Monday 30 March 2015

Almarai plans $400m Egypt expansion

Saudi Arabia-based Almarai, one of the largest dairy food company in the world, is planning to invest $400 million in order to expand its current projects in Egypt, a report said. Almarai is also studying the possibility of acquiring other food and agriculture companies, said the


China, Kazakhstan sign $23.6 billion in deals

China and Kazakhstan have signed 33 deals worth $23.6 billion covering areas from hydropower to steel, state news agency Xinhua said. The agreements were reached during a visit by Kazakhstan Prime Minister Karim Masimov to China after a meeting with Chinese Premier Li Keqiang, st


Dow Chemical to sell chlorine assets in $5bn deal

Dow Chemical Company will separate a portion of its century-old chlorine business and sell it to Olin Corp in a tax-efficient deal worth $5 billion as part of efforts to shed low-margin assets. The deal will make smaller rival Olin the world's largest producer of chlor-alkali


Demand for HVAC equipment to reach $20.4bn

The demand for heating, ventilating, and air conditioning (HVAC) equipment in the US is forecast to increase 6.8 per cent annually through 2019 to $20.4 billion, recording gains over twice the rate of the 2009-2014 period, according to a new study. The new study ‘HVAC Equip


Panasonic eyes $8bn spending on acquisitions

Japanese electronics supplier Panasonic said it was ready to spend one trillion yen ($8.4 billion) on acquisitions over the next four years, emboldened by a stronger profit outlook for its automotive and housing technology businesses. Chief executive Kazuhiro Tsuga said at a brie


Saudi's Safco urea plant start-up delayed till May

The start-up of a new urea plant owned by Saudi Arabia Fertilizers Company (Safco) will be delayed to mid-May this year, the company said on Thursday. Safco did not give a reason for the delay of the facility known as Safco 5, but the firm -- a unit of Saudi Basic Industries Corp


Alba honours 250 staff for long-service

Aluminium Bahrain (Alba), one of the leading employers in Bahrain, honoured more than 250 workers celebrating 10 years of service with the company at a ‘Long Service Award’ ceremony today (March 26). The awardees were presented with individual gifts and certificates t


Yemen shuts major sea ports

Yemen shut its major seaports on Thursday, industry and local sources said, after neighbouring Saudi Arabia and Arab allies struck the Iran-allied Houthi forces who have been fighting Yemen's Western-backed president. "All major seaports were shut down on Thursday due to


Top cargo conference to take place in Abu Dhabi

WCA, a leading network of independent freight forwarders with over 5,700 member offices based in 191 countries around the world, is set to host its annual conference in Abu Dhabi next year. The WCA Global Conference will be held from March 10 to 16 at the Abu Dhabi National Exhib


Mitsui acquires stake in Turkish packaging firm

Mitsui & Co has taken a 15 per cent stake in unlisted Turkish packaging firm Sarten, as the Japanese trading house looks to take advantage of Turkey's economic growth and proximity to Europe and the Middle East. Saddled with a moribund economy and an ageing population at

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