Wednesday 22 October 2014

Saudi Safco Q3 net profit up 24pc

Saudi Arabia Fertilizers Company (Safco) reported a 24.4 per cent rise in third-quarter net profit on Sunday, beating analysts' forecasts and ending a sustained profit slump as sales prices and sales volumes increased. The company, a unit of Saudi Basic Industries Corporation


Water-defying rations cooker fuel to be unveiled at event

An all-weather solid flammable biofuel for ration cookers called ‘FireDragon’ from BCB International Ltd, which can be ignited even when wet is set to be launched at this year’s international security event, Milipol, at the Doha Exhibition Centre, Qatar. The eve


Embraer makes first metal cut for E-jets E2

Embraer has made the first metal cut of the E-jets E2, second generation of the E-Jets family of commercial jets at its Evora plant in Portugal. The part is the wing stub forward pressure bulkhead of the first prototype of the E-190-E2 jet, which is scheduled for first flight in


GE to showcase ethylene technology at Bahrain expo

GE Oil & Gas is showcasing its advanced technologies to maximize the production efficiency of ethylene at an upcoming conference and exhibition in Bahrain. Ethylene Middle East Technology Conference & Exhibition 2014 will run from October 19 to 21 at Gulf Hotel.


DWC to host major Ikea distribution centre

Dubai World Central (DWC), the world’s first purpose-built aerotropolis, will host the regional distribution centre of Ikea Group, the world’s largest furnishing company. Ikea’s distribution centre, one of the largest logistics projects in Dubai, will be located


Elfab sales growing in GCC

Elfab, a UK-based manufacturer of pressure relief systems, said sales have been growing in the GCC and are set to increase significantly following the recent appointment of a sales agent for Kuwait and Bahrain. Elfab manufactures rupture discs, explosion vents and associated dete


RWI enters deal with Bahwan Engineering

Rubber World Industries (RWI), a leading manufacturer of closed-cell rubber insulation 'Gulf-O-Flex' in the Gulf and South East Asia, has signed an agreement with Oman's Bahwan Engineering Company (BEC) to use RWI's products in its projects. BEC is a leading engin


India delays decision on Posco's $12bn steel plant

The Indian government has again delayed a decision on permitting Posco to mine iron ore, seeking more clarifications from Odisha where the South Korean company has waited nine years to set up a $12 billion steel plant. Former Prime Minister Manmohan Singh said in January Posco


GE nets higher profit as cost cuts lift margins

General Electric Company has reported a slightly higher-than-expected quarterly profit, with cost cuts that helped boost margins across its industrial businesses offsetting revenue that missed analysts' targets. Shares of GE rose 3.4 per cent to $25.07 as the US conglomerate


Oman's Sohar port competing for traffic with Gulf rivals

An advertisement by the highway outside Dubai's massive Jebel Ali Port tells firms they don't need to ship goods through the Strait of Hormuz, the traditional gateway to the Gulf. Instead they can have goods delivered to a port in Oman, outside the Gulf, and bring them into the region b

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