Monday 25 June 2018

FedEx orders 24 Boeing medium, large freighters

Boeing and FedEx Express have announced a new order for 12 767 freighters and 12 777 freighters, reflecting the confidence of the world's largest air cargo carrier in the growing market. "We are taking another positive step in our fleet modernization program as we add mo


OHA, Varde to buy $1bn DB shipping loan portfolio

Oak Hill Advisors and Värde Partners said they have entered into an agreement to acquire a $1 billion portfolio of shipping loans from Deutsche Bank. The transaction is expected to close in the third quarter of 2018 pending regulatory approvals. Oak Hill Advisors is a leadin


Lamprell, Asyad Holding to set up Saudi JV company

UAE-based Lamprell, a major provider of fabrication, engineering and contracting services, said it will join hands with Asyad Holdings to set up a joint venture company in the kingdom as part of its regional expansion strategy. A key player in the kingdom, Asyad Holdings brings signi


MRO firms ‘to benefit from IIoT-enabled tech’

Maintenance, repair, and overhaul (MRO) companies will gain a valuable competitive advantage by leveraging IIoT-based technologies such as Big Data & Analytics, cloud infrastructure, and mobility, a report said. Industrial Internet of Things (IIoT)-assisted machinery are prov


Metito chairman gets IDA council seat

UAE-based Metito, a leader in providing total intelligent water management solutions in the emerging markets, said its chairman and CEO Mutaz Ghandour has been inducted into the council of International Desalination Association (IDA).   A non-profit association,


Flexenclosure builds data centre for CenturyLink in Ecuador

Internet infrastructure specialist Flexenclosure said it has completed construction of a data centre for global communications and IT provider CenturyLink in Ecuador.     Located in the Ecuadorian capital, Quito, CenturyLink will use the facility to ex


Ukraine inks deal for high-speed Hyperloop system

Hyperloop Transportation Technologies (HyperloopTT), a global leader in providing innovative solutions to the transportation industry, has signed an agreement with the Infrastructure Ministry of Ukraine to begin the process for a planned commercial Hyperloop system.   


UAE supply chain outlook ‘remains positive’

The UAE continued to retain its position in the ‘green category’ for its positive supply chain environment during the fourth quarter (Q4) of 2017, according to the latest CIPS Risk Index released by the Chartered Institute of Procurement & Supply (CIPS). The lates


KBR unit seals $900m US defence project contract

KBR, a major engineering, procurement and construction company, said its global government services business, KBRwyle, has been awarded a $900 million indefinite-delivery, indefinite-quantity (IDIQ) contract by the US Army Corps of Engineers Engineering Research and Development Center. 


Saudi Arabia, Russia to invest $2bn in tech projects

The Russian Direct Investment Fund (RDIF) together with partners from Saudi Arabia intend to invest $2 billion in technology projects in 2019, head of RDIF Kirill Dmitriev was quoted as saying in a media report. Cooperation aspects were recently discussed at a meeting with Crown

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