Empower records $44 m net profit
(Trade Arabia
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29/02/2012)
Leading provider of district cooling services, Empower, has a recorded net profit of Dh162 million ($44.11 million) for the fiscal year ended December 2011, representing a 25 per cent increase over 2010. The company’s total revenues reached Dh670 million
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DED shares business registration practices with law firms in Dubai
(AME Info
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29/02/2012)
The Business Registration and Licensing (BRL) Division of the Dubai Department of Economic Development (DED) recently organised a workshop on the business registration system for representatives of law firms in Dubai. The initiative was intended to
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Ducab sales surge 39pc to $1.33bn
(Trade Arabia
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29/02/2012)
Ducab, one of the leading manufacturers of high-quality power cables in the Middle East, has announced record sales of Dh4.9 billion ($1.33 billion) for 2011, up 39 per cent over the previous year. Announcing the results on Wednesday, Ducab chairman
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Khalifa Port set to open this year
(AME Info
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29/02/2012)
Abu Dhabi Ports Company (ADPC) has announced the arrival of the first batch of Super Post Panamax 'Ship to Shore' (STS) container cranes at Khalifa Port. This marks a significant milestone for Khalifa Port as it readies for Phase 1 completion at the same
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Saudi power output to top 120GW by 2030
(Trade Arabia
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29/02/2012)
Extensive industrial development across Saudi Arabia is set to boost the Kingdom's total power production capacity to more than 120 gigawatts by 2030, said an expert ahead of a major energy event in Riyadh. The 15th edition of Saudi Energy – The
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EQUATE 2011 net profits tops USD 1 bln
(KUNA
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29/02/2012)
EQUATE Petrochemical Company announced Wednesday a net profit of USD 1.05 Billion for the fiscal year ending December 31st, 2011, a 20 percent increase compared to the previous year. "These profits were realized due to operational excellence at all
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Empower plans Dh500m loans for future projects
(Khaleej Times
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29/02/2012)
Emirates Central Cooling Systems Corporation, known as Empower, plans to take Dh500 million in new bank loans to fund its future projects, chief executive officer Ahmed Bin Shafar said. Dubai’s leading district cooling company’s funding options included,
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Rising price of oil to hit tickets at Emirates Airline
(The National
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29/02/2012)
Emirates Airline will tomorrow add a fuel surcharge as high as Dh610 (US$166) per ticket to compensate for the rapidly rising price of oil. The surcharge will add Dh60 to economy tickets on routes from the UAE to destinations in the Middle East and
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Saudi Energy ’12 to brighten up Kingdom’s rising power demand
(Saudi Gazette
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29/02/2012)
Extensive industrial development across the Kingdom of Saudi Arabia is expected to drive up electricity demand to an estimated 67,000 megawatts by 2020. Six major economic cities currently being built across the Kingdom at a cost of more than $60 billion
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Boom in credit for Saudi Arabia
(The National
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29/02/2012)
Private-sector credit growth in Saudi Arabia accelerated at its fastest rate in more than two and half years last month as the kingdom's banks benefit from government injections of cash into the economy. Expansion rose 11.7 per cent compared with January
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Mortgage system the solution to rising demand for housing in Gulf
(Saudi Gazette
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29/02/2012)
Amid critical shortage of houses for the rapidly growing population in the six Gulf Cooperation Council (GCC) countries, mortgages are seen as indispensable for broadening access to housing, which historically, acquisition depended heavily on
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Kuwait's January M2 money supply growth at 2-year high
(Al Watan
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29/02/2012)
Kuwait's M2 money supply growth accelerated to a two-year high of 9.8 percent year-on-year at the end of January from 8.5 percent in the previous month, the country's central bank data showed on Tuesday. Bank lending growth to the private sector slowed
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Kalaam Telecom sets up key link
(Gulf Daily News
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29/02/2012)
Kalaam Telecom Bahrain has installed a backbone link connecting Bahrain Financial Harbour (BFH) to its network operating from Almoayyed Tower. "The installation further entrenches Kalaam's commitment to providing alternative telecom solutions to
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Etihad set to launch flights to Basra in April
(Khaleej Times
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29/02/2012)
Etihad Airways will launch flights to Basra in southern Iraq from mid-April. Basra becomes the 84th destination in the carrier’s global network and the third city it flies to in Iraq. Etihad already operates services to the capital, Baghdad, and Erbil in
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Broader UAE-Pak ties eyed
(Khaleej Times
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29/02/2012)
Pakistan seeks the revival of a mega refinery project in Balochistan after the UAE’s concerns over its investment in Pakistani projects are settled amicably in the coming weeks, a top government official said. The two sides expressed the desire at the
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DP World Southampton sets new record
(Khaleej Times
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29/02/2012)
DP World chairman Sultan Ahmed bin Sulayem has welcomed a new productivity record set for vessel handling operations at DP World Southampton, and expressed his pleasure with the progress of construction at London Gateway — the new global shipping port
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Asry spends $7m to spur workforce
(Gulf Daily News
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29/02/2012)
A strategic policy of investing in the nation's workforce by Asry has reached a total spend of $7 million (BD2.6m) in five years, with more planned. One of Asry's specific initiatives in this period of reinvestment is commitment to Bahrainisation. "Asry
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RAK Hospitality, Rixos sign deal
(Khaleej Times
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29/02/2012)
The iconic Turkish hospitality, Rixos Hotels, extends its legacy to the emirate of Ras Al Khaimah, with the first “All inclusive concept” of this magnitude of this in the UAE, Rixos Bab Al Bahr. The project signifies the second property of Rixos Hotels
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Dubai Exports helps in Dh3b transactions
(Khaleej Times
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29/02/2012)
Dubai Exports, the export promotion agency of the Department of Economic Development, said on Tuesday that the total value of exports it facilitated in 2011 crossed Dh3 billion. With exporters in Dubai continuing to penetrate new markets and diversify
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Saudi Arabia has huge potential for green initiatives
(Arab News
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29/02/2012)
A German state minister says he finds Saudi Arabia a fertile land for initiating green projects. Aside from the ongoing bilateral ties covering trade, investments and joint ventures with transfer of technology and training, “one interesting field of
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ISO boost for Ramsis
(Gulf Daily News
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29/02/2012)
QMF Global Consultants has awarded the internationally-recognised ISO and OHSAS 18001 certification to a top engineering firm in Bahrain. QMF Global, the leading consultants providing quality assurance services to small and medium enterprises and
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The first annual foreign investors’ forum opened in Jeddah
(Arab News
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29/02/2012)
The first annual foreign investors’ forum opened with the participation of 700 participants and government officials in Jeddah yesterday. The event, organized by the Foreign Investment Committee (FIC) of the Jeddah Chamber of Commerce and Industry (JCCI)
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UAE set to allow foreign ownership in some areas
(Khaleej Times
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29/02/2012)
The UAE will allow foreign ownership of companies in selected areas of the economy, as already 17- free zones operating in the country allowed 100 per cent ownership, said Abdullah Salem Al Turifi, chief executive of Stocks and Commodities Authority.
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Value of Dubai exports exceeded AED3 billion in 2011
(Arab News
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29/02/2012)
The total value of exports out of Dubai realized through Dubai Exports, the export promotion agency of the Department of Economic Development, crossed AED3 billion in 2011, as exporters in Dubai continued to penetrate new markets and diversify their
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Expo 2020 drive launched
(Khaleej Times
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29/02/2012)
The UAE on Tuesday launched the country’s campaign to host the 2020 World Expo in Dubai and the emirate is ready to invest as much as $4 billion to build the infrastructure for the prestigious event that takes place once every five years. Following an
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