Sunday 26 March 2017

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500,000 sq ft FACILITY
Dulsco breaks ground on hitech recycling plant in Dubai

Dulsco, a leading environment solutions provider in the UAE, has broken ground on its new 500,000-sq-ft recycling facility being developed at an estimated cost of Dh25 million ($7 million) within the Dubai Industrial Park premises.

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$800m OFFER LIKELY
Emaar Malls bids for Souq.com to challenge Amazon

Emaar Malls, the shopping-centre arm of leading property developer Emaar, has made a bid for Dubai online retailer Souq.com, seeking to challenge an existing offer from online retail giant Amazon, according to a report.

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$100bn OFFERING
Saudi Aramco signs up Samba as IPO advisor

Oil giant Saudi Aramco has selected Samba Capital as one of two banks to work as an adviser on its planned share sale in Riyadh, said a report, citing banking sources.

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ANALYSIS
GCC on track for major economic recovery in 2017

While regional economies have been impacted by global reduction in oil prices, a recovery is expected from 2017 onwards, driven by a growth in oil prices as well as due to an increasing focus on economic diversification, a report said.

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SPOTLIGHT
Extreme, unusual climate trends continue in 2017

Extreme weather and climate conditions have continued into 2017, while 2016 made history with a record global temperature, exceptionally low sea ice, and unabated sea level rise, according to the World Meteorological Organization (WMO).

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5

NEWS IN PICTURES
Diversity on the runway

A model with disabilities from the Open World Foundation presents creation by Russian designer Elena Malchikova during the Moscow Fashion Week Fall/Winter 2017, in Moscow, Russia on March 23. The event runs from March 21 to 26.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Indians top Dubai real estate with $3.3bn investment

Indians remain the most prolific foreign investors in Dubai's real estate sector, ranking highest both in terms of volume and value with Dh12 billion ($3.26 billion) worth of property transactions from 6,263 buyers, said a report.

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Retail & Wholesale

Casio launches new Edifice watch

Casio Middle East FZE, the regional arm of Casio Computer Company, has revealed the Saudi Arabia launch of the Edifice ERA-600, the latest addition to the Edifice brand of luxury watches for men.

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Energy, Oil & Gas

Al Duqm wins $163m Oman chemical project contract

Oman-based Al Duqm Global Construction said it has won the main contract for the construction of the sultanate's first sebacic acid plant being developed at a cost of RO63 million ($163 million) in Duqm region.

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Finance & Capital Market

Saudi Aramco signs up Samba as IPO advisor

Oil giant Saudi Aramco has selected Samba Capital as one of two banks to work as an adviser on its planned share sale in Riyadh, said a report, citing banking sources.

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Analysis, Interviews, Opinions

GCC on track for major economic recovery in 2017

While regional economies have been impacted by global reduction in oil prices, a recovery is expected from 2017 onwards, driven by a growth in oil prices as well as due to an increasing focus on economic diversification, a report said.

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Industry, Logistics & Shipping

GCC total industrial investment hits $395bn

The total investment in the GCC's industrial sector is estimated at $394.9 billion, with 17,596 factories employing approximately 1.66 million workers, according to a senior official at Gulf Organization for Industrial Consulting (GOIC).

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Travel, Tourism & Hospitality

Shaikha Mai named sustainable tourism ambassador

The president of Bahrain Authority for Culture and Antiquities and chairperson of the board of Arab Regional Centre for World Heritage Shaika Mai Bint Mohammed Al Khalifa, has been appointed as special UN ambassador for sustainable tourism.

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IT & Telecommunications

Kaspersky offers critical infrastructure protection

Kaspersky Lab has announced the global availability of its Industrial CyberSecurity for Energy, a vertical advanced package for energy enterprises, based on Kaspersky Lab’s suite for protection of industrial infrastructure.

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Lifestyle

FLC launches ME's first talent-booking app

Dubai-based marketing services agency FLC Group said one of its units has launched the first model and talent booking app in the Midde East and North Africa (Mena) region.

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Motoring

Corum, Zetta Jet ink MIA partnership deal

Leading Swiss watch company Corum and American aviation group Zetta Jet Jet have signed up as sponsors for Montreal-based Motorsports In Action (MIA) ahead of The Continental Endurance Sports Car Challenge.

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Health & Environment

UAE joins world to mark 1oth Earth Hour

The UAE joined the rest of the world for the 10th annual Earth Hour by turning off lights at all landmarks and other famous sites on Saturday as part of a global effort to back action on climate change.

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Media & Promotion

Euronews names new Europe, MEA sales head

Euronews, a leading international news channel, has reinforced its sales department in the Europe, Middle East and Africa (EMEA) region with the appointment of Myriam Vergne in the newly-created position of VP sales.

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Education, HR & Training

Dubai Holding launches new youth council

Dubai Holding, a global investment holding company, has launched its dedicated youth council, which will help empower young people across the organisation while seeking to capture their unique talents and voices.

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Miscellaneous

DP World delivers 4.5m litres of water to Somaliland

Dubai-based marine terminal operator DP World said it has begun delivering over 4.5 million litres of water to people living in the drought-hit villages of Somaliland. It is being distributed in 410 tankers, carrying 11,000 litres each.

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