Thursday 17 April 2014

Severe storm clobbers US with winds, snow

A strong storm system packing damaging winds, dense fog, and heavy snow pelted the central part of the US on Thursday, causing massive traffic jams and loss of power, meteorologists said. At least a dozen tornadoes were reported i


RAK Properties hails new mortgage rules

RAK Properties, Ras Al Khaimah-based biggest property developer, has lauded UAE Central Bank’s new mortgage rules as ‘a major step in the real estate sector’s journey towards greater maturity.’ By virtue of


Deputy King hails US military ties

His Royal Highness Salman bin Hamad Al Khalifa, Deputy King, said the Bahraini-US military co-operation is among the fruitful results of solid historical ties bonding the two allies and a reflection of His Majesty King Hamad's keen interest t


Almarai to invest $533m in Hail buy

Saudi-based Almarai Company will invest SR2 billion ($533.3 million) to expand the business of Hail Agricultural Development Company (Hadco) it acquired recently, a Saudi newspaper reported on Sunday. Chairman Prince Sultan Mohamed Saud al


Almarai says raises capital by 37.6pc

Saudi-based Almarai will raise its capital by 37.6 per cent, increasing Hail Agricultural Development's (Hadco) stake by 6 million shares, a bourse statement said on Wednesday. Almarai, the Gulf's largest dairy firm, had offered in July to


Saudi firm invests in Sudan farming

Saudi private sector company Hail Agricultural Development Co (Hadco) has picked Sudan for its first investment in farming abroad under a Saudi government scheme to ensure steady food imports, it said. Hadco has recently acquired farming l


BNP Paribas sets up HQ in Bahrain

BNP Paribas, a European banking and financial group specialised in corporate, private and retail banking, has selected Bahrain as its regional headquarters, its chief of operations George Chaudron said. The decision was based on the

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