GCC rail project delayed over 'technical problems'
The GCC's ambitious multibillion-dollar railway project connecting all the six states is likely to be delayed because of infrastructural and technical problems, said a report, citing a senior government official.
LG introduces ACs with inverter technology for homes
LG Electronics (LG), along with its exclusive distributor Al Yousuf, has launched across the UAE its latest state-of-the-art residential air conditioning (AC) solutions.
Terex delivers rough terrain telehandler to Omani army
Terex Corporation, a global manufacturer of lifting and material processing products, has successfully delivered its Genie GTH-4018 high-reach, rough terrain telehandler to Oman's military.
Miral opens Ferrari World Abu Dhabi turbo track
UAE-based Miral, which oversees the development of Yas Island, has officially launched the rollercoaster 'Turbo Track' at Ferrari World Abu Dhabi. With this new ride, the theme park’s portfolio has expanded to 37 rides and attractions.
Banque Saudi Fransi inks desalination projects deal
State-owned Saline Water Conservation Corporation (SWCC) has awarded a financial advisory mandate to Banque Saudi Fransi (BSF) for two greenfield projects, said a report.
LXA to design third Wagamama outlet in Saudi Arabia
LXA (formerly Luxe Interior), a major interior design, project management and development company, said it has been signed up by Pan-Asian inspired eatery Wagamama to design its third outlet in Saudi Arabia.
Mubadala 2016 profit grows twofold to $898m
MAJOR REVENUE BOOST
UAE-based Mubadala Development Company, said its net profit for 2016 more than doubled to Dh3.3 billion ($898 million) from Dh1.2 billion ($326 million) the previous year, mainly driven by revenue growth from its diversified portfolio.
Egypt's new capital city project on track
The infrastructure-related work at Egypt's new capital city is progressing well with new roads and waste water networks in the residential and ministerial districts likely to be completed by mid-2018, said a report.
Saudi cement sales may slide further
Cement sales in Saudi Arabia continue to remain weak and recent data could indicate further downward revision to market estimates of demand and sector earnings for 2017, a report said.
ZonesCorp unveils plan for prefab units
ZonesCorp, a leading developer and operator of purpose-built industrial zones in the UAE, has unveiled a new development designed to support the growth of small and medium-sized enterprises (SMEs) in Abu Dhabi, UAE.
Dewa inks smart grid deal with Silver Spring
Dubai Electricity and Water Authority (Dewa) has entered into an agreement with Silver Spring Networks International to establish a communication platform for smart grid applications.
Arab Contractors wins $561m Kuwait road work
Egypt's Arab Contractors Company has won a KD170-million ($561.4 million) contract from the Kuwait Ministry of Public Works to develop a major road in the capital. The project work is due for completion in 2020.