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DEAL INKED FOR 3,025 sq km PLOT
Masdar consortium to set up $10bn wind farm project in Egypt
Abu Dhabi-based Masdar has joined hands with top African renewable energy developer Infinity Power and Egyptian group Hassan Allam Utilities to sign an agreement with the Egyptian government for setting up a 10GW wind farm at an investment of $10 billion.
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25m PASSENGER CAPACITY
Kuwait International Airport Terminal 2 work enters fast track
Turkish group Limak has announced that work is nearing completion on the Kuwait International Airport Terminal 2 (KIA T2) which boasts several innovative, modern systems as well as key facilities. Once operational, it will cater to 25 million passengers.
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WELL-BEING OF ALL GOAL
Dubai plans 200 projects under 'Quality of Life' strategy
Dubai has launched its “Quality of Life Strategy 2033”, a visionary plan comprising 200 projects and initiatives dedicated to ensuring the comprehensive well-being of all segments of the community including nationals, residents and visitors.
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ANALYSIS
UAE construction sector riding high on $590bn project pipeline
Despite global challenges such as inflation and geopolitical tensions, the total pipeline value of unawarded construction projects in Mena region is set to hit $3.9 trillion with UAE holding a 15% share worth $590 billion, according to an industry expert.
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ANALYSIS
ESG sukuk to top $50bn amid new regulatory frameworks
The ESG (environmental, social, and governance) sukuk will cross $50 billion mark globally in the next two years as issuers aim to meet their funding diversification goals and ESG mandates, alongside new regulatory frameworks, according to Fitch Ratings.
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 | Industry Sectors |
Shapoorji Pallonji wins 429-unit Riyadh residential project contract
Shapoorji Pallonji, a major Indian construction conglomerate, has secured a design-and-build contract from top Saudi real estate developer Roshn for a 429-unit residential community coming up within Phase Two of its flagship Sedra development in Riyadh.
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Spinneys posts record sales of $222m in Q1 2024
Spinneys, a leading fresh food retailer in the UAE, has seen its Q1 2024 total revenue grow by 10.9% year-on-year to AED815 million ($222 million).
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Taqa Q1 revenues hit $3.73bn; net profit at $571m
Abu Dhabi National Energy Company (Taqa), one of the largest listed integrated utilities in Europe, the Middle East and Africa, reported a robust financial performance during Q1 2024, bolstered by contributions from SWS Holding.
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UAE continues to post robust growth in non-oil sectors: OPEC
The UAE continues to demonstrate robust growth in its non-oil sectors with major contributions from the construction, finance and insurance sectors, according to Opec. Its non-oil GDP registered a significant y-o-y increase of 7.3% in Q2 2023.
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UAE construction sector riding high on $590bn project pipeline
Despite global challenges such as inflation and geopolitical tensions, the total pipeline value of unawarded construction projects in Mena region is set to hit $3.9 trillion with UAE holding a 15% share worth $590 billion, according to an industry expert.
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Al Ghurair Foods breaks ground on broiler farm in Abu Dhabi
Al Ghurair Foods, a leading food processing company in the UAE, has held the groundbreaking ceremony for its first broiler farm in Abu Dhabi’s Khalifa Economic Zones Abu Dhabi (Kezad).
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Kuwait International Airport Terminal 2 work enters fast track
Turkish group Limak has announced that work is nearing completion on the Kuwait International Airport Terminal 2 (KIA T2) which boasts several innovative, modern systems as well as key facilities. Once operational, it will cater to 25 million passengers.
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Thuraya unveils next generation IP NEO terminal
Thuraya Telecommunications Company, the mobile satellite services subsidiary of Al Yah Satellite Communications Company (Yahsat), has unveiled IP NEO, the first in a new family of next-generation satellite communications products.
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SEVEN, Qiddiya merge to set up Saudi lifestyle, leisure giant
Saudi Entertainment Ventures (SEVEN), a subsidiary of the country's sovereign wealth fund PIF, has announced its merger with Qiddiya Investment Company (QIC) in a move that will see the establishment of a lifestyle and entertainment giant in the kingdom.
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DP World, Einride deploy electric, autonomous freight mobility
DP World has formed a partnership with freight mobility company Einride to electrify inter-terminal container flows at Jebel Ali Port, improving efficiency and sustainability at the 10th busiest port in the world.
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Tadweer to build Abu Dhabi's first greenfield material recovery facility
Tadweer Group, a leader in sustainable waste management practices, has announced the closed bidding for the planned development of Abu Dhabi’s first greenfield material recovery facility with an expected capacity of 1.3 million tonnes per year.
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iGA, Thales reach agreement to revamp ID card system
Bahrain Information & eGovernment Authority (iGA) has signed an agreement with global technology leader Thales to comprehensively revamp the kingdom’s ID card system. Under this, premium features such as biometric and security features will be enhanced.
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New University of Strathclyde Bahrain to offer range of courses
The University of Strathclyde has announced plans for a major scale-up of its activity in Bahrain to create University of Strathclyde, Bahrain.
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Beyon Solutions to acquire top software solutions provider
Beyon Solutions, part of the Beyon Group, has entered into an agreement to acquire a controlling stake in Link Development, a top regional provider of software solutions for digital transformation, with operations in Egypt, Saudi and the UAE.
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