Friday 5 June 2020

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1.85% STAKE IN INDIAN FIRM
Mubadala to invest $1.2bn in Jio Platforms

Mubadala Investment Company, the Abu Dhabi-based sovereign investor, will invest $1.2 billion (AED4.4 billion) in Jio Platforms, India’s leading digital services platform.

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1

29 CITIES TO BE LINKED FROM JUNE
Emirates to offer transfer flights to/from Bahrain

Emirates airline will offer flights for passengers to Bahrain, in addition to 15 other cities, on its Boeing 777-300ER aircraft from June 15, following the UAE Federal Government's announcement to lift restrictions on transit passengers services.

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2

AFTER HISTORIC LOWS IN APRIL
Air travel demand showing signs of recovery: Iata

Air travel demand is beginning to recover after hitting bottom in April, during which passenger demand plunged 94.3 per cent, as Covid-19-related travel restrictions virtually shut down all air travel, said International Air Transport Association (Iata).

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3

ANALYSIS
How businesses can prepare for post-Covid world

Government and businesses must brace themselves for the (next) New Normal and turn challenges into an opportunity if they are to emerge as winners in a post-coronavirus (Covid-19) world, according to a new report.

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4

ANALYSIS
GCC insurance markets outlook turns negative: study

Economic downturn across the region stemming from lower oil prices and Covid-19 containment measures is among key factors that drive the outlook on GCC insurance markets to negative, said credit rating agency AM Best in a new report.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

New amendments likely in Kuwait's real estate law

Kuwait's parliamentary committee is set to discuss four amendments to proposals for laws related to real estate leasing include guaranteeing the right of both tenants and lessors of properties in the event of rental disputes, said a report.

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Retail & Wholesale

Global smartphone sales fall 20pc in Q1: Gartner

Global sales of smartphones to end users declined 20.2 per cent in the first quarter (Q1) of 2020, said leading research and advisory company Gartner in a new report.

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Energy, Oil & Gas

Global refiners hit hard by lockdowns, travel restrictions

Stringent travel restrictions worldwide have wiped out the market for fuel transportation and long storage durations have led to the deterioration of products such as gasoline and jet fuel, as well as increased inventory costs for refiners.

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Finance & Capital Market

Dubai Investments announces 10pc dividend

Dubai Investments, a diversified investments conglomerate that primarily operates in real estate development and contracting activities, has distributed 10 per cent cash dividends to the shareholders for the financial year ending December 31, 2019.

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Analysis, Interviews, Opinions

Five key steps for GCC states to restart economies

The Covid-19 pandemic has altered the dynamics of the global economy, and the GCC is feeling its effects. By taking appropriate steps, governments can have a significant impact on how the economy recovers, says a report.

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Industry, Logistics & Shipping
Travel, Tourism & Hospitality

Air travel demand showing signs of recovery: Iata

Air travel demand is beginning to recover after hitting bottom in April, during which passenger demand plunged 94.3 per cent, as Covid-19-related travel restrictions virtually shut down all air travel, said International Air Transport Association (Iata).

More…
IT & Telecommunications

Mubadala to invest $1.2bn in Jio Platforms

Mubadala Investment Company, the Abu Dhabi-based sovereign investor, will invest $1.2 billion (AED4.4 billion) in Jio Platforms, India’s leading digital services platform.

More…
Lifestyle

UAE e-grocery market set for solid growth by 2025

UAE's online grocery delivery market has registered a double digit growth in the last three years owing to high internet penetration and rising working population. The demand is expected to grow further with a CAGR of 34 per cent by 2025, said a report.

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Motoring

ADMM, Gfinity launch global esports racing event

Abu Dhabi Motorsport Management (ADMM) and Gfinity, a global esports and gaming solutions provider, have announced a five-year agreement to design, develop and deliver a new virtual motorsport racing championship.

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Health & Environment

Aster and LSV launch global incubator

Aster DM Healthcare and Life Science Vision Capital (LSV) alongside Social Alpha (Foundation for Innovation and Social Entrepreneurship) have established India's first industry-led global incubator and accelerator "XHealth Innovation Labs".

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Media & Promotion

Roxy Cinemas reopens its doors

Roxy Cinemas has re-opened its doors at three of its prime locations in Dubai - City Walk, The Beach and Box Park and has announced a special offer for the month of June.

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Education, HR & Training

Dubai Customs launches e-learning platform

Dubai Customs, in cooperation with the United Nations Office on Drugs and Crime (UNODC), has launched an e-learning platform providing 50 specialized training courses in customs field to employees.

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Miscellaneous

Ras Al Khaimah sets rules for restaurants and gyms

Ras Al Khaimah Department of Economic Development has issued circulars today outlining a series of requirements and procedures for reopening restaurants, cafés and gyms in the emirate, each of which will be allowed to resume operations as of June 3.

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