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HUGE BOOST TO SAUDI TOURISM
Red Sea Global celebrates first flight to new airport
The first flight to the new Red Sea International Airport (RSI) in Saudi Arabia touched down on the runway on Thursday, marking a huge milestone for The Red Sea project.
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OFFER PRICE FIXED AT SAR13.5
Driller ADES IPO draws huge institutional demand
ADES Holding Company, a leading oil and gas drilling and production services provider, has set the final offer price for its IPO at SR13.5 ($3.6) per share, implying a market capitalisation of SR15.24 billion ($4.07 billion) at listing.
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142,000 UNITS UNDER CONSTRUCTION
60,000 homes likely to be delivered in Dubai this year
More than 142,600 residential units are under construction in Dubai and a total of 60,000 units are expected to be delivered in 2023, with about 20,000 of these already completed, according to a report.
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INSIGHT
Offshore wind industry needs ‘responsible development’
The offshore wind industry is poised for growth, but economic pressures and technological innovation need to be managed, says Allianz Commercial in its new report.
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INSIGHT
Sustainable tourism journey: Much more to be done
Bain & Company recently launched a report highlighting the increasing demand for sustainable tourism among leisure travellers across the globe. However, it says the travel and tourism sector must make more efforts to protect the environment.
Top Trade News
 | Industry Sectors |
Enowa pioneers helicopter-aided construction in NEOM
Enowa, NEOM’s energy and water company, has piloted helicopter-aided construction for the installation of high-voltage transmission line towers in the mountains of the futuristic city.
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EcoFlow products available in KSA through Amazon and Noon
EcoFlow has announced that its innovative range of products will be available in Saudi Arabia through Amazon and Noon stores starting from September 18, 2023.
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Adnoc Drilling adds four rigs in week’s time
Adnoc Drilling, a subsidiary of the Abu Dhabi National Oil Company (Adnoc), is significantly expanding operations and fleet with the addition of new rigs.
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Standard Chartered issues first green guarantee for CEEC-SEPEC
Standard Chartered has announced the issuance of its first-ever green guarantee for China Energy Engineering Shanxi Electric Power Engineering Company (CEEC-SEPEC) in Oman.
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The best Sharia-compliant investment products for UAE residents in 2023
The UAE is a growing market for Sharia-compliant investment products. Holding the 4th position in the Islamic Finance market, the UAE sees much projected growth. What are some of the best Sharia-compliant investment products for UAE residents in 2023?
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ABB, Porsche Consulting drive future of analyser manufacturing
ABB has partnered with Porsche Consulting, a leading management consultancy and a subsidiary of the sports car maker, to reshape analyser manufacturing, solidifying ABB’s position at the forefront of the analyser market.
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Mideast tourism arrivals 20% above pre-Covid figures
The Middle East reported the best results globally for tourism during January to July 2023, with arrivals 20% above pre-pandemic levels, says a UNWTO report. The region continues to be the only one to exceed 2019 levels so far.
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Batelco launches new portal for Enterprise sector
Batelco, part of the Beyon Group, has launched its new online portal, which serves as a digital one-stop-shop specifically designed for the Enterprise sector.
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Saudi Arabia’s first fashion week to showcase 30 brands
Thirty Saudi brands will rule the ramp at the inaugural “Riyadh Fashion Week” that will be held in the capital October 20-23. It will gather important members of the global fashion community to explore the kingdom's rapidly emerging fashion market.
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Jiad Modern Motors is MG Motor’s new distributor in KSA
MG Motor has appointed Jiad Modern Motors, a Mohamed Yousuf Naghi company, as the brand’s official distributor in Saudi Arabia. Effective immediately, the appointment is in line with the British-born brand’s regional retail network expansion strategy.
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Burjeel Holdings awards Oracle Health $34m EMR contract
Burjeel Holdings, a leading Healthcare Services Provider in the UAE, has awarded a AED125 million ($34 million) to Oracle Health to implement a state-of-the-art electronic medical record (EMR) ecosystem.
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ADC to acquire UAE's United Printing & Publishing
ADC Acquisition Corporation (ADC), the UAE’s first special purpose acquisition company (SPAC), has entered into an agreement with ADQ Developmental Holding to acquire Abu Dhabi-based United Printing & Publishing Sole Proprietorship (UPP).
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Bahrain Bourse kicks off Smart Investor Programme
Bahrain Bourse (BHB), an exchange licensed by the Central Bank of Bahrain, in partnership with Injaz Bahrain, has announced the launch of the 6th Edition of the Smart Investor Programme.
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UAE space sector spending increases
The total spending in the UAE's space sector witnessed a 6.61% increase in 2021 compared to the previous year and government spending accounted for 55.7% of it, said the UAE’s Space Economic Survey.
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