$600m INVESTMENT
Gulftainer, a UAE-based port operator, has finalised a 50-year concession deal to operate and develop the Port of Wilmington. With a $600-million investment, the company aims to turn the port into one of largest gateways on the US East Coast.

Leading Japanese industrial company Asahi Yukizai Corporation has set up its regional base in Dubai Airport Freezone (Dafza). The new office will play a key role in expanding its business across the Middle East and North Africa region.

Fertilizer industry has a crucial role to play in addressing global food security challenges, as the world’s population continues to expand rapidly, driving demand for nutrition and resource availability, said experts at a key event in Oman.

Specialty chemicals company Lanxess has announced plans to build a compounding facility at its Krefeld-Uerdingen site, Germany, for a mid double-digit million euro amount. The work is likely to begin in the fourth quarter of 2018.

Sabic, the world’s third largest diversified petrochemicals company, has signed an agreement with Clariant towards taking steps to establish certain elements of its Specialties business as a stand-alone business.

Over 30 senior officials of the G20 Global Forum on Steel Excess Capacity are meeting on Thursday in Paris to discuss collective solutions to the global challenges faced by the steel industry.

Abu Dhabi-based Tadweer has opened a new facility to recycle construction and demolition waste in the Al Dhafra region of the emirate. The plant boasts a capacity of 31,000 tonnes per month.

Saudi Arabia's air-conditioner market is poised for solid growth over the next six years registering a CAGR of 3.1 per cent during the 2018-24 period, mainly due to its climate, high per capita income as well as population boom, said a report.

The UAE has achieved leading positions in several categories of the ICT Global Competitiveness Index published recently by the International Telecommunication Union (ITU).

Huawei, a leading global provider of information and communications technology (ICT) infrastructure and smart devices, has become one of the first technology firms to register with 100 percent ownership in Qatar.

Saudi Arabia’s Arriyadh Development Authority has unveiled the buses that will form the bus network of the Riyadh Public Transport Network.

Renault-Nissan-Mitsubishi and Google have announced a technology partnership to embed the Android operating system in vehicles sold by the world’s leading automotive alliance.