Sunday 19 September 2021

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40-STATION NETWORK
Drone-based transportation venture launched in Abu Dhabi

SkyGo has been established a unique transportation company specialised in using the latest drone technologies in a joint venture partnership with Ethmar Holding, APEX Al Wataniya Logistics and Averro Technology.

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REBOUND SEEN AT 5.3pc
Global economy set to grow fastest in 50 years: UNCTAD

While the global economy will bounce back with growth of 5.3% in 2021, the fastest in nearly 50 years, the rebound is highly uneven along regional, sectoral and income lines, according to UNCTAD’s Trade and Development Report 2021.

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SUSTAINABLE GLOBAL ENERGY HUB
Spark-Hutchison JV to operate Saudi dry port, logistics zone

King Salman Energy Park (Spark) has reached an agreement with Hutchison Ports to set up a joint venture that will manage and operate a 3-sq-km dry port and bonded logistics zone within the sustainable energy hub in Saudi Arabia’s Eastern Province.

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FOCUS
What makes UAE the region’s fastest-growing investment destination?

The UAE has been able to create a modern, dynamic and diverse economy in only 50 years. It is the desire to keep pushing forward, to keep extending the nation’s horizons, that has ensured the UAE remains a global investment destination.

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Top Trade News

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Industry Sectors

Construction & Real Estate

Hitachi ABB to supply GSUs for giant Abu Dhabi solar PV plant

Hitachi ABB Power Grids has won a contract to supply large generator stepup transformers (GSUs), protection and telecommunication systems for the Al Dhafra PV2 solar project in Abu Dhabi, which is set to become the world’s largest single-site solar farm.

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Retail & Wholesale

Majid Al Futtaim to hire 3,000 Emiratis across multiple industries

Majid Al Futtaim, a leading mall developer and retail pioneer in the region, has announced the expansion of its people development programme that will create around 3,000 job opportunities for Emiratis across multiple industries in the UAE and beyond.

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Energy, Oil & Gas

Adnoc sees potential for 2GW clean hydrogen with bp deal

Abu Dhabi National Oil Company (Adnoc) has signed strategic deals with energy groups bp and Masdar to expand upon UAE and UK’s longstanding track record of bilateral tieup in sustainability, including the potential development of 2GW clean hydrogen hubs.

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Finance & Capital Market

500 Startups closes largest fund raised to date

500 Startups, one of the world’s most active venture capital firms, has announced the closing of a $140 million global flagship fund--the firm’s largest fund to date--bringing assets under management to $1.8 billion.

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Analysis, Interviews, Opinions

Growth likely to slow to 4.5% in 2022, says report

Global economic growth is set to slow to 4.5% next year, as opposed to 6.2% this year, marking a considerable drop, but still a bit stronger than the years leading up to Covid, said Barclays in a new report.

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Industry, Logistics & Shipping

Spark-Hutchison JV to operate Saudi dry port, logistics zone

King Salman Energy Park (Spark) has reached an agreement with Hutchison Ports to set up a joint venture that will manage and operate a 3-sq-km dry port and bonded logistics zone within the sustainable energy hub in Saudi Arabia’s Eastern Province.

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Travel, Tourism & Hospitality

Ascott offers Saudi residents special National Day deal

International lodge owner-operator Ascott has launched a special promotion to celebrate Saudi National Day - which falls on September 23 - offering guests a 15 per cent off on a minimum of 2-nights' bookings at their properties in Jeddah and Al Khobar.

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IT & Telecommunications

Ooredoo seals $6bn Indonesia telecom merger agreement

Qatari telecom services operator Ooredoo and CK Hutchison Holdings have signed a $6 billion deal for the proposed merger of their Indonesian telco businesses in bid to create a larger and commercially stronger digital telco for the South East Asian countr

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Lifestyle

Madame Tussauds Dubai to open doors on October 14

Madame Tussauds Dubai will officially open its doors to the public on October 14. The world-famous wax attraction, located adjacent to Ain Dubai, is the first of its kind in the GCC and the 25th edition globally and will be open seven days a week.

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Health & Environment

Tadweer opens new recyclable waste unit in Abu Dhabi

Abu Dhabi Waste Management Center (Tadweer) has opened a new civic amenity for recyclable waste at Ruwais City within Al Dhafra Region in collaboration with Abu Dhabi National Oil Company (Adnoc).

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Media & Promotion

Abu Dhabi's twofour54 to sell mobile gaming studio for $205m

Media and entertainment hub twofour54 Abu Dhabi said it has reached an agreement with Stillfront Group to sell its mobile gaming studio Jawaker for AED753 million ($205 million), thus representing a key milestone in its regional expansion plan.

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Education, HR & Training

UAE University unveils Expo 2020 pavilion mascot

The United Arab Emirates University (UAEU) as the national flagship institution with an independent pavilion at Expo 2020 Dubai, introduces the Pavilion Mascot inspired by the theme University of the Future (UoF).

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Miscellaneous

Dubai plans to sets up international arbitration centre

Dubai's ruler has issued a new decree for the establishment of Dubai International Arbitration Centre (DIAC) by merging the operations and assets of the Emirates Maritime Arbitration Centre and Dubai International Financial Centre Arbitration Institute.

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