Global mining engineering company Metso Outotec has secured an order from Mauritius group Vulcan for the supply of engineering and key equipment for a major iron ore pellet plant, Jindal Shadeed Iron & Steel, at the industrial port of Sohar in Oman.

The General Authority for Military Industries (GAMI) has announced plans to establish the National Academy of Military Industries in Saudi Arabia to train, rehabilitate and enable national personnel to work in the kingdom's military and defence sectors.

Ideal Standard, a leading provider of innovative bathroom solutions, has launched Singular, a new approach to specification bringing together its deep product knowledge, sector expertise and design services to enable customers to make their pick from thou

Edamah, the real estate arm of Bahrain's sovereign wealth fund, Mumtalakat Holding Company, is set to start work on expansion of the 87,382-sq-m Sitra Industrial Park. Once completed, it will add more than 8,000 sq m of industrial space into the park.

Ericsson has announced the opening of its Global Utilities Innovation Centre in Plano, Texas, a state-of-the art facility which will help deliver 4G and 5G solutions for utilities.

Qurain Petrochemical Industries Company (QPIC), a Kuwait-based firm engaged in investment activities in the petrochemicals sector, has seen its FY net profit jump by 56% to KD22.69 million ($74.11 million).

Dubai’s Roads and Transport Authority (RTA) will expand its Flexible Mobility Project to cover Al Barsha 1 and 2 in the third quarter (Q3) of this year, with the project scheduled for completion by Q3 2023.

STRATEGIC STAKE DEAL
Kingdom Holding Company (KHC), a Saudi conglomerate with interests in key sectors such as hotel management, real estate and equity, has reached an agreement with Saudi wealth fund PIF for the sale of its 16.87% stake for SR5.68 billion ($1.52 billion).

UAE-based Azizi Developments is taking proactive steps to help improve the well-being of residents through its community manager VCM. These include digital screens at buildings for community announcements and atomisers with pleasant scents in lobbies.

Brazil, which saw its 2022 first-quarter agribusiness exports to Arab countries jump 51% YoY to $3.56 billion, intends to further jack up bilateral trade with the 22 members of the Arab League.

This year’s World Economic Forum (WEF) Open Forum Davos will focus mainly on Covid-19 pandemic impact, the Russian invasion of Ukraine and the role of multilateralism for peace in Europe.

The UAE is a global hub in the tea export market, with total exports of about AED1.2 billion ($326 million) in 2020, according to a report by Federal Competitiveness and Statistics Centre (FCSC).