Business & Management

Egypt ratings lowered on continuing unrest

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Standard & Poor's Ratings Services lowered its long-term foreign currency sovereign ratings on the Arab Republic of Egypt to 'BB' from 'BB+', and its long- and short-term local currency ratings to 'BB+/B' from 'BBB-/A-3'.

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GCC economy to exceed US$1 trillion

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Higher crude prices and output will likely boost the combined nominal GDP of Gulf oil producers to a record high of more than US$1.1 trillion in 2011 while their economies could fully recover within two years, a semi official study has said.

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Deal signed for Syrian plant

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Cemena Holding Company, a Middle East and North Africa (Mena)-based cement holding company, yesterday said it has signed an agreement with Sinoma CBMI Construction Company Ltd., a subsidiary of Sinoma Group, to commence construction of a cement plant in Syria.

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DSI partners with Zamil

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Drake & Scull International (DSI) has announced its partnership with Zamil Group Holding Company in Saudi Arabia.

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New electricity plant in Qatar by 2016

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Qatar is intending to set up a new electricity plant with a capacity of up to 5,000 megawatts by 2016 in order to meet rising energy demands according to a senior official from Qatar Electricity and Water Company (QEWC).

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