Saturday 22 July 2017

Dubai Customs cost saving moves yield $274m

An aggregate of Dh1.07 billion ($274 million) was added by Dubai Customs from 2004 to 2015 as income and cost savings due to the implementation of 17,771 employee ideas and suggestions. Hussain Fardan, manager of Innovation Center at DC, attributed the remarkable return o


Mubadala, Nexen Tire sign strategic partnership

Mubadala Investment Company, an Abu Dhabi strategic investment fund, and Nexen Tire, a leading global tyre manufacturer, have signed a memorandum of understanding to explore strategic partnership opportunities. Mubadala has made a direct investment into Nexen as part of the agree


Irkut signs deal for three MC-21- 300 aircraft

Russia's Irkut Corporation, a member of the United Aircraft Corporation, and Angara Airlines, based in Irkutsk, Russia, have signed an agreement of intent for three MC-21- 300 aircraft. The agreement was signed at the International Aviation and Space Salon MAKS-2017 in Zhukov


Himoinsa develops new control units for gas-powered gensets

Spain-based Himoinsa, a global corporation that designs, manufactures and distributes power generation equipment worldwide, has developed new control units for gas powered generator sets. The new controllers have been programmed with a special start-up and stop sequence to ensure


MOL partners with Evonik, thyssenkrupp for propylene oxide

Hungary-based MOL Group, an integrated, international oil and gas company, has signed license agreements with Evonik and thyssenkrupp, enabling it to produce propylene oxide, a key component for the production of polyether polyols. Germany’s Evonik is one of the world leade


AAR in deal to support flydubai Boeing 737 MAX aircraft

AAR, a global aftermarket solutions company, has expanded its relationship with Dubai-based flydubai by signing a long-term contract to provide comprehensive flight-hour component support for its new Boeing 737 MAX aircraft. Flydubai airline is set to take delivery of 100 Boeing


Borouge to highlight innovative solutions at summit

Abu Dhabi-based Borouge, a leading provider of innovative value creating plastics solutions, will highlight how the company, using innovation as an integral part of its business, delivers new solutions to meet the evolving market demands, at the upcoming Abu Dhabi International Downstream Summi


Oman’s non-oil exports drop to $6.2bn in 2016

Oman's non-oil exports declined to RO2.4 billion ($6.2 billion) in value in 2016, down from RO3 billion ($7.79 billion) a year earlier, a drop of 20.1 per cent, said a report quoting Central Bank of Oman (CBO) data. The slump was primarily because of the general economic down


Solar, fossil fuels cost gap narrowing, says expert

The external cost of power generation by fossil fuels, mostly related to the environment and public health, has been shown to be the same or more than the cost of generating electricity by solar power, said an industry expert. In 2013, the external cost of fossil fuel-based energ


GPIC completes external audit of management system

Bahrain-based Gulf Petrochemical Industries Company (GPIC) has reported that Global Auditing Company (DNV) has carried out a successful external audit of its Integrated Management Systems (PAS 99). The auditors verified the integrity of all the company's operations, its vario

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