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$69bn deal: Aramco buys 70pc stake in Sabic

Saudi Aramco has announced the signing of a share purchase agreement to acquire a 70 per cent majority stake in Saudi Basic Industries Corporation (Sabic) from the Public Investment Fund of Saudi Arabia, in a private transaction for SR259.125 billion (or SAR 123.39 per share), which is equivalent to $69.1 billion. The remaining 30 per cent publicly...

Alba successfully starts 25pc of Line 6 pots

Aluminium Bahrain(Alba), soon to be the largest aluminium smelter in the world, announced that it ha ...

$120m chemical unit to be set up in Salalah

Oman's Deepak Oman Industries Project has laid the foundation for its $120 million integrated ch ...

Bahrain’s Unirol opens $30m new plant

Universal Rolling (Unirol), Bahrain’s leading producer of high-quality reinforcement steel bar ...

German firm wins deal to build Saudi olive oil mill

German company GEA said it has won a €3 million ($3.4 million) contract from National Agricultu ...





DHL appoints country managers for Iraq, Turkey

DHL Global Forwarding, a leading international provider of air, sea and road freight services, has appointed Usam Alyasin and Ingo-Alexander Rahn as country managers in Iraq and Turkey, respectively. Both of them will report to Amadou Diallo, chief executive officer, DHL Global Forwarding Middle East and Africa, said a statement. Diallo said: “The...

Continental names new managing director for MEA

CONTINENTAL, a leading German tyre and automotive technology company, has appointed Karel Kucera to ...

Turner & Townsend to head natural resources division in Mena

Global professional services company Turner & Townsend has appointed David Hancox to lead its na ...

BMDS appoints new CFO

Bahrain Maintenance & Diving Services (BMDS), one of the leading providers of industrial diving, ...





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