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DEAL INKED WITH SHAREHOLDERS
Al Futtaim to acquire $666m stake in Saudi retail group Cenomi
UAE business conglomerate Al Futtaim has announced plans to acquire a 49.95% stake in Saudi brand partner Cenomi Retail from its key shareholders including Saudi FAS Holding and FAS Real Estate Company, in a deal worth SAR2.5 billion ($666 million).
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MANUFACTURING GROWTH UP 4pc
NIDLP drives Saudi non-oil GDP growth; hits $263bn in 2024
The National Industrial Development and Logistics Programme, which integrates the energy, mining, industry and logistics sectors continues to be a cornerstone of Saudi Vision 2030, driving 39% growth in non-oil GDP hitting SAR986 billion ($263 billion).
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DELIVERY OF KEY INFRASTRUCTURE
Bechtel lands PMC contract for Riyadh World Expo 2030
Bechtel has secured the project management consultancy contract for the 2030 World Expo in Riyadh, Saudi Arabia. The scope of work includes overseeing the delivery of infrastructure programme across the 6-sq-km site including early works and utilities.
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ANALYSIS
UAE navigates global tariff storm with oil stability, fiscal strength
As global markets brace for a new wave of US tariffs and shifting OPEC+ production strategies, the UAE appears firmly grounded, thanks to strategic oil exemptions, fiscal resilience, and a diversified economy, says a leading industry expert.
4
ANALYSIS
Autonomous ships a reality soon, but is the industry ready, asks expert
For years, shipping’s relationship with autonomy has been one of cautious optimism, as if they were a distant sci-fi. But the reality is crewless ships are already here and will sail autonomously long before the industry feels ready, says an expert.
Top Trade News
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Sepco3 awards EPC contract for 700MW Yanbu Wind project
Shandong Electric Power Construction Corporation No. 3 (Sepco3), a subsidiary of China Electric Power Construction Corporation has awarded a EPC contract for the 700MW Yanbu Wind Energy Project to a consortium led by Japan's Marubeni Corporation.
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Al Futtaim to acquire $666m stake in Saudi retail group Cenomi
UAE business conglomerate Al Futtaim has announced plans to acquire a 49.95% stake in Saudi brand partner Cenomi Retail from its key shareholders including Saudi FAS Holding and FAS Real Estate Company, in a deal worth SAR2.5 billion ($666 million).
More…
Sepco3 awards EPC contract for 700MW Yanbu Wind project
Shandong Electric Power Construction Corporation No. 3 (Sepco3), a subsidiary of China Electric Power Construction Corporation has awarded a EPC contract for the 700MW Yanbu Wind Energy Project to a consortium led by Japan's Marubeni Corporation.
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Global economy facing heightened uncertainty, complex challenges: G20
Global economy is facing heightened uncertainty amid ongoing wars and conflicts, geopolitical, trade tensions, supply chains disruption and high debt levels, which impact financial and price stability, said G20 ministers at a meeting in South Africa.
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Younger generation of AI natives will shape the future of work
Agentic AI is driving a generational shift that will revolutionise industries and reshape workforce dynamics in ways we now have begun to understand. Soon, human and AI 'workers' will learn to coexist, collaborate and thrive together, said an expert.
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Sepco3 awards EPC contract for 700MW Yanbu Wind project
Shandong Electric Power Construction Corporation No. 3 (Sepco3), a subsidiary of China Electric Power Construction Corporation has awarded a EPC contract for the 700MW Yanbu Wind Energy Project to a consortium led by Japan's Marubeni Corporation.
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Etihad Airways takes off to Al Alamein
Etihad Airways has launched its inaugural flight to Al Alamein, an Egyptian coastal city, on July 17, adding it to its summer destinations list, operating twice-weekly from Abu Dhabi.
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BTECH, WorkSmart join hands for key Bahrain tech events
The Bahrain Technology Companies Society (BTECH) said it has signed an agreement with WorkSmart Events Management to co-organise the 13th edition of the MEET ICT Conference and the Bahrain International Technology Exhibition (Bitex) in November.
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Madar launches 99-unit Tulip Oasis branded homes in Dubai
UAE-based Madar Developments has announced the launch of its key community project - Tulip Oasis 11 Residences - located in the heart of Majan district in Dubai. Comprising 99 well-designed apartments, the premium project is set for completion in 2026.
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Pony.ai to start autonomous vehicle pilot trials in Dubai
Roads and Transport Authority has signed a deal with Pony.ai, a specialist in autonomous driving tech, to begin pilot trials of driverless vehicles in Dubai. Pony.ai recently unveiled 7th generation vehicles jointly developed with top global car makers.
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ROSHN teams up with CST for 'Recycle Your Device' initiative
ROSHN Group is partnering with the Communications, Space & Technology Commission (CST) for a nationwide CSR initiative, Recycle Your Device. Under this campaign, which run until December, aims to recycle 100,000 devices over the next six months.
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Bechtel lands PMC contract for Riyadh World Expo 2030
Bechtel has secured the project management consultancy contract for the 2030 World Expo in Riyadh, Saudi Arabia. The scope of work includes overseeing the delivery of infrastructure programme across the 6-sq-km site including early works and utilities.
More…
DAE unit to launch aviation training programme in Jordan
Amideast has signed an agreement with Jordan Aircraft Maintenance Company, a unit of Dubai Aerospace Industries, under which it will provide comprehensive training to 60 young students mainly in interpersonal skills development and digital knowledge.
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