Friday 24 September 2021

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MATSA DEAL LIKELY BY Q1 2022
Australian group Sandfire buys Mubadala JV unit for $1.85bn

Australian group Sandfire has reached an agreement with Abu Dhabi-based Mubadala and global commodities trader Trafigura for the acquisition of one its joint ventures, Matsa, a mining company based in Spain, in a deal worth €1.58 billion ($1.85 billion).

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2040 URBAN MASTERPLAN
Dubai allocates $17bn for new Emirati housing programme

Dubai government has allocated AED65 billion ($17 billion) in funding for an Emirati housing programme coming up in the emirate. The budget will be spent over the next two decades on providing the highest standards of urban infrastructure and facilities.

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2

GOALS HIGHLIGHTED AT AHIC
Perfect time to invest in Saudi tourism, says minister

The mammoth potential for hospitality investment in Saudi Arabia (KSA) was highlighted today at the AHIC Conference in Dubai by a top Saudi tourism official who said it is the perfect time to invest in the Kingdom's tourism sector.

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Innovation in MedTech driving cost-effective care

Medical devices are allowing new methods of treatment to be implemented into healthcare systems around the world. MedTech is uniquely placed to bring about positive change across global healthcare systems, says an expert.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Abu Dhabi’s construction, building materials' sectors post solid growth

AD Ports Group has announced that the number of construction and building material sector licences within its Industrial Cities and Free Zone Cluster in Abu Dhabi has risen to 281 in August. The 12.7-millon-sq-m cluster comprises Kizad and ZonesCorp.

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Retail & Wholesale

Alsayah Square seals leasing deal with Americana Restaurants

Alsayah Square, the first commercial and medical complex of its kind at Busaiteen in Bahrain, said it has signed a leasing agreement with Americana Restaurants for the opening of key food and beverage brands - Krispy Kreme and Pizza Hut.

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Energy, Oil & Gas

Natural gas to play pivotal role for next 50 years: Al Jaber

Natural gas is set to play a pivotal role in powering economic growth in the UAE over the next 50 years, according to Dr Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and Managing Director and Group CEO of Adnoc.

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Finance & Capital Market

Adnoc Drilling IPO size of offering increased

The Abu Dhabi National Oil Company (Adnoc) has increased the number of ordinary shares offered in the Initial Public Offering (IPO) of Adnoc Drilling from 1,200,000,000 ordinary shares to 1,760,000,000 ordinary shares.

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Analysis, Interviews, Opinions

Saving govt pensions by encouraging citizens’ savings

By thinking some soft reforms in Mena, we can bring transform the pension sector in the next 20 years, says an industry expert, listing three ways to build hundreds of billions of new retirement assets through private pension savings.

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Industry, Logistics & Shipping

Australian group Sandfire buys Mubadala JV unit for $1.85bn

Australian group Sandfire has reached an agreement with Abu Dhabi-based Mubadala and global commodities trader Trafigura for the acquisition of one its joint ventures, Matsa, a mining company based in Spain, in a deal worth €1.58 billion ($1.85 billion).

More…
Travel, Tourism & Hospitality

Perfect time to invest in Saudi tourism, says minister

The mammoth potential for hospitality investment in Saudi Arabia (KSA) was highlighted today at the AHIC Conference in Dubai by a top Saudi tourism official who said it is the perfect time to invest in the Kingdom's tourism sector.

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IT & Telecommunications

Data-as-a-service model picking up pace in UAE, Saudi

Fifty-four percent of businesses in the UAE and Saudi Arabia are looking to move to a data-as-a-service model and 55 percent are planning to look deeper into the performance stack to rearchitect how they process and use data, a report said.

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Lifestyle

The London Project plans major UAE, global expansion

The London Project, a multifaceted dining and lifestyle destination, has revealed its plans for expansion in the UAE and internationally, with outlets confirmed to open in Dubai Marina and London's Canary Wharf next year, followed by Miami and Barcelona.

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Motoring

Cars24 raises $340m in funding; doubles valuation

Cars24, one of the leading e-commerce platforms for pre-owned vehicles, has announced the closing of AED1.2 billion ($326 million) round in Series F equity funding, nearly doubling its valuation to AED6.75 billion.

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Health & Environment

Urgent call for commitment to climate action in tourism

In preparation for COP26, two information sessions were held on the Glasgow Declaration on Climate Action in Tourism. Developed by a collaborative group, it is an urgent call for all stakeholders to commit to a decade of climate action in tourism.

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Media & Promotion

Havelock One Interiors wins Saudi cineplex fit-out contracts

Havelock One Interiors, a leading turnkey fit-out contractor in the Middle East, has secured contracts from Lebanese cinema chain Empire Cinemas for work on the interiors of three multiplexes in Saudi Arabia in the cities of Riyadh, Madinah and Al Ahsa.

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Miscellaneous

Bahrain’s iGA reopens ID card centre in Muharraq

Bahrain’s Information & eGovernment Authority (iGA) said that its ID Card Service Centre located in Muharraq Seef Mall will reopen on September 26. The Centre’s working hours will be from Sunday to Thursday 7:30am to 2pm.

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