Thursday 30 March 2017

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MAJOR REVENUE BOOST
Mubadala 2016 profit grows twofold to $898m

UAE-based Mubadala Development Company, said its net profit for 2016 more than doubled to Dh3.3 billion ($898 million) from Dh1.2 billion ($326 million) the previous year, mainly driven by revenue growth from its diversified portfolio.

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1

SOLAR OUTPACES WIND
Global green energy capacity hits new high in 2016

Global renewable energy generation capacity increased by 161 gigawatts (GW) in 2016, making the strongest year ever for new capacity additions, according to data released today by the International Renewable Energy Agency (Irena).

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2

PLANES ON ORDER FOR NEXT 10 YRS
30,000 aircraft needed in next 20 years, say industry experts

The aerospace industry expects to see market demand for aircraft continue to grow on an annual basis with industry experts predicting a need for around 30,000 aircraft in the next 20 years.

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3

TECHNOLOGY
Is exploration and production about to be ‘uber-ized’?

We all know that digital has disrupted the taxi industry – but can the same thing happen in oil and gas? What if the field operated like Uber, with wells as ‘customers’? Accenture explores the possibilities.

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4

ANALYSIS
Lower oil prices impact GCC banking sector

The banking industry in the GCC grew at a lower rate in 2016 than it did in 2015 with just a 5.2 per cent increase, stemming almost exclusively from major customer segments such as retail and corporate banking, said a new study.

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5

NEWS IN PICTURES
Stunners in the sky

South Korean Air Force's aerobatic flight team of T-50 perform around the Petronas Twin Towers and the city centre in Kuala Lumpur, Malaysia on March 29 before their return to their base in Wonju, South Korea.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Bobcat rolls out new tail swing excavator

Bobcat, one of the world's leading manufacturers of farm and construction equipment, has launched its new 1.7-tonne E17Z Zero Tail Swing (ZTS) canopy compact excavator model in the region.

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Retail & Wholesale

Gitex Shopper opens with 35,000 products

Gitex Shopper Spring Edition 2017 opened today in Dubai with an impressive line-up of retailers and brands from around the world offering 35,000 products under one roof.

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Energy, Oil & Gas

UAE cuts oil output by 200,000bpd: minister

The UAE reduced its oil production by nearly 200,000 barrels per day this month due to maintenance works, Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy, said.

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Finance & Capital Market

Dubai ‘could become first Blockchain powered city’

Dubai is rapidly moving toward implementing Blockchain technology, which offers speedy and cost-effective transactions, and reaching its target of becoming the first Blockchain powered city by 2020, a senior IT expert has said.

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Analysis, Interviews, Opinions

Trump flouts green concerns; lifts freeze on coal

US President Donald Trump’s latest executive order will mean some swift changes in areas such as lifting the coal moratorium, no longer factoring in climate change in environmental reviews, and changing the social cost of carbon.

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Industry, Logistics & Shipping

Strata plans new ‘Factory of the Future’ in Al Ain

Strata Manufacturing, the advanced composite aero-structures manufacturing facility wholly owned by Abu Dhabi’s Mubadala Development Company, has unveiled plans for its second facility at Nibras Al Ain Aerospace Park.

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Travel, Tourism & Hospitality

Iata calls for alternatives to electronic device ban

The International Air Transport Association (Iata) called on governments to urgently find alternatives to recent measures by the US and the UK to restrict the carry-on of large electronic items on certain flights departing the Mena region.

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IT & Telecommunications

Gitex Shopper opens with 35,000 products

Gitex Shopper Spring Edition 2017 opened today in Dubai with an impressive line-up of retailers and brands from around the world offering 35,000 products under one roof.

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Motoring

Al Khaldi Transport buys 539 Mercedes-Benz trucks

Daimler Commercial Vehicles Mena FZE and Juffali Industrial Products Company (Jipco) have concluded a major deal of 539 Mercedes-Benz trucks with the customer Al Khaldi Transport from Dammam.

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Health & Environment

UAE healthcare market on track to top $28bn

A shift in demand for preventive care, a rise in specialist services and digital health will drive the UAE healthcare market to surge from the current Dh64 billion ($17 billion) to over Dh103 billion ($28 billion) by 2021, a report said.

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Media & Promotion

Cineco reports $12.92m profit

Bahrain Cinema Company (Cineco), market leader in the entertainment industry in Bahrain, reported a net profit of BD4.87 million ($12.92 million) for the financial year ended December 31, 2016.

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Education, HR & Training

Rosatom, Russian universities visit Egypt

Representatives of Rosatom, the atomic energy corporation in Russia, and Russian universities visited major universities of Egypt recently and discussed opportunities for cooperation and development of educational programmes.

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Miscellaneous

Transguard wins new contracts worth $231m

UAE-based Transguard Group, a leading multifaceted business support services company, has announced more than 310 new contract wins worth over Dh850 million ($231 million) annually.

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