Thursday 17 April 2014

Greenstone advises Oman joint venture deal

Greenstone Equity Partners, a Dubai-based investment and advisory firm, has advised Tri-Star Resources on the establishment of a joint venture company, Strategic & Precious Metals Processing (SPMP).   The JV will construct and operate a 20,000 tonne per annu


Abraaj buys into Moroccan chocolate firm

The Abraaj Group, a leading investor operating in global growth markets, has announced the acquisition through one of its funds of a stake in Kool Food, a leading Moroccan chocolate confectionery manufacturer based in Casablanca. Kool Food was founded in 2010 by entrepreneur Anas


Kanoo Machinery wins DP World vendor award

Kanoo Machinery, a member of the Kanoo Group received the DP World, UAE Region’s Top Vendor for 2013 during the awards ceremony held recently at Jebel Ali port, Dubai. This is the second consecutive year that Kanoo Machinery earned the top honour. DP World, U


Alba receives students from US university

Aluminium Bahrain (Alba) recently welcomed a student delegation from Susquehanna University, Pennsylvania, US who visited Bahrain to know more about the kingdom and see first-hand the business of Alba. The team, comprising 25 students along with Dean of the Business School Marsha


Sabic showcases steel products at Riyadh expo

Saudi Basic Industries Corp showcased its wide range of steel products for the building and construction sector at the Metal & Steel Saudi Arabia 2014 exhibition held recently in Riyadh.   The company's products on display included its portfolio of long


Lite-Tech unveils energy-efficient LED lighting

Lite-Tech Industries, a subsidiary of Dubai Investments and a joint venture with Philips Lighting, is set to offer an entire range of energy-efficient LED lighting products and technology across the Middle East.   The company unveiled its LED li


New bill on safety of light cargo vessels approved

A new law covering safety regulations for light cargo ships was approved yesterday by Bahrain's Shura Council.    Under existing law, Coastguards can only deal with ships below 150 tonnes while international maritime treaties do not come into force unti


Ma'aden Q1 profit falls 48pc as metal prices drop

Saudi Arabian Mining Co (Ma'aden) blamed falling metal prices after it posted a 48 percent drop in first-quarter net profit on Monday. Ma'aden made a profit of 125.2 million riyals ($33.4 million) in the three months to March 31, down from 239.2 million riyals in the corr


New system to cut border delays in UAE

A global customs transit system, which cuts the time trucks spend at borders from days to hours, is likely to be fully operational by the end of the year in the UAE, a statement said. This follows the signing of an agreement yesterday between Dubai Customs and the Automobile and


Alba achieves new safety milestone

Aluminium Bahrain (Alba) said it has achieved 2,000,000 work hours without Loss Time Injury (LTI), thus demonstrating the company’s progress in achieving a zero accident work environment for employees across the plant. Alba’s executive management team and other manage

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