Regional News
August 2020

Saudi Arabia's economy is expected to grow at an average rate of around 3 per cent during 2021-24, nearly double the average during 2015-19 (1.6 per cent) but lower than the 4.1 per cent growth rate recorded during 2005-14, Moody's Investors Service said in an annual report. Moody’s expects real GDP to decline by 4.






August 2020

Saudi Ports Authority (Mawani) said it has signed an agreement with the Saudi Agricultural and Livestock Investment Company to develop the kingdom’s largest and first grain terminal in Yanbu Commercial Port.






August 2020

The Middle East is a key producer and supplier of polyolefins to demand-rich markets, specifically Asia. The region’s polyolefin exports account for around one-third of global polyolefin trade.






August 2020

Saudi Arabia has sold two flour mills for a total consideration of SR2.777 billion ($740.38 million) under the first phase of the kingdom's flour milling sector privatisation programme.






August 2020

The implementation of a generic medicine framework (legislation) in Saudi Arabia can result in an estimated decrease of 35 per cent to 40 per cent, equivalent to SR10 billion ($2.66 billion), in medication spending annually, according to a new report report released by Bupa Arabia for Cooperative Insurance.






August 2020

Union Coop, the largest consumer cooperative in the UAE, opened ‘Coop Factory’ – one of the largest commodity warehouses in the Middle East and its wholesale branch to sell food and non-food commodities.






August 2020

Aluminium Bahrain (Alba), the world’s largest aluminium smelter ex-China, has reported a loss of BD10.6 million ($28.3 million) for the first half of 2020, down by 44 per cent year-on-year (YoY) versus a loss of BD19.1 million ($50.9 million) for the same period in 2019.






August 2020

Oman's Public Establishment for Industrial Estates (Madayn) has officially begun work on the establishment of the Ibri Industrial City in the Al Dhahirah governorate over a 10-million-sq-m area. Work is currently under way to develop the masterplan for the industrial city through the appointed consultancy company.






August 2020

The Abu Dhabi National Oil Company (Adnoc) said it has signed a joint venture agreement with its holding company ADQ to create a new investment platform to fund and oversee the development of industrial projects within the planned Ruwais Derivatives Park, a key enabler of Adnoc Downstream’s 2030 smart growth strategy and the UAE’s chemi






August 2020

Abu Dhabi Ports, an ADQ company, has been assigned as the primary custodian of all of Abu Dhabi’s waterways and marine ecosystems, through the creation of Abu Dhabi Maritime. The move is designed to fortify Abu Dhabi’s position as a world-leading centre for maritime activities, said a statement.






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