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MAJOR LOCALISATION BID
SAMI acquires 100pc stake in Advanced Electronics Co
Saudi Arabian Military Industries (SAMI) has signed a term sheet agreement to acquire 100 per cent ownership in Advanced Electronics Company (AEC), an offset programme company.
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SAUDI ARABIA TOP IMPORTER
Bahrain-origin exports soar 16pc in May to hit $553m
The value of Bahrain-origin origin exports increased by 16 per cent as it reached BD210 million ($553.2 million) during May of versus BD181 million for the same month of 2018, the Information & eGovernment Authority (iGA) said.
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STRATEGIC ACQUISITION
Chinese fund SRF buys 49pc stake in Acwa Power unit
China's Silk Road Fund (SRF) has reached an agreement with Saudi-based Acwa Power, a major developer of water and power desalination projects, to acquire 49 per cent of the shares in the group's renewable energy platform Acwa Power RenewCo.
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INTERVIEW
Small Malta has many things to offer: Minister
Malta is keen to enhance its bilateral relations with all the Gulf countries, even as it enjoys good ties with them, Malta’s Minister for Foreign Affairs and Trade Promotion, Carmelo Abela, has said.
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Galactic getaways, 3D printed dinners - welcome to hotel of 2119
Intergalactic getaways, fast-food pills, 2- to 3-hour working days and adaptable, personalised rooms that can transport guests everywhere from jungles to mountain ranges - these are the things to come, according to a future trends prediction.
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Summer surprise
Dubai Summer Surprises (DSS) returns this year for its 22nd edition, making Dubai the ultimate destination to be in this summer. The annual festival will run from June 21 to August 3 and will offer exciting events, sales, hotel and spa deals, and more.
Top Trade News
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 | Industry Sectors |
ICD Brookfield inks lease deal for prime Dubai property
UAE-based ICD Brookfield said it has signed pre-let agreements with top Swiss wealth management group Julius Baer, leading corporate and investment banking firm Natixis and a global law firm, for a total area of 55,000 sq ft in Dubai.
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Al Salam Bank offers cash back chance on cards
Al Salam Bank-Bahrain, a pioneering Shari’a-compliant bank in the kingdom, has announced the launch of a new summer offer on its range of Visa credit and prepaid cards.
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Chinese fund SRF buys 49pc stake in Acwa Power unit
China's Silk Road Fund (SRF) has reached an agreement with Saudi-based Acwa Power, a major developer of water and power desalination projects, to acquire 49 per cent of the shares in the group's renewable energy platform Acwa Power RenewCo.
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UAE launches new anti-money laundering platform
The UAE has become the first country in the Gulf to launch a new reporting platform developed by the United Nations Office on Drugs and Crime (UNODC) to curb organised crimes.
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Traditional vs crypto passive income
Financial barriers common among traditional income investments are replaced by more technical ones, as more adventurous investors seek to add them to their crypto portfolios, said a report from INDX, a UK-based crypto passive income fund.
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Nawah Energy signs service deal with Doosan
Nawah Energy Company has signed a maintenance service agreement (MSA) with Doosan Heavy Industries & Construction (DHIC), a subsidiary of the Doosan Group, for the Barakah nuclear energy plant in the UAE.
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Turkish Airlines, LOT Polish expand codeshare network
Star Alliance members Turkish Airlines and LOT Polish Airlines expanded their codeshare network.
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Etisalat, Ericsson showcase 5G, IoT in UAE roadshow
UAE-based telecom group Etisalat has collaborated with networking leader Ericsson to showcase emerging 5G and Internet of Things (IoT) trends, technology updates, Artificial Intelligence and automation in a technology roadshow.
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Abu Dhabi plays key role in historic French theatre revamp
The Château de Fontainebleau’s historic Imperial Theatre in France has reopened to the public, following years of restoration works made possible by contributions from the Department of Culture and Tourism - Abu Dhabi (DTC Abu Dhabi).
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MG Motor to launch 3 new models in Middle East
British automotive brand MG Motor said it will launch three brand new models across the Middle East in the second half of 2019.
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DHA e-platform to monitor dispensing of medication
The Dubai Health Authority (DHA) has launched a new unified electronic platform to monitor the dispensing of opioid pain medication to all government and private health facilities in partnership with the Ministry of Interior.
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Twitter chief launches #YouthForGood in UAE
Twitter CEO Jack Dorsey has launched a major philanthropic initiative, #YouthForGood, on his debut visit to the UAE together with the UAE’s Youth Hub and Shamma bint Suhail Faris Al Mazrui, Minister of State for Youth Affairs.
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AIA Dubai to open affordable IB School
Ambassador International Academy (AIA Dubai), a leading operator of schools will launch Dubai’s first affordable International Baccalaureate (IB) school, built on education excellence with global quality standards in September.
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Saudi Arabia starts Premium Residency scheme
Saudi Arabia's Premium Residency Center has started receiving applications for obtaining the Saudi Premium Residency through the electronic platform "Saprc" (saprc.gov.sa), said a report.
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