Monday 24 June 2024

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DAILY PRODUCTION HITS 197,900 T
Global primary aluminium output in May soars to over 6m tonnes

The world's primary aluminium production in May experienced a month-on-month increase of 3.86% to repossess the 6 million tonnes level. This monthly growth followed a decline in April by 3% from 6.1 million to 5.9 million tonnes, according to a report.

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1

$30bn INFLOW IN 2023
UAE ranks second after US in greenfield FDI projects

The UAE took the second place after the United States in greenfield FDI project announcements in 2023 at 1,323, an increase of 33% compared with 2022, according to the World Investment Report 2024, published on Thursday by the UN Trade and Development.

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2

KUWAIT TOP INVESTOR
Bahrain attracts record $6.8bn FDI inflows in 2023

Bahrain has secured a record $6.8 billion foreign direct investment (FDI) inflows in 2023, according to the latest World Investment Report (WIR 2024) by the United Nations Conference of Trade and Development (UNCTAD).

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3

SPOTLIGHT
Turning offices into attractive workspaces

By focusing on technology, design, and culture, IT managers can transform offices into vibrant, productive hubs that draw employees in and foster a thriving work environment.

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4

INSIGHT
Why land degradation needs urgent global action

Land degradation requires immediate and concerted action from stakeholders across the world, a leading environmentalist has said, in light of the World Environment Day marked on June 5 – a major outreach programme of the United Nations.

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Top Trade News

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Industry Sectors

Construction & Real Estate

$653m Sharjah airport expansion on track for 2027 completion

Work is moving at a steady pace on Sharjah Airport Passenger Terminal Expansion Project being implemented at an investment of AED2.4 billion ($653 million). Once completed, it will boost the airport's capacity to 25 million passengers per annum in 2027.

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Retail & Wholesale
Energy, Oil & Gas

India's Haldia Petchem seals naphtha supply deal with QatarEnergy

India-based Haldia Petrochemicals has announced that it has signed a strategic agreement with QatarEnergy under which the GCC group will supply two million tonnes of naphtha through its Singaporean unit HPL Global over the next ten years.

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Finance & Capital Market

New IPOs add $5.8bn to UAE's stock market capitalisation

The UAE bourses have attracted a market capitalisation of AED21.3 billion ($5.8 billion), due to launch of three new IPOs since the start of 2024, in line with its plans to double its market value to AED6 trillion ($1.6 trillion) over the coming years.

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Analysis, Interviews, Opinions
Industry, Logistics & Shipping

Swiss food group NUOS to set up production plant in Abu Dhabi

Major Swiss alternative protein innovation specialist NUOS has entered into a deal with Agwa, the newly-launched food and water cluster in Abu Dhabi, for setting up the world's leading alternative production facility with a 1 million tonne capacity.

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Travel, Tourism & Hospitality

Mega Qatari waterpark launches new family roller coaster ride

Qatar's biggest waterpark Meryal, spanning 24,281 sq m in capital Doha, has announced the launch of its Alghazal Roller Coaster ride for families. Featuring 4-person sit-down spinning cars, it offers a unique blend of tradition and modern entertainment.

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Lifestyle

Bayanat, Imkan team up for smart mobility infrastructure at SHA Island

Bayanat, a key provider of AI-powered geospatial and smart mobility solutions, has joined hands with Abu Dhabi-based Imkan Properties for the development of a smart mobility infrastructure project on SHA Island Emirates at AlJurf within the UAE capital.

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Motoring

UD Trucks launches drive to boost Egypt, Kenya sales

UD Trucks, a leading Japanese commercial vehicle solutions provider, kicked off its Brand Day events in Egypt and Kenya, fresh off a record-breaking 2023 in Middle East, East and North Africa (Meena) driven by solid sales growth across all segments.

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Health & Environment

Astha Biotech to set up microalgae plant at Kezad Al Ain

Astha Biotech, a leading UAE-based infrastructure company with focus on green economy, has signed a lease agreement with Khalifa Economic Zones Abu Dhabi for setting up an microalgae plant on a 38,000sqm area within the Kezad development in Al Ain city.

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Media & Promotion

G-7 agrees to launch action plan over AI impact on labour

The heads of the Group of Seven (G7) major powers said in a joint statement Friday that they will launch a global action plan to deal with the positive and negative impacts of artificial intelligence (AI) on employment, said a report.

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Education, HR & Training
Miscellaneous

Global food import bill in 2024 set to hit over $2 trillion: FAO

The global food import bill this year is likely to surge by 2.5% to hit over $2 trillion driven by favourable macroeconomic conditions including steady economic growth, and lower food commodity prices, according to UN's Food and Agriculture Organization.

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