Saturday 1 August 2015

Addis Ababa - Djibouti railway nears completion

The Addis Ababa (Ethiopia) - Djibouti Railway project is nearing completion and will begin operation in early 2016, a report said. The railway project is expected to contribute significantly towards industrialisation and structural transformation of the region. Chi


Tata Housing opens office in Dubai

Tata Housing, one of the fastest growing real estate companies in India, has opened its international office in Dubai, UAE to meet the growing demand from consumers in the region. This office will further strengthen its global presence, in addition to existing international offic


UAE nuclear power plant unit 74pc complete

Construction of the Barakah Nuclear Power Plant in Abu Dhabi, UAE, is now well under way with about 74 per cent of the work on Unit 1 now complete. Emirates Nuclear Energy Corporation's (Enec) first 1,400 MW Unit is scheduled for completion in 2017. The plant w


Saudi builder Al-Khodari Q2 net profit surges

Saudi Arabian builder Abdullah Abdul Mohsin Al-Khodari Sons on Sunday said its second-quarter net profit more than quadrupled as it sold some equipment and margins improved. The company made a profit of SR34.9 million ($9.31 million) in the three months to June 30, up from SR7.9


Tecom, Amlak offer financing for Villa Lantana homes

UAE’s Tecom Investments has signed an agreement with Amlak Finance, to offer Shari’a compliant financing options via its Amlak Tatweer programme to all purchasers of freehold Villa Lantana homes in Dubai. Amlak, the UAE’s first specialised real estate finance pr


Car parks plan for vacant land plots

Unused plots of land in some of Bahrain’s most congested areas could soon be hired out on a monthly basis for use as car parks, a report said. The Capital Trustees Board is already compiling a list of empty plots in areas such as Seef and Juffair, prior to negotiating lease


Ships cross Egypt's New Suez Canal in first test-run

The first cargo ships passed through Egypt's New Suez Canal on Saturday in a test-run before it opens next month, state media reported, 11 months after the army began constructing the $8 billion canal alongside the existing 145-year-old Suez Canal. The new waterway, which Pre


Bahrain’s Al Fateh Corniche revamp on track

A much-awaited revamp of Manama’s ‘crumbling’ Al Fateh Corniche is one step closer to reality following the conclusion of six months of negotiations over its future. An upgrade of the corniche, which runs along the coast near Ahmed Al Fateh Islamic Centre (Grand


Tabreed's net profit rises 3pc to $41m

National Central Cooling Company (Tabreed), a leading UAE-based district cooling utility infrastructure company, has posted a net profit of Dh153.4 million ($41.7 million) for the first half of the year, a three per cent increase compared to the same period last year. Tabreed&rsq


Dubai underwater hotel in doubt as investor withdraws

An underwater hotel that had been planned for Dubai has been thrown into doubt after a key investor from the project withdrew, according to a report. The Water Discus Hotel was unveiled three years ago when it received the backing of Dubai Drydocks World, said The National

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