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BULLET TRAINS AT 1,000kmph
UAE mulls Fujairah-Mumbai subsea tunnel project
The UAE’s National Advisor Bureau has announced its latest futuristic project which aims to connect the UAE and other GCC states for the first time with Mumbai, India, via a subsea tunnel and an ultra high speed 1,000 km/hour subsea railway line.
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NEW FIRM ACQUIRES DUBAI GROUP
Senaat, Spanish group in deal to set up tubular products JV
Leading UAE industrial investment company Senaat said it has reached an agreement with Spanish group Tubacex to set up a new joint venture that will manufacture stainless steel and high-alloyed tubular products (tubes and accessories).
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$421m DEAL
DP World acquires P&O Ferries
DP World, a leading enabler of global trade, today announced the acquisition of the holding company of P&O Ferries and P&O Ferrymasters (together P&O Ferries) for £322 million ($421 million).
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FOCUS
Five myths of artificial intelligence: Gartner
IT and business leaders are often confused about what artificial intelligence (AI) can do for their organizations and must separate reality from myths to devise their future strategies, said global research advisory company Gartner.
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SPECIAL REPORT
Dubai's property prices set for further decline in 2019
After peaking in second half of 2014, Dubai residential property prices have been declining over the past few years and are approaching levels last seen at the nadir of the 2009-2010 property crash, according to global ratings agency S&P.
Top Trade News
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UAE mulls Fujairah-Mumbai subsea tunnel project
The UAE’s National Advisor Bureau has announced its latest futuristic project which aims to connect the UAE and other GCC states for the first time with Mumbai, India, via a subsea tunnel and an ultra high speed 1,000 km/hour subsea railway line.
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Majid Al Futtaim digitizes Carrefour with SAP
Dubai-based Majid Al Futtaim, a leading retail chain in the Middle East, is digitally transforming its Carrefour brand with global technology company SAP.
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Kuwait Petroleum to lead global new-build regasification
Kuwait Petroleum Corp is expected to lead the global oil and gas companies with the highest new-build LNG regasification capacity additions of 1.2 trillion cubic feet (tcf) by 2023, said GlobalData, a leading data and analytics company.
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26 IPOs raise over $2.9bn during 2018 in Mena
In 2018, the Mena region raised $2.946.2 billion through 26 IPOs (initial public offerings), said the latest Mena IPO Eye report from EY, a global leader in assurance, tax, transaction and advisory services.
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AI creates new skills gap in cybersecurity: study
While artificial intelligence (AI) will fill many of the jobs currently left unfilled in the cybersecurity segment, its deployment may create new areas of skills shortage, says an industry expert.
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Lukoil Marine Lubricants signs contract with Oman Shipping
UAE-based Lukoil Marine Lubricants Middle East, a subsidiary of Russia’s Lukoil Oil Company, has signed a guaranteed three-year contract with Oman Shipping Company (OSC).
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Shaza Hotels opens new property in Riyadh
Shaza Hotels, a member of the Global Hotel Alliance, has announced the opening of Shaza Hotel Residences, Riyadh.
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Etisalat 2018 net profit surges 2.4pc to $2.34bn
UAE telecom company Etisalat said its consolidated net profit for 2018 surged 2.4 per cent to hit Dh8.6 billion ($2.34 billion) over the previous year, due to its sustained focus on core business besides accelerating its digital portfolio.
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ArtBAB to showcase VR museum
Breaking boundaries in the Middle East, ArtBAB 2019 (Art Bahrain Across Borders) will push technology to the next level, offering visitors a multi-dimensional experience through its Virtual Reality Corner, the first of its kind in the region.
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Over 80 exhibitors for Automechanika Jeddah
More than 80 exhibitors from 15 countries are set to take part in Automechanika Jeddah 2019, Saudi Arabia’s dedicated trade fair for the automotive aftermarket next week in Jeddah.
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Bee’ah launches waste permit portal in Sharjah
Bee’ah, a sustainability pioneer in the Middle East, has joined forces with the Hamriyah Free Zone Authority (HFZA), to launch the first phase of a state-of-the-art Waste Permit Portal, the first of its kind in Sharjah, a media report said.
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New Pierce Brosnan film to be shot in Abu Dhabi
Pierce Brosnan's upcoming gold heist thriller The Misfits will begin shooting later this month at Abu Dhabi's Jumeirah at Etihad Towers.
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Aldar, UAE University to develop future leaders
Aldar Properties, a leading Abu Dhabi developer, said it has signed a partnership agreement with United Arab Emirates University to work together to develop future leaders. As a first step, the duo will host a design competition for students.
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Saudi Crown Prince on landmark India visit
Saudi Crown Prince, Deputy PM and Defence Minister Mohammad bin Salman bin Abdulaziz Al Saud begins his landmark visit to India. He is being accompanied by a high-level delegation of ministers and top Saudi businessmen during the two-day tour.
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