Thursday 15 November 2018

Gulf Capital sells 74pc stake of PET subsidiary

Gulf Capital, one of the largest and most active alternative asset managers in the Middle East, said that its portfolio company, Middle East Glass (MEG), successfully sold a 74 per cent stake in its PET subsidiary, Medco Plast for Packing and Wrapping Systems (Medco Plast). The s


Styro opens $19m new production unit

Styro, a leading expanded polystyrene (EPS) manufacturer in the Middle East, has opened a 40,000-sq- m production facility in Abu Dhabi, UAE, with an initial investment of Dh70 million ($19.05 million). The new facility will help meet a growing demand for Styro’s products a


GE presents plan to strengthen Lebanon’s power sector

GE, a global technology company, presented a comprehensive roadmap to support the 2010 Ministry of Energy and Water’s plan for the development of Lebanon’s power sector from the point of generation, to transmission, distribution and consumption at a seminar themed ‘Powering Le


Octal highlights logistics industry challenges at Oman event

Octal, a leading PET sheet producer and leading integrated packaging company, participated and debated the challenges within the logistics industry at the recently concluded IRU World Congress 2018, which was held in Oman. IRU World Congress is a global event for road transport,


GlassPoint, Oxy Oman in solar thermal energy plant deal

GlassPoint Solar and Occidental of Oman have signed a memorandum of understanding (MoU) that could lead to a large solar thermal energy plant, exceeding two gigawatts, at the Mukhaizna oilfield in Oman.    As the lead developer of the proposed project, Glas


Japanese investments in Abu Dhabi hit $1.6bn in 2017

The size of Japanese investments in Abu Dhabi reached approximately Dh6.1 billion ($1.66 billion) by end of 2017, while the number of trade licenses issued to Japanese investors in Abu Dhabi reached 32, a media report said. Similarly, the value of non-oil trade between Japan and


Johnson Controls to sell power business for $13.2bn

Johnson Controls International, a global diversified technology and multi industrial leader, said it would sell its power solutions business to investment firm Brookfield Business Partners in a cash transaction valued at $13.2 billion. "Today's announcement marks a signi


Public Establishment for Industrial Estates unveils new identity

The new brand identity of the Public Establishment for Industrial Estates was unveiled at its silver jubilee celebration yesterday (November 12) at the Grand Ballroom – Oman Convention and Exhibition Centre, in Oman. The brandmark of the Public Establishment for Industrial


Adnoc to advice Uzbekistan oil firm

The Abu Dhabi National Oil Company (Adnoc) today (November 13) signed a framework agreement with Uzbekneftegaz, a joint stock company of Uzbekistan's oil and gas industry, under which Adnoc will provide strategic advice in relation to upstream and downstream operations. The a


Emirates Steel showcases product range at Adipec

Abu Dhabi-based Emirates Steel, the only integrated steel plant in the UAE and a subsidiary of the General Holding Corporation (Senaat), is showcasing its steel product range, which is uniquely suited to meet the requirements of the oil and gas industry at the ongoing the Abu Dhabi Internationa

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