Dubai Investments has reported a 28% increase in the net profit attributable to shareholders for the first half which soared to AED642.4 million ($175 million) driven by strong performance across the Group's core business segments led by real estate and manufacturing sectors.
Oman's Public Establishment for Industrial Estates (Madayn) has announced that its Ibri Industrial City has secured RO25 million ($65 million) in investments during the first half through 17 agreements spanning over 250,000 sq m for projects in oil and gas, manufacturing and light industry.
Shyam Middle East FZC, part of India's Shyam Steel Group, has inaugurated its new manufacturing facility in Hamriyah Free Zone, Sharjah, with an initial investment of AED60 million ($16.34 million).
Saudi food and beverage manufacturing major Almarai has recorded solid results for Q2 despite the shipping woes and regional pressures. Its revenue surged 11% y-o-y to hit SAR5.87 billion ($1.54 billion) driven by resilient supply chain and robust demand across its core sectors.
Future Fund Oman (FFO), a portfolio of the sultanate's sovereign wealth fund Oman Investment Authority (OIA), has announced a new package of 105 strategic projects and investments worth $1.74 billion, spanning renewable energy, manufacturing and tourism industries.
Lubrizol, a Berkshire Hathaway company, has joined forces with Indian group Grasim Industries for the opening of a world-class chlorinated polyvinyl chloride (CPVC) resin manufacturing facility in Gujarat. The new plant will cater to the industrial piping needs as well as HVAC industries.
TKE Alat, a joint venture between TK Elevator (formerly known as ThyssenKrupp Elevator), and Alat, a Saudi Arabian manufacturing company, have announced the groundbreaking of its planned elevator and escalator manufacturing and multi-purpose facility at Dammam's Third Industrial City.
Attracting international capital into advanced manufacturing is central to the UAE's long-term economic vision, said Mohamed Hassan Alsuwaidi, UAE Minister of Investment.
China's factory activity stalled in May, signalling continued pressure on the sector from weak domestic demand and rising production costs, an official survey showed on Sunday.
Shyam Middle East Resources, a part of India’s renowned Shyam Steel Group, is set to establish a non-ferrous metals processing and manufacturing facility at Al Ghail Industrial Zone in Ras Al Khaimah Economic Zone. The project marks a significant step in the group’s global expansion strategy.
