Saturday 29 February 2020

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RECESSION ON WAY?
Global investors dump shares on virus fears

Investors across the world dumped equities in expectation of a global recession as the world prepared for a coronavirus pandemic.

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GLOBAL PROTOCOLS FOLLOWED
All 33 Coronavirus patients recovering in Bahrain

The 33 Coronavirus (COVID-19) cases currently being treated in Bahrain are showing positive signs of recovery, Dr Safa Al-Khawaja, infectious diseases consultant and head of infection control at the Ministry of Health.

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2

UAE RAILWAY FLEET BOOST
Caterpillar unit wins Etihad Rail project supply contract

Progress Rail Locomotive, a unit of leading construction equipment manufacturer Caterpillar, has won a major contract from Etihad Rail, the developer and operator of the UAE’s national railway, for the supply of locomotives.

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3

FOCUS
GCC residents see Coronavirus as major threat: YouGov

The majority (89 per cent) of residents in the UAE, Saudi Arabia and Kuwait are familiar with Coronavirus, and six in ten (59 per cent) consider it to be a major threat to public health in their country, said market research firm YouGov.

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4

SPECIAL REPORT
Energy storage market to top $545bn by 2035: Lux

The total energy storage market is expected to grow to $546 billion in annual revenue by 2035, said Lux Research, a global research and advisory firm, in a new report, noting that mobility applications remain the long-term demand driver.

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5

NEWS IN PICTURES
New arrival

A family of water buffalo greenkeepers, famous for tending to the rice paddies on one of Vietnam’s top-rated golf courses, has welcomed a new member to the workforce: new-born baby Luna.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Oman unveils Muscat Airport City masterplan

Oman has unveiled the masterplan for its ambitious Muscat Airport City project that will boast a 200,000-sq-m air freight services and logistics zone besides a hospitality and a mixed-use development spread over a 1.1-million-sq-m area, said a report.

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Retail & Wholesale

Namshi partners with Emirates Skywards

Namshi, the #1 fashion destination in the Mena region, has partnered with Emirates Skywards, the award-winning loyalty programme of Emirates and flydubai, enabling Namshi customers to earn Skywards Miles with each purchase.

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Energy, Oil & Gas

Brooge to expand storage capacity in Fujairah

Brooge Petroleum and Gas Investment Company (BPGIC) has signed a land lease agreement for the oil storage and services business to expand storage capacity and refinery operations in Fujairah Oil Industry Zone (FOIZ).

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Finance & Capital Market

UAE banks’ profitability to be resilient

Profitability at the four largest UAE banks is set to remain resilient in 2020, as solid public-sector loan growth balances the effects of competition and subdued private-sector credit demand, Moody's Investors Service said in a report.

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Analysis, Interviews, Opinions

GCC residents see Coronavirus as major threat: YouGov

The majority (89 per cent) of residents in the UAE, Saudi Arabia and Kuwait are familiar with Coronavirus, and six in ten (59 per cent) consider it to be a major threat to public health in their country, said market research firm YouGov.

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Industry, Logistics & Shipping

Sabic reaffirms commitment to sustainability

The Saudi Basic Industries Corporation (Sabic) has reaffirmed its commitment to sustainability by promoting adequate resource use, circular economy, food security, innovation and environmental protection, in line with the UN sustainable development goals.

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Travel, Tourism & Hospitality

Saudi-Kuwait traveller numbers up 13pc

Saudi Arabia recorded a 13 per cent increase in the number of departing and arriving passengers between the kingdom and Kuwait during 2019, compared to 2018.

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IT & Telecommunications

IEC Telecom to introduce new satcom solutions at DIHAD

Satellite communications specialist IEC Telecom will introduce OneGate Aid, an integral communications solution for humanitarian missions, at the Dubai International Humanitarian Aid and Development Conference and Exhibition 2020 (DIHAD) next month.

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Lifestyle

Dubai Culture announces seventh edition of Arts Season

Dubai Culture has announced the opening of the seventh edition of Dubai Art Season, the annual flagship art initiative hosted under the patronage of Her Highness Sheikha Latifa Bint Mohammed Bin Rashid Al Maktoum, chairperson of Dubai Culture.

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Motoring

Isuzu trucks drive Mohammed Al-Ojaimi group’s expansion plans

Motorcity, the exclusive distributor of Isuzu vehicles in Bahrain has delivered a fleet of Isuzu trucks to the Mohammed Al-Ojaimi Group, a leading Saudi-based company serving different industries within Bahrain and Saudi Arabia.

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Health & Environment

7 new Coronavirus cases reported in Bahrain

Bahrain's Ministry of Health has announced that it has registered seven new confirmed cases of the Coronavirus (COVID-19) in the kingdom, taking the total confirmed cases to 33.

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Media & Promotion

FAKE NEWS ALERT FROM TRADEARABIA

There have been reports of some unscrupulous elements publishing morphed news reports on social media, purporting to show that it is from TradeArabia or TradeArabia News Service.

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Education, HR & Training

School design needs major overhaul, says expert

School design must keep up with changing times, said a design expert speaking at the Global Educational Supplies & Solutions (GESS) exhibition, a major event featuring edtech firms and concluding today (February 27) in Dubai, UAE.

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Miscellaneous

Jameel Arts announces a dynamic programme of exhibitions

Jameel Arts Centre, Dubai’s contemporary art institution, has announced its diverse Spring 2020 programme, headlined by a major, two-floor exhibition, ‘Michael Rakowitz’ -- a comprehensive self-titled survey of work by the Iraqi-American artist.

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