Monday 8 March 2021

Abu Dhabi IHC's 2020 net profit grows six-fold to $816m

Abu Dhabi-based strategic investment company International Holding Company has reported a net profit of AED3 billion ($816 million) for 2020, a six-fold, year-on-year increase, driven by a series of acquisitions as well as organic growth across its diversified portfolio.


Thyssenkrupp Elevator rebranded TK Elevator, gets new logo

Thyssenkrupp Elevator, a leader in passenger transportation systems with a major presence in Middle East, has now been rebranded TK Elevator, following the company’s successful transformation into a stand-alone entity.    Designed to work effortlessly


Saudi female business leaders poised for growth: KPMG

Some 66% of female leaders in Saudi Arabia and more than half (58%) of global respondents remain confident or very confident about their companies’ growth prospects over the next three years, a KPMG survey found.   A significant majority of global female l


Al Barakah Dates expands facility, plans 100,000 t production

Al Barakah Dates has announced plans to expand its existing facility to become the world's biggest privately-owned date factory in Dubai Industrial City, the region's largest manufacturing and logistics hub.    The food company will more than double


Kia starts pilot of last-mile delivery service in Singapore

Kia Corporation has begun to lay the groundwork for its innovative Purpose Built Vehicle (PBV) business, partnering with cold chain startup ‘S.lab Asia Inc.’ to break into Singapore’s last-mile delivery market.   On January 28, the two companie


Renewable energy boost Oman economic diversification

Renewable energy projects contribute to economic diversification plans espoused by Oman at a time the country strives to regulate sources of energy, conserve the environment and limit harmful fossil fuel emissions.   The sultanate, represented by the Ministry of


Dubai Airshow to launch startup event Vista

Dubai Airshow 2021 is introducing its new dedicated startup event, Vista, which will be a platform for innovators, creators and market disruptors to display the latest technologies and play a part in accelerating the future of the aerospace and defence industries.   


Top Saudi dairy group Almarai gets new CEO

Saudi Arabia's Almarai Company, the largest dairy firm in the GCC by market value, has appointed Abdullah Nasser Al Bader as its new chief executive effective today (March 7).   An industry veteran, Al Bader had joined the company more than 20 years ago, dur


Cortec unleashes boiler ‘Reptiles’ on corrosion

Boiler layup season for heating systems is just around the corner, which makes it the perfect time to unleash Cortec Corporation’s boiler layup “reptiles”, the company says.    These options make boiler layup effective and incredibly simpl


Separation Machinery market to grow at 4.2% CAGR

The Separation Machinery Market is set to grow from its current market value of more than $82.6 billion to over $110.6 Billion by 2027, gaining remarkable traction over the 2021 to 2027 period, according to market research firm Global Market Insights.   The sepa

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