billion ($1.5 billion).

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IT & Telecommunications

Saudi Arabia leads Mena region in fintech growth

The Saudi fintech market is witnessing unprecedented growth and in recent years has begun to rival neighbouring economies such as Egypt and the UAE in startup investments, according to a report by the US-Saudi Business Council.

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Lifestyle

Jacob & Co unveils $20m timepiece

It is museum worthy; it's a work of art that took more than three years in the making. At $20 million a piece, Billionaire Timeless Treasure from Jacob & Co is one of the most expensive watches ever crafted.

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Motoring

KFH-Bahrain offers over $23,000 in cash prizes this Ramadan

Kuwait Finance House – Bahrain, a leading Islamic bank in the kingdom, has officially launched the ‘Apply-and-Win’ promotion offering its auto-finance clients an opportunity to win cash prizes worth more than BD9,000 ($23,724) during Ramadan.

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Health & Environment

Enoc Group breaks ground on new Dubai screening centre

Enoc Group, a leading integrated global energy player, has broken ground on its occupational screening centre located in Jebel Ali, Dubai. Set to open in H1 2024, the new centre will offer comprehensive health and support services for Enoc group.

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Media & Promotion

Snap launches ARES to bring power of its AR to businesses

Snap has unveiled AR Enterprise Services (ARES), a new enterprise solution to enable businesses to integrate Snap's Augmented Reality (AR) into their owned and operated channels with ease and at scale.

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Education, HR & Training

Schneider Electric seeks disruptive ideas for greener cities

Schneider Electric, a leader in the digital transformation of energy management and automation, has launched NextGen Go Green, a global student competition seeking disruptive ideas to make cities more sustainable and community-oriented.

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Miscellaneous

SIIG agrees to invest $70m in Unibio

The Saudi Industrial Investment Group (SIIG), a privately owned petrochemical firm, has signed an agreement to invest approximately $70 million in Unibio International, the leading sustainable protein company.

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