Regional News
October 2013

Dubai Investments (DI), the largest investment company listed on the Dubai Financial Market (DFM), is working closely with Dubai Exports, the export promotion agency of the Department of Economic Development (DED), Government of Dubai, to reinforce its growth strategy in export markets.






October 2013

Bechtel has announced that a new regional office it has set-up in the UAE for its mining and metals business will serve better its clients in the GCC countries.






October 2013

Siemens, the global electronics and electrical engineering giant, has won a turnkey contract from the Kuwait National Petroleum Co (KNPC) to supply high-voltage substations for its refineries. The project, valued at KD68.2 million ($239.33 million), will provide reliable power supply to two of KNPC’s biggest refineries.






October 2013

General Electric (GE) proposes to build an advanced oil and gas manufacturing facility in Dammam’s Second Industrial City, part of the $1 billion investment that was committed to Saudi Arabia last year. The company signed a 74,000 sq m land lease agreement with the Saudi Industrial Property Authority (Modon).






October 2013

A call has gone out for establishing a specialist financial institution with an initial capital of $5 billion to deal with the funding of massive infrastructure projects. The proposal to create the International Infrastructure Investment Bank (IIIB) in Doha and London by 2015 was made at the recent "Meed Qatar Banking Summit 2013.






October 2013

US food and agricultural services group Cargill has established a foothold in Saudi Arabia following the signing of a deal with Arabian Agricultural Services Company (Arasco) to set up its first starches and sweeteners joint venture in the kingdom.






October 2013

Khalifa Industrial Zone Abu Dhabi (Kizad) has secured the ISO 10002:2004 certification for the third consecutive year, proving excellence in quality management, customer satisfaction and guidelines for handling complaints. Kizad is a 418 sq km industrial zone strategically located between Abu Dhabi and Dubai.






October 2013

The UAE’s Gulf Precast has overcome brisk competition to win a contract to build 65 precast schools in central Iraq. The company said it had completed designing the schools and their boundary walls and while the initial part of the production is under way in the UAE it is in the process of building a production plant in Iraq.






October 2013

Small- and medium-sized enterprises (SMEs) in Saudi Arabia are gearing up for ambitious, technology-fuelled expansion drives across the region, according to a new worldwide survey.






October 2013

Forty emiratis owning farms in Abu Dhabi took part in a seminar in the capital to discuss the Zaarie programme which was launched recently to support their efforts to advance agricultural production.






October 2013

Bahrain-based Asry has appointed Nils Kristian Berge, the current commercial general manager, as its acting chief executive, to succeed Chris Potter, who will be leaving the company this month. The Asry board confirmed the transition had been planned for several months in order to ensure a smooth and seamless transfer of responsibilities.






October 2013

Occidental Petroleum is looking to sell a minority stake in its Middle East operations as part of a broader plan to split up the company, two sources familiar with the matter said, Reuters reported.






October 2013

Almarai gets nod SAUDI Arabia’s Almarai has received shareholder approval to increase its capital by 50 per cent to SR6 billion ($1.60 billion), the dairy firm said in a statement. The company will increase the number of shares to 600 million from 400 million by issuing one bonus share for every two outstanding shares.






October 2013

New initiatives have been announced by Dubai Trade, a premier trade facilitation entity that offers integrated electronic services from various trade and logistics service providers in Dubai under a single window.






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