July 29th, 2019 | 0 commentsThe financial statements of Arab Engineering Industries indicated a 40.9% year-on-year increase in net profit during the first half of 2019. The company’s net profits amounted to EGP 4.49 million in the period, compared to EGP 3.19 million in H1-18, the company disclosed on Sunday. Meanwhile, the company’s sales rose to EGP 35.13 million...
July 26th, 2019 | 0 commentsChina's Hangzhou Jinjiang Group plans to establish an aluminium complex in Egypt in partnership with Saudi Arabia's Al Ajlan Group. Spanning over 6 million square metres, the new project will be established over four phases, including an alumina plant, an aluminium smelter, a caustic soda plant, a desalination plant, and an electric gener...
July 19th, 2019 | 0 commentsNasdaq Dubai has welcomed the listing of $1 billion sukuk and a $300 million conventional bond issued by DP World. With sukuk and conventional bond listings of $8.09 billion, DP World is the largest UAE debt issuer on Nasdaq Dubai in terms of value, according to a statement released on Thursday. Sukuk listings on Nasdaq Dubai reached $62....
July 17th, 2019 | 0 commentsOver the next five years, the Mena region will need to invest $209bn in the power sector according to the latest MENA Power Investment Outlook 2019-2023 report issued by The Arab Petroleum Investments Corporation (Apicorp), a multilateral development financial institution. Between 2019 and 2023, Apicorp estimates that investment in the Me...
July 10th, 2019 | 0 commentsCentral warehousing buildings have been delivered to Zahrat Al Waha for Trading Company with a total capacity of 22,000 square metres. The total construction cost of the newly built warehousing units amounted to SAR 13.7 million, fully financed from the company’s internal cash flows, Zahrat Al Waha said in a statement to the Saudi Stock E...
July 2nd, 2019 | 0 commentsThe Abu Dhabi General Services Company (Musanada) and the Department of Transport (DoT) announced the completion of all works on the Sheikh Zayed bin Sultan Street upgrade project between Al Falah junction and the Qasr Al Bahr junction (Package 1). Extending over 18,600 metres, the project has been built at a cost of AED 108.7 million in...
June 24th, 2019 | 0 commentsSaudi Arabia’s National Water Company (NWC) is working on developing water and environmental systems in Eastern Province, with total investments of SAR 5.8 billion, CEO Mohammad Mowkley said. NWC is about to complete the requirements of a group of projects to improve the quality of drinking water in Eastern Province, with total investment...
June 17th, 2019 | 0 commentsRas Al Khaimah Cement Company (RAK Cement) has appointed Al Ramz Capital, a subsidiary of Al-Ramz Corporation Investment and Development, as a Liquidity Provider. RAK Cement took the decision after receiving the approval of the Abu Dhabi Securities Exchange (ADX), according to the ADX’s statement on Sunday. Under the agreement, Al Ramz Ca...
June 14th, 2019 | 0 commentsMakkah Construction and Development Co announced that it has terminated any contracts with its subsidiary in Makkah City, Millennium and Copthorne Middle East Holdings Limited company. Makkah Construction has ended the agreement with the five-star Millennium and Copthorne in regards to its first project that overlooks Masjid Al Haram, the...
June 13th, 2019 | 0 commentsAbu Dhabi Investment Authority (ADIA) has purchased a 25% stake in 330 Madison Avenue in New York from Vornado Realty Trust, a spokesman of ADIA told Reuters on Wednesday. The stake has been bought by a subsidiary of the Emirati sovereign wealth fund, the spokesman highlighted. He noted that ADIA used to hold a 75% stake in the property f...
