Sunday 23 June 2024

Ritchie Bros. Dubai auction 'a big success'; 1,123 lots sold

  Ritchie Bros., the world's largest heavy equipment auctioneer, has announced the successful conclusion of its unreserved online auction held in Dubai early this month.    The Dubai auction, marking the end of Q2, attracte


Global food import bill in 2024 set to hit over $2 trillion: FAO

Supplies of most of the world’s major food commodities are expected to be adequate in 2024/25, although extreme weather, rising geopolitical tensions, sudden policy changes and other factors could all potentially tip the delicate global demand-supply balances and impact prices and globa


Swiss food group NUOS to set up production plant in Abu Dhabi

Leading Swiss alternative protein innovation specialist NUOS has entered into a deal with Agwa (AgriFood Growth & Water Abundance) for setting up the world's leading alternative production facility in Abu Dhabi with a 1m tonne capacity.   Agwa, Abu Dhabi


GAC to buy Quadrant Pacific’s NZ ship agency business

GAC Group, a leading provider of shipping and marine services in the Asia-Pacific market, has entered into an agreement with a market leading logistics services company Quadrant Pacific to acquire its agency business, formerly its network partner in New Zealand.   


Bahrain EDB wraps up successful visit to the US

Bahrain Economic Development Board (Bahrain EDB), has wrapped up its strategic visit to the US, which kicked off on June 10 and comprised four roundtables sessions as part of ‘The Transformation Agenda’ series.    With the overall aim of promoti


Broaden to set up $270m hydrogen equipment complex in Abu Dhabi

Broaden Energy, a global leader in hydrogen energy solutions, will invest AED1 billion ($270 million) to set up the first hydrogen equipment manufacturing complex in Abu Dhabi.   The Abu Dhabi Department of Economic Development (ADDED) has signed a Memorandum of


Chemicals M&A rebound seen in the next 12 to 18 months

Global management consultancy, Kearney, sees rebound in M&A activity in the Middle East chemicals sector in the next 12 to 18 months.   A new report titled “Chemicals M&A: deal activity remains sluggish but rebound signs are there,” discusses


Tamkeen backs increments for 400 Bahrainis at Lulu

Bahrain’s Labour Fund (Tamkeen) will support salary increments for more than 400 Bahrainis employed at Lulu Hypermarket to support their growth and career development, which is 67% of the total Bahrainis employed at the group. This comes as part of the wage increment programme that supp


Abu Dhabi Chamber in deal to foster trade ties with Angola

The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has signed a cooperation agreement with the Angola-UAE Chamber of Commerce and Industry to foster cooperation, enhance economic relations, and create more investment opportunities for businesspeople, entrepreneurs, and investors in both cou


Air cargo Asia Pacific demand and rates soar: WorldACD

Air cargo demand and rates from Asia Pacific origins continue to soar well above last year’s levels, with spot rates from Vietnam to Europe, in particular, spiking even further in the last two weeks.    According to the latest weekly figures and analy

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