Friday 28 August 2015
 
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Suez Canal Authority gains powers to set up joint-stock firms

The Egyptian government approved legislative amendments on Thursday that would grant the Suez Canal Authority the right to establish joint-stock companies, the cabinet said in a statement. Egypt plans to build a new Suez Canal alo

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New Asia-Bahrain flight links to be established

Direct flights from Bahrain to five new destinations in Southern and Eastern Asia could soon be established, it has been revealed. Bahrain Airport Company chief executive Mohamed Yousif Al Binfalah told the Gulf Daily News (GD

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Itqan, Mubasher to set up sharia-compliant brokerage firm


Itqan Capital, a Saudi Arabia-based investment company licensed by the Capital Market Authority (CMA) and a member of Al Baraka Banking Group, and Mubasher Financial Services, a leading financial institution in the Middle East, have signed a dea

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UAE to set up series of 100MW solar power stations

UAE’s Federal Electricity and Water Authority (FEWA) is set to create a series of solar power stations with a capacity of 100 megawatts (MW) at a cost of Dh500 million ($136 million), according to a report. The new project w

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Bahrain to ease foreign investment curbs

Restrictions on establishing companies in Bahrain will be waived as the government seeks more foreign investment.   The Shura Council has voted in favour of amendments to the companies' law which was proposed

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First Arab IT firm to be established

Leading Gulf investors have joined hands to set up Trust 300, the first global Arab IT company which will have a major presence in the UAE, Morocco, Egypt, Jordan, India, UK, US, and Philippines. The company established by “By La

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DDE sets up ME’s first diamond boiling unit

Dubai Diamond Exchange (DDE) said that the first diamond boiling facility in the Middle East has been set up at the Almas Tower in Dubai in a move to address the growing needs of its member base. Boiling is a process used to remove dirt an

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First sea mining firm comes up in TechnoPark

TechnoPark, the science and technology facilitator of Economic Zones World, said it has signed a land lease agreement with First Sea Mining Factory to set up its unique recycling facility in Dubai. The First Sea Mining Factory, which uses

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Taqa eyes $3.5bn Japan credit, Samurai bonds

Abu Dhabi National Energy Company (Taqa) is establishing a $3.5 billion credit facility in Japan to fund acquisitions and is seeking a credit rating there to sell Samurai bonds, Taqa's chief executive said. About 10 banks, including Bank o

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Bahrain plans $400m Lube oil plant

Bahrain is to establish a BD151 million ($400 million) lube base oil manufacturing plant in joint venture with a Finnish company, it was revealed. Oil and Gas Affairs Minister and chairman of National Oil and Gas Authority (Noga) and Bapco

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