Saturday 2 July 2022

Kamco plays key role in Qurain Petrochemical's ATC acquisition deal

Kamco Invest, a regional non-banking financial powerhouse, acted as the Partial Purchase Offer Manager to Qurain Petrochemical Industries Company (QPIC) in purchasing a key stake in leading Kuwaiti group Advanced Technology Company (ATC).    A major distrib


Bahrain economy set for 3pc growth on key reforms, high oil

Bahrain’s economic activity is set for a moderate rebound in 2022 and the fiscal and external positions will improve considerably in the near-term and over the medium-term, growth is set to stabilize at 3%, according to a review by International Monetary Fund (IMF).  &


AD Ports to buy majority stake in Egyptian maritime companies

Abu Dhabi-based AD Ports Group has announced that it has reached an agreement to acquire a 70% equity stake in International Associated Cargo Carrier BV, which wholly owns two Egypt-based maritime companies, Transmar International Shipping Company and Transcargo International (TCI).


Mawani partners with Chinese group to build quay cranes at Dammam

Saudi Ports Authority (Mawani) has announced that it has reached an agreement with Saudi Global Ports and Shanghai Zhenhua Heavy Industries Company to manufacture three state of the art quay cranes for the King Abdulaziz Port in Dammam.   The King Abdulaziz Port


Saudi PIF launches new aircraft leasing company

The Public Investment Fund (PIF), the sovereign wealth fund of Saudi Arabia, has announced the launch of the  'AviLease', an aircraft leasing company which aims to be a leading institution across the aviation leasing value chain, maintaining an optimal portfolio of assets with it


Schneider Electric launches inaugural sustainability awards

Schneider Electric, a leader in the digital transformation of energy management and automation, has announced the launch of the inaugural Schneider Electric Sustainability Impact Awards to recognize the critical role that Schneider’s partners play in delivering a more resilient and sust


60pc businesses in UAE and KSA lack ESG framework: survey

Some 60% of businesses in the UAE and the Kingdom of Saudi Arabia (KSA) do not have a framework governing their environment, social and governance (ESG) standards. Around half of those who do are not sure their employees fully understand it.    These were t


SCCI and EDB explore developmental solutions for investors

The Sharjah Chamber of Commerce and Industry (SCCI) and Emirates Development Bank (EDB) have explored a number of flexible development solutions for investors as well as small and medium enterprises (SMEs).   In the presence of more than 40 representatives from


New plan to double Abu Dhabi manufacturing sector to $47bn

Abu Dhabi Government has announced plans to invest AED10 billion ($2.72 billion) across six transformational programmes to more than double the size of Abu Dhabi’s manufacturing sector to AED172 billion ($46.83 billion) by 2031 by increasing access


UAE businesses to invest $2.76bn in India’s Odisha state

UAE investors have signed Memoranda of Understanding (MoUs) worth $2.76 billion (Rs218 billion/ Rs21,800 crores) with the Government of Odisha state, after meeting with the state Chief Minister Naveen Patnaik in Dubai.   The investment by UAE business houses is

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