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Red Sea Housing reveals 30 per cent growth in profits for H1 2014

August 2014 in News by edster

Company’s latest financial report shows Net Income of SAR 84.3 million

Red Sea Housing Services Co. (RSH) has posted outstanding performance for the first half of 2014, revealing Operating Income of SAR 41.59 million, a growth of 17.69 per cent compared to the same period of 2013. Read the rest of this entry »

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Flexible Relay Solution From Rockwell Automation Simplifies Safety Implementation

August 2014 in News by edster

Machine builders can now easily implement required safety functions while improving productivity with the Allen-Bradley Guardmaster 440C CR30 safety relay from Rockwell Automation.

Users can program the safety relay through the free Connected Components Workbench software from Rockwell Automation. Connected Components Workbench software reduces programming time and helps increase productivity by allowing users to create, control and monitor a safety system in the same software environment as their standard control. Read the rest of this entry »

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BRIC (Brazil, Russia, India and China) markets bring bigger capital inflow into UAE than MENA markets, with India topping the list: Fortress Investments

August 2014 in News by edster

MSCI upgrade of the UAE to emerging market status places it within the BRIC grouping

Fortress Investments, a leading investment firm operating in the Middle East, says that there is a significant increase in capital inflows into UAE from emerging markets, particularly the BRIC countries (Brazil, China, India and Russia), surpassing inflows from MENA (Middle East & North Africa) region.

Hamed Mokhtar, Managing Director at Fortress Investments said: “The UAE is becoming more important on a global scale, in addition to emerging as an unparalleled investment hotspot. The capital invested in the UAE from MENA region is more in the form of individual property assets, whereas UAE’s role in attracting capital flow from BRIC countries is the result of progressive government measures and global partnerships.”

He added: “India commands the lion’s share of BRIC capital coming into the UAE. The UAE is a net importer of capital mainly from emerging markets and regional markets, where capital inflow from developed markets is low.”
This significant revelation comes on the heels of index provider MSCI’s upgrading the United Arab Emirates (UAE) to ‘emerging market’ status, thus putting the UAE in the ambit of the BRIC grouping.

He added: “Financial robustness of the UAE financial markets, specifically Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM), not only spells financial gains but also stronger economic sentiment that boosts the image of the UAE as a global powerhouse that is much valued by groups like BRIC.” Read the rest of this entry »

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Schneider Electric Appoints Ziad Mortaja as Country President for its Operations in the Saudi Arabia

August 2014 in News by edster

Schneider Electric, a leading global specialist in energy management, today announced the appointment of Ziad Mortaja as Country President for its operations in Saudi Arabia and Yemen.

Schneider Electric enjoys a strong presence with three manufacturing plants employing over 1,200 staff in the Kingdom, and a robust network of marketing partners. As part of his role, Mortaja is tasked to plan and implement strategies that further drive Schneider Electric’s growth, profitable revenue streams and market expansion. Read the rest of this entry »

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Higher Interest Rates Sooner for the United States?

August 2014 in News by edster

United States

A Volatile US data Give the Fed an Opportunity to Buy Some Time
As the holidays come to an end, we come to a very busy data week in the US in conjunction with the FOMC meeting. All these events have given the market some hope from the emergence of volatility, as signs of wage inflation emerge and GDP rebounds, which has the USD bulls excited. Read the rest of this entry »

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Lufthansa Group raises operating profit for first half-year

August 2014 in News by edster

Improved cost structures and lower depreciation help increase operating profit by EUR 41 million to EUR 114 million / competitive pressures on fares, devaluation of the Venezuelan bolivar and pilots’ strike depress second-quarter results / Lufthansa Group to slow capacity growth for the winter period and go on the offensive with new innovation and quality drives / profit outlook for 2014 and 2015 confirmed Read the rest of this entry »

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Saudi Arabia equities market opening a major boost for gcc in 2015

August 2014 in News by edster

• The Saudi equity market will be opened to foreign institutional investors only

• Rotate into high-yield bonds which offer better value

• Large IPOs could drain money out of stock markets and raise volatility ahead Read the rest of this entry »

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Quest Interiors awarded triple certification in OHSAS 18001, ISO 9001 and ISO 14001

August 2014 in News by edster

Specialist Interior Refurbishment Contractors, Quest Interiors has been awarded triple certification in OHSAS 18001, ISO 9001 and ISO 14001, validating their commitment to health and safety, quality and the environment. Read the rest of this entry »

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LG unveils newest addition to industry-leading OLED TV Series

August 2014 in News by edster

LG Continues to Redefine the Viewing Experience with Superior Technology and Premium Design Feel the Difference with LG’s Picture Perfect OLED TV

LG Electronics (LG) today announced the launch of a new 55-inch CURVED OLED TV (Model EC9300), further expanding its industry-leading lineup of TVs with OLED technology. Since introducing the world’s first 55-inch OLED TV last year, LG has continued to drive the OLED TV market forward by investing heavily in R&D and marketing to build a significant lead over other TV manufacturers. LG’s commitment to OLED TV is already benefiting consumers with lower prices, better technology and the best viewing experience possible. Read the rest of this entry »

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Eltherington ‘lives’ up to the job on viacom building

August 2014 in News by edster

Eltherington, one of the UK’s leading suppliers of architectural aluminium, stainless steel, Reynobond, Reynolux, Copper, Zinc and Brass solutions, has helped create a living wall on the new headquarters of media company Viacom, in London. Read the rest of this entry »