Regional News

In Brief

GAC Dubai wins award

GAC Dubai’s world-class service to the Middle East’s busy fast moving consumer goods (FMCG) sector has earned it the FMCG Supply Chain Management Award in this year’s Logistics Middle East Awards. The award, which was presented last month in Dubai, recognises the procedures, training and technology deployed by companies in ensuring a seamless, safe and efficient cold chain. By selecting GAC Dubai, part of the global GAC Group, as the winner, the panel of judges acknowledged and applauded its ability to provide top-notch supply chain management services to the industry, said a statement.

 

British Royal honour for Lulu

Y International (UK) Ltd, part of Abu Dhabi-based Lulu Group International, has won the Queen’s Award for Enterprise: International Trade 2017, the most prestigious award for business excellence in the UK. The annual award is given to organisations for their extraordinary contributions in the field of economy, business and employment generation, based on the recommendation made by British Prime Minister Theresa May and approved by Queen Elizabeth on her birthday.

 

Almarai Q1: tepid growth

ALMARAI’S year-on-year (y-o-y) revenue growth, which slowed considerably in the last two quarters to approximately 1.0 - 2.5 per cent, slowed further to just 0.3 per cent y-o-y in Q1 2017, a report said. The fall is due to sustained weakness in the flagship Dairy and Juice segment (down 3.2 per cent y-o-y) and slowing growth in Bakery segment (up 3.7 per cent y-o-y), added the report from Al Rajhi Capital, a leading financial services provider in the kingdom.

 

Liberty ropes in top experts

LIBERTY House Group, a major player in manufacture of steel and advanced engineering products, has roped in some of the most prominent international metals industry figures to lead its newly-launched speciality steels business. The move comes in anticipation of completion of Liberty’s agreed £100 million ($124 million) acquisition of Tata Steel UK Speciality Steels, employing around 1,700 people in the North of England. The management board designate of Liberty Speciality Steels will include Jon Bolton as chief executive, Peter Hogg as chief operations officer and Chris Kirby as chief financial officer.