Alba reported a sharp drop of 70 per cent in the net income for Q3 with sales down 17 per cent year on year due to lower LME prices. Net income for the third quarter slumped to BD8.7 million ($23 million) versus BD29.5 million for the same quarter in 2014. The company posted a net income of BD75.7 million for the nine months of 2015 versus BD61.
Asry, a leading regional ship and rig repair yard located in Bahrain, has received certification from the American Bureau of Shipping (ABS) for tailshaft cladding and welding. This follows a survey ABS carried out in June of the shipyard’s facilities and associated quality procedures.
Emirates' new deals with GE Aviation, including a $16 billion contact for the MRO (maintenance, repair and overhaul) of GE9X engines that will power the airline’s fleet of 150 Boeing 777X aircraft, have further strengthened business ties between the two and made them longstanding.
More than 50 IT professionals gathered for a seminar hosted by market-leading IT solutions and technical services provider Hilal Computers in collaboration with US-headquartered computer technology corporation Oracle.
The smart city project Silicon Park is one of several schemes totally worth Dh3.2 billion ($871 million) that are being implemented at the Dubai Silicon Oasis (DSO).
Milaha showcases capabilities MORE than 6,600 ships have been repaired at Qatar Navigation (Milaha)’s facility over the past 37 years, the company reports.
In advance of the opening next year of its Home of Innovation facility in Riyadh, Sabic hosted representatives from 43 global, regional and local companies that are participating in the initiative. The Home of Innovation seeks to introduce industry-leading technology into Saudi Arabia and the Middle East region.
Saudi Basic Industries Corp (Sabic) has said it is making a significant contribution in carbon capture and storage through initiatives such as the world’s largest CO2 purification plant at its manufacturing affiliate United in Jubail, Saudi Eastern Province.
Zodiac Aerospace has opened a new 4,500 sq m facility in Dubai South, a 145 sq km master-planned city that was formerly known as Dubai World Central, The new facility will reinforce repair and logistics capabilities and shorten lead times, thereby better serving its customers in the area, said Christophe Bernadini, CEO of Zodiac Services.
A $150 million downstream aluminium facility is to be built in a joint venture between Mumtalakat, Bahrain’s investment arm, and an Indian firm Synergies Castings.
Emirates Global Aluminium (EGA), one of the world’s leading aluminium producers, has announced the launch of the syndication for its $4.9 billion, seven-year corporate facilities comprising a conventional facility and a commodity murabaha facility.