Commercial Services - News
UAE utility Tabreed reported a 28% rise in third-quarter net profit
(Gulf Times - 24/10/2014)
UAE utility Tabreed reported a 28% rise in third-quarter net profit yesterday as revenue increased and it cut finance costs. The Dubai-listed firm made a net profit of 95.86mn dirhams ($26.1mn) in the three months ending September 30, up from 75.11mn ...
Kuwait’s Agility hopes for revenue rebound
(Arab News - 22/10/2014)
Revenue at Kuwait-listed logistics company Agility is expected to resume growing next year as emerging markets business expands and the company develops new sectors, Chief Executive Tarek Sultan said. With more than 20,000 employees and over 500 offices ...
Renaissance awards Duqm construction contracts
(Times of Oman - 01/10/2014)
Renaissance Services has awarded the two main construction packages for the Duqm permanent accommodation for contractors (PAC) project to S&T and Al Hajiry. With investment worth OMR100, Renaissance Services and its partners believe the accommodation ...
Agility signs MoU with Etihad Rail
(The Gulf Today - 25/09/2014)
Agility has signed a Memorandum of Understanding (MoU) with Etihad Rail, the developer and operator of the UAE’s national railway network. The agreement will enable Agility to use Etihad Rail’s services for distribution in the UAE and the Gulf ...
Renaissance to revive listing plans for Topaz oilfield arm
(Gulf Times - 14/09/2014)
Oman’s Renaissance Services has revived plans to list its oilfield services business Topaz, more than three years after pulling a share sale in London, sources have said. Dubai-based Topaz Energy and Marine, one of the biggest oil services companies in ...
StanChart fund to invest $75m in Renaissance unit
(Times of Oman - 21/08/2014)
Renaissance subsidiary Topaz Energy and Marine (Topaz), a leading offshore support vessel company with primary operations in the Caspian, Middle East, West Africa and Subsea operations in the North Sea and Gulf of Mexico, yesterday announced a $75 ...
Renaissance plans to offload less than 10 per cent stake in Topaz
(Times of Oman - 12/08/2014)
The board of directors of Renaissance Services is considering divesting less than 10 per cent stake in Topaz Energy and Marine (Topaz) in favour of a business house, the company said in its first half yearly results. Topaz Energy and Marine is a ...
Kuwaiti Agility posts KD12.9m profits in Q2
(The Peninsula - 11/08/2014)
Kuwaiti Agility company has realised a net profit of KD12.9m ($45.58m) in the second quarter of 2014, marking a rise of 12 percent compared to the responding period in 2013, the company said. Earnings-per-share hit 11.7 fils. Announcing the company’s ...
Tabreed-MIP consortium acquires Dh1.05b cooling contract
(Khaleej Times - 11/07/2014)
The transaction involves the acquisition of the existing district cooling provider to Al Maryah Island. A consortium comprising the National Central Cooling Company (Tabreed) and Mubadala Infrastructure Partners (MIP) announced that it has acquired a ...
Tabreed wins $286m cooling services contract
(Reuters - 10/07/2014)
UAE's Tabreed is heading a consortium that has acquired a concession to provide district cooling services in Abu Dhabi worth 1.05 billion dirhams ($285.9 million), the firm said on Thursday. The 30-year contract involves buying the existing district ...
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