Sunday 20 April 2014
 
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Saudi car coming: Firm wins preliminary licence

Saudi Arabia's Ministry of Commerce and Industry has given a preliminary license to a Saudi-Malaysian venture to study the feasibility of building a car manufacturing unit in the kingdom, a report said. The ministry said the company planning to set up a SR7.5 billion automoti

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Greenstone advises Oman joint venture deal

Greenstone Equity Partners, a Dubai-based investment and advisory firm, has advised Tri-Star Resources on the establishment of a joint venture company, Strategic & Precious Metals Processing (SPMP).   The JV will construct and operate a 20,000 tonne per annu

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Abraaj buys into Moroccan chocolate firm

The Abraaj Group, a leading investor operating in global growth markets, has announced the acquisition through one of its funds of a stake in Kool Food, a leading Moroccan chocolate confectionery manufacturer based in Casablanca. Kool Food was founded in 2010 by entrepreneur Anas

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Kanoo Machinery wins DP World vendor award

Kanoo Machinery, a member of the Kanoo Group received the DP World, UAE Region’s Top Vendor for 2013 during the awards ceremony held recently at Jebel Ali port, Dubai. This is the second consecutive year that Kanoo Machinery earned the top honour. DP World, U

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Alba receives students from US university

Aluminium Bahrain (Alba) recently welcomed a student delegation from Susquehanna University, Pennsylvania, US who visited Bahrain to know more about the kingdom and see first-hand the business of Alba. The team, comprising 25 students along with Dean of the Business School Marsha

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Sabic showcases steel products at Riyadh expo

Saudi Basic Industries Corp showcased its wide range of steel products for the building and construction sector at the Metal & Steel Saudi Arabia 2014 exhibition held recently in Riyadh.   The company's products on display included its portfolio of long

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Lite-Tech unveils energy-efficient LED lighting

Lite-Tech Industries, a subsidiary of Dubai Investments and a joint venture with Philips Lighting, is set to offer an entire range of energy-efficient LED lighting products and technology across the Middle East.   The company unveiled its LED li

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New bill on safety of light cargo vessels approved

A new law covering safety regulations for light cargo ships was approved yesterday by Bahrain's Shura Council.    Under existing law, Coastguards can only deal with ships below 150 tonnes while international maritime treaties do not come into force unti

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Ma'aden Q1 profit falls 48pc as metal prices drop

Saudi Arabian Mining Co (Ma'aden) blamed falling metal prices after it posted a 48 percent drop in first-quarter net profit on Monday. Ma'aden made a profit of 125.2 million riyals ($33.4 million) in the three months to March 31, down from 239.2 million riyals in the corr

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New system to cut border delays in UAE

A global customs transit system, which cuts the time trucks spend at borders from days to hours, is likely to be fully operational by the end of the year in the UAE, a statement said. This follows the signing of an agreement yesterday between Dubai Customs and the Automobile and

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