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Almarai posts solid growth in Q1; revenue soars to $1.43bnLeading Saudi food conglomerate Almarai has registered a robust growth in its net profits which soared to SAR692.22 million ($184.52 million) in the first quarter (Q1) of 2024, up 9% from SAR635.05 million ($169.28 million) in Q1-23. Revenues increased by 7.73 More… |
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Dewa launches new edition of technical infrastructure manualDubai Electricity and Water Authority (Dewa) has launched the second edition of its Infrastructure NOC (No-Objection Certificate) Technical Manual - a key reference for contractors, consultants and developers accredited by Dewa. This manual h More… |
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Waja to set up new plant in Egypt for e-car productionSaudi-based Waja Company has announced plans to join hands with the Arab Organisation for Industrialisation in the Republic of Egypt, to set up a new venture that will produce and manufacture electric cars in Egypt. A leading Saudi business group with interest More… |
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Ducab Metals Business strengthens global position with GIC Magnet acquisitionDucab Metals Business (DMB), a leading supplier of high-quality copper and aluminium solutions, has announced the strategic acquisition of GIC Magnet as part of its ongoing efforts to expand its product portfolio and global market presence. This acquisit More… |
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GFH Partners names Nabeel Kanoo to company boardGFH Partners, a subsidiary of Bahrain-based GFH Financial Group, has announced the appointment of Nabeel Kanoo to its Board of Directors with immediate effect. Kanoo brings more than three decades of diverse business experience to the Board. He is curren More… |
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GE Vernova, Sonelgaz to boost Algerian grid infrastructureGE Vernova's Grid Solutions business, a leader in advanced grid technologies, and Sonelgaz, Algeria's national electricity and gas company, are expanding existing capabilities at GE Algeria Turbines (GEAT) for the deployment of grid solutions. GE More… |
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Global economic growth set to slow to 2.6pc in 2024: UNCTADUN Trade and Development (UNCTAD) forecasts global economic growth to slow to 2.6% in 2024, just above the 2.5% threshold commonly associated with a recession. This marks the third consecutive year of growth below the pre-pandemic rate, which averaged 3.2% bet More… |
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Abu Dhabi summit sets out roadmap to future fuels economyAbu Dhabi Future Energy Company (Masdar) has hailed the conclusion of a highly successful Green Hydrogen Summit focused on accelerating the development of the global green hydrogen economy and supporting the energy transition. Under the theme, Building the Hyd More… |
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RAK to showcase business set-up solutions at German eventRas Al Khaimah Economic Zone (Rakez) is set to participate in Hannover Messe, one of the world’s largest manufacturing industry trade fairs, taking place from April 22-26, 2024, in Germany. The participation, Rakez said, underscored its strategic focus on the German market and th More… |
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AD Ports Group signs deal with Adnoc DistributionAD Ports Group, the leading facilitator of global trade, logistics, and industry, has announced that its Ports Cluster is expanding its business remit to the global distribution of marine lubricants. The announcement came following a strategic agreement inked More… |
