Monday 25 May 2015

Emaar to float Egypt unit on Cairo bourse

Dubai's Emaar Properties plans to list a 13 per cent stake in its Egyptian unit on Cairo's stock exchange, the largest listed developer in the UAE said on Wednesday. The share sale will comprise a public offering to retail investors in Egypt, plus a private placement to l


SOSi wins Iraq army camp upgrade deal

US-based SOS International (SOSi), a specialist in provision of logistics, construction, training, intelligence, and information technology solutions to the defence, diplomatic, intelligence, and law enforcement communities, has been awarded a modification contract worth 42 billion Iraqi dinars


Saudi PVC market on track to top $890m by 2020

Continuing growth in the construction industry coupled with favourable government policies will drive Saudi Arabia’s PVC (polyvinyl chloride) market to reach $892 million by 2020, a report said. Rigid as well as flexible PVCs are vastly used in the construction industry in


RTA completes Dubai internal roads work

The Roads and Transport Authority (RTA) of Dubai said it has completed construction of internal roads in 13 residential districts in the UAE emirate at a cost of Dh552 million ($150 million). Mattar Al Tayer, chairman of the board and executive director of the RTA, said works wer


Desso launches 'talking' carpets

Desso, a leading European carpet manufacturer, has launched Luminous Carpets, a practical application for high-traffic sites such as airports, and a possible effective emergency safety mechanism in hotel corridors. As a result of a collaborative partnership between Philips Lighti


RAK Properties awards key marina contract

RAK Properties, one of the biggest property developers listed on the Abu Dhabi Stock Exchange, has awarded a major contract to Majestic Jetties & Marinas for the construction of the first phase of its lifestyle marina at Mina Al Arab in the UAE emirate of Ras Al Khaimah. The


Egypt's Sodic doubles Q1 net profit

Egypt's third-largest listed property developer Sodic has reported a first-quarter net profit of E£79.31 million ($10.39 million), nearly double the E£40.33 million ($5.26 million) it earned in the same period last year. Sodic, also known as Sixth of October Devel


Kens, Studio E offer hand-painted wallpaper

Kens & Company, a provider of quality finishes and Studio E Hand Painted Wallpaper have partnered bring to the Gulf their collection of authentic Italian polished plaster and artisan metal-leaf as wallpaper. Unlike costly, site-applied polished plaster finishes with problemat


Daikin launches new range of high ambient ACs

Daikin Industries, a Japan-based HVAC (heating, ventilation and air-conditioning) leader, said it has launched the GCC’s first commercialised high ambient air-conditioning system to use R32, an alternative refrigerant to R22 with zero ozone depletion potential and lower global warming imp


Lutron launches novel lighting solutions in region

Lutron, a global lighting control expert, unveiled its innovative lighting, temperature and shading control solutions, myRoom, for the Middle East hotel industry. Founded in 1961, Lutron Electronics is headquartered in Pennsylvania, US. From dimmers for the home to lighting manag

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