Company News

Raysut Cement raises RO 4m claim for Mekunu damage & ship loss

(Oman Daily Observer - 7/16/2018 7:19:00 AM)

Salalah-based Raysut Cement Company, the Sultanate’s largest cement producer, has announced the loss of one of its ships in the wake of Cyclone Mekunu’s devastating sweep of Dhofar Governorate in May. Raysut II, one of two cement carriers owned by ...

Sipchem launches innovation club in Dhahran

(Trade Arabia - 7/16/2018 7:10:00 AM)

Sipchem has launched its innovation club ‘Sipchem Tech’ in Saudi Arabia with the aim of building the capabilities of the youth in various fields, including artificial intelligence (AI), programming, 3D printing and robotics.

The Sipchem Tech, ...

Zain Bahrain signs high-speed net deal with Jashanmal

(Trade Arabia - 7/16/2018 7:09:00 AM)

Zain Bahrain, a leading telecommunications provider in the kingdom, has announced a new enterprise agreement with Jashanmal through providing a high-speed internet service to Jashanmal’s nine department stores in Bahrain.

The partnership was ...

Saudi builder Al Khodari renews Islamic credit deal

(Trade Arabia - 7/16/2018 7:06:00 AM)

Saudi Arabian construction firm Abdullah Abdul Mohsin Al Khodari and Sons has announced the renewal of Islamic credit agreement with Riyad Bank, a leading financial institution in the kingdom.

The SR231.4 million ($61.6 million) funding will be ...

Nakheel announces opening of key phase of $109m road project

(Trade Arabia - 7/16/2018 7:04:00 AM)

Master developer Nakheel has announced the opening of Phase One of a Dh400-million ($109 million) roads scheme being developed by Dubai's Road and Transport Authority (RTA) at International City.

The project, funded by Nakheel to the tune of ...

Aldar's Abu Dhabi waterfront projects on track

(Trade Arabia - 7/16/2018 7:03:00 AM)

Leading UAE developer Aldar Properties said work is progressing well on all its projects at Yas Island in Abu Dhabi with the delivery of the first 300 homes under way at the island’s first villa community.

Giving the latest quarterly update on ...

DU catalyzes its digital transformation journey

(Saudi Gazette - 7/15/2018 8:28:00 AM)

du, from Emirates Integrated Telecommunications Company (EITC), in collaboration with Cisco, on Friday unveiled a white paper outlining its transformational journey towards becoming an ‘ICT service provider’ by 2021. Titled ‘EITC Infrastructure Outlook ...

KIB closing its $250 mln Murabaha

(Arab Times - 7/15/2018 7:13:00 AM)

KIB held an exclusive ceremony to mark the occasion of the Bank’s successful closing of a $250 million 3-year syndicated Murabaha financing facility. This landmark financing was concluded with a consortium of international and local banks viz; Standard ...

BMW partners with SABB to empower women drivers

(Saudi Gazette - 7/12/2018 8:19:00 AM)

Mohamed Yousuf Naghi Motors (MYNM), the official BMW Group importer in Saudi Arabia, recently partnered with SABB (Saudi British Bank) to host two female-only events with the aim of empowering women through educating them with the required information ...

Drake & Scull confirms financial violations by previous management

(The National - 7/12/2018 8:12:00 AM)

Dubai contractor Drake & Scull International said its former management was involved in “material” financial violations that are currently under investigation by the designated UAE authorities.

The company confirmed earlier reports about the ...