Monday 22 April 2019

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CHINA FORUM
Meraas, Samanea sign deal for $272m mall in Dubai

Dubai-based Meraas and Singapore-based Chinese company Samanea Group have signed a memorandum of understanding (MoU) for the development of a Dh1-billion (272.26 million) mall near Dubai International City.

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GOVT INITIATIVES WEIGH
Dubai forecasts 2.1pc real GDP growth in 2019

Government-led policy initiatives and investments, improved growth prospects in trading partners, and preparation to host Expo 2020 Dubai are expected to drive the Emirate’s real GDP growth rate to reach 2.1 per cent in 2019.

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2

7.9pc GROWTH SEEN
UAE’s logistics, distribution sectors hit $20.9bn

The total value of the UAE’s logistics and distribution sectors have grown to Dh76.78 billion ($20.90 billion) in 2017 and represent about 5.4 per cent of the Dh1.42 trillion ($386.5 billion) economy, according to the Annual Economic Report 2018.

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3

ANALYSIS
Soft start for GCC IPOs, but expect rebound, says expert

The level of IPO activity in the GCC is expected to rebound compared to the levels seen in the first quarter as a number of companies in the region have indicated their intention to list in the next 12 to 18 months, said an industry expert.

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4

ANALYSIS
GCC to see marginal economic growth in 2019: ICAEW

The GCC economy will be weighed down by renewed Opec-plus oil production cuts and lower oil prices, and is expected to post a marginal improvement of 2.3 per cent economic growth in 2019, said ICAEW’s latest Economic Insight report.

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5

NEWS IN PICTURES
The Phantom of the Opera unmasked

Award-winning performer Jonathan Roxmouth will play the lead role of ‘The Phantom’ in the Middle East debut of the world’s most popular musical, The Phantom of the Opera, taking place in Dubai this October.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

$76.5m Mohamed bin Zayed City roads project ready

Abu Dhabi General Services Company (Musanada) has announced the completion of 'Z35 Roads and Infrastructure Project’ valued at Dh280.7 million ($76.5 million) at Mohamed bin Zayed City, a media report said.

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Retail & Wholesale

PAN Emirates opens new store in The Mall at WTCAD

PAN Emirates Home Furnishings, a leading home-grown indoor, patio and outdoor furniture brand in the region, has launched a new store at The Mall at World Trade Center Abu Dhabi (The Mall at WTCAD).

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Energy, Oil & Gas

Top Masdar executive named Tabreed CEO

UAE-based district cooling company Tabreed has appointed Bader Saeed Al Lamki as its new chief executive effective April 21. An industry veteran, Al Lamki comes from Masdar, where he was the executive director of the Clean Energy Directorate.

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Finance & Capital Market

Dubai forecasts 2.1pc real GDP growth in 2019

Government-led policy initiatives and investments, improved growth prospects in trading partners, and preparation to host Expo 2020 Dubai are expected to drive the Emirate’s real GDP growth rate to reach 2.1 per cent in 2019.

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Analysis, Interviews, Opinions

Bilingual communication most demanded skill in UAE

Most UAE employers are demanding ‘good communication in English and Arabic’ as well as ‘being a team player’ as top skills for their hires this year, according to research by Bayt.com and YouGov.

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Industry, Logistics & Shipping

UAE strategy aims to be leader in AI by 2031

The UAE Cabinet has adopted the National Artificial Intelligence Strategy 2031 that aims at positioning the UAE as a global leader in artificial intelligence by 2031.

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Travel, Tourism & Hospitality

Time Hotels to open five new properties in ME

UAE-based Time Hotels has unveiled plans to open five new properties across the Middle East during 2019 – as it targets 35 properties by 2025. The properties will be unveiled during Arabian Travel Market 2019, which will take place in Dubai next week.

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IT & Telecommunications

Mena software spend tops $6 billion

The digital transformation of the Mena region’s small- and medium-sized enterprises and smart cities is driving regional software spend to top $6 billion, industry experts said.

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Lifestyle

Maison Privee unveils new luxury hospitality concept

Maison Privee, the Dubai-based leading luxury vacation rentals provider has teamed up with specialist luxury lifestyle company, MyConcierge to offer guests a chance to experience what life is like for the city’s elite.

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Motoring

EMC-CV, Erduman sign deal for bodywork solutions

Emirates Motor Company Commercial Vehicles (EMC CV) has entered into a new agreement with Erduman Automotive, a leading Turkish automotive bodywork company, for the manufacturing and conversion of people-mover vans and buses.

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Health & Environment
Media & Promotion

Snapchat announces advertising partners for Commercials

Snapchat, a social media platform, has announced a line-up of advertising partners for the debut of Commercials. It is Snapchat’s six-second un-skippable ads that run across Snapchat Shows in the UAE and Saudi Arabia.

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Miscellaneous
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