• Sabic 2016 profit down 4.58pc to $4.77bn

    Q4 GAINS JUMP 47.73pc
    Saudi Basic Industries Corp (Sabic), a leading petrochemicals groups, reported a net profit of SR17.91 billion ($4.77 billion) for 2016, compared to SR18.77 billion ($5 billion) for 2015, a decrease of 4.58 percent.

  • Shurooq, Dubai SME sign deal to develop sector


    The Sharjah Investment and Development Authority (Shurooq) has signed a MoU with Dubai SME, the agency of the Department of Economic Development in Dubai mandated to develop the small and medium enterprise (SME) sector.

  • Iran aims to boost shipbuilding capabilities


    Iran plans to further boost its shipbuilding capabilities and compete with leading global firms in the industry, said a senior official from Iran Shipbuilding and Offshore Industries Complex Co (ISOICO).

  • European firms to implement Iran port project


    Nine European companies will implement Iran’s Shahid Rajaei Port development project, said a senior Iranian official.

  • Iran eyes automotive plant in Duqm


    Iran and Oman are continuing their talks to set up an auto manufacturing plant in Oman's Duqm, according to a top official.

  • Iran-Iraq gas pipeline set to begin operation


    Iran will kick off the operation of a pipeline supplying natural gas to Iraq on Tuesday (January 24), said a senior Iranian official.

  • Panasonic to launch GenNext technology at Intersec


    Panasonic, a leading provider of integrated security and video surveillance solutions, is set to showcase its wide range of security products and solutions including its next generation i-Pro Extreme at Intersec 2017 security expo in Dubai, UAE.

  • Qatar's non-oil economy set for solid growth


    Qatar’s efforts to broaden the economic base away from a reliance on hydrocarbons are gaining pace, as indicated by the country’s non-oil growth figures, said a new report.

  • Saudi retail giant Savola swings to Q4 net loss

    RETAIL SEGMENT HIT
    Savola Group, one of Saudi Arabia’s leading retail and food holding companies, made a net loss of SR964 million ($257 million) in the fourth quarter compared to a net income of SR515 million ($137 million) for the same period in 2015.

  • MEA to spearhead $2.2trn packaged food industry growth

    UAE, SAUDI TOP MARKETS
    The global packaged food market is expected to reach $2.2 trillion by 2020 mainly driven by the demand from the Middle East and Africa (MEA) market and Asia-Pacific region, said a report released ahead of a key industry event in Dubai UAE.

  • Abu Dhabi Ports offers IALA training courses


    Abu Dhabi Ports said it has conducted the International Association of Marine Aids to Navigation & Lighthouse Authorities (IALA) level-2 training course for the first group of external trainees from local maritime entities in the UAE.

  • Dana unveils big Automechanika Mideast plans


    US-based Dana, a global leader in highly-engineered driveline, sealing, and thermal-management technologies, is set to introduce its strong lineup of aftermarket products at 2017 Automechanika editions to be held in the Middle East region.

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Industry News

Sabic 2016 profit down 4.58pc to $4.77bn

Saudi Basic Industries Corp (Sabic), a leading petrochemicals groups, reported a net profit of SR17.91 billion ($4.77 billion) for 2016, compared to SR18.77 billion ($5 billion) for 2015, a decrease of 4.58 percent....


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