• United Arab Shipping embarks on $2bn expansion drive

    INVESTMENT IN BIGGER SHIPS
    United Arab Shipping Company (UASC) is on a major expansion drive, investing more than $2 billion in bigger ships and forming alliances with peers to boost efficiencies and ride out tough markets.

  • Agility sees solid revenue growth in 2015


    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, said its chief executive Tarek Sultan.

  • Drydocks wins major rig repair contract


    Dubai's ship building unit Drydocks World said it has won a contract from Shelf Drilling, a major player in the shallow water drilling market and owner of 40 rigs worldwide, to carry out the drydocking and repairs of its jack-up.

  • BASF cuts forecasts on Europe sales woes


    Germany's BASF, the world's largest chemicals company by sales, cut its earnings forecasts and its projections for the broader market, becoming the latest industrial group to fall victim to weak demand in its main European market.

  • Engineering specialist Roper ME opens in Dafza


    Dubai Airport Freezone Authority (Dafza) has welcomed Roper Middle East, a leading provider of engineered products and solutions for global niche markets, to its roster of high-profile multinational corporate clients.

  • Yokogawa unveils new low-power pressure transmitters


    Yokogawa Electric Corporation has developed a new low-power version of the DPharp EJA-E series differential pressure/pressure transmitter.

  • Alafco to spend $600m buying aircraft over two years


    Kuwait's Aviation Lease & Finance Co (Alafco) plans to spend about $600 million buying 15 new aircraft over the next two years to cover a gap before it receives already-ordered planes in 2017, the company's chief executive said.

  • Savola to pay $0.2 per share dividend for Q3


    Saudi Arabia's Savola Group said it would distribute a third-quarter dividend of SR0.75 ($0.2) per share.

  • Four funds bid for British luxury paintmaker


    American buyout firms Carlyle and Bain Capital are among a group of four private equity funds preparing second-round bids for British luxury paintmaker Farrow & Ball, several sources familiar with the situation said.

  • Ma'aden Q3 net profit falls 66pc, beats forecasts


    Saudi Arabian Mining Company (Ma'aden), the Gulf's largest miner, beat analyst forecasts as it reported a 66 per cent fall in third-quarter net profit after a one-off gain was not repeated.

  • Savola Q3 net profit jumps by 53pc


    Savola Group, Saudi Arabia's largest food products company, reported a 53.3 per cent rise in third quarter net profits on Thursday, beating analyst forecasts.

  • Qafco to seek profit in niche fertiliser products


    Qatar Fertiliser Company (Qafco) plans to launch niche production of environmentally friendly fertilisers to meet rising demand in Western markets, the firm's chief executive said on Thursday.

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United Arab Shipping embarks on $2bn expansion drive

United Arab Shipping Company (UASC) is on a major expansion drive, investing more than $2 billion in bigger ships and forming alliances with peers to boost efficiencies and ride out tough markets....


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