Regional News
May 2017

Aluminium Bahrain (Alba), a leading global aluminium smelter, posted a net income of BD25.6 million ($68 million) in the first quarter of 2017, compared to BD4.2 million ($11 million) in Q1 2016, a 506 per cent increase year-on-year (YoY). Alba’s total sales for the first quarter of 2017 jumped by 22 per cent YoY to reach BD190.






May 2017

The government of Ras Al Khaimah has launched the Ras Al Khaimah Economic Zone (Rakez), a world-class authority established to oversee, regulate and consolidate the services and facilities of its free zones. The free zones include Ras Al Khaimah Free Trade Zone (RAK FTZ) and RAK Investment Authority (Rakia).






May 2017

Abu Dhabi Ports has announced that its Khalifa Port Free Trade Zone will open to European markets, revealing details to an international audience during the sixth annual UAE Business and Investment Forum at Hannover Messe, Germany.






May 2017

The Sharjah Economic Development Department (SEDD) has launched an industrial guide project as part of its 2017 strategic plan to develop the industrial sector and ease its procedures in the emirate, in addition to Sharjah holding the largest industrial base in the country and the region, said a report.






May 2017

Russia and Saudi Arabia will launch joint projects worth $3 billion by the end of the year, speaker of Russia’s Federation Council said on Monday, according to a media report. Valentina Matviyenko was speaking at a meeting with members of the Russian-Saudi Business Council, the official Russian news agency TASS reported.






May 2017

Saudia Dairy and Foodstuff Company (Sadafco), a leading dairy and foodstuff producer, said it has received two certifications in recognition of its uncompromised quality standards maintained across the manufacturing facilities.






May 2017

Power generation capacity in the Mena countries will have to rise by almost 150GW to reach 440GW by 2020, an increase of just over 50 per cent on the current available capacity of 290GW, to meet the demand created by population growth coupled with industrial and economic expansion, a report said.






May 2017

Adnoc Distribution is investing Dh750 million ($204 million) in a fuel depot located at the new Midfield Terminal of Abu Dhabi International Airport, according to Saeed Mubarak Al Rashdi, acting chief executive officer of Adnoc Distribution.






May 2017

ZonesCorp, the largest developer and operator of purpose-built industrial zones in the UAE, said it has signed four new deals with companies to build facilities in Al Ain Industrial City (AAIC). These new projects represent a combined investment of approximately Dh51 million ($13.8 million) and cover a total area of nearly 60,000 sq m.






May 2017

GAC Dubai wins award GAC Dubai’s world-class service to the Middle East’s busy fast moving consumer goods (FMCG) sector has earned it the FMCG Supply Chain Management Award in this year’s Logistics Middle East Awards.






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