Tuesday 25 July 2017

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77pc JUMP IN H1
UAE surplus reserves surge to top $11.bn in June

Surplus reserves at UAE banks and other financial institutions surged to Dh42.8 billion ($11.6 billion) by the end of June, a growth of 77.6 per cent from Dh24.1 billion in January, according to UAE Central Bank statistics.

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1

MARINE WORKS DEAL
Van Oord wins Dubai Harbour marine works contract

Van Oord, a leading international contractor specialising in dredging, marine engineering and offshore projects, has been awarded the marine works contract for Dubai Harbour, an iconic waterfront development in the UAE.

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2

SALES UP 15pc
Alba’s H1 net income surges 111pc to $115 million

Aluminium Bahrain (Alba) has posted a net income of BD43.3 million ($115.2 million) for the first half of 2017 versus BD20.5 million ($54.5 million) for the same period in 2016, marking an increase of 111 per cent.

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3

43pc RETAILERS AFFECTED IN 2016
Data breach a growing concern for retailers - report

Two in five retailers across the globe have experienced a data breach in the past year, according to a report released today.

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4

SPOTLIGHT
ME outbound M&A value hits record $17.2bn in Q2

Cross-regional deals originating from the Middle East trebled from the first quarter (Q1) of 2017 to Q2, reaching $17.2 billion - the highest outbound M&A value since 2015, a report said.

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5

NEWS IN PICTURES
Regatta win for Team Oman Air

Team Oman Air claimed their first regatta win of the 2017 Extreme Sailing Series with a dominant display in Barcelona, Spain, narrowing the gap to the top spot on the overall leaderboard to just one point.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Mammoet opens offices in UAE, Oman

Mammoet, a leading provider of solutions for enhancing the construction efficiency and optimising the uptime of plants and installations, has opened new branch offices in Oman and the UAE as part of its regional expansion strategy.

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Retail & Wholesale
Energy, Oil & Gas

Bahrain selects Cesi to help with its solar programme

Bahrain has appointed Cesi to support its Sustainable Energy Unit (SEU) to develop the technical and regulatory requirements related to connecting distributed renewable energy resources into the national electricity grid.

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Finance & Capital Market

Dubai set to become world’s first blockchain-powered govt

Dubai is fast moving toward achieving its goal of becoming the world’s first government to execute all implementable transactions on blockchain by 2020, an international expert on blockchain has said.

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Industry, Logistics & Shipping

Alba’s H1 net income surges 111pc to $115 million

Aluminium Bahrain (Alba) has posted a net income of BD43.3 million ($115.2 million) for the first half of 2017 versus BD20.5 million ($54.5 million) for the same period in 2016, marking an increase of 111 per cent.

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IT & Telecommunications

‘Destruction of Service’ attacks set to grow: report

The impact of Destruction of Service (DeOS) attacks, which could eliminate organizations’ backups and safety nets, required to restore systems and data after an attack is predicted to grow in 2017, according to a new report.

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Motoring

New Nissan Leaf to come with e-Pedal

Nissan has announced that the widely anticipated new Nissan Leaf will come with e-Pedal, a revolutionary technology that transforms the way we drive.

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Health & Environment

DHA Medical Fitness Centres to adopt smart system

Dubai Health Authority (DHA) will be adopting an electronic system at its Medical Fitness Centres to allow customers to finish all their medical test procedures from one centre or through one of the 40 DHA-approved printing centres.

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Media & Promotion

RAK expo centre sees 4pc rise in H1 visitors

Ras Al Khaimah Exhibition Centre, a Ras Al Khaimah Chamber initiative, hosted nine different consumer and specialist exhibitions during the first half of 2017 which drew 296,374 local and international visitors.

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Miscellaneous

Alshaya signs franchise with US pizza company

MH Alshaya, a top retail franchise operator in Kuwait, has signed an agreement with US-based Blaze Fast-Fire'd Pizza, a leading fast-casual artisanal pizza chain, to build and operate multiple Blaze Pizza restaurants across Mena.

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