Tuesday 25 October 2016

Dar Al Arkan net profit up 21pc in Q3

Saudi-based Dar Alarkan Real Estate Development Company has posted a 21 per cent jump in its net profit for the third-quarter which rose to SR113 million ($30 million) from SR93 million ($24.7 million) over the same period last year. The increase in the profit was mainly due to t


Saudi Arabia to start key railway line by early 2017

The North-South Railway, the 1,250-km-long rail network which will start from Riyadh and run through Al-Majma’ah, Qasim, Hail and Jouf areas of the kingdom to reach Al Qurayyat, will be launched early next year, said a report citing a senior government official. The project


Arabian Cement Q3 net profit up 8.6pc

Egypt-based Arabian Cement, one of the largest cement firms in the region, has reported a net profit of SR97.2 million ($26 million) in the third quarter, up 8.6 per cent over the same period in 2015. The growth in net income was primarily attributed to sources such as higher other net


Experts to discuss Kuwait's $250bn projects market

Senior government and business leaders will be in Kuwait for a key summit next month which will put focus on the country’s $250-billion projects market. Now in its 12th year, The Kuwait Projects conference will be held at the Regency Hotel, Salmiya on November 28.


Dewa launches region's first kinetic energy park

Dubai Electricity and Water Authority (Dewa) opened the first smart kinetic energy park in the Middle East and North Africa (Mena) region at Dubai Ladies Club. The Al Saada Park is the first smart platform of its kind in the Mena region that promotes exercise, entertainment, and


Kuwaiti firm Kamco buys key US office tower

Kuwait-based Kamco Investment Company said it has successfully acquired General Electric’s (GE) global operation centre building, a 12-storey office tower located in Cincinnati, US. A leading investment company with one of the largest assets under management (AUMs) in the G


Dubai Land Department launches smart investment map

Dubai Land Department (DLD) has unveiled its smart investment map application, which boasts a wide range of pioneering features added during the second phase of the application’s development, at the Gitex 2016 in Duai, UAE. The new additions in the app include advanced tool


Miral unveils new attraction on Yas Island

UAE-based Miral has announced plans to develop the next new exciting attraction - Clymb - on Yas Island, Abu Dhabi. Miral will bring the world’s widest flight chamber and tallest indoor climbing wall to the island in 2018, complementing Yas Island’s existing array of


Saudi payments to contractors will increase soon, says minister

The payments to contractors working on mega projects in Saudi Arabia have been regularised and will rise in the coming period, said a report citing the kingdom's finance minister. Ibrahim Al Assaf pointed out that delays in state payments to construction firms were mainly due


Enec, Kepco sign JV for UAE nuclear energy project

Emirates Nuclear Energy Corporation (Enec) and Korea Electric Power Corporation (Kepco) have signed a joint venture (JV) agreement for a long-term partnership and cooperation for the UAE’s peaceful nuclear energy programme. Kepco, the prime contractor for the Barakah nuclea

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