Regional News
March 2014

ALUMINIUM Bahrain (Alba) has announced it posted a net income of $212 million (BD79.8 million) for 2013 and increased the year’s total dividend by 28 per cent to $135 million.






March 2014

FIRST Bahrain’s Majaal Warehouse Company has signed a tenancy deal with a Bahraini-Saudi joint venture and announced it is close to signing another agreement.






March 2014

ASRY announced it recently completed a conversion job and accomplished repairs to several vessels. Zamil Offshore Services (Saudi Arabia)’s AHT vessel Zamil 502 was converted to a field commissionary supply vessel. The work included full design, study and analysis done by its Asry Consultancy Services division.






March 2014

HEMPEL Paints formally opened in Jeddah, Saudi Arabia, its largest decorative paints factory in the Middle East built at a cost of SR100 million ($26.66 million). The plant, its first 100 per cent water-based paints factory in the Middle East, has annual production capacity of 32 million litres and occupies an area of 7,500 sq m.






March 2014

QUALITY Control Services (QCS), a leading non-destructive testing (NDT) company in the Gulf, reported strong business activity over the past year and is poised to introduce digital radiography technology to the Saudi market. Chief Executive Officer Dr.






March 2014

OMAN Drydock Company (ODC) marked its 200th drydocking at Duqm, 450 km south of Muscat in the Sultanate’s Wosta region. ODC, which cost $1.5 billion to build, held a ceremony at the shipyard to celebrate the landmark with shipping giant Maersk whose vessel, the 4,388 teu Maersk Wisconsin, was the 200th ship to be drydocked.






March 2014

PETROCHEMICALS and metals company Industries Qatar (IQ) posted a 6 per cent drop in fourth-quarter net profit, citing lower global fertiliser prices, but boosted its dividend payout. The Gulf’s second-largest chemical producer by market value, behind Saudi Basic Industries Corporation (Sabic), made a net profit of QR1.






March 2014

QATAR Development Bank (QDB), through its export arm Tasdeer, supported the participation of seven leading Qatari companies in the energy and electricity sector at the Middle East Electricity Exhibition in Dubai. This is QDB’s second consecutive year helping Qatari companies participate in the event.






March 2014

Big surge in QPIC profit QURAIN Petrochemical Industries Company (QPIC) has registered a KD9 million ($32 million) net profit for the nine month period ending December 31, 2013 compared with KD4 million the year before. This reflected an increase of 143 per cent over the previous year.






March 2014

Bahrain’s Asry, the ship and rig repair yard, has signed a deal with Solas Marine Services Group enabling the latter to build a 2,000 sq m service centre on its premises.






Tags