Drake & Scull International PJSC (DSI) reported higher profits and revenues for the second quarter 2011. Net income increased by 22 per cent to hit US$14.9mn compaired with US$12.25mn last year.
Ducab, manufacturer of power cables in the Middle East, saw sales of US$660mn for the first 6 months of 2011 ? a 50 per cent increase on last year and jump in volume growth by 13.5 per cent.
Foreign direct investment (FDI) into the Middle East is expected to drop by at least 10 per cent to between US$50 billion and US$55 billion in 2011 according to a new report.
OCME, a supplier of end of line equipment for the beverage market, will open a new branch in Jeddah in the first quarter of 2012, which will be dedicated to serving the Middle East region.
Standard Chartered Private Equity (SCPE) has acquired a minority stake in Construction Products Holding Company (CPC) through an equity investment of US$75mn.
Alain Charles Middle East FZ-LLC
Office 112, Loft No 2B,
Dubai Media City,
T: +971 (0) 4 448 9260