Monday 24 July 2017

Alba’s H1 net income surges 111pc to $115 million

Aluminium Bahrain (Alba) has posted a net income of BD43.3 million ($115.2 million) for the first half of 2017 versus BD20.5 million ($54.5 million) for the same period in 2016, marking an increase of 111 per cent. The company generated a net income of BD17.7 million ($47.1 milli


Iraq Container Terminal receives its largest vessel

Gulftainer’s Iraq Container Terminal (ICT) facility recently received the largest container vessel to call at Iraqi ports to date. The vessel, YM Wealth, is deployed by Taiwan-based shipping line Yang Ming Marine Transport Corporation. On her maiden call to ICT, the 5,551 T


Meethaq to provide Islamic finance to OMPC

Oman-based Meethaq, the Islamic banking unit of Bank Muscat, recently signed an agreement to provide Islamic finance to the Oman Munition Production Company (OMPC) set up by the Ministry of Defence, said a report. Mohammed bin Nasser bin Mohammed al Rasbi, chairman of OMPC, and S


Iran planning major petchem contracts with Total, Shell

Iran is preparing contracts with French Total and Royal Dutch Shell to implement petrochemical projects, a senior Iranian official said in a report. The parties are negotiating the final issues for the contracts, Marzieh Shahdaei, head of Iran's National Petrochemical Company


PharmaPlast plans new factory in Egypt

Egypt-based PharmaPlast, a pharmaceutical company operating in Alexandria’s general free zone, recently announced its plans to establish a new factory in the Industrial Borg El-Arab City in 2018, said a report. The company began the implementation of the first phase of the


Qurain Petrochemical net profit up 24pc in Q1

Kuwait-based Qurain Petrochemical Industries Company (QPIC) has reported a net profit of KD6.17 million ($20.23 million) for the first quarter of 2017-18, representing a 24 per cent increase over the same period last year (KD4.98 million). The earnings per share (EPS) for the qua


Alba launches summer safety campaign

Aluminium Bahrain (Alba), the Bahrain-based international aluminium smelter, has launched its Summer Safety Challenge campaign. Aimed at raising safety awareness during summer, the campaign unveiled three areas of focus: stop lost time injuries (LTIs); decrease injuries; and have


Canon Middle East launches LCOS projector

Canon Middle East, world leader in imaging solutions, has launched the Xeed WUX500ST – a compact, efficient and versatile liquid crystal on silicon (LCOS) projector. Featuring 5,000 lumens colour brightness, built-in HDBaseT and a 75 per cent vertical lens shift, it’s


Manateq to offer investment opportunities for private firms

Qatar’s Special Economic Zones Company (Manateq) is set to announce huge business and investment opportunities for private companies, including for those keen to invest in the country’s booming hospitality and logistics industries, said a report. Manateq is the state-


Al Sharqi Shipping wins CMA CGM award

UAE-based Al Sharqi Shipping, a leading logistics service provider in the region, recently received the ‘Top Customer Award’ for the year 2016 from France’s leading global shipping group CMA CGM. This recognition marked Al Sharqi's fourth consecutive win wit

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