ACROSS the Gulf, petrochemical companies’ earnings are set to suffer following the deep decline in oil prices, reports Reuters. However, heavy state spending means most firms in other sectors in the region are likely to do just fine.
UAE’s Hamriyah Free Zone Authority (HFZA) showcased its services and advantages to 28,000 attendees at the recently concluded OSEA 2014, an international oil and gas industry exhibition and conference in Singapore.
TOP UAE steelmaker Emirates Steel has received the gold category of the Sheikh Khalifa Excellence Award (SKEA 2014). The prize was presented to winners by Sheikh Hamed bin Zayed Al Nahyan, chief of the Abu Dhabi Crown Prince’s court, at a ceremony held at the Emirates Palace.
DAMEN Shipyards and its customer Sharjah Ports Authority have celebrated the keel laying of two new vessels. Presiding over the ceremony was Mohammed Meer Al Sarrah, director of the Department of Seaports and Customs at the Hamriyah Free Zone Authority and Sharjah Airport International Free Zone.
SAUDI Oger, the construction and facilities management firm, has gained the distinction of becoming Honeywell Aerospace’s first Boeing Business Jet avionics maintenance plan customer in the Middle East.
SAUDI ARABIAN Mining Company (Ma’aden) investments have now exceeded SR85 billion ($22.
DUBAI World Central (DWC), the world’s first purpose-built aerotropolis, has announced the signing of a strategic agreement with STTS Group, a major player in aircraft painting.
Posco building plant in Oman POSCO E&C has signed a $400 million contract with Sun Metals LLC for a steelmaking and rolling mill plant in Oman. Capacity at the plant will be 2.5 million tonnes annually of billets, steel bars and special steel. Completion time is 30 months.
GLOBAL security and aerospace leader Lockheed Martin celebrated the opening of a new state-of-the-art collaboration centre in Masdar City to explore innovation, advance security and help achieve the UAE’s vision of building a strong resilient economy.