Business & Management

Arabtec's 1Q profits slide

Arabtec Holding, Q1 net profits, slump,property downturn, Dubai, property market, revenues,cancelled contract, Meydan racecourse, joint venture partner, WCT  arbitration, JV,compensation.

Arabtec Holding saw Q1 net profits slump 80 per cent after releasing figures for the first three month of the year as the property downturn in the Dubai had a knock on effect on the firm's earnings.

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Qatar cancels plans for power plants in Syria


Qatar Electricity & Water Co (QEWC) announced that it has cancelled plans to build two power plants in Syria.

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Roots Steel acquires Ginco Steel LLC and Polyco Co. Ltd


Roots Steel International Co. Ltd (Roots Steel Group), a leading Saudi Arabia-based manufacturer of pre-engineered metal building systems, announced the acquisition of two Sharjah-based companies - Ginco Steel LLC and Polyco Co. Ltd, both wholly owned subsidiaries of Bank of Sharjah.

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Abu Dhabi to impose waste disposal tax


Abu Dhabi has told local companies they would have to pay tax for waste disposal services within a plan to be enforced very soon with the aim of easing the financial burden on the government and cutting waste dumping.

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Tripp Lite eyes more partnerships in Dubai


Power protection, cooling and connectivity solutions provider Tripp Lite believes that Dubai remains a top choice in the region for companies to establish themselves in, a top official said.

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