Saturday 28 March 2015

$9.09m worth agreements for logistic area signed

Oman Logistics Company signed two agreements worth RO3.5 million ($9.09 million) for the development of the South Batinah Logistics Area with Alisco Strong Plant Trad & Cont and F&M Engeria. The agreements were signed by Eng Ahmed bin Hassan al Dheeb, undersecretary in th


Automechanika expands to Saudi Arabia

Automechanika, a leading international automotive trade show brand, has announced its expansion into Saudi Arabia, as it looks to boost direct access to one of the world’s most lucrative countries for the automotive aftermarket. Automechanika Jeddah will take place from Jan


Top industry executives discuss agenda for WGCParis2015

Senior international gas industry executives recently gathered in the UAE for a series of high-level meetings that will help set the agenda for the year's most prestigious energy event, the 26th World Gas Conference (WGCParis2015), which will take place in Paris, France. The


Ma'aden shuts down ammonia plant

Saudi Arabian Mining Company (Ma'aden) said on Tuesday that a subsidiary had been forced to shut down an ammonia plant in the east of the kingdom so that unscheduled maintenance could take place on its cooling facility. The company said in a bourse filing that the shutdown at


Gulf Marine Services profit up

Gulf Marine Services posted a 9 per cent rise in full-year profit, helped by strong demand for its jackup barges. The oilfield services company, which builds and operates self-propelled, self-elevating jackup barges for the oil and gas industry, said net profit rose to $75.6 mill


Al Rawabi announces 15pc sales growth

Al Rawabi, a leading dairy establishment in the UAE, has announced a 15 per cent rise in its sales in the first quarter of 2015. The announcement came during a special event that was hosted at the company’s headquarters in Al Khawaneej in Dubai, UAE, said a statement.


Egypt steel group plans $200m investments

Solb Misr, a leading Egypt-based steel group, will invest around EGP1.6 billion ($200 million) in projects that it is currently developing, said the company chairman. The investment plan will last till 2017, Gamal El-Garhy, was quoted as saying in a Daily News Egypt repo


Chinese factory activity hits 11-month low

Activity in China's factory sector dipped to a 11-month low in March as new orders shrank, a private survey showed, signalling persistent weakness in the world's second-largest economy that will likely fuel calls for more policy easing to support growth. The poor reading


Asry re-elects chairman, inducts new board members

Shaikh Daij bin Salman Al Khalifa has been re-elected chairman of the board of directors of Arab Shipbuilding and Repair Yard (Asry) and new board members have been inducted. Shaikh Daij, the representative of Bahrain, chaired the 139th board meeting of the company, which saw rat


Saudi's petchem firm resumes production

Saudi Arabia's Advanced Petrochemical said on Monday it had restarted production at its propylene and polypropylene plants after scheduled maintenance. Full operational capacity at the two plants would be achieved in 8-10 days, it said in a bourse filing. No de

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