Zain Group, the leading telecommunications provider in the Middle East and North Africa, announced the signing of a strategic partnership with PCCW Global, the Hong Kong-based provider of voice and data solutions, in order to co-operate in the development and offer of international telecommunications services.
Kuwait’Sabiya Power Plant at Full Power to Meet Country’s Summer Peak Electricity Demands
November 2012 in News, Worldwide News by PublisherPhase two of the Sabiya combined cycle power plant project in Kuwait began commercial operation in time to meet the country’s peak electricity demands during the hot summer months. The government-owned Sabiya station is Kuwait’s largest power plant, which is using GE’s advanced gas turbine-generator technology, in combined cycle operations, to produce more than 2,000-megawatts (MW) of additional electricity for the grid.
Why is Accessing Finance Such a Challenge for Most South African Businesses?
October 2012 in Worldwide News by PublisherA recent snap survey by enterprise development specialists Fetola, showed that 93% of small businesses are uncertain about where and how to access finance. “It seems that in South Africa a primary challenge is the difficulty associated with accessing funds, as opposed to the actual availability of funds for businesses,” says Catherine Wijnberg, Fetola CEO.
Dubai Chamber Study Shows Growth in Competitiveness
October 2012 in Worldwide News by PublisherThe UAE ranks as the third-most competitive economy in the region after Qatar and Saudi Arabia, the latest study by Dubai Chamber of Commerce and Industry finds.
According to the World Economic Forum’s Global Competitiveness Report 2011/12, the UAE ranks 27th out of 142 countries, below Switzerland (in 1st place), United States (5th), Qatar (14th) and Saudi Arabia (17th), but higher than other regional peers, such as Oman (32nd), Kuwait (34th), Bahrain (37th) and Egypt (94th).
Kuwait International Bank Signs Agreement with KIA Motors
September 2012 in News, Worldwide News by PublisherKuwait International Bank (KIB) and KIA Motors recently signed an agreement, marking the launch of the KIB – KIA campaign, which offers exclusive discounts and privileges to those who purchase a KIA through the KIB Murabaha. The signing ceremony, which took place at the KIB head offices in the presence of Acting CEO at KIB, Mr. Loay Maqamis, and Assistant General Manager at Abdulaziz Al Ali Al Mutawa Group Co., KIA Motor agent in Kuwait Mr. Salem Al Mutawa, Brand Manager Mr. Medhat Khalil, and Assistant General Manager of Ritaj Insurance Co. Mr. Khaled Al Mutawa, reflects KIB’s ongoing efforts in offering Sharia compliant quality financial facilities, catering to customers’ expectations with high quality services and products.
ASEC Cement Completes Zahana Overhaul in Algeria
September 2012 in News, Worldwide News by PublisherA leading regional cement company has begun work on a new raw mill that will expand capacity at the recently overhauled Zahana plant in Algeria and expects full production from the Arab National Cement Company in Minya to begin by the first quarter of 2013, creating 400 direct jobs
IFC Renews Investment in Zambeef
September 2012 in News, Worldwide News by PublisherIFC, a member of the World Bank Group, has announced an investment of $30 million, partially denominated in Zambian Kwacha, to support the expansion of Zambeef Products Plc in Africa. Following an investment of $10 million in 2010, this is IFC’s second loan to Zambeef, which is emerging as one of the leading agribusinesses in the region.
No Plan to Deal with Fukushima Collapse
September 2012 in News, Worldwide News by PublisherTokyo Electric Power Company (TEPCO) say they don’t know what to do if Reactor 4 collapses, instead declaring it safe from earthquakes after finding it leaning and with a bulged exterior wall.
The Wall Street Journal reported that TEPCO doesn’t have a plan to deal with the collapse of Spent Fuel Pool 4 at the Fukushima nuclear reactor in Japan. The revelation comes as a US army general warns the entire Northern Hemisphere is at risk of becoming largely uninhabitable if the building collapses, which is a sentiment being echoed by a host of scientists, nuclear experts and researchers.
Strategy to Reduce Emirate’s Greenhouse Gas Emissions
August 2012 in Worldwide News by PublisherDubai will develop a strategy to reduce carbon dioxide and greenhouse gas emissions, as well as recommendations for ultimately monetising them through a groundbreaking carbon trading scheme, it has been announced.The initiative is an integral part of the Dubai Integrated Energy Strategy 2030, including the plans to build a 1000-megawatt solar power park in the Emirate.Dubai Supreme Council of Energy (DSCE) has partnered with Dubai Carbon Centre of Excellence (DCCE) to verify preliminary studies on carbon dioxide emissions. Emirate-wide research on greenhouse gas emissions will be carried out and frameworks developed with relevant industries aimed at introducing a comprehensive carbon dioxide abatement programme. At the signing of an MoU between the two entities, His Excellency Saeed Al Tayer, Vice Chairman of DSCE, said the partnership was a further stage in the successful deployment of the Dubai Integrated Energy Strategy 2030 and an opportunity to encourage low-carbon industries and attract foreign investment.
IEA Commends New Danish Energy Strategy
August 2012 in Worldwide News by PublisherDenmark is a leader in implementing well-designed policies for renewable energy, energy efficiency and climate change, according to a review of Danish energy policies published by the International Energy Agency (IEA). The review applauded Denmark’s long-term vision for a low-carbon future – all Danish energy supply is to come from renewable sources by 2050 – and its achievements to date, but also sounded some notes of caution regarding the implementation of such an ambitious strategy.
