Tuesday 30 June 2015

Al Rawabi invests $6.8m in new cold store facility

Al Rawabi Dairy Company, a leading UAE-based dairy, has expanded its cold storage infrastructure with the opening of a Dh25 million ($6.8 million) facility that can store 4,000 pallets - equivalent to 180,000 crates in a temperature controlled environment. The move comes as Al Ra


Sony to raise $3.6bn to boost sensor production

Sony Corp said it plans to raise up to 440 billion yen ($3.6 billion) by issuing new shares and convertible bonds to invest in its fast-growing image sensors business. Sony said it expects to raise 321 billion yen from a public offering and 119 billion from issuing convertible bo


GE Capital to sell fleet ops for $7bn

Canada's Element Financial Corporation said it will buy General Electric Company's fleet management operations in the US, Mexico, Australia and New Zealand for C$8.6 billion ($6.98 billion) in cash. GE also signed a memorandum of understanding to sell its European fleet b


Amphenol offers to buy FCI Asia for $1.28bn

Amphenol Corporation, a maker of electronic and fiber optic connectors, said it made a binding offer to acquire Singapore-based electronic connectors maker FCI Asia for $1.28 billion to strengthen its telecom products business. Amphenol said on Monday that it would finance the de


Turkcell buys key stake in Euroasia for $100m

Leading Turkish mobile phone company Turkcell said it had signed a deal to buy the remaining 44.96 per cent of its Netherlands-based unit Euroasia Telecommunications Holding for $100 million. It bought the stake from SCM Holdings Limited and made the announcement in a statement t


Rio Tinto to invest in Mongolia gold, copper mine

Mining firm Rio Tinto has pledged to invest at least $250 million to $300 million in the construction of the underground section of the massive Oyu Tolgoi copper and gold mine in Mongolia this year, Mongolia's prime minister said. The second phase of construction at the mine


Intertek gears up for increasing demand in food services

Intertek, a leading quality solutions provider to industries worldwide, is expecting the demand for its food services business to increase in the Gulf region during Ramadan. The increase reflects not only higher consumption during this period, but also stricter government regulat


OBG spotlight on infrastructure and transport projects

A report by UK-based publishing firm Oxford Business Group (OBG) seeks to map out the broad range of opportunities that Bahrain is offering investors, it was announced yesterday (June 29). ‘The Report: Bahrain 2016’ will pinpoint a raft of infrastructure, real estate


Mubadala buys into Trafigura's Spanish mines

Trading house Trafigura has sold half its stake in three Spanish copper and zinc mines to Abu Dhabi investment company Mubadala as part of a joint venture they are setting up to invest in base metals mining, the companies said. The deal marks yet another move by the Swiss oil-to-


Napco CEO wins top Aiwa award

Oman-based National Aluminium Products Company (Napco), one of the leading extruders of aluminium profiles in the GCC, announced that its CEO has been recognised for an award from Alam al-Iktisaad Wal A’mal (Aiwa), the sultanate’s leading Arabic business magazine published by United

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