Thursday 26 April 2018

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RELIGIOUS TOURISM BOOM
Saudia to boost fleet strength to 200 jetliners by 2020

Saudi Airlines is set to boost its fleet strength to 200 jetliners over the next two years as the kingdom embarks on an ambitious plan to grow the religious tourism targeting over 30 million pilgrims by 2030, said a top official.

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FOCUS ON 10 GOVT SECTORS
Saudi Arabia launches privatization programme

Saudi Arabia’s Council of Economic Development and Affairs (CEDA) announced the official launch of the nation's Privatization Programme, which aims to boost the contribution of sectors to the national economy through a range of initiatives.

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LEGISLATIVE STRUCTURE 'IN PLACE'
Bahrain PM vows support to real estate, construction

Bahrain government has put in place a suitable atmosphere, as well as a legislative and technical infrastructure to support investment in the real estate and construction sector, said HRH Premier at a major industry event in Manama.

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3

ANALYSIS
UAE top wealth management location for HNWIs

The UAE’s tax efficient system and sustainable economic model make it the most attractive wealth management destination for High Net-Worth Individuals (HNWIs) in the GCC, said Emirates Investment Bank (EIBank) in a new report.

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4

ANALYSIS
GCC opening up to major solar energy projects: S&P

The GCC region is opening up to major solar projects, taking advantage of its sunny climate and large tracts of available land, said S&P Global Ratings, a leader in financial research and analysis.

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NEWS IN PICTURES
Be a star

Thirty children from Al Oula, a non-profit organisation which aims to lift youngsters out of poverty, met with WWE superstars Mark Henry and Mojo Rawley in Jeddah, Saudi Arabia, as part of WWE’s 'Be A Star' programme.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Azizi's Dubai waterfront project set for 2019 completion

UAE-based Azizi Developments said work was moving at a steady pace on the Dh12-billion ($3.26 billion) Azizi Riviera, its flagship project at the Meydan One near Dubai Water Canal, with the final phase set for completion by the end of 2019.

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Retail & Wholesale

Emaar Malls agrees dividend of $354m for 2017

Emaar Malls, the shopping malls and retail business of Emaar Properties, has approved the distribution of cash dividends amounting to Dh1.3 billion ($353.9 million), representing 10 per cent of the share capital for 2017.

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Energy, Oil & Gas

Adnoc to set up unit for non-speculative trading

The Abu Dhabi National Oil Company (Adnoc) said it is setting up a new unit to manage non-speculative trading to further maximize value from every barrel of crude oil and refined product that is produced and marketed by the company.

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Finance & Capital Market
Analysis, Interviews, Opinions

UAE top wealth management location for HNWIs

The UAE’s tax efficient system and sustainable economic model make it the most attractive wealth management destination for High Net-Worth Individuals (HNWIs) in the GCC, said Emirates Investment Bank (EIBank) in a new report.

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Industry, Logistics & Shipping

Itqan Investments buys Byrne Group in $272m deal

Dubai-based Itqan Investments together with Tamar VPower Energy Fund and CITIC Pacific has acquired Byrne Equipment Rental in a deal valued at approximately Dh1 billion ($272 million).

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Travel, Tourism & Hospitality

Gulf Air showcases new Dreamliner business class seat at ATM

Guests at the Bahrain stand at Dubai's Arabian Travel Market (ATM) will have the opportunity to experience Gulf Air’s incoming Boeing 787-9 Dreamliner business class seat, the airline's new premium product.

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IT & Telecommunications

Data of 14 million Careem customers stolen

Personal data of more than 14 million customers of Middle East's popular ride-hailing service Careem in the Middle East, North Africa, Pakistan and Turkey have been stolen by cyber criminals, reports said.

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Lifestyle

Award-winning designer World Tricot makes GCC debut

Artisan Chic design house, World Tricot, is making its GCC debut at Interiors Expo 2018, the biggest integrated business-to-business showcase for the interiors sector in the Northern Gulf region, being held in Manama, Bahrain.

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Motoring

Dubai plans 850 km cycling lanes by 2030

Dubai's Roads and Transport Authority (RTA) is set to expand the total length of cycling lanes in the emirate to 850 km by 2030 as part of its efforts to make Dubai one of the best cities in providing cycling lanes.

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Health & Environment

Moody's assigns stable outlook rating to NMC

Moody's Investors Service has assigned a Ba1 corporate family rating (CFR) and Ba1-PD probability of default rating to NMC Health, the largest healthcare provider in the UAE (UAE, Aa2 stable). The outlook on the ratings is stable.

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Media & Promotion

Cinemacity to open three 4DX locations in Saudi

Cinemacity, a leading cinema exhibitor in Saudi Arabia, has partnered with South Korea’s CJ 4DPLEX, the world's first 4D cinema company, to open three 4DX locations in Riyadh and other major Saudi cities by the end of this year.

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Education, HR & Training

Dubai eyes first urban-styled student housing community

Dubai International Academic City (DIAC) has announced plans to build The Myriad Dubai, the first urban-styled fully integrated, purpose-built student housing community within its premises in Dubai by 2020.

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