Friday 22 June 2018

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PLAN TO TRAIN EMIRATIS
UAE, South Africa sign deal for space exploration

The UAE Space Agency has signed its first memorandum of understanding (MoU) with the South Africa National Space Agency (Sansa) that outlines a framework for cooperation in the peaceful exploration and use of outer space.

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1

SOLID INVESTOR BACKING
Dana Gas wins approval for $700m sukuk restructuring

Dana Gas said it has won approval from its investors to complete the consensual restructuring of a $700-million sukuk (Islamic bond). The Emirati group has several exploration and production assets in Egypt, Kurdistan (Iraq) and the UAE.

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2

$1bn RESTRUCTURING UNDERWAY
Abraaj agrees to sell 4 major market funds to US group

US-based Colony Capital, a global real estate and investment management firm, has inked a deal with Abraaj to buy four of its top emerging market funds days after the troubled Dubai-based investor launched a court-supervised restructuring.

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3

ANALYSIS
Global air traffic management market to top $5bn

Driven by greater demand for new technologies, mainly VoIP, remote towers, predictive technologies, and automation systems, the global air traffic management (ATM) market is expected to reach $5.21 billion by 2025, a report said.

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4

ANALYSIS
Wind, solar to meet 50pc of global power needs by 2050

Wind and solar sector will be instrumental in 50 per cent of global power generation by 2050 on the back of reductions in cost and the advent of cheaper batteries, that will enable electricity to be stored and discharged, said a new study.

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5

NEWS IN PICTURES
Captivating performance

Disney's most-loved characters enthralled more than 27,000 visitors from the kingdom and abroad during its Disney On Ice: Passport to Adventure show, which concluded at the Bahrain International Exhibition and Convention Centre on June 20.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Five major firms in race for $745m Saudi canal project

Five international companies with expertise in digging canals are in the race for the 60-km-long Salwa canal project, that will turn Qatar into an island, erasing the land border between the two Gulf states, said a report.

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Retail & Wholesale

Magic Planet opens at The Avenues mall in Bahrain

Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia, has announced the opening of its Magic Planet outlet at The Avenues mall in Bahrain.

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Energy, Oil & Gas

Fluor readies first modules for Kuwait refinery project

Fluor Corporation, a global engineering, procurement, fabrication and construction company, has announced the arrival of the first modules for the Kuwait Integrated Petroleum Industries Company (Kipic) Al Zour project in Kuwait.

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Finance & Capital Market

Qatari banks cancel three-way merger as GCC boycott bites

Three of the Qatar’s top banks - Masraf Al Rayan, Barwa Bank and the International Bank of Qatar - have called off the three-way merger they had been negotiating since 2016, thus earning a credit negative for its banking system from Moodys.

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Analysis, Interviews, Opinions

Five steps to create a better customer experience

Security leaders must put the focus on customer experience, said leading research and advisory firm Gartner, highlighting five things security and risk leaders can work on now to create a better experience for their executives.

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Industry, Logistics & Shipping

Dana Gas wins approval for $700m sukuk restructuring

Dana Gas said it has won approval from its investors to complete the consensual restructuring of a $700-million sukuk (Islamic bond). The Emirati group has several exploration and production assets in Egypt, Kurdistan (Iraq) and the UAE.

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Travel, Tourism & Hospitality
IT & Telecommunications

Huawei unveils solution to help oil sector build energy IoT

Huawei has unveiled its 4.5G-based, 5G-oriented eLTE-DSA Solution which leverages wireless narrowband Discrete Spectrum Aggregation (DSA) technology to help the oil and gas industry build an energy IoT.

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Lifestyle

Arada to launch key phase of Sharjah community project

UAE-based developer Arada is set to launch Phase Four of its premium Sharjah community, Nasma Residences, which includes Bareem Townhouses, a stylish collection of two- and three-bedroom homes created for couples and young families.

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Motoring

Euro Motors enables JLR buy on website

Euro Motors, the exclusive dealer for Jaguar Land Rover in Bahrain, now allows customers to purchase any Jaguar or Land Rover with ease through Euro Motors Jaguar Land Rover’s exclusive websites.

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Health & Environment

Rashid Hospital first to conduct InterStim technique

Rashid Hospital, a unit of Dubai Health Authority, said it has become the first facility in Dubai to implement sacral nerve stimulation for treatment of foecal incontinence (inability to control bowel movements) and chronic constipation.

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Media & Promotion

Novo Cinemas CEO gets global advisory role

Homegrown movie chain Novo Cinemas, a pioneer in the introduction of Imax technology in the UAE, said its CEO Debbie Stanford-Kristiansen has been appointed as a member of the Advisory Council of CTC, the global cinema technology network.

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Education, HR & Training

DHA opens application for scholarships

The Dubai Health Authority (DHA) is now accepting applications for Emirati high school graduates who are seeking scholarships in the fields of medicine, nursing and other healthcare-supporting fields.

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Miscellaneous

Blends & Brews opens new outlet in Ajman

Blends & Brews Coffee Shoppe, the UAE-born chain of international coffee shops owned by Thumbay Group, opened its new outlet at Ajman in style by printing the photograph of late Sheikh Zayed on the inaugural coffee made at the event.

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