Nakilat inks $380m loan
QATAR Gas Transport Company (Nakilat), the world’s largest LNG shipper, has signed a $380 million Islamic loan.
Qatar Islamic Bank provided $180 million of murabaha (sharia-compliant cost-plus-profit arrangement)-structured loan and Qatar International Islamic Bank provided the remainder of the cash.
Earlier, Nakilat reported a 5.9 per cent jump in second-quarter profit partly due to better cost control.
BDB starts operations
THE National shipping Company of Saudi Arabia (Bahri) said its subsidiary Bahri Dry Bulk (BDB) has started its operations in the kingdom by chartering two Kamsarmax dry bulk ships to import grains.
BDB, a joint venture between Bahri and Arabian Agricultural Services Company (Arasco), was established in 2010 with a capital of SR200 million ($53.3 million) to transport dry bulk cargo.
Majaal to build second phase
BAHRAIN’S leading provider of warehousing to small and medium-sized enterprises (SMEs) is doubling the size of its facilities to accommodate more businesses.
Kuwaiti real estate developer First Bahrain Real Estate Development Company’s flagship project Majaal is entering its second phase by bringing on board a team of contractors, engineers and consultants.
Adbulaal Construction Services will build the next phase of the project, which is located at the Bahrain Investment Wharf within Salman Industrial City.
Deal inked for Mercator
AIR Mauritius, the national carrier of Mauritius, has signed up with Mercator, part of the Emirates Group and a major provider of IT solutions for airlines, for its cargo solution to manage the carrier’s revenue accounting for its cargo operations.
The Rapid Cargo Solution, which seamlessly integrates with the Passenger Solution, enables the carrier to better manage its revenue accounting operations, resulting in access to accurate and timely data.
Business intelligence generated by Mercator’s Rapid system will enable Air Mauritius to maximise revenue and profitability via optimising costs and increasing efficiencies, a statement said.
