Sunday 26 June 2016

India clears deal to buy 145 BAE artillery guns

India's defence procurement agency has cleared a proposal to buy 145 M777 Ultra Lightweight Howitzer artillery guns from BAE Systems in a deal worth an estimated $750 million, a defence ministry source said on Saturday. Under the deal, 120 of the 145 guns will be assembled in


US multinational 3m gets Saudi trading licence

US-based multinational company 3M, a leader in developing innovative solutions, has been granted a trading licence by the Saudi Arabian government. With this approval, the global, science-based company has become one of only three companies to be granted 100 per cent ownership an


Raytheon wins $523m Kuwait defence contract

Raytheon Company, a US-based technology and innovation leader, has won a $523 million contract from the US Army for the upgradation of Kuwait's Patriot Air and Missile Defence Systems. With this upgradation, Kuwait will be able to better protect its cities and key infrastruct


UAE firm sees solid 'green' solar panel tech growth

Emirates Insolaire, a pioneer in the development of new solar technologies and a joint venture of Dubai Investments PJSC and SwissInso Holding, is expecting strong growth for its sustainable, energy-efficient coloured solar panel technology amidst surging demand for Building-Integrated Photovol


ABB says no plan to buy German rival Kuka

Power and automation company ABB has dismissed reports it could buy German robot maker Kuka, the Swiss company's chief executive, Ulrich Spiesshofer, wrote in a memo to staff. "Recent media reports that we will bid for our German competitor Kuka are pure speculation,&quo


Asian car makers fret over Brexit uncertainty

Executives at Asian automakers with factories in Britain, largely set up to export to the European Union, say they could slow investments in Britain or pause them for now, after the country voted to leave the 28-nation bloc. Automakers, including Toyota and Nissan, had been among


Jaguar committed to investment decisions after Brexit

Indian automaker Tata Motors Ltd's British luxury arm Jaguar Land Rover will remain committed to all its manufacturing sites and investment decisions, a company spokeswoman said in a statement on Friday. Earlier on Friday Britain voted to leave the 28-nation European Union bl


MTM Powersports launches new jet boat

MTM Powersports, an affiliate of UAE-based Al Masaood Group, has announced the launch of the C-Eagle 220x jet boat, the second generation of its flagship sport boat models. Authorised by Sea-Doo, the C-Eagle model is the first high quality jet boat manufactured in the Middle East


Agility funds education of 100 girls in rural Ghana

Agility, a leading global logistics provider, in partnership with the Campaign for Female Education (Camfed), will fund the education of 100 girls in rural Ghana. Camfed is a non-profit organisation dedicated to eradicating poverty in Africa through the education of girls and the


Iran’s crude steel production up 4pc

Iranian steelmakers produced a total of 7.216 million tonnes of crude steel in the first five months of 2016, registering a growth of 3.91 per cent compared to 6.944 million tonnes for the same period last year, a report said. In May, Iran’s crude steel output hit 1.645 mil

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