Tuesday 25 July 2017
 
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Abu Dhabi fund grants $1bn for projects in Egypt

The Abu Dhabi Fund for Development (ADFD) has provided a total of Dh4 billion ($1.08 billion) worth of grants and concessionary loans to Egypt for 64 development projects, a report said. The constructive cooperation between ADFD and the Government of Egypt continues to promote su

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Qurain Petrochemical net profit up 24pc in Q1

Kuwait-based Qurain Petrochemical Industries Company (QPIC) has reported a net profit of KD6.17 million ($20.23 million) for the first quarter of 2017-18, representing a 24 per cent increase over the same period last year (KD4.98 million). The earnings per share (EPS) for the qua

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Alba launches summer safety campaign

Aluminium Bahrain (Alba), the Bahrain-based international aluminium smelter, has launched its Summer Safety Challenge campaign. Aimed at raising safety awareness during summer, the campaign unveiled three areas of focus: stop lost time injuries (LTIs); decrease injuries; and have

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Canon Middle East launches LCOS projector

Canon Middle East, world leader in imaging solutions, has launched the Xeed WUX500ST – a compact, efficient and versatile liquid crystal on silicon (LCOS) projector. Featuring 5,000 lumens colour brightness, built-in HDBaseT and a 75 per cent vertical lens shift, it’s

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Manateq to offer investment opportunities for private firms

Qatar’s Special Economic Zones Company (Manateq) is set to announce huge business and investment opportunities for private companies, including for those keen to invest in the country’s booming hospitality and logistics industries, said a report. Manateq is the state-

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Al Sharqi Shipping wins CMA CGM award

UAE-based Al Sharqi Shipping, a leading logistics service provider in the region, recently received the ‘Top Customer Award’ for the year 2016 from France’s leading global shipping group CMA CGM. This recognition marked Al Sharqi's fourth consecutive win wit

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Sharp fall in Mideast business confidence

Business confidence across the Middle East has fallen sharply in the last quarter and is now at its lowest level since the second quarter of 2016, according to the latest edition of the Global Economic Conditions Survey (GECS). The region is also likely to face further challenges

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Mena plans $200bn investment in renewable sector

The Middle East and North Africa (Mena) region is embarking on a massive programme to develop renewable energy, that will require more than $200 billion in investment, a report said. More than 67GW of clean energy projects at various stages of the design and study stage, accordin

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Sallyport Global wins $133m contract for Iraq air base

US-based Sallyport Global Holdings has been awarded a six-month service contract, for a not-to-exceed amount of $133.8 million, to provide base operations support, life support and security services at Iraq’s Balad Air Base, said a report. Sallyport is a global provider of

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Russia to supply tanks to Iraq

Russia will supply a large batch of tanks to Iraq this year, according to the Russian Tass news agency in a recent report. Vladimir Kozhin, the Russian president’s aide for military technical cooperation, revealed that the contract was significant and would likely be follow

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