Thursday 28 July 2016

Arkan Building H1 revenues top $111m

UAE-based Arkan Building Materials has posted revenues of Dh411 million ($111.8 million) and net profit of Dh40 million for the first half (H1) of the year, compared with Dh444 million and Dh58 million respectively for H1 2015. The company’s operating margin was maintained


Mall of Qatar moves towards grand opening in Oct

Excitement is growing among stakeholders as Doha's Mall of Qatar (MOQ), which promises to change the entire shopping mall experience in the region, enters the last 100 days before launch. Last Thursday marked Mall of Qatar’s final march towards its grand opening, set fo


Summertown completes Etihad Academy refurbishment

Summertown Interiors, a leading fit-out contractor in the UAE specialising in green interiors, has completed the refurbishment of Etihad Airways’ Training Academy in Abu Dhabi. The high-specification project took Summertown Interiors just 14 weeks to deliver, said a company


Dubai's DP World inks Taiwan port development deal

Dubai-based global marine terminal operator DP World and the state-run Taiwan International Ports Corporation (TIPC), have signed a Memorandum of Understanding (MoU) for the development of Kaohsiung Port’s Terminal 7 in Taiwan. The agreement marks the beginning of a joint e


UK house price growth edges up, no Brexit effect yet

British house prices rose at their fastest annual pace in four months in July, in data that might not yet reflect any impact from June's vote to leave the European Union, mortgage lender Nationwide said on Thursday. "The outlook for the housing market remains unusually u


Empower to take part in Wetex exhibition

Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, will showcase its latest efforts to adopt environmental initiatives at the Water, Energy, Technology, and Environment Exhibition (Wetex 2016) in October. The even


S Korea to help redevelop port city of Alexandria

South Korea will conduct a feasibility study on redeveloping the historic port city of Alexandria in Egypt, a report said. The study will look into the technical feasibility of the development of the Egyptian seaport, along with detailed plans to raise funds, the Yonhap news agen


UAE's property loans improve despite price slide: IMF

The quality of real estate loans in the UAE has continued to improve despite sliding home prices, the International Monetary Fund said, in a sign that the UAE is coping better with a real estate downturn than it did in the last slump seven years ago. Dubai's average residenti


Major foreign firms bid for Saudi clean fuels project

Foreign engineering companies have bid to build Saudi Aramco's clean fuels project at the state oil giant's Ras Tanura refinery, industry sources told Reuters.   The bid deadline was July 17 for the $2 billion-plus scheme which will remove sulphur from r


Construction sector to boost Mideast FM market

The Middle East facility management (FM) market will be fuelled by construction activities and the strong presence of multi-national firms in the next five years, a report said. Globally, the market will touch $945.11 billion by 2025 with integrated FM (IFM) as the fastest growin

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