Monday 25 July 2016

EGA named among top ‘rapidly globalising companies’

Emirates Global Aluminium (EGA), one of the world’s leading aluminium producers, has been named one of the top rapidly globalising companies in the Boston Consulting Group (BCG) 2016 Global Challengers report. The BCG Global Challengers report focuses on the innovative busi


Saudi's PetroRabigh Q2 net profit slides 79.6pc

Saudi Arabia's Rabigh Refining and Petrochemical Co (PetroRabigh) reported a 79.6 per cent decrease in net profit in the second quarter as petrochemical prices dropped and refinery margins fell.   The firm, a joint venture between Saudi Aramco an


Enec signs support services deal with Korea firm

The Emirates Nuclear Energy Corporation (Enec) and Korea Hydro & Nuclear Power (KHNP) have signed an operating support services agreement (OSSA) for the Barakah nuclear power plant in Abu Dhabi, UAE. The agreement was signed at a ceremony held at Enec’s headquarters in


15,000 entrepreneurs, SMB owners to attend Sage Summit

More than 15,000 entrepreneurs and small and medium business (SMB) owners from around the world will attend the Sage Summit, a leading gathering of entrepreneurs and business builders, to be held tomorrow (July 25), in the US. The event organised by Sage, a market leader in cloud


Schneider Electric introduces InRow DX 600mm

Schneider Electric, a global specialist in energy management and automation, has introduced the second generation of the InRow DX (direct expansion) 600mm as the latest addition to the InRow product line. The InRow Direct Expansion product design closely couples the cooling with


Wilo to build facility in Jafza

Germany-based leading pump manufacturer Wilo has announced an investment to build a local facility in Jebel Ali Free Zone (Jafza), Dubai. The investment plan consists of constructing offices, a training centre, warehouses and local assembly plant over an 8,000 sq m plot of land,


CEO says Audi plans three electric car models by 2020

Audi aims to have three electric car models by 2020 and for electric vehicles to account for 25 to 30 per cent of its sales by 2025, chief executive Rupert Stadler told a German newspaper. Audi's electric cars push, reported by Reuters earlier this week, is part of a strategi


Duqm electricity demand expected to grow substantially

Electricity demand in Duqm, where one of the Middle East’s most ambitious industrial and economic hubs is currently under development, is anticipated to grow 10-fold to 650 megawatts (MW) by the year 2025, said a report. This compares with around 67 MW of diesel-based gener


Aluminium Bahrain Q2 net income down

Aluminium Bahrain (Alba), owner of one of the world's largest aluminium smelters, reported a 45.4 per cent fall in second-quarter net profit on Sunday. Alba's net income for the three months to the end of June was BD16.28 million ($43.2 million), compared with a profit of


Modon signs over 6,000 deals worth $160bn

The Saudi Industrial Property Authority (Modon) has signed more than 6,000 industrial, logistic and services contracts for investments worth more than SR600 billion ($160 billion), said a report. The deals are expected to provide jobs for more than 520,000 employees, added the Ar

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