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July 2019

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Markets

2,773.11 1.24%
Volume
137,120,462
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1.24%
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2,356
28
Up
0
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Traded stocks 35
5,290.90 1.06%
Volume
144,556,496
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1.06%
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2,082
16
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2
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DRC
8.91
IFA
0.25
Gulf Cement
0.9
Sudatel
0.4
Taqa
0.75
Sharjah Islamic Bank
1.1
Gulf Navigation
0.79
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0.46
IHC
1.66
FAB
15.96
Emaar
4.95
Aldar Properties
2.18
IHC
1.66
Sharjah Islamic Bank
1.1
Aldar Properties
2.18
Arkan
0.37

Arabian Industry


Empower awards contracts worth more than Dh100mn for network extension at Dubai Production City

Emirates Central Cooling Systems Corporation (Empower), the world's largest district cooling services provider, announced that it has awarded contracts worth over Dh100mn to extend its cooling service pipeline network with a length of about 10 km to connect the various plants located in Dubai Production City.Empower highlighted that the extension of its network is part of its strategy to develop its infrastructure using advanced technologies to achieve customer happiness and satisfaction.The project consists of two network extensions to inter-connect 7 semi-permanent plants. Empower highlighted that the network, which serves Dubai Production City, will be completed by Q1 of 2020.“At Empower,...

DEWA is a strategic partner of third AccessAbilities Expo

Dubai Electricity and Water Authority (DEWA) has announced its sponsorship of the third AccessAbilities Expo, which is held under the patronage of HH Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority and Chairman of Dubai Airports, from 5-7 November 2019 at the Dubai International Convention and Exhibition Centre. As a socially-responsible government organisation, DEWA is a strategic partner to the Expo, which is the largest of its kind in the Middle East and Africa in terms of space and number of participants. AccessAbilities Expo is a global platform that provides a full range of smart solutions...

Light Middle East to illuminate regional market set to shine with 6-7% CAGR until 2026

As regional moves to decrease carbon footprint and power demand take hold, and industry researchers forecast continued lighting sector growth over the next seven years, the 14th edition of Light Middle East - the sector’s leading networking and sourcing exhibition and conference, is set to bring together leading lighting solution providers and state-of-the-art smart lighting and building automation technologies under one roof.Running from 15-17 October at Dubai World Trade Centre, Light Middle East 2019 will facilitate growth in the Middle East region firmly established as “one of the world’s fastest-growing lighting solutions markets”, with sector expansion forecasted at 6-7 percent...

Italy’s Saipem and UAE’s Plambeck Emirates to build 500MW floating offshore wind farm in Saudi Arabia

Italian contractor Saipem has signed a memorandum of understanding with Plambeck Emirates LLC, a solutions company in the field of renewables based in Abu Dhabi, and an exclusive agreement for a 500MW floating offshore wind farm in the kingdom.Francesco Balestrino, renewables and green tech product manager of Saipem’s Xsight division, says he is ready for the challenge."We believe that the wind market in Saudi Arabia can be supported by innovative solutions for the construction of offshore wind farms, such as the Saipem technology Hexafloat, with an accelerated programme and reduced costs,” he said.“Initiating the new market in Saudi Arabia is...

ABB TXpand: A new transformer technology that enhances safety for people and the environment

Transformers are rigid and strong assemblies. But when extreme pressure builds up inside the electrical equipment, it can, in rare cases, lead to tank rupture, becoming a serious safety and environmental hazard.TXpandTM is a comprehensive solution that makes transformers more secure, similar to how crumple zones in cars redistribute the force of a collision and protect passengers.The technology is based on extensive analysis and modelling. It is built to make the most rigid areas within a transformer flexible, the weakest ones stronger and include rupture points – to control the most unpredictable failures. Dry bushings and a conservator shutter valve...

