Monday 25 July 2016

15,000 entrepreneurs, SMB owners to attend Sage Summit

More than 15,000 entrepreneurs and small and medium business (SMB) owners from around the world will attend the Sage Summit, a leading gathering of entrepreneurs and business builders, to be held tomorrow (July 25), in the US. The event organised by Sage, a market leader in cloud


Schneider Electric introduces InRow DX 600mm

Schneider Electric, a global specialist in energy management and automation, has introduced the second generation of the InRow DX (direct expansion) 600mm as the latest addition to the InRow product line. The InRow Direct Expansion product design closely couples the cooling with


Wilo to build facility in Jafza

Germany-based leading pump manufacturer Wilo has announced an investment to build a local facility in Jebel Ali Free Zone (Jafza), Dubai. The investment plan consists of constructing offices, a training centre, warehouses and local assembly plant over an 8,000 sq m plot of land,


CEO says Audi plans three electric car models by 2020

Audi aims to have three electric car models by 2020 and for electric vehicles to account for 25 to 30 per cent of its sales by 2025, chief executive Rupert Stadler told a German newspaper. Audi's electric cars push, reported by Reuters earlier this week, is part of a strategi


Duqm electricity demand expected to grow substantially

Electricity demand in Duqm, where one of the Middle East’s most ambitious industrial and economic hubs is currently under development, is anticipated to grow 10-fold to 650 megawatts (MW) by the year 2025, said a report. This compares with around 67 MW of diesel-based gener


Aluminium Bahrain Q2 net income down

Aluminium Bahrain (Alba), owner of one of the world's largest aluminium smelters, reported a 45.4 per cent fall in second-quarter net profit on Sunday. Alba's net income for the three months to the end of June was BD16.28 million ($43.2 million), compared with a profit of


Modon signs over 6,000 deals worth $160bn

The Saudi Industrial Property Authority (Modon) has signed more than 6,000 industrial, logistic and services contracts for investments worth more than SR600 billion ($160 billion), said a report. The deals are expected to provide jobs for more than 520,000 employees, added the Ar


Iran 'self-reliant' in petchem facilities construction

Iran, by raising the potential of its experts and technicians, has become self-sufficient in the construction of petrochemical facilities, said a senior official in a report. The country no longer has any need for foreign companies in this regard, managing director of Kavian Petr


UAE removes need for bank guarantees for SMEs

The UAE Ministry of Human Resources and Emiratisation has issued a new decree exempting small and medium-sized enterprises from bank guarantees, beginning October this year. The decree supports the initiation of fresh projects and classifies them within the ministry’s first


G20 officials vow to tackle steel, industrial overcapacity

The world's top economies will work to tackle excess production capacity in steel and some other industries, including government subsidies that have distorted markets, G20 finance officials said on Saturday. In a draft statement obtained by Reuters, the G20 finance ministers

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