Kuwait City: Kuwait Airways plans to buy 12 Boeing Co and seven Airbus planes from Kuwait’s Aviation Lease and Finance Co (Alafco) for about $3 billion, a Kuwait Airways official said yesterday. The state-owned airline, which is looking to spend as much as $6 billion to replace its ageing fleet, will order the aircraft from …
Athens: Egypt is set to see record net foreign direct investment flows of more than $10 billion in the current fiscal year ending June, the country’s investment minister said yesterday. Speaking in Athens, Mahmoud Mohieldin also said the country’s inflation was high but the government was working with the central bank to achieve the inflation …
Lire la suite Egypt poised to receive record net FDI this year
Amman: Arabian Cement is eyeing acquisitions in Africa and the Middle East as it prepares to start construction of its first cement plant outside Saudi Arabia – a $400 million project in Jordan, its chief executive said. « We are looking at any opportunity to construct a cement factory and seize the chance by focusing on …
Lire la suite Arabian Cement makes move to expand abroad with Jordan plant
Dubai: The Dubai Mercantile Exchange, the Middle East’s first energy futures and commodities exchange, went live yesterday with the Oman crude oil futures contract. Trading began at 2am yesterday at DME, a joint venture between Tatweer, a member of Dubai Holding, the New York Mercantile Exchange (Nymex) and the Oman Investment Fund (OIF). Preparations for …
Lire la suite DME goes live with Oman crude futures contract
Abu Dhabi The UAE’s response to global warming begins at home. Last month the Abu Dhabi Future Energy Company (Masdar) launched a $5 billion initiative to establish the world’s first totally green city in Abu Dhabi. The development extending over six square kil-ometres plans to achieve zero carbon dioxide emissions and zero waste and includes …
Tunis: Tunisia’s Energy Ministry awarded Qatar-state owned Qatar Petroleum Company a $2 billion refinery deal, ministry and company officials said yesterday. « We are happy today to sign the agreement with Tunisia to construct a refinery whose capacity is about 150,000 barrels per day », Abdullah Hamad Attiyah, Qatar’s vice prime minister and minister of Industry, said …
Lire la suite Qatar wins $2b Tunisia contract to build refinery
Dubai: Dubai is planning to build one of the world’s largest power and desalination complexes, a multibillion dollar plant that would produce nearly as much power as New York City’s total generating capacity. The new plant would be capable of producing 9,000 megawatts of electricity and 600 million gallons a day of desalinated water, Dow …
Lire la suite Dubai plans to build giant power and water project
Dubai: Emirates Bank yesterday said the Dh292 million facility for Emirates Float Glass (EFG) has been successfully closed, and oversubscribed. Emirates Bank is the mandated lead arranger, and bookrunner for the transaction. Participating banks are Abu Dhabi Commercial Bank, Lloyds Bank and Commercial Bank of Dubai as lead arrangers and Union National Bank as co-arranger. …
Lire la suite Dubai : Emirates Bank completes funding of Dh292m for float glass plant
Staff Report Dubai: Al Yah Satellite Communications Company (Yahsat), a wholly-owned subsidiary of Mubadala Development Company, has selected a consortium of EADS Astrium, Thales and Alenia Space as the preferred bidder to build a Dh5 billion dual satellite communications system, the company said in an e-mailed statement. Yahsat was incorporated earlier this year and is …
Lire la suite Europe group chosen for Dh5b Yahsat satellite deal
Staff Report Dubai: Real estate firm Deyaar’s Dh3.178 billion initial public offering (IPO), the largest public issue so far, has been oversubscribed more than 14 times, an e-mailed statement said. The issue, which closed on May 16, attracted over 85,000 subscribers, collecting over Dh45 billion. Shuaa Capital is the lead manager, financial advisor and sole …
Lire la suite Deyaar’s IPO oversubscribed 14 times on strong investor interest
