Saturday 1 August 2015

Senaat's H1 earnings up 18pc

Senaat, a leading industrial investment holding firm in the UAE, has registered over Dh1 billion ($272.2 million) in EBTIDA (earnings before interest, taxes, depreciation, and amortization) during the first half of the year, up 18 per cent from H1 2014. The company’s net profit a


Qatar Airways Cargo to launch express airfreight service

Qatar Airways Cargo (QAC) is set to launch an express airfreight service for door-to-door and time-critical shipments, according to a report. The new ‘QR On-Board Courier’ service will be rolled out across the cargo carrier's global network on August 1, which will


US maritime graduates to fly pioneering Falcon

America’s first Bachelor of Science in Maritime Technology, offered by Northwestern Michigan College, is to get a special Falcon remotely operated vehicle (ROV). The Falcon will be fitted with an advanced sonar system that will help graduates study ROVs as a multicomponent


GE to ship $10bn work overeas as US Ex-Im languishes

General Electric Co is taking steps to shift some US manufacturing work overseas now that the US Export-Import Bank will be shuttered at least until September, the industrial giant's global operations boss told Reuters on Thursday. GE vice chairman John Rice said the conglome


Bangladesh cbank to set up $500m fund for manufacturing

Bangladesh's central bank will set up $500 million of funding for the country's manufacturers, in an effort to stimulate economic growth, the head of the bank said on Thursday. The money will be split between two funds, one aimed at manufacturing in general, the second at


PAI to sell air cargo handler Swissport to HNA

European private equity firm PAI Partners said on Thursday it had agreed to sell Swissport International to China's HNA Group, a deal that will help the Swiss air cargo handler broaden its reach in Asia. HNA Group, the owner of China's Hainan Airlines, will pay 2.7 billio


New tyre rules in Saudi Arabia from November

New regulations governing tyres produced or sold in Saudi Arabia will come into force in November, said the board of the Saudi Standards, Metrology and Quality Organisation. The technical regulations have set limits for the rolling resistance on wet surfaces, as per the announcem


International Chamber of Shipping lauds new Suez Canal

The International Chamber of Shipping (ICS) has commended the New Suez Canal during a site visit today (July 30) in Ismailia. With just one week until the inauguration, a committee consisting of the industry’s top governing bodies toured the canal in order to assess its rea


Iran, Qatar trade 'poised to grow'

Qatar and Iran are poised to further develop the trade relations between the two countries, which is currently worth about $500 million per annum, said the Qatari ambassador to Tehran. The two countries have a historical and strong trade, economic, and transportation infrastructu


Gulf Craft showcases at Sydney boat show

UAE-based Gulf Craft is participating in the 2015 Sydney International Boat Show, the largest recreational marine event in the southern hemisphere, which kicked off today (July 30). The show will run until August 3 at the Cockle Bay Marina in Darling Harbour and the Sydney Exhibi

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