Friday 26 February 2021

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SHOWS HUGE SUCCESS
UAE Armed Forces signs $5.7bn deals at IDEX, Navdex

The UAE Armed Forces signed AED20.957 billion ($5.7 billion) worth of deals during the International Defence Exhibition (IDEX) and the Naval Defence Exhibition (Navdex) that concluded their exceptional 15th edition on Thursday (Feb 25) in Abu Dhabi.

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1

INDUSTRIAL SCALE PROJECT
Tawazun SDF, Titomic eye major 3D printing venture

Tawazun Strategic Development Fund (SDF) and Titomic, an Australian company, have signed a collaboration agreement to assess the potential of setting up a joint venture industrial scale 3D manufacturing facility in the UAE.

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2

BRICS to drive global gas markets: Novak

Alexander Novak, Deputy Prime Minister of the Russian Federation has said the development of the global gas market will be driven by the BRICS countries, where witness natural gas is expected to grow by almost 50 per cent by 2040.

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3

ANALYSIS
Future-ready adoption ‘could unlock $5.4trn in growth’

The pandemic-driven acceleration of digital adoption and the resulting new agile ways of operating could unlock $5.4 trillion in profitable growth if applied broadly, according to a new report by global professional services firm Accenture.

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4

TECHNOLOGY
IoT predictions for 2021: Smarter tech for better business

While the pandemic has disrupted daily routines and accelerated the adoption of new technologies, many of such trends will continue into 2021, and there are strong implications for the Internet of Things (IoT), says an industry expert.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Gartner to provide advisory services for Red Sea project

The Red Sea Development Company (TRSDC), the developer behind one of the world's most ambitious tourism initiatives in Saudi Arabia, has signed up global research firm Gartner to provide technology procurement advisory services for the project.

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Retail & Wholesale

Majid Al Futtaim's 2020 revenue down 7pc as Covid crisis bites

Majid Al Futtaim, a leading shopping mall developer and retail and leisure pioneer in the region, has reported a 7 per cent drop in its revenue for FY 2020, which fell to AED32.6 billion ($8.87 million) mainly hit by the impact of Covid-19 pandemic.

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Energy, Oil & Gas

Saipem secures $1.7bn Qatar offshore project contract

Saipem, a leading engineering, drilling and construction company, said it has been awarded a major contract worth $1.7-billion by Qatargas for the development of the North Field Production project, located offshore Qatar peninsula.

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Finance & Capital Market

Tawazun unit launches $190m venture debt programme for SMEs

Strategic Development Fund (SDF), the investment arm of UAE-based Tawazun, has announced the funding of eight supply chain and three capex contracts towards five SMEs through its AED700 million ($190 million) venture debt programme.

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Analysis, Interviews, Opinions

Future-ready adoption ‘could unlock $5.4trn in growth’

The pandemic-driven acceleration of digital adoption and the resulting new agile ways of operating could unlock $5.4 trillion in profitable growth if applied broadly, according to a new report by global professional services firm Accenture.

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Industry, Logistics & Shipping

Hamriyah Free Zone signs deal with Al Aliyo Hydrofarms

The Hamriyah Free Zone Authority has just added another industry leader to its global base of investors after signing an investment agreement with Al Aliyo Hydrofarms, the hydroponic fodder farming industry, at Gulfood 2021.

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Travel, Tourism & Hospitality
IT & Telecommunications

Du announces foreign ownership limit increase to 49%

The Emirates Integrated Telecommunications Company (du) said that it has raised its foreign ownership, enabling non-UAE nationals - whether individuals, establishments, or companies - to own shares in the company up to 49 percent of the share capital.

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Lifestyle
Health & Environment

Nizwa signs deal to fund Shifa hospital construction

Oman-based Bank Nizwa said it has reached an agreement with Shifa Hospital to finance the construction of its new healthcare facility in the sultanate. The hospital, to be built on a 10,000-sq-m area, will have a multispecialty unit in the first phase.

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Media & Promotion

World's largest stadium with over 132,000 seats opens in India

India has officially opened the world's largest cricket stadium that can accommodate an awe-inspiring 132,000 spectators. A state-of-the-art facility, the Narendra Modi stadium has been built at a cost of $800 million in the western state of Gujarat.

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Education, HR & Training

Tamkeen relaunches development programmes

Labour fund Tamkeen has announced the relaunch its individual development programmes with an updated comprehensive platform aimed at helping Bahraini job seekers, employees, students and business owners.

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Miscellaneous

UAE tops Mena in women’s economic rights, laws: WB

The UAE has topped the Mena region rankings in the World Bank’s newly released 2021 ‘Women, Business and the Law’ (WBL) report, with the ratings seeing a significant leap in legislative reforms implemented over the past few years.

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