ALBA reported positive performance figures for Q1 in sales, output and safety and picked up an award for corporate governance while also having its chief executive named among the region’s top CEOs. The company also gave an update on the Line 6 expansion.
ALUMINIUM Bahrain (Alba) is close to selecting the financial adviser for its $2.5 billion Line 6 expansion project, having whittled down its choice to two banks, its chief financial officer told Reuters.
ASRY’S offshore division which specialises in rig repairs achieved 100 per cent on-time delivery of all rig projects completed in 2014, the company says.
SAUDI American Glass (SAG), a leading processor of architectural high-performance flat glass in Middle East and part of the Glass LLC subsidiary of Dubai Investments, has announced it has won new projects valued in excess of SR70 million ($19.05 million) across Saudi Arabia.
THE Emirates Nuclear Energy Corporation (Enec) recently received six international ISO re-certifications from Intertek, a leading provider of quality and safety services including a full range of business process audit and support services to a wide range of industries around the world.
THE Dubai International Financial Centre (DIFC) Authority’s top financial official has called for a more effective channelisation of fast growing private wealth in the Middle East.
RAK Ceramics has successfully completed the sale of its 51 per cent share in RAK Laticrete to Laticrete International for Dh48.1 million ($13.09 million) after executing the initial MoU between the two companies. The transaction includes the distribution of dividends for an additional amount of Dh8.
HUAWEI has been adjudged the Middle East’s Wireless Vendor of the Year. The company received its prize at the sixth Network World ME Awards 2015, which took place at the Jumeirah Beach Hotel in Dubai.
Mubadala profit drops MUBADALA, an Abu Dhabi state-owned fund, reported that its 2014 net profit dropped 28.7 per cent due to lower income from financial investments and impairments on oil and gas assets. Net profit was Dh1.04 billion ($283.2 million), down from Dh1.45 billion in 2013.