Tuesday 25 June 2019

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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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3

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.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

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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Retail & Wholesale
Energy, Oil & Gas

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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Finance & Capital Market

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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Analysis, Interviews, Opinions

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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Industry, Logistics & Shipping

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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IT & Telecommunications

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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Lifestyle

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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Health & Environment

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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Media & Promotion

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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Education, HR & Training

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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Miscellaneous

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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