Commercial Services - News
Kuwait’s Agility Q3 net profit rises 8pc
(Reuters - 13/11/2014)
Kuwait’s Agility, the largest Gulf Arab logistics group, posted an eight percent increase in third-quarter net profit yesterday, as earnings from its infrastructure operations offset declines in its core logistics business. The firm made a profit of ...
RENAISSANCE 9M NET PROFIT FLAT AT RO17MN
(Muscat Daily - 12/11/2014)
Renaissance Services reported a net profit of RO17.1mn for the nine-month period ended September 30 which came in flat over the same period last year, when the company’s net earnings stood at RO17.2mn. Total revenue came in marginally higher at ...
Agility eyeing airline stake
(Gulf Daily News - 07/11/2014)
Kuwaiti logistics firm Agility is interested in competing to buy a 35 per cent stake in loss-making state carrier Kuwait Airways, local news service Al Rai quoted Agility's chief executive as saying. Tarek Sultan said in an interview that Agility's plan ...
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 ...
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