Tuesday 19 March 2024
 
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Alba, EGA sign technology service deal for Reduction Line 6

Aluminium Bahrain (Alba), one of the world’s largest aluminium smelters, and Emirates Global Aluminium (EGA), the largest industrial company in the UAE outside oil and gas, have inked a technology services agreement for Alba’s Reduction Line 6.   

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GCC growth dampened by oil cuts but KSA, UAE stand strong

Facing a slowdown in 2024 owing to oil cuts, the GCC growth forecast has been revised down to 2.7% from 3.9% three months ago, while non-energy sectors are expected to drive growth in KSA and the UAE.    The latest Economic Insight report for the Middle Eas

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DMCC welcomes 2,692 new companies to Dubai in 2023

Dubai Multi Commodities Centre (DMCC) has enrolled 2,692 new companies last year, taking the total number of companies in DMCC to over 24,000.   In its 2023 Annual Report, DMCC confirmed that 2023 was its second-best year on record as companies continue to flock

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Gulf Marine Services wins 4-year contract for its vessel

Gulf Marine Services (GMS), a leading provider of self-propelled support vessels for the offshore oil, gas and renewables sectors, has signed the first of a two phase, four-year, contract for one of its vessels in the Middle East.   The company has also received

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First Mills posts $58.7m net, profit margin of 22.8pc in FY 2023

First Milling Company, a market-leading Saudi milling firm, has seen its FY 2023 net profit rise 1.25% to SR220.2 million ($58.7 million) and register net profit margin of 22.8% in FY 2023 and 23.3% in Q4 2023, driven by strong growth in flour sales.   Excl

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JCB rolls out new models of 'world-beating' backhoe loaders, excavators

JCB has launched the updated version of its popular 3CX range of backhoe loaders and new heavy-duty excavators in the Middle East market at a key event in Dubai this month. The revised range includes the 3CX, 3CX Plus and the 3CX PRO models.    Speaking at

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World air cargo ‘tonnages up 13pc’ in first two months of 2024

Worldwide air cargo demand was up by 13% in the first two months of this year, compared with the equivalent period last year, with demand continuing to surge from Middle East & South Asia (MESA) origins. Tonnages also recovered from the normal Lunar New Year (LNY) seasonal dip, analysis b

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Karwa Motors to assemble 5,000 school buses in Oman

Karwa Motors (Oman) has signed an agreement with Oman’s Ministry of Education and the Oman Development Bank (ODB) to assemble and supply  5,000 school buses with the highest safety and security standards.   The agreement marks the beginning of a new e

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Ceer awards $1.3bn construction contract for Saudi EV complex

Saudi Arabia’s first electric vehicle brand and original equipment manufacturer (OEM) Ceer has awarded a SAR5-billion ($1.3 billion) contract to Modern Building Leaders (MBL) for the construction of its new manufacturing complex within King Abdullah Economic City.  &nb

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Aramex bolsters Saudi presence with new regional HQ

Aramex, a leading global logistics and transportation company, has strengthened its presence in Saudi Arabia with the inauguration of a new regional office in Riyadh.   The opening of the new regional office will not only significantly enhance Aramex's capab

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