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Empower awards Lagoons cooling contract |
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 Emirates Central Cooling Corporation (Empower) said it has signed a contract with Vanderweil Engineers, one of the largest and most experienced engineering firms, for the design of its district cooling plant at ‘The Lagoons’ project.
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Samsung wins $95bn Jumeirah Gardens contract |
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 South Korea's Samsung Corporation has been appointed as the main contractor for the 600-metre-plus tower on the Dh350 billion ($95.29 billion) Jumeirah Gardens development in Dubai, planned by the local Meraas Development, said a report.
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Amara eyes Asia, ME investments |
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 Dubai-based Amara Holding said on Saturday it is looking for investment opportunities in China, India and the Middle East as growing demand for Islamic finance in those markets mitigates a global economic downturn.
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Gold surges to two-month high |
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 Metals plunged 10 per cent on fears that financial turmoil would hit raw material demand, but gold rose to its strongest in more than two months as frantic investors chased risk-free assets.
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The national carriers of Sri Lanka and the UAE, SriLankan Airlines and Etihad Airways, have entered into a codesharing agreement to boost the route networks of both airlines.
Oman's oil production has increased by 5.3 percent in the first seven months of 2008 but the Gulf Arab state's gas output dropped marginally, official statistics showed on Saturday.
Saudi Arabian Fertilisers Company (Safco) posted a 197 per cent rise in third-quarter profit, in line with analysts' forecasts, due mainly to higher prices of products.
An international investigation is being launched into a Bahrain recruitment company accused of demanding bribes from nurses looking for jobs.
Leading global brands will this week showcase loose coloured gemstones, pearls and finished jewellery pieces at the ICA International Gem Show Dubai 2008.
Zotac International said it will showcase its winning range of VGA cards and motherboards as well look for new channel partners at the Gitex Technology Week 2008.
Like anyone invested in global financial markets, Arab sovereign funds, investment banks and rich individuals are taking a severe beating.