Tuesday 30 August 2016

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LINE 6 EXPANSION
Alba awards new PDS contract to Siemens

Aluminium Bahrain (Alba), one of the world's leading aluminium smelters, has announced that it has awarded Siemens the power distribution system (PDS) contract for Power Station 5 (PS 5), as part of its Line 6 project.

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1

$500m BOND PAY OFF IN OCT
Dewa says no fundraising plans for 2016 or 2017

Dubai Electricity & Water Authority (Dewa) has no plans to raise new funds in 2016 or 2017, Dewa managing director and chief executive Saeed Mohammed Al-Tayer told Reuters on Monday.

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2

TALKS UNDER WAY
Saudi Telecom, Lebara KSA mull Egypt 4G bid

Representatives from Saudi Telecom and Lebara KSA are in Egypt this week to discuss the possibility of obtaining a fourth-generation mobile phone licence, an official from Egypt's telecommunications ministry said on Monday.

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3

SPECIAL REPORT
Ransomware attacks nearly double this year

There has been a 172 per cent increase in ransomware and $3 billion in losses due to business email compromise (BEC) scams so far in 2016, as well as nearly 500 vulnerabilities in a variety of products, a report said.

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4

ANALYSIS
Cyber threat grows for bitcoin exchanges

When hackers penetrated a secure authentication system at a bitcoin exchange called Bitfinex earlier this month, they stole $70 million worth of the virtual currency. The cyber theft is one among many in the world of crypto-currencies.

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5

NEWS IN PICTURES
Raising the roof

Players practice under the newly-completed retractable roof atop Arthur Ashe Stadium a day before the start of the US Open Tennis Championship in New York on August 28. The retractable roof is the largest of any tennis stadium in the world.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Thyssenkrupp to supply 500 elevators to Doha Metro

Thyssenkrupp, a global leader in elevators, has been awarded a contract to manufacture, supply, install and maintain more than 500 elevators and escalators for the Red Line North, Green Line and two stations of Doha Metro network in Qatar.

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Retail & Wholesale
Energy, Oil & Gas

Iraq plans to sell oil through Iran if talks with Kurds fail

Iraq's government would consider selling crude through Iran should talks with the autonomous Kurdish region on an oil revenue-sharing agreement fail, a senior oil ministry official in Baghdad told Reuters.

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Finance & Capital Market

Egyptian parliament approves VAT at 13pc

Egypt's parliament approved on Monday a long-awaited law introducing a value added tax of 13 per cent which will rise to 14 per cent in the next fiscal year.

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Analysis, Interviews, Opinions

Ransomware attacks nearly double this year

There has been a 172 per cent increase in ransomware and $3 billion in losses due to business email compromise (BEC) scams so far in 2016, as well as nearly 500 vulnerabilities in a variety of products, a report said.

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Industry, Logistics & Shipping

SMEs to get $1.5bn of Expo 2020 Dubai spend

Expo 2020 Dubai has announced that 20 per cent of the expo’s total direct and indirect spend, representing more than Dh5 billion ($1.36 billion) in contracts, will be allocated to small and medium enterprises (SMEs).

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Travel, Tourism & Hospitality

Lausanne, an unmissable destination for foodies

Lausanne in Switzerland has increasingly become the ultimate hotspot as tourists across the world, especially from the GCC region, flock to the European city during the summer season.

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IT & Telecommunications

Saudi Telecom, Lebara KSA mull Egypt 4G bid

Representatives from Saudi Telecom and Lebara KSA are in Egypt this week to discuss the possibility of obtaining a fourth-generation mobile phone licence, an official from Egypt's telecommunications ministry said on Monday.

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Health & Environment

NMC Health expands in Saudi Arabia

NMC Health, a leading integrated private healthcare network operator in the UAE, has announced the addition of 260 beds spread across two Saudi Arabian assets in the key western and eastern regions of the kingdom.

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Media & Promotion

Etihad celebrates Emirati Women's Day

Etihad Airways has marked Emirati Women’s Day by announcing that more than half of the UAE nationals employed by the airline are women, including nearly 50 pilots.

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Education, HR & Training

Most UAE professionals prefer to be self-employed

Seventy-three per cent of professionals in the UAE would prefer to be self-employed, due to reasons such as ‘personal fulfilment’, ‘freedom to choose work-life balance’ and ‘the ability to be their own boss’, a report said.

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Miscellaneous

Cineco opens new Rendezvous restaurant in Riffa mall

Bahrain Cinema Company (Cineco), a market leader in the entertainment industry in the kingdom, officially inaugurated the new Rendezvous Restaurant in Wadi Al Sail Mall, Riffa with a ribbon cutting ceremony on August 25.

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