UAE-based engineering and construction group ALEC Holdings has recorded a 67.6% jump in its H1 revenue which rose to AED8.99 billion ($2.45 billion), helped by higher activity across its major projects, while profitability was hit by disruptions to energy services amid regional geopolitical tensions.
Procureship, a Greek e-procurement platform, has officially welcomed 100 deep-sea vessels from Stolt Tankers, one of the world’s leading chemical tanker operators, onto its e-procurement platform as part of its drive to further digitalise the day-to-day procurement operations for its global fleet.
Abu Dhabi National Oil Company has announced that one of its key units, ADNOC Gas has awarded engineering, procurement and construction (EPC) contracts worth $8.2 billion for the next phase of its Rich Gas Development (RGD) project at the Habshan complex in the UAE capital.
Voyager Interests and The Arab Energy Fund (TAEF) said a consortium including TAEF and Zamil Group Investment Company will make a strategic minority investment in CRTS Global, supporting the pipeline coating firm’s regional and international expansion.
Daikin Middle East & Africa, a global leader in heating, ventilation, air-conditioning and refrigeration (HVAC-R) solutions, has officially unveiled its newly renovated experience centre, at its regional headquarters in Jebel Ali, Dubai.
The Space 14 Estate has announced the launch of a new warehousing and commercial development in Dubai Investments Park 2. The project, which comprises two buildings and 14 individual warehouse units connected by a 9-m-wide internal access road, is set for handover next year.
Presight AI Holding, a global leader in AI and data analytics, has reported revenue growth of 36.1% for the second quarter, which soared to AED713.2 million ($194 million), while its profit after tax registered a 30.2% growth over last year despite a dynamic regional operating environment.
Oman-based United Solar welcomed the new US measures to strengthen its domestic polysilicon industry and improve the resilience of its semiconductor supply chain such as a $21-per-kg import price and price floors for polysilicon ingots and wafers, solar cells and solar modules.
Dubai South Business Hub Free Zone (DSBH) has entered into a strategic collaboration with DHL Express, a leading international express logistics provider, in a bid to build a thriving business ecosystem that enables entrepreneurs and small and medium-sized enterprises (SMEs) to grow, scale, and compete globally.
Silverwell, a provider of innovative gas lift solutions to the energy sector, has secured a multi-well contract from a top Middle East operator for the deployment of its Digital Intelligent Artificial Lift (DIAL) technology. The program spans key offshore assets such as the high-rate extended reach drilling (ERD) wells.
