Saturday 15 August 2020

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NEW LAWS PLANNED
Dubai to become bicycle-friendly city

Dubai is set to introduce new laws and legislations to promote cycling both as a sport and a means of eco-friendly transport. It will also adopt global best practices and safety and security measures needed to develop a bicycle-friendly infrastructure.

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1

DEAL ON WEST BANK MOVES
HISTORIC: UAE, Israel to establish formal ties

In an historic breakthrough, the United Arab Emirates (UAE) and Israel have agreed to the full normalisation of relations between the two countries. US President Donald Trump helped broker the agreement.

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2

WATERFALLS INITIATIVE
UAE launches program to train 1m healthcare staff

The UAE has launched a global project that aims to deliver continuous education for around 1 million doctors, physicians, pharmacists, technicians, and specialists in the hospital management sector and the humanitarian field.

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3

SPOTLIGHT
Most UAE residents favour cashless economy: study

A large majority of UAE residents (63%) consider it very or fairly positive if their country became cashless, according to a new survey held by international Internet-based market research and data analytics firm YouGov.

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4

ANALYSIS
Covid impact could be reform positive, say Saudi experts

Most thought leaders and decision makers in Saudi Arabia anticipate that Covid-19 will be a positive accelerant of the transformation already underway in the Kingdom, according to a new report.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Al Owais Real Estate launches ‘Smart-Move’ plan for UAE tenants

UAE-based Sultan bin Ali Al Owais Real Estate has unveiled a 90-day campaign, Smart- Move for new tenants across its 3000+ properties offering flexible rent payment plans, zero percent commission and lower move-in costs.

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Retail & Wholesale

Mezzan Holding reports $439m H1 revenue

Mezzan Holding, one of the largest manufacturers and distributors of food, beverage, FMCG and healthcare in the Gulf, reported a revenue of KD134.3 million ($439.02 million) for the first half of 2020, up 16% compared to the same period last year.

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Energy, Oil & Gas

Masdar to buy 50pc stake in EDF's US clean energy portfolio

Leading clean energy developer Masdar has announced its second strategic investment in the US in a deal with EDF Renewables North America that will see it acquire a 50 per cent stake in a 1.6-gigawatt (GW) clean-energy portfolio.

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Finance & Capital Market

ADIB reports H1 net profit of $160 million

Abu Dhabi Islamic Bank (ADIB) has reported a net profit of AED587.6 million ($160 million) and AED2.5 billion in net revenue for the first half of the year (H1).

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Analysis, Interviews, Opinions

Saudi telco trends likely to continue post-Covid: BCG

Fifty-three per cent of residents in Saudi Arabia who responded to a survey expect the changes in consumption trends to continue beyond the lockdown, highlighting the importance of telco services in the Kingdom, a report said.

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Industry, Logistics & Shipping

Italian Dairy Products announces Sharjah plant expansion

Italian Dairy Products, one of the UAE’s largest factories producing Italian cheese and other dairy items, said it has doubled up the total size of its factory to 26,000 sq ft as the Sharjah-based group gears up for further regional expansion.

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Travel, Tourism & Hospitality

Istanbul Airport first to get ACI health accreditation

Airports Council International (ACI) World, the trade association of the world’s airports, and ACI EUROPE have announced that Istanbul Airport is the first airport to be accredited through its new Airport Health Accreditation programme.

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IT & Telecommunications

Huawei releases full-stack Ascend AI software

Huawei has released the full stack Ascend AI software at the Huawei Ascend Innovation (HAI) 2020 conference, setting a new milestone as Huawei and partners are making strides forward to bring AI to reality.

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Lifestyle

1970 Rolex star of Bonhams sale

The touchstone of Rolex watches, a c 1970 Cosmograph Daytona ‘Paul Newman’, was the top lot in the recent Bonhams Fine Watches Sale at New Bond Street, London, selling for £237,563 ($310,579), double its pre-sale estimate.

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Health & Environment

UAE launches program to train 1m healthcare staff

The UAE has launched a global project that aims to deliver continuous education for around 1 million doctors, physicians, pharmacists, technicians, and specialists in the hospital management sector and the humanitarian field.

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Media & Promotion

Swicorp announces opening of new AMC cinema at Saudi mall

Leading asset management firm Swicorp said its real estate investment traded fund, Swicorp Wabel REIT has announced the opening of a multi-screen cinema theatre at one of its properties, Al Makan Mall, situated in the Saudi city of Hafr Albatin.

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Education, HR & Training

Sezad launches first higher education college at Duqm

The Special Economic Zone Authority at Duqm (Sezad) has set up the first higher education college in the Special Economic Zone at Duqm, in partnership with Iskan Oman Investment Company and Middle East Education Venture.

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Miscellaneous

India marks 74th I-Day in style, with 'Make for World' call

India celebrated its 74th Independence Day in a manner befitting the occasion but with all Covid precautionary measures. A key highlight was the launch of National Digital Health Mission by PM Modi, under which all Indians will get a digital health ID.

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