Regional News
April 2018

The Gulf Cooperation Council (GCC) region witnessed another year of disappointing economic performance in 2017 but growth should improve in 2018 and 2019, according to the World Bank’s biannual Gulf Economic Monitor. The region eked out growth of just 0.5 per cent in 2017 – the weakest since 2009 and down from 2.






April 2018

Bahrain-based Gulf Petrochemical Industries Company (GPIC) has revealed that it exceeded all its production targets for 2017, including the highest daily production of urea (2,055 metric tonnes). The company also set a new monthly production record for methanol (62,300 metric tonnes).






April 2018

Saudi Aramco, Saudi Arabia’s oil giant, announced commercial cooperation deals worth over $10 billion with 14 American companies at the Saudi-US CEOs Forum in New York. Saudi Aramco participated in the forum to promote bilateral business and cooperation between the two countries.






April 2018

Aluminium Bahrain (Alba), an international aluminium smelter, was recently honoured with the ‘Human Resources (HR) Excellence Award’ by the Fifth Arab Gulf Forum for its human resources development.






April 2018

Bahrain’s labour fund Tamkeen and Ahli United Bank (AUB) have signed a BD40-million ($106.08 million) portfolio to provide subsidised financing to eligible medium and large-sized enterprises in Bahrain.






April 2018

SirajPower, a Dubai-based joint venture devoted to net metering and providing comprehensive turnkey solutions around solar rooftops in the UAE, has signed a new partnership with Al Abbar Aluminium, a leading family-run GCC façade company.






April 2018

The construction work to build a major shipyard on Saudi Arabia’s eastern coast is under way with dredging and associated activities in progress, a partner in the venture has said.






April 2018

Senior officials from the UAE and Botswana recently discussed ways to further strengthen bilateral relations between the countries by developing vital sectors like trade and investment.






April 2018

The Public Establishment for Industrial Estates (PEIE) in cooperation with Oman Chamber of Commerce and Industry – Al Buraimi recently organised an open meeting between Hilal bin Hamad Al Hasani, chief executive officer of PEIE, and the investors and industrialists in Al Buraimi governorate in Oman.






April 2018

LG Electronics has released its new Multi V 5 variable refrigerant flow (VRF) solution in Abu Dhabi, UAE.






April 2018

DUBAI-based global marine terminal operator DP World has revealed strong financial results for the 12 months ending December 31, 2017, which saw the company deliver earnings in excess of $1.2 billion. On a reported basis, revenue grew 13.2 per cent to $4.715 billion and adjusted EBITDA increased 9.1 per cent to $2.






April 2018

DP World won a 30-year concession with an option of a further 20-year extension for the management and development of a greenfield multi-purpose port project at Banana, Democratic Republic of the Congo (DRC).






April 2018

APM Terminals Bahrain, the operator of the Khalifa Bin Salman Port (KBSP) in Bahrain, has firmed up its plans to launch an initial public offer (IPO) for the port by the end of the current year, a top official at APM Terminal said.






April 2018

GE Aviation has opened its ‘On Wing Support Centre’ in Dubai South’s Aviation District Aerospace Supply Chain Facility, marking the expansion of the company’s engine repair services in one of the world’s leading aviation hubs, said a report.






April 2018

Total exports of US hardwood lumber and veneer to the Middle East and North Africa (Mena) region including Pakistan reached $96.74 million during 2017, according to a statement issued by the American Hardwood Export Council (AHEC), the leading international trade association for the American hardwood industry.






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