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UAE's Al Seer Marine inks strategic deal with RafnarAl Seer Marine, a key manufacturer of unmanned surface vessel (USV) based in the UAE, has signed a co-operation agreement with Iceland-based company Rafnar to develop products using its revolutionary technology, OK Hull and sell them under Abu Dhabi license. Rafnar began as a res More… |
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Mubadala unit buys 10pc stake in Egypt offshore projectUAE-based Mubadala Petroleum, a global upstream oil and gas exploration and production company, said it has signed an agreement with Italy's Eni to acquire a 10 per cent participating interest in the offshore Shorouk Concession in Egypt. Eni, through its subsidiary IEOC, hold More… |
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Magic Planet opens at The Avenues mall in BahrainMajid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia, has announced the opening of its Magic Planet outlet at The Avenues mall in Bahrain. Magic Planet, The Avenues – Bahrain, is the third location in the cou More… |
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Wind, solar to meet 50pc of global power needs by 2050Wind and solar sector will be instrumental in 50 per cent of global power generation by 2050 on the back of reductions in cost and the advent of cheaper batteries that will enable electricity to be stored and discharged to meet shifts in demand and supply, said a report by Bloomberg NEF (BNEF). More… |
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DP World unveils big Canadian port expansion plansDubai-based global marine terminal operator DP World said it has reached an agreement with Canada's Port of Prince Rupert on the terms of a project development plan that outlines the next phase of expansion for the DP World Prince Rupert Fairview Container Terminal. The Phase More… |
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Latitude Consultancy set for merger with Dubai firmLatitude Consultancy, a leading British company in the investment migration industry, has announced its plans for a merger with RIF Trust Investments, a Dubai-based citizenship-by-investment leader in the GCC region. The merger will expand Latitude’s international network t More… |
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Bell, Safran to develop hybrid electric power solutionsBell Helicopter, a Textron Inc. company, announced at the Future of Transportation World Conference a newly formed collaboration with Safran on the development of innovative hybrid electric power system solutions to support Bell’s vertical take-off and landing (VTOL) aircraft concept. More… |
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FedEx orders 24 Boeing medium, large freightersBoeing and FedEx Express have announced a new order for 12 767 freighters and 12 777 freighters, reflecting the confidence of the world's largest air cargo carrier in the growing market. "We are taking another positive step in our fleet modernization program as we add mo More… |
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OHA, Varde to buy $1bn DB shipping loan portfolioOak Hill Advisors and Värde Partners said they have entered into an agreement to acquire a $1 billion portfolio of shipping loans from Deutsche Bank. The transaction is expected to close in the third quarter of 2018 pending regulatory approvals. Oak Hill Advisors is a leadin More… |
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Lamprell, Asyad Holding to set up Saudi JV companyUAE-based Lamprell, a major provider of fabrication, engineering and contracting services, said it will join hands with Asyad Holdings to set up a joint venture company in the kingdom as part of its regional expansion strategy. A key player in the kingdom, Asyad Holdings brings signi More… |
