Tuesday 1 September 2015

Kazakh signs $23bn economic deals with China

Kazakhstan and China have signed 25 agreements worth $23 billion, aiming to move cooperation dominated by raw materials to products with greater added value, the official site of the Kazakh president and the state-run wealth fund said. Kazakhstan, a Central Asian nation of 17.5 m


Mubadala's Strata sees 15pc revenue growth

Strata, the manufacturing unit of Abu Dhabi's state-owned Mubadala Aerospace, expects revenues to grow more than 15 per cent this year and aims to break even in two years' time, its chief executive said on Tuesday. The company has an aeroparts manufacturing facility at Al


UK’s Exova wins outsourcing deal with Taweelah

UK-based Exova, a global testing group, has won a five-year outsourcing deal with Taweelah Asia Power Company (Tapco) to provide testing services for the Taweelah B Power and Desalination Plant in Abu Dhabi, UAE.  The contract sees Exova assume responsibility for all water t


Maritime industry recruitment issues in focus

The lack of well-qualified seagoing and shore-based personnel will be dicussed at a marine conference to take place in Abu Dhabi next month, as investmnet into the human element falls short of commitment to fleet and facilities development.   Seatrade Offshore M


BP, Ompet enter PTA licensing agreement for Sohar plant

BP has signed a licensing agreement with Oman International Petrochemical Industries Company (Ompet) for the use of BP’s latest generation purified terephthalic acid (PTA) technology in a new Ompet plant in Sohar. Ompet, a joint venture between Oman Oil Company, LG Internat


UK factory growth slips, hiring deteriorates in August

A two-year spell of jobs growth across British factories came to an end last month as manufacturing activity expanded at a slower pace, a survey showed, suggesting the sector is unlikely to boost economic growth much this quarter. The Markit/CIPS UK Manufacturing Purchasing Manag


Irish manufacturing grows at slowest rate in 18 months

The Irish manufacturing sector expanded at its slowest rate in 18 months in August as demand for new orders at home and abroad softened, a survey showed on Tuesday. After growing by over 5 per cent in 2014, Ireland's economy is set to be the best performing in Europe again th


DIC sells alumina unit to Turkey’s Oyak

Dubai International Capital (DIC), the private equity arm of Dubai Holding, has completed the sale of Almatis, a leading global supplier of premium alumina, to Oyak, Turkey's largest private pension fund. The completion of this sale follows receipt of all relevant regulatory


Cargo volumes soar at Dubai's DWC

Cargo volumes at Al Maktoum International - Dubai World Central (DWC) continued to rise sharply in the first half of 2015, as the airport rose up the ranks of the top cargo airports worldwide taking the 19th position up from 20th earlier in the year. Freight volumes surged 42 per


El Sewedy Electric posts Q2 net profit of $68m

Egypt's El Sewedy Electric lifted second-quarter net profit to E£537.38 million ($68.63 million) from E£103.62 million a year earlier, it said in a bourse statement on Tuesday. The company reported revenue of E£7.1 billion, against E£4.2 billion in the

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