Monday 22 December 2014

Saudi plans $91bn spend to spur petchem sector

Saudi Arabia has earmarked $91 billion to be spent over the next 10 years to build new petrochemicals plants and expand existing ones as well as integrate refineries with petrochemical units, according to industry experts. In order to sustain this expansion, Saudi Arabia has crea


General Dynamics wins $498m US navy deal

The US Navy has awarded General Dynamics Corporation a contract valued at $498 million to build a fourth amphibious assault ship that will serve as a floating base for military operations, the US Defense Department said on Friday. The contract, which runs through March 2018, cove


High start-up costs delaying 3D printing growth

High start-up costs are a main factor in the delay of implementing 3D printing strategies to 60 per cent of organisations, a report said, noting that early adopters of the technology are finding clear benefits in multiple areas. While prototyping, product innovation and developme


D2M to showcase 3D printed molds at Arabplast

Dubai-based D2M Solutions, a top provider of design and manufacturing solutions, will 3D printed molds and plastic products at the upcoming Arabplast 2015, a leading plastics, petrochemicals and rubber trade fair. The event will be held from January 10 to 13, 2015 at Dubai World


Easy Taxi reaches 50 million rides

Easy Taxi, one of the largest taxi booking apps in the world, has completed 50 million rides since its launch across the dozens of countries where it operates, with more than $500 million of underlying estimated transaction value per year. Launched in 2011 in Brazil, Easy Taxi ha


Abraaj Group exits Tunisian bakery business

Abraaj Group, a leading investor operating in global growth markets, said it has successfully exited its investment in Moulin d’Or, a leading producer of baked goods in Tunisia, through one of its funds. Founded in 1990 as a small bakery specialising in packaged bread, Moul


Damen's Stan Patrol 3007 for Bahamas arrives at Gorinchem

The first Damen Stan Patrol 3007 has arrived at Damen Shipyards Gorinchem in the Netherlands for outfitting. The vessel is one of nine that the Royal Bahamas Defence Force ordered from Damen Shipyards, said a statement. The order features four Stan Patrol 4207 vess


Alba adds new compressor to boost energy efficiency

Aluminium Bahrain (Alba) has boosted its energy efficiency in aluminium production with the addition of a new air compressor to its existing fleet in the utilities wing of the power and utilities department, the company said. The new unit has been installed with an aim to cater t


UAE Hyundai dealer launches digital showroom

Juma Al Majid Group, the sole distributor of Hyundai Motors in the UAE, has launched the first fully digitalised car showroom in the Middle East. “Juma Al Majid Group has reinforced its commitment to the Hyundai brand by bringing future showrooms to the present to further o


Saudi, UAE claim 75pc of regional food retail market

While Saudi Arabia and the UAE together account for three-quarters of the food retail market in the region, a report said, highlighting opportunities for supply chain consolidation in the GCC food & beverage sector. The top five retailers account for around 13 per cent of the

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