Hanergy’s Thin-film Solar Modules to Power Shanghai’s ‘Rafael Gallery’

Leading clean energy giant, Hanergy has announced that its cutting-edge thin-film solar modules will cover the 150,000 square meter roof of the ‘Rafael Gallery’ located at a Tech City in Shanghai.Designed by the world renowned architect, Rafael Vinoly, the ‘Rafael Gallery’ at Songjiang District of Pudong is a 1.5 kilometer sky bridge stretching across the top of over 20 skyscrapers, making it the longest urban industrial porch in the world. Outlined with successive curves, elevation between highest and lowest points being 18 meters, and floating above buildings as tall as 80 meters, the sky bridge resembles a giant rolling cloud,...

JinkoSolar Ranked Among Fortune China 500 Companies

JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced that it was ranked 340th on the 2019 Fortune China 500 and first among solar module manufacturers. This marks the fifth consecutive year that the Company has been included in the Fortune China 500 list.The 2019 Fortune China 500 list is an annual ranking measured by revenue of the top 500 Chinese companies listed on both domestic and overseas markets compiled by Fortune China.After more than a decade of robust global expansion, JinkoSolar has grown...

Jumbo Electronics ties up with Careem for UAE road safety

Jumbo Electronics in partnership with Careem, is offering its customers a hassle-free ride as part of Dubai Summer Surprises to mark the UAE's road safety campaign.From 4th July to 3rd August, customers who purchase the latest smartphones from Jumbo's annual Mobile Fest will get Careem vouchers of up to AED60. With DSS currently underway, the Mobile Fest offers great discounts and promotions across a variety of best-selling smartphone brands, including Samsung, Oppo, Nokia, HTC, Huawei, Alcatel, Honor, and Apple among others."At Jumbo, we are committed to offering unique lifestyle experiences & value to our customers, and for this we look...

ADNOC could launch regional oil benchmark: Reuters

ADNOC could be planning to launch a regional oil benchmark, Reuters reported, citing four anonymous sources. The plan has reportedly not been finalised or approved by the emirate's Supreme Petroleum Council. Reuters quotes one of its anonymous sources as saying that "ADNOC hopes the benchmark will allow it to earn more money and gain bigger prestige in the region," as part of the wider drive by Sheikh Mohammed bin Zayed to transform the nation into a leader in the region.ADNOC has made a concerted push to boost its downstream portfolio, and to grow its trading operations. This comes as national...

Mubadala Petroleum to farmout a 20% participating interest in Indonesia assets

Mubadala Petroleum has signed an agreement with Premier Oil to farmout a 20% participating interest in each of the Andaman I and South Andaman Gross Split Production Sharing Contracts (PSCs), in which Mubadala Petroleum is the operator.The Andaman I and South Andaman PSCs are located in the underexplored but proven North Sumatra basin offshore Aceh. Mubadala Petroleum is also a partner with a 30% participating interest in the Andaman II PSC which is operated by Premier Oil.With participating interests in these three adjacent blocks, Mubadala Petroleum is the largest net acreage holder inthe area, securing the core of the North...

IRENA and RES4Africa Partner to Accelerate Renewables in Africa

IRENA and the RES4Africa Foundation have agreed to cooperate to increase the speed of renewable energy development in Africa in the pursuit of the continent’s sustainable development and climate goals. The ‘Letter of Intent’ signed on 15 July 2019 in Rome, will see the two parties work together to explore public-private initiatives, knowledge creation opportunities, capacity building programmes and strategic dialogues to accelerate renewable energy deployment in Africa.IRENA Director-General Francesco La Camera (middle) and RES4Africa Foundation President Antonio Cammisecra (left) sign a Letter of Intent between their two organisations.With more than 620 million Africans – nearly half the continent’s population...

Hyflux says S$535m rescue deal is Utico's valuation; deal still on the table

HYFLUX said on Wednesday that it has sought clarification from potential white knight Utico regarding a statement it had made on Tuesday valuing its rescue deal at S$535 million.In a regulatory update, the embattled water treatment company clarified that the S$300 million equity injection and S$100 million shareholder loan, along with Utico's current intention to offer the cash equivalent of 4 per cent stake in the enlarged Utico group "has not changed".These were the terms stated in a July 11 joint announcement by both Hyflux and UAE utility Utico, which said at the time that both parties were still working...