Wednesday 27 October 2021

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NUKE, SOLAR POWER TAPPED
Adnoc and Ewec enter clean energy partnership

Adnoc and Emirates Water and Electricity Company (Ewec) have launched a partnership, the largest of its kind in the oil and gas industry, which will see 100% of Adnoc’s grid power supplied by Ewec’s nuclear and solar clean energy sources.

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1

KEY DEALS INKED WITH TOP FIRMS
Aramco eyes big investments in green hydrogen projects

Saudi oil giant Aramco plans to expand its focus on emerging sectors to drive private sector innovation and investment. During the Future Investment Initiative, it outlined potential new projects in green hydrogen and sustainable technology solutions.

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2

HIGH-SPEED SATELLITE LINK
Neom JV seals $200m satellite network deal with OneWeb

Saudi Arabia's futuristic $500-billion city Neom said one of its subsidiaries has signed a JV agreement with OneWeb, the global communications network powered from space, to bring high-speed satellite connectivity to Neom and the wider Mideast countries.

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3

ANALYSIS
Transport disruptors ready with new innovative 15-minute city, all electric Hyperloop plan

Global transport disruptors will be in Dubai next month for an event at Expo 2020 where they will share their vision on how people will travel and move goods in future with innovative concepts like Fifteen-Minute City and All-electric Hyperloop.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Dar Al Arkan to develop $985m residential project in Saudi Arabia

Leading Saudi real estate group Dar Al Arkan has joined hands with Madinat Al Wouroud Housing Development Company to set up a premium residential project in Taif governorate in the kingdom at an investment of SR3.7 billion ($985 million).

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Retail & Wholesale

Alhokair buys major stake in UK online store VogaCloset

Fawaz Abdulaziz Alhokair Co, a leading franchise retailer in Saudi Arabia, has announced that it has acquired a major stake in VogaCloset, a UK-based online store tailored directly to the Middle East and North Africa, for SR69 million ($18.3 million).

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Energy, Oil & Gas

World Future Energy Summit to show clean energy innovations

The World Future Energy Summit will host innovations from around the world, as well as international technology pavilions from Germany, Switzerland, Italy, Netherlands, France, Austria, Nigeria, India, Japan, Korea and China.

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Finance & Capital Market

Bitcoin Fund gets DFSA nod for ATM program listing

The Bitcoin Fund, the Middle East’s first listed digital asset-based fund has received approval from the Dubai Financial Services Authority (DFSA) for its At-the-Market program on Nasdaq Dubai.

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Analysis, Interviews, Opinions

ME only region with improved confidence in Q2, Q3: GECS

The Middle East emerged as the only region to record improved confidence across six straight months spanning the second and third quarters (Q2 and Q3) of 2021, said the latest Global Economic Conditions Survey (GECS).

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Industry, Logistics & Shipping

Nadec swings to Q3 net profit; regional sales up 1.7pc

Nadec, a leading Saudi agricultural food-processing company, has posted solid results for Q3 mainly due to its sales growth. Its net profit for the three-month period hit SR3.2 million (854,806) compared to a net loss of SR45 million ($12 million).

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Travel, Tourism & Hospitality

Emirates to recruit 6,000 staff over next six months

Emirates plans to boost its operational workforce by recruiting more than 6,000 staff over the next six months. As restrictions ease, additional pilots, cabin crew, engineering specialists and ground staff will be needed to support its operations.

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IT & Telecommunications

Neom JV seals $200m satellite network deal with OneWeb

Saudi Arabia's futuristic $500-billion city Neom said one of its subsidiaries has signed a JV agreement with OneWeb, the global communications network powered from space, to bring high-speed satellite connectivity to Neom and the wider Mideast countries.

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Health & Environment

Element leads TIC industry in commitment to net zero

Element Materials Technology sets out its new, industry leading environmental ambition, committing to science-based targets and net zero emissions across its entire global business by 2035.

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Media & Promotion

Social media top tool for growth for female entrepreneurs

Ninety-five per cent of female entrepreneurs in the region identify social media channels as the top tool for their business ventures, said experts, citing a study conducted among Female Fusion’s network of 20,000+ members across the region.

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Education, HR & Training

Bentley announces global expansion of education programme

Bentley Systems, the infrastructure engineering software company, has announced the global expansion of its education programme - offering seamless access to learning licenses of 60 of its applications - free of cost, to eligible students and educators.

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Miscellaneous

Hero MotoCorp inaugurates flagship dealership in Dubai

India’s Hero MotoCorp Ltd, the world's largest manufacturer of motorcycles and scooters, has inaugurated a new exclusive dealership in Dubai, expanding its presence in the Gulf Market to 10 customer touchpoints in five countries.

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