|[Post Date 02/09/2012]Abu Dhabi opens $7.2 billion port|
ABU DHABI: Abu Dhabi began commercial operations yesterday at its new Khalifa Port in a multi-billion-dollar project to transfer its main container terminal from the 40-year-old port of Mina Zayed.
The new facility, on reclaimed land 5km off the coast of the emirate, received its first ship from a commercial customer, the 366-metre MSC Bari.
The first phase of the project, now complete, has cost 26.6 billion dirhams ($7.2bn), the Abu Dhabi Ports Company (ADPC) said.
The Khalifa Port, part of the Kizad industrial zone, has a capacity of 2.5 million Read more...
|[Post Date 18/08/2012]UAE property market begins slow recovery|
|Total value of land transactions in Dubai grew 21 per cent to Dh63 billion in the first half of the year|
By Saifur RahmanBusiness Editor
Published: 13:55 August 16, 2012
Dubai: The UAEâ€™s real estate market is showing signs of recovery â€“ nearly four years after the sector faced the fallout of the worst economic crisis in September 2008 that nearly halted most of the development activities.
Backed by a structured cash injection, careful re-engineering of major development companies and Read more...
|[Post Date 12/06/2010]EDB signs major trade accord with US state|
|MANAMA: The Economic Development Board (EDB) yesterday signed a memorandum of understanding to boost co-operation with the US state of Georgia.|
EDB chief executive officer Shaikh Mohammed bin Isa Al Khalifa sealed the deal with Economic Development Ministry commissioner Ken Stewart. The agreement is part of an EDB roadshow across the US.
The deal aims to maximise the opportunities presented by the Bahrain-US Free Trade Agreement (FTA) and will see co-operation in key sectors.
These include healthcare, education, energy, life sciences, and research and Read more...
|[Post Date 25/07/2009]Savola in $117m deal to buy Geant supermarkets|
|Saudi-based Savola Group has agreed to pay SR440 million ($117.3 million) to buy all Geant supermarkets owned by private Fawaz Alhokair Group.|
Savola has signed an agreement with Alhokair to buy Geant supermarket outlets in the kingdom, it said in a statement posted on the bourse website.
'We are taking all the Geant stores in the kingdom, they are 11,' Savola's Chief Executive Sami Baroum told Reuters.
The deal will enable Savola's retail arm Azizia Panda to raise to 8 from 7 percent its share of the Saudi retail market and would increase its turnover by 13 percent, the Read more...
|[Post Date 02/06/2009]GE Energy to create 100 jobs at new HQ|
|Power giant GE Energy has pledged to create more than 100 jobs at its new Bahrain headquarters, which was opened yesterday in Al Mussalah, near Sehla.|
The facility, including offices and a technology centre, signals the company's intention to expand in Bahrain and across the region, said GE Energy Middle East and Africa chief executive officer Nabil Habayeb.
He said it would serve the company's corporate clients, offering services such as optimisation and control technology, assembly and a testing capability.
"This facility will house more Read more...