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Corporate

dmg :: events named Employer of the Year at Middle East Event Awards 2012
 The Middle East Events Awards 2012 is the annual showpiece event of the Middle East events industry, and on the night of May 2, the best in the industry gathered to celebrate excellence. dmg :: events Middle East was named winner of Employer of the Year, beating Action Impact, Harlequin Event Services and IIR Middle East to this prestigious new award...Read More

Construction

SAEI selects HLG for MRO facility
 Saudi Aerospace and Engineering Industries (SAEI) has selected a joint venture of the UAE-based Habtoor Leighton Group (HLG), Turkey's TAV and Al Rajhi, for a SR2.87 billion contract to design and build a new maintenance, repair and overhaul facility (MRO) in Saudi Arabia. Located in the King Abdul Aziz International Airport in Jeddah, the project is part of an overall SR27-billion expansion plan to raise the airport's capacity from 13 million to 80 million passengers per year by 2035. The JV's scope of works includes the design and construction of 11 aircraft maintenance hangars with clear spans up to 160 metres; maintenance....Read More
OCC net income jumps 24pct
Oman Cement Company (OCC) has announced plans to raise its cement grinding capacity, and said a consultancy agency has been appointed to study the feasibility of further expansion. The Sultanate's second-largest cement producer has posted a 24 per cent rise in net profit for the first quarter of this year, despite "dumping by neighbouring countries" which continued to exert pressure on both volumes and price. Oman Cement produced 543,544 MT of cement during the first quarter of 2012, 10.7 per cent higher over the same quarter a year ago. The positive quarterly numbers follow the modest full-year 2011 performance...Read More
KSA has $750bn construction projects in pipeline: report
A report by Citigroup has said Saudi Arabia tops the Middle East and North Africa (MENA) region's construction industry with $750 billion of new projects in the pipeline, or 31 per cent of the entire regional market. Iraq, which remains the third largest market in the region with just under $315 billion of new projects, is showing signs of spending across segments, promising more opportunities for contractors. Although the value of projects in Kuwait has grown 10 per cent to some $200 billion since the beginning of the year, the Gulf country's market generally is expected to be hampered in the coming months by domestic political...Read More
 

Energy

Iran finds 'South Pars-sized gas field'
Iran has discovered a new gas field with estimated reserves comparable to those of the giant South Pars field, Mehr reported on Sunday, citing an industry official. The reserves were discovered in Khuzestan province at a field already known to contain crude oil, the state-run news agency quoted National Iranian Oil Co's director for exploration, Seyyed Mahmoud Mohaddes, as saying. Initial studies by NIOC show the discovery could represent one of the biggest natural gas fields in the Middle East, Mohaddes said. NIOC plans to drill a 5,000m well in the field to collect more information and to determine...Read More
Bahrain signs Oxy deal
Bahrain has signed a major agreement with US Occidental Petroleum for deep gas exploration in the onshore Bahrain Field, according to Oil and Gas Affairs Minister and National Oil and Gas Authority (NOGA) chairman Dr Abdulhussain Mirza. Occidental will carry out drilling for gas and Bahrain would not be charged for the operations since all drilling costs would be borne by the company for the first seven years. By then it would be known whether they have found results, he said. Mirza said earlier that the deal may cost Oxy between US$100 million and US$200 million over the period of seven years...Read More
ADNOC to shortlist bidders for onshore rights
The Abu Dhabi National Oil Company (ADNOC) is preparing a shortlist of companies to be invited to bid for its onshore oil concessions, Dow Jones Newswires reported. The concession for Abu Dhabi Company for Onshore Oil Operations (ADCO) which produces 1.4 million bpd, or half of Abu Dhabi's pumping capacity, is due to expire in two years. State-firm ADNOC owns 60 per cent of ADCO, with ExxonMobil, Royal Dutch Shell, BP, Total and Partex Oil & Gas holding the rest under a concession agreement that dates back to 1939...Read More
 

Design

Kohler introduces SteroStik in ME
Global kitchen and bathroom manufacturer, Kohler Company has launched a new audio product in the Middle East for customers who enjoy 'singing in the rain.' The StereoStik is an audio add-on system that is easily installed to existing mirrored cabinets. It was designed meet the growing trend of regional renters and home owners to personalise bathrooms, said Kohler. Designed to work with Kohler's 26" tall, surface-mounted mirrored cabinets, the panel module mounts on either side of the mirrored cabinet, allowing for flexibility in installation and easy access for users...Read More
Henker launches handmade tables
German design firm Sebastian Herkner has come up with a new line of tables using the lightweight, fragile material. The new Bell tables is made of glass as the base for a metal top that seems to float above it. Hand-blown in the traditional manner using a wooden mould, the transparent tinted glass base asserts a sculptural presence in space, contrasting with the solid brass frame on top while also forming with it a unit reminiscent of the elegant curving silhouette of a bell. As each of the Bell tables is handmade, small imperfections in the glass form desirable characteristics...Read More
New sustainable MDF coating from Jotun
Jotun Powder Coatings has announced the global launch of a new eco-friendly premium medium density fibreboard (MDF) powder coating solution. The new Reveal Smooth product is the smoothest solution in the powder coatings industry to be offered for the MDF segment, guaranteeing consistency in appearance, and strong scratch resistance, said Jotun. The new product has been developed to deliver a high-end semi-matte finish to protect furniture from scratches and unwanted marks left by warm objects like coffee cups...Read More
 

Hospitality

Global Hotel Industry to reach $847.8 billion by 2015
 Property renovation and luxury repositioning increasing as global economy improvesWith the industry forecasted to have a value of $847.8 billion by 2015 according to recent industry reports by Hotels & Motels: Global Industry Almanac, emerging markets such as the Middle East are being highlighted as significant regions driving growth. In addition to new properties currently under construction, increased focus in the region is on renovation of existing hotels to deliver enhanced luxury and eco-luxury hospitality offerings, a trend being witnessed by The Hotel Show...Read More
GCC hospitality sector booms
 According to Ventures Middle East, the GCC hospitality industry is expected to enjoy high growth in 2012 as international hotel chains establish new properties in the region to support anticipated increases in inbound tourism. Combined with increased spend on restoration and refurbishment works, the outlook for suppliers to the hospitality sector looks particularly buoyant...Read More
A diversified range of quality At Hotel Show 2012
Ubifrance, the French agency for international business development, will be present at Hotel Show Dubai 2012 with the French Pavilion featuring around 30 companies. Ubifrance comes under the aegis of France's Ministry for the Economy and Industry. The agency lies at the heart of France's public-sector export-support framework. With 66 Trade Commissions in 46 countries, Ubifrance offers a comprehensive range of services aimed at accompanying French-based companies...Read More