Thursday 23 March 2017

Total eyes 50pc stake in Iran’s $4bn giant oil project

French oil giant Total has signed an agreement with Iranian authorities for a 50 per cent stake in Iran’s South Pars project which will developed at an investment of $4 billion, according to a report. The South Pars field will begin production by the end of the fiscal year,


Schneider Electric launches new wiring devices

Schneider Electric, a global specialist in energy management and automation, has announced the launch of Unica, a comprehensive, international wiring device range that comes in a variety of designs and finishes. The versatile range offers a wide range of flush-mounting boxes, ter


UAE to set up database for mineral resources

The UAE Ministry of Energy will start developing a federal electronic, interactive data base for mineral resources and mining industries (extractive and manufacturing) which includes a registry of operating companies in the sector, said a report. The data will help the ministry t


Huawei plans smart city innovation hub in Saudi

Investment Saudi Arabia and Royal Commission for Jubail and Yanbu have signed a milestone agreement with leading information and communications technology (ICT) company Huawei to establish a training academy and a smart city innovation centre in Yanbu region of the kingdom, accelerating smart c


Shaikh Ahmed named new GFH chairman

Bahrain-based GFH Financial Group (GFH), a prominent financial group in the GCC region, has appointed Shaikh Ahmed Bin Khalifa Al Khalifa as the new chairman of the company's board for the next two years, while Dr Ahmed Al Mutawa has been named the vice chairman. The announce


Hapag-Lloyd delays United Arab Shipping takeover

German ocean carrier Hapag-Lloyd said it has reached an agreement with Bahrain-based United Arab Shipping Company to shift the long-stop date (the day when both merger parties could optionally withdraw from the whole transaction without giving any reasons if the closing has not happened until t


Qatar cabinet nod for draft law on industrial designs

Qatar's cabinet has approved a draft law on the protection of industrial designs and another draft of its executive regulations with regard to trademarks, commercial data, trade names, said a report.    The decision was taken at the weekly cabinet meeti


LG wins big at iF Design Awards

LG Electronics, a global leader and technology innovator, was recently honoured with 30 iF Design Awards for excellence, a record number of awards won by the company. The company won the most prestigious iF Gold Award for the company’s CordZero canister vacuum cleaner, said


Mercator launches platform for air cargo management

Mercator, a global provider of product-led solutions to the travel and transportation industry, has launched the Intelligent Cargo Ecosystem, the industry’s first open API platform for air cargo management and ground handling. As part of this launch, the company will be sho


Transworld, Suzue form logistics JV

UAE-based global conglomerate Transworld Group and Japan’s Suzue Corporation have formed a joint venture company to explore the growing logistics business opportunities within the Gulf region, Indian Sub-continent and Japan. The strategic agreement agreement between the cop

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