Asry names chief executive
BAHRAIN-based Arabian Shipbuilding and Repair Yard (Asry) has appointed Magdy Mustafa as its acting chief executive. The new appointment follows the resignation of the current chief executive for family reasons, said a statement from the company. Mustafa, the current procurement and contracts general manager, takes on all chief executive duties in addition to his current role, effective from September 1.
Mustafa began working at Asry in 1978, and is one of the most experienced employees of the company after 38 years in a variety of roles.
Raysut upgrades gas station
OMAN’S Raysut Cement, a leading cement producer, is currently upgrading its gas supply station at its plant in Salalah, to enable the facility to receive an additional 40,000 cubic metre of gas per day as fuel.
Upon completion of the upgrade, production capacity of cement will rise to about 130,000 to 140,000 metric tonnes per annum, Ahmed bin Yousuf bin Alawi al Ibrahim, chairman of the board of directors said. The upgrade is one of several expansions underway across the group’s domestic and international assets.
Electronics accessories to rise
THE Middle East electronics accessories market revenue is projected to increase from $572 million in 2014 to $1 billion by 2025, driven by the rapid increase in the demand of electronic devices, said a report by Future Market Insights, a market research and consulting firm.
In terms of value, the Middle East electronics accessories market is projected to register a compound annual growth rate (CAGR) of 5.4 per cent during the forecast period, said the report. Besides, the market is projected to register a CAGR of 6.5 per cent in terms of volume during the forecast period.
Al Namal, Zamil AC sign deal
AL NAMAL Group, one of Bahrain’s leading diversified companies, has signed an agreement with Zamil Air Conditioners for the supply of air-conditioning solutions at the Atrium Mall, an upcoming project in the kingdom’s Northern Governorate. The Atrium Mall will be the largest shopping mall in the Northern Governorate of the kingdom. The $30-million mall is expected to be completed by the end of 2017.
