Thursday 5 May 2016

Liberty House to submit bid for Tata Steel UK

Metals group Liberty House will submit a letter of intent to buy the British assets of Tata Steel on Tuesday, a spokeswoman said, in the first concrete bid since the Indian conglomerate put the business up for sale, threatening thousands of jobs. India's Tata group announced


Samsonite to acquire luxury brand Tumi for $1.8bn

Samsonite, the world’s leading travel luggage brand, has announced plans to acquire luxury brand Tumi for $1.8 billion. The acquisition is expected to significantly expand Samsonite’s presence in the premium business and luggage segment by leveraging Tumi’s best


UAE, Jordan take part in São Paulo trade fair

The Arab-Brazilian Chamber of Commerce (ABCC) has facilitated the participation of leading companies from the UAE, Jordan, and Tunisia at the ongoing São Paulo Supermarkets Association Fair (Apas Fair) in Brazil. The event which kicked off on May 2, will run until May 5, a


Unigulf to showcase Easy PID System

Unigulf Industries, a leading player in the heating, ventilation and air-conditioning (HVAC) pre-insulated duct (PID) systems, will debut its Easy PID System at the Sodex 2016, to be held tomorrow (May 4), in Istanbul, Turkey. The event, an international HVAC, refrigeration, pump


Julphar sales total $400m in 2015

Ras Al Khaimah-based Julphar (Gulf Pharmaceutical Industries) recorded sales totalling Dh1.47 billion ($400.11 million) in 2015, an increase of 6 per cent compared to the previous year, it was revealed at the company’s general assembly recently. The company’s gross pr


Gulf Capital buys 100pc stake in Multibrands

Gulf Capital, a leading alternative investment firm in the Middle East, has acquired 100 per cent of Multibrands Trading, a top F&B distributor in Saudi Arabia, with an annual turnover in excess of $100 million. Founded in 2006, Multibrands operates in the food and beverage s


Italian terminal’s top officials to visit Asian cargo hubs

Senior executives from Italy’s La Spezia Container Terminal are set to return to Asia to highlight its La Spezia Homeport as the gateway to Italy and the markets of South and Central Europe in key East Asian cargo hubs. The events in China and South Korea in May follow on f


Iran, South Korea to triple trade volume to $18bn

Iran and South Korea are planning to triple their annual trade volume to $18 billion, Iran’s President Hassan Rouhani announced recently following the meeting with his South Korean counterpart Park Geun-Hye. The two sides decided to increase the current trade volume of arou


Karcher posts double-digit Mideast growth

Karcher, a world leader in innovative cleaning technology solutions, has recorded double-digit sales growth in the Middle East region in 2015, despite difficult market conditions, mainly through expansion of its products and services into various other industries. The company, wh


Total aims to set up solar joint venture in Qatar

Total, global, integrated energy producer and provider, is studying the prospects of establishing a solar business in Qatar, the company’s chairman and CEO said. “We understand that Qatar Petroleum is establishing a new company in association with Qatar Electricity an

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