Thursday 31 July 2014

Adnoc, Khalid Faraaj team wins safety award

The 42 M Aluminium Crew Boats project team for Abu Dhabi National Of Company (Adnoc) and ship operators Khalid Faraaj has been awarded a health safety and environment award by Grandweld Shipyards. The evaluation for the award, which recognises maintenance of safe working and envi


US firm to provide Sadara security vehicle

Global Digital Solutions (GDSI), a leader in providing cyber arms manufacturing and complementary security and technology solutions, plans to ship  a high-end, mobile command and control vehicle to Sadara, a $20 billion petrochemical joint venture between Dow Chemical and Saudi Aramco.


UPS slashes forecast for earnings

United Parcel Service (UPS), the world's biggest courier company, slashed its earnings forecast for the year as it spends to boost capacity ahead of the holiday shopping season. The company also reported a bigger-than-expected decline in second-quarter profit, reported the Gu


Asry's rig division eyes opportunities

Ship and rig repair yard Asry's offshore rig repair division is preparing for a possible market surge, chief executive Nils Kristian Berge has said.   He highlighted the division's recent track record, particularly l


Alba posts net income of $86m in H1

Alba's total sales for the first six months of this year were BD376.4 million ($1.001 billion) versus $1.018 billion in the corresponding period last year, on the back of higher premium partially offset by lower LME prices.  


Iran detains four journalists, 3 US-Iranians

The Committee to Protect Journalists on Thursday called on the Iranian government to immediately release four detained journalists, three of whom it said had US-Iranian nationality.   Two of the detainees are Jason Rezaian,


Lighting industry majors focus on Middle East

More than 250 top players in the lighting industry will look to tap into the lucrative Middle East market at the ninth edition of Light Middle East, to be held in Dubai in November. The event will be taking place from November 3-5 at the Dubai International Convention and Exhibit


Aramex Q2 net profit up 12pc

Dubai logistics firm Aramex reported a 12 per cent rise in second-quarter net profit on Thursday, in-line with analyst estimates.   Aramex posted a second-quarter net profit of Dh80.8 million compared with Dh72.3 million in


Former Alba chief jailed for corruption

Former Alba chief executive Bruce Hall has been sentenced to 16 months in prison and ordered to pay £3 million ($5.1 million) by a British court.   Found guilty of conspiracy to corrupt in relation to contracts for the


Agthia profit surges 21pc in H1

Agthia Group, one of the UAE’s leading food and beverage groups, has reported a net profit of Dh104.5 million (28.45 million) for the first half of 2014, an increase of 21 percent year-on-year driven primarily by higher sales and an overall improvement in profit margin. Net sales increase

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