Friday 28 August 2015

ACWA, Mitsui group secure financing for Oman power plant

A consortium including ACWA Power and Japan's Mitsui & Co has secured financing for the $630 million Salalah 2 power scheme in Oman, the Saudi Arabian company said on Thursday. The pair, along with local partner Dhofar International Development and Investment Holding, won


Exporters run for high ground as China growth story unravels

The alarming scale of China's economic slowdown is pushing European exporters to accelerate a move into premium goods and services, sacrificing volumes if necessary to sustain margins. As Chinese rivals gain expertise in areas from elevators to healthcare to sweeteners while


Sabic distributes 60,000 school bags in Saudi

Saudi Basic Industries Corporation (Sabic) distributed 60,000 school bags in Saudi Arabia through 128 charities under its annual 'Back to School' programme for the academic year 2015-16.   A ceremony to mark the successful conclusion of the programme was


Smart solar palm trees spring up in Dubai

A new species of palm tree has started sprouting around Dubai. But instead of producing dates, the fronds of the Smart Palm harness the sun's energy to allow people to look up city information, access Wi-Fi, and charge their phones, all for free. Topped with nine leaf-shaped


Cortec unveils new brochure on VpCI technology

Cortec, a leader in environmentally friendly VpCI corrosion protection, has published a brand new brochure delivering information on its latest-technology products and services in the field of marine and shipbuilding industries.    It is well known that cor


RATP Dev appoints new director for Asia, ME

RATP Dev,  a subsidiary of French state-owned public transport operator RATP Group, has appointed Olivier Badard as its director of the Asia and Middle East business unit from September 1.   He will be based in Dubai and serve on the executive committee, wh


Three top banks to back Saudi trade finance event

Riyad Bank, Banque Saudi Fransi and Saudi Hollandi Bank, three of the Middle East’s leading banks, have been announced as the Platinum Sponsors of the 3rd Annual Saudi Trade Finance Summit 2015, a leading trade finance event to be held in November, in Riyadh. The event will


Software AG unveils smart logistics blueprint

Software AG has unveiled a Smart Logistics blueprint for its Digital Business Platform, which combines capabilities to digitise, analyse and monetise assets by enabling cutting edge digital applications. The Smart Logistics blueprint overlays the Digital Business Platform with sm


DP World profit jumps; eyes Iran port ops

DP World may launch operations in Iran, the company's chairman said on Thursday, as the global ports operator reported a jump in half-year earnings after buying assets from its parent company. Customer demand will dictate what it will spend on developing port facilities on th


DP World H1 profit up 22pc

DP World, the Dubai-based global shipping terminal operator, has reported a 21.9 per cent rise in net profit for the first half of the year, in comparison to the same period in 2014. The acquisition of logistics infrastructure firm Economic Zone World (EZW) played a significant r

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