Tuesday 13 April 2021

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INDIA AMONG TOP INVESTORS
Bahrain's FDI volume for 2020 surges 3.3pc to $31.3bn

Bahrain has recorded foreign direct investments (FDI) worth BD11.9 billion ($31.3 billion) for 2020, thus registering an increase of 3.3 per cent over the previous year, said the kingdom’s Information & eGovernment Authority (iGA) in a new report.

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1

FINANCIAL DEAL INKED WITH NESMA
Masdar consortium to start work on 300MW Saudi project

Abu Dhabi-based Masdar said its consortium with global renewable energy leader EDF Renewables, will start construction work on a 300-megawatt utility-scale photovoltaic (PV) solar power plant in Jeddah following its financial close with Nesma Company.

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2

ASSETS OPTIMISATION PROGRAMME
Aramco signs $12.4bn EIG infrastructure investment deal

Saudi Aramco has signed a $12.4 billion agreement with a consortium led by top energy infrastructure investor EIG Global Energy Partners to optimise its assets through a lease-and-lease-back deal involving its stabilised crude oil pipeline network.

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Top Trade News

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Industry Sectors

Construction & Real Estate

TRSDC awards Coastal Village infrastructure development contract

The Red Sea Development Company (TRSDC), the Saudi developer behind the world’s most ambitious regenerative tourism project, has awarded the infrastructure contract for its Coastal Village project to local firm Contracting and Construction Enterprises.

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Retail & Wholesale

Kamal Osman JamJoom group acquires Body Shop Stores

Kamal Osman Jamjoom Group LLC (KOJ), announced that it has acquired The Body Shop Stores (UAE), the exclusive distributors of The Body Shop and operators of The Body Shop retail stores within the UAE.

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Energy, Oil & Gas

Penspen wins construction contract for 51 Adnoc onshore wells

Penspen, a leading energy services company, has secured a four-year procurement and construction services contract from Galfar Engineering for flowlines and wellhead installations of 51 wells within Adnoc Onshore’s oilfields at Abu Dhabi.

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Finance & Capital Market

Bahrain's FDI volume for 2020 surges 3.3pc to $31.3bn

Bahrain has recorded foreign direct investments (FDI) worth BD11.9 billion ($31.3 billion) for 2020, thus registering an increase of 3.3 per cent over the previous year, said the kingdom’s Information & eGovernment Authority (iGA) in a new report.

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Analysis, Interviews, Opinions

80% of businesses expect to work remotely: Study

A vast majority of businesses (83 percent) expect to work remote at least half the time, whereas 60 percent of employees not only agree but are happy to do so, according to Lenovo’s new Future of Work and Digital Transformation study.

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Industry, Logistics & Shipping

Alba achieves 10m safe working-hours without LTI

Aluminium Bahrain (Alba), the largest smelter in the world ex-China with a production capacity of 1.548 MTPA, is on course to evolve as the safest global smelter after achieving 10 million safe working-hours without Lost Time Injuries (LTI).

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Travel, Tourism & Hospitality

British Airways names MEA, South Asia sales head

British Airways has appointed Moran Birger as the new head of sales for the South Asia, Middle East and Africa. In his new role, Birger will be based in the BA headquarters in London and will be responsible for all commercial activity for the region.

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IT & Telecommunications

Saudi ICT Infrastructure group Tawal wins key ISO certification

Leading Saudi ICT Infrastructure company Tawal said it has secured the ISO 22301:2019 Business Continuity Management System (BCMS) in recognition of its commitment to global BCMS standards with regard to risk management, disaster recovery and opertions.

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Lifestyle

Land Rover Defender 90 and Jaguar E-Pace arrive at Euro Motors

Euro Motors, the exclusive importer and distributor for Jaguar Land Rover received the first shipment of the iconic Land Rover Defender 90 and the premium SUV Jaguar E-Pace.

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Motoring

Saudi Arabia lays the foundation stone for Jeddah F1 track

Saudi Arabia has announced the laying of foundation stone for the Jeddah Formula One Circuit. The 6,175-m-long track will host the penultimate race on the Formula One season calendar - the Saudi Arabian Grand Prix in December this year, said a report.

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Health & Environment
Media & Promotion

Ramadan begins tomorrow in Gulf region

Saudi Arabia and other Gulf states have announced that the first day of the holy fasting month of Ramadan begins tomorrow (April 13) following the sighting of the new moon, said media reports.

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Education, HR & Training

WTO calls applications for young professionals programme

The WTO is welcoming applications for its 2022 Young Professionals Programme (YPP), which allows qualified young professionals from developing countries to enhance their knowledge regarding WTO and international trade issues.

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Miscellaneous

Agthia unveils strategy to become F&B leader by 2025

Abu Dhabi’s Agthia Group has unveiled its long-term strategy focusing on expansion and growth into value-add categories, through disciplined M&As and driving improved financial performance to become an F&B leader in the region by 2025.

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