Lamprell, a leading provider of diversified engineering and contracting services to the onshore and offshore energy industry, has constructed and delivered a jackup drilling rig, the Butinah, to Abu Dhabi’s National Drilling Company (NDC). The contract was completed safely and on budget, a Lamprell press release stated.
Tecom Investments will invest Dh4.5 billion ($1.23 billion) to fund the creation of Dubai Internet City’s Innovation Hub and Dubai Design District’s Creative Community, the company announced.
RAK Ceramics reiterated it will focus on its core business while announcing an increase of 22 per cent in adjusted net profit for the first quarter. Total losses from hyperinflation reached Dh15.4 million ($4.19 million) in Q1 2015. Consequently, adjusted net profit (excluding impact of hyperinflation) was Dh75.
KING Abdullah Economic City (KAEC), a special economic zone on Saudi Arabia’s Red Sea coast near Jeddah, expects its inflow of new corporate tenants to speed up this year as the economy proves resilient to low oil prices, KAEC’s managing director said.
GPIC honoured BAHRAIN-based Gulf Petrochemical Industries Company (GPIC) has won a prize in the manufacturing category of the annual Mohammed bin Rashid Al Maktoum Business Awards The awards ceremony was held at the Madinat Jumeirah Arena in Dubai.
SABIC has said it is seeking to utilise additive manufacturing in its quest to introduce new materials and processes for improved performance.
Emirates airline remains the most valuable in a list of the Middle East and North Africa (Mena)’s top 50 brands while the UAE heads the list of brand values in the region, brand valuation and strategy consultancy Brand Finance says. Brand value is up 21 per cent from $5.5 billion to $6.6 billion.
Saudi Arabia has announced it will build Antonov aircraft in King Adulaziz City for Science and Technology (KACST). It follows a technology alliance between Ukraine’s Antonov and KACST for developing and manufacturing AN-32s as an advanced multi-purpose aircraft.
National Aluminium Products Company (Napco), announced simultaneously the net profit for last year and the first quarter of the current year. It reported a net profit of RO701,000 ($1.82 million) for the whole of 2014 and RO165,000 for Q1 2015 compared with RO159,000 for the same period last year. Revenues were RO19.39 million for 2014.
High-investment infrastructure developments in Qatar, including ones related to the Fifa World Cup, are positioning the country as a strong Gulf market for elevators and escalators, a market research group says. The latest developments will see the Qatar market for those products growing at a compounded annual growth rate (CAGR) of 5.
Intertek has opened a laboratory in Abu Dhabi, described as the first of its kind in the region, which offers integrated oil and gas testing services. The company, one of the leading solutions providers to industries worldwide, will address through the new facility increasing challenges faced in the exploration and production industry.
Aluminium Bahrain (Alba) reported strong gains in net income and sales for the first quarter of the year. It posted a net income of BD37.2 million ($98.9 million), up 117 per cent YoY versus BD17.1 million. Total sales climbed 13 per cent to reach BD206.6 million on the back of higher sales volume and physical premiums.