Monday 22 April 2024

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26% GROWTH LAST YEAR
UAE travel & tourism sector GDP share to hit $64bn

The UAE's Travel and Tourism sector will continue to grow at pace in 2024 with its GDP contribution set to reach over AED236 billion ($64.26 billion) from AED220 billion last year, according to a World Travel & Tourism Council’s (WTTC) report.

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1

VITAL LINK FOR FREIGHT RAIL
FCC consortium announces 25pc NEOM tunnel work completion

Spanish infrastructure major FCC has announced that its consortium has achieved a key milestone in the construction of a 8.7km-long tunnel coming up within Saudi Arabia's ambitious futuristic city project NEOM with the work now 25% completed.

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2

FUND ACQUIRES 51% STAKE IN TAWAL
PIF, stc Group to form region’s largest telecom tower firm

Saudi Arabia’s Public Investment Fund (PIF) and Saudi Telecommunications Company (stc Group) have signed definitive agreements whereby PIF will acquire a 51% stake in Telecommunication Towers Company Limited (Tawal) from stc Group.

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3

INSIGHT
Family businesses ‘prioritise expansion, technology’

Expanding into new sectors and markets ranked first on the list of priorities for Dubai’s next generation of family business members, with business development second and the adoption of new technologies following in third place.

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4

INSIGHT
Companies planning to modernise offices to woo top talent

Employers across the globe are planning to invest in the office design and technology to attract top talent with 81% of employers having already or planning to redesign workspaces in the next 24 months, according to a study by Cisco.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

BATC unit lands Riyadh smart parking management contract

Saudi-based BATC Investment and Logistics has signed a deal with Arabian Internet and Communications Services for the operation and maintenance of smart public parking spaces in Riyadh. In the first phase, the project targets 164,000 public parking lots.

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Energy, Oil & Gas

Abu Dhabi summit sets out roadmap to future fuels economy

Leading industry leaders from across the globe along with senior ministers and policymakers discussed ways to advance development of green hydrogen economy at a key summit held in Abu Dhabi, thus outlining the roadmap to future fuels economy.

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Finance & Capital Market

Beyon Money - Medical.BH partnership to benefit customers

Beyon Money, part of the Beyon Group, has announced a partnership with Medical.BH to benefit its customers who book and pay for health services using a Beyon Money card, with up to 5% unlimited cashback.

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Analysis, Interviews, Opinions

Both humans and tech must evolve as the AI era unfolds

As AI becomes more and more sophisticated, it is imperative that it is figured out how to harness the power of its innovations without opening up to dangerous risks.

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Industry, Logistics & Shipping

Almarai posts solid growth in Q1; revenue soars to $1.43bn

Leading Saudi food conglomerate Almarai has registered solid growth in its net profits in Q1 which surged 9% to SAR692 million ($184.3 million), while its revenues soared to hit SAR5.4 billion ($1.43 billion), posting a 8% growth.

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Travel, Tourism & Hospitality

Ethiopian Airlines launches new service to Warsaw, Poland

Ethiopian Airlines, Africa's largest network operating carrier, is excited to announce the launch of new four times weekly passenger services to Warsaw, Poland via Athens. The inaugural flight is scheduled to begin on June 16, 2024.

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IT & Telecommunications

PIF, stc Group to form region’s largest telecom tower firm

Saudi Arabia’s Public Investment Fund (PIF) and Saudi Telecommunications Company (stc Group) have signed definitive agreements whereby PIF will acquire a 51% stake in Telecommunication Towers Company Limited (Tawal) from stc Group.

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Motoring

OMODA & JAECOO to take centre stage at Beijing Auto Show

OMODA & JAECOO, the innovative automobile brands dedicated to pioneering the future of travel, have announced their participation at the 2024 Beijing International Automotive Exhibition, set to commence on April 25.

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Health & Environment

Saudi doctors sweep awards at Geneva Inventions Expo 2024

A team of doctors from Makkah have made history at the prestigious Geneva International Exhibition of Inventions 2024 winning gold, silver and bronze medals for all five inventions they presented.

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Media & Promotion

Adnec, Terrax launch new recycled flooring system for events industry

Adnec Group has partnered with UAE-based Terrax Environmental to develop a 100% recycled modular flooring system that supports sustainability in the events industry. The new TerraTile represents a breakthrough in event sustainability.

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Education, HR & Training

2nd Industrialists Career Exhibition opens, 800 jobs up for grabs

The second edition of the Industrialists Career Exhibition has opened aiming to provide 800 jobs from more than 80 industrial, technological and service companies, including 150 jobs for people of determination.

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