Sunday 25 February 2018

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ATKINS BUYOUT BOOSTS GROWTH
SNC-Lavalin's 2017 net income surges 50pc to $382m

SNC-Lavalin, a leading engineering and construction group, has posted a net income of $382 million, attributable to shareholders for 2017, up 50 per cent over the previous year, thanks to divestment of certain non-core and low growth businesses.

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1

LISTING ABOVE BERLIN, SHANGHAI
Dubai innovation rank rises to 14th in global index

Dubai has once again improved its innovation performance climbing one spot to rank 14th among 30 global cities on the 3rd Dubai Innovation Index, outperforming major business destinations such as Berlin, Madrid, Shanghai and Sao Paulo.

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2

INTERIOR DESIGN CONSULTANT
MAG awards big contracts for $1.2bn Dubai project

UAE-based developer MAG Group has signed up Opal as the interior design consultant for its Dh4.7-billion ($1.27 billion) MAG Eye project coming up in Meydan, Dubai. VX Studio has been appointed peer review consultant.

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3

ANALYSIS
How safe are you around your smart TV?

Now, you probably enjoy watching your smart TV, but chances are that you don’t want it to watch you, too, but ‘watch its watchers’ is precisely what these TVs can do, says an industry expert.

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4

ANALYSIS
Cryptocurrencies: Bubble or no bubble

Cryptocurrencies are most like a speculative instrument, versus an asset class or a currency, said S&P Global Ratings in a new report, noting that the current version has many characteristics of a traditional bubble.

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5

NEWS IN PICTURES
Enchanting performance

Scottish violin star Nicola Benedetti joined the outstanding British ensemble Orchestra of the Age of Enlightement to captivate an Abu Dhabi Festival audience with unparalleled renditions of works by Beethoven.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

MAG awards big contracts for $1.2bn Dubai project

UAE-based developer MAG Group has signed up Opal as the interior design consultant for its Dh4.7-billion ($1.27 billion) MAG Eye project coming up in Meydan, Dubai. VX Studio has been appointed peer review consultant.

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Retail & Wholesale

Saudi PIF mulls $400m fuding in US startup Magic Leap

Saudi Arabia’s sovereign wealth fund Public Investment Fund is in talks to invest as much as $400 million in Florida-based Magic Leap in a deal that would take the US tech start-up’s total fundraising to $2.3 billion, said a report.

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Energy, Oil & Gas

Opec sees record conformity to output cut deal

Opec and participating non-Opec producing countries have started 2018 with an outstanding conformity level in their voluntary production adjustments, reaching over 130 per cent, said a report.

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Finance & Capital Market

Abraaj in major revamp, names new leadership team

UAE-based Abraaj, a leading investor operating in emerging growth markets, has announced broad changes to the firm’s governance and operating model and also the appointment of a new leadership team.

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Analysis, Interviews, Opinions

How safe are you around your smart TV?

Now, you probably enjoy watching your smart TV, but chances are that you don’t want it to watch you, too, but ‘watch its watchers’ is precisely what these TVs can do, says an industry expert.

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Industry, Logistics & Shipping

Djibouti seizes control of port from DP World

The Government of Djibouti today 'illegally' seized control of the Doraleh Container Terminal from a Dubai Ports World owned entity that designed, built and operated the terminal since 2006, a DP World statement said.

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Travel, Tourism & Hospitality

IATA says 2017 safest year for global aviation industry

Commerical airline industry showed continued safety improvements in nearly all key metrics and regions in 2017 with the all accident rate (measured in accidents per 1 million flights) standing at 1.08 over 1.68 the previous year, said a report.

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IT & Telecommunications

Batelco 2017 revenues up 3pc to $380m

Bahrain-based Batelco, a regional telecom group, has posted revenues of BD379.4 million ($1,006.4 million) for the full year 2017, as compared to BD367.1 million ($973.7 million) in 2016 marking a 3 per cent rise.

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Lifestyle

Dorchester Collection to manage luxury project on The Palm

UAE-based developer Omniyat has announced that Dorchester Collection will manage its luxury One Palm development on The Palm Jumeirah, Dubai - the first residential development in the Middle East to be managed by the hospitality brand.

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Motoring

BMW to unveil new sports X4 at Geneva show

BMW will hold the world premiere for the new BMW X4, the new edition of the first Sports Activity Coupe at the premium end of the mid-size class at the Geneva International Motor Show running from March 8 to 18.

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Health & Environment

650 pharmaceutical firms to attend Dubai expo

More than 650 companies in the pharmaceutical industry from 75 countries will participate at the upcoming 23rd edition of Dubai International Pharmaceutical and Technology Conference and Exhibition (Duphat 2018), next week in Dubai, UAE.

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Media & Promotion

Saudi boosts global corruption perception index rankings

Saudi Arabia has made a remarkable progress in its fight against graft by ranking 57 in the latest 2017 Corruption Perception Index (CPI), moving up by five places from the previous year's ranking of 62, said a report.

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Education, HR & Training

Saudi Aramco sets up National Power Academy

Saudi Aramco, in association with nine local and international organizations, has established the National Power Academy (NPA) to provide the local and regional markets with highly qualified staff.

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Miscellaneous

Arab Forces shoot down missiles from Houthi militia

The Saudi-led Arab Coalition’s Patriot system intercepted two ballistic missiles fired by the Houthi militias on Marib Governorate inYemen and destroyed them before they reached the Yemeni city, said a report.

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