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Tuesday July 14, 2020
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23 , Dhu al-Qaadah , 1441
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July 14, 2020
OPEC sees oil demand soaring in 2021 but still below 2019
LONDON — Global oil demand will rebound sharply in 2021, rising by a record 7 million barrels per day (bpd) as the global economy recovers from the coronavirus crisis but will remain below 2019 levels, the Organization of the Petroleum Exporting Countries said in its monthly report.In its first detailed assessment of the market in 2021, the OPEC said the forecast assumed no further downside risks materialized in 2021 such ...
July 13, 2020
Saudia Cargo operates 1,500 flights in 100 days to deliver vital goods and medical equipment
RIYADH — Saudia Cargo has operated more than 1,500 flights since the COVID-19 restrictions came into effect in March. About 500 of these flights have been operated using passenger aircraft deployed for international air cargo, according to an announcement by the company. The move reflects the efforts the company has exerted to fight COVID-19.From March through June, Saudia Cargo has transported around 75,000 tons of vital shipments to the Kingdom ...
July 13, 2020
DMCA strengthens bunkering fleet in Dubai waters
DUBAI — Dubai Maritime City Authority has announced a move to strengthen its bunkering fleet in Dubai waters as part of an advanced step towards organizing, facilitating and enhancing maritime activity. The DMCA has increased the number of licensed vessels to 12 ships for supplying fuel across the emirate's territorial waters. The decision was made in conjunction with the move to resume maritime operations in Dubai anchorage areas, including ship repair ...
July 13, 2020
Almarai tops 2020's most chosen brands in the Kingdom
RIYADH — Almarai company topped the list of the most chosen FMCG brands by consumers in Saudi Arabia for the year 2020, according to the Brand Footprint study issued by KANTR Media for market research, which polls the consumers' views on different companies around the world.Among 521 brands in Saudi Arabia surveyed, Almarai topped Dairy and Beverages sectors while L'usine, Almarai subsidiary, topped the Food sector in Saudi Arabia.“We are ...
July 12, 2020
Amlak International allocation of shares, refund, and trading to begin on Monday
RIYADH — NCB Capital, the financial advisor, lead manager, bookrunner and underwriter of Amlak International’s IPO announced the completion of the allocation of shares for individual (retail) subscribers.NCB Capital said that after closing the subscription period for the retail tranche, all receiving banks completed the settlement and auditing process on Sunday evening, 14/11/1441H corresponding to July 5, 2020G, in accordance with the closing date of the subscription process.The coverage ratio ...
July 12, 2020
Three startups win contest to ramp up Dubai’s next-gen COVID-19 response
DUBAI — in5 has announced three winners in its competition challenging entrepreneurs and startups to create an innovative product or service to boost the UAE’s response to COVID-19 using next-generation technology, media or design.Dubai-based ventures Robomask, CoviBot Pro and Vision Health came out on top. The trio have won a year’s free membership with in5, a business incubator and enabling platform launched by TECOM Group in 2013.This includes 30 days ...
July 12, 2020
Trends and predictions for the GCC retail market in a post-COVID-19 world
DUBAI — CBRE and Roland Berger have published a co-written report "Trends in the GCC Retail Market". The report looks at the retail industry today in the GCC region and provides an outlook on its likely development in a post-COVID-19 world.The global economy is experiencing an unprecedented impact amid the outbreak of COVID-19: dramatic changes in consumer behavior and a widespread spending freeze require various industries to operate in crisis ...
July 12, 2020
Sophos Survey: 71% organizations across the MEA fall victim to public cloud cybersecurity incidents
RIYADH — According to The State of Cloud Security 2020, a global survey from next-generation cybersecurity leader Sophos, almost three quarters (71%) of organizations from the MEA region experienced a public cloud security incident in the last year — including ransomware (23%), other malware (43% ), exposed data (28% ), compromised accounts (28%), and cryptojacking (22%). Globally, organizations running multi-cloud environments are greater than 50% more likely to suffer a ...
July 12, 2020
Dubai Technology Tour to drive UAE-India collaboration in fintech, healthtech
DUBAI — Dubai Startup Hub, an initiative of Dubai Chamber of Commerce and Industry, has announced that it is organizing the first-ever Dubai Technology Tour, which aims to drive UAE-India collaboration in the areas of fintech and healthtech.The virtual trade mission, scheduled for the second week of September, will see 15 entrepreneurs representing promising Indian scale-ups connect with relevant UAE stakeholders, including investors, corporates, and peer scale-ups, pitch their businesses ...
July 12, 2020
PwC’s Academy launches region’s first Transfer Pricing Diploma
DUBAI — In light of recent developments to the Middle East’s tax landscape, PwC’s Academy has launched the region’s first Transfer Pricing Diploma. Awarded by the Association of Taxation Technicians (ATT), the comprehensive programme is designed for tax professionals to navigate transfer pricing — fast becoming one of the most critical issues faced by international businesses in the region.The globally-recognized qualification will be delivered through online classes, in partnership with ...
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