Thursday 23 November 2017

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VAT, SAUDI REFORMS WEIGH
GCC’s GDP to accelerate to 2.8pc next year: ICAEW

The GDP of the GCC is expected to grow from just 0.3 per cent in 2017 to 2.8 per cent next year, while the same in the wider Middle East will accelerate from 1.4 per cent in 2017 to 3.2 per cent next year, ICAEW said in a new report.

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1

14 MAJOR SUBSTATIONS
GE secures $400m Iraq power project contract

GE Power said it has been awarded a contract worth over $400 million to develop 14 electric substations in Iraq on a turnkey basis and also supply critical equipment such as transformers and circuit breakers for the project.

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2

SOLVENCY ‘ROBUST’
UAE banks post profits of $7.8bn in nine months

Banks operating in the UAE posted profits of Dh28.8 billion ($7.8 billion) during the first nine months of 2017, a growth of 8 per cent over the corresponding period last year, said the Governor of the UAE Central Bank.

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3

ANALYSIS
Low-salt DASH diet effective against high BP: study

Combining a low-salt diet with the heart-healthy DASH (Dietary Approaches to Stop Hypertension) diet substantially lowers systolic blood pressure, according to new research by Johns Hopkins University School of Medicine.

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4

ANALYSIS
Tech firms now banking sector’s biggest disruptors

Until recently, traditional retail banks were betting on nimble fintechs to up-end the industry. However, established technology firms such as Amazon, Apple and Tencent have emerged as the bigger, more immediate threat to retail banking.

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5

NEWS IN PICTURES
Gulf Air marks 50 years of Bahrain-Paris route

Marking the 50th anniversary of its Bahrain-Paris route, Gulf Air, the national carrier of Bahrain, recently flew a number of GCC media representatives to Paris on a familiarization trip jointly hosted by Shangri-La Hotel, Paris.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Cairo developer plans new 300-room Movenpick hotel

Swiss hospitality group Mövenpick has joined hands with Egypt-based real estate firm Arabia Investment & Tourist Development to set up a 300-key hotel on the country’s North Coast – a popular leisure destination.

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Retail & Wholesale

Majid Al Futtaim launches mega sale in Dubai malls

Majid Al Futtaim, a leading shopping mall and leisure pioneer, has announced its participation in the country wide three-day super sale from November 23 to 25, in partnership with Dubai Festival Retail Establishment (DFRE).

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Energy, Oil & Gas

KBR JV awarded Feed contract for Absheron field in Azerbaijan

KBR has announced that the Socar-KBR Limited Liability Company (SKLLC) joint venture has been awarded a Front-End Engineering Design (Feed) contract for the topsides of the Absheron Early Production Project.

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Finance & Capital Market

GCC’s GDP to accelerate to 2.8pc next year: ICAEW

The GDP of the GCC is expected to grow from just 0.3 per cent in 2017 to 2.8 per cent next year, while the same in the wider Middle East will accelerate from 1.4 per cent in 2017 to 3.2 per cent next year, ICAEW said in a new report.

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Analysis, Interviews, Opinions

Low-salt DASH diet effective against high BP: study

Combining a low-salt diet with the heart-healthy DASH (Dietary Approaches to Stop Hypertension) diet substantially lowers systolic blood pressure, according to new research by Johns Hopkins University School of Medicine.

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Industry, Logistics & Shipping

GE joins Saudi digital industrial innovation drive

Saudi Arabia’s National Digitization Unit (NDU) has signed an agreement with technology major GE to help drive digital transformation across critical industries, including healthcare, water and mining in the kingdom.

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IT & Telecommunications

Fidor opens MEA regional office in Dubai

Fidor, a leader in digital banking solutions that helps banks launch and run their own digital brands, has opened its new regional headquarters in Dubai Silicon Oasis, the integrated free zone technology park.

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Motoring

GAC Motor debuts high-end MPV at China show

Chinese automaker GAC Motor has lined up the most deluxe new releases including the brand's first MPV GM8, smart electric concept car iSPACE and self-driving GE3 at the 2017 Guangzhou International Automobile Exhibition.

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Health & Environment

Bahrain dialysis centre 63pc work completed

Bahraini authorities said work was progressing as per schedule on a new dialysis centre coming up in the Hunainiya region of the kingdom with nearly 63 per cent of the project ready. It will be completed by the middle of June next year.

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Media & Promotion

Emaar ranked UAE’s most recommended brand

Home-grown property developer Emaar has emerged as the most recommended brand among consumers in the UAE, according to the latest brand rankings from YouGov BrandIndex.

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Education, HR & Training

Importance of Knowledge Index highlighted

A high-profile panel at the fourth annual Knowledge Summit in Dubai highlighted the importance of data gathering and the inaugural Global Knowledge Index released recently.

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Miscellaneous

Cornish Kern from UK is world cheese champion

Cornish Kern, an alpine-style cheese made by the UK’s Lynher Dairies Cheese Company, has been crowned World Champion Cheese at the 30th annual World Cheese Awards, after just a few years in development.

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