Sunday 21 April 2019

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DEAL INKED WITH TOP BANKS
Italy's Prysmian Group closes $1.12bn refinancing deal

Prysmian Group, a world leader in the energy and telecom cable systems industry, said it has refinanced its €1-billion ($1.12 billion) long-term revolving credit facility with a pool of leading Italian and international banks.

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BIG OVERSEAS ACQUISITION
Saudi Maaden set to acquire 85pc stake in African group

Saudi Arabia’s largest mining company Ma’aden will make its first international acquisition move with the purchase of an African Fertilizer distribution company, Meridian Group. The all-cash deal is likely to be completed by September this year.

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2

'MAJOR INVESTMENT CITY'
Over 1,000 millionaires moved to Dubai in 2018

Dubai attracted more than 1,000 millionaires from outside the country in 2018, surpassing major cities like Los Angeles, Melbourne, Miami, New York, San Francisco and Sydney, according to the ‘Global Wealth Migration Report’ for 2019.

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3

ANALYSIS
GCC to see marginal economic growth in 2019: ICAEW

The GCC economy will be weighed down by renewed Opec-plus oil production cuts and lower oil prices, and is expected to post a marginal improvement of 2.3 per cent economic growth in 2019, said ICAEW’s latest Economic Insight report.

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4

ANALYSIS
Device shipments seen flat at 2.2bn units in 2019: Gartner

Worldwide shipments of devices — PCs, tablets and mobile phones — are on pace to reach 2.21 billion units in 2019, exhibiting flat growth year over year, said leading global research and advisory company Gartner.

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NEWS IN PICTURES
The Phantom of the Opera unmasked

Award-winning performer Jonathan Roxmouth will play the lead role of ‘The Phantom’ in the Middle East debut of the world’s most popular musical, The Phantom of the Opera, taking place in Dubai this October.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Nshama to hand over 5,000 new Dubai residences this year

Nshama, a leading UAE-based developer of stylish master-planned communities, said its prime development Town Square Dubai will deliver 5,000 additional residences this year taking the total number of homes handed over to more than 6,600.

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Retail & Wholesale

PAN Emirates opens new store in The Mall at WTCAD

PAN Emirates Home Furnishings, a leading home-grown indoor, patio and outdoor furniture brand in the region, has launched a new store at The Mall at World Trade Center Abu Dhabi (The Mall at WTCAD).

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Energy, Oil & Gas

Top Masdar executive named Tabreed CEO

UAE-based district cooling company Tabreed has appointed Bader Saeed Al Lamki as its new chief executive effective April 21. An industry veteran, Al Lamki comes from Masdar, where he was the executive director of the Clean Energy Directorate.

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Finance & Capital Market

Al Salam Bank, AFS launch first digital payroll solution

Al Salam Bank-Bahrain, a key Islamic bank in the region, has joined hands with Arab Financial Services (AFS), a leading FinTech enabler and payment services provider, for the official launch of the first digital payroll solution in the kingdom.

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Industry, Logistics & Shipping

Fluor JV completes fabrication for CNOOC gas field

Fluor Corporation, a global diversified company, said that its joint venture COOEC-Fluor Heavy Industries fabrication yard has completed the central and wellhead platforms for CNOOC’s Dongfang 13-2 Gas Fields Development Project.

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Travel, Tourism & Hospitality

Emirates to deploy A380 on Riyadh route

Emirates will be providing more options and choice for its customers in Riyadh with the introduction of the first scheduled Airbus A380 service to the capital city, starting next week.

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Lifestyle

Maison Privee unveils new luxury hospitality concept

Maison Privee, the Dubai-based leading luxury vacation rentals provider has teamed up with specialist luxury lifestyle company, MyConcierge to offer guests a chance to experience what life is like for the city’s elite.

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Motoring
Health & Environment

GCC health services to grow at 12pc in 2019: study

GCC countries will represent 13 per cent of global revenues for healthcare products in 2019, with services growing at 12 per cent, said growth partnership company Frost & Sullivan in a new report.

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Education, HR & Training

GMU opens admission for healthcare management courses

The College of Healthcare Management and Economics launched by Gulf Medical University (GMU), Ajman, has started admitting students into its Bachelor and Executive Master programs.

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Miscellaneous

Over 1,000 millionaires moved to Dubai in 2018

Dubai attracted more than 1,000 millionaires from outside the country in 2018, surpassing major cities like Los Angeles, Melbourne, Miami, New York, San Francisco and Sydney, according to the ‘Global Wealth Migration Report’ for 2019.

More…
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