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NOMINAL GDP SURGES 7pc TO 43bn
Bahrain achieves top Global Connectedness Index ranking
Bahrain has achieved top rankings in Global Connectedness Index 2024, published by DHL, climbing seven ranks to 25th position globally. The kingdom now stands first globally in Inward Merger & Acquisitions percentage of GDP, representing 19% of its GDP.
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TWO NEW PROPERTIES IN UAE
Rotana unveils big Mideast plans, eyes 4,400 keys in KSA by 2028
Rotana unveiled its ambitious expansion strategy for Middle East with plans to launch nine new properties in Saudi Arabia over the next four years, doubling its key count in the country to 4,400. In the UAE, it will open two new properties this year.
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MARITIME SECTOR BOOST
ASRY snaps up Kuwait Oil Tanker tender for 6 giant oil tankers
The Arab Shipbuilding and Repair Yard Company (ASRY), a maritime repair facility based in Bahrain, said it had won a regional tender launched by the Kuwait Oil Tanker Company (KOTC) to carry out docking and maintenance work for six giant oil tankers.
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INSIGHT
Firms overlook ‘huge blind spots in their AI overconfidence’
Despite firm belief in AI plans, businesses’ fragmented AI strategies and execution that overlook end-to-end lifecycles will not deliver successful outcomes, says a research report assigned by Hewlett Packard Enterprise.
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INSIGHT
80% next-gen Philanthropists prefer to give 'on a personal level'
About 80% of next-generation philanthropists are moving away from their family foundations and businesses with over 45% employing non-traditional giving methods such as impact investing, microlending, and donor-advised funds, says a study.
Top Trade News
 | Industry Sectors |
Wynn sees RAK luxury resort topping off in Q4 2025
US developer Wynn Resorts has announced that work is moving at a steady pace on its luxury resort, Wynn Al Marjan Island, coming up in Ras Al Khaimah, with its topping off expected in Q4 2025. The resort will open to the public in early 2027.
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Wellbeings opens outlet at Marriott Marquis Jewel of The Creek
Wellbeings, the epitome of luxury wellness experiences, has opened its latest outlet – a captivating new space nestled within the Marriott Marquis Jewel of The Creek.
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Sharjah announces discovery of new gas reserves
The Sharjah Petroleum Council (SPC) has announced the discovery of new gas reserves in Al Hadiba field, located north of the Al Sajaa Industrial Area, in promising economically viable quantities.
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NEOM secures $2.67bn new revolving credit facility
NEOM, a new urban area being built by Saudi Arabia, announced on Sunday that it has secured a new revolving credit facility (RCF) worth SAR10 billion ($2.67 billion).
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Firms overlook ‘huge blind spots in their AI overconfidence’
Despite firm belief in AI plans, businesses’ fragmented AI strategies and execution that overlook end-to-end lifecycles will not deliver successful outcomes, says a research report assigned by Hewlett Packard Enterprise.
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World Bank revises Kuwait’s 2024 real GDP upwards to 2.8pc
Kuwait’s economic growth (real GDP) projection for 2024 was revised by the World Bank to 2.8% year-on-year, higher than the 2.6% y-o-y forecasted earlier in January 2024 owing to expectations of phasing out of Opec+ production cuts, according to Markaz.
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Sayacorp opens first Conrad hotels property in Bahrain
Bahrain-based hospitality group Sayacorp has announced the opening of the first Conrad hotel property in the kingdom. The 98-key Conrad Bahrain Financial Harbour features one- to three-bedroom suites as well as other key premium amenities.
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AUS, Nokia team up to advance engineering education
American University of Sharjah (AUS) has announced that Nokia has joined the College of Engineering (CEN) Al Nukhba programme following the recent signing of a Memorandum of Agreement.
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Mered signs up HBA to design ultra-luxury property in Dubai
Mered, an international real estate developer with headquarters in the UAE, has partnered with top hospitality design firm Hirsch Bedner Associates (HBA) for the development of its ultra-luxury development, Iconic Tower, in Dubai.
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Saudi Arabia emerges biggest car market in GCC
The Saudi Arabian car market has emerged as a powerhouse, accounting for more than half of all car sales in the Gulf region. With over 160,000 imports, the kingdom has emerged as one of the top 20 car markets globally, said a report.
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Cleveland Clinic uses ultrasound technology to treat liver tumor
Global health system Cleveland Clinic has started using a recently FDA-approved ultrasound device to treat liver tumors, the hospital has said.
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Aramco becomes FIFA's Major Worldwide Partner
Aramco, one of the world’s leading integrated energy and chemicals companies, has signed a four-year global partnership with FIFA (Federation Internationale de Football Association), the international governing body of football.
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AI is revolutionising global education: WEF report
A new World Economic Forum report explores how artificial intelligence could revolutionise education systems and improve the experiences of educators and students alike.
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Gates Foundation to set up regional HQ in Misk City, Riyadh
The Bill & Melinda Gates Foundation, a private non-profit foundation launched by Bill Gates and Melinda French Gates, will establish its first regional headquarters within Mohammed Bin Salman Nonprofit City (Misk City) in Riyadh.
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