Regional News
March 2018

The Gulf economies are on a solid growth track this year with the GDP growth expected to hit 2.9 per cent from 1.1 per cent last year, expanding at the fastest rate since 2015, according to The Institute of Chartered Accountants in England and Wales (ICAEW)’s latest report Economic Insight: Middle East Q1 2018.






March 2018

The food and beverage (F&B) sector in the Gulf Cooperation Council (GCC) states is expected to continue to grow at a healthy 7.1 per cent annually, said a report. The sector is expected to reach $196 billion by 2021, from the current $130 billion, according to Mena Research Partners, a leading research company in the region.






March 2018

Bahrain's aluminium industry will account for 15 to 16 per cent of the kingdom’s gross domestic product (GDP) with the beginning of the commercial operations of Aluminium Bahrain’s (Alba) brownfield Line 6 Expansion Project next year, a top official said.






March 2018

Saudi Arabia's industrial boilers market revenues are projected to grow at a CAGR (compound annual growth rate) of 5 per cent over the next six years, said a report. The rapid industrialisation as well as increasing emphasis on development of downstream petroleum sector is likely to spur this market growth, according to 6Wresearch.






March 2018

Sharjah-based Elan Incorporated, a leading polymer based industrial packaging company, is setting up a production facility for tight head and open top steel drums of up to 220 litres capacity for the petrochemical and chemical industries in UAE.






March 2018

Hira Walraven, a joint venture between Hira Industries and Dutch manufacturer of pipe support systems Walraven, said its fixing systems division has opened a new facility at National Industries Park (NIP), thus consolidating its presence in the UAE.






March 2018

The UAE-based Simco Industrial Machinery, a leading aluminium, woodworking and steel machinery importer, exporter and supplier, will expand its operations into Oman and Kuwait as part of its Gulf-wide expansion.






March 2018

Khalifa Industrial Zone of Abu Dhabi (Kizad) has signed an agreement with Shaheen Chem Investment for the land lease of a two-phase chemical complex in the industrial zone with an expected investment of Dh4 billion ($1.08 billion).






March 2018

The Bahrain Economic Development Board (EDB) announced a record year for inward investment in 2017, having attracted 71 new companies to Bahrain with investments amounting to BD276 million ($733 million).






March 2018

$72bn projects in Kuwait KUWAIT is set to launch 20 major development projects worth KD21.7 billion ($71.6 billion), including a railway network project and waste management plant, as part of its 2018-2019 development plan, said a report.






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