Regional News
July 2008

LG Electronics and its sole distributor in Saudi Arabia, HG Ibrahim Shaker Co Ltd, have announced the inauguration of an air conditioning joint venture factory named LG-Shaker Co Ltd in Riyadh.






July 2008

The paint market, which is currently worth Dh750 million ($204 million) across the Middle East, is witnessing a boom. House prices have gone up 10 –15 per cent across the region.People are decorating their apartments and villas, using paints of the highest quality to keep up with the latest styles and trends, according to a statement.






July 2008

A new $500 million firm has been set up in Bahrain by GBCorp, an Islamic investment bank, to promote investments in hydrocarbons and energy infrastructure. GBCorp has teamed up with Taylor-DeJongh (TDJ), one of the world’s leading project finance advisors, to establish the energy subsidiary, Global Energy Financial Services Company (Gefsco).






July 2008

Bahrain-based Capivest Bank has announced the launch of a multi-million-dollar investment opportunity that will specialise in transportation, earth movement and heavy equipment in Qatar.






July 2008

Dubai Knowledge Village (DKV), a member of Tecom Investments, highlighted Dubai’s growing status as a leading destination for learning and HR management at the ASTD 2008 International Conference and Exposition in the US.






July 2008

Mapei Group, a leader in adhesives, sealants and chemical products for the building industry, will set up a Dh150 million ($41 million) production facility at Dubai Investments Park (DIP), a mixed-use industrial, business and residential development.






July 2008

The world’s most elaborate flooring solutions are gracing the offices of the Middle East already and generating a more productive and happier work force, according to German wooden flooring maker Parador.






July 2008

The GCC region has become a very important destination for Malaysian palm oil in the past five years, the Malaysian Palm Oil Council (MPOC) says.   According to its statistics, total exports of the product to the region average at around 500,000 tonnes annually.






July 2008

Rubber World Industries (RWI) has said it will invest Dh30 million ($8.16 million) in the construction of a new production facility in the UAE as part of its regional expansion plans and has plans to triple its production capacity within five years.






July 2008

France’s Lafarge and its Iraqi partner Asiacell plan to invest around $550 million to raise cement capacity in Northern Iraq and help meet a shortage in the region.






July 2008

Cavotec Middle East FZE, a leading supplier of environment-friendly power solutions, says it is eyeing a bigger share in the Middle East market following the successful completion of the Dh92 million ($25.04 million) contract to supply its WIBE Cable Management System to Concourse 2 of Dubai Airport.






July 2008

Fine, a market leader in the Middle East’s hygienic paper industry, has announced that it has received the Emirates Quality Mark for its products awarded by the Emirates Authority for Standardisation and Metrology (Esma) in Dubai.






July 2008

The Dubai Multi Commodities Centre (DMCC) has announced that it has registered PTT International Trading (PTTT) DMCC, a subsidiary of Thailand’s national oil company, as the 100th member company of its fast-growing Energy Division.






July 2008

Egypt-based El Sewedy Cables has said it will build a $150 million power cable plant in Qatar with a local partner to tap surging Gulf Arab infrastructure spending. The factory will have an annual production capacity of 30,000 tonnes, most of which will be sold in the local market.






July 2008

Al Rabie Saudi Food Company, one of the leading producers of dairy products and juices in Saudi Arabia, has announced that it recently commenced production of fruit juices fortified with vitamin D and calcium. The company said the supplementations were part of its efforts to increase demand for high-nutrition fruit beverages in the Saudi market.






July 2008

Dubai Cables Co Ltd (Ducab) has inaugurated its first copper rod plant and a new cable factory at the Mussafah industrial area, which was recently acquired from Electrocab Emarat. The $45 million rod plant, which is the first of its kind in the UAE, has capacity of 110, 000 tonnes per annum.






July 2008

Jafza officially launched its new E-Gate card issuance facility under its single window services at the Jebel Ali Free Zone.






July 2008

Arabian Fiberglass Insulation Company (Afico) has said that the company will increase its production capacity by 50 per cent after the completion of a major capacity expansion at its manufacturing facility in Dammam, Saudi Arabia.






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