Regional News
September 2014

KUWAIT’S nominal GDP rose to KD49.8 billion ($175.4 billion) in 2013, a growth of 2.3 per cent over the previous year, thanks to the non-oil sector that grew a robust 10.6 per cent, according to national accounts data.






September 2014

SAUDI Arabia is fast tracking exploration of mineral resources in a bid to have a strong mining industry, industry leaders say.






September 2014

DRYDOCKS World, the international service provider to the shipping, maritime, offshore, oil, gas and energy sectors, has successfully completed turret modules 1& 2 for the world’s largest floating liquefied natural gas (FLNG) facility.






September 2014

ASRY has reported it has completed jobs for new customers who called in for repairs. “Recent ship repair completions at Asry demonstrated the yard’s ability to attract new customers, but also keep them coming back,” it said in a statement.






September 2014

ASRY, the leading ship and rig repair yard in the Arabian Gulf, has agreed a Build-Operate-Transfer contract for the completion and upgrading of a reverse osmosis sea water desalination plant. The agreement, which has an estimated $8.6 million budget and April 2015 operational target, was signed recently at Asry by all concerned parties.






September 2014

WITH high precision and in the most difficult conditions, specialists from Bosch Rexroth are able to hoist ships weighing many tonnes out of the Arabian Gulf in Dubai. Specialised technology provides protection from sand, seawater, and high air humidity, as high-precision drive mechanisms distribute the ships among more than 40 mooring areas.






September 2014

ALUMINIUM Bahrain (Alba) has further enhanced its cache of international awards following announcements recently it has been honoured with two prestigious international prizes, one for environmental best practice and the other for occupational health and safety. The former accolade is part of the International Green Apple Awards 2014.






September 2014

THE number of active mobile subscriptions in the UAE reached more than 16 million by the end of 2013 with a penetration rate of 192.9 per cent, representing one of the highest mobile penetration rates in the world, a report said. Revenues generated from mobile services has been progressively increasing and rose by 6.






September 2014

THE Gulf is on the threshold of a big surge in investments in the aluminium sector, aluminium market analyst Harbor Intelligence says. Harbor forecasts that investments will rise from $30 billion in 2011 to $55 billion in 2020 because of smelter expansions and new projects.






September 2014

SAINT-GOBAIN PAM has signed two contracts with Qatar’s Al Jaber Engineering worth a total of €200 million ($268 million) for the supply of large-diameter pipes, fittings and valves. The products will be mainly manufactured in France, a StockMarketWire.com report said.






September 2014

KUWAIT Food Company (Americana) has said it has no knowledge of any talks with Saudi Arabia’s Savola Group on a possible acquisition of Americana, reports Reuters.






September 2014

BRITISH construction firms have won infrastructure contracts worth £1 billion ($1.65 billion) including roads and drainage network besides hotel and museum projects linked to the World Cup 2022 in Qatar.






September 2014

SIPCHEM announced the start-up of the ethylene vinyl acetate (EVA) and low density polyethylene plant owned by International Polymers Company (one of Sipchem affiliates) in Jubail Industrial City. The plant will produce 200,000 tonnes per year of EVA and low-density polyethylene (LDPE).






September 2014

RAYSUT Cement Group of Oman has seen its first-half  pre-tax profits rise 6.7 per cent to RO17.48 million ($46 million) compared with the same period of 2013, media reports said.






September 2014

BAE Systems has signed a five-year agreement with Emirates, the world’s largest Boeing 777 operator, to provide maintenance and technical support for its entire Boeing fleet.






September 2014

DUBAI Investments (DI), listed on the Dubai Financial Market (DFM), has announced a 2014 half-year net profit of Dh805 million ($219.19 million), up 118 per cent compared to the same period in 2013. The consolidated total income was Dh1.8 billion compared to Dh1.3 billion for the same periods under review.






September 2014

A NATIONAL Commercial Bank report says the Saudi petrochemical sector is well-established and driven by a positive demand outlook globally.






September 2014

Batista shares for Mubadala BRAZILIAN tycoon Eike Batista will transfer 17.1 million shares, or 10.5 per cent, of his iron ore mining company MMX Mineração e Metalicos SA to Abu Dhabi government investment fund Mubadala Development Corp, MMX said. The transaction will cut his stake to 46 per cent of the Rio de Janeiro-based company.






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