Saturday 25 October 2014
 
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Engineering specialist Roper ME opens in Dafza

Dubai Airport Freezone Authority (Dafza) has welcomed Roper Middle East, a leading provider of engineered products and solutions for global niche markets, to its roster of high-profile multinational corporate clients to fortify its business in the region. Roper includes as many a

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Alafco to spend $600m buying aircraft over two years

Kuwait's Aviation Lease & Finance Co (Alafco), a unit of Kuwait Finance House (KFH), plans to spend about $600 million buying 15 new aircraft over the next two years to cover a gap before it receives already-ordered planes in 2017, the company's chief executive said.

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Savola to pay $0.2 per share dividend for Q3

Saudi Arabia's Savola Group said it would distribute a third-quarter dividend of SR0.75 ($0.2) per share. The dividend was split between a SR0.5 a share ordinary dividend and a SR0.25 a share exceptional dividend after the company's "outstanding performance and the c

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Four funds bid for British luxury paintmaker

American buyout firms Carlyle and Bain Capital are among a group of four private equity funds preparing second-round bids for British luxury paintmaker Farrow & Ball, several sources familiar with the situation said. The other bidders are Bahrain investment firm Investcorp an

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Ma'aden Q3 net profit falls 66pc, beats forecasts

Saudi Arabian Mining Company (Ma'aden), the Gulf's largest miner, beat analyst forecasts as it reported a 66 per cent fall in third-quarter net profit after a one-off gain was not repeated. The company's net profit in the three months to September 30 was SR485.4 milli

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Savola Q3 net profit jumps by 53pc

Savola Group, Saudi Arabia's largest food products company, reported a 53.3 per cent rise in third quarter net profits on Thursday, beating analyst forecasts. Net profit in the three months to September 30 was SR701.4 million ($187 million), compared to SR457.4 million ($121.

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Sabic drops petchem expansion plan with Shell

Saudi Basic Industries Corp (Sabic) will not move ahead with plans to expand an existing petrochemical joint venture with Royal Dutch Shell in Saudi Arabia as the results of feasibility studies were not encouraging, Sabic said on Thursday. Saudi Basic Industries Corp (Sabic) will

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Saudi imports jump 19.6pc to $15bn in August

Saudi Arabia's imports jumped an annual 19.6 per cent in August, ending nine consecutive months of declines, while growth in non-oil exports accelerated to 22.2 per cent, data from the Central Department of Statistics and Information showed on Thursday. The kingdom's non-

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Yokogawa-Murata tie-up to develop wireless for plants

Japan-based Murata Manufacturing and Yokogawa Electric Corporation have reached an agreement whereby they will cooperate in the development of communication modules for field wireless devices used in plants. Through this alliance, Yokogawa will license its ISA100 Wireless communi

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Iran eyes $70bn investment in petchem sector

Iran has drafted a 10-year plan to attract $70 billion in investments into its petrochemical sector and an investment fund will be set up in this regard, a senior official has said. Deputy Minister of Oil Abbas She'ri Moqaddam said the petrochemical investment fund will be es

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