Monday 20 May 2019

Regional stability key for oil supplies: Opec chief

The region needs more peace and stability to ensure the flow of oil supplies, said Mohammad Sanusi Barkindo, secretary general of the Organisation of the Petroleum Exporting Countries (Opec). Barkindo noted that any tension that occurs in the region affects the whole world, repor


ITFC hosts 1,320 bilateral meetings through 'bridges' programme

The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group (IsDB), reported a total of 1,320 bilateral meetings and 200 deals under discussion through its flagship programme: the Arab Africa Trade Bridges Program (AATB). The deals w


Fujairah Ruler stresses on boosting Port of Fujairah operations

The importance of boosting the Port of Fujairah's operations and enhancing its capabilities as part of UAE’s transformational development drive was recently highlighted by HH Sheikh Hamad bin Mohammed Al Sharqi, Supreme Council Member and Ruler of Fujairah, said a report.


Schneider Electric, Aster evolve partnership

Schneider Electric and Aster, a venture capital firm, have agreed to change their partnership in order to accommodate the recent launch of Schneider Electric Ventures by the former. Aster will now become a 100 per cent fully independent company owned by its management team. This


Oman Fisheries welcomes clamp on illegal fishing

Oman Fisheries Company (OFC), which is partly owned by the Omani government, has welcomed efforts by the authorities to crack down on “illegal foreign fishermen”, said a report. OFC claimed that the illegal fishing contributed to a significant decline in its earnings


OOMCO to set up bunker terminal at Duqm Port

Oman Oil Marketing Company (OOMCO) has secured its board's approval for the construction of an in-port bunker terminal at the Port of Duqm on the sultanate’s Al Wusta coast, said a report. The board’s green-light was received for 30,000 cu m of tankage capacity to


Bahrain minister meets Yoko Steel senior officials

Bahrain’s Electricity and Water Affairs Minister Dr Abdulhussain Mirza recently received senior officials from Yoko Steel Company and discussed the company’s activities in recycling iron waste and converting it into usable products, said a report. Mirza received Yoko


DMCC signs trade agreement with China Gems and Jade Exchange

DMCC, the world’s leading Free Zone for commodities trade and enterprise, has signed a memorandum of understanding (MoU) with the China Gems and Jade Exchange (CGJE), creating a strategic alliance with China’s official trading platform for gemstones and jade. Feryal A


Alba achieves major safety milestone in April

Aluminium Bahrain Alba), one of the largest aluminium producers in the world, has announced that it had achieved a major safety milestone clocking 5 million working-hours without Lost Time Injury (LTI) on  April 30. One of the 1 million-metric tonnes smelters in the world, A


Lanxess Q1 EBITDA up 1.9pc to $308.9m

Specialty chemicals company Lanxess reported that its EBITDA pre-exceptionals rose by 1.9 per cent to €275 million ($308.9 million) in the first quarter of 2019, compared to €270 million ($303.3 million) in the same period in the previous year. The main reasons for this

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