Sunday 31 May 2020

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OIL PRICES SET TO RECOVER
Bahrain, Abu Dhabi to see rebound in growth in 2021

Bahrain and Abu Dhabi will see a rebound in economic growth in 2021 as oil prices recover amid improving domestic demand and activity in the region increases, said S&P Global Ratings in a new report.

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1

23,500 VEHICLES PER HOUR
RTA completes work on 13 Dubai Hills Mall bridges

Dubai authorities said all the construction works related to the roads and bridges leading to Dubai Hills Mall project have been completed. It comprises 13 bridges running 3,700 m long and 22 m wide, with a total capacity of 23,500 vehicles per hour.

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2

WARNS OF UNIMAGINABLE SUFFERING
UN chief urges action on Covid, as 60m pushed into poverty

Unless countries act together now, the Covid-19 pandemic will cause "unimaginable devastation and suffering around the world," said UN Secretary-General António Guterres at a virtual high-level meeting on financing for development.

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3

FOCUS
Covid-19’s impact on the transport industry

Covid-19 is causing a dramatic decrease in transportation revenue that is causing a range of issues in both the short and long term, from pay decreases and redundancies to closures of long-standing businesses, says an industry expert.

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4

INSIGHT
Covid-19 to trigger 14pc decline in device shipments

Global shipments of devices (PCs, tablets and mobile phones) are on pace to decline 13.6 per cent in 2020, totalling 1.9 billion units, according to the latest forecast from leading research and advisory company Gartner.

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Top Trade News

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Industry Sectors

Construction & Real Estate

Ajman inaugurates new road bridge project

Ajman authorities have announced the opening of Etihad Road Bridge Project at the intersection of the Sheikh Zayed Mosque. The 2.5-km-long bridge will help serve vehicles coming from Ajman and heading to Ras Al Khaimah.

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Retail & Wholesale

BenQ unveils new wireless mini portable projector

BenQ, a leading global innovator of displays, has announced the launch of its latest mini wireless portable projector, BenQ GS2, which has been designed especially for modern lifestyles and family-oriented entertainment and learning.

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Energy, Oil & Gas

Petrofac seals Iraq contract extension with Basra Oil

Petrofac, a global service provider to the energy industry, said that it has secured a further six-month contract extension with Basra Oil Company (BOC) for its long-standing Iraq Crude Oil Export Expansion Project (ICOEEP).

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Finance & Capital Market

Quarter of UK firms shut down amid Covid lockdown: Report

UK's business sector has taken a huge hit, as the Covid-19 lockdown continues to wipe out revenue of thousands of firms across the country. A quarter of them have either closed or paused their trading as of April due to the dreaded virus, said a report.

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Analysis, Interviews, Opinions

Covid-19 to trigger 14pc decline in device shipments

Global shipments of devices (PCs, tablets and mobile phones) are on pace to decline 13.6 per cent in 2020, totalling 1.9 billion units, according to the latest forecast from leading research and advisory company Gartner.

More…
Industry, Logistics & Shipping

Drydocks World starts second project for Dutch windfarm

Drydocks World, a major service provider to marine and renewable energy sectors, has kicked off the production of a high voltage alternating current transformer (HVAC) station topside for British group Petrofac in Netherlands sector of the North Sea.

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Travel, Tourism & Hospitality

UNWTO launches guidelines to reopen tourism

The World Tourism Organization (UNWTO), the UN's specialized agency for tourism, has released a set of guidelines to help tourism sector emerge stronger and more sustainably from Covid-19.

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IT & Telecommunications

Schneider Electric launches services to manage distributed IT

Schneider Electric, a leader in digital transformation of energy management and automation, has launched its Monitoring & Dispatch Services, enabling IT solution providers and endusers to optimize resources.

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Lifestyle

UAE e-grocery market set for solid growth by 2025

UAE's online grocery delivery market has registered a double digit growth in the last three years owing to high internet penetration and rising working population. The demand is expected to grow further with a CAGR of 34 per cent by 2025, said a report.

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Health & Environment

Scandal-hit NMC Health files for bankruptcy in US

NMC Health, a major GCC healthcare operator that collapsed amid allegations of a multibillion-dollar fraud, has filed for bankruptcy in the US and could liquidate as it faces several lawsuits over its financial irregularities, said media reports.

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Media & Promotion

New dates announced for Gulf Print & Pack 2021

Gulf Print & Pack 2021, a leading print technology sourcing show for printers and Print Service Providers (PSPs), has been postponed to December 2021 due to the Covid-19 situation.

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Education, HR & Training

GAJ completes work on Arcadia school campus in Dubai

Godwin Austen Johnson (GAJ), a leading British architectural and design practice in the UAE, has completed work on Arcadia School’s secondary campus at Jumeirah Village Triangle, Dubai. This is the second Arcadia school designed and built by the firm.

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Miscellaneous

30pc to return to work in UAE ministries from May 31

The UAE’s Federal Authority for Government Human Resources (FAHR) has announced a return to work in all federal ministries, authorities and institutions as of May 31 and at a maximum 30 percent capacity of the total employees.

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