Tuesday 23 October 2018

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BOOST FOR IKTVA SCHEME
Saudi Aramco signs 15 strategic deals worth $34bn

Saudi Aramco has signed 15 strategic and commercial collaborations valued at more than $34 billion with 15 partner companies from eight countries at the Future Investment Initiative (FII) forum in Riyadh, Saudi Arabia.

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1

53.6m TEU HANDLED
DP World reports 3.7pc container volume growth

DP World handled 53.6 million TEU across its global portfolio of container terminals in the first nine months of 2018, with gross container volumes growing by 2.6 per cent year-on-year on a reported basis and 3.7 per cent on a like-for-like basis.

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2

GIANT PHOSPHATE COMPLEX
Korea's Daelim wins $892m Saudi Ma'aden plant contract

South Korea's construction giant Daelim has won a SR3.4-billion ($892 million) engineering, procurement and construction (EPC) contract from Saudi Ma’aden for the first plant at its large-scale phosphate complex (Phosphate 3) in the kingdom.

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3

ANALYSIS
Electric vehicles ‘to reach 12pc of car sales by 2025’

Electric vehicles (EVs) will rise from 1 per cent of car sales in 2017 to 2.5 per cent in 2020, and 12 per cent in 2025 and 24 per cent when including full and plug in hybrid vehicles (xEVs), said the Bank of America Merrill Lynch (BofAML).

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4

ANALYSIS
Mena enterprise IT spend ‘will grow 9.8pc in 2019’

Mena spending on enterprise information security technology and services is on pace to reach $1.9 billion in 2019, an increase of 9.8 per cent over 2018, according to the latest forecast from research and advisory company Gartner.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Imkan begins work on Abu Dhabi community project

Imkan, a leading property developer renowned for creating soulful places, has started the construction work on its community-living project, Pixel, which is being developed as part of the iconic mixed-use Makers District in Abu Dhabi.

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Energy, Oil & Gas

Saudi Ma'aden awards major phosphate plant contract

Saudi Arabian Mining Company (Ma’aden) has awarded a SR3.4-billion ($892 million) engineering, procurement and construction (EPC) contract to Korean group Daelim for its first plant at the giant phosphate complex (Phosphate 3) in the kingdom.

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Finance & Capital Market

FAB posts 16pc surge in Q3 net profit to $816m

First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest and safest financial institutions, has reported third quarter earnings at Dh3 billion ($816 million), up 16 per cent year-on-year, a media report said.

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Analysis, Interviews, Opinions

Five themes to shape the world over the next 5 years

The Bank of America Merrill Lynch (BofAML) has identified in its new Thematic Investing report the five most influential themes that should shape our world over the next five years.

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Industry, Logistics & Shipping

DP World reports 3.7pc container volume growth

DP World handled 53.6 million TEU across its global portfolio of container terminals in the first nine months of 2018, with gross container volumes growing by 2.6 per cent year-on-year on a reported basis and 3.7 per cent on a like-for-like basis.

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Travel, Tourism & Hospitality

Banyan Tree Residences on track for 2019 opening

The Middle East’s first Banyan Tree Residences, located in Dubai, is on track to open in September 2019, as the project celebrates reaching the roof level this week - a key marker in the construction of the luxury development stretching over 2.5 acres.

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IT & Telecommunications

Etisalat, Musanada partner for hospital project

UAE-based telecom group Etisalat has entered into a strategic partnership with Abu Dhabi General Services (Musanada) to provide end-to-end ICT solutions for the new Al Ain Hospital.

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Lifestyle
Motoring

Saudi ‘to see 3m new female drivers by 2020’

Saudi Arabia’s automotive ecosystem is set for a rapid transformation in the coming years, with 20 per cent of the female population, or three million drivers, expected to be added to the Kingdom’s roads by 2020, a recent whitepaper said.

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Health & Environment

NMC Healthcare upgrades revenue growth estimates

UAE-based NMC Healthcare has announced an upgrade in projected revenue growth during 2018, from 22 percent to 24 percent, with projected EBITDA guidance for the year rising from $465 million to $480 million at year-end.

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Media & Promotion

UAE to host 26th World Volunteer Conference

The UAE has been unanimously selected by the International Association for Volunteering Effort (IAVE) as the host country for the 26th World Volunteer Conference in October 2020, a media report said.

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Education, HR & Training

Mercer opens new office in Abu Dhabi

Mercer, a global consulting leader in advancing health, wealth and career and a wholly owned subsidiary of Marsh & McLennan Companies, has opened a new office in Abu Dhabi, UAE.

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Miscellaneous

UAE’s FCSA signs 10 tie-ups to bolster data system

UAE’s Federal Competitiveness and Statistics Authority (FCSA) has signed 10 memorandums of understanding (MoUs) and strategic partnership agreements that aim to develop national capabilities in the field of statistics.

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