News

In brief

01 August 2013

12pc rise in Aramex profit
DUBAI logistics firm Aramex posted a second-quarter net profit of Dh72.3 million ($19.7 million) compared with net profit of Dh64.6 million in the corresponding period of 2012, marking a rise of 12 per cent.

Boosted by growth in core Gulf and African markets, the result was in line with market expectations; four analysts polled by Reuters had estimated on average a second-quarter net profit of Dh72.1 million.

Revenue for the quarter rose to Dh845 million, up 9 per cent from Dh777 million in the prior-year period.

Aramex bought South Africa’s Berco Express and Kenya’s Oneworld Courier and In-Time Couriers last year.

 

DMC, Mubarak sign deal
DUBAI Maritime City (DMC) has signed a long-term agreement with Mubarak Marine to develop an industrial complex project for maritime services, shipbuilding and repair worth Dh130 million ($35 million). This complex will enable Mubarak Marine to establish their headquarters as well as a major marine workshop and maintenance facility.

DMC is a 106-hectare district comprising pre-built industrial property, ship repair and building plots, yacht repair and manufacturing plots, retail units and offices.

 

165m use public transport
OVER 165 million riders have used Dubai’s public transport during the first half of this year, said a senior official.

Mattar Al Tayer, chairman and executive director of the Dubai Roads and Transport Authority (RTA), revealed the figures for public transport which includes the Dubai Metro, public buses, marine transit modes, and taxicabs of the Dubai Taxi Corporation.

 

Oman eyes rapid transport
OMAN is considering introducing a Light Rapid Transport (LRT) or Mass Rapid Transport (MRT) to serve Muscat City, media reports say.

A study will be initiated soon to look at opportunities for integrating a future rapid transport system for the capital city with the national rail network, now officially known as Oman Rail. The proposed interface between the national rail network.




More Stories



Tags