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Oman’s Raysut Cement Co-eyes takeover of Kenyan ARM Cement

Raysut Cement Company has come forward to acquire struggling ARM Cement Ltd of Kenya as the Omani clinker company embarks on its expansion strategy in eastern part and in the horn of Africa. Raysut is in competition with Dangote Cement Plc, Africa’s biggest producer, to acquire ARM, which is looking for $140 million to pay […]

December 5th, 2018 | Posted in Finance,Headlines | Read More »

Oman: four French groups eye investment in Duqm Special Economic Zone

France’s leading groups, CMA CGM, EDF Renewables, FIVES and SUEZ have announced plans to pump investment in the Oman’s Duqm Special Economic Zone, in many sectors including cement, renewable energy and alternative fuel.  The four groups will form a French Business syndicate with the aim of assessing various investment possibilities, Arabia Business reports. The likely […]

December 3rd, 2018 | Posted in Finance,Headlines | Read More »

KSA: State-owned electricity SEC signs $2.15bn revolving credit facility with 8 international banks

Saudi Electricity Company (SEC), the largest electricity company in the Arab world, inked Thursday a deal for a $2.15-billion revolving credit facility with eight international financial institutions that have agreed to support the utility company expand its public work. The credit will be granted by Abu Dhabi First Bank, Mizuho Bank, MUFG Bank, Standard Chartered […]

November 30th, 2018 | Posted in Finance,Headlines | Read More »

Russia’s leasing company GTLK opens Middle East, Africa office in Dubai

Russia’s largest leasing company GTLK has recently opened its third overseas office in Dubai to serve the Middle East and Africa. Controlled by the Russian government represented by the ministry of transport, GTLK leases air, water and rail transport, automotive and special equipment for domestic enterprises of the transport industry, as well as invests in […]

November 29th, 2018 | Posted in Finance,Headlines | Read More »

Morocco’s King Leading Rail Transport to Higher Levels

Morocco is moving on a fast track development after joining the high-speed rail club. This achievement gives the country more confidence and all the motivations to look with pride and upbeat to the future. On Saturday, King Mohammed VI launched major railway projects, two days after the inauguration of the high-speed rail line connecting the […]

November 18th, 2018 | Posted in Finance,Headlines,World News | Read More »

UAE: Dubai Holding set to acquire minority stake in Beirut-based Azadea

Dubai Holding is on the verge of acquiring minority equities in Azadea Group based in Beirut, Lebanon and which operates Zara clothing and Virgin Megastore chains in the Middle East, Bloomberg reports citing sources who were not allowed to speak on the matter. According to the sources, the initial transaction took place last week and […]

November 6th, 2018 | Posted in Finance,Gulf News,Headlines,World News | Read More »

Bahrain: Investcorp deepens foothold in Europe

Manama-based alternative investment products firm, Investcrop, has said it acquired five industrial units in Scotland for a $14.6 million investment as part of its expansion strategy across Europe. The entity said it bought 200,000-sq-ft industrial units comprising several sectors including sciences, logistics, telecoms and packaging. The new acquisition attracted the Bahraini firm for its geographical […]

November 2nd, 2018 | Posted in Finance,Headlines | Read More »

Egypt expects $200 mln US investment this year

The United States will invest about $200 million in Egypt by the end of 2018, according to the Chief of the US Mission in Egypt. Thomas Goldberger made the statement at the US Chamber of Commerce conference in Cairo on the sidelines of a visit by a delegation of 44 US companies to the country. […]

October 25th, 2018 | Posted in Finance,Headlines | Read More »

Dramatic funding shortages a ‘severe catastrophe’ for people of Gaza: UN Coordinator

The UN Humanitarian Coordinator for the occupied Palestinian territory, Jamie McGoldrick, has been describing how ordinary Gazans are scraping by on just four hours of electricity per day due to fuel shortages, putting many in “a terrible situation” as the winter months approach. In an interview with UN News, he recounted that on a visit […]

October 24th, 2018 | Posted in Finance,Headlines,World News | Read More »

KSA: Davos in the desert to go ahead despite large pullout by western top officials, CEOs

“Davos in the desert” investment summit is expected to go ahead in capital Riyadh Tuesday as planned despite the boycott of the event by world leading entities and western government officials over call for transparency in investigations into the death of Saudi journalist Jamal Khashoggi, confirmed dead by the kingdom following days of denial. Officially […]

October 23rd, 2018 | Posted in Finance,Gulf News,Headlines | Read More »