Saudi Electric Company completes air ambulance landing strip at power station

Saudi Electric Company (SEC) recently completed building the first airstrip for air ambulances at power plants in accordance with the joint cooperation agreement signed with the Saudi Red Crescent Authority.  The SEC and Saudi Red Crescent Authority have successfully conducted the first air ambulance landing test at the 12th power station in Dhurma governorate. Read More »

Emirates National Oil Company secures $230 million loan from Chinese bank

The Emirates National Oil Company (ENOC) has secured a $230 million unsecured loan from the Industrial and Commercial Bank of China Ltd. (ICBC), one of China's "Big Four" state-owned commercial banks and the largest bank in the world in terms of total assets. The loan was secured at the bank’s branch at the Dubai International Financial Center (DIFC) in the UAE. Read More »

Petroleum Institute signs research agreement with Solvay Group for lab in Abu Dhabi

The Petroleum Institute University and Research Center (PI) said it signed a technical research services agreement with Solvay Group that will allow it to establish an automated chemical enhanced oil recovery (EOR) formation laboratory in Abu Dhabi. The laboratory will replicate robotic technologies that Solvay developed in many of the world’s most challenging oilfields. Read More »

Copart assures customers that ESMA regulations will not ban all used vehicle imports

Copart, a leading online re-marketer of vehicles, announced that, while the Emirates Standardization and Metrology Authority (ESMA) will begin to implement new regulations for auto imports, Copart has received assurances that ESMA does not plan to ban the import of all used or damaged vehicles. Copart plans to work with ESMA to clarify whether new regulations would improve safety and quality while limiting the economic impact on traders. Read More »

QFB, Novus Aviation Capital partner in aircraft lease deal

Qatar First Bank LLC (QFB), in partnership with another organization, has invested in the international aircraft leasing industry. QFB, a top performing Shari’ah-compliant bank, has teamed up with Novus Aviation Capital, an internationally recognized and quickly growing aircraft leasing platform, to obtain and lease two 2011 vintage Boeing 737-900ER single-aisle aircraft. The planes will be leased to Indonesia’s Lion Air. Read More »

SEC, Microsoft use summer program to teach youth computer programming

A summer training program for young adults, sponsored by Saudi Electricity Company (SEC) and Microsoft, is teaching youth participants how to build websites and utilize the tools of cloud computing. There are 150 students in the program, which was organized by the employees of the sponsor companies. Employees were allowed to enroll their children and their children’s friends. Read More »

Qatar Chamber announces that 80 percent of business space for Made in Qatar has been booked

The Qatar Chamber announced that 80 percent of the business space for the 5th edition of the “Made in Qatar” exhibition has already been booked. The exhibition is set to take place on November 6 to 9 in the Saudi Arabian capital Riyadh, the first time it will ever be held outside Qatar. Along with major Qatari companies, small and medium-sized enterprises and household producers will attend the event so as to make an introduction to the Saudi business community. Read More »

Baker & McKenzie Habib Al Mulla bolsters UAE arbitration resources

UAE law firm Baker & McKenzie Habib Al Mulla recently augmented its professional scope by appointing two attorneys to shore up its presence and expertise in legal, regulatory and commercial practices at its Dubai office. Dispute resolution lawyer Charlotte Bijlani was named a partner in the firm’s arbitration practice, while Joanna Matthews-Taylor was tapped as a senior associate for its employment practice. Read More »

IIFM conducted workshop on Islamic Finance in Kuala Lumpur

The International Islamic Financial Market (IIFM) recently held a workshop in Kuala Lumpur, Malaysia, detailing Islamic Finance, focusing on "IIFM Standard Documents and Product Templates." Labuan FSA hosted the event in conjunction with the Global Islamic Finance Forum 5.0, which was organized by the Association of Islamic Banking Institutions Malaysia (AIBIM) from May 10 to 12 at Sasana Kijang, Bank Negara Malaysia. Read More »

Qatar and Algeria work together to grow joint business council

During a recent meeting held at the Qatar Chamber headquarters, Algeria’s Minister of Industry and Mines Abdeslam Bouchouareb urged Qatari businessmen to make investments in his country in sectors that include industry, mining, medicines, tourism and services.The meeting was attended by Qatar Chamber Vice Chairman Mohammed bin Ahmed bin Tawar and HE Ambassador of Algeria to Qatar Abdulaziz Saba. Read More »