Thursday 29 June 2017

GIB wins retail banking licence in Bahrain

Gulf International Bank (GIB), a leading bank in the Middle East region, said it has been granted a conventional retail banking licence by the Central Bank of Bahrain. Bahrain-based GIB is owned by the governments of the six GCC countries, with Saudi Arabia’s Public Investm


Deliveroo unveils big Abu Dhabi expansion plans

Deliveroo, a leading food delivery company in the region, is set to launch five new delivery service zones at Khalifa City in Abu Dhabi, UAE, as part of its regional expansion plans. This includes a fresh set of partner restaurants, providing Deliveroo’s Abu Dhabi customers


Dhofar Global partners with

Dhofar Global, a leading supplier of hygiene products in the Middle East, has signed a partnership agreement with Dubai-based, a leading online retail and marketplace platform in the region. As per the deal, Dhofar Global’s hygiene solutions will be available on so


Global aerospace, defence revenues hit $674bn

Global aerospace and defence (A&D) sector revenues grew by 2.4 per cent to hit $674.4 billion in 2016, slightly above the estimated global domestic product (GDP) growth of 2.3 per cent, according to a recent study by Deloitte, a leading provider of professional services. The


Sumitomo buys Amec Foster Wheeler's CFB boiler unit

Sumitomo Heavy Industries, an integrated manufacturer of industrial machinery, has acquired the circulating fluidised bed (CFB) boiler business from Amec Foster Wheeler, a UK-based consultancy, engineering and project management company, for $170 million.   The


Massive cyberattack hits global companies, causes turmoil

A major cyber attack worldwide disrupted computers at Russia's biggest oil company, Ukrainian banks and multinational firms on Tuesday, reported CNBC. The virus used is similar to the ransomware attack last month that infected more than 300,000 computers, according t


Aramco signs up Savage for industrial rail switching ops

Savage Saudi Arabia is a joint venture between US-based Savage Companies, a supply chain solutions and industrial services firm, and Ahmad Nasser Albinali Holding Company based in the Saudi city of Dammam.   On the deal, Saudi Aramco said the rail operations wil


Norway implements key wireless network at sea

Leading Norwegian companies Kongsberg Seatex and Radionor have joined forces to develop Maritime Broadband Radio (MBR) system that will enable exchange of information crucial in limiting damage when accidents occur.   MBR, in contrast to previous systems, is hig


Flowcrete acquires top Norwegian polymer group

UK-based Flowcrete has acquired Elmico, a high-tech maker of polyurea waterproofing systems as well as epoxy and polyurethane polymer flooring systems based in Oslo, Norway.   A specialist in the manufacture of seamless industrial and commercial resin floor, wal


WEG launches new SSW900 soft starter series

WEG, a leading global manufacturer of motor and drive technology, has recently launched the SSW900 series of soft starters. These compact soft starters, which replace the current SSW06 soft starter series, are designed for industrial and commercial applications. As high-performan

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