Bathgate, West Lothian-based mobile phone recycling company Redeem Holdings acquired Macclesfield, Chesire-based rival Eazyfone for an undisclosed amount to enhance its processing capability and increase its annual takeover.
Tags: United Arab Emirates
Egypt signs with six international firms to dredge new Suez Canal
Egypt signed contracts with six international firms on Saturday to carry out dredging of the new Suez Canal, the flagship project in President Abdel Fattah al-Sisi's program to revive an economy battered by years of political turmoil.
Egypt has paid back $500 million to Qatar: central bank governor
Egypt has paid back $500 million to Qatar and will soon return the remainder of the money the Gulf state deposited into the Egyptian central bank after the 2011 revolution, the bank's governor said on Saturday.
Goldman Sachs plans sukuk issue as Islamic finance goes mainstream
Goldman Sachs (GS.N) is reviving plans to issue at least $500 million worth of Islamic bonds, a sign that Islamic finance is going mainstream as big conventional banks seek to tap Middle Eastern money.
LinkedIn reaches 300-million mark in registered users
Mountain View, US-based business-oriented social networking service LinkedIn already reached the 300-million mark in registered users worldwide, with half of that number coming from countries outside of its home country.
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Ireland's Ryanair on Tuesday announced that it won't participate in Italian airline Alitalia's EUR300 million emergency cash call. Other carriers including Lufthansa, Etihad Airways, Aeroflot and Alitalia shareholder Air France-KLM have also turned down the deal.
Dubai property firm DAMAC raised USD348 million in its first trading day in the London Stock Exchange. A week ago, DAMAC reduced the deal size to USD400 million and fixed the final price at USD12.25 per global depositary receipt (GDR).
Masdar Clean Energy announced its participation in the USD290-million Jordan Wind Project Company (JWPC), the company's first renewable energy investment outside the United Arab Emirates.
Moody's Investor Service had upgraded the ratings for the United Arab Emirates from negative to stable due to recent real estate recoveries and the decline of problematic loans in the market.
With vigorous criticism of the rules on banking exposure related to government related debt, the UAE central bank was forced to review the rules and study on how to lessen its harsh effects.
GS Engineering and Construction and Samsung Engineering form joint ventures with Arabtec separately.
Hoteliers in UAE are in conflict as to the recommendation to impose a price ceiling on hotel rates. A hotelier in Dubai had called for the UAE tourism authority to introduce a ceiling on hotel rates to control the market.
Qatar and UAE granted emerging market status while Bahrain, Kuwait and Oman retain frontier markets.
Al Nabooda Automobiles had set plans to expand its German car imports operations in Dubai and Sharjah.
