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MAG boosts Iraq shipping capacity by 60pcDubai-based MAG Container Lines, a division of the multinational MAG Group, has added three new automated vessels to its existing fleet, boosting potential capacity on its busy Iraq shipping route by an additional 60 per cent. A total of $6 million was invested in the IAX-class v More… |
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Sabic to distribute $2.4bn dividends in H2Saudi Basic Industries Corp (Sabic) said on Wednesday it would distribute dividends worth SR9 billion ($2.4 billion) for the second half of 2013. This is equivalent to SR3 per share, according to a statement posted on the Saudi stock exchange, the same as for the correspond More… |
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Pearl diving 'regains popularity' in BahrainInterest in commercial pearl diving could be on the rise in Bahrain as regular excursions are regaining popularity, said an expert. Al Dar Island manager Mohammed Slaise said the sector could make a splashing comeback as he leads regular pearl collecting trips from the resort off More… |
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AerCap to buy AIG aircraft leasing unit for $5.4bnInsurer American International Group (AIG) has announced plans to sell its aircraft-leasing business to AerCap Holdings for $5.4 billion, after four years of trying to divest its biggest non-insurance business in fits and starts. The agreement will give AerCap, a Netherlands-base More… |
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Safco to pay $1.6 per share cash dividendThe board of Saudi Arabia Fertilizers Co (Safco) has recommended the firm pay a cash dividend of six riyals ($1.60) per share for the second half of 2013, a bourse filing said on Tuesday. This is in line with the dividend paid for the corresponding period of 2012. More… |
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UAE ranked 17th globally for merchandise exportThe UAE was ranked the 17th globall for merchandise trade for 2012, surpassing India, Sweden and South Africa, according to a World Trade Organisation report. China topped the list of exporters, while the US came second in the “International trade statistics 2013” rep More… |
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Investments in Saudi plastics sector hit $50bnThe investments in Saudi Arabia’s plastics sector has reached $50 billion, while its petrochemical industry is set to achieve a production capacity of over 100 million tonnes per annum by 2015, said a recent study. Saudi Plastics and Petrochem 2014, the 11th international p More… |
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Asry Bahrain overhaul plan approvedBahrain's Arab Shipbuilding and Repair Yard's (Asry) board under the chairmanship of Shaikh Daij bin Salman Al Khalifa has approved a package of initiatives to improve the company's position next year. These include the reorganisation of the company's corporate st More… |
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DHL Mena chief wins top honourDHL Express, a leading logistics company, said its Mena CEO Nour Suliman has been placed among the top 100 executive management heading global corporate powerhouses in the region. Under the theme ‘Global Meets Local,’ Suliman was awarded alongside peers at an event he More… |
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Dubai Investments unit wins $38m projectsGlass, a wholly-owned subsidiary of Dubai Investments, said its coating lines, comprising Emirates Glass and Saudi American Glass, have won Dh140 million ($38.1 million) projects over the last quarter. The announcement comes amid a sharp surge in construction and infrastructure p More… |